Small Business Enterprise: Profile, Financial Performance, Weaknesses, and Expansion Opportunities

SMALL BUSINESS ENTERPRISE
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Table of Contents
INTRODUCTION ...............................................................................................................................5
TASK 1.................................................................................................................................................5
1.1 Profile of the company...............................................................................................................5
1.2 Comparison of Financial Performance......................................................................................5
TASK 2 ................................................................................................................................................6
2.1 Assessment Of Weakness...........................................................................................................6
2.2 Existing performance.................................................................................................................7
2.3 Suggest new areas......................................................................................................................8
TASK 3 ................................................................................................................................................9
3.1 Assessing Business Objectives..................................................................................................9
3.2 Reviewing the business plan....................................................................................................10
3.3 Implementation of action plan.................................................................................................10
TASK 4...............................................................................................................................................11
4.1 Impact of proposed changes will have on business and its personnel.....................................11
4.2 Plan for managing change........................................................................................................12
4.3 Improvement in the business operations..................................................................................13
CONCLUSION .................................................................................................................................14
REFERENCES...................................................................................................................................15
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INTRODUCTION
United Kingdom is one of the welcoming country for the new start-ups and further
dominated by service industry. This report reveals the success story and business plan of the
Razzmatazz, children's theatre and Drama Company which was founded by Hutton Gosney in 2007.
It has expanded its business in around 14 countries which run fun and funky classes for children
from age 2 years to 18 years (Strom, Sears and Kelly, 2014). This is the innovative business
exclusively for kids and providing a platform for their overall development. Further this report
entails the new areas for further expansion of business and maintenance of existing performance of
business. Moreover current business plan is reviewed and recommendations for improvement are
provided. Furthermore, this report deals with change management techniques and measures to
implement the same. Financial performance of the business is compared and suggestions for further
improvement are provided. Thus, expanding the business operation requires different evaluation
needs to be improved so that business success can be attained.
TASK 1
1.1 Profile of the company
Particulars Description
Name of the business Razzamataz Theatre Schools
Owner Structure Private Limited Company and major shareholder is Ms Denise Gosney
owning more than 75% shares
History/ Background It was founded by Denise Hutton Gosney in 2000 and in 2007 e took it
to business programme conducted by BBC, Dragon's Den were investor
Duncan Bannatyne supported to launch company all over the country.
Its activity Inculcating social skills in youth and children with the help of dance,
drama and singing.
Business Location Registered office is in London but has expanded to 14 countries through
outlets. It offers training for all the performing arts including musical
theatre, dance and song, drama, improvisation and physical theatre.
Strengths and
Weaknesses
Strength - Serving the children worldwide in around 14 countries
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Weakness – Market and popularity is restricted to children and adults
are not attracted. Further school runs only on Fridays and Saturdays.
Along with this, the major weaknesses is that to the theatre have a
limited opening times.
Nature of business The Razzmatazz have a drama school in which they provide arts,
dancing skills and train on drama to the youth generation people in the
UK market.
Market It Operates its business in theatre industry
1.2 Ratio analysis of Financial Performance
Financial performance of the company can be adjudged on the basis of profitability and the
assets liabilities managed by it.
TWOS analysis
Strengths
Razzmatazz theatre strength is that it always
launch new product and services for its
customer.
It uses different promotional activity for
attracting customer
Weaknesses
Razzmatazz price of product and services is very
high.
It performance is not of high quality
Weaknesses
Razzmatazz price of product and services is very
high.
It performance is not of high quality
Threats
Razzmatazz is not had enough finance.
It not has highly skilled employee
Weakness of Razzmatazz theatre is that it have highly skilled employee as compared to the
City academy. On the other hand city academy company price of product and service is very low
while Razzmatazz theatre price of product is not high.
For comparing a financial performance of Razzmatazz Theatre with other company it is necessary
to make sure that financial statement have been audited (Strom, Sears and Kelly, 2014). Further it is
necessary to verify that number of reported are from the same accounting period such as January to
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