Tuesday, 21 February 2012
Average Sales
Because we have so many links, in various ways, with so many studios it is possible for us to monitor averages and trends.Familly sittings that have been bought by that family are the best sittings to have, baby sittings next, Family sittings bought as a gift, then Makover and lastly Boudoir. Of course there will be variations from studio to studio, but this is the average.
Far from average sales reducing this year we have found them to be increasing by an average of 18.5%!
Secondary marketing to past data, or customers, is proving particularly succesful.
All of this knowledge is shared with our students on our courses. We have just completed another Friday, Saturday and Sunday training in Ware and received this comment from Sam Herron from Northern Ireland:
"Just wanted to say Thank you! Really enjoyed the weekend, learned a surprising amount. The business element being a case in point. There's got to have been 5 years worth condensed in the two days. Just wanted to impart my sincere gratitude. Thank you again."
Thanks Sam glad you enjoyed it.
One interesting fellow student of Sams is a professional ballet dancer but owing to injury is having to change career. We really do meet some interesting people.
Sunday, 19 February 2012
Planning
The most important aspect of a photographic business is not photography!!It is planning. Actually this is true of every business. By failing to plan you are, in reality, planning to fail.So each business needs to forecast how many portraits, and how many weddings, they are going to do in a year. It is necessary to know what your average sale is going to be, and a realistic list of all your outgoings. This needs to be done for every month of the year and then carefully monitored within a few days of the end of each month. Monitoring is crucial to any plan you make. For example, keeping a food diary, or weighing yourself each day, will help you lose weight. Keeping track of your purchases will help you spend less.
The more carefully you track the better. Weighing yourself every week is good, every day is better, and writing down a record better still. Besides offering immediate encouragement, monitoring let's you improve your long term planning. If you keep records you can frequently check how far you have come, so that you can set realistic goals for the future. When your business has done well you will feel excited and motivated. When not so well you will be able to take action quickly to change things round.The computer games companies have made millions out of designing games with incentives to go to the next level so that they become a compulsive activity.
Planning and keeping financial records can have the same effect with a business. On a computer game the player does not think that they have failed, they just think it is a matter of time until they succeed. So we teach that in order to have a successful business you must plan and monitor .....
No matter how good you are at photography or sales!
The more carefully you track the better. Weighing yourself every week is good, every day is better, and writing down a record better still. Besides offering immediate encouragement, monitoring let's you improve your long term planning. If you keep records you can frequently check how far you have come, so that you can set realistic goals for the future. When your business has done well you will feel excited and motivated. When not so well you will be able to take action quickly to change things round.The computer games companies have made millions out of designing games with incentives to go to the next level so that they become a compulsive activity.
Planning and keeping financial records can have the same effect with a business. On a computer game the player does not think that they have failed, they just think it is a matter of time until they succeed. So we teach that in order to have a successful business you must plan and monitor .....
No matter how good you are at photography or sales!
Wednesday, 15 February 2012
Online Discount Sites
A recent report by Deloitte predicts that hundreds of online coupon businesses will fail in 2012, while those that survive will have to operate on much slimmer margins. "They may need to accept lower commissions on sales of coupons to entice retailers to use their services as well as shifting their focus to value."
Groupon has been caught up in a string of conflicts with small businesses who have used Groupon but ended up in overstretching themselves. (One photographer offered a one hour sitting and a CD of all the images for £15 and received 670 buyers. Not surprisingly the photographer did a runner!)
A couple of days ago Groupon shares fell 10% on declaring a fourth quarter loss of $42 million.
Last year the Office of Fair Trading launched an investigation into Groupon after the business was found to have broken advertising regulations nearly 50 times in a year. (This report was in The Daily Telegraph).
Groupon has been caught up in a string of conflicts with small businesses who have used Groupon but ended up in overstretching themselves. (One photographer offered a one hour sitting and a CD of all the images for £15 and received 670 buyers. Not surprisingly the photographer did a runner!)
A couple of days ago Groupon shares fell 10% on declaring a fourth quarter loss of $42 million.
Last year the Office of Fair Trading launched an investigation into Groupon after the business was found to have broken advertising regulations nearly 50 times in a year. (This report was in The Daily Telegraph).
Tuesday, 14 February 2012
Sales
Last week saw the continuation of very buoyant sales for ex students and franchisees. 50% up on last year!! In January alone there were nearly 700 baby sittings booked. Our Platinum Network officially starts on March 1st. and we have over 50 top studios taking part. Only the very best studios in the UK are invited to join so that we are able to place all the family portrait appointments we receive. It is important that customers do not have too far to travel. For those readers of this blog that are already involved in the industry it is with some sadness that we have to say good bye to Chris Kay who has left Loxley's, the colour lab. we use. Thank you Chris for all that you have done for us in the past and the best of luck in whatever else you go on to do.
Thursday, 9 February 2012
Baby of the Month competition
December Baby of the Month has been chosen. Each image is voted for by our customers and users of the Barrett & Coe Portraits website (www.barrettandcoeportraits.co.uk) We receive an around 2,000 votes each month, with some images receiving over 100 votes each.
A selection of images and winning photo, taken by Paul Jones (who runs a Barrett & Coe studio in Staffordshire) are shown below:
A selection of images and winning photo, taken by Paul Jones (who runs a Barrett & Coe studio in Staffordshire) are shown below:
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| December Baby of the Month - Photographed by ex student Paul Jones |
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| Photographed by ex student Paul Jones |
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| Photographed by ex student Paul Jones |
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| Photographed by ex student Paul jones |
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| Photographed by ex student Mark Hopwood |
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| Photographed by ex student Jonathan Holt |
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| Photographed by ex student Paul Milsom |
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| Photographed by ex student Caroline Brocklehurst |
Wednesday, 8 February 2012
New Franchise Enquiry
Last year I gave a presentation at Photokina in Cologne to a cosmopolitan audience from all over the world including Russia, Brazil, Italy, Chile, France, Belgium, Mexico etc. The presentation was given for Hewlett Packard on photography marketing for their Indigo machine. As a direct result of that the Hewlett Packard director recommended us to his brother in law who is French and has been working in the UK for sometime. Now wishing to change careers he is proposing to open a studio in UK by taking a Barrett and Coe franchise!
Tuesday, 7 February 2012
Emmas Diary
The other main source of baby data is supplied by Emmas Diary for which Barrett and Coe have the exclusive contract. The difference between Bounty and Emmas Diary is quite considerable.
Firstly the data is collected through a booklet given out by GP doctors and produced on behalf of The Royal College of General Practitioners to which 80% of GP doctors belong. Mums fill out a form requesting offers, or fill in a form on the web site, rather than being approached in the hospital just after the baby has been born.
Secondly, the data is only available to one photographer not four!
Thirdly, each photographer may decide their own offer to Mum and in many cases a telephone number is supplied. Contact maybe made over a year as against once in a single month.
Sales last week by Barrett and Coe ex students are flying. 100% up on last year! The average per sitting increased by 28%. With ten more studios just about to open 2012 looks like being a bumper year.
Firstly the data is collected through a booklet given out by GP doctors and produced on behalf of The Royal College of General Practitioners to which 80% of GP doctors belong. Mums fill out a form requesting offers, or fill in a form on the web site, rather than being approached in the hospital just after the baby has been born.
Secondly, the data is only available to one photographer not four!
Thirdly, each photographer may decide their own offer to Mum and in many cases a telephone number is supplied. Contact maybe made over a year as against once in a single month.
Sales last week by Barrett and Coe ex students are flying. 100% up on last year! The average per sitting increased by 28%. With ten more studios just about to open 2012 looks like being a bumper year.
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