In the future when I move on from Ufilms and go to University I intend to set up my own branch of Ufilms in Manchester. In this business I would take on the role of director for any jobs that we may acquire and also take on a managerial role in the overall business.
As my skills are mostly in the directing and management department I would mainly work with business ideas that involve a strong leader to manage the project successfully and keep things on track and to schedule.
The idea for my business would consist of me teaming up with Matty, Jess and Matthew who are also going to Salford University. We would start our business by creating a Facebook page that was specific to our location instead of using our current page that is more specific to the Teesside area. We would initially start off with just the 4 of us to set up a basic structure of how things could work and eventually we would draft in others, perhaps from our university courses that could help us on projects with the more practical side of work after we have been on the course for a while and have established who is the best in each area such as editing, filming and preproduction paperwork.
In the first few weeks we would make a huge push to advertise and get our names out there to the local community. We could perhaps provide our services at a reduced rate at the start of our business venture to establish ourselves and hopefully word would get around if we work in a professional manner and create videos of a high standard. This will of course add to our portfolio of work to show other potential clients as well. This would hopefully create contacts so that if those companies need any work doing in the future they would contact us and provide us with fully paid work.
My aim would be to mainly create promotional videos for small businesses who are looking to promote themselves but we would also look into creating educational videos for schools if that would make us any profit.
Eventually we would have a solid team that worked in a very efficient way to create quality content.
I think that our main source of work would be from small companies that are currently setting up there own businesses and trying to make a name for themselves. These are the companies that will be most in need of our services and as students we will be able to provide our services on a cheaper rate. Any businesses that want to promote themselves but don't have the budget to pay an actual production company would find our rates very attractive as this business would be providing us with invaluable experience as well as a bit of extra cash.
When starting up initially I would of course have to think about the hiring of equipment and so I would have to include this in the cost of productions. My aim for my first year of the business would be to break even whilst I was establishing myself and creating a company that has the potential to make money. This would also mean that I would not be required to pay any taxes on the company as we would not have made any profit.
In the second and third years I would like to start making a marginal profit that could be reinvested into the company in order to make our productions to make the process easier. We could use any profits that we make to purchase our own equipment such as cameras and tripods. This would reduce our overhead hugely and mean that in the long run we would increase our profits hugely as it means that the money we were charging just to break even for hiring would turn into profit with no pricing changes.
The main way that we would reach our customers would be through social media and contacts that would hopefully be made at our time in university. Doing work for free or at a reduced rate means that when the businesses are promoting themselves using our content we would also get our own name recognised by whoever views it. When they see the work that we have done they may think to them selves that they could also use a promotional video of there own and contact us to create one. But this time we would charge them and make some money in the process.
At the very beginning of the business we would recruit no staff as with 4 people all in agreement about not earning much money whilst we set things up there would be no issues and I believe that we would be able to manage any work that we would be able to gather between the four of us without needing the assistance of anything else.
In the long term we would recruit other members of our university course who we believed were particularly skilled in certain areas as employees. Myself, Jess, Matty and Matthew would then take on a more managerial role in taking bookings, forming teams and directing operations to make sure that everything runs as smooth as possible and to time.
Business plan:
My business offers services in media production, producing media at a professional standard for companies and individuals. I have previous experience in producing adverts and filming events and so this is what the main focus of my business would be. As I have been involved in numerous paid projects in this category I have the experience required to create content that all of my customers will be pleased with and will be willing to pay for.
My customers would be able to obtain my services in one of two ways. Either online via Facebook or email or by telephone. This way it is much easier to communicate with each other and figure out exactly what the customer wants and whether it is possible.
We will charge by an hourly rate of £10 an hour per camera during filming and a further £10 an hour for every hour spent editing. We will agree on a price before production begins but if the product is not able to be completed in the agreed amount of working time through no fault of our own we will have to renegotiate and include extra fees.
My short term objective is to break even after the first year whilst establishing our company and making a name for ourselves as well as expanding the company to hire more employees.
My long term objectives are to start making a profit in the second year and began to reinvest these profits into the business to make productions easier and simpler.
Business Proposal link:
https://drive.google.com/open?id=1s6SZLZECV5uiuc86iX6qJ5ns80V-cYHuT7OaoMxJnxk
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