Razzamataz Business Report: Performance, Challenges, and Strategies

This report presents a comprehensive analysis of Razzamataz, a small business enterprise specializing in dance, singing, and drama classes for children. It begins with a company profile, detailing its history, activities, and organizational structure. A comparative analysis of Razzamataz's financial performance against its competitor, City Academy, is provided, highlighting strengths and weaknesses in areas such as human resources, marketing, and technology. The report identifies key weaknesses of Razzamataz, including its limited geographical presence and lower sales volume, and suggests appropriate actions to overcome these challenges, such as expanding through franchising and adopting effective marketing strategies. Furthermore, the report outlines ways to strengthen the existing performance of Razzamataz by leveraging its experience, enhancing service quality, and organizing workshops. Finally, it discusses the impact of proposed changes on the business and provides an action plan for successful implementation, ultimately aiming to improve the overall performance of Razzamataz.

SMALL BUSINESS
ENTERPRISE

TABLE OF CONTENTS
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
1.1 Company profile....................................................................................................................3
1.2 Comparison of financial performance of firms......................................................................5
Task 2...............................................................................................................................................7
2.1 Appropriate actions to overcome the weaknesses.................................................................7
2.2 Ways through which existing performance can be strengthened...........................................8
2.3 new areas into which business can be expanded...................................................................8
Task 3...............................................................................................................................................9
3.1 Business objective and plan...................................................................................................9
3.2 Review existing business plan and necessary changes........................................................10
3.3 Action plan for implementing changes................................................................................11
Task 4.............................................................................................................................................11
4.1 Impact of changes on business.............................................................................................11
4.2 Plan for managing changes..................................................................................................12
4.3 Improvements in the performance of business....................................................................13
Conclusion.....................................................................................................................................15
References......................................................................................................................................16
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INTRODUCTION
Small businesses are privately owned firms which are having comparatively lower sales
volume. Such type of startup firms have great potential to grow in the UK market and they can
contribute well in the economic development of country. Present report is based on Razzamataz
which is a theater school that teaches dancing and singing to small kids. Cited firm was started in
the year 2000 and continuously working for improving skills, confidence and self-esteem level of
children. Assignment will discuss the profile of Razzamataz along with its strengths and
weaknesses (Mazzarol and Clark, 2016). Financial performance of organization will be
compared with City Academy School that is working in the same field. Study will provide
recommendations so that it can overcome from its weaknesses. Business objective and plan will
be assessed in this report. In addition to this, action plan will be prepared so that changes can be
implemented successfully. Furthermore, impact of proposed changes in the business operations
will be discussed in this assignment.
TASK 1
1.1 Company profile
Razzamataz is the dance company which teaches dancing, singing and drama to children
so that their confidence can build up.
Owner:
Founder of the cited firm was Denise Hutton-Gosney who established Dragons' Den in
the year 2000. He aimed to launch a theater school that must be “fun and funky” for small kids
who are below the age of 18 years (Marlow and McAdam, 2013). School runs only on Saturday
and Friday when it conducts one hour classes for singing, dancing and drama. Students are
divided into sub sections like 4-5 years of age, 6-8 years (juniors), 9-11 years (inters) and 12-18
years (senior group). Hutton-Gosney said that early learning and extra ordinary skills along with
confidence can help in enhancing the abilities of individuals that can support in career growth of
the person.
Owner structure
It is privately owned business and owner gives attention on the development of children.
History and background
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Founder of Razzamataz has started a theater school in the year of 2000 where MD and
founder of cited firm have appeared in the series of 4 and they received investment of 50000 for
25% equity share. In the year of 2010, owner of Razzamataz has opened 40 new branches and
cited firm has won the contracts of working with leisure brands such as Thomson and First
choice (Steingold, 2015). They have supported the theater school to expand its business into 14
new countries. Now, it has been established as the most trusted brand and thus, earning good
revenues every year.
