Creating a graphic design firm business plan? This document needs to accomplish a few interrelated things. First, it needs to describe the graphic design elements your firm can deliver for clients (and yes, samples are helpful!). Secondly, it should offer the reader an honest sense of the market opportunity, which means giving a competitive overview, looking at recent stats for the industry, and trying to assess how many target clients there are for your business going forward. Third, this information should get rolled up into a financial model that provides a snapshot of your projected performance and the bottom line for this firm within 3-5 years. You get to this magical place by working to answer the following questions:
• What are the core elements of your service suite?
• Who are the major firms you're going up against?
• What's your team look like and what is your executive background?
• What ideas do you have for marketing the design firm to new accounts?
• How much capital do you need and when can you hit break-even?
If this seems like a lot, it is. You definitely want to start with the basics (your work product) and grow it from there. The market analysis should show an overview of the field and then delve into the competitors (direct and indirect) along with an analysis of how many potential customers there are for you and the price points they'd be willing to pay. What can you do to ensure repeat business? How can you promote the firm without breaking the marketing budget? Make sure your math works out. Need help here? You're not alone. MasterPlans can create this whole business plan on your behalf in as little as two weeks. Call now for a free quote: 877-453-2011.
