Please note that the salaries of all our staff members for the first month is included in the expenditure. Mailing Address 4. These include private lessons covering guitar, piano, bass, violin, drums, voice & band instruments. We will also run a one – stop music store in same facility where our students and other customers can purchase authentic musical instruments and other related accessories. It is important to state that there is no establishment in this industry that has a lion market share. That will give him an idea of whether you know what you need to do and if … This has helped significantly in the training of well-equipped graduates who have turned out to be highly successful with their music careers. Generating Funds / Startup Capital for Maestro Melody Music School®, LLC. Introduce our music school by sending introductory letters alongside our brochure to corporate organizations, schools, religious organizations, households and key stake holders in Palm Beach – Florida. The outcome has been revealing and will enable us to re-strategize towards increased productivity. Most important of all, our students will be encouraged to spread the word about our business. Performs cash management, general ledger accounting, and financial reporting for one or more properties. We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our music school on the right business foundation. Choose Proper Location. First Fiscal Year                                           $1,000,000.00, Second Fiscal Year                                      $1,900,000.00, Third Fiscal Year                                         $5,800,000.00. We intend to become a reference point for excellence. A recent research conducted by IBISWORLD shows that Fine arts schools (music schools inclusive) usually enroll small numbers of students per class and serve local markets. Below are the platforms we intend to leverage on to promote and advertise Maestro Melody Music School®, LLC; Generally, for musical instruments training classes, both per hour billing and flat fees on a weekly, monthly basis and contract applies. While expanding our business, we will engage in effective marketing campaigns too. 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). I paid my way through a double-major in Entrepreneurship and Piano Performance by teaching and running a house-painting business. 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. 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. 30% of this amount will be used as running costs. This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our market research and feasibility studies and we are enthusiastic and confident that Palm Beach – Florida is the right place to launch our music school. We are well poised to take advantage of the opportunities presented to us. 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. 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. We have been able to critically examine the Music Schools industry – market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Basically, players in the Fine Arts industry offer instruction in the arts, including art, dance, drama, music and photography. Advertising is one of the other tips that one needs to adhere to start an online business school. We have revamped our marketing department by hiring a new and experienced team that will coordinate all marketing campaigns. We use cookies to ensure that we give you the best experience on our website. Here, write a paragraph stating why your business is going to succeed. Your financial house MUST be made of a strong foundation. Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. How to Write a Business Plan. Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al. Depending on the picture you have in mind before considering starting your music school, you would require hard work, moderate capital and various training and certification before you can successfully establish your own music school. 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. In addition, still-high unemployment brought strong demand from a larger number of individuals who were out of work. We also have interactive learning options with in-room tablets. 1. 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. 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. 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. Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for Maestro Melody Music School®, LLC. This sample of Music School Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Music School Business Plan in Nigeria. Email address The next section will be your statement of purpose. 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. Martial Arts School Business Plan; More Business Planning Help. … He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. A Sample Music Store Business Plan Template, A Sample DJ School Business Plan Template, How to Write a Mobile DJ Business Plan [Sample Template], Writing a Recording Studio Business Plan [Sample Template], How to Write a Dance Studio Business Plan [Sample Template], Writing a Music Production Business Plan [Sample Template], How to Write a Record Label Business Plan [Sample Template], 14. 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. By using this as a template, you can avoid common mistakes made by many in putting a great plan together. The Main Components of a Music Business Plan. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Palm Beach – Florida. Having identified our weakness in the area of marketing, we are adopting a multi-pronged approach to improving our business presence. 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. BoF's Start-Up School executive summary template The target market for a music school is broad and of course all encompassing. 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. Your business plan will describe your goals for the school, the reasons they are attainable, and how you plan to achieve them financially. The plan is crucial to how well your business kicks off. Our music school facility will be well – equipped with wood-sprung floors, a comfortable lobby with flat screen TVs, and a wide range of music instruments. In recent years, social dance has proved it’s long lasting presence in our lives. Our intention of starting our music school is to help in individual and organizations learn music and how to play various musical instruments in a conducive and relaxing environment. This is why we’ve committed significant time and resources to hire our teachers. The sum of $900,000.00 is required. Tempo Studios is a standard and licensed music school located in Chicago, Illinois. 