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1.0 EXECUTIVE SUMMARY

Mr. Image is a graphic designs and multimedia services firm, a partnership owned and operated by Ariel Cabinbin, Niel Sumagaysay, and Ian Jay Tomas. Mr. Image will operate out of a small office at Pantua Village, Baranggay Zone 3, Koronadal City, South Cotabato.The firm offers video editing and T-shirt printing services. They will also offer making of customized memorabilia such as tumblers, badges, mugs and bag tags. Printed T-shirts and memorabilia will be available for sale.The firm’s targeted customersincludethe people, institutions and organizations of Koronadal City primarily NDMU and STI as these are the most accessible

potential customers in the firm’s location.

Mr. Image aims to offer cheaper yet excellent service with a personal touch, and offering value- added services related to the customers.The firmwill maximize the utilization on networking and referrals most importantly its advertisements to develop visibility for the company. Through all of these, prospective customers will turn the figures of sales, shown in figures in the financial plan, into reality. Moreover, the payback period is eight (8) months and the firm will generate P298,633.98 net income in year three.

Table 1.0Highlight in the Income Statement

P

1,400,000.00

1,200,000.00

1,000,000.00

800,000.00

600,000.00

400,000.00

200,000.00

-

Sales Gross Profit Net Income Year Year Year 3 2 1
Sales
Gross Profit
Net Income
Year
Year
Year
3
2
1

1

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1.1

Vision

Mr. Image plans to become known as the most profitable premier graphic designs and multimedia services firm in the Koronadal City after three years.

  • 1.2 Mission

The Mr. Image‘s mission is to provide the customers with the best and practical graphic designs and multimedia services in the city. We aim to offer cheaper yet excellent service with a personal touch, and offering value-added services related to the customers.

  • 1.3 Objectives

The objectives of Mr. Image include:

  • 1. To be profitable within the first year of operations.

  • 2. To achieve customer satisfaction by providing services exceeding customer's expectations.

  • 3. To make the customers or clients feel at home transacting and a part of the creative process.

  • 4. To create a firm that provides the target customers with quality services and provides the owner with a flexible, creative, fun, and profitable business opportunity.

  • 1.4 Keys to Success

The keys to success are:

o Professionalism

o

Creativity and Competence

o

Love of work

o

Good customer relationship

2.0 COMPANY SUMMARY

2.1Business Description

Mr. Image is a graphic designs and multimedia services firm, a partnership owned and operated by Ariel Cabinbin, Niel Sumagaysay, and Ian Jay Tomas. Mr. Image will operate out of a small office at Pantua Village, Baranggay Zone 3, Koronadal City, South Cotabato.

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2.2

Background

The owners, Ariel, Niel, and Ian, are currently 5 th year Bachelor of Science in Accountancy students of Notre Dame of Marbel University. They are all knowledgeable and well-equipped in graphic designing.Ariel is good in managerial skills evidenced by the various school events he has facilitated and managed. Ian has designed various event invitations and program in the Accountancy department. For the past school years, Niel has rendered video-editing services to different organizations inside and outside NDMU. These have made him a premiere video-editor in the campus for various events.Hence, their skill set and capacity as a creative graphic designer and multimedia service provider in the campus justify their partnership creating Mr. Image.

2.2 Background The owners, Ariel, Niel, and Ian, are currently 5 year Bachelor of Science in
  • 2.3 Business Name

The partnership is named as “Mr. Image” was the idea of Ariel approved by Niel and Ian. The tagline “We create the BEST” simply because we wanted to create the image of best graphic designing and multimedia services business in the city. Thus, “Mr.” addresses the founders and “Image” represents the graphic design and multimedia services being offered.

  • 2.4 Business Logo

The overlapping letters “M” & “r” represents the founders working together as they operate the partnership. Grammatically, the“period” emphasizes the “Mr.” addressing the founders. The color transition of the “Mr.” from dark blue to light blue means transformation from good services to bestservices which is undertaken as the firm operates. The two horizontal lines emphasize “Mr. Image” rendering “Graphic Design and Multimedia”services.

