In this brief, we had to form a group of 4 to create a hypothetical studio and the start up plan. The plan is to have each member of the start up studio recognise their strengths, roles and responsibilities and through that plan and promote our unique selling point. We will also have to think about finance, cost of work and income we would want to earn to maintain the studio.
Forming a trio with Ruari and Kumail, we each worked on different parts of the studio. I worked on the finance and sorted out our necessities for start up, such as cost of equipment, softwares and bills. Alongside with the costs of a studio space as our work environment and cost of our work.
I also stated my skills, role responsibilities as my contribution to the studio group.
Calculating the costs into two separate aspects, I separated the cost of necessities and equipments and created a table illustrating the type of item, quantity, payment; monthly or one time payment and cost.
Cost of Necessities and Equipment [Slide]
The cost of the equipments and softwares are gathered from their respective sites; Cintiq 22 Hd from the Wacom site and the Windows 10 desktop from Microsoft. Adobe cloud from Adobe and TV Paint from TV Paint.
The choice of the equipments and softwares are based off of the models the university provides as those are sufficient for professional work.
Gathering the costs of electric and internet bills from infographics, I also got an average cost of a studio office space in Leeds through browsing through various office sites in Leeds.
With all that calculated, the total cost of the start up year would be a total of £15,054.81 as equipments such as Wacom Cintiqs, Desktops and TV Paint are one time purchases. After the start up year, the annual cost is then decreased to £8004.84.
Cost of Work and Salary [Slide]
The minimum wage in UK is £7.83. Using that as our basis, we decided our hourly rate would be around double of the minimum wage; £15.
Working from 9am - 5pm from Monday to Fridays, that is a 40 hours of work per week. With that, our weekly income per person would be £600.
Making our monthly gain a total of £2400 and our annual income £28,800. As a collective we would earn a total of £86,400.
However that is the income we would have stand alone without factoring in the aforementioned costs of necessities and equipments.
Factoring those into the income, we would earn a total of £71,345.19 for the start up year, and £78,395.16 for the following.
We would each earn a total of £26,131.72 yearly after the start up year.
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