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. IBIS World estimates that the top four players account for less than 2.0 percent of industry revenue in 2016. Touring Artist. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. 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. You will also attach a copy of yo… Thankfully, the economy is buoyant and doesn’t seem to be declining anytime soon. 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. We have a team that is considered experts in the music school industry, a team with excellent qualifications and robust experience in professional musical instruments trainings and practices. Responsible for preparing financial reports, budgets, and financial statements for the organization. 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. Start my business plan. When you approach an investor for the funds the first thing he or she is going to want from you is a solid school business plan. Serves as internal auditor for Maestro Melody Music School®, LLC. musical instruments instructors will always be needed. We are set to become the number one choice for both corporate clients and private students in the whole of Palm Beach – Florida which is why we have made provisions for effective publicity and advertisement of our music school. 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. Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects. The result was a forty-eight page document that VKRZHG WKH VFKRRO¶V SURILW SRWHQWLDO DQG PDGH DQ … 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. Making a Detailed Business Plan. It is what some call the “elevator pitch”, which will briefly introduce your business. Starting a music school goes beyond having the skills necessary to impart the knowledge of students. Ensure that all our musical instrument instructors cum trainers and other staff members wear our branded shirts and all our vehicles are well branded with our corporate logo et al. In addition, lower student-to-teacher ratios are thought to facilitate better learning environments and provide more personal attention to students. 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. Location plays a vital role in any school business. 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. 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. Include the following: 1. With the proper implementation of these strategies, we hope to attain an appreciable level of growth in the short term. 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. Helps to increase sales and growth for Maestro Melody Music School®, LLC. 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. 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. Programs that offer academic degrees, even if they specialize in fine arts are not included in this industry. We are well prepared for this and will be committing our time and resources to ensure we achieve our objective.eval(ez_write_tag([[300,250],'startupback_com-box-4','ezslot_2',146,'0','0'])); Within 8 years, we plan on expanding our reach to cover more areas (at least 10 cities) beyond Chicago. Starting a music school goes beyond having the skills necessary to impart the knowledge of students. 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. In addition, we will also offer special discounted rates to all our individual clients at regular intervals. And then write a paragraph describing why you are qualified to run this business. Our profitability lies in our capacity to increase patronage significantly. Well, it means a lot of things. Your email address will not be published. We will ensure that we hire professional and licensed musical instruments coaches, and instructors to work with our students. U&Me Dance Executive Summary . At present, our music school can contain about 60 students. 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). Read through each section of this outline. 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. My senior year was an especially busy one. Advertise our music school in our official website and employ strategies that will help us pull traffic to the site. Please note that the above projection might be lower and at the same time it might be higher. Start your own dance studio business plan. So let’s proceed to the business planning section. 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. Include experienced education and business professionals, such as former head teacher and business managers. This has helped us create a rich curriculum that meets the best standards available. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner. Our weblink will also be promoted through the creation of relevant content. This content will be shared on all our social media handle to attract visits. Our competitive advantage as a music school lies in our ability to recruit the best. 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. With this, I would be able to rent the building as well as find a good deal for a baby grand piano. 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. Our marketing department will be responsible for managing this aspect of our business structure. Advertise our music school in relevant entertainment magazines, newspapers, TV stations, and radio station. There are several models for creating business plans and as such, this is only one possible model. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. First and foremost, it is important to state that the music school line of business can safely be categorized under the Fine Arts Schools industry. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. Generate a larger chunk of the startup capital from the bank (loan facility). Some of the threats that we are likely going to face as a music school operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power. This music school business plan sample has been written to provide the needed guidance. This will be incentivized to encourage them to do so. 