The Independent Design Co.
Private Limited Company.
We are working towards creating a small and independent studio based in Leeds at Duke Studios that would focus on creating branding, packaging, editorial and web design for independent companies throughout the UK and the world.
Duke Studios costs £425 a month to rent out. £5100 a year.
Roughly to start we would be earning £65 and hour as a start up studio.
There are currently no screen printing facilities at Duke Studios and so we will have to pay £40 a year each for a membership at another location. Or we could send the printing to be done elsewhere as each job requires.
Taxes do not need to be paid in the first year but this will all be recorded. Our spendings and earnings records will be sent out to an accountant. This will cost around £750 per year.
Website
Doman name would cost £30 per year.
Hosting would cost £30 per month.
Altogether £390 per year.
Start up will take approximately 6 months, and so we will need to take out a bank loan for these months for the website, the rent and setting up the studio.
Bank Loan - For setting up the studio with laptops etc.
- What skills and services do you have to offer?
We are a studio that specialises in working with small companies and start ups in Leeds, as we believe keeping things local within the community is important. Each of us within the company have specialised design skills which we can use both individually and together to create the most effective design solution to each brief.
- Who is your target market?
Our target market is small companies and start ups within Leeds and the surrounding area because the community is an important aspect to our design studio.
- Who is your competition and how will you compete?
Our direct competition is other studios within Leeds, especially those within Duke Studios, but we believe that working alongside these studios will be beneficial to us as a start up studio. To compete with these studios we will simply do the best work possible with the best quality and so the businesses that we work with will be happy.
- What are your costs, charges and financial considerations?
The costs of the start up are shown above, but when it comes to charging clients we will have to earn approximately £65 per hour as a studio. This information wouldn't be told to clients, and so at the beginning of every brief we will discuss with the client how much the project will cost and then sign the contract. Any extra costs or changes made to the brief will be discussed and agreed with the client. We will ask for 50% of the cost upfront for materials etc. and then the other 50% plus any extras on completion.
- How will you structure your studio?
Our studio will be in Duke Studios, which is situated in the centre of leeds alongside many other creative businesses. Within the studio we are all responsible for a certain part of the design process or speciality, but where it is necessary we will collaborate and work together for the best possible outcome.
- Who will be responsible for what?
Within the studio we all have our own specialities. I am specialising in the Information and way finding aspect of projects, for example working with events and exhibitions to find the best solution. Abi is in charge of web design, Alex is in charge of branding and identity, Sophie is in charge of promotion (including the promotion of our own studio) and Kirsty is in charge of
As well as these responsibilities, Alex is in charge of keeping the books up to date and talking with the accountant to make sure that everything is kept on track, and
- How will you promote your services? To who? Using what media?
Sophies responsibility within the studio is to do promotion, and so as part of this she will be in charge of promoting us as a business. However, as I am in charge of information and wayfinding, we may choose to hold an exhibition of some of our work within Leeds to show off the kind of things we are capable of, and so here I will be needed to create the atmosphere and information materials for this exhibition.
From here we decided that it would be a good idea to go an visit Duke Studios to see what the working environment was like and also to see all of the facilities they have so that we can factor this into our finances.
I emailed Duke Studios asking if we could have a tour of the studios and they were very accommodating, and so on the 21st of March we were able to take a tour.
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