Swing Dance Business Plan

This assignment requires a comprehensive analysis of the United Kingdom's swing dance market. Students are tasked with developing a business plan for a hypothetical swing dance company, incorporating elements like target audience identification, competitive analysis, marketing strategies, operational planning, financial projections, and risk assessment. The goal is to demonstrate an understanding of market dynamics within the niche dance industry and the practical steps needed to launch a successful business.

SMALL BUSINESS
ENTERPRISE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
a) Profile of small-business-enterprises from dragon den BBC.............................................1
b) Comparison of cited business and its rival's performance.................................................2
TASK 2............................................................................................................................................3
2.1 Suggestions of appropriate actions to overcome the weaknesses....................................3
2.2 Analysis of ways to maintain existing business performance.........................................4
2.3 Recommendation for expansion of business in new areas...............................................5
TASK 3............................................................................................................................................6
3.1 Analysis of objectives and plans of existing business......................................................6
3.2 Revision of Business plan for application of appropriate changes...................................7
3.3 Preparation of plan to adopt the amendments..................................................................8
TASK 4............................................................................................................................................8
4.1 Impact of changes on the selected business entity...........................................................8
4.2 Plan for management of changes......................................................................................9
4.3 Improvements in the performance of business over past two years...............................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Within every country, there are many small business enterprises or firms have been
established by the people and also achieved a sustainable growth by making innovative and
creative changes in their products. These small business enterprises are considered as firms
which are operating at small scale within organization and want to achieve more investments
from market to expand there business operations (Gorgievski, Ascalon and Stephan, 2011). In
this context, analysis of Swing patrol is done which is small business enterprise which has
established its business operations by taking investments from the venture capitalist in dragon
den group. There exist yet other criteria to fulfill the norms of Small to medium size business
entities also termed an SME where they must possess less than £25m turnover with minimum
£12.5m gross assets. Present report has also outlines some constitutional formation of small
business enterprise by taking comparative analysis between firms. Further, an action plan has
also been discussed to implement the chnages which are needed to expand the business
operations.
TASK 1
a) Profile of small-business-enterprises from dragon den BBC.
Small business enterprises are mainly consists of operations within domestic country
where they have been started by the people or entrepreneurs with an aim of maximizing profits
and increasing the contribution towards GDP of country (Williams and Schaefer, 2013). In
present context, a profile of small scale organisation is identified which has been started from the
investment from venture capitalist in dragon den.
 Name of business: Swing Patrol UK Ltd
 Description: Swing events, classes and corporate entertainment
 History and background : From the research, it is analysed that Swing patrol. UK LTD
is active company which was incorporated on 9 September in the year 2008 (Swing
Patrol UK Limited , 2017). It also has a registered office in London and it has been
regulating its business from 9 year. Presently it consists of 2 directors and 0 Active
secretaries. Analysed in the category of small medium enterprise as it has less than 10
permanent employees and turnover of less than £2 million. It is basically a dance institute
which is being started by the two famous dancer Cam and Laura who both an experience
of past years 20 years. Presently they have 35 avenues across London and Brighton. It
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has started the classes with an vision of being a number one dancing institute or
enterprise in UK and also to provide information about different old dancing styles.
 Venue: 9-11 Folgate St, Spitalfields, London, E1 6BX United Kingdom
Further, there are some strength and weaknesses of organisation has also been analysed in
order to provide understanding of their market situation.
Strengths :
 Strong market reputation
 Highly skilled and experience dance troupe (Al-Dajani and Marlow, 2010.).
 Strong financial position
 Collaboration with other institutes in different cities.
 Major presence in domestic country.
Weaknesses:
 Their presence in limited across UK.
 Turnover of less than £2 million.
 Mainly they are experienced in their old dancing styles.
 Lack of recognition in other countries.
 Many competitors in market.
 High pricing
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Illustration 1: Swing patrol logo
(Source :Swing Patrol UK Limited , 2017)

 Rise in employee turnover.
b) Comparison of cited business and its rival's performance.
Comparison with similar-sized businesses in same geographical area:
The cited firm, Swing Patrol UK Ltd is doing well in the existing location. The newly
incorporated entity is even having wider roots than most of other organisations in same
geographical area (Stokes, Wilson, and Wilson, 2010). However, it should be recognised that
there exists some firms in the nearby locations which are doing really impelling as compared to
the selected one. Some of them are Chess, MVF, First Response Finance, etc. All these belongs
to different sector but in same location. The chosen firm is thus advised to learn strategies of
attracting large customer figure from them. It is because due to same location, customers and
their perception will be same.
