Business model

 

Who will help you? KEY PARTNERS   The professional business partnerships that I would be looking to establish would be with a company who sells liquid latex called Liquid Latex Direct. They have stated that their liquid latex is imported directly from Malaysia and their supplier is a reliable source. They have also stated that they include no animal products of by-products in their products and so they are vegan-friendly. When purchasing silicone for my business venture, I would have to do a lot of research to ensure that the supplier I'm purchasing my resources from is an ethical source and my values are aligned with theirs. Smooth-On is a company that offers a wide range of different brands that sell skin safe silicone. However, it is difficult to find any information on where they source their products from and what ingredients are included in the products.	How do you do it? KEY ACTIVITIES   I will need to be active on my social media platforms as those platforms are going to be my main source of advertising. I won’t have to go out of my way to create posts that will be used for advertising as I can simply take photos or videos of projects that I’m working on for clients as well as showcasing designs that I have come up with. During the design period of work for customers, I will discuss with them thoroughly and constantly so that I am not able to divert from their vision of the product.	What do you do? KEY RESOURCES   For my business to function properly, I would need the proper technical equipment which I already have, such as a drawing tablet for designing each commission piece. I would also need the correct tools, lots of practice and efficient methods for creating the pieces to ensure that they will last for the customer.
What do you need? VALUE PROPOSITION   Concerning practical special effects and prosthetics that are for sale on online stores, they are all very uniform and you know what to expect when you look on their websites, such as a generic bullet wound, scratches, scars, etc. I want to supply the creative personalities who are invested in the world of film creation, and make-up with completely original and fully custom SFX prosthetics. Making it so that my company won't make the same piece for different customers ensures that there is always an assurance of uniqueness. With commissioned work, the customer will take the lead creatively at the start as they will inform me of either general idea that they want me to make, or they can give a detailed description of the piece they want.	How do you interact? AUDIENCE RELATIONSHIPS   I want all relationships that I have with my customers to be personal, and for the parties involved to have a clear understanding of what the other is wanting. If my customer has given me a detailed explanation of what they want, I will expect them to keep constant contact with me so that they can give me points of improvement for me to make and vice versa.	How do you reach them? DISTRIBUTION CHANNELS   I will use social media as my platform to converse and interact with my audience, and then will use phone calls to talk with paying clients. Social media is a normal part of many peoples’ lives, with an approximation that over half the worlds population own a social media account. Through this way, it would cost me no money at the start of my business to reach out to my target demographic as it isn’t required to pay to post on social medias like Instagram and Facebook – however I could eventually begin to get my posts sponsored after I have had a few clients so I  then have the funds to build my online presence
Who do you help? AUDIENCE SEGMENTS   The groups that my company is aimed towards are mainly indie film studios and makeup artists. Knowing that indie film studios have restricted budgets compared to much more famous and larger Hollywood studios, I want to be able to make high quality SFX products more readily available to those with lower budgets. This also goes for makeup artists on social media platforms. It can be hard for those who are forming their careers on social media to get a proper standing and partnerships with other parties or companies. Ensuring that my products would be spread across social media would both boost my profit and advertising, as well as the person who has purchased my product.	What will it cost? COST STRUCTURE   With having an online business, I would make sure to prioritise good internet connection and to make sure that deliveries that I make are made on time and safely. If there is a fragile product that is destroyed in transit, I will then have to recreate the product which will cause me to lose twice the amount of money concerning resources and my time. I will need sufficient insurance, specifically Public Liability insurance so as to protect my business and myself if	How much will you make? REVENUE STREAM   The values that my customers would be paying for when they purchase any product from me would be my time, the resources I have used to construct their order, the quality of the product, and a friendly and professional relationship between me as a business owner and the customer base. The price would fluctuate with their location in the world, the dimensions of the product that they want me to make for them, if they request any specific materials for me to use, and how long it would take me to make the product. The customer would always pay through a secure online method, such as PayPal.