Business Plan for Empire Dance Academy: A Startup Project Analysis

This document presents a comprehensive business plan for Empire Dance Academy, a startup dance school located in London, UK. The plan outlines the academy's business overview, including its core services, aims, and required seed capital. It details the management structure, team skills, roles, and responsibilities, and identifies skill gaps. The market analysis includes target market description, competitive advantages, and market research findings, incorporating survey results. The marketing strategy covers the 4 Ps of marketing. The operations and logistics section addresses premises, equipment costs, legal requirements, and fixed monthly costs. Financial projections include a cash flow forecast for the next three years, showcasing sales, costs, and profitability. The plan aims to provide dance education and fitness through various dance styles, targeting a diverse customer base.

Empire Dance Academy
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Table of Contents:

Section One
Business Overview
1.1 Business summary: Please write business outline.
Empire dance academy is a start up dance school that includes different styles and forms of
dances. This academy is formed by Mr. X and he has information about different types of dance styles.
Empire dance academy is located in London, U.K and the motive of operating this dance academy is
to provide a dance studio and a supportive atmosphere to all those person who are interested in dance.
Empire dance academy is develop in order to profit a platform to dancer through which they can
enhance their skill and develop competencies. This dance academy consist of highly trained
professional teachers and instructor that have capability to train student of all age groups. This dance
academy is located in central market area of London so that it can attract maximum number of
customers.
1.2 Describe your core product or service:
This academy is providing different types of dance services to its customers (Finch, 2013). It
core products in dance studio where customers can learn various forms of dance styles such as
classical, western, hip hop, salsa, retro, rock and roll, Cuban and many more.
1.3 Your current and future business aims:
Current aim of this business is to create a dance studio and offer training to students for all
level of dancer such as from beginner to advance. This new established business and current aim will
help in attracting more customers as well as increasing awareness of dance studio in respective market
area.
Future Empire dance academy aim is to become the one of the best dance academy is market
which provide dance education along with the fitness exercise. This dance academy aim to provide
dance traning and education to different customer and be the first preference of customers.
1.4 Please state the amount of seed capital required: (Up to a maximum of £40,000)
Empire dance academy have 40000$ for the purpose of expending their organization area.
They invest 6000 in recruiting new workforce. They spent 20000 in purchasing new machines for
dancing classes. They expend their 9000 on advertisement and promotional expenses.

Section Two
Management structure.
2.1 Professional team skills: (Outline individual team members transferrable and professional
skills).
Team member in Empire dance academy have different set of skills. This business includes dance
teacher, market coordinator, customer coordinator and accounts associate (Jones, and Penaluna,
2013). Skills of market coordinator is planning and strategy making. Where as customer coordinator
has effective communication skills, dance instructor has dancing skills and account associate has
report making skills.
2.2 Each team member’s roles and responsibilities:
Role of team member are –
Dance instructor – This person is responsible for providing dance teaching and supporting students in
learning dance.
Market coordinator – It is role of market coordinator to attract more customers towards dance
academy.
Customer coordinator – Role and responsibility of customer coordinator is to communicate with
customer and resolve their queries.
Account associate – This person is responsible for manage accounts and financial resources of
Empire dance academy.
2.3. Identify your company’s skill gaps, then chose one role and create an advert with the skills
required and their roles and responsibilities.
This dance academy company is lacking in management skills (Wentzensen, and Wacholder, 2013).
This is essential skill for managing and controlling all activities of business. Skill gap of this dance

academy includes lack of coordination and management between teams. In order to full fill this skills
gap Empire dance academy needs Operation Manager who have effective management skills as well
as leadership skills. Role and responsibility of Operation Manager is to create and develop plan for
different employees as well as managing their performance. Manager is responsible for motivating its
employee so that they contribute more in accomplishment of business objective.

Section Three
The market
3.1 Describe your target market and where they are based:
This company is targeting customers who are based in London U.K as well as interested in
dance (Brinckmann and Kim, 2015.). It includes people of age above 5 years, young boys and girls,
ladies, men, corporate worker and disabled people. It is targeting all of those people who are interested
in dance or hobby as well as those who want keeps them self fit.
Five year plan of Empire dance academy for Empire dance academy are mention below.
In first year respective company will focus on attracting customers and creating awareness of company
in market area. In next year, Empire dance academy will work to earn more profits as well as develop
strong relationship with customers. Third year plan is to be more stable in market area in as aspect of
marketing, customer base and financial resources. In next year this company will work in order to gain
competitive advantage over other rival companies. In 5Th year Empire dance academy organisation will
work to become best dance academy is market area.
3.2 Describe your perceived competitive advantage/USP:
This dance academy has well trained dance who have capability to provide effective dance
training to others. Its employees and team member are consider as its competitive advantage. Different
types of dance forms or style is USP of Empire dance academy. The USP of this company is their
highly trained instructors who have information about different types of dance styles as well as
supportive in enhancing dancing skills of learner.

Section Four
Marketing
4.1 Explain your market research with references, Using Market research questions (straw poll or
Survey money etc.)
Questions
1. Why do you want to learn dance?
 Hobby
 Fitness
2. What style of dance you are interested in?
 Western
 Retro
 Hip Hop
 Other
3. Do you consider dance will lead to fitness of individual?
 Yes
 No
1. Why do you want to learn dance? Frequency
 Hobby 20
 Fitness 10

1 2
0
2
4
6
8
10
12
14
16
18
20
20
10
Series1
Series2
Interpretation – As per the data collection it has been determined that out of 30
respondents 20 want to learn dance because it is their hobby where as other 10
want to do this for fitness purpose.
2. What style of dance you are interested in? Frequency
 Western 6
 Retro 7
 Hip Hop 9
 Other 8
Interpretation – As per the data collection of survey it has been determined
that there are different dance styles that is offered by respective company.
according to this 6, 7 and 9 respondent are interested in western, retro and hip
hop dance style respectively. Where as other 8 are interested in other form of
dance style.
6
7
9
8
· Western
· Retro
· Hip Hop
· Other

3. Do you consider dance will lead to fitness
of individual?
Frequency
Yes 25
No 5
Yes No
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
25 5 Series1
Interpretation – It has been analysed that most of the respondent feel that
dance will lead to fitness. Out of 30 respondents 25 has responded positively
where as other 5 has responded negatively.

4.2 Competitor analysis
Strength Weakness
Varity of dance form with high quality teachers. This is a start up company and it has less brand image or
awareness in market area.
Opportunity Threat
Effective marketing methods is a opportunity for respective
business as it will help in creating awareness of services of
this company.
Other organisation or dance schools are its major rival
companies.
Dance classes SWOT analysis
Strength Weakness
This is well established company which has high brand
value.
This is not able to market its products and services in
effective manner.
Opportunity Threat
This company should use new and innovative technology
for marketing products and services.
This company has threat from new and creative approaches
of other companies.

4.3 Marketing strategy
The major 4 P’s that is essential for developing effective marketing strategy is mention below in detail.
Products – Products or services of Empire dance academy is different types of dance styles such as
salsa, western, Hip hop, Cuban, disco style and many more. These products are able to meet with the
needs of customers.
Price – Empire dance academy is offering its services on the basis of demand pricing. This business
has set different prices for different dance forms (De Oliveira . and De Oliveira, 2013). This helps in
gaining more profits and achieve goals.
Place – It is offering its services in Empire dance academy studio which is located in London market
area. Current it is offering it is services form dance studio of London.
Promotion – This company is conducting promotion through online and traditional marketing styles.
New paper, digital media, social networking sites and so on.

Section Five
Operations and logistics
5.1 Pre1mises:
Its pre1mises includes dance studio, teachers and other staff member.
5.2 Equipment& Set up Costs:
Statement showing equipment and setup cost
Dance services Activity Cost Total cost (for one
month)
Tango dance service
Equipments
Trainer cost
overhead
£15
£20
£15
£50
Samba dance service
Equipments
Trainer cost
overhead
£20
£10
£10
£40
Rumba dance service
Equipments
Trainer cost
overhead
£30
£20
£10
£60
Salsa dance service
Equipments
Trainer cost
overhead
£40
£25
£5
£70
Total £220
5.3 Transport needs:
There is no need of transportation in this business.
5.4 Legal requirements:
Partnership Agreement etc.
This company has partnership with different networks that is helpful in
showcasing dance talent to larger audience.

5.5 Insurance requirements:
Business Insurance includes insurance of dance academy or studio from fire and other event.
5.6 Other required Certifications:
In this licence of business and dance certificates of teacher is required.
5.7 Fixed monthly Costs as per cash flow:
Fixed monthly cost as per cash flow
Item Cost (For all dance services)
Salaries £10
Rent £20
Staff wages £05
Freight £15
Training cost £10
Promotion Expenses £20
Legal £10
Total £90

Section Six
Costs and pricing strategy
Dance services Cost
Cost per unit 310
Price per unit 510
Profit margin 200
Profit margin %
Profit/Price*100
39%
Mark up%
Profit/Cost *100
64.50%

Section Seven
Cash Flow forecasts
7.1 Realistic cash flow Sales and costs forecast, including next 3 years’ projections, assuming you’ve received the start-up fund’s
you’ve requested. (Please edit to suit your need)
Cash flow forecast of company
Cash flow is the net cash and cash equivalents exchanged into and out of a company. The potential of a corporation to produce capital for
investors at the most basic level is focused either on its capacity to deliver healthy cash flows or to increase free cash flow in the longer term. It is
prepared by investing, operating and financing activities under indirect method. In the aspect of above company, cash flow is presented in such manner:
Cash flow
Particular January Feb March April May June July August Sep Oct Nov Dec
Sales 7650 10200 12750 15300 20400 28050 20400 5100 7650 10200 12750 15300
No of
candidates 15 20 25 30 40 55 40 10 15 20 25 30
Revenues
per
candidates 510 510 510 510 510 510 510 510 510 510 510 510
Loan 15000
Total sales 23160 10710 13260 15810 20910 28560 20910 5610 8160 10710 13260 15810
Set up cost
(including
all
expenses) 3300 4400 5500 6600 8800 12100 8800 2200 3300 4400 5500 6600
Fixed cost
Salaries 10 10 10 10 10 10 10 10 10 10 10 10
Rent 20 20 20 20 20 20 20 20 20 20 20 20
Staff wages 5 5 5 5 5 5 5 5 5 5 5

Freight 15 15 15 15 15 15 15 15 15 15 15 15
Training
cost 10 10 10 10 10 10 10 10 10 10 10 10
Promotion
Expenses 20 20 20 20 20 20 20 20 20 20 20 20
Legal 10 10 10 10 10 10 10 10 10 10 10 10
Loan
repayment 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500 1500
Sub total 4890 5990 7090 8190 10390 13690 10390 3790 4890 5990 7085 8190
Profit 18270 4720 6170 7620 10520 14870 10520 1820 3270 4720 6175 7620
7.2 Notes to cash flow and projections:
On the basis of above cash flow this can be find out that companies net profit will raise significantly in upcoming time frame. This is so because of
expansion of operations and activities. Such as in month of January expected net profit is of 77070 which are expected to become of 171210 in end of
December. This shows that above dance academies’ net profitability is projected to become higher in upcoming time frame.
Conclusion:
From the above report it has been determined that in order to develop a business there are various elements that needs to be consider by owner.
SWOT analysis will help in analysing internal strength and weakness of business as well as evaluating opportunity and threat to business. 4 P’s of market
will help in taking better decision.

References/Bibliography
Finch, B., 2013. How to write a business plan (Vol. 35). Kogan Page Publishers.
Jones, C. and Penaluna, A., 2013. Moving beyond the business plan in enterprise education. Education+
Training, 55(8-9), pp.804-814.
Wentzensen, N. and Wacholder, S., 2013. From differences in means between cases and controls to risk
stratification: a business plan for biomarker development. Cancer discovery, 3(2), pp.148-157.
Brinckmann, J.A.N. and Kim, S.M., 2015. Why we plan: The impact of nascent entrepreneurs' cognitive
characteristics and human capital on business planning. Strategic Entrepreneurship Journal, 9(2), pp.153-
166.
Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business, strategy and
owner‐manager characteristics. Journal of small business and enterprise development.
De Oliveira, L.S., Shayani, R.A. and De Oliveira, M.A.G., 2013. Proposed business plan for energy
efficiency in Brazil. Energy Policy, 61, pp.523-531.
Gately, C. and Cunningham, J., 2014. The contributions and disconnections between writing a business
plan and the start-up process for incubator technology entrepreneurs, academic entrepreneurships creating
an entrepreneurial ecosystem. Adv Entrep, Firms Emerg Growth, 16, pp.197-240.

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