Do you want to start an internet TV and need to write a plan? If YES, here is a sample internet TV station business plan template & FREE feasibility report. It is no longer news that the advent of internet has paved way for unlimited business opportunities that one can easily start and run from a location and have clients all across different locations from different countries. One of the businesses that can easily be started by leveraging on internet technology and of course financial expertise is an internet television business.
It is important to mention that starting up an internet TV station business also needs a significant investment capital, solid planning, and concentration to detail in order to keep your business profitable.
A Sample Internet Television Station Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
Television stations operate studios and facilities that program and deliver audiovisual content to the public via over-the-air transmission. The types of programming offered can be made by broadcasters or by affiliates that exist outside the industry.
It is important to point out that within the context of internet television, a channel might be:
- A broadcast or cable TV station / network (e.g. CBS or CNN) which posts videos or live streams to its website or a video hosting website
- A user or group who live stream or upload videos to a video hosting website such as YouTube or Twitch (e.g. The Young Turks)
- A video on demand website (such as Netflix or YouTube) which is assigned a channel number by cable/satellite TV providers.
Some video on demand services (e.g. Hulu, Viki or DramaFever) have channels on YouTube, but their own apps or websites would probably not be considered channels in and of themselves.
No doubt, the Television Station industry is in the mature phase of its life cycle and luckily for the industry, the advent of digital media has provided an opportunity for the industry to explore and experience vibrant growth. Of course, the industry is becoming more concentrated, as seen by a few large global firms dominating the market and gaining huge market share of the available market.
Federal Communications Commission (FCC) regulations, once the primary barrier to entry into the Television Broadcasting industry, have steadily declined in recent years. The marketplace for broadcast TV has changed drastically since its inception; according to market research, GfK, 17.0 percent of US households rely solely on over-the-air broadcasts for their television needs.
Cable and satellite now dominate the industry, and according to eMarketer’s latest survey on digital consumption, an estimated 50.8 percent of Americans watch at least some of their TV from online services. The FCC, rather than create protectionist measures that limit new types of media from competing against major broadcasting companies, has instead welcomed this competition.
The Television Stations Industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as united states of America, Canada, United Kingdom, Germany, Australia, France and Italy et al.
Statistics has it that in the United States of America alone, there are about 2,250 licensed and registered television (strictly online television stations inclusive) responsible for employing about 133,170 employees and the industry rakes in a whooping sum of $67 billion annually with an annual growth rate projected at 2.7 percent.
It is important to state that the establishments with lion shares of the available market in this industry are Fox, NBC Universal, The Walt Disney Company and Viacom Inc.
A recent report published by IBISWorld shows that over the five years to 2017, the Television Broadcasting industry has struggled somewhat to attract viewers and generate advertising revenue, though industry revenue has increased. Companies have continued to invest in advertisements for certain programs, such as professional and collegiate sports.
Yet, as consumers quickly adopted mobile devices, thereby increasing their ability to subscribe to online streaming platforms, advertisers lowered their spending on broadcast television and increased their efforts on digital and online media. Over the five years to 2022, television broadcasters will respond to a shifting media environment by restructuring their business models to better integrate programming with digital platforms.
Over and above, TV stations cannot be phased out despite the change in visual technology approaches and the emergence of new media (YouTubes et al). It is easier for television stations to leverage on modern technology to reach – out to their target market.
2. Executive Summary
Max Scope™ Internet TV Station, Inc. is a U.S based and world class strictly internet television station that will operate from in New Haven – Connecticut. We have been able to secure a standard and well – positioned office facility in a central business district in New Haven.
We are a strictly internet television station that is set to compete in the highly competitive television stations industry not only in the United States market, but also in the global market because our clientele base will not be restricted to just businesses and organizations in the United States but in the international market who would want to advertise on our internet TV station.
Max Scope™ Internet TV Station, Inc. will air live news and sports events from all across the United States and other live news and sport events. Our business goal is to become one of the leading internet – based TV station in the United States of America with high profile corporate and individual clients scattered all around the globe.
Our workers are going to be selected from a pool of talented and highly creative broadcasters and media experts in and around New Haven – Connecticut and also from any part of the world as the business grows.
We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading internet TV stations in the United States and of course throughout the globe.
At Max Scope™ Internet TV Station, Inc., our client’s and viewers best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s business needs precisely and completely.
We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Max Scope™ Internet TV Station, Inc. is founded by Jude Williams and his friend and business partner for many years Victor Carson. They both graduated from University of Connecticut, Beckley with BA in Mass Communications and they have a combine experience that revolves around journalism, new media, broadcasting, and business management et al.
