Discuss about the Leadership in Preparedness, Crisis, and Recovery.
The Art Sphere Gallery School of Art in September of this year started its operations. It expanded it business location into 787 square foot facility from an ordinary room. The corner plot of the main and 1st Streets in Birmingham, AL. The business has started in growing in an unordered way from September. This plan will present to make a framework for growth to maximize profit potential. By the end of third year, the plan may be successful to make increasing profits. (BPlans, 2016).
The Art Sphere is dedicated in providing professional instruction and competent in art in a friendly way, with good surroundings and catering to the varying needs of target market groups. The Art Sphere trying to make a personal and longer term relationship with the customer who can be achieved by not focusing on generic art course that continued for six sections taught at Bessemer State College. The Art Sphere recognizes that the actual product that it sells is much different from the given instructions on arts. Helena Rubenstein said that in factories cosmetics is being manufactured but the product that is sold is called 'hope” (BPlans, 2016).
This is a true thinking at the Art Sphere. The product that is sold is viewed in different way by different buyers. A student with good potential may need special help in managing his portfolio at the time of applying to any art school. A 70 year-old woman may seek a fun way an otherwise empty day. An executive with huge stress may seek peace and relaxation. Encouragement, escape from loneliness, stress-relief, technical advice, self-expression, etc. were some of the products that were sold by the Art Sphere. The owners of the Art Sphere recognize that lessons on art may take place at less than $5.00/hour in some state college evening courses. The Art Sphere cannot compete with the prices. It can tailor the actual products that the customers sought will create and maintain a high level of sales (BPlans, 2016).
Executive summary for plan A has started by giving effect to a clear growth rate in their sales from the time it started its business. The summary contains a financial growth graph that represents the numerical growth. The summary provides a review about the business growth with describing the need of a business plan. The summary gives the overview of the main factors that provides intended outcomes like penetration into the day-market in form of providing art classes, revision of pricing strategies and increasing profits (Boons & Lüdeke-Freund, 2013).
The objectives of the business is to state the intention of expansion specially providing services for art classes. The objectives of the business includes that it can contribute to the profits of the company and can perform as the expansion indicator if they get the art classes filled for the morning and evening sessions by the 5th month of penetrating into the market (Grant, 2013).
The company has the intension to expand business by separating the supplies and generating separate revenue from it. This is a good step from the side of the company.
The company wants to maintain its profit from the time of its establishment which is the most important objective of the business.
The advantage a business could get through targeting different market segments is described in the business plan. It differentiates between the products offered by the company and the art that they make from their students to learn from the classes. It states the different kind of customers like categorizing them in age group and their interests. The mission contains all the improvements which the art company could contribute to their business for its expansion (Thompson & Trice-Black, 2012).
The advantage which the company could have over its competitors can be concluded with the different kinds of customers.
The company can maximize the utilization of available resources and maximize profits by managing the time for empty spaces in the art class. The resources should not get wasted after the usual classes time is over and the users can prolong their time easily. The conflict between owners and artists can be reduced in order to maximize the profit of the company (Matt, 2012).
The location for the company is an important part compared to the competitors but attention to all the other details is also to be paid like comfortable seating, smoking policies, lights etc.
The overview of the company includes number of art students, available seating, the time and cost of each art class, the location. The management strategies are clearly mentioned and emphasized to get the maximum output from every resource.
In the next section, company’s overview is provided. To provide a review the owner’s experience is highlighted and the outlets and products are mentioned. The employment history and education well known persons is presented to prove the business credibility which means the business has started by the well-experienced people. This can be helpful to get a greater market share and to attract target market group.
Total planned expenses to start the company are very realistic and are never over or under rated. The company does not take much of loans and is dependent on the assets, investments and the capital which is reserved for the company. The company has a big advantage about the location like being 6th unit in the street and having open doors to the street side. The plan indicates the improvement expenses of the company that they have to bear to meet their expectations like building paint and other repairs (Kupp, Reckhenrich & Anderson, 2012).