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2.5 Start-up Funding

Table 1.2 Start-up Expenses

Start-up Expenses

8,671.36

Cash Required

Total Start-up Assets

28,500.00

Total Start-up Expenses

3,000.00

Start-up Supplies and Inventory

10,900.00

Laptop

120,000.00

Total Requirements

91,500.00

Total Assets

30,095.56

Long-term Assets

Other Assets

(52,000.00)

Accumulated Depreciation – Laptop

52,000.00

5,000.00

Promotional Products

36,833.08

Internet Subscription (3 months)

Business Permit and Licensing Fee

5,000.00

Posters and Flyers

5,000.00

Radio Advertisement

5,000.00

Office Rentals (3 months)

10,500.00

Note that under Other Assets are as follows:

Electric Fan

P2400

Furniture and Fixture

6500

Internal refurbishment

2000__

Total

P10,900

Table 1.3 Start-up Funding

Start-Up Funding

-0-

20,000.00

8,671.36

28,500.00

82,828.64

120,000.00

91,500.00

Start-up Expenses to Fund

Liabilities and Partners’ Capital

Tomas, Capital

Long-term Borrowing

28,500.00

Start-up Assets to Fund

Total Funding Requirements

Less: Assets

Non-cash Assets from Start-up

Cash Requirement from Start-up

Less: Start-up Expenses to Fund

Cash Balance on Starting Date

Cabinbin, Capital

Liabilities

Current Borrowing

Total Planned Investment

20,000.00

33,333.33

33,333.33

33,333.33

100,000.00

120,000.00

Total Funding

Total Liabilities

Partners’ Capital

Sumagaysay, Capital

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3.0 SERVICES AND PRODUCTS

Mr. Image offers multimedia services including video editing and video compilation. The firm also offers T-shirt printing services including printing white and colored T-shirts.Another is making of customized memorabilia such as tumblers,badges, mugs and bag tags. Printed T- shirts and memorabilia will be available for sale in the firm’s office.

Figure 2.0 Sample Designs and Outputs

 White T-Shirts
White T-Shirts
 Colored T-Shirts 6 | P a g e
Colored T-Shirts
6 | P a g e
 Badges  Tumblers
Badges
Tumblers
 Bag Tags
Bag Tags
 Badges  Tumblers  Bag Tags 7 | P a g e
 Badges  Tumblers  Bag Tags 7 | P a g e
 Badges  Tumblers  Bag Tags 7 | P a g e
 Badges  Tumblers  Bag Tags 7 | P a g e
 Mugs
Mugs

4.0 BUSINESS ENVIRONMENT ANALYSIS

4.1 Industry Analysis

  • 4.1.1 Industry Description

This industry analysis will aid in researching the industry in which Mr. Image Graphic Designs and Multimedia Services will be located. This is a graphic design and multimedia industry. We can also determine how the company will compete in the industry.

  • 4.1.2 Industry Trends

Koronadal City is a 1st class component city in the Philippines. It is endowed with rich natural resources and has the potential of becoming one of the fastest growing local economies in the country. Since it is a growing economy it is expected that many businesses in the city are to be established. Graphic design and multimedia is a growing industry in the said locality. According to an article about Graphic Designs and Multimedia Businesses, it is expected that the graphic design and multimedia will increase to 13% in business from 2008 to 2018. This growth is due to constantly increasing demand for such services and other multimedia applications. Graphic designers with strong animation and design skills face the best prospects. Moreover, competitors in the city pose a low threat because it is still a growing industry that means that competitors are expected in the future. According to the Department of Trade and Industry graphic design and multimedia industry is still new in the locality. With a large population in the city, there is a high demand for such skills in order to adapt to the fast changes in technology.

4.1.3 Profit Potential

Profit potential can be determined by performing a five forces analysis. There are five forces that threaten the performance of the graphic design and multimedia industry: rivalry, buyers, substitutes, new entry, and suppliers. A more in depth analysis follows.

Substitutes pose a medium threat to the industry. Substitute to graphic design and multimedia services include graphic design software that will be able individuals to create their own designs without the need of our services. Although, there are graphic design software that will aid their needs, skills and knowledge are required to have such quality output.

New entrants pose a low to medium threat to the industry. This is a growing industry, so there will likely be many new entrants into the industry in the future because it is ripe for innovation. However companies entering will still face challenges. To compete with this industry, companies would need large amounts of funding. They would also need marketing and networking in order to gain consumer knowledge and demand. New entrants would also have to endure these expenses to differentiate their own products and gain the support of consumers.