3. Our Product and Services
Max Scope™ Internet TV Station, Inc. was established with the aim of maximizing profits in the TV station industry. We want to compete favorably with leading strictly internet television stations in the United States and of course throughout the globe which is why we have but in place a competent team that will ensure that we meet and even surpass our customers’ expectations.
We will work hard to ensure that Max Scope™ Internet TV Station, Inc. do not just air news and sports events in the United States of America, but also from other parts of the world. Our products and services are listed below;
- Operating internet broadcasting studios and facilities
- Producing television (sports) programming content for online audience
- Transmitting programming to affiliated broadcast stations
- Advertising services
- Creative services
- Public relations services for sport clubs
- Media planning, buying & representation
- Creating news and sports related advertising campaigns
- Disseminating advertising campaigns through our TV station
- Other related media and advertising advisory and consulting services
4. Our Mission and Vision Statement
- Our vision is to establish a standard and world class strictly internet television station whose programs will not only be viewed by audience in New Haven – Connecticut but also throughout the United States of America, and other parts of the world.
- Our mission is to provide professional internet television broadcasting services that will provide platforms for businesses, individuals and non-profit organizations in promoting their brands and reaching out to a wide range of potential customers all over the globe.
- We want to build a strictly internet television station that can favorably compete with other leading brands in the industry.
Our Business Structure
Max Scope™ Internet TV Station, Inc. is a world class strictly internet television station that intend starting small in New Haven – Connecticut, but hope to grow big in order to compete favorably with leading strictly internet television stations in the United States and of course throughout the globe.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. Which is why we are committed to only hiring the best hands within our area of operations.
At Max Scope™ Internet TV Station, Inc. we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, Max Scope™ Internet TV Station, Inc. have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Creative and Technical Director
- Advertising cum Digital Marketing Specialist
- Human Resources and Admin Manager
- News Casters and Sport Presenters
- Sales and Marketing Executive
- Content Creator
- Client Service Executive
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Creative and Technical Director:
- Serve as project manager of the organization; works directly with employees
- Responsible for designing programs, advertising concepts and winning business proposals for the organization
- Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Maintain a reliable system for providing technical support for all programs and events
- Monitor audio and mixing as well as audio recordings throughout productions
- Oversee proper lighting as predetermined in team production meetings
- Ensure all productions are distraction free and technically well-supported by various support roles
- Produce technical drawings and communicate with scene supervisors to determine the effectiveness of planned processes
- Recruit and train exceptional employees to fulfill required positions within the technical field
- Update and maintain all production technologies ensuring proper maintenance and installation
- Keep detailed and reliable records regarding warranties and licensing agreements.
Advertising cum Digital Marketing Specialist
- Responsible for handling media planning, buying & representation
- Responsible for creating advertising campaigns
- Responsible for disseminating advertising campaigns through available mediums, such as TV, Radio and periodicals et al
- Handle other related media and advertising advisory and consulting services
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversee the smooth running of the daily office.
Sales and Marketing Manager
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding increase sales
- Create new markets cum businesses for the organization
- Empower and motivates the sales team to meet and surpass agreed targets
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Max Scope™ Internet TV Station, Inc.
- Serves as internal auditor for the organization.
News Casters and Sports Presenters
- Present news and other current affairs
- Present sports program for the organization
- Responsible for developing catchy sport programs
- Interview guest in the studio and in the field
- Responsible for creating contents for the organization as it relates to sports program and advertising
- Responsible for creating content / buzz words that will help attract viewers
- Liaising and working effectively with other staff members to generate sales for our clients
- Operate motion picture or television camera as you record scenes for motion pictures, advertising or television broadcasts.
- Know and apply the technical aspects of lenses, film, filters, light and camera settings to each shot to ensure the director gets the effect he or she wants.
- Adjust printers, camera controls, and any related equipment to find the right lighting, exposure and focus.
- Work with other film professionals, including electricians, lighting technicians and directors to determine desired effects, lighting requirements, camera movements and filming sequences.
- Arrange studio sets to best suit the settings on the camera, and control the lighting equipment, film stock, audio and cameras to get the result the director desires from the film.
- Maintain, clean and test all broadcasting equipment and cameras to ensure every tool is in good working order each day before filming starts.
- Watch filming sets closely to determine if problems are present in regards to camera angles and lighting and notify the director about issues before filming starts.
- Remain updated on new technology and current industry trends to ensure you bring the latest methods to the job.
Client Service Executive
- Welcomes clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
- Ensures that contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the creative director in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries.
