Finance and Equipment

We have finalised the funding options, the costings and the studio space, which we have found out includes bills and wifi in the price, we then went on to look into filling our studio for as cheap as possible. Therefore we started our search on the website freecycle.org a website where you search an item and acquire it free of charge. We found all sorts of useful things we could take full advantage of.

We also managed to find a whiteboard, some scrap wood for myself to build our exposing and screen washing unit, a colour laser printer, a kettle and printing cartridges.

we then went onto look on more conventional websites like IKEA for necessities like desks etc...

Something else we looked into was accounting and fees, also insurance, and solicitors. 

MOT: £40
Tax: £120
Car insurance: £385
Business insurance: £30
Professional and product liability insurance: £100
Public liability insurance: £35
Rent including bills and internet: £3,420
Accountant software: £144
Solicitor: £70
Computer repairs: £300
Equipment- computer rental, screens etc: £4,320
Furniture: £110


When all added up this makes our yearly outgoings £9,074, minus the materials and printing costs.
We decided that £100 an hour would be a reasonable price to charge, considering that their is four of us so the work will get done more quickly. We thought that the best way would be to charge the client material and printing costs, as it may vary from customer to customer.

Assuming that we want to earn around £20,000 a year each, this would mean our estimated yearly turnover is £89,074.
This would make our required monthly income £7,423, which would mean we would have to work at least 75hrs per month at £100 an hour plus cost of materials and printing.

We also decided that we would all earn the same wage, owning a 25% stake in the company each.


We emailed Jane to double check our figures, and also to see if our rate of £100 an hour plus material costs is acceptable.