They don’t. (It’s too expensive; just ask them.) They own the vast majority of the company’s assets. (Their assets include, among many others, this site.) They own the “business plan,” as well. That plan is what most other people assume when they hear “business plan.” As a member of the family that owns Getty Images, these guys (along with many others) can make sure that they get as much of their profits as possible in their hands.
Let me repeat my first sentence for emphasis: these guys own the vast majority of the company’s assets.
So what makes it a business plan?
Well, the “business plan” can be anything anyone else may want to write in place of “business plan.” Some of them include “a business plan; a profit plan; a cash plan; a debt plan; and even a financial plan,” as the Business Journal’s Andrew Ross Sorkin told New York magazine.
(If you want to see a copy of our business plan, it’s right here.)
So these guys have everything in place—that is, everything you need to make sure you’ll be profitable. The only problem is they still need to write their own business plans.
If you look at the numbers, the answer is relatively clear: all their plans must include a profit margin of at least 50 percent. Because they have such a large ownership stake, they also are not forced to pay more than 50 percent.
What do they think they can make by writing out their business plan?
If you’re like me, the answer is “nothing.” To quote another piece of advice given to me:
As long as we can trust that they don’t try to sell our company or our image, we should just let them run their new business.”
Not only does the Business Journal not trust Getty Images for business plans (although, in retrospect, this might have been a prudent investment), but it actually thinks that they can only make money with “advertising.”
Advertising on a business plan simply means that all the revenues from that business will be paid to their account. However, these guys can keep the bulk of their profits by simply charging consumers for their services. Here’s an example of Getty Images (and its own ad agencies and business partners) promoting a $2.99 video for $2.99.
That video has been shown on every broadcast station in America. So far it
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