6. SWOT Analysis
Max Scope™ Internet TV Station, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured strictly internet television station that can favorably compete in the highly competitive TV broadcasting industry in the United States and the world at large.
We know that if we get things right before starting our sports TV station, we will not have to struggle before attract loyal clients and building our clientele base cum viewer base to a level where we can easily breakeven in record time. We hired the services of Dr. Edwards Christopher, a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.
Here is a of the result we got from the SWOT analysis that was conducted on behalf of Max Scope™ Internet TV Station, Inc.;
Our core strength lies in the power of our team; our workforce. We have a team of creative, result driven and highly proficient journalists and broadcasting experts, a team with excellent qualifications and experience various niche areas in the strictly internet television station industry and other related industry.
Aside from the synergy that exist in our carefully selected workforce, we have some of the latest internet broadcasting equipment and our services will be measurable, result driven and guided by international best practices in the industry.
As a new internet TV station with bias in news and sports broadcasting in New Haven – Connecticut, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive internet television broadcasting industry; that is perhaps our major weakness.
Although competition for advertising dollars is expected to remain fierce over the five years to 2024 and shifts in consumer viewing habits will continuously prompt adjustments by broadcasters, the industry is expected to continue growing during the outlook period.
Digital distribution will likely remain an important component of the industry’s strategy as consumers’ relationship to TV content continues to evolve. As a standard and world class strictly internet television stations we are ready to take advantage of any opportunity that is available in the industry.
The major threat that we are going to face as a business that operates strictly on the internet is the growing threat from hackers and perhaps a down – time from the world wide web.
7. MARKET ANALYSIS
- Market Trends
If you are conversant with the television stations industry, you will agree that in the bid to reach out to a larger viewer base, television stations are now leveraging on internet broadcasting and mobile apps. This goes to show that the television stations broadcasting stations will continue to evolve due to the advancement of computer technology and software applications designs et al.
The Television Broadcast industry recently underwent structural changes and dealt with a sharp drop off in advertising revenue. Industry revenue declined at an average annual rate of 2.1 percent over the past five years to $36.1 billion in 2011. Advertising revenue was depressed when disposable income levels decreased and consumers gradually shifted to cable TV, online channels and other media.
According to IBISWorld, total advertising spending decreased at an annualized rate of 0.2 percent over the period, including a drastic 11.3 percent decline in spending in 2009 alone. As consumer sentiment improves and the industry continues to negotiate retransmission fees from cable companies, revenue is expected to grow 2.5 percent in 2011.
Lastly, investments in new technology, including the costs of transition to digital transmission, squeezed profit margins over the past five years. In 2009, specifically, the industry was hard pressed to maintain profit margins with the costly switch to digital and a revenue drop of 9.9 percent.
As a result, the Television Broadcasting industry earned a profit of just 9.1 percent of revenue in 2009, a drastic fall from a peak profit of 16.4 percent two years prior. With advertising revenue rebounding slightly and negotiations with cable companies contributing to income, the industry is projected to earn a 13.2 percent profit in 2011, totaling $4.8 billion.
8. Our Target Market
Prior to starting our strictly internet television station, we are certain that there is a wide range of viewers, corporate and individual clients who cannot successfully run their businesses without the services and support of a standard strictly internet television stations; a company that can help them reach out to their target market and effectively promote their corporate brand and image.
In view of that, we have created strategies that will enable us reach out to various corporate organizations, non – profits, government agencies and individual who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that we meet and surpass the expectations of our clients.
Aside from viewers from all across the world, below is a list of the people and organizations that we have specifically market our PR and advertising services to;
- Banks, Insurance Companies and other related Financial Institutions
- Blue Chips Companies
- Corporate Organizations
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- Research and Development Companies
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Celebrities, Politicians, Public Figures and Public Speakers
- Sport Organizations
- Religious Organizations
- Political Parties
- Branding and Advertising agencies
- Entrepreneurs and Start – Ups
Surviving in the business world as a sport television station requires more than, your expertise, knowing how to conduct your business but also how to network with key people that matters; decision makers that can decide who will get an advertising contract or a business deal.
We are quite aware that to be highly competitive in the television broadcasting industry means that you are not only expected to be able to deliver consistent and excellent programs cum services, but you must be result driven and able to meet the expectations of your target audience.
No one would want to continue to place adverts in your station if don’t always meet up with the target sales the organization intends to generate when they place adverts in your television station. Our competitive advantage lies in the power of our team; our workforce.
We have a team of creative, result driven and highly proficient television experts, a team with excellent qualifications and experience various niche areas in the strictly internet television stations industry and other related industry.
