Putting together your ‘Studio’ Business Plan – Part 3

3. Sales and marketing

This is often a last minute job when starting a business. Putting together a sales and marketing plan is actually incredibly important and vital to the success of your business, especially when you think that this will be the means by which you tell the world that your business exists.

You must use this section to describe how you will bring your product or service to market. Specify where you expect customers to be able to buy your product, listing which types of retailer you will target (in the case of commercial photography or gallery sales) and whether you plan to sell online, offline or both. If you are selling a service, how will people get to know about it? List the marketing channels do you plan to use, such as PR, advertising, online, direct mail etc, and add detail about how each will benefit your business.

Think about your position within the market and how you can create a niche for your business in the minds of your customers. If you’ve developed a brand, or plan to, include details and even any designs you have prepared. Branding is another vital key to success. To look different is to be seen to be different and the uniqueness 0f your business will stand out above your competition.

Particularly important is how you price your products and you should include justification for your decision in the plan.

Finally, write a sales plan including which suppliers, retailers or customers you intend to target.

More soon…

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