Activity
Razzamataz dynamic dance and signing classes are designed for developing confidence
of children and for improving their health and fitness. It teaches drama, dancing and singing to
kids of 4 to 18 years. Generally, school runs on Friday and Saturday but in summer holidays, it
runs from Monday to Friday. Its activities help in learning many skills such as stretching,
improvisation, drama, singing, dance, etc (Koeberle-Schmid, Kenyon-Rouvinez and Poza, 2014).
Business location
Initially, it was started in the UK but later on, founder of Razzamataz has expanded his
business across the world. In the year 2010, 40 new branches were opened in the UK. Now, its
franchises are in Europe, Middle East and other British countries.
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Illustration 1: Razzamataz dance school
(Source: Razzamataz Theatre Schools, 2017)

Strengths and Weaknesses
Strengths
 Main strength of the cited firm is that it is highly experienced along with having high
knowledge and connection with other firms. As founder and teachers have good
knowledge about personality development, dancing and drama so, they guide children
well so that they can enhance their confidence and self- esteem. Specialists of PR,
marketing, child protection and social media are connected with the cited firm (Juma,
Kwesiga and Honig, 2016).
 It has good presence in media as it is connected with high profile media coverage such as
The Guardian, The Daily Mail, etc. It is associated with the leisure brand named Thomas that is another strength of theater
school.
Weaknesses
 It is working in the limited geographical area so, less number of people would know
about the Razzamataz theater school.
 Limited number of students (Cocker and et.al, 2013)
 Sales and profit of company is quite low as compared to other brands.
 Part time learning or only opens on Friday and Saturday.
1.2 Comparison of financial performance of firms
As Razzamataz is working in the entertainment industry so there is high competition.
There are many large organizations that are operating their business across the world. City
Academy group is working in the same field which is the biggest competitor of Razzamataz. The
comparison of both in terms of their financial performance is:
Razzamataz City Academy group
Human Resource: Razzamataz has recruited excellent
human resources who have good
knowledge about dancing, singing,
drama and personality development.
Human resource:
 Human resources of organization are
skilled and have enough capabilities.
But people do not pay attention on the
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They all utilize their skills well and
develop confidence and self-esteem in
children (Gallagher, 2015.).
objective of company.
Marketing: Marketing department of the cited firm
is working well due to which entity has
become able to spread its brand name
in the UK. Due to excellent marketing
activities, its revenues have been
increased to 30% as compared to the
previous year.
Marketing:
 City Academy group is the competitor
of Razzamataz. Its marketing activities
are excellent as well as the firm it is
having good command over social
media due to which it has expanded the
business globally (Aris and et.al, 2015).
Technologies: It spends high amount in using the
latest music system and others.
Organization uses all latest
technologies at the workplace so that
kids can improve their knowledge to a
great extent (Aris and et.al, 2015).
Technologies:
 It does not give focus on adopting the
latest equipment because it focuses on
reducing the cost.
Revenues: Cost per team of junior classes is 200
and Razzamataz is able to meet its
liability and to earn high profits. Cited
firm uses franchise system and media
for giving live performance. By these
marketing techniques, its sales revenues
have been increased to 20% from the
last year.
Revenues:
 Its revenues have been increased to
25% over the past few years (Dale,
2015).
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From the above comparison, it has been analyzed that both firms are working well but
media presence of City Academy is good as compared to Razzamataz. Revenues of cited firm is
higher than rivalry brand that is the reason it is expanding its school by opening new branches
and through giving franchise in other locations (Williams and Martinez, 2014).
TASK 2
2.1 Appropriate actions to overcome the weaknesses
It is essential to identify the weaknesses so that higher authorities can make proper
strategies to overcome these lacking areas. Razzamataz is performing well but due to some
issues, it is working as a small business enterprise. For the growth and development of business,
it is important to analyze the weaknesses and improve the same. One of the major weaknesses of
cited firm is that it is operating business in limited geographical area. Due to this, in the classes,
there are limited number of students (Seethamraju, 2015). To overcome this weakness, entity has
to invest a good amount in the expansion programs. It should give franchise in other locations so
that it can spread its operations globally. Franchise option will help in improving the brand name
of company and thus, number of students will get increase in the organization.
