Alongside the production of the artwork we were asked to produce an extensive business plan. Outlining a summary of the business, extensive research on the areas which the work would be sold as well as the companies that would be selling the work. Concise business aims and financial summary, an elevated pitch! Background information relating to myself, including qualifications and training.

Extensive market research. Including a marketing strategy, competitor analysis, SWOT analysis. Particularly highlighting the unique selling points, operation and logistics, any legal requirements, cost and pricing strategy, a financial forecast, a personal survival budget, a cash flow forecast and finally a backup plan. For me the most relevant aspects of the business plan were, the amount of research required to complete all the areas. I found it extremely interesting looking at the demographic of the three areas. 

In an effort to gain some professional advice on the production of the business plan. I gave a draft copy to my husband’s accountant. This I found very interesting, as he was able to give us information that we would not have found using the usual research methods. Having read the comments made by the accountant I realise that where possible it is always a good idea to ask an expert for advice. Furthermore, I have learnt that there are more avenues for research other than the Internet and book