Photography Studio

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Executive Summary

Golden Hour Photography is a photography studio serving families, small businesses and event hosts in our city and the nearby suburbs. We shoot portraits, family and senior sessions, events, headshots and brand photos for local businesses. People want photos that capture who they are, but many photographers are expensive, slow to deliver or hard to book. Small businesses need good images for their websites and social media and cannot afford a big agency. We will win clients by being friendly, easy to work with, fast to deliver and clear about what each package includes. Here is what our numbers show. We expect sales of about $72,000 in Year 1, growing to about $287,900 by Year 5 as we add a second shooter and editor and more business and brand clients. We expect losses of about $27,600 in Year 1 and $24,000 in Year 2 while we build our customer base, then a profit from Year 3 (about $16,500), growing to about $55,800 by Year 5. We need $75,000 in total. That covers $20,250 in startup costs (cameras and lenses, lighting, a computer, insurance, contract setup, a portfolio website and a studio deposit) and a cash cushion of about three months of bills. I am putting in $12,000 of my own money, and I am asking for $62,500 as an SBA 7(a) loan, plus $500 from an investor or partner. I will shoot on location and in a rented studio by the hour, so I do not need a lease on day one. I am Kevin Patel, the owner. These numbers are estimates based on the assumptions listed at the end of this plan, not promises.

Company Description

Golden Hour Photography will be a limited liability company (LLC) in West Virginia, owned by Kevin Patel. We will work from my home, with equipment stored in a locked closet and edited at a desk in my office. What we believe. Make people comfortable, deliver on time, be clear about what is included and treat every photo as a keepsake. What we offer:
- Family, portrait and senior sessions. - Headshots for professionals and teams. - Events: birthdays, graduations, parties and small weddings. - Brand and product photography for small businesses. - Photo packages with prints, albums and digital downloads. Licenses and insurance. Photography needs few licenses, but rules vary. Most places require a business license, and some states charge sales tax on photography services or prints. Our state does not tax photography services, and our city requires a $50 business license. We will use a written contract for every job, get written permission (a model release) before using a person's image in marketing and carry equipment and liability insurance. Where things stand today. I have shot sessions for friends and family for three years, I own a camera and two lenses, and I have a portfolio of past sessions.

Problem & Opportunity

Families and local businesses near us want good photos and a photographer who is easy to work with. 1. High prices. Many photographers charge a lot and then charge extra for each digital file. 2. Slow delivery. Clients often wait weeks for their photos. 3. Unclear packages. People do not know what they will get until after the shoot. 4. Business needs. Small businesses need professional images but have small budgets. How we know people want this. Twelve friends and family paid for sessions last year, and two local businesses asked about product photos.

Products & Services

What we sell. 1. Portrait and event sessions. A photo session for a family, an individual or a small event, with edited images. Our plan assumes an average of about $450 per session in Year 1, rising to about $510 by Year 5. Direct costs, such as prints, albums and studio time, run about $80 per session. We expect about 120 sessions in Year 1 (about 2 a week), growing to about 392 sessions a year by Year 5. 2. Commercial and brand contracts. Photos for businesses: products, staff headshots, menus and social media content. Our plan assumes an average of about $1,800 per contract in Year 1, rising to about $2,000. Direct costs run about $300 per contract. We expect about 10 contracts in Year 1, growing to about 44. Our prices. Mini session $200. Family session $450. Headshot $175. Business product shoot from $900. How it works for the customer:
1. A free intro call or message, to talk about what you need and your budget. 2. A written package and price, and a booking with a deposit. 3. A relaxed session, with guidance on posing and what to wear. 4. A preview within days and the full edited gallery in about two weeks. Gross margin, explained. "Gross margin" is the share of each sale left after paying for materials and direct job costs. Our plan shows about 82% in Year 1. That money pays the owner and crew, vehicle costs, insurance and other bills.

Market Analysis

Who will hire us:
- Families who want portraits and holiday photos. - High school seniors and graduates. - Professionals who need headshots. - Small businesses, restaurants and shops that need images for their websites and social media. Where we will work. Sessions on location and in a rented studio, starting with the east side of our city and two nearby towns within 20 minutes of my home. Season. Photography is busiest in spring and fall for families and seniors, and before the holidays. Commercial and headshot work helps fill the quieter months. Our plan is careful on purpose. About 2 sessions a week in Year 1 is a pace one photographer can handle well, including editing time.

Competitive Landscape

Other choices customers have:
1. Other local photographers. Maple Street Photography (a made-up name) charges about $400 for a family session; known for a polished style, but slow to deliver. 2. Large portrait studios in stores. Cheap for a basic package, but less personal. 3. Friends with good cameras and phone photos. Free, but not the same quality or reliability. How we will win customers: a friendly, relaxed style, fast delivery, clear packages and prices and reliable follow-through.

Marketing & Sales Strategy

How people will find us. - A portfolio website and a free Google business listing with reviews. - Social media posts of real sessions (with permission). - Mini-session days and seasonal offers. - Relationships with schools, wedding venues, real estate agents and local businesses. - Asking every happy client for a review and a referral. Marketing budget. About $6,000 a year. The logo, website and business cards are paid for from startup costs.

