Craft Edge

I would like to attempt to make a vinyl cut out similar to the one i have attached here. My problem is I know how to put things in the shape of a circle - this layout is going to be big and I don't know how to make it cut out the words sperately while still keeping the shape?? It is kind of hard to explain - but I want an 8 x 10 photo in the middle of this...how would i go about cutting something like this out??

For myself what I would do is do a smaller version of that writing placing it on your circle.. then dividing that circle with the writing equally in 4 parts.. Then placing each portion on another page enlarging it to the size I wanted and doing the other portions on separate pages of the same size..