The plan has three main products and services which would be provided to meet customer’s expectations. The business can be expanded by offering day, mid-day and evening classes. The wide range of art supplies which is a good idea to produce revenue from the related products is offered. The plan provides that the owners who are well known icons in the field, would continue to sale their work (Cha et al., 2012)
The plan involves almost all of the people of Birmingham to invest the time in company’s business. The time duration from 9:00 Am to 9:00 Pm would be divided according to the age groups. These 12 hours are included to be fully utilized by the company. The evening classes are particularly planned for working people on jobs which the prominent part. Overall market share growth is 7.49% for the first five years considering all of age groups. The time and budget are given full considered to get the maximum outcome. The factors of interest, skill level and the time are an opportunity as the business plan identifies the need of the company and describes the competitiveness (Mullins, 2012).
Each and every category has different features from the others and is a good service of the company. The resources are very well settled and developed to have each type of service according to the price and expectations of the customers.
The plan includes competitor’s analysis and the products and services they are offering. The first competitor has time issues and is usually fully booked and does not offer classes during the day time. The second competitor in the plan is from an unorganized organization running by a woman with no particulars and specific line of business. The third competitor is also comparatively an average company. The fourth competitor has almost the same image as third competitor and does not offer any distinguishing or outstanding product.
The plan identifies the real strengths of the company mentioned by its owners and the factors portraying the comparison with others. Multi-time slots, two experienced instructors, identification of market segments, availability of spot supply space available and high-profile location, student art exhibition are the enlisted strengths for the company. It has not met the expectations of getting students as the market strategy emphasizes to take into consideration the slot from 9:00 Am to 3:00 Pm particularly.
The sales strategy wants to identify the plans to get the customers attention to their business. The business owners can provide free art lesson call for this purpose and the surroundings, time and number of people present would be taken into consideration according to each of the client. Implementation can be carried out taking profiles and following up. The plan also pays attention making contacts with the customers in details. To making continue making follow-up for each of the client the gestures and actions should be considered. The school-going aged group or the art supplies are forecasted to generate revenue for the business but not in a large scale in the starting days. The profit generating expectations for the company is clearly presented by the monthly sales which combine into the yearly sales. In 3 years, $1,20,000, $2,10,000 and $2,40,000 are forecasted to be generated through sales respectively. Sales program further emphasize on the same few points of objectives of the company. The company may need more investments to improve its operations and meet the expectations of the customer and him important facts can be further mentioned in a tabular format.
The two owners of the art schools would not allow any employee to the business but will manage by themselves. Concentration on the Art Company can be carried out by one of the owners. Both the owners would take minimum salary initially the company should continue the cash flow and the owners can take minimum salary.
The break-down analysis and break-even analysis are presented to make the plan realistic to implement and the details are should be considered while making the financial plan. The important and detailed financial plan includes cash flows, balance sheet, profit and loss statement and business ratio and the projected amounts gives brief and detailed view of the overall business. The strong financial plans are intended for business expansions keeping everything real for implementation.
The plan ends with sales forecast, personnel plan, general assumption table with interest rate and the tax that is mentioned in full details.
Hart Fraeme Gallery is a gallery with fine arts and a custom frame shop with total service. The high-quality framing of custom is the cornerstone of the business of Hart Fraeme Gallery. The company is really famous in its field and offers same-day and 11-day custom framing without maintaining the standard of 21-day. The Gallery is founded for the innovative metro area with trend-setting designs and an impeccable quality finished product (BPlans, Art Sales Custom Framing Business Plan, 2016).
Hart Fraeme has several years of experience operating another art gallery and custom frame shop and is the owner and operator of the Gallery which is an S-Corporation. Mr. Fraeme has accumulated the knowledge, expertise, and contacts that has led him to found Hart Fraeme Gallery (BPlans, Art Sales Custom Framing Business Plan, 2016).
The company does not have a retail location, but are planning a place to acquire a location in the Uptown Mall. The lack of nearby frame shops, as well as the area demographics makes the location attractive for the customers.
The Gallery is confident enough that it can enter and establish itself in the market as per the financial condition of the plan. The company expects sustainable income and gross margin the coming years as the financial projections are positive (BPlans, Art Sales Custom Framing Business Plan, 2016).
The company provides an exclusive service which is customs framing which is the least time taken for framing in comparison to the competitors. The trio polis metro area is the innovative place with trend-setting designs. Finished products of impeccable quality at unmatched speeds are noted to gain strength of the company (Kapferer, 2012).The owner of the company has experience in framing of many years with a framing shop. The strength of the company is the location which is not having other frame shops. The summary describes that the gallery is planning to have a good retail location as they do not have any retail location for the gallery (Wild, Wild & Han, 2014).
