Michael’s Video Service uses the latest technology to provide video production services. The result is that services are now of an unmatched quality, previously available only to the most expensive video production firms.
Michael’, Video Service is a relatively new company. As such, we need to get market acceptance. To that end, the company is working to determine trends in the industry, the needs of the customer, and how best to address the needs of the customer.
Our services can be used in many markets including TV stations, high schools, families, businesses, and companies. We will initially target high schools with whom we can establish strategic alliances that will enable us to establish long term relationships with them. We expect to capture 15-25 percent of the market within our first year, which would translate into $100,000 –: $130,000 in sales.
We expect to earn $149,000 our first year and then $175,000 and $191,000 our second and third years. Our market strategy is to capitalize on the services offered by our competitors and advertise them.
We will be competing with several other companies. We have a competitive advantage, however, because our equipment is more aligned with the video production industry trends requiring digital technology, as opposed to analog devices.
The company seeks a loan of $300,000. This will be used for equipment purchase and startup expenses. The company’s revenue projections for the first three years are $149,000, $175,000, and $191,000, respectively. Michael’s Video Service plans to become profitable very soon.
No comment yet, add your voice below!