BUSINESS PLAN
I recently went along to the York Air Museum with Adam Watson, to assist in creating a behind-the-scenes event video for the museum to show future clients.
Details
Business Name: British Event Coverage (BEC)
Founder/ Owner: Chris Healey
Staff roles:
Expansion
The long term plan for the business is to expand the size of the business and improving the quality and standard of the videos and photos produced from the company. The expansion plan includes hiring more staff to cope with a larger demand for content, moving to a larger office to cope with the expanded business, look more professional and comfortably accommodate the staff,
Hopefully sometime in the near-future, the plan is to expand our UK based business into Europe and then eventually make the business a Worldwide business, covering events from anywhere in the world and hopefully link in with some News organisations and sell content to them or anyone else interested.
The business expansion would bring in more money than ever and would allow us to buy in a mass of professional standard equipment, such as cameras, lenses and drones. We could also invest in vehicles to improve our mobility, such as a helicopter or company plane for international events.
BRITISH EVENT COVERAGE
Idea
The idea is to create a small company that can be hired to make videos and/ or take photos of any event, such as music concerts, festivals, weddings or company promotion videos for a negotiated price.
Influences
‘WeddingsByWilson’ is a similar business, run by an independent person. Wilson also does TV broadcast work in between weddings to keep his income consistent.I recently went along to the York Air Museum with Adam Watson, to assist in creating a behind-the-scenes event video for the museum to show future clients.
Details
Business Name: British Event Coverage (BEC)
Founder/ Owner: Chris Healey
Staff roles:
- Cinematographer
- Photographer
- Editor
- Producer
In the early stages of the company which may be the first few months, or years, only one person will be employed, which will be myself with the occasional assistance from my friend Adam on the bigger events. I believe I am skilled enough to do all the pre-production, production and post-production without assistance. Later this summer, I am going down to Leeds festival to be one of their photographers, which will give me some great experience of what it's like and what I'll need to improve on for other events.
Office Location: Yarm
SWOT
As a business, I believe we have many potential strengths, as there is a large demand for coverage of events, especially with the use of social media and platforms such as Vimeo and YouTube in full swing. Whether it be a music festival, sporting event, wedding, car show or a nightclub, everyone wants videos to advertise their companies and upcoming events their hosting.
The fact that the equipment is such an expensive investment is a weakness for the company, in the early stages of the process when the only employee is myself, I will find it hard to manage all of the different roles, which still advertising the business and getting the business out there.
The business has many, many opportunities and I'm very optimistic that we'll make the most of them and hopefully make some good contacts along the way in which we can use to build on and creatively use to inspire us in our creation of content.
Even though the business idea does sound promising, it's not exactly an original idea and has been and is still being done by a lot of people today, so it may be hard to get jobs as everyone is also fighting for the same events to cover, which is our main threat as a business. Even though there may be a lot of people doing the same thing, I want to show people why they should choose us over everyone else and I will need to try hard to prove that our content is a greater standard of quality than everyone else's in the early stages of the business.
Income
As a business, I believe we have many potential strengths, as there is a large demand for coverage of events, especially with the use of social media and platforms such as Vimeo and YouTube in full swing. Whether it be a music festival, sporting event, wedding, car show or a nightclub, everyone wants videos to advertise their companies and upcoming events their hosting.
The fact that the equipment is such an expensive investment is a weakness for the company, in the early stages of the process when the only employee is myself, I will find it hard to manage all of the different roles, which still advertising the business and getting the business out there.
The business has many, many opportunities and I'm very optimistic that we'll make the most of them and hopefully make some good contacts along the way in which we can use to build on and creatively use to inspire us in our creation of content.
Even though the business idea does sound promising, it's not exactly an original idea and has been and is still being done by a lot of people today, so it may be hard to get jobs as everyone is also fighting for the same events to cover, which is our main threat as a business. Even though there may be a lot of people doing the same thing, I want to show people why they should choose us over everyone else and I will need to try hard to prove that our content is a greater standard of quality than everyone else's in the early stages of the business.
Income
As I don't own too much equipment at the moment, I will need to get either a loan from the bank, which I will use to buy camera equipment or a vehicle to transport from event to event and I will repay that loan. Alternatively, I could write a letter to the Price's trust foundation in the hope of a grant, in which I will be able to start to business on. Once I have the equipment, the rest is relatively easy as I can then begin doing jobs for people and covering local events, which will give me the money to expand the company.
Since I will be the only employee, there is no need to split the profits so I will be making the maximum amount. However, when I start to get a lot of requests for jobs, I will consider hiring more staff members which will allow us to say yes to every request and gain more money. Some of the money will also need to go on taxes and licencing for the business.
Since I will be the only employee, there is no need to split the profits so I will be making the maximum amount. However, when I start to get a lot of requests for jobs, I will consider hiring more staff members which will allow us to say yes to every request and gain more money. Some of the money will also need to go on taxes and licencing for the business.
Expansion
The long term plan for the business is to expand the size of the business and improving the quality and standard of the videos and photos produced from the company. The expansion plan includes hiring more staff to cope with a larger demand for content, moving to a larger office to cope with the expanded business, look more professional and comfortably accommodate the staff,
Hopefully sometime in the near-future, the plan is to expand our UK based business into Europe and then eventually make the business a Worldwide business, covering events from anywhere in the world and hopefully link in with some News organisations and sell content to them or anyone else interested.
The business expansion would bring in more money than ever and would allow us to buy in a mass of professional standard equipment, such as cameras, lenses and drones. We could also invest in vehicles to improve our mobility, such as a helicopter or company plane for international events.
