Documente Academic
Documente Profesional
Documente Cultură
26 October 2008
Project Name: New Business Venture Case Study
1.0 Introduction/Background
You and several of your friends have been working for corporations for over
five years, but several of you have a desire to start your own business. You
have decided that you are ready to pursue your idea of starting a music
academy for children ages 3-16. You all enjoy creating music, and you saw the
advantages that some children had from participating in special music
programs beyond those available in schools. In particular you see the need for
music training in your area for children interested in voice, guitar, keyboard
and percussion so they can perform in their own bands.
2.0 Business Objective
The business objective is to become the prominent Musical academy in the
area. To establish the brand name, to get the Academy’s name and main
operations known to all local schools in the area in regards to the focus areas of
voice, guitar, keyboard and percussion.
The majority of business will be outsourced by schools in the area so good
relations with schools are a top business objective.
3.0 Current Situation and Problem/Opportunity Statement
Start up money is required; a cost plan may need to be drawn up to show the
bank. A cost plan. Will indicate where the money is to be spent. This will help
for financial planning purposes later, rental property needs to be found that
suits the function of the business, and if alterations to the property are
necessary, that also needs to be allowed for in the financial plan and in timing
of execution, renovations tend to take a few months.
4.0 Critical Assumptions and Constraints
The competition is likely to put strain on our business once we open for
trading, they are likely to offer discounts and specials, to their current
customers, and implement a marketing plan of their own. We need to prepare
for the worst and expect, they won’t go down without a fight. It is likely, they
have some of the same business plans as us and we need to have a niche.
5.0 Analysis of Options and Recommendation
1)
6.0 Preliminary Project Requirements
Determine the scope, time and cost constraints for the project
Identify the project sponsor
Select Project manager
Prepare a Stakeholder Analysis.
Review the process and expectations for managing the project
Determine if the Project should be divided into two or more smaller
projects.
7.0 Budget Estimate and Financial Analysis
$372,500 can be broken down into 3 distinct costs for the business.
Pre Planning
Including:
Determine the scope, time and cost constraints for the project
Identify the project sponsor
Select Project manager
Prepare a Stakeholder Analysis.
Review the process and expectations for managing the project
Determine if the Project should be divided into two or more smaller
projects.
3 months of work in preparation for these documents, by the project manager.
Estimate : 20hrsx$100 per hr 3months =$25500
Property
Acquire rental property decide on type and size 400m2 is charged at a rate of
$400 m2 for retail or $110m2 for industrial in this area, renovate to business’s
needs.
Deposit: $15,000.00
Industrial $44,000,000.00per/m
Retail $160,000,000.00per/m
$150,000.00
Curriculum
Write or Buy a Curriculum. You can Purchase Curriculums from other
Academys that are very well respected, for around
$15,000.00
or
you could write one yourself which would take up about 150 hrs of one of your
staffs time.
Marketing
Est Cost $25,000.00