Businesses in same or similar industry:
As the selected organisation is a small scale company and incorporated newly, thus there
are no major rivals. Also, the organisation is based on a start-up idea thus, rival from the same
business structure are very low. The concept of the company is further different from others
which will help in gaining competitive advantages. However, there exist similar businesses
which may threaten the business of the Swing patrol (Bridgeand O'Neill, 2012). Other small-
medium enterprise Pure Gym belonging from health and fitness is doing great in terms of
business. Fitness is a major rationale based on which people joins dance classes thus, the selected
entity has competition from the health & fitness sector. In addition to this, there are various
companies that are having specialisation in the field. These firms can harm the overall
performance of Swing Patrol Ltd.
Industry Averages:
In context with the dance industry, it has been observed that in UK around 22% people
go to see ballet dance performance or an opera annually. In regards with employment, there are
about 6000 people in the country engaged in this sector (Statista, 2017). Further, public has
invested around 178.3 million pounds on dance and other theatre event as per the data of 2016. It
is earned by recording presence of 8.1 million people. Moreover, as per the classes it has been
observed that around 18% males are taking dance or fitness classes whereas the data for female
is 22%.
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TASK 2
2.1 Suggestions of appropriate actions to overcome the weaknesses.
In competitive business environment, it is essential for every business enterprise to
overcome its business problems and weaknesses in order to achieve success in business
operations and achievement of more growth and sustainability as compared to competitors. In the
present context, analysis of swing patrol has provided an understanding that it is small-business-
organization which has achieved a major growth in its business operations and also has
objectives of expansion of business operations across various countries (Nga and
Shamuganathan, 2010). Moreover, in order to expand its business operations and achievement of
objectives it is essentials for organisation to overcome its weaknesses and problems which they
have faced in previous business operations. There are some appropriate actions are mentioned
below:
 Strategy formulation: It is most important action which clearly defines that organisation
needs to develop effective strategies through effective research and analysing the reasons
behind weaknesses (Forsman, 2011). In Swing patrol, the directors needs to identify the
reasons and develops strategic plans through which company will be able to overcome its
weaknesses. For example: to reduce impact of pricing, the company will develop new
strategy and also takes ideas from employees to reduce the prices.
 Employee satisfaction: To resolve the problem of labour turnover, the company needs to
create and apply the strategies through which they will be able to provide satisfaction to
its employees (Ciampi and Gordini, 2013). For example: Swing patrol can also apply
strategies like increasing pay scale, rewards, benefits, recognition and promotion.
 Competitors analysis: It is also considered as most significant actions through which
will be able to reduce the impact of competitors on business operations. In this, Swing
patrol needs to analyse the strategies of its competitors in industry through which they
have been able to achieve the competencies to sustain in market and also be able to
develop strategy to differentiate its services in market.
 Effective marketing strategies: From the effective research, it has been analysed that
organisation needs to apply effective market strategies in order to increase its recognition
between the people across countries (Barth, Lin and Yost, 2011). Through this cited
organization will be able increased its operations and also achieve recognition of target
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audience. For example: Swing patrol can use various digital media communication like
social media, blogs, digital advertisement and pay per click advertisement etc. to increase
its presence among the people and also provides information about various different
services.
2.2 Analysis of ways to maintain existing business performance.
For the expansion of business operations, it is essential for every business organization
like Swing patrol to maintain its business presence and appropriate position in market. From
analysis, it has been recognised that company has achieved sustainable growth and development
which has supported them in expansion of units within UK (Abebe, 2014). Further, there
objectives is to expand business operations in other countries for which they have to maintain
there current strategic position in market. There are effective measures have been discussed
through which the company will be able to maintain its existing business performance such as:
 Implementation of innovation: It is mainly analysed as most effective way which refers
to the creation and introduction of some unique changes in business operations and
services which are provided by firm. These major improvements will enable the firm to
attract its target audience and also to influence other people in country (Hilmersson,
2014.). In present case, Swing patrol is brand which offers various products and services
to there customers like corporate entertainments, workshops, dancing classes and other
services etc. To enhance strength like financial position, brand recognition, increase in
turnover, etc. it essential for Swing patrol make effective changes and also apply various
innovative practices to change their dancing styles for attracting the people.
 Increase in marketing: With application and utilization of new marketing
communication channels like Social media, media relations, direct mails and digital
advertisement Swing patrol has its maintain its presence in market through which they
have become competent to increase there performance and financial position as compared
to rivals.
 Hiring of qualified employees: Employee are also considered as partners by small
business enterprises like Swing patrol as they provide them major support in increasing
business operations and implementation of effective innovation in business practices. By
hiring qualified employee at workplace, Swing patrol will be able to improve its business
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performance as the employees will provide new and innovative ideas to make its
products and services more unique for consumers.
2.3 Recommendation for expansion of business in new areas.
As per the above analysis, it is analysed that Swing patrol has its major operations and
presence in Europe by which they have achieved major sustainable growth and recognition of
customers in market. Further, there are some important areas in which the company can also its
business operations which are suggested below:
 Entering in to new market: from the effective research practices, it has been analysed
that Swing patrol also has its existing other business sector like retail products. For the
continuous expansion of business company can also make its relationship and
collaboration with retail fashion brands and maximize more probability.
