Are you about starting a TV station? If YES, here is a complete sample TV station business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a TV station. We also took it further by analyzing and drafting a sample TV station marketing plan template backed up by actionable guerrilla marketing ideas for TV stations. So let’s proceed to the business planning section.
Why Start a TV Station?
A TV station business is fun, profitable and interesting for someone who has great business acumen, an appreciable level of perseverance and smartness. With the right location, top-notch services and good marketing, you can indeed make good money from this line of business.
Starting a TV station business also needs a significant investment capital, solid planning, and concentration to detail in order to keep the business profitable.
So, if you have decided to start your own TV station, then you should you carry out thorough feasibility studies and market survey. Business plan is yet another very important business document that you should not take for granted when launching your own TV station business.
Below is a sample TV station business plan template that can help you to successfully write your own with little or no difficulty.
A Sample Television Station Business Plan Template
- Business Overview
Television stations operate studios and facilities that 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.
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 experience vibrant growth. Of course the industry is becoming more concentrated, as seen by a few large global firms dominating the market and gaining a huge market share of the available market.
Federal Communications Commission (FCC), once the primary barrier to entry into the Television Broadcasting industry, have steadily declined over the years. The marketplace for broadcast TV has changed drastically since its inception; according to market research, 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. Statistics has it that in the United States of America alone, there are about 2,247 licensed and registered television stations responsible for employing about 123,318 employees and the industry rakes in a whooping sum of $56 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, Walt Disney Company and Viacom Inc.
A recent report published by IBISWorld shows that over the five years to 2017, the Television Broadcasting industry struggled somewhat to attract viewers and generate advertising revenue, though industry revenue has increased. 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.
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.
TV Station Business Plan – Executive Summary
All Sports™ TV Station, Inc. is a U.S based sports television station that will be located in Los Angeles – California. We have been able to secure a standar office facility in a central business district in Inglewood. We are a sports television station that is set to compete in the highly competitive television 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 TV station.
All Sports™ TV Station, Inc. will air live sports events from all across the United States. Our business goal is to become one of the leading sports 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 Los Angeles – California 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 training that will position them to meet the expectation of the company and to compete with leading sports TV stations in the United States and of course throughout the globe.
At All Sports™ 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 completely.
All Sports™ TV Station, Inc. is founded by Thomson Goldberg and his friend and business partner for many years Lesly Henderson. They both graduated from University of California, Beckley with BA in Mass Communications and they have a combined experience that revolves around journalism, sports broadcasting, and business management.
- Our Product and services
All Sports™ TV Station, Inc. was established with the aim of maximizing profits in the TV industry. We want to compete favorably with leading sports 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 All Sports™ TV Station, Inc. does not just air sports events in the United States of America, but also in other parts of the world. Our products and services are listed below;
- Operating broadcasting studios and facilities
- Producing television (sports) programming content
- Transmitting programming to affiliated broadcast stations
- Public relations services for sport clubs
- Creating sports related advertising campaigns
- Other related sports media and advertising advisory and consulting services
Our Vision Statement
Our vision is to establish a world class sports television station whose programs will not only be viewed Los Angeles – California but also throughout the United States of America, and other parts of the world.
- Our Mission Statement
Our mission is to provide professional sports 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 sports television station that can favorably compete with other leading brands in the industry.
- Our Business Structure
All Sports™ TV Station, Inc. is a world class sports television station that intends starting small in Los Angeles – California, but hope to grow big in order to compete favorably with leading sports 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 All Sports™ 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 our stake holders.
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, All Sports™ TV Station, Inc. have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Creative Director
- Advertising cum Digital Marketing Specialist
- Human Resources and Admin Manager
- Sports Presenters
- Sales and Marketing Executive
- Content Creator
- Client Service Executive
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.
- In control of providing direction for the business
- Generates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Accountable for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Serves as project manager for the organization; works directly with employees
- Responsible for designing programs and advertising concepts
- In charge of copy writing and laying out chronological advertisement plans
- Develops strategic plan by studying technological, and financial opportunities; presenting assumptions; recommending objectives
- Preserves quality service by establishing and enforcing organization standards
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies
- Ensures that the organization work in line with international best practices
Advertising cum Digital Marketing Specialist
- Handles media planning and representation
- Responsible for creating advertising campaigns
- Responsible for disseminating advertising campaigns through the television
- Handles 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.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily office
Sales and Marketing Manager
- Accomplishes external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer
- Recognizes development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- In authority for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding sales
- Create new markets cum businesses for the organization
- Empower and motivates the sales team to meet and surpass agreed targets
- Liable 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 All Sports™ TV Station, Inc.
- Serves as internal auditor for the organization
- Presents sports program for the organization
- Responsible for developing catchy sport programs
- Interviews guest in the studio and in the field
- Responsible for creating contents for the organization as it relates to sports program and advertising
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 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
- Steadily stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information are supplied to clients when they make enquiries.