The industry’s rivals consist of all businesses that produce the means of graphics design. The threat of rivalry is somewhat low. The number and balance of competitors is low. Since this is a relatively new industry that is just beginning to realize growth, there are no strong competitors. The fact that the industry is growing is another reason that rivalry is low. Therefore, there is room in the market for the new competitors.

Suppliers pose a low threat to the graphic design industry. Suppliers for a graphic design can be easily obtained and the demand for this kind of industry is

growing. Since, it is still growing, the buyers for this kind of industry is relatively

not that much. large threat.

There seems to be a large quantity of suppliers, so this is not a

Buyers

exert

a

somewhat

strong

force

in

the

graphics

design

and

multimedia industry. In this case the buyers/customers are those who use and

purchase some form of products and services. Consumers have the option of choosing where to acquire such services depending on their preferences.

After evaluating the five forces model on the graphics design and multimedia industry it can be concluded that most of the forces are moderate to high, therefore threats in the industry could greatly affect industry profitability. The only low force was rivalry among competitors, and this is because the industry is growing. It is likely to grow more in the future therefore the industry is ready for innovation. The graphics design industry is a realistic place to start and be successful in a new venture.

4.1.4 Competitive position within target market

The graphic design and multimedia industry deals with direct, indirect, and future competitors. Direct competitors are those who offer identical or similar products, such as other graphic design businesses that are already established. Indirect competitors offer close substitute products, such as companies providing a similar means of services. Future competitors are those who are not yet direct or indirect competitors, but could be at any time. Another competitor is the status quo. People are generally resistant to change, and often would rather keep their money than spend it. To combat this, a product’s utility must rise above the cost, and consumers must be educated.

Staying competitive with other companies in this industry will require competitive price and quality, effective marketing, continuous improvement, as well as a variety of other factors. Since this is a growing industry there are sure to be new entrants into the market in the future.

4.2 SWOT Analysis

Strengths

A convenient

office that

is accessible to customers as well

as gives

off the

perception of creative, quality design, implying a skilled service provider. A unique combination of both creative and business sense. Cheaper products and services prices than existing graphic designs and multimedia services businesses. No competitor identified along the location of the firm. Working attitude of the owners is undeniably great. Payback period does not take years, only eight months to be exact.

Weaknesses

We cannot accommodate bulk orders due to lack of adequate capital Increasingly limited amount of time for marketing activities as more and more time is needed to finish projects because of limited manpower.

Opportunity A growing market that does not seem to be focused on attracting a target customer segment. The ability to generate future business by leveraging the technological advances of the Internet. An industry that is not significantly affected by slumps in the economy. An industry that can help to boost our local economy.

Threats Competition from local competitors who offers same type of products and services. Significant increase in ease of use of graphic design software that allows individuals to design their own graphical pieces.

5.0 Marketing Plan

5.1 Target Market

The Mr. Image will be targeting the primary and general market. The general market includes people, institutions and organizations of Koronadal City. People include students, teachers, personnel, employees, employers, professionals, and all other normal persons not an institution and an organization in nature. Institutions include schools, hospitals and more. Organizations include government organizations and sectors, firms/businesses and more.

The primary markets are NDMU and STI, includingall potential customers from these institutions. The location of NDMU and of STI is very close to the location of the firm

that is at Pantua Villagewhich is very accessible to them as the firm’s primary markets. Aside from the location, the demand on the services offered by Mr. Image is higher in schools vicinity compare to other commercial locations. According to our interview with the manager of Campus Art, a premier graphic designing firm in the city, approximately 80% of their sales represent the sales to customers from schools.Additionally based on our personal experiences and observations as students, the graphic designs and multimedia services are in demand to students for school requirements, school events and other personal reasons such as trends and likes.

  • 5.2 Marketing Program

The firm will be using the social network sites to advertise its products and services such as facebook, multiply, twitterand tumblr.According to Social Media Statistics, 93.9% of the Filipinos used social networking sites. Thus, this would be the most effective means of advertising the firm.Posters and flyers will also be posted and distributed primarily along Alunan Avenue and Pantua Village. Radio advertisement will also be used.