Lower sales volume is another weakness of the theater school due to which it is unable to
expand the business. As for expansion, Razzamataz will have to invest higher amount in research
and development that can increase the cost of company. To overcome from this lacking point,
cited firm has to focus on adopting marketing strategies (Mason and Harrison, 2015). With the
help of social and print media, cited firm will be able to make the brand name rich. Facebook and
Twitter are the social sites through which Razzamataz can make connection with large number of
audience. As structure and activities of the firm are good, it can attract parents and therefore,
they would feel that by enrolling their children in the institution, their confidence can be
developed. By this way, sales volume of company can get improved.
As Razzamataz teaches dance and drama on Saturday and Friday, it is the major
weakness of company (Williams and Martinez, 2014). It should hire more skilled human
resources so that cited firm can have capable and sufficient staff members. By this way, it would
be able to conduct classes in whole month. By implementing these suggestions, cited firm will be
able to overcome from its weaknesses and can increase its sales and revenues.
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2.2 Ways through which existing performance can be strengthened
To develop small sized business into a big organization, it is very important to convert
the weaknesses into company's strength and threats into opportunities. As strength of the
Razzamataz is that it has a lot of experience in the theater field, for maintaining the same, cited
firm needs to utilize this skill well (Lundy, Patterson and O'Neill, 2017). It should focus on
improving the quality and services while delivery knowledge to children. With the help of Razz
project intense, strength of organization can be maintained. It is the project which focuses on
commercial dance, signing and musical theater shows. By this way, Razzamataz will be able to
train its students well that would give career opportunities to the kids. This project focuses on
giving technical knowledge so that students will be technically sound and can perform in front of
large audience with confidence. It would help in building their confidence (Barrientos and
Reilly, 2016).
It has an effective media presence and thus, it should use the strength well. By
conducting workshops of singing, dancing, drama, etc. Cited firm will be able to increase the
number of students of theater school. This will help in making people aware with the brand name
of Razzmatazz in the country and in other regions too. As the aim of cited firm is to enhance
capabilities of students and build confidence among them, this is only possible when owner of
company would organize workshops. In this, kids will have to perform frequently that would
develop confidence among them and they will become positive towards the brand (de Jong,
2013). These workshops will help in gaining attention of other big brands that would help the
organization to get expanded.
It should conduct Razz Tots programs in the UK. It is the program that focuses on
developing the abilities of small kids who are in pre- school. In this program, children will learn
about the dance techniques as well as they will learn innovative forms of dance and signing. It
should develop relationship with parents of their children. By this way, they will give positive
feedback to others. It will help in improving the brand image of company. By these ways,
existing performance of Razzamataz can be maintained as well as strengthened (Aris and et.al,
2015).
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2.3 New areas into which business can be expanded
There is high competition in the entertainment field, but Razzamataz has good
opportunities to expand its business. By focusing on the research techniques, cited firm can
expand its business to a great extent. There are many dance forms which are not even heard by
the people. If theater school trains the kids well about new dance techniques then it will be able
to attract more students towards organization that would help in the expansion of company.
Research about new dance forms will help in increasing revenues and brand image (Hall and
Rusher, 2013).
By evaluating new projects or programs, Razzamataz can take benefits of higher profit.
For instance: conducting Razz Tots, Razz seniors and Razz projects intense are some programs
which can help in preparing the children for performing on stage. Razz senior project is the most
appropriate way of expansion of business. In this, management team of cited firm conducts
professional classes for the students who are above the age of 12 years so that they can get
training from highly talented and specialized teachers (About Us, 2017). Razz project intense is
another program which can be organized in the cited firm. With the help of this, new students
can get technical training and old students can get career opportunities.