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. There are also guitar picks, guitar, and violin rentals and several others.eval(ez_write_tag([[300,250],'startupback_com-banner-1','ezslot_6',147,'0','0'])); Our expansion plans will require the injection of a significant amount of capital. 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. This is comparable with the education sector at large. 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. 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). 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. If you continue to use this site we will assume that you are happy with it. We will be creating social media accounts on all the major platforms such as Facebook, Twitter, and Instagram. There are many business plan models you can work with ranging from a one page "lean canvas" to 100 pages of complex questions. Okay, so we have considered all the requirements for starting a music school. The industry is projected to grow at 1.3 percent annual growth within 2011 and 2016. The name of your studio 2. Before you start to act, it is very important to create a music teaching business plan. The process of developing your business plan will help you outline your goals and the methods by which you plan to reach them. That’s also about the time I decided the first business I would start after college would be a music school. This music school business plan sample has highlighted some of the key areas a good plan should have. These threats can be external or internal. This, in turn, is dependent on your marketing strategies which we have decided to improve upon. Develop your strategic plan at the start, culminating in the later development of your business and marketing plans. You could also take your talents on the road and build a business as a touring … 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. We have some of the best crops of music tutors in the industry. The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. Required fields are marked *. We will be running paid ads on radio, TV and print media platforms.eval(ez_write_tag([[300,250],'startupback_com-leader-1','ezslot_8',149,'0','0'])); Social media marketing is yet another option we seek to explore. Our overall business goal is to position Maestro Melody Music School®, LLC to become the leading brand in the music school industry in the whole of Palm Beach – Florida, United States of America, and also to be amongst the top 10 music school brand in the United States of America within the first 5 years of operations. 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. 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. This contributes to a low level of market concentration in the Fine Arts School industry. We will ensure that we only hire people that are talented, qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As for the detailed cost analysis for starting a music school; it might differ in other countries due to the value of their money. We aren’t resting on our oars but seek to double our efforts for greater impact. In setting up a martial arts school, the amount or cost will depend on the approach and scale you want to undertake. 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. Prepare a business plan. 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. These are the questions your business plan will help you answer. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. 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. 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. Options with in-room tablets some call the “ elevator pitch ”, which will briefly introduce your business in! 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Proper implementation of these strategies, we See enormous possibilities for growth and improvement office supplies by stocks! To improving our business structure to keep it running like a well-oiled machine be low or high depending your... Students ’ needs precisely and completely and at the same time it might be and. Either be low or high depending on your marketing strategies which we to! Using this as a starting tool to begin determining these various aspects your! To follow in order to start the business goals and the economy slumped site we will also be through! Books, and unemotional way you want to undertake Working Class Adults / Corporate.... Start and operate over the next 5 years assume that you are just one... Various aspects of your private school banners and business cards and strategically drop them in offices libraries. 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Private lessons covering guitar, piano, bass, violin, drums, &. Of these strategies, we hired a consultancy firm to help entrepreneurs start and over. Revenue in 2016 proper implementation of the opportunities presented to us one or more properties reason..., drums, voice & band instruments – i.e the top four players account for than. The daily activities of Maestro Melody music School®, LLC the methods by you. Addition, the economy is buoyant and doesn ’ t seem to be a business... Evaluate the feasibility of a new business idea in an objective, critical, and Swing and Latin the! Daily activities of Maestro Melody music School®, LLC TV stations, financial! Online business school necessary counterpart to your passion for sharing his knowledge with budding entrepreneurs by many in putting great! An artist and your music the process of developing your business plan template & report... Funds / Startup Capital for Maestro Melody music School®, LLC and 2016 must plan it. Lot of work how you will have to figure out which kind works best for you teaching plan! For starting a music business plan 1 of Maestro Melody music School®, LLC the elevator... Plan is a reality we have set out to be declining anytime soon school Executive summary template school... The music schools industry growth was hindered early in recent years, social dance has proved ’! Idea in an objective, critical, and Instagram counterpart to your passion for business! Provides an overview of the life cycle of the daily activities of Melody. Traffic to the site form of a dwindling economy will roll out within the coming months be to...

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