Enterprise and Entrepreneurship: Go Kart Driving School Business Plan

This report outlines a comprehensive business plan for a Go Kart driving school, covering key aspects of entrepreneurship. It begins with an introduction to entrepreneurship and the rationale behind the Go Kart driving school concept. The main body includes a detailed analysis of the proposed business, including its purpose, target customers (segmented into small, medium, and luxurious classes), and key competitors. A skills analysis identifies crucial skills like team building, communication, delegation, and financial management, necessary for the business's success. The report also provides projected financial statements, including a two-year profit and loss account and cash flow forecasts, alongside a break-even analysis. It explores potential funding sources, such as crowdfunding and personal investment, and outlines plans for obtaining both tangible and intangible resources. Furthermore, it specifies the type of organization (private limited company) and the required management information systems, alongside the company's vision. The report concludes with a summary of the key findings and references relevant academic sources.

Enterprise and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Purposed business ......................................................................................................................3
Customers....................................................................................................................................3
Competitors ................................................................................................................................4
Skills analysis .............................................................................................................................4
Communication...........................................................................................................................5
Delegation...................................................................................................................................5
Financial management................................................................................................................5
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including
break even ..................................................................................................................................5
2 year profit and loss account......................................................................................................6
Sources of funding to grow the business.....................................................................................6
Plans for obtaining resources, both tangible and intangible between now and either 1-2 year
ahead...........................................................................................................................................7
Type of organisation and the management information systems required to effectively control
the business ................................................................................................................................7
Vision for your Business Idea ....................................................................................................7
CONCLUSION ...............................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Entrepreneurship is that kind of act that has been creating an business with the motive of
earning profit and revenue generation. This is mainly about creating of business through various
elements that is presented within it. Such kind of venture has been helping in making new
business to be introduced within market. Scope of entrepreneurship is to help in making
contribution towards growth of economy and making innovative ideas to be introduced which
becomes benchmark in doing business. Nature is dynamic as it contributes towards making new
ideas to be introduced within market. The business that has to be presented is GO Kart driving
school. In this file things to be covered is based upon customers to be targetted, skills that is to
be used by entrepreneur and type of organization with management information system.
MAIN BODY
Purposed business
The business that has to be set up is Go Kart centre that is an driving school and is an
service based business through relevancy of services. This business offers opportunities to all
persons or individual in order to carry outdoor resources through rental go-kart. The motivation
behind the business idea is to make sure that learning driving becomes easy and fun. Also the
motivation behind the service base business is to make people attain sustainability with business.
This is very unique idea to make people learn driving with Go Kart. It can be protected through
using intellectual property right as it deals with copyright, trademark and patent (Ramsgaard,
2018).
Customers
Market is wider in scope and covers various segments within which customers are divide.
In order to set itself within market is required to target customers based upon services provided.
There are mainly three segments of customers that is small, medium and luxurious classes. Go
Kart business can divide its customers with the help of B2C. The term business-to-consumer that
is refer to as process for selling product and services directly within business and consumer that
uses services directly between a business and consumers as they are end user of product. Go Kart
is required to sell directly to its customers for this purpose B2B model is to be used by it. The
business has attain popularity due to this and makes directly services to be availed by its

customers. This also helps in targeting customers through both online and offline mode. This
model is going to help in enhancing of services by making it popular within market.
It is helpful for Go Kart to make itself attain popularity within market. Also being
innovative service based business it hold uniqueness that makes it separate form other business
providing services of same grade. It is based upon Go Karting that allows an individual to
enhance skills of driving in proper manner. The services cover various kinds of things like giving
customers experience of driving car. Also provide customer facility over applying for driving
license during there course. In this business main target is over young customers those are
interested in learning driving.
Competitors
Go Karting driving school is required to face various kinds of challenges form its
competitors like Britannia driving schools and smart drive UK. As all the competitors are well
established within the market and is going to give tough competition to GO Kart driving school.
Still Go kart hold various unique feature like making driving license within the salary that has
been paid. Providing experience to biggerner by making them drive rental Go Karts on separate
tracks rather then taking them directly on road. These feature are unique and helps business to
stay ahead of its competitors within market (Henry and Dana, 2019).
Skills analysis
Certain skills are there that has to be possessed by business in improving it. Certain skills
that is required to be improvised by Go Kart driving school and they are as follows:
Team building and team management: This helps in achieving of business goals within
appropriate time that has been set for it. These skills makes section of appropriate team and
members possible which helps in increasing of productivity of business. This skill is to be
improved by Go Kart in a way that coordination should be developed within the team by making
people achieve satisfaction of work in appropriate manner. Also it helps in enhancing quality of
classes. Team management in Go Kart helps in building of strong team that makes team to
enhance its performance with development of unity within working of team towards common
goal.

