Research for my new business!

Research for my new business!

2 posts
29 Oct 2012
Hello everyone! Im doing a research for my new business and have a few questions to ask you This is mostly for people who work/can work in London Questions are for MUA and Studios only (possibly photographers/ assistains) MUA: 1. How much do you charge per 1 hour of you work? 2. How much would you charge for a day? (lets say 9am-6pm) 3. Do you also do hair? if you do, will it b included in your rate or do you charge separatlly? 4. Do you do body art? Daily rates please Studios: (London ONLY! prefferebly Central London) 1. How much is it to rent out a studio (hourly rate and min how many hours?) 2. Do you give discounts for a whole day rent (9am - 6pm)? 3. Do you rent it out with all the equipment (lights etc) - well, apart from a camera.. Photographers/tog assistaint: (Sorry, only experinced ones) 1. Whats your hourly rate? 2. Daily (9am - 6pm) rate would be? This is not just a research, i might be hiring you for work on regular basis! Looking for a team of people to work with me and be a part of my business crew
Posted 29 Oct 2012

I'm not trying to be difficult but you may be approaching this question from the wrong direction.

The object of any business is to make profit

overheads + cost of sale - turnover = profit

So dependent where you are in London your overheads, cost of sale and turnover will be different.

I would suggest you start off with a cash flow projection, so you can estimate and add information to as you get different information in.

Estimate you overheads rent, rates, heat, light, equipment & depreciation etc

Decide which market your going into e.g. makeovers is all about advertising, selling and high turnover, commercial is about developing a few key clients and providing a long term service. This will come up with 2 very different projections for your cost of sale.

Adding these two together you get your break-even point or how much you need to charge to stay open in your area in your sector of the studio market.
Then its about how you will differentiate yourself from your competition.

Your competition will be other London based studios, who may be less than keen to provide this commercial information with any degree of accuracy.

Posted 30 Oct 2012
Edited by Gfun 30 Oct 2012
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