Posted by Matthew Deutsch on November 21st, 2011 at 05:31am
In this article, we will discuss the development of a Photography Studio SWOT analysis, its development, and how it can be used to acquire financing from a bank or investor. Photography studios generally are able to remain profitable and cash flow positive in any economic climate due to the fact that they are able to render a service that is in constant demand among the general public. One of the best aspects of a photography studio is that they are able to generate highly gross margins from their services. A well written Photography Studio SWOT analysis will feature a strengths section, a weaknesses section, and opportunities discussion, and a threats discussion. One of the nice things about photography studios is that they are able to generate predicable streams of revenue due to the fact that people are going to host events that require the services of a professional photographer despite negative changes in the economy. This is extremely important to note within your business plan as well as your SWOT analysis as it relates to your photography business. One of the other things that you are going to need to mention is that these businesses typically generate very high gross margins on a regular basis from providing their services to the general public. This is something that we are going to continue to discuss through many of our article as it relates to photography studio SWOT analysis development.
Most importantly and first, you are going to want to focus heavily on the strengths that are associated with your photography studio. Foremost, you should again reiterate the high gross margins generated from your photography studio services while also showcasing the generally low costs associated with operating this type of business. Another important mention should be the relatively low cost overhead associated with operating this type of business.
Also within the strengths section of the SWOT analysis, you should focus on your abilities to operate this business on a day to day basis, your experience as an entrepreneur, and how you intend to bring the operations of your photography studio to profitability very quickly.
The next section of the Photography Studio SWOT analysis focuses significantly on the weaknesses that are associated with this type of business. Foremost, you should heavily discuss the fact that there are many other types of businesses that operate in a similar capacity to your photography studio. You may also want to discuss the relatively high start up costs that are associated with a photography studio.
Next, you are going to want to focus significantly on the opportunities that your business will have to expand during its first five years of operation. This may include developing new locations, hiring additional personnel, and engaging in a broad based marketing campaign that will ensure that your photography studio business is able to rapidly expand and repay its debts on a timely basis.
Finally, you are going to want to effectively showcase to your SBA loan banker or investor the threats that will be faced by your photography studio. We strongly recommend that you emphasize a number of these issues as it will be to the benefit of your investor or banker to see how you intend to mitigate these risks as time progresses.
As always, we strong recommend that you work closely with a number of professionals including CPAs, attorneys, SBA loan consultants, conventional loan consultants, and other professionals that will ensure that you have produced a Photography Studio SWOT analysis and business plan that is appropriate for both a bank and a potential investor. It is imperative that you have a clear understanding of the complex nature of raising capital for your venture and by having a number of professionals in place – you will be in an outstanding position to receive the capital you need in order to start your photography studio.
Tags: Busin, Business Plan, Cash Flow, Economic Climate, Economy, Fact That People, Focus, Gross Margins, Host Events, Investor, Negative Changes, Nice Things, Photography Business, Photography Services, Photography Studio, Photography Studios, Professional Photographer, Streams, Swot Analysis
Under SBA Loan SWOT Analysis