Graphic design is a profitable market for creative artists who can envision long-term business requisites and stay productive. While initiating the business, you need a strategic plan to expand services in time, equipment investment and determine start-up capital. Goals must be realistic and achievable rather than chasing after shadows! Here’s how to craft a successful graphic design business plan that’ll definitely provide a healthy return.
- Executive summary
First section should comprise of executive summary. Concentrate on promoting your business through lucrative proposal and proactive steps in achieving the targets. Identify how much design packages you need to sell in first year and work on those before anything else. Also mention how you’d proceed such as winning newspaper contract, online logo design or service packages for small business industries.
- Company description
Moving onwards, next section is to define your company. Stick to the facts such as location, legal classification, purpose of existence and brief history. If totally new to the industry, highlight why choose graphic design. Lest you’re a sole proprietor, better provide details over training, experience and software proficiencies. Also discuss the designing niche your company would serve like interior home-decor, real estate graphics and corporate infrastructure so on.
- Product line & services
Third section would highlight products, website development and design services. Explain comprehensively about various design packages, price and additional customer services. Also, relate your products with existing competitors and how they’re unique. For long-term competitiveness, you should be expert at multiple design mediums such as 3D, pamphlets, web design and animation allowing you to serve various customer needs. Maximise your designs to elucidate your marketing services.
- Market evaluation
Devote a small section for market analysis of graphic design industry worldwide. Mention both local and international competitors and you might need doing some research work. In this section, also highlight how your business is different from the rest and initiatives taken to fill the void.
- Action plan
Action plan should define the actual steps you’ll take towards implementation of strategies. Explain how you’ll penetrate the market and built a presence. Discuss about high-level computer equipment with latest programs ensuring higher productivity. Elucidate how installing high-quality photo printers would improve end results. Remember, all the discussion must be in light of customer requisites as you’ve to win and retain them for longer term.
- The business structure & hierarchy
Next is to describe company’s management hierarchy and employee names. Though a choice, its better highlighting their background on website graphic designing like overall experience. Include credentials such as degrees, certifications and other professional academic achievements. All of this helps in building a reputation among customers and rival industries as well.
- Fiscal details
The final section is dedicated towards anticipated profit and loss, cash flow and other financial statements. You can mention fiscal expectations as well however make sure they’re met to avoid legal hindrances during interrogation with lenders and probable investors. For starters, secret shopper campaign is good to obtain project-oriented quotes and feedback, thus overcome your existing rivals. It also helps in construing realistic cost for your services.
These seven components are foundation for a proactive graphic design business plan however it’s subjected to change as per nature of services, demographics and size of organisation.