Business Planning

Business Planning 

Business Planning 
session 27th March 2012
Yellow Korner – A business analysis
www.yellowkorner.com

In this session we looked at a business called YellowKorner it was created in 2006 by two friends, Alexandre de Metz and Paul-Antoine Briat, both lovers of photography from a young age.
The YellowKorner concept is very simple: to introduce the greatest photographers from all over the world and to increase the number of copies of their work to make it accessible to as many collectors as possible. So, instead of offering 10 prints at £5,000, YellowKorner chooses to publish 500 at £100.

Are you clear about what the business does in terms of its products and the way it receives income?

yellow corner has made it possible for none collectors to have a quality print of famous photographs by increasing the amount of copies of the artist work, making it a lot cheaper to own,

What do you think of the split between internet business and caller business?

i think the internet business would be a lot more 

How important is a knowledge of contemporary photographic business in running this operation?

Do you think the operators or founders had any specialist education?

What are your opinions or judgements about the artists that they represent?

Look at where the galleries are based. What does this tell you about the aims of the business?

What do you like or not like about the website or business? 8 Where in the UK would you see the business succeeding?

What are your views on pricing?

Do you think this business could succeed long term? 

Yellow Korner began as a small shop in New York where it slowly grew into a franchise with many stores across several continents on the globe, it's become a unique way for photographers to both exhibit and sell prints to anybody interested in their fields of work. The website itself is my main focus for this section where i have looked into the range of imagery it has to offer, sizes of prints and costs to customers. Not only this but the way in which the company is able to offer such an appealing store that has a sense of style that people often appreciate along with being interest on what the store has to offer. I personally really like how the shops are set out with a trendy mixture of subtle colours and wood flooring along with the simplistic approach of placing the mounted work along the inner walls of each store. The sizes and amount of prints that the website offers is really effective due to low amounts which makes each individual product both unique and more desirable. Below is the image that shows the interface of the website with very easy navigation and search engine for browsing the website along with large examples of the creatives work.

Franchise -

A privately ran, licensed business such as nandos or Mc Donalds. A person will often look into the franchises business model and discover if they're successful and continuing to become larger and increase sales, this is frequently what will entice someone to begin running a store.

Giclee -

Giclee is a term used for a replica of an original piece of work, they're created using an ink jet printer. This term is used on 'Yellow Korner' for their prints when they explain that the image only has 200 'Giclee' prints available.

Pecha Kucha -

Pecha Kucha is a fantastic and innovative idea for making the typical slide shows interesting, fun and keeps the viewers interest very effectively. This new method of slide show presenting gives the creator a fixed 20 slides with an allocated time of 20 seconds per slide. This gives enough time for a quick discussing on each image, graph or chart along with keeping everything going throughly.
     I really enjoyed both learning about and actually trying my own Pecha Kucha which was very effective and did indeed keep the consistent interest between myself and the audience.

Enigma photography is a company which specialises in all genres of photography at a very high standard. we felt limiting the business to a certain type of photography would limit how far the business could grow, we widened are audience to cater for specialised themed children's photography to corporate photography basically a place that can meet all photography requirements , we felt the business would need to apple to a wide audience hence why we kept the logo simple,

Thought the project we decided on a project manager who was brilliant in organising and handing out roles. everyone in are group had a role to play in building the business, working as team come easy to me as i like to think of myself as a team player but others in the group seemed to fall short on the tasks, so we as a group split the responsibly between us and finished the project. working on the project helped me to realise what goes into having your own business and i feel when the times comes to opening my own i feel i have a basic knowledge of were to start and how to begin.

My roles in the business

Logo creating the logo was really good fun, as the logo needed to serve as an instant reminder of the company an interesting professional logo was key in promoting the company, firstly i researched my audience and began to realise the logo has to communicate the brand so using the graphic of the camera i felt would help the audience to realise what the company does in repeats to business. i also decided to use a strong edgy font which looked professional, 

Invoice

firstly i research on the direct Gov website to find out what were the legal requirement an invoice should have, there was plenty of information which helped me to understand what an invoice is need for in a business.   

• unique identification number
• company name, address and contact information
• the company name and address of the customer invoicing
• a clear description of what i am are charging for
• the date the goods or service were provided (supply date)
• the date of the invoice
• the amount(s) being charged
• VAT amount if applicable
• the total amount owed

Letterhead

When designing the company letterhead i firstly began to think about the layout and design, 

However the company letterhead needed to follow several legal requirements. Thankfully the requirements are simple. If you are a sole trader you can trade under your own name or you can choose a different business name. If you choose a business name that is not your own name, you must include your own name and the business address on all letterheads and order forms.

Funding

researching into funding for a new business was very interesting, there is a lot of help out there to get started, banks, privet investment, princes trust, local funding from places like bootstrap, there are also many free classes to learn skills necessary for opening a business