The Vision of the Business
The vision of the business would be in the field of providing a sports coaching that would be primarily in the field of providing sports coaching primarily in the field of learning after school sports like cricket, baseball, hockey, tennis and football. Sports coaches are known for there help and support that are provided to athletes for getting their full potential in the form of better learning and understanding of activities undertaken. BC Sports Coaching Company will be a new form of spots coaching institute that would be operating its new operations in the Portsmouth Area (Landa, Lillehei & Wolter, 2016). The individuals have a key responsibility of training the athletes for the undertaken sport by analysing the performance, and instructing them in various field s and activities that could help in better performance of the individual. The vision of the business would be to provide a full all round coaching classes for all the sports aspirants who want to prosper in their sports activity. One of the most important and prime thing that we would be taking into consideration is the location of the coaching sports centre which will be based on a central location (Wagner, 2019). The key reason behind the move or action would be because of the fact that students and athletes can take advantage of the centrally located place which is having high density of school per area.
The key products and services that the company would be offering will be primarily in the form of following services:
Sports Coaching Centres and Training Institute, which would be providing a range of certifications and programs done by various sports professionals (O’Donnell & Dahl-Popolizio, 2018).
Equipment Shops that would be consisting of all Sports equipment’s.
A lobby that would be for relaxation and discussions with the colleagues and other players where they can peacefully have refreshments.
The players would be given an option to practice in the coaching centre with the various set of strategies and focused mentorship so that one students can make progressive improvements.
Participation and Involvement of players in various types of events and activities can be one of the key factors that could motivate and boost the learning aspiration for the sports aspirants.
The external analysis for the company would be done by reviewing the industry overview under which the operations of the company will be placed. It is the duty of the sports experts teach the basic skills that would be needed or required for the purpose of getting basic skills and requirements. According to the statistics and information’s analyzed it was observed that the number of sports coaching center that operates in the New Zealand Area has increased consecutively. It was estimated that the sports coaching business is valued at $8 Billion in the business form. From the year 2012 to 2017 the industry was comprised of many form of business which are primarily in the form of 130,000 business (McCready & Molls, 2018). The growth rate that is seen by the industry is around 3%. Experts operating in the industry believe that the annual growth rate will be highly dependent on the participation that will be seen by sports enthusiast who would be looking for more and more opportunity for getting proper sports training. The industry forecast and estimate will be used for the purpose of getting the estimate the performance of the proposed venture. In terms of business structure the aim of the BC Sports Coaching would be to provide the best of program, support from staffs and equipment for meeting the various golf coaching and fitness needs required by our clients. The coaching institute would be well organized and managed in a creative and innovative way for generating a better level of customer related services (Yu, 2018). The External analysis could also be well done with the help of SWOT Analysis for the BC Sports Coaching as shown:
Key Products and Services
Strength: The key strength that the company would be focusing on is by providing a first class equipment usage, an elegant and a comfortable lobby, there would be showers and changing rooms, so that all the required things needed in a training institute are well availed by the users within their annual membership that they would be paying (Qureshi, Saeed & Wasti, 2016).
Weakness: The key weakness for the new start-up coaching center would be the acceptance of the club as a promising one amongst the sports enthusiast, which would take a bit amount of time in recovering the initial investment or achieve a certain level of profitability.
Opportunities: Sports industry have been blooming as more and more people are becoming health conscious and taking more amount of care in the field of their health related concerns, which can be well avoided with help of some or other form of sports activities. The growing demand for golf coaching centers would be providing a great opportunity for the company to expand its business operations.
Threats: The key threat that the company would be facing will be primarily in the field of unfavorable government policies, increasing competition and global economic downturn that can affect the demand for such sports activities like golf.
The internal analysis for the business firm would be done in the form of action taken by the management of the Sports Coaching for managing the various associated and related works of the assignment. The key roles and responsibilities that would be shared by each of the individuals in the management of the golf club would be as follows:
Head of Institute: The head of institute would be responsible for providing a direction to the institute that would be in the form of guiding various courses of action for the club. Creating, communication and implementing the vision of the institute by leading the organization for overall development and implementation of overall institute strategy (Lindly, Amirkhanian & Taylor, 2019).
Administrator: The administrator would be responsible for overseeing the smooth running of the HR and Administrative Tasks for providing coaching class (Barton, 2016). They would also be responsible for regularly meeting with the various stakeholders of the company.
Tutors: The tutors of the club would be responsible for effectively teaching subjects that are assigned by the administrator of schools. Getting better access with the progress of the student that is placed under training. Representing the club in various meeting and workshops carried out will be some of the initiatives taken by the tutor.
External Analysis
Marketing and Sales Activity: The key responsibility of the marketing and sales activity of the club would be primarily in the field of identifying, prioritizing and reaching out various new partners and business opportunities. Development, implementation and execution of new plans for the purpose of increasing the sales activity of the company.
