30% of this amount will be used as running costs. We use cookies to ensure that we give you the best experience on our website. As a business, we’ve identified our areas of strength to be in the quality of our workforce and the depth of our curriculum. BUSINESS PLAN TEMPLATE For a start-up company 18/01/2012 12:33:19(GMT) ... Get started with your business plan – www.iplanner.net Executive Summary The purpose of executive summary is to summarize the highlights of the bizplan and to provide a brief snapshot of the company. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of, and that your musical school environment is conducive enough for the students to learn and to effectively practice martial arts. Required fields are marked *. Website address 6. There has to be a structured business plan for starting a music school in place to guide your activities. If you are music inclined, you should start thinking of ways to benefit from the booming music industry, and one of the ways you can benefit from this industry is by starting your own music school. As a business owner you will need to understand all aspects of your business in order to keep it running like a well-oiled machine. (Have you ever thought about that before?) Creating a Successful Business Plan (for the Artist) The following document was created strictly for those interested in understanding the different aspects of a business plan. A growing economy also means more people having disposable incomes to spend in acquiring new skills. We intend to become a reference point for excellence. The industry is projected to grow at 1.3 percent annual growth within 2011 and 2016. On the other hand, as the economic recovery took hold, rising per capita disposable income drove consumers to increase spending on activities which including musical instruction, supporting revenue growth in the industry. Clients will only enroll in your music school or hire your services if they know that you can successfully help them learn and practice various musical instruments of their choice effectively. I will require a loan of up to $10,000 to start the business. Threats to our music school will come in the form of a dwindling economy. A well-constructed cancellation policy can save a lot of problems down … Lastly, in the bid to maximizing profits, loads of music schools engage in home services; they go to the houses of their clients as against their clients coming to their music school. Basically, players in the Fine Arts industry offer instruction in the arts, including art, dance, drama, music and photography. A business plan offers you with guidance on the path to follow. Social media is one of those advertising strategies that could be used in advertising. Phone number 5. The Fine Arts Schools cum Music Schools industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, Germany, France, Italy, Holland, Switzerland, Australia and Canada et al. We will also offer our musical training services a little lower that what is obtainable in the industry so as to generate enough revenue to run the business. Business Plan Template. If YES, here is a complete sample music school business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a music school. However, this is what it would cost us to start a music school in the United of America; Going by the report from the market research and feasibility studies conducted, we will need over four hundred and fifty thousand (450,000) U.S. dollars to successfully set – up a small scale but standard music school in the United States of America. This music school business plan sample has highlighted some of the key areas a good plan should have. Your financial house MUST be made of a strong foundation. If you intend issuing a certificate or diploma that would be recognized by the government, then you should apply for licensing and approval from the government agency responsible for regulating the education industry in your country. These are the areas we intend generating our start – up capital; N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. Maestro Melody Music School®, LLC is set to make use of the following marketing and sales strategies to attract clients; We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. 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. 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. We aim to join the big league of music schools in Illinois. Our overall business goal is to position Maestro Melody Music School®, LLC to become one of the leading music school – brand in the industry in the whole of Palm Beach – Florida, and also to be amongst the top 10 music school brand in the United States of America and Canada within the first 5 years of fully running the business. We’ve decided that this sum will be raised from loans. The payment policy adopted by Maestro Melody Music School®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Maestro Melody Music School®, LLC is a private registered business that will be owned by Duke Edwards and his immediate family members. Make sure that you are writing a business plan which best reflects you as an artist and your music. The music industry is notable for producing celebrities and “overnight” millionaires on a global scale, but one thing about this industry is that it appears that we have less number of music schools to carter for the growing number of people who choose music as a career. 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. The aim is to provide more capacity as well as purchase more equipment. Maestro Melody Music School®, LLC is going to offer varieties of musical instruments trainings and related services within the scope of the music schools industry in the United States of America. That’s also about the time I decided the first business I would start after college would be a music school. This is the major reason why the services of music schools i.e. At Tempo Studios, we seek to build a world-class music school where our students get the very best. IBIS World estimates that the top four players account for less than 2.0 percent of industry revenue in 2016. This amount will be spent on the provision of more classrooms, the purchase of equipment and the hiring of new music teachers. Advertise our music school in our official website and employ strategies that will help us pull traffic to the site. 