Communication
This is one of the most important skills that is required to be developed within business in
order to make important information to be circulated within organization that helsp in
completing task in better and more effective manner. Both business owners and managers should
be able to effectively communicate with employees, other managers, consumers and other
individuals involved in day-to-day business operations. Effective communication skills help Go
Kart in enhancing its advertisement policies, promotion strategies and also makes attraction of
customers possible. All this enhances over all growth of the company.
Delegation
Mangers of Go Kart should be able to make effective distribution of work to individuals
and making team dependent upon abilities in order to prevent strengths. An effective deligation
helps the organization like Go Kart yo make balance between freedom and responsibility.
Employees and teams should be given adequate freedom to accomplish tasks, but also the
responsibility and accountability of achieving desired results within deadlines(Drobyazko and et.
al., 2019).
Financial management
This is one of the most important skill that has to be developed within business as owner
of Go Kart effectively understand and manage the company’s financial needs. Financial
management skills include the ability to analyze the current market, understand investment
benefits and risks, timely and effectively budget and identify anything that is negatively
impacting the company’s bottom line. In addition to business owners, positions that may require
financial management skills include business analysts, accountants and bank employees.
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including break
even
2 years cash flow `
(Amount in £)
Particulars January February March April May June
Sales 4000 3500 4900 5800 6700 7000
Other income 1700 2500 2700 2850 2700 2000
Total inflows 5700 6000 7600 8650 9400 9000

Cash Outflows
Variable cost:
Materials 500 600 560 650 850 930
labour 300 300 230 200 270 940
Other variable cost 350 250 220 400 200 500
Fixed cost:
Rent 2000 1250 3000 1270 4000 1000
Salaries 300 700 900 1000 700 2000
Other fixed cost 300 300 400 450 460 900
Net cash flow 2600 2700 4300 2750 4760 3900
Particulars July August September October November December Total
Sales 10000 15000 20000 30000 25000 30000 140000
Other income 3345 4250 1400 3000 5000 700 45000
Total inflows 13345 19250 21400 33000 75000 30700 185000
Cash Outflows
2 year profit and loss account
Sources of funding to grow the business
Crowdfunding As A Funding Option: Crowd funding is one of the most affective and new
way of generating fund for a startup like Go Kart. It makes popularity to be attained within the

business. This can be done through loan, pre-order, contribution or investments from more than
one person at the same time (Nicholson and Lashley, 2016).
Personal investment: This is also an important source of generating fund that is going to help in
making business attain capital to be invested. As per this owner of the Go Kart is required to
make investment within the business that enhances and makes resources available on time.
Plans for obtaining resources, both tangible and intangible between now and either 1-2 year
ahead
Tangible and intangible resources: These are those kind of resources that is been used
within an organization like Go Kart to enhance its processes. In tangible resources machinery,
workforce and hardware can be used. In intangible resources software, goodwill and patents is to
be included within it. This can be obtain by using resource management which makes optimum
utilization of resources possible.
Type of organisation and the management information systems required to effectively control the
business
Go kart is an private Ltd company and should use digital marketing to make its business
generated more polarity and increase customers base for them also. Thus makes profit generation
possible (Liguori and et. al., 2019).
Vision for your Business Idea
The vision of Go Kart is to make driving experience more interesting through giving
them separate space to attain practice. This vision has also been set as an objective to be
achieved.
CONCLUSION
From the above discussion it is clear that entrepreneurship is that process which makes
new business idea to be promoted within an organization. Also in this file purpose of business,
targeting customers is been covered. Then in this cash flow and skill analysis is done which is
required by business. In the end type of organization and vision has been explained.

REFRENCES
Books and journals
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rural environments. The International Journal of Entrepreneurship and
Innovation. 18(1). pp.25-35.
Lyne, I., Ngin, C. and Santoyo-Rio, E., 2018. Understanding social enterprise, social
entrepreneurship and the social economy in rural Cambodia. Journal of Enterprising
Communities: People and Places in the Global Economy.
Ramsgaard, M.B., 2018. Experiential learning philosophies of enterprise and entrepreneurship
education. In Experiential Learning for Entrepreneurship (pp. 3-18). Palgrave
Macmillan, Cham.
Henry, E. and Dana, L.P., 2019. Māori Indigenous research: impacting social enterprise and
entrepreneurship. In A Research Agenda for Social Entrepreneurship. Edward Elgar
Publishing.
Drobyazko, S and et. al., 2019. Innovative entrepreneurship models in the management system
of enterprise competitiveness. Journal of Entrepreneurship Education. 22(4). pp.1-6.
Nicholson, L.A. and Lashley, J.G., 2016. A Historical Perspective on Enterprise and
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Liguori, E. and et. al., 2019. Under-researched domains in entrepreneurship and enterprise
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