 Global market: It is considered as most significant opportunity for small business firms
to raise their business operations and practices. It has been recognized that expansion in
global requires wide research to analyse the factors which can impact the business. In this
context, Swing patrol can also increase its business operations by enhancing its service
like organizing events, function s and corporate events for the people in other countries.
This will increase there brand reputation in market also enable to achieve its business
objectives (Duberley and Carrigan, 2013). It is considered as valid as firm will also get
support of government fort expansion and financial resources at low rate of interest.
 Merger and acquisition: Both of these terms has there major significance as it provide
ability to firm for achievement of sustainable growth and survival in market. In present
scenario, Swing patrol can also expand its business operation with an aim to maximize
the profits and reducing the impact of competitors in market. Continuous economic
development of country and support of government to small business firms has provided
the great opportunities for expansion of start-ups and also provided suggestion to existing
companies for making collaboration to workers.
Thus, it is valid justification as these small business enterprises have provided major
contribution to GDP of UK and also provide growth to people of country. Through expansions of
business they will be able to generate more opportunities of employment for people.
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TASK 3
3.1 Analysis of objectives and plans of existing business.
Objectives of every business enterprise will define its needs which they want to achieve
in particular time frame. It is essential for business to develop some specific objectives so that it
can get appropriate direction in which all actions and efforts can be directed. The assessment of
existing business plan and objectives of Swing patrol are mentioned below:
Business objective 1: To increase the sales and promotion of business operations.
From the effective research, it is analysed that Swing patrol has provided major significance
towards expansion of its sale of services to increase the profitability (Teece, 2010). By making
innovation in services like organization global level events and functions, dance schools and
fitness clubs etc. company can increase its profitability and also bale to promote its business
operations in other countries through various communication channels.
Business objectives 2: To increase the retention of qualified employees.
For the expansion of business, company also needs to retain its qualified employees at workplace
which provide them support in making improvement, getting more customers and also increasing
the brand reputation in market (Barber, Metcalfe and Porteous, 2016). In this respect, all the
problems that are faced by workers must be identified and appropriate measures like monetary
and non- monetary benefits, hearing problems, concerning the rights, appropriate working hours
etc. It will reduce the cost of hiring new employees and providing them training at workplace.
Business objective 3: To attain more investments:
It is also main objective of firm as it has faced various problems in expansion of business
because of having the turnover less than £2 million. In this scenario, as a small business
enterprise in UK management of Swing patrol have focus towards to achieve sufficient among of
funds from various sources. Like financial institutions, investors etc. From research, it is
identified that government is also focused towards providing growth to small firms and provided
a financial support of £11.4 billion every year. So, it is effective plan of firm to achieve the funds
and increase its business operations.
3.2 Revision of Business plan for application of appropriate changes.
As per the given scenario, there are some major change have been identified that Swing
patrol can apply in its business operations to improve its service and expansion in other areas.
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 Change in market segments: This is considered as most important change that
organisation needs to be done in order to attract more customers towards the organization
(Smit and Watkins, 2012). In this company needs to make a plan in which they will target
new market segments like business class, creating events function for corporate firms and
high class people so that it will achieve more profits in short durations. Through this
market segments, the company will be able to increase its focus towards achievement of
objectives of sales expansion and promotion.
 Innovation: After changing the market segments, there is also need to make changes in
products line which includes analysing wide variety of products that are available in other
countries. By making changes in business operations like introduction of new business
segments, merger and acquisition with event companies etc. they will be able to achieve
their objectives. Swing patrol can also focus on changing its dance styles and introducing
new styles that influence the students to learn. It is considered as innovation which
provides major focus on achievement of organisational goal.
3.3 Preparation of plan to adopt the amendments
In order to implement the above mentioned changes, there is also a need of an action plan
that provides clear steps and direction through which Swing patrol will successfully meet the
changes. In this scenario, appropriate action plan for company has been developed through to
implement the changes which is mentioned above:
Step 1 Identification of task
In this step, the company has to identify the necessary tasks regarding changes. Here, a
market research has to be conducted for analysing present status of organisation (Audretsch and
Link, 2012). This shall further help in developing effective marketing plan. Furthermore, a deep
routed market analysis has to be conducted for improvising on objectives.
Step2 Analysing and delegation
As per the analysis, the task which are designed and developed at first stage must be
evaluated at present stage (Obeng and Blundel, 2015). Most important component of this action
plan is delegation i.e. communication of respective tasks to the people who are involved with the
execution of action plan. It helps in managing changes effectively.
Step 3: Double checking or evaluation
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Comprehensiveness of the action plan has to be evaluated for understanding future
benefits and advantages which company will experience when concerned changes are
implemented. Moreover, resources and skills those are required in this action plan are also
evaluated at this stage.
