business model canvas

Business Model canvas

Key Partners

·         Web designer

·         Sales and advertising

·         Solicitors to create contracts

·         Accountants

·         Secretary

·         Assistants

·         Editors

·         My business partner

·         Students and ‘young’ talent

·         Universities

·         Equipment suppliers

·         Print businesses

·         Researchers

·         Marketing and research team

·         Photographer

·         Cleaners

·         Stylists

·         Local businesses

·         Stationary supplier

·         HR and PR teams

·         Retailers

·         Distribution services

·         Wedding services ranging from culinary to venues and travel/ holidays (also on request from client)

·         Landlord?

·         Eco-aware business partnerships

·         Consider business deals

·         Background checks

·         Previous customers

·         Responses and recommendations

·         Creativity and innovation? Could this forward our business?

·         Fair trade and sustainable

·         Morals and community values

·         Consider values of current clientele

·         Review the partnership and different business models

Key activities

·         Close communications with businesses and other services

·         Contracts and business agreements created

·         Licensing and legal issues

·         Market research

·         Local research

·         Consumer research

·         Payment model between partners and employees and suppliers etc

·         Strict organisation and schedules

·         Forecasting

·         Creative thinking and meetings regarding forwarding the next issue and the business.

·         Problem solving

·         Hiring assistants/ reviewing their tasks

·         Quality control/ assurance

·         Web design, creating a personal client organiser

·         Advertising and sales around the area

·         Sourcing best prices/ availability/ reliability etc

·         Contact with product suppliers for use of imagery and interviews etc

·         Trained network of consultants etc

·         Planning a production timescale

·         Researching into expansion within our new niche brand!

·         Merchandising

·         Sending opportunities to local universities etc

·         Organising staff meetings

Key resources

Physical

·         Stationary

·         Office supplies and furnishings

·         public spaces for events and exhibitions

·         office

·         Computers

·         Programs

·         Staff conveniences

·         Photography equipment

·         Styling equipment

·         Transportation

·         Eco-friendly and morally responsible business partnerships

Human

·         Assistants

·         Cleaners

·         Researchers

·         Merchandisers

·         Accountants

·         HR/ PR

·         Advertisers

·         Events management teams

·         Local business co-operations and agreements/ relationships

·         Clients and consumers

·         Journalists

·         A wide range of business to suit potential consumers i.e. allergies, moral/ cultural differences, vegan, Indian etc

Intellectual

·         copyright and trademark protection on brand imagery and business name

·         patent any new forums or programs/ services that may be created for use with clients or by clients

·         design rights to trademark imagery and brand imagery

Financial

·         Initial loans?

·         Initial investment

·         Staged payment agreements

·         Income from consumers

·         Payments from retailers

Value propositions

·         Newness

·         A refreshing perspective on the Bristol region and the wedding industry through a new niche

·         Stress free

·         Perfectly personally tailored

·         No hidden costs/ affordability

·         The offer of assistance, guidance and consultation

·         Creating awareness of the local region

·         Bringing awareness and income to local businesses

·         Innovative

·         Creative and artisanal (customisation )

·         Modernity mixed with tradition

·         Friendliness

·         Personal interaction

·         A wide variety of options for choosing from

·         An interesting niche

·         Saving hours of self-researching

·         Eco-awareness within business model

·         A range of ideas and packages pre-made or arranged

·         Community based values

·         Convenience

·         Communications assistance

·         Flexible

·         Moral

·         Passionate

Customer segments

·         Students

·         People with low income

·         People from the region we specialise

·         Consider a wedding FORUM with integrated services

·         People looking for links and contacts

·         People who possibly might need guidance and are looking for extra quality through our links

·         Some people might wish to spend more

·         People who need help setting  a realistic budget

·         People who are too busy to plan

·         People may need help negotiating with services

·         Are they looking for a niche wedding?

Possible niches

·         Bristol

·         Students

·         Young adults i.e. new families

·         Religious?

·         Eco-aware

·         Themed i.e. Glamping, renaissance, countryside etc

·         Seasonal

·         Budget

·         Pick n mix pieces/ services i.e. in the basket “the bridal basket”

·         Princess (gypsy weddings) and fantasy fairytale

·         Create magazine with episodes i.e. next week themed Greek!

·         Colours

·         Age

·         Adventure (remember to consider venue charges i.e. parks and fields etc and hiring times)

·         Hiring i.e. tents

Channels

·         Print

·         Magazine

·         Newspaper articles (consider class of the newspaper regarding our target market)

·         Wedding fairs

·         Business cards in local services

·         Website

·         Blog with trends and interest ideas

·         Advertising posters in university

·         University open days

·         Local community events or advertising

·         Events and competitions

·         One to one meetings

·         Hand written letters post purchase

·         Most of our channels could end up integrating online

·         The most efficient channels would be the ones which gain public interest quickest and on a larger scale, I think for our niche being within the local area that posters and event attendance would be most effective. However the most cost-effective may be via online.

·         We would need to consider customer routines such as times at work, where they go and would see our advertising, their interests etc.

Customer relations

·         Industry

o    Reliability

o    Regular payment (automated)

o    Regular contact

o    Regular updates

o    Detailed plans

·         Customer

o    Support

o    Consultation

o    Personal communication

o    Co-creation

o    Self service options

o    Well organised web space

o    Easy contact

o    Quick responses

o    Links with relevant services/ networking

o    Personality

·         Employee/ partners

o    Promotion

o    Personal communication via group meetings

o    Automatic schedule updates

o    Detailed plans of action

o    Collaboration and co-operation

·         The most costly of these relations would be written communication. Otherwise with the possibility of personal interaction within the customer wedding plans this may cost time and effort and we would need to enlarge our workforce for this service. Also there may be the possibility of paying commission to our partners.

Cost structure

The most important costs inherent within the business model:

·         Eventuality of having a large office floor space –rent and electricity

·         Printing costs

·         Travel costs for researching

·         Advertising

·         Staff

·         Payment for web domain

·         Web designer

·         Accountant

Most expensive resources

·         Website domain

·         Working space/ studio/ electricity

·         Print/ materials and stationary

·         Licensing and legalities

Most expensive key activities

·         Payment model between partners and employees and suppliers etc

·         Manufacture

·         Web design, creating a personal client organiser

·         PR, advertising and sales around the area

·         Merchandising

·         Printing

·         Solicitors and contract creation

·         Travel

Revenue streams

·         Need to research current magazine costs

·         Subscription to the website

·         Free access to blog

·         What can I push this idea to?

o    Further than cherry picking idea

o    Further than wedding planning

o    Further than budget saving

o    More than just a magazine or typical website!

·         Options existing are:

o    Customers pay by subscription i.e. £26.00 for annual magazines

o    Pay up front for magazines roughly £4.00

o    Websites are free and you only pay for services received

·         Conduct research. Would customers prefer to pay up front with no hidden costs? Pay for additional extras? Pay for each service individually? Whole sale idea?

Revenue stream distributes to:

·         PR, advertising and promotions

·         Researching and developing

·         Designing and developing

·         Resources

·         Distribution

·         Manufacture

·         Communications

·         Event placements

·         Legal/ licensing

·         Rent