10203125Business of Photography
Course Information
Description
This course is designed to help students understand the basic principles of creating a photo business. Throughout the semester students will research and create their own business plans. Areas such as sales revenue forecast, marketing, overhead and capital spending plan will be explored.
Total Credits
2
Prior Learning Assessment
  • Experiential-Portfolio
Course Competencies
  1. Analyze common business structures and goals in the industry
    Assessment Strategies
    Written product
    Criteria
    Explain the structure of a common photography business
    Explain common goals of a photography business
    Analysis includes product lines, photographic services, and studio overhead

  2. Create a mission statement and elevator speech
    Assessment Strategies
    Written product, oral presentation
    Criteria
    Mission statement includes why a business exists, overall goals, what kind of product or service the business provides, primary customers or market and geographical region of operation.
    Create a short description of a photography company that explains the business concept
    Elevator speech is less than 1 minute
    Elevator speech is concise, easy to understand and describes yourself and/or business and the services you offer

  3. Assess your current expenses/overhead
    Assessment Strategies
    Chart of Studio Accounts Income/Expenses
    Criteria
    Chart includes all of the current product services and possible future services (income)
    Chart includes all of the expenses that your studio incurs in a year
    Explain the purpose of codes in an account overview of your product and services

  4. Calculate cost of operation, cost of goods and profit
    Assessment Strategies
    Cost of Studio Operation Project, Fictitious Daily Receipt Record Log
    Criteria
    Record log includes date, customer name, amount received, product line, tax, cash, check, cash or credit card
    Use credit card processing service for calculations and payments
    Project identifies a percentage for cost of goods
    Project includes all income and expenses of a studio by month
    Analyze deductions allowable for business expenses such as phone, rent, or other overhead
    Analyze a variety expenses related to business ownership, such as insurance
    Project identifies a target salary per month
    Calculations are accurate

  5. Create a functional marketing concept to complement a successful business
    Assessment Strategies
    Written Product
    Criteria
    Marketing plan identifies a product line
    Marketing plan identifies potential buyers and existing product lines
    Marketing plan aligns product lines to potential buyers
    Identify methods for marketing (direct mail, electronic media, social networking, displays, direct contact, phone calls)
    Describe the purpose and practices of a rep program
    Describe the process of donating services as a marketing method
    Map marketing methods to implementation calendar/timeline (by month)

  6. Create a business plan with marketing elements
    Assessment Strategies
    Written Product, Presentation
    Criteria
    Plan includes:
    Company logo that represents the brand and colors (cover sheet)
    Mission Statement
    Chart of Accounts (Income, Expenses)
    Wedding/Commercial Packages (If Applicable)
    Portrait Packages (If Applicable)
    Portrait Pricing Spreadsheet (w/cost of goods %)
    Product Lines Spreadsheet
    Monthly Income/Expense Spreadsheet
    Capital Expenditures Spreadsheet
    Five Year Projection Spreadsheet
    Implementation Calendars (Outline sheet and calendar for each product line)
    Final Cash Flow Business Spreadsheet