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35-44 minutes
If you have a penchant for advertising, then you may want to start a
business that revolves around it. In many countries of the world like
America, you are required to be a member of a body, as well as get
some certifications in some advertising fields. These hurdles stated,
helps you to operate at a much deeper level that stands you out in
business.
After that is said and done, you will also be required to write a
business plan. Does writing a business plan guarantee great
results? One of the things that writing a business plan does is that it
helps you to chart a very great course for your business. There are
business plan writing experts who will help you do justice to your
blueprint for a fee. If you however think of writing it all by yourself,
you may then need to take a look at the plan below, so that you can
be guided on how to write yours:
Business Overview
Statistics has it that in the United States of America alone, there are
about 65,454 licensed and registered advertising agencies
responsible for employing about 251,296 employees and the
industry rakes in a whooping sum of $43billion annually with an
annual growth rate projected at 3.5 percent. It is important to state
that the establishments with lion shares of the available market in
this industry are The Omnicom Group Inc., WPP and IPG.
Lemon & Lilac™ Advertising Agency, Inc. is a U.S based and world
class advertising agency that will be located in Los Angeles –
California. We have been able to secure a standard and well –
positioned office facility in a central business district in Inglewood.
We will make sure that we take all the members of our workforce
through the required trainings that will position them to meet the
expectation of the company and to compete with leading
advertising agencies such as The Omnicom Group Inc., WPP and
IPG in the United States and of course throughout the globe.
Lemon & Lilac™ Advertising Agency, Inc. was established with the
aim of maximizing profits in the Advertising Agencies industry. We
want to compete favorably with leading advertising agencies such
as The Omnicom Group Inc., WPP and IPG in the United States
and of course throughout the globe which is why we have but in
place a competent team that will ensure that we meet and even
surpass our customers’ expectations.
Advertising services
Creative services
Creative Director
Accountant
Creative Director:
Accountant / Cashier:
Responsible for creating content / buzz words that will help attract
traffics
Ensures that all contacts with clients (e-mail, walk-In center, SMS
or phone) provides the client with a personalized customer service
experience of the highest level
Strength:
Our core strength lies in the power of our team; our workforce. We
have a team of creative, result driven and highly proficient
advertising cum digital marketing expert, a team with excellent
qualifications and experience various niche areas in the advertising
agencies industry and other related industry.
Weakness:
Threat:
Just like any other business, one of the major threats that we are
likely going to face is economic downturn. It is a fact that economic
downturn affects purchasing / spending power. Another threat that
may likely confront us is the arrival of advertising agency, a digital
marketing agency or even a social media marketing company in
same location where our target market exist and who may want to
adopt same business model like us.
Market Trends
The truth is that with the advent of the internet, it is now easier for
an advertising agency to work for clients in any part of the world.
For instance, an advertising agency can be located in the United
States of America and have their biggest client in United Arab
Emirates or in China. Many thanks to the power of the internet
which has brought the world closer to us.
Corporate Organizations
Hotels
Sport Organizations
Religious Organizations
Political Parties
Television Stations
Printing Press (Publishing Houses) and Authors
Aspiring celebrities
Lastly, all our employees will be well taken care of, and their welfare
package will be among the best within our category (startups
advertising agencies in the United States) in the industry. It will
enable them to be more than willing to build the business with us
and help deliver our set goals and achieve all our business aims
and objectives.
Our sales and marketing team will be recruited based on their vast
experience in the advertising agencies industry and they will be
trained on a regular basis so as to be well equipped to meet their
targets and the overall business goal of Lemon & Lilac™
Advertising Agency, Inc.
Lemon & Lilac™ Advertising Agency, Inc. is set to make use of the
following marketing and sales strategies to attract clients;
Sources of Income
Advertising services
Creative services
Sales Forecast
At Lemon & Lilac™ Advertising Agency, Inc. we will keep the prices
of our services below the average market rate for all of our
customers by keeping our overhead low and by collecting payment
in advance from corporate organizations who would hire our
services. In addition, we will also offer special discounted rates to
all our customers at regular intervals.
We are aware that there are some one – off jobs or government
contracts which are always lucrative, we will ensure that we abide
by the pricing model that is expected from contractors or
organizations that bid for such contracts.
Payment Options
We have been able to work with our in house brand and publicity
consultants to help us map out publicity and advertising strategies
that will help us walk our way into the heart of our target market.
We are set to become the number one choice for both corporate
clients and individual clients in the whole of the United States and
beyond which is why we have made provisions for effective
publicity and advertisement of our advertising agency.
Install our Bill Boards on strategic locations all around Los Angeles
– California
Ensure that all our staff members wear our branded shirts and all
our vehicles are well branded with our company logo et al.
This means that the start-up can either be low or high depending on
your goals, vision and aspirations for your business.
The materials and equipment that will be used are nearly the same
cost everywhere, and any difference in prices would be minimal and
can be overlooked. As for the detailed cost analysis for starting a
standard advertising agency; it might differ in other countries due to
the value of their money. However, this is what it would cost us to
setup Lemon & Lilac™ Advertising Agency, Inc. in the United of
America;
The budget for Liability insurance, permits and license will cost –
$3,500
The amount need to pay bills and staff members for at least 2 to 3
months – $70,000
Miscellaneous – $5000
Going by the report from the market research and feasibility studies
conducted, we will need about two hundred and fifty thousand
(250,000) U.S. dollars to successfully set – up a medium scale but
standard advertising agency in the United States of America.
Generate a larger chunk of the startup capital from the bank (loan
facility).
Lemon & Lilac™ Advertising Agency, Inc. will make sure that the
right foundation, structures and standard operating processes are
put in place to ensure that our staff welfare are well taken of. Our
company’s corporate culture is designed to drive our business to
greater heights and training and re – training of our workforce is at
the top burner of our business strategy.