Both the business plans are relevant for Art to performing better comparison of the same field plans.
Framing and artwork for sale divides the gallery into two categories which generates revenue. There are 500 moldings and more than a thousand unique mat boards mentioned in the plan. The Gallery offers a large variety of design styles, decorative mat cuts with display options. The positive business growth of the company can be ensured by the future projects of the company mentioned in the plans (Gao, 2012).
The company has the objective to open retail in the area of Tri Polis Metropolitan. The next objective of the company is to focus on marketing aspects like advertising and web store to receive the clients who wish to purchase online (Halme, Lindeman & Linna, 2012).The third objective of the company is to have the competitive edge over the competitors which the time frames for some particular materials. The company is interested to maintain the relationship with the suppliers of the required for framing to ensure the competitive advantage of time. The order made on weekly basis will make a stronger relationship with the vendor. The efforts made for the improvement should be made in terms of being updated with the framing trend and getting updates on the fashion so that the company could strive to be among the trend-following competitors (Day, Muras & Ryg, 2014)
The foundation making statements of a company are the mission statements on which the company focuses. The company could exceed the traditional industry standards of framing with the lucrative designs which are made after the thorough review of traditional and other decoration trends ( Fanale & Demaerschalk, 2012). The company has more strength like commitment to work and excellent craftsmanship and the keys to success are innovation, technology, time management and speed and craftsmanship (Hartman, DesJardins & MacDonald, 2014). The summary ends with a graph of the profit and margins.
The company has the time advantage of same-day or 11-days for framing in the market. The owner of the company has three years of experience in the field which includes managing human resource, marketing, advertising materials, recruitment and training etc. The costs to start the company can be distinguished in five major categories like framing equipment, inventory, retail equipment and fixtures, working capital and miscellaneous. The major part of start up costs depends on the loans and the investments. It ends with the summary of total assets and expenses.
The focus of the business is art and frame and the products and services are clearly mentioned. The types of frames and variety that are offered to the clients are stated in details. The business offers a variety of material that the customers can select according to their needs for framing. It depends on the style of different framing that was displayed and also on the medium.
The handicrafts, wall décor, shelves, sconces, mirror, etc. occupies the maximum market share and the break-down is presented in the table to describe the usual sold out art and most of the share goes to unframed art. The information about buyers is categorized into the demographic categories of age, urban and suburban, college graduates and for each category of art is presented separately. To generate the idea of target market a review of target buyers is to be presented.
The local, international and local businesses and organizations are the three types of customers group and with the help of pie chart and in percentages in a table the market analysis can be carried out. The most interested in this business are mentioned in the target market strategy of the business. The homeowners are actually the most important part of the market share.
The strengths of the business include the plan of the service business analysis in details. The strength of the company is innovation and the trends of the time. Now a day, people are aware of the trends and require changing the décor according to the trends. There are few competitors at the location and the buying pattern of the customers depending on demographics is presented to clarify the target market share for the company.
The company strives for earning a good repute and has to earn a differentiation through its marketing and the products of service. The time speed and the technology are the most important factors in this tough competition where the software suite is mentioned that helps in designing and amendments by the designer or by the customer (Godach, 2012). The adaptability and the openness to the changes throughout the process of framing is an important advantage.
Satisfied customer is the tool of marketing where as marketing strategy includes sales promotions and the speed of time in every advertisement.
Sales strategy states the pricing strategy as the keystone to markup price settlements. The company would follows keystone markup for only the first order but afterwards it depends on supply and demand factor. The timings, material and labor cost would be determined for pricing for custom framing. The details on different materials for pricing are to be given.
Sales forecasts should be discussed for a new company as the sales are quite higher for each year. The business is based on the loans and most of it is invested on advertisement .Any fluctuations in the business could face terrible outcomes.
Web plan summary has pointed out different purpose for launching a website. The factors stated in the business plans do not specify any particular profits for the company. The company information and contact can be found in every related websites. Only few people visits websites mentioned on the business cards and letterheads. The responsibilities of each individual in website development plans and requirements are mentioned at the end of the plan.
In the starting days of the company, the only employee was the founder and he plans to hire an assistant in order to take care of further tasks. In the first year two sales and two design assistants would be hired and the graphical representation of their salary is presented in the table.