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. Generate a larger chunk of the startup capital from the bank (loan facility). This is where your business plan comes in. At Maestro Melody Music School®, LLC, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. Making a Detailed Business Plan. We hope to open branches of our music school in other key cities in the United States and Canada and also to sell franchise in the nearest future. Now that you have decided to start your own music school, it is important that you sit back to create plans on how to raise start – up capital, how to attract clients, how to generate profits and how to run the business. Before you design your business plan construct a steering committee for the school. Responsible for fixing prices and signing business deals, Responsible for providing direction for the business, Responsible for signing checks and documents on behalf of the company, Evaluates the success of the organization, Responsible for overseeing the smooth running of HR and administrative tasks for Maestro Melody Music School®, LLC, Designs job descriptions with KPI to drive performance management for martial arts instructors / coaches, Regularly hold meetings with key stakeholders (clients and member of the board) to review the effectiveness of the business Policies, Procedures and Processes. In addition, the popularity of music in the United States will continue to drive demand for the industry’s services. So also, it is trendy to find music schools as engage in the sales of musical instruments and other musical merchandize in other to generate more income for the business. 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. 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. We also took it further by analyzing and drafting a sample small music school marketing plan template backed up by actionable guerrilla marketing ideas for music schools. Please note that the above projection might be lower and at the same time it might be higher. Both are going to want you to have around … 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. As a matter of fact, in the bid of raising capital for your music school, you should first start with home tutors and then save up cash to rent a facility and buy all the required musical instruments. 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. Writing a Business Plan for a School of Creative Music Education This project was about writing a business plan for a unique school of music that fosters creativity and promotes fun in learning. To achieve success, you must plan for it. I paid my way through a double-major in Entrepreneurship and Piano Performance by teaching and running a house-painting business. Dancing is a historical tradition. These threats can be external or internal. Our weblink will also be promoted through the creation of relevant content. This will be your blueprint of how your school is going to start and operate over the next 5 years. Responsible for providing instructions and training on music and how to play various musical instruments, Handles merchandise sales (musical instruments, equipment and other accessories), Attends promotional events and competitions, Attends to any other task as instructed by the management, Identifies, prioritizes, and reaches out to new clients, and business opportunities et al. Mailing Address 4. This content will be shared on all our social media handle to attract visits. Start your own dance studio business plan. A formal business plan is a necessary counterpart to your passion for your business concept. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. We are also strategizing to limit such threats by diversifying our business operations. 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. Include the following: 1. 1. Tempo Studios is a standard and licensed music school located in Chicago, Illinois. We have set out to ensure we include a wide array of products and services. The steering committee is responsible for defining the schools strategic objectives and business plan as well as developing a governance structure for the school. At present, our music school can contain about 60 students. 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. If you’re ready to start your small business as a Music School, the first thing you need to do is get started with a Business Plan for Music School. 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. In setting up a martial arts school, the amount or cost will depend on the approach and scale you want to undertake. Aside from the synergy that exist in our carefully selected faculty members, our state of the art musical instruments and our strong online presence, Maestro Melody Music School®, LLC is well positioned in a community with the right demography and we know we will attract loads of individual and corporate clients from the first day we open our doors for business. We will ensure that we work hard to meet and surpass all our students’ expectations as it relates to their goals of enrolling in our music school or engaging our services. First Fiscal Year $1,000,000.00, Second Fiscal Year $1,900,000.00, Third Fiscal Year $5,800,000.00. Our mission is to provide affordable professional and highly effective music trainings and services to a wide range of clients that cuts across different divides. Our marketing department will be responsible for managing this aspect of our business structure. Below is a list of the clients that we have specifically design our music school for; No doubt, the music school industry is indeed a very prolific and highly competitive industry. Advertising is one of the other tips that one needs to adhere to start an online business school. Your full name 3. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Location plays a vital role in any school business. As a standard and well equipped music school, Maestro Melody Music School®, LLC offers a wide range of musical instruments trainings and practice hence we are well trained and equipped to services a wide range of clients (both individual clients and corporate clients alike). Creating a business plan is one of the other tips that one needs to follow in order to start a music 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). Our music school will be located in – between a well – populated residential estate and a business district in Palm Beach – Florida, United States of America. Also, with the remaining money, I will begin to purchase teaching method and piano repertoire books. We are mindful of the fact that there are stiffer competitions amongst music schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing. Maestro Melody Music School®, LLC is fully aware of the modus operandi in the music school industry, hence adequate provision and competitive packages has been prepared for independent sales agents. Ensures operation of musical instruments / equipment by completing preventive maintenance requirements; calling for repairs. Here, write a paragraph stating why your business is going to succeed. 