Michael’s Video Service uses cutting-edge technology to provide professional video production services. This ensures that the services received are of a quality previously only possible for the most high-end video production companies.
Michael’’s Video Service, a brand new company, will need to be accepted by the market. The company is currently analyzing the market trends and determining the customer’s needs to help determine the best way to meet those needs.
Our services are targeted at many markets such as TV stations, companies, schools, and families. In the beginning, we will target high schools where we can form strategic alliances that will allow us to build long-term relationships. We believe that we can capture between 15 and 25% of the market in our first year. This translates to $100,000 –, $130,000 in sales.
We believe that we can earn $149,000 in our first year, rising to $175,000 and $191,000 in our second and third years, respectively. Our market strategy will be advertising and capitalizing upon the services that are not offered by our competition.
There are several companies with whom we will be competing. We have a competitive advantage due to the fact that our equipment aligns better with video production industry trends and requires digital technology rather than analog.
The company is asking for a loan in the sum of $300,000 to help pay the equipment and other start-up expenses. The company’s revenue projections for the first three years are $149,000, $175,000, and $191,000, respectively. Michael’’s Video Service hopes to be profitable soon.
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