The overall break-down of assets, capital and expected generated revenue are described in the financial plan. The financial analysis are break through, break-even, cash flow, balance sheet, profit and loss statement and the ratio of business utilizing the cash is presented in detail. The details of sale forecast, personnel plan and cash flow are provided in the appendix.
The business has a lot of strengths like presenting the realistic view of the facts and figures and its financial plan is very realistic (Halme, Lindeman & Linna, 2012).The comparison between the competitors in the market is very much clear. The overview of the company with the objectives of the plan is made after detailed careful consideration. The competitive advantage that the company would be having is clearly stated.
This business plan provides the review of its target market. The opportunity of location and speed of work gets highlighted. The price and other factors of the materials to make the final product are described here.
The supplies that should be provided at the art school are not clearly explained. The plan does not explain the details of marketing strategy other than follow up which is going to be used.
This plan is weaker if it is compared to plan A. The company is depends on loans but most of it is used in advertisement, so the financial plan is unrealistic. The owner has the possibility to get bankrupt if the plan does not work well and would have to wind up his business. The marketing strategy is comparatively weaker as they only use the words of commitment and innovation and do not implement them. The plan is very flexible and changes in frequent manner but in the real world it is not possible to change the plan (Junttila, 2015).
The plan depicts the required information relating to financial, management and operational plans. The components in the plan clearly define and break down so that the reader could easily receive the details of each area. The plan has got much strength like taking advantage of location, advances forecasts, strategies, and timings of classes and utilization of most of the resources to get maximum profit (Mann & Kost, 2012).
The information presented in this plan is incomplete or unrealistic. The details of everything are provided but some of the significant parts like financial areas are ignored. At some point, the plan is very general and the competitive advantages are not worth investing time for. The assumptions that are made are unrealistic as only one person cannot take care of a growing business. A plan can never be realistic if economic condition and the market situation were ignored (Ker, 2012).
The Business Plan A should give importance and clearly defines the marketing strategy that should be used.
Art is a really sensitive and difficult business to get majority of the audience. The reader should get attracted to the plan forits elaborative trait.
The plan should be conservative about financial plans and projections by giving more details of the businesses involved. The art supplies details should be mentioned in the plan (Awe, 2012).
This business plan B should have realistic financial plan. It is not recommended to depend on the loans and spending half of the money on the advertisement.
The plan should focus on the competitive advantage other than time. There are many people who can wait for more time but may like some of the designs. Time may not be counted as critical factor in this regard. The plan should not be more flexible that it keeps on changing and results in the change of the entire planned resources (Van Assche, Beunen & Duineveld, 2012)
The plan should emphasize and describe the strengths in the systematic way of considering and referencing with facts and figures. The plan with all the assumptions should be revised.
The business plan must be big and high enough to reach big goals. It should be in a detailed way to give specific, break down of instructions on how to achieve those goals. The detailed overview of the market and competitors should be considered with relevant facts and figures before making a plan. Business plans are the projections that are a few percent of actual pictures but in real it should be very realistic for financial issues. A realistic financial plan makes the entire plan more validated (Barrow, Barrow & Brown, 2012).
All the plan segments sometimes become very difficult with the assumptions and projections and taking care of each and every side of financial issue. In real world, there are always unseen costs and event so the margin kept for these assumptions should be higher than assuming that economy and budget would always be under control (Maurya, 2012).
The plan of other company surviving in the market, could give a brief idea of facts relating to it.
One business could never target demographics exactly in the planned manner. The forecast of the target market would always keeps on fluctuating. The thorough evaluation of the market is necessary which shall be time consuming and should not be only a general review of the customers (Mann, & Kost, 2012)
A business plan should be really eye-catching till the end and should focus on the strengths of the company and its business plan. The plan should not be flexible to have frequent changes and should not be too conservative of accepting any changes in the place of work. I should be evenly managed (Edwards, & Curtis, 2012).
Some plans actually start in a very attractive manner of creating a spell on the mind of the readers but other plans involves are marketing, financial and operation do not make it realistic to believe. Another important fact that should be kept in mind is funding is not the only thing that could get the idea through and make successful plan. The best results can be obtained by combining the small and big integrations (Hsu, 2012).
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