  • 5.3 Target Market Segment Strategy

Networking. The networking will be based on leveraging Mr. Image’s personal relationships. Ways of networking include sending out notecards to all acquaintances announcing the opening of the firm, periodically meeting with the group of people personally acquainted with the founders such as classmates, teachers, friends and others. This will establishworking network and a means to find out who this person knows within the target market that the firm will try to turn into customers. Client referral. Thenetworksthat the firm could establishwill be the source of referrals. Recognizing that referrals will be a good source of new customers, the firm will work very hard to satisfy all of these customers. By making sure that the firm will exceedcustomers’ expectations increasing the likelihood to receive referrals from satisfied customers, the firm will be able to expand its networks attracting public relations that will be the aid in achieving and maintaining increasing sales. Targeted organization and institution acquisition. This is the researching and strategic formulation to attract a chosen organization and institution to become a customer aside from the primary market, NDMU and STI. The firm will put together a list of 20-30 organizations and institutions that would be excellent customers. Once these have been identified, the firm will devise a strategy to target these companies as customers by initially determining what value can persuade them. Eventually, the goal is to be able to meet with the

decision maker of the firm and present them with a portfolio of Mr. Image’s

sample service and product as well as the proposed value they can offer them.

5.4

Competitive Analysis

Table 1.4Comparative illustration of Mr. Image’s product and services prices with the competitors within and outside its location.

 

Located along Pantua Village

Not Located along Pantua Village

Products

and

Mr.

No

Campus

 

IDEF

Services (per unit)

Image

Competitor

Art

Identitee

Studio

Multimedia

   

Video Editing

 

P250

 

-

  • - P300

 

Video Compilation

 

P100

 

-

  • - P200

 

Graphic Designs

   

White T-shirt Printing

P180

 

-

P200

-

Colored

T-shirt

         

Printing

P180

-

P250

-

Printing

without

T-

         

shirt

P70

-

P80-P100

-

Memorabilia

   

Tumbler

P150

 

P200

P160

-

Mug

P140

 

P200

P150

-

Badge

P20

 

P100

P50

-

Bag Tag

P45

 

P100

P60

-

Illustrated on Table 1.4, all prices of Mr. Image’s product and services offered are lower or cheaper than those of the competitors. Thus, this justifies the firm’s aim to offer cheaper yet excellent service.

6.0 OPERATIONAL PLAN

  • 6.1 Location

It is vital that the graphics design business has a storefront facing onto the main street. The goal is for the clients to be able to see the premises and lessen the difficulty of finding the business location. We will be renting 4 by 8 square meters (See Fig. 1) fully serviced space at cost of Php 3,500 per month. This would serve as a combination of office, warehouse and manufacturing space for the business. Also, we will need to spend Php 10,900 on internal refurbishing, including furniture and fixtures like chairs, desks and other office furnishings. We plan to do some of this work ourselves.

6.2

Choice of Location

We intend to locate within the Pantua Village, Zone III, Koronadal City (See Fig. 2), since this is close to the city center with a high density of both residential and business premises. The pavement is wide, so people can stand and look in the window without being in the way of other pedestrians. Among all the location available, this has a lower rental expenses. Also, there is no competitor as to the services to be rendered by the business in the location. It would also be accessible to students, specifically the Notre Dame of Marbel students and STI students and some other residential clients of Pantua Village.

  • 6.3 Hours of Operation

The online shop will be available for 24 hours a day and orders through e-mails will be checked daily. The business will be operating from 9am until 6pm to cater those clients who are busy during the day. We want to be available so that the clients would consider us as their first point of contact with an informed friendly service.

We believe that since our clients will mostly be students, off-peak-hours access to our services is also a key way in which we can differentiate ourselves from other graphic service providers.

  • 6.4 Equipment

We will be using Epson Sublimation Printer which cost $440 (a total of Php 19,360), free of shipment from Epson Supplier Online. We will also be using a Button Press used to make badges which cost $79.99 (a total of Php 3,299.56), from the same supplier. Also, a separate sublimation heat press for mugs, plate, hat, and t-shirt which cost $169 (or Php 7,436) is to be used to transfer prints from the sublimation paper to the printing canvass.

We will also be using two Laptops, donated by the partners, one for lay-outing the designs for printing and the other is for editing and compiling videos.

A

telephone

line

will

be

installed,

together

with

wireless fidelity (Wi-Fi)

connections, in the business premises to allow customers make orders through the

telephone or internet.