Aside from the synergy that exist in our carefully selected workforce, we have some of the latest internet broadcasting equipment and our services will be measurable, result driven and guided by best practices in the industry.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups strictly internet television stations in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
We are mindful of the fact that there is stiffer competition in the television stations industry, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the advertising agencies industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Max Scope™ Internet TV Station, Inc.
Our corporate goal is to grow Max Scope™ Internet TV Station, Inc. to become one of the leading strictly internet television stations in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States of America but also in other parts of the world.
Max Scope™ Internet TV Station, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our strictly internet television station by sending introductory letters alongside our brochure to sports organizations, corporate organizations, government agencies, non – profits, religious organizations and key stake holders in and around New Haven – Connecticut.
- Promptness in bidding for advertising contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still run their adverts or program in our station
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
Sources of Income
Max Scope™ Internet TV Station, Inc. is established with the aim of maximizing profits in the television stations industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients. Max Scope™ Internet TV Station, Inc. will generate income by offering the following services;
- Producing online television (sports) programming content for clients
- Transmitting programming to affiliated broadcast stations
- Advertising services
- Creative services
- Public relations services for sport clubs
- Media planning, buying & representation
- Creating online sports related advertising campaigns
- Disseminating advertising campaigns through our online TV station
- Other related online sports media and advertising advisory and consulting services
10. Sales Forecast
One thing is certain, there would always be sports organizations, corporate organizations, government agencies, non – profits and individuals who would need to advertise in internet television stations to help them increase sales or promote their brands and corporate image.
Max Scope™ Internet TV Station, Inc. is well positioned to take on the available market in the strictly internet television stations industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our strictly internet television stations to enviable heights.
We have been able to critically examine the strictly internet television station marketing space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in New Haven – Connecticut.
Below are the sales projections for Max Scope™ Internet TV Station, Inc., it is based on the location of our business and of course the wide range of sports programs we offer and our target market (viewers);
- First Fiscal Year (FY1): $300,000
- Second Fiscal Year (FY2): $1 Million
- Third Fiscal Year (FY3): $2 Million
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
11. Publicity and Advertising Strategy
We have been able to work with our in – house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.
We are set to become the number one choice for both corporate clients and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our strictly internet television station.
Below are the platforms we intend to leverage on to promote and advertise Max Scope™ Internet TV Station, Inc.;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our strictly internet television stations
- Install our Bill Boards on strategic locations all around New Haven – Connecticut
- Engage in roadshow from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- List Max Scope™ Internet TV Station, Inc. in local directories / yellow pages
- Advertise Max Scope™ Internet TV Station, Inc. in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.
12. Our Pricing Strategy
At Max Scope™ Internet TV Station, Inc. we will keep the prices of our advertising services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services.
In addition, we will also offer special discounted rates to all our customers at regular intervals. We are aware that there are some one – off live PR and advertising contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
- Payment Options
The payment policy adopted by Max Scope™ Internet TV Station, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Max Scope™ Internet TV Station, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for our PR and advertising services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for services rendered.
13. Startup Expenditure (Budget)
It is a known fact that, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting a standard strictly internet television station; it might differ in other countries due to the value of their money. However, this is what it would cost us to setup Max Scope™ Internet TV Station, Inc. in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Leasing / renting an office space in a good location in New Haven – Connecticut that will accommodate the number of employees and our studios (Re – Construction of the facility inclusive) will cost – $250,000.
- The cost for furnishing and equipping the office (internet broadcasting devices, cameras, computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
- The amount required to purchase the needed software applications – $ 3,500
- Launching an official Website will cost – $500
- The amount needed to pay bills and staff members for at least 2 to 3 months – $180,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $10,000
- Miscellaneous – $20,000
Going by the report from the market research and feasibility studies conducted, we will need about five hundred and fifty thousand (550,000) U.S. dollars to successfully set – up a small scale but standard strictly internet television station in the United States of America.
Generating Funds / Startup Capital for Max Scope™ Internet TV Station, Inc.
Max Scope™ Internet TV Station, Inc. is a business that will be owned, financed and managed by Jude Williams and his friend and business partner for many years Victor Carson. They are the sole financier of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
It is an established fact that, the future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Max Scope™ Internet TV Station, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our advertising services and other related PR services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Max Scope™ Internet TV Station, Inc. will make sure that the right foundation, structures and standard operating processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard office and studio facility in a good location in New Haven – Connecticut: Completed
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Secure trademark for our company: In Progress
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed internet broadcasting and studio equipment, cameras, furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress