La Trobe University: ACC3MAC Business Plan for My Space Club

This business plan outlines the concept for 'My Space Club,' a venture designed to cater to the physical and mental well-being of corporate employees in Australia. The plan details the club's vision, mission, and goals, emphasizing the provision of a space for sports, social interaction, and professional networking. It includes a comprehensive marketing strategy focusing on direct outreach to companies and employees, along with promotional tactics like early-bird discounts and quarterly tournaments. The financial section presents a detailed master budget, covering revenue streams from membership fees and donations, alongside expense projections for rent, equipment, salaries, and other operational costs. It also includes cost sheets, standard cost analysis, and reflective analysis of the business planning process. The plan is designed for ACC3MAC course at La Trobe University.

Running Head: BUSINESS PLAN 0
Performance Management and Control
Student Details:

BUSINESS PLAN 1
Contents
Introduction...............................................................................................................................3
BUSINESS PLAN....................................................................................................................3
Vision, Mission, and Goals.....................................................................................................3
Marketing..................................................................................................................................4
Financial Injections and Ejections.........................................................................................4
Reflective Analysis..................................................................................................................4
Conclusion................................................................................................................................5

BUSINESS PLAN 2
Introduction
The plan which is being worked one is to open a business for the corporate
people in the town. The service industry is very well growing in the Australian
market. The ratio of being opted by the students and youth in service sector is more
than they move into professional units or business venture (Business Venture
Definition: Everything You Need to Know, 2019). Working and earing are two
compulsory events to be performed in order to live in this world. The business plan
which is being planned is to open a club where only the people working in corporates
makes a move and play the sport in which they were a champion earlier (Jargons,
2018).
Business Plan
The plan opted will give a focus to the physical and mental development in
humans working at corporate culture (Kotler, Burton, Deans, Brown, & Armstrong,
2015). After the office hours, the workforce gets bored and needs some sort of
exposure towards physical fitness and boosting up the mental strength to work again
in a positive and energetic mood. The name of the club is “My Space – join, play and
revive” a hub spot for all the corporate serving people, and playing the sports like
cricket, badminton, tennis, chess, and others. This will be a partnership firm with five
members with the capital and fame of the partners.
This will enhance the chances of meeting the new experts of the same or
different fields from the different corporate world. The same sector can make growth
in themselves and diversified can be explored with each other’s support and
opinions. This will contribute to growth opportunities. The club also provides the
space on the floor to socialize without being getting into socializing fool into
electronic devices.
The business will allow only the corporate associates and the company
membership in the business to explore more into their own idea and all other
available factors in the organization. The corporates are well served with the
punctuality, discipline, professional and other relative factors. People also get to
know about the potential working and skills of a person and analysing themselves in

BUSINESS PLAN 3
order to explore the best way they can work. They get access to the modernization
and diversification of the companies they are operating in.
Vision, Mission, and Goals
The vision, mission and the goals of any organisation is the base for any
working industry (MacLeod, 2012). The vision for the club will be to provide the
associated members the physical and mental strength and giving them exposure for
growth opportunities.
The mission for the club is to serve them the best ambiance and motivation to
play the sport and being offline socialite at the space. And also to meet the dynamic
external needs of the members.
Goals for the club will be to associate to the maximum corporate workers, also
to provide the best physique in maintaining the lifestyles.
Marketing
The main aim is to acquire the corporate and office workforce as the members
of the club. They can be acquired by pitching directly to the office head and providing
the best services or to the employees in the company (McDaniel & Gates, 2013).
The club will be working on honest and delivering the best ambiance for play and
develop in the personal and physical context. The club will be pitching directly to the
companies head and in general terms to the employees. The discounts will be
provided to first 25 members of the club (Ward, 2016).
The club will be organizing the practice sessions and at the end of the quarter
the tournament among the various players in the club. During the quarter
tournaments, the club will be sponsored by various corporates and fame-seeking
companies. The word of mouth will be the core promotion strategy (McKeever,
2017). When a person personally makes a recommendation to others it is more
impactful and trusted (Trapp, Desai, & Buckley, 2011).
Financial Injections and Ejections
Funds are a major source for the working of the business. For every now and
then activity in the club or any other service or product industry, a person needs

BUSINESS PLAN 4
funds to spend and to arrange the required resources. The major options available
for the source of funds in the club can be the capitals bought in by the partners, the
loan from the bank by mortgaging the business plan and membership fees. It will
also include the donations if received in the operating days of the club. The major
outflow of the cash will be detailed in the tables below.
As per the records and related working in the financials of the club the profit
comes to the AUD 50,000. The master budget shows the budget for the annual
basis.
MASTER BUDGET
Particulars Amount($)
Revenue Generations
Membership Fees (6 Members) $ 60,000.00
Others(Donations) $ 25,000.00
Total Revenue $ 85,000.00
Expenses
Rent $ 18,500.00
Sports Equipment $ 460.00
Furniture and Fixtures $ 3,464.00
Salary and Wages $ 63.50
Electricity, Power and Gas $ 786.00
Ground Maintenance $ 1,230.00
Tools to repair the machines $ 1,200.00
Repair of the ground $ 4,500.00
Sand and others $ 780.00
Maintenance of the Ground, hall $ 56.00
Depreciation $ 158.00
Construction Cost $ 98.00
Lights and office expenses $ 564.00
Legal Expenses $ 983.00
Marketing and Advertising Expenses $ 1,023.00
Water Expenses $ 65.00
Research and Development $ 854.00
Total Expenses $ 34,784.50
Net Income from Operations $ 50,215.50
Notes: Sports Equipment will include