TV Station Business Plan – SWOT Analysis
All Sports™ 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 sports 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 attracting loyal clients and building our viewership to a level where we can 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 preview of the result we got from the SWOT analysis that was conducted on behalf of All Sports™ TV Station, Inc.;
Our core strength lies in the power of our workforce. We have a team of creative, result driven and highly proficient sports journalists and broadcast experts, a team with excellent qualifications and experience in various niche areas in the sports industry. Aside from the synergy that exists in our carefully selected workforce, our services will be measurable, result driven and guided by best practices in the industry.
As a new TV station with bias in sports broadcasting in Los Angeles – California, 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 sports television broadcasting industry; that is perhaps our major weakness.
The opportunities available to sports television stations is massive considering the number of individuals and corporate organizations who would want to advertise in our station. As a standard sports television station, we are ready to take advantage of any opportunity that is available in the industry.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new sports television station in the same location where our target market exists and who may want to adopt same business model like us.
TV Station Business Plan – 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 industry will continue to evolve due to the advancement of computer technology.
- Our Target Market
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 television station; 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.
Below is a list of the people and organizations that we will market our services to;
- Banks, Insurance Companies and other related Financial Institutions
- Blue Chips Companies
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- The Government (Public Sector)
- Schools (High Schools, Colleges and Universities)
- Celebrities, Politicians, Public Figures and Public Speakers
- Sport Organizations
- Political Parties
- Branding and Advertising agencies
- Entrepreneurs and Startups
Our Competitive Advantage
Surviving in the business world as a sport television station requires more than your expertise, but also how to network with key people that matters when it comes to landing advertising contracts.
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 in various niche areas in the sports television industry. Aside from the synergy that exists in our carefully selected workforce, 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 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.
TV Station Business Plan – SALES AND MARKETING STRATEGY
We are mindful of the fact that there is stiff competition in the television 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 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 All Sports™ TV Station, Inc.
Our corporate goal is to grow All Sports™ TV Station, Inc. to become one of the leading sports television stations in the United States of America which is why we have mapped out a 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.
All Sports™ TV Station, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our sports television station by sending introductory letters alongside our brochure to sports organizations, corporate organizations, government agencies, non – profits, and key stake holders in and around Los Angeles – California
- Promptness in bidding for advertising contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, and radio stations
- List our business on yellow pages ads (local directories)
- Create different packages for different category of clients in order to work with their budgets and still run their adverts or programs 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
All Sports™ TV Station, Inc. is established with the aim of maximizing profits in the television 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.
All Sports™ TV Station, Inc. will generate income by offering the following services;
- Producing television (sports) programming content
- Transmitting programming to affiliated broadcast stations
- Public relations services for sport clubs
- Creating sports related advertising campaigns
- Disseminating advertising campaigns through our TV station
- Other related sports media and advertising advisory and consulting services
One thing is certain, there would always be sports organizations, corporate organizations, government agencies, non – profits and individuals who would need to advertise in television stations to help them increase sales or promote their brands and corporate image.
All Sports™ TV Station, Inc. is well positioned to take on the available market in the sports television stations industry and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow our sports television to enviable heights.
We have been able to critically examine the sports television marketing space, 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 Los Angeles – California.
- First Fiscal Year: $700,000
- Second Fiscal Year: $2 Million
- Third Fiscal Year: $5 Million
N.B: This projection was 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 the same location. Please note that the above projection might be lower and at the same time it might be higher.
- Our Pricing Strategy
At All Sports™ TV Station, Inc. we will keep the prices of our advertising services below the average market rate 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.
- Payment Options
The payment policy adopted by All Sports™ TV Station, Inc. is all inclusive because we are 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 All Sports™ 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 services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
TV Station Business Plan – Publicity and Advertising Strategy
We have been able to work with our in – house 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 the effective publicity of our sports television station.
Below are the platforms we intend to leverage on to promote and advertise All Sports™ TV Station, Inc.;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our sports television stations
- Install our billboards in strategic locations all around Los Angeles – California
- Engage in roadshows from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- List All Sports™ TV Station, Inc. in local directories/yellow pages
- Advertise All Sports™ 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
TV Station Business Plan – Financial Projections and Costing
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.
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. The detailed cost analysis for starting a standard sports television station might differ in other countries due to the value of their money. However, this is what it would cost us to setup All Sports™ 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 Los Angeles – California 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 (broadcasting devices, cameras, computers, printers, projectors, 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 need 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 eight hundred and fifty thousand (850,000) U.S. dollars to successfully set up a small scale but standard sports television station in the United States of America.
Generating Startup Capital for All Sports™ TV Station, Inc.
All Sports™ TV Station, Inc. is a business that will be owned, financed and managed by Thomson Goldberg and his friend and business partner Lesly Henderson. They are the sole financier of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank
N.B: We have been able to generate about $300,000 (Personal savings $250,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
TV STATION BUSINESS GROWTH: Sustainability and Expansion Strategy
It is an established fact that the future of a business lies in the number 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 then it won’t be too long before the business closes shop.
One of our major goals of starting All Sports™ 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 and related 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.
All Sports™ 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 retraining of our workforce is at the top burner of our business strategy.
We know that if this 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.
- 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 Los Angeles – California: Completed
- Application for business license and permit: Completed
- Purchase of all forms of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup 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 products: In Progress
- Graphic Designing and Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed 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