Live chat service launched at miketurnerphotos.co.uk
We have now launched our Live Chat service, to offer real-time website assistance. Simply click on the Live chat button located on our contact page and gift voucher pages and our customer service representative will be happy to assist you with your enquiries. If we have nobody free at the time, then you can leave a message and we will get back to you at our earliest opportunity.
The value of an 8″x10″ (20x25cm)
I found this article about the value of photographs, written by kennethlinge.com, you can follow the link and see the original post. I thought it perfectly illustrated the true value of photographs on an emotional level.
” Years ago a photographer friend of mine told me a true sales example of how he perceived the value of a picture. He was at a client’s home doing a sale’s appontment and they reacted to his price of $85 for an 8×10. This was around 1990 and we were still shooting film. Looking over at the client’s book shelf he saw an old, beautiful 8 x 10″ black and white photograph of a couple. He went over to the bookshelf to have a closer look at it and said: I love this picture, it is so beautiful. I would love to buy it from you, what about $200? The wife answered: It’s my grandparents and the only copy we have, so there is no way I will sell it; it means a lot to me. My friend said what about $300? She answered it is worth more than money to me. Then he said: And you think it is to expensive to pay $85 for the one of your own family?
I hope this post can put some thoughts in your mind on the value of what we do and what we should charge; we are creating so many priceless treasures for people. Let’s treat our work as what it truly is, wrap it in silk paper, hold it up carefully by the edges when we show it to our clients and be respectful of the truth worth of beautiful images”.
Gift Vouchers available for Christmas…
This Christmas treat someone you love to a photography gift that will last a lifetime. Gift vouchers available for Portrait experiences… for families, babies and pets. Makeover experiences..for mums, sister, daughters….
Christmas Portrait offer in Warrington and Wigan
Check out our latest 7 day special offer by clicking the poster above. We will be, from time to time providing special offers for a limited time only on some of our services, which are available to purchase online, so keep checking out our blog for the latest offer.
How important is cash flow?
Cash flow is the blood supply for your business, without it the whole body (business) stops working. If you don’t have money to pay suppliers or utilities you don’t have a business that can continue to trade, regardless or not if your business is trading at a profit. Yes that’s right you can run out of cash even if your business is making a profit.
How can this be you may ask, well assume you start month one with £1000 in the bank, and all your monthly bills added together amount to £2000 and all fall due during the month, Lets assume you have secured a contract to work all most full time for a large multi-national company photographing products for their website, which amounts to £5000 income per month. But the multi-national company has payment terms of 60 days, which means you won’t get a dime for two months. Now although you have revenue of £5000 a month and your total outgoings are just £2000 per month meaning you are making a profit of £3000 a month, because you are not getting the first months payment for 2 months you have incurred £4000 of costs before you have received any money back. and as you only started with £1000 cash in hand you are £3000 short of paying your bills. Now unless you have access to an overdraft or other funds, you are not able to meet your debt obligations as they fall due, which means you cannot pay your bills and are out of business. The way around this would be to;
• Have additional funds to plug the two month gap before getting your first payment or
• Insist that your customer, in this case the multi-national pays you straight away or use a factoring company as an intermediary
• Arrange to pay your suppliers on 60 days credit terms, so that these bills are only due once you have been paid by your customer.
All of which are easier said than done, but these either done in isolation or together are the only way around your cash flow problem.
Although this simple example has happened at the start of you trading, cash flow problems can hit you at any time. If your company is experiencing rapid growth, cash flow can become a major problem. Suddenly you are paying more for inventory or in wages and bigger contracts / customers are expecting to receive better payment terms from you.
Always keep your eye on your cash cycle. Generally speaking the cash cycle decribes the;
time that elapses between the delivery of inventory and its conversion into sales (1 week)
PLUS time that elapses between the sale of goods and services to customers and receipt of monies due from these accounts receivable (nil – payment terms are cash on delivery)
LESS time that elapses between the receipt of goods and services from suppliers and subsequent payment to these accounts payable (4 weeks)
Cash cycle = 1 week + 0 weeks – 4 weeks = -3 weeks
Your aim as a business owner is to get better terms from suppliers (increase creditor days) and reduce customer payment terms (reduce debtor days)
Makeover Experience vouchers available in Warrington
Treat yourself or a loved one to one of our makeover experiences. As well as individual makeovers, we have Mother and Daughter, Best of Friends, Sisters and Couples experiences available. more information here
Makeover Parties and Makeup lessons now available in Lowton
Wanted: photo products to sell from our studio in Lowton
We are currently on the lookout for quality photo related products to sell from our studio in Lowton, Warrington, not things like albums and books or frames and canvases, but something unique. Ideally the product should be:
1. unique,
2. ideally, hand crafted
If you are a business owner with something unique to sell, we will be interested in speaking to you. Please give us a call on 01942 519702 to speak to Mike.
QR codes for our Photography Experiences.