Operations Plan

How the business runs day to day. Bookings and sessions. The owner books sessions online, shoots on location or in a studio rented by the hour, edits and delivers galleries. In Year 1 the owner works alone. We add one second shooter and editor in Year 2 and grow to two by Year 5. Each job has a contract, a deposit, a shot list and a delivery date. Equipment. About $15,000 to start: professional camera body and backup body; lenses: portrait, wide and zoom; lighting kit: strobes, stands and modifiers; tripods, backdrops and reflectors; computer and color-accurate editing monitor; memory cards, storage and backup drives; camera bag and accessories. We set aside about $2,000 to $3,000 a year for repairs and replacements. Upkeep. Cameras and lenses cleaned and backed up regularly, files stored in at least two places and equipment insured and serviced. Safety. Safe handling of lights and cords, care on location with children and animals, and backup equipment for important events. Running costs in Year 1: studio rental and equipment about $14,000, marketing about $6,000, admin and insurance about $4,000. Scheduling and billing. An online booking and invoicing system, with a deposit at booking and the balance on the shoot day.

Management & Organization

Who runs the business. Kevin Patel, owner. As owner I will shoot, edit, book clients, market the studio and handle the money side of the business. I plan to pay myself $52,000 a year in salary in Year 1. Crew. Second shooters and editors at about $38,000 a year each (or part-time pay): none in Year 1, one in Year 2, one in Year 3, two in Year 4 and two in Year 5. People who will help us: a bookkeeper or tax preparer, an insurance agent, and a free mentor from SCORE or the Small Business Development Center (SBDC). Jorge Carter serves as a key volunteer advisor.

Milestones Narrative

Our goals and when we plan to reach them. - Before starting: register the business, get insurance, buy cameras and lighting, build the portfolio website and book the first sessions. Target start: March 2027. - First year: complete about 120 sessions and 10 business contracts, for about $72,000 in sales. - Year 2: add a second shooter and editor, about $123,000 in sales, and a loss of about $24,000. - Years 3 to 5: grow to two second shooters and editors and about $287,900 in sales by Year 5. Growth depends on hiring good people and winning the work, so treat the later years as goals, not promises. What we check every week: sessions booked and delivered, new inquiries, reviews, editing backlog, and cash in the bank.

Funding Request

How much we need and how we will use it. Total needed: $75,000. The Funding Need Calculator in this plan shows a minimum, and we plan to raise a little more than that so the loan payments in the early years are also covered. The calculator's number adds up: - Startup costs of $20,250, listed item by item in the Startup Costs section (about $15,000 for the cameras, lenses, lighting, computer and storage, $150 for the business license, $1,200 for the first insurance payment, $600 for contracts, releases and bookkeeping setup, $1,800 for a logo, portfolio website and business cards, and $1,500 for the studio rental deposit). - A cash cushion of about $54,750: the deepest cash dip in the early months plus about three months of bills, so slow weeks do not put the business at risk. Lenders call this "cash cushion." - Together that comes to about $74,500 (rounded up to the nearest $500), which is the minimum the calculator shows. We are planning for $75,000, which adds room for the early loan payments. Where the money comes from: - My own money: $12,000. - Amount requested: $62,500. - From an investor or partner: $500. Kind of funding we are looking for: an SBA 7(a) loan through a local bank or community lender, plus investor or partner money, which is not paid back with interest but gives that person a share of the business. How we will pay it back. We expect losses of about $27,600 in Year 1 and $24,000 in Year 2 while we build our customer base, then a profit from Year 3 (about $16,500), growing to about $55,800 by Year 5. With this funding, the business has money in the bank every year of the plan. The loan is planned at 12.75% interest over 10 years, the most the SBA allows for a loan this size, so payments of about $924 a month are already included in our cash flow. What we are offering the lender: our camera equipment and my personal guarantee A smaller first step, if needed. If we cannot raise the full amount right away, we can start smaller and grow into this plan: - Phase 1: start with the camera and lenses you already have, shooting a few sessions a month on location while keeping your current job. Startup can be under $1,500. - Phase 2: once you have more clients than you can handle part-time, buy the lighting kit and a better computer and follow this plan. To plan the smaller start, make a copy of this plan (use Duplicate) and lower the numbers to match. All numbers in this plan are estimates. We will update them as real results come in.

Appendix Notes

Documents to attach before you send this plan:

- Your resume (one page is fine) and any licenses or certificates. - A personal financial statement (a list of what you own and what you owe; lenders usually provide a form). - Business registration papers and your EIN (your business tax number from the IRS, free at irs.gov). - Proof of insurance, or a quote. - Your portfolio: 15 to 20 of your best photos. - Your price list and a sample contract. - A list of current clients, if you have them. If you don't have any of this yet, no worries - let's continue. The assumptions behind our numbers (change them in the Financials section to match your own):
- Portrait & Event Sessions: about $450 per session in Year 1, rising to $510; about $80 per session in direct costs; about 120 sessions in Year 1, growing to 392. - Commercial & Brand Contracts: about $1,800 per contract in Year 1, rising to $2,000; about $300 per contract in direct costs; about 10 contracts in Year 1, growing to 44. - Owner salary: $52,000 a year. Crew: $38,000 a year each, from none in Year 1 to two in Year 5. - Other yearly costs in Year 1: studio rental and equipment about $14,000, marketing about $6,000, admin and insurance about $4,000. - Tax rate: 21%. - Every dollar amount is an estimate. Replace them with your own quotes and research.

Startup Costs