TASK 4
4.1 Impact of changes on the selected business entity.
From the changes that are mentioned above, the entity will observe both positive and
negative impacts. Firstly, the increment in the market segments will allow Swing Patrol Ltd. to
cover a large customer figure (Blackburn, Hart, and Wainwright, 2013). This in turn will raise
the company sales and henceforth, profitability of the firm will improve. Further, increment in
the market segmentation by merging with other health and fitness hubs will help the firm in
gaining a good brand recognition. In addition to this, it has been observed that the introduction of
new dance forms in the business will help in accessing increased consumers. This is due to the
fact that interests of person do differ and hence, by adding new dance forms, Swing Patrol will
be able to welcome more buyers. In contrary to this, its should be noted that all these operations
that are adding new dance forms, training to employees regarding this, market enhancements,
etc. will cause addition cost resulting in increased expenses and reduced net profit (Stokes,
Wilson, and Wilson, 2010).
4.2 Plan for management of changes.
After implementing the above mentioned changes, it is necessary to mange these changes
effectively. This can be attained by introducing a impelling change management plan for the
cited changes that are to be made (Burrows, 2015). For both the suggested changes, the
management plan is as follows:
 Data gathering and analysis: In this step of change management, the relevant
information will be gathered, In present context, the data on the change and innovation
will be gathered. For this, the most liked dance form by the general public will be
analysed and then they will be introduced in the cited firm (Malhotra and Temponi,
2010)
 Forming effective coalition: In present context, as the entity is planning to increase
customer segments thus, merging with a health and fitness firm or Gym will be a good
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option to opt out. Also, for the innovation factors Swing patrol can merge with other
dance groups that teaches different dance form.
 Creating visions: For effective results, organisations are required to set some impelling
and realistic visions that can be attained in a stipulated time frame. Swing Patrol should
set a vision of enhancing customer size by at least 1000 through both the changes.
 Communication: For getting things done right and in appropriate manner it is necessary
to communicate them will with the employees another people who are directly associated
with the business. Swing Patrol is demanded to interact wit the trainers about the new
dance forms which they are interested to involve (Down, 2010).
 Empowering employees: In order to achieve work productivity, it is necessary that the
employees of the firm are motivated. There exist various motivational tools that Swing
Patrol can use to increase the dedication level of employee towards their work role.
 Creating short-term wins: Work segregation is regarded as an effective tool that
increase effectiveness of the task. The selected entity should set short-term goals along
with deadline. This will help in getting things done along with managed time.
 Holding gains and anchoring changes in business: By applying and implementing the
above mentioned in the business operations, the entity can gain the desire changes. Now,
Swing Patrol is suggested to hook these changes (Ackermann and Audretsch, 2013).
4.3 Improvements in the performance of business over past two years.
With the effective strategies that are framed before two years and implemented in the
business operations, the entity received a good brand recognition. There are various
modifications done in the policies for both the employee and customers that helped in increasing
the business value of Swing Patrol Ltd. The performance of the selected entity is raised after the
expansion of market place. They are now opened at numerous locations from where customers
can easily avail the dance services provided by them. It helped in gathering a large customer
figure and boosted the profitability of the firm. People can also hire the dancers of the entity for
events, etc. (Fassin, Van Rossem and Buelens, 2011). Also, Swing train introduced by the
company for healthy lifestyle has increased attention of large number of health-conscious people.
It has been found that after this, the sales of the company have been increased and thus,
profitability.
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Further, it has been observed that the organisation has also started an event for 'learning
dance in a day". This addition is proved as the most fruitful in increasing business value. The
community has been raised to over 1000 dancers with a passionate teaching team. The
workshops, regular socials, large balls, festivals,m etc. organised by the selected company
gathers people from around the world. Besides this, it has been observed that the idea of
investing in retail sector has helped in achieving a strong brand recognition. The sphere of
customers has been raised after this. This through of product development has strengthened the
market roots and improved the overall financial performance of Swing Patrol Ltd. (Gill and
Biger, 2012). Thus, in this way the past two years of the entity were proved as effective in terms
of business performance.
CONCLUSION
In present report, it has been concluded that small business enterprise plays an important
role in providing growth to the economy of country. It is also analysed that these business
enterprises always apply new and unique changes in its business operations to improve its
practices. Analysis of case study has provided an understanding that dragon den is most
successful group of venture capitalists which provide investments to small business enterprises
like Swing patrol to start their business operations, Further, company profile which was
developed has provided an understanding that organization has major strengths that provide
major support in achievement of profits and expansion of business. But is it also essential for
firm to overcome its weakness. Analysis of various firm’s operations has determined that it is
essential for firms apply appropriate business plan within the firm to achieve the objectives and
accomplish the mission.
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