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 a client-focused and result driven music school that provides ease to learn and fully practice and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients (students and organizations alike who would hire our services). Bplans is owned and operated by Palo Alto Software, Inc., as a free resource to help entrepreneurs start and run better businesses. This sample of Music School Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. BoF's Start-Up School executive summary template Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for Maestro Melody Music School®, LLC. And then write a paragraph describing why you are qualified to run this business. This will be sourced from our banking partners and will be accessed at a reasonable interest rate. There are several models for creating business plans and as such, this is only one possible model. Responsible for financial forecasting and risks analysis. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources. Use this document as a starting tool to begin determining these various aspects of 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. A robust economic recovery is expected to endow consumers with higher disposable income levels, enabling them to spend more money on musical instruments training, particularly costly private lessons. Going forward, the industry is expected to grow at an even faster rate. The name of your studio 2. 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. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. Ladysmith Black Mambazo Indigenous Music Academy 1 BUSINESS PLAN Submitted to: THE PROJECT MANAGER: INDUSTRIAL DEVELOPMENT ³&5($7,9( ,1'8675,(6´ Department of Economic Development 1st Floor The Marine Building 22 Gardiner Street Durban 4001 TEL: 031-2029673 Submitted by: URBAN-ECON: Development Economists P O Box 810 KLOOF 3640 FAX: 031-2029675 E-mail: durban@urban … 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. These include private lessons covering guitar, piano, bass, violin, drums, voice & band instruments. We have made a three-year growth projection based on the proper implementation of our sales strategies. No doubt, the opportunities in the music school industry is massive considering the number of individuals and corporate organizations who would want to learn music and how to play various musical instruments for various reasons. This, in turn, is dependent on your marketing strategies which we have decided to improve upon. 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. We are well poised to take advantage of the opportunities presented to us. Include experienced education and business professionals, such as former head teacher and business managers. Go Straight to Your Target Market by Tapping into Local Schools. How to Start a Music School Develop a detailed business plan. This means a greater number of people are more interested and open to take music lessons. 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. Products include Beaver Creek Acoustic guitars, drum practice pad, music theory workbooks, method books, and Suzuki violin books. This will be incentivized to encourage them to do so. We will offer a standard and professional music instruments training in a highly secured and conducive learning environment to all our students. 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. 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. Email address The next section will be your statement of purpose. In setting up a martial arts school, the amount or cost will depend on the approach and scale you want to undertake. It has been four years since we first opened our doors for business. 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. We are coming into the music school industry with a business concept and company’s profile that will enable us work with the clients at different learning stages and different status. Music School Business Plan in Nigeria. In recent years, social dance has proved it’s long lasting presence in our lives. Read through each section of this outline. Opening of Corporate Bank Accounts various banks in the United States: Application and Obtaining Tax Payer’s ID: Application for business license and permit: Purchase of All form of Insurance for the Business: Lease a standard facility for the music school / studios: Generating part of the start – up capital from the founders: Design of Logo for the martial arts school: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the needed musical instruments, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the business: Creating Awareness for the music school in Palm Beach – Florida: Health and Safety and Fire Safety Arrangement: Establishing business relationship with vendors and key players in various industries. While expanding our business, we will engage in effective marketing campaigns too. Look for people who have strong networks in the local area. That will give him an idea of whether you know what you need to do and if … The outcome has been revealing and will enable us to re-strategize towards increased productivity. Below are the sales projections for Maestro Melody Music School®, LLC, it is based on the location of our music school and of course the wide range of musical instruments training classes and related services that we will be offering; N.B: This projection is done based on what is obtainable in the music school industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. The report further stated that the industry is highly fragmented with a large number of small enterprises and nonprofit organizations; high concentration is not anticipated to change in the near future as additional schools open. Maestro Melody Music School®, LLC is established with the aim of maximizing profits in the music school industry and we are going to go all the way to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis. I have a computer so that I may begin the recording studio, though this will have to be in the works for the time being. Music School Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation. It encapsulates the key points, ideas and objectives of your business in a short, concise statement that should be no more than a page. This is why we’ve committed significant time and resources to hire our teachers. 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. Well, it means a lot of things.
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