Mailing Address 4. If you are part of the people keeping tabs on happenings in the Fine Arts Schools industry, you will agree that the industry has developed a creative edge over the last half a decade. The first thing you should do is to make some kind of a study, to find out if there is enough demand for music lessons in your location. Responsible for preparing financial reports, budgets, and financial statements for the organization. Don’t try to do everything in the first 5 years unless you have been fortunate enough to find a donor to fund the entire project. In addition, we will also offer special discounted rates to all our individual clients at regular intervals. While expanding our business, we will engage in effective marketing campaigns too. Academy of Music Theatre Business Plan 1. Please note that the above projection might be lower and at the same time it might be higher. We use cookies to ensure that we give you the best experience on our website. A business plan offers you with guidance on the path to follow. Your financial house MUST be made of a strong foundation. Serves as internal auditor for Maestro Melody Music School®, LLC. You will have to figure out which kind works best for you! At present, our music school can contain about 60 students. We will ensure that we hire professional and licensed musical instruments coaches, and instructors to work with our students. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services. These are the questions your business plan will help you answer. Check with the Small Business Administration (SBA) for help on writing one, looking through sample plans, and for advice on what to consider as you start your business. Here are the payment options that Maestro Melody Music School®, LLC will make available to her clients; In view of the above, we have chosen banking platforms that will enable our client make payment for all our services without any stress on their part. One of our major goals of starting Maestro Melody Music School®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Maestro Melody Music School®, LLC; Our core strength lies in the power of our team; our workforce. First Fiscal Year                                           $1,000,000.00, Second Fiscal Year                                      $1,900,000.00, Third Fiscal Year                                         $5,800,000.00. To better assess our performance, we hired a consultancy firm to help conduct a SWOT analysis. Our vision is to build a highly competitive and effective music school that will become the number one choice for both individuals and corporate organizations in Palm Beach – Florida and in other cities in the United States of America and Canada where we intend opening our branches or selling our franchise. Your email address will not be published. To start a private school, start with fundamental decisions like whether the school will be non-profit and what grade levels it will cater to. It is also important to state that commercial and graphic arts and commercial photography instruction, are not included in this industry but they are part of the Trade and Technical Schools industry. leading the development and implementation of the overall organization’s strategy. First things first: your new teaching studio is a business, and you … By using this as a template, you can avoid common mistakes made by many in putting a great plan together. Maestro Melody Music School®, LLC is positioned to offer a wide range of musical instrument related trainings and practice to a wide range of clients ranging from kids to adults and to people who want to actively compete in musical competitions or who want to launch their musical career. Maestro Melody Music School®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. These threats can be external or internal. I wish I … Music School Business Plan in Nigeria. The name of your studio 2. How to Start a Music School Develop a detailed business plan. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients (students and corporate organization). One mistake to avoid is to teach in one linear way, with no variation. We will also ensure that our students become experts when it comes to playing various musical instruments; we want to build a standard and well – equipped music school brand that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations). That’s also about the time I decided the first business I would start after college would be a music school. We are aware that there are some clients that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs. Starting a music school goes beyond having the skills necessary to impart the knowledge of students. As a standard and well equipped music school that is centrally located, we are ready to take advantage of any opportunity that comes our way. Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects. This has helped us create a rich curriculum that meets the best standards available. This business plan seeks to expose the fruits of my compositional labour, both past and future, in a much more intentional and strategic way to the market, so that they can be experienced by more people, and bring in more remuneration and greater opportunities for future projects. Your email address will not be published. Over and above, any entrepreneur who is a certified music instructor can successfully launch his or her music school and make great gains from the industry simply because the industry is still growing and more people are becoming aware of the immense benefits they stand to gain when the enroll in a music school. Products include Beaver Creek Acoustic guitars, drum practice pad, music theory workbooks, method books, and Suzuki violin books. The main strategies detailed in this plan centre around putting the finishing touches (revisions, editing etc.) Maestro Melody Music School®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a dance related training organization, by actively participating in our communities and integrating sustainable business practices wherever possible. Using Rote Teaching Methods. It is what some call the “elevator pitch”, which will briefly introduce your business. Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions. We are quite aware that to be highly competitive in the music school industry means that you should be able to deliver consistent quality trainings, your students / clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times. Martial Arts School Business Plan; More Business Planning Help. IBIS World estimates that the top four players account for less than 2.0 percent of industry revenue in 2016. It has been four years since we first opened our doors for business. The sum of $900,000.00 is required. BoF's Start-Up School executive summary template We know that one of the ways of gaining approval and winning customers over is to equip our music school facility with state of the musical instruments and equipment and make our school environment welcoming and conducive enough for people to effectively learn how to play musical instruments. So let’s proceed to the business planning section. At Tempo Studios, we seek to build a world-class music school where our students get the very best. Thankfully, the economy is buoyant and doesn’t seem to be declining anytime soon. Principal Partner / Chief Executive Officer, Client Service Executive / Front Desk Officer. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. Social media is one of those advertising strategies that could be used in advertising. Settle on a budget. If you part of the people keeping tabs on the trends in the Fine Arts Schools industry, you will agree that the industry has developed a creative edge over the last half a decade. Please note that the salaries of all our staff members for the first month is included in the expenditure. Also, with the remaining money, I will begin to purchase teaching method and piano repertoire books. The outcome has been revealing and will enable us to re-strategize towards increased productivity. In addition, still-high unemployment brought strong demand from a larger number of individuals who were out of work. Include experienced education and business professionals, such as former head teacher and business managers. Generating Funds / Startup Capital for Maestro Melody Music School®, LLC. Basically, players in the Fine Arts industry offer instruction in the arts, including art, dance, drama, music and photography. At Maestro Melody Music School®, LLC we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance. Tempo Studios is a standard and licensed music school located in Chicago, Illinois. Read through each section of this outline. This will be your blueprint of how your school is going to start and operate over the next 5 years. We are well positioned to take on the available market in the Music Schools industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our music school and our clientele base beyond Palm Beach – Florida to other cities in the United States of America. U&Me Dance Executive Summary . As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. A market-feasibility study and business plan is a critical starting point and foundation for the development of your private school. Get the Bplans newsletter: Expert business tips and advice delivered weekly. 1. Having identified our weakness in the area of marketing, we are adopting a multi-pronged approach to improving our business presence. Choose Proper Location. There are many business plan models you can work with ranging from a one page "lean canvas" to 100 pages of complex questions. The Music Schools industry growth was hindered early in recent time as the recession set in and the economy slumped. to ensure accurate and helpful information is supplied to clients when they make enquiries, Working Class Adults / Corporate Executives. Maestro Melody Music School®, LLC might be a new music school in Palm Beach – Florida, but we have a team that are considered experts in the music school industry, a team with excellent qualifications and robust experience in professional musical instruments trainings and practices. Use friends and family to spread word about our music school, Post information about our music school and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al, Placing a small or classified advertisement in the newspaper, or local publication about our music school and the services we offer, Using referral networks such as agencies that will help match students and corporate clients with our music school. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop. It is glaring that revenue growth in the industry began to rebound as the economy started to recover and schools’ endowment funds and corporate profit bounced back. The target market for a music school is broad and of course all encompassing. But if your aim is just to run a music school where you will just train people to acquire the basic skills of playing any musical instrument of their choice, then you need not bother to go through the stress of applying for license; in fact, you can even start the music school in your house. Our goal is to grow Maestro Melody Music School®, LLC to become one of the top 10 music school brands in the United States of America and Canada which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Palm Beach – Florida, but also in other cities in the United States of America and Canada where we intend opening branches of music school. This will be incentivized to encourage them to do so. We offer a wide range of courses including single-course programs where our students are given the very best and get to learn in a serene atmosphere. musical instruments instructors will always be needed. Another weakness could be that we might not have the required capital to pump into publicity of our business the way we intend going about it. 1. However, we’ll be finding immediate remedies by ramping up our marketing efforts.eval(ez_write_tag([[300,250],'startupback_com-large-leaderboard-2','ezslot_7',148,'0','0'])); The need for music lessons has seen a sharp increase over the last 5 years. A well-constructed cancellation policy can save a lot of problems down … If you are just starting one then you will probably be requiring funds. Your business plan will describe your goals for the school, the reasons they are attainable, and how you plan to achieve them financially. Advertise our music school in relevant entertainment magazines, newspapers, TV stations, and radio station. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Maestro Melody Music School®, LLC. As a new music school in Palm Beach – Florida, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated music school industry; that is perhaps our major weakness. The industry is projected to grow at 1.3 percent annual growth within 2011 and 2016. Dancing is a historical tradition. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. It is important to state that to be able to start a music school, you should have been trained and also you should be able to play couple of major musical instrument. Delivered weekly every business faces a threat or challenge at any part of the key areas good! At present, our areas of weakness have been mediocre and haven t! 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