Executive Summary
The name of the company is the Digifancy Images Camera Company. The company is located in Florida. Digifantasy Images Camera Company is a retail company, which deals with camera products. The company performance and competitiveness are build on, strong attractive, pricing, greater advertising, greater selection of camera models, high quality camera and longer warranties, and intensified marketing campaigns and sales promotion. The purpose of the plan is to provide all the requirements and strategies for easy implementation and start up of the business. The business targets at producing top quality camera with high performance index at low cost. The business targets all the general population and the media industries.
Company Overview
Digigfancy Images Camera Company is both retail and a wholesale company, which deals with quality cameras and is of the latest models. The company deals with sophisticated cameras, which are affordable to all customers. The company provides to all the customers a warranty of one year.
Mission
As the world embraces technology, the use of digital cameras has become a reality and most of the individual are now in need of the digital cameras. In Florida being one of the world business destination, provides rich market for the camera products. Florida being a tourist destination, the tourists need cameras for use in exploration. Florida also being one of the best urban centers in the world, it has harbored different media houses thus provides a large market for the camera products.
Competition Analysis
Currently there are many digital companies in Florida providing products and services related to cameras. There relevancy and their strength in the market are not so strong due to inadequate interactive services to the customers these companies to give their customers warranties on their products. The timing of the Digifancy Image Camera Company is beneficial since it will have high customer base as compared to other companies in Florida dealing with cameras.
Marketing Strategy
The marketing strategy for the company is to launch the company in the next three months to create an impact in the market. The company will avail all models of cameras in its shelf to give its customers variety to choose from. The cameras will include all the latest models in the market, and there will be variation. This will ensure the customer needs are considered. Ensure the company’s premises are accessible and are open to customers 24 hours a day. The company will provide a high level of personalized service to customers including giving warranties to all the cameras. The company will use promotions to advertise their products. This will be done after 3 months through popular media avenues.
Sales Strategies
The company plans to use the word of mouth in its initial stages of introducing the product to the market. The company will also target the chat groups in the social networks. The company will employ the use of internet advertising to increase sales. The company also looks forward of employing sales executives to market the company’s products. The sales representatives will work in other towns other than Florida.
Strategic Alliances
The company to look at the possibilities of establishing links with key companies that will boost the company’s image. The alliances aim to promote the intensive co-marketing by the organizations in partnership with the objective of each company driving traffic and consciousness of the other company products and services.
Management Structure
The company’s management team is a combination of prolific executives with extensive knowledge in managerial issues and well conversant with the camera technologies. The Digibfansy Image Camera Company will contain one the executive, two senior executives, five sales representative, 20 support staff to facilitate the promotion and other in different customer care representatives. The company will employ staff in full time staff to implement the business plan as outlined in the plan. The company executive staff will be based in Florida town.
Financial Plan
Digifansy Image Camera Company
Sources of Capital
Investment requirement $ 80,000
Total Investment $80,000
Startup Expenses
Staff remuneration $7,000
Capital expenditures $6,000
Consulting services $5,500
Promotion $2,000
Total Start-up Expenses $ 59,500
Needs Summary
The company will require the following: Printers and printing materials, computers, office furniture, Electrical connections, electricity, and internet access.
Revenue Model
Revenue Forecast (3 Years)
Digifansy Image Camera Company
Revenue Forecast (3-year )
Camera model
Year 1
Year 2
Year 3
RT Series
$ 123,000
$ 150,000
$ 210,000
KMN model
$45,000
$120,000
$360,000
Accessories
$12,000
$20,000
$60,000
Total Revenue
$179,000
$290,000
$630,000
Assumptions and Comments
The business plan will succeed if it will implement the ideas in the strategic plan. The company executives should take into account each detail of the plan to succeed. The proposed strategies should have an impact on the success of the plan. The company should also look for other sources of raising capital for future expansion.
Implementation Schedule
The launching of the company will be on12th December 2011 at the company headquarters, Florida. Company’s official operation will kick off on 13th December 2011. Company’s first promotion roads show will commence on 3rd January 2011 and the second company’s promotion will be on4th March, 2011.
