Business name
Studio Bind
Business Activity (What do you do?)
We are a small studio focussing on branding, identity, editorial and publications. We also wish to run a pop up event that would create a networking opportunity for graphic designers, whilst selling publications that we and others have created.
Mission Statement
We are a small and friendly studio working with small to medium sized businesses, with a particular focus on designing for female driven and start up businesses, as we feel we have are able to relate to and understand these businesses and what is necessary to help them grow through a use of strong design.
Business Objectives
What are your plans to achieve your sales target in the first 12 months?
We will be marketing ourselves to all potential clients to ensure that we have enough work to allow us to reach our sales targets.
What new products or services will you introduce in the following two years to grow your business?
We would like to introduce a screen printing service in the following two years as we as a studio are passionate about print, and we feel there is a market for a screen printing service.
What is your long term / 5 year goal?
We would like to be an established design studio in Leeds, possibly with the potential for growth into a larger studio space. We would like to have a number of loyal clients using our services several times a year, as well as still targeting other small to medium sized businesses for new work. We would like to be running a smaller screen printing business as well as still hosting our Bump and Bind events.
The People in the Business
How many people are employed?
4 People are employed in the business.
What are their roles?
Emma Johnson - Print Management
Suzanne Moore - Web Management
Hannah Watt - Accounts
Elizabeth Tyrer - Client Communications
What is the legal status of your business?
We are a cooperative business.
Why have you chosen this status - what are the advantages?
It means that we have equal titles, and a sense of shared responsibility, so we all contribute equally to the studio's success.
RESOURCES
Products or services
Describe the range of goods/services you are selling?
Branding and Identity service
Editorial and Publication service.
Say what percent of turnover each will provide?
The branding and identity side of the business will bring us the most turn over: 70%
Editorial and publication design will be a smaller side to our business : 30%
What resources do you require & what equipment do you need?
4 x Imac
1 x Ipad
1 x Macbook Pro
1 x Lightbox
1 x A3 Printer
Adobe Suite
Range of stock
Pens, pencils, other stationery
Internet
Studio Space
(as our business grows we would like to have screen printing facilities available to us also)
How much will these cost?
Estimated cost of £12,000
YOUR CUSTOMERS
What evidence do you have that anyone will buy your product / service?
There is evidence of our niche market in every city centre, and this information can be found both online and by looking around the city centre at the new shops opening up.
Who are these people?
Female businesswomen, owners of start up businesses
Where are they?
City centres/outskirts, where small to medium businesses are present.
Why would they buy from you rather than anyone else?
Because of our personable and relatable team, competitive pricing, our approach to design.
Provide a SWOT analysis to show that you have analysed your strengths and weaknesses in comparison to your potential competitors.
S: Niche market being targeted in start ups and female driven businesses
W: Having a niche market is great, but what if there are no clients that meet this description?
O: Opportunities in Leeds and other cities to seek clients out and network
T: Other small studios
How much will the average customer spend with you?
£3200 (Based on a 2 week brief charging £10 an hour)
HOW WILL YOU PROMOTE YOUR BUSINESS?
How will you advertise your products / services?
We will have a website set up, as well as distributing business cards to potential clients, and using networking events and business link to advertise our services.
What other marketing methods would be effective for you?
We will be hosting an event called Bump and Bind where we showcase local designer talent, and as it is a design networking event, we hope that this will get our name out there and this will help to market our studio.
SET UP COSTS
Legal costs
£2000
Resources
£12000
Marketing
£500-£1000
How will you finance the business start up?
We are interested in seeking funding from the Design Council. As well as using and equal amount of savings and a small business loan.
YOUR PRICES
How have you worked out your prices?
By looking at similar businesses to see what they charge.
How do your prices compare with your competitors?
As a small, start up business we will try to be as competitive with our pricings as possible.
HOW WILL YOU MONITOR YOUR PROGRESS?
Financial Control
Monthly meetings to sort out accounts and discuss finances.
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