The marketing and sales strategy that the BC Sports Coaching would be applying will be based on the services and amenities that would be provided by our institute. In order to plan and ensure that all the associated users and institute must feel that they would be getting the best possible values for earning money. The aim of the marketing strategy would be solely based on the aim that the givens set of services strive to match with the best of customers expectation and value taken into consideration (Shields, 2017). We would also be planning for ensuring that the membership of any institute and actions that has been considered is well settled off in the time period analyzed. The marketing plan that would be developed for the new start-up company will be solely focusing on getting more and more amount of revenue for the proposed start-up plan. The sales and marketing strategy that would be carried out by the company will be primarily in the field of placing advertisements for the planned coaching institute. Certain key initiatives for the planned marketing strategy would be in the field of:
Placing Advertisements in the newspapers, magazines and various other magazines can be one of the best possible option.
Sponsoring various programs and workshops whereby relevant amount of work are carried on.
Development of ongoing relationship with the guidance counsellors that would be referred back to the Coaching Schools would be considered on an ongoing basis.
Installation of Billboards at strategic location can also be considered.
The effort of marketing team that would be done can be well captured with the help of the market penetration rate that would be reflecting the amount of growth of business services. The marketing and selling expenses that the company would be incurring will be expensed in the same year income statement. The marketing team of the company would also be responsible for reviewing various courses of actions and recommendations that the management of the company could take for the purpose of increasing the overall sales of the company. Research and development of the various market aligned activity plays an important role and the inclusion of the same in the business operations would be helping us in analysis of the market segment.
SWOT Analysis
The financial report of the new startup BC Sports Coaching would be prepared for a sum of three years whereby relevant analysis in the form of income and expenses sources that the company intends to incur would be taken into consideration. The financial projections for the startup would be helping us in estimating and analyzing the various changes in the finance of the company that would be observed with the changes in the business and financing structure (Cant, 2016).
Revenue: The revenue that the company would be earning will be around £75,000 in the first year and the same is expected to grow at a rate of 10% in each of the following time period that has been analyzed for the company. Revenue will be earned by the company in the form of annual membership fees collected (Laakkonen, 2017). The annual membership that would be charged to the client would be around £32 on a per hour basis (PE) and parents £3 per child, for a yearly membership and the same would be accounted for the purpose of calculating the revenue base.
Operating Expenses: The operating expenses that the company would be incurring will be primarily in the form of rent, salary, wages, registration, licenses costs, preliminary expenses, marketing & selling expenses and various other operating related expenses.
Profitability: In terms of profitability the financial performance of the new start-up plan would be the key measure for judging the profitability that would be earned from the portfolio. The amount of profitability that the company would be earning from the business in the first year of operations will be around £4,661 the return on investment for the business will be around 4.66% in the first year.
Financing: The initial amount of investment that would be required for the purpose of financing the operations of the company will be around £125000 that would be financed with the help of both equity and debt financing. The equity finance will be contributing around £100,000 while at the same time the rest of £25,000 would be financed with the help of debt financing.
Assets: The key assets that the company would be purchasing for the purpose of using it in the business course of operations would be equipment’s and vehicles whereby the company would be investing around £41,000 on a total basis.
Return on Investment: The expected ROI from the business venture planned will be around 4.66% which is a sound return that would be generated on the total equity amount invested.
References
Barton, A. (2016). The Munch: An Integrated Business Plan.
Cant, M. C. (2016). Entrants and Winners of a Business Plan Competition: Does Marketing Media Play a Role in Success?. Journal of Entrepreneurship Education, 19(2), 98.
Laakkonen, H. (2017). Developing a successful business plan: Berry beverage bicycle vending cart.
Landa, J., Lillehei, C., & Wolter, A. (2016). Dear Sarah VanSickle: Enclosed is our business proposal for the Project Friendship 5K Fun Run. The proposal is split into four major sections: a needs statement, project description, a progress plan, and financials. We believe that by using our plan, and the deliverables with it, Project Friendship will be able to create a unique, cohesive, and fun event.
Lindly, J., Amirkhanian, A., & Taylor, D. (2019). Disadvantaged Business Enterprises: Support Services for a Business Development Program (No. UTCA 18402).
McCready, K., & Molls, E. (2018). Developing a Business Plan for a Library Publishing Program. Publications, 6(4), 42.
McKenzie, D. (2015). Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. The World Bank.
O’Donnell, R., & Dahl-Popolizio, S. (2018). Business Entrepreneurship: The Integrated Behavioral Health Business Plan. In Training to Deliver Integrated Care (pp. 143-159). Springer, Cham.
Qureshi, M. S., Saeed, S., & Wasti, S. W. M. (2016). The impact of various entrepreneurial interventions during the business plan competition on the entrepreneur identity aspirations of participants. Journal of global entrepreneurship research, 6(1), 9.
Shields, J. (2017). Business to Business Marketing.
Wagner, R. A. (2019). The Business-Model ‘Flag’: A Visualization Tool for Pitching Financials. Available at SSRN 3409229.
Xu, H. (2018). Business Plan Project.
Yu, J. M. (2018). Yu Buyu: A Curatorial Studio: A Business Plan 2019-2024.
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