BUSINESS PLAN 5
Bats (4 Units) $ 84.00
Rackets (5 Units) $ 60.00
Tennis Balls (12 Units) $ 84.00
Volley Ball (2 Units) $ 28.00
Basket Ball (2 Units) $ 50.00
Soccer (2 Units) $ 46.00
Others $ 108.00
Furniture and Fixtures will include
Air Conditioner (3 Units) $ 2,949.00
Net (3 Units) $ 261.00
Grass Trimmer (2 Units) $ 130.00
Office Chairs and Tables $ 124.00
Salary and Wages includes
Salary to Manager (2 Managers) $ 21.00
Wages (5 Staff Members) $ 42.50
The document analysis the differentiated types of cost under the cost sheet.
The underwritten the cost sheet represents the Prime Cost, Work Cost, and Cost of
Production as when the analysis of the Cost Sheet of My Space Club is done. The
prime cost comes out to be around AUD 7200, the work cost is AUD 7800, and cost
of production is AUD 9700.
Cost Sheet
Particulars Amount($)
Direct Labour $ 42.50
Direct Expenses $ 312.00
Prime Cost $ 7,294.50
Add: Overhead Cost $ 564.00
Overhead/ Work Cost $ 7,858.50
Add: Administration Cost $ 1,837.00
Cost of Production $ 2,755.50
Notes:
Direct Labour will include
Wages to day labour $ 42.50
Direct Expenses will include
Maintenance of the Ground, hall $ 56.00

BUSINESS PLAN 6
Depreciation $ 158.00
Construction Cost $ 98.00
Overhead Cost will include
Lights and Office expenses $ 564.00
Administration Cost will include
Legal Expenses $ 983.00
Research and Development $ 854.00
The derivation of the Standard Cost is being analysed via adding the two, Direct
labour, Overhead. The required per unit cost will be dividing them by the number of
services allocated to it.
Standard Cost = Direct Labour + Work Cost
No of Members
Standard Cost (per Member) $ 94.50
The below image shows the allocation of the cost to the games provided in the club.
Activitycost pool Cost Driver
EstimatedIndirect costs
($)
Total
expected
quantityof
cost drivers
Allocationrate
($/unit of cost
driver)
Use of
cost
driver
Allocated
costs ($)
Use of
cost
driver
Allocated
costs ($)
Use of
cost
driver
Allocated
costs ($)
Direct Labour
onthe basis of
workinghours $ 42.50 5 $ 8.50 3 $ 25.50 1 $ 8.50 1 $ 8.50
Direct Expenses propotionate basis $ 312.00 57 $ 5.47 47 $ 257.26 4 $ 21.89 6 $ 32.84
OverheadCost
onthe basis of
workinghours $ 564.00 50 $ 11.28 39 $ 439.92 6 $ 67.68 5 $ 56.40
AdministrationCost equal basis $ 1,837.00 36 $ 47.00 24 $ 1,128.00 10 $ 470.00 2 $ 94.00
Total costs $ 1,850.68 $ 568.07 $ 191.74
Sales $ 39,000.00 $ 35,000.00 $ 9,000.00
$ 26,000.00 $ 23,333.33 $ 6,000.00
Gross Profit $ 13,000.00 $ 11,666.67 $ 3,000.00
Sales $ 39,000.00 $ 35,000.00 $ 9,000.00
$ 26,000.00 $ 23,333.33 $ 6,000.00
$ 1,850.68 $ 568.07 $ 191.74
Net Profit $ 11,149.32 $ 11,098.59 $ 2,808.26
Tennis
Cost of sales =Total Sales / 150*100(Mark Up=50%)
Customer Profitability usingABC
Cost of sales =Total Sales / 150*100(Mark Up=50%)
AllocatedCosts
MySpaceClub Cricket Badmintion
Source: Excel Sheet
Reflective Analysis
During the analysing and choosing the best available business concept in this
corporate growing sector in Australia was quite challenging (Nakatani, 2018). Opting
for the service which would be running and profitable in the current challenging
environment, but after the practical research in the market and online surfing also

BUSINESS PLAN 7
helped to implement the idea of opening this club. While preparing the budget the
various issues regarding the segregation of the identified expenses in their
respective heads under cost sheet. The dispute was in relation to the allocation of
the relevant amount to the proposed expense or accounts. With reference to the
class notes, class lectures and using the internet sources, I coped up with the
challenges and disputes.
Conclusion
A business plan is a theoretical representation of a business which is to be
followed in the near future. The club opened is all associated with the corporate
workforce only. After observing the working pattern of the people, they are busy and
completely exhausted after the long office hours. They don’t even get time to be
healthy on the part they should be focused. They are affected with the health
problems, like obesity, laziness, same old schedule and back to office life. This club
will associate them to connect with the new people with same or different opinions
and have growth opportunities, along with the diversified sports and games
availability. This club is opened with the long run motive in the market.

BUSINESS PLAN 8
Bibliography
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satisfaction.html
Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. AU:
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MacLeod, L. (2012). Making SMART goals smarter. Physician executive, 38(2), 68-72.
McDaniel, C., & Gates, R. (2013). Marketing research. Singapore.
McKeever, M. (2017). How to Write a Business Plan (13 ed.). California: Nolo. Retrieved
August 27, 2019
Nakatani, Y. (2018). EXPLORING GOALS FOR BUSINESS WRITING STRATEGY
TRAINING.
Trapp, R., Desai, S., & Buckley, G. (2011). In What You Need to Know about Business.
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Ward, J. (2016). Ward, J. (2016). Keeping the family business healthy: How to plan for
continuing growth, profitability, and family leadership. Berlin: Springer.