As a graphics service provider, it is essential that we should be updated with new trends so the designs and lay-outs will be based on what is new and trendy among the target clients.

  • 6.5 Labor

Organizational Structure

Managing Partner
Managing
Partner
Partner
Partner
Partner
Partner

The partners will decide among themselves one as a managing partner, but all of them would be basically in charge with the operations. The managing partner will be responsible for overseeing the day-to-day operations of the business. There will be one assigned in the reception area to welcome the customers and to answer telephone calls. All the three partners are knowledgeable of editing, lay-outing, creating, designing the products based on customers demand.

The partners shall divide any profit or loss equally. Withdrawals shall only be allowed to each partner after six months of operation.

Our dress code will be one of our customizable printed shirts with our logo in it to give customers that feeling that our shirts are wearable, durable and of greater quality prints. We plan to start with a staff of three, which would be the partners. We plan to be operating with an additional staff during the 3 rd and 4 th year of business.

  • 6.6 Manufacturing and Service Process

6.6.1 Raw Materials and Key Suppliers

6.6.1.1 Printing Services

Most of our raw materials will be obtained from a single supplier in Davao City, from Starmark Enterprises.

Total amount must be fully paid in their BDO account before the delivery of orders.

Table. 2 Prices of Products bought from Supplier

 

Price

Quantity

White Shirts

75.00

1

Colored Shirts

85.00

1

Tumbler

60.00

1

Mugs

35.00

1

Badges

10.00

1

PVC Board

50.00

1

Rubber

5.00

1

Ink

2,199.56

4x100ml refill ink

Sublimation Paper

1,141.80

100 sheets

Raw materials for printing will be obtained from the same supplier, which includes different materials and textures for t-shirt printing and also other materials like t-shirt, mugs, plates, tumblers and etc, which would costs us a total Php 36,833.08, including the freight. Such order composes of the starter print materials.

All raw materials will be stored at the office. There would be a compartment within the office for storing the inventories.

6.6.1.2 Video-Editing and Multimedia Services

Most

of

the

raw

materials

for

this

service

would

require

knowledge and creativity and

nothing

else,

which

is

why

internet

connection has a vital part for this service.

6.6.2 Finished Goods

All the finished goods will be stored at the office. Some of the products will be displayed in the counter for sample purposes.

Order Distribution Process

Conceptualization

 
• Gaining ideas

Gaining ideas

• Gaining ideas
 

Order

from clients

Printing

Introduce own

 

designs

Total amount must be fully paid in their BDO account before the delivery of orders. Table.

Distribution

  • 6.6.3 Order

Order can be done online or through our main office. Online orders are through the official page in the facebook to be maintained by the business. An order form shall be provided in the official page requiring the following information from the customers: full name, email address, contact number, product code/ color (provided in the official page), size (also provided in the official page), mode of payment, shipping address, and additional message.

Order through the main office is done traditionally.

  • 6.6.4 Distribution

    • 6.6.4.1 Online Orders

For online orders, distribution of the product would be through To Go shipping for customers outside Koronadal City. The lead time for online orders would be 3 5 days after the date of order, depending on the customization and number of orders. Freight cost would be inclusive in the price of the finished product. Payment must be paid full through our BDO account before delivery of the product.

  • 6.6.4.2 Local Orders

For local orders, distribution of the product would take place in the office. The lead time for local orders would be 2 days after the date of order, depending on the customization and number of orders. Payment would be at the time of distribution.

  • 6.6.4.3 Bulk Orders

For bulk orders, the lead time would be 1 week for t-shirts ranging from 10-20, and 2 weeks for t-shirts ranging from 20 and above, after date of order. Lead time may change based on the multiplicity and number of orders above the quoted number.

  • 6.6.5 Quality

The quality of the product will be measured through the number of errors encountered per batch processing. The less error, the higher the quality of

the finished product would be. The raw material used in making the finished products is of high quality which is ensured by the supplier.

The quality of the product will be controlled through proper checking of the quality of the raw materials used. The business would only purchase raw materials from those suppliers who have already grounded its name in supplying the raw materials needed in making the finished products.

Surveys are given to customers after 3 months of operations to evaluate the quality of the products and services provided by the business. Comments and suggestions are encouraged from clients to improve better the business.