By looking upon costing and funding finance, Razzamataz can expand its business. By
finding investors who can invest their money in the business, cited firm will be able to spend a
good amount for further development. Sufficient finance availability will help to meet its cost
and to earn good profits. It should keep the records of cash inflow and out flow as cash budget
will help in achieving its objectives in an effectual manner. By this way, entity will be able to
expand its business across the world (Razzamataz Theatre Schools, 2017).
TASK 3
3.1 Business objectives and plan
Razzamataz strongly focuses on developing confidence and potential of children so that
kids can get chance to come into spotlight. Apart from this, it concentrates on fitness and health
of children. Business objective of Razzamataz is to make partnership with large organization
which can give financial and non-financial support to the entity so that it can expand its
operations across the world (Aris and et.al, 2015). Art Award and universal pictures are two
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main firms that organizes workshops for commercial purpose. Cited firm has offered Art Award
for partnership that can help in boosting energy of students. It will make them technically sound
so that their confidence and self-esteem will increase (Aris and et.al, 2015).
Razzamataz believes that every child deserves a good life and so, its main objective and
plan is to give fun movements and knowledge to children so that they can feel happy. Theater
school time to time gives them advanced training so that they would enhance their skills. For the
development of confidence among them, cited firm organizes stage shows for them. Therefore,
kids perform in front of large audience and develop a sense of confidence (Seethamraju, 2015).
To increase revenues of the firm is another objective and business plan of Razzamataz. It
utilizes social media sites effectively so that it can make connection with maximum people. This
supports them in communicating with mass audience and to discuss its products with them.
Therefore, it assists in attracting more parents and they will send their children in the school.
Apart from this, it gives franchise in other locations that helps in achieving objective of
expansion of business in other geographical locations (Cocker and et.al, 2013).
3.2 Reviewing the existing business plan and necessary changes
As objective of Razzamataz is to give practical knowledge of entertainment industry to
its students, so for the same, it has offered Art Award for partnership. It is a good plan by which
cited firm will be able to develop skills of children. Partnership with such commercial entities
will support the firm in achieving goal of company. But partnership with companies of same
field is not enough for improving the skills of kids. Razzamataz should make connection with
some professional academies which can give technical training to students. This will enhance
their skills and confidence (Gallagher, 2015). It should make changes in its structure as well so
that students can get advanced knowledge about music, dance forms, drama, etc.
Objective of Razzamataz is to expand business in other geographical areas for which
cited firm will give option of franchise in other locations. It is a good way of expanding business
but currently, entity is only focusing on British country. Thus, it should give franchise in other
locations as well like; in India and China also (Aris and et.al, 2015). Both these countries are
famous for its traditional and cultural dance. In these regions, company has opportunities to
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grow. So, it needs to make changes in its franchise structure and chosen areas. By this way, cited
firm will be able to earn more profit (Dale, 2015).
For making connection with mass audience, Razzamataz is taking support of social
media. It is the most appropriate way of increasing number of customers in the organization.
Social media sites are good but it should also make changes in using formats of these sites. There
are many problems which have been asked by parents regarding program schedule, course
duration, fees, etc. Company needs to make changes in problem solving strategies. It should give
speedy answers with the use of social sites to parents. By this way, satisfaction level of
customers will get enhanced (Williams and Martinez, 2014).
3.3 Action plan for implementing changes
It is necessary to implement changes at the workplace so that desired objective can be
fulfilled. For implementing changes in Razzamataz, steps for action plan are as follows: Setting objectives: It is the first step in which cited firm needs to set its main objectives
which it wants to achieve. By deciding the goal, organization can make strategies of
achieving its target (Seethamraju, 2015). Evaluating current process: In the next phase in which Razzamataz needs to evaluate its
current performance and process, it will help the cited firm in knowing weaknesses so
that changes will be implemented in required places effectively. Market research: Cited firm has to research about other dance and musical forms so that
Razzamataz can adopt changes and implement the same at the workplace significantly. Performance measure: After that, organization needs to measure the performances of
each department so that it can identify that whether business is growing or not. It can be
measured by looking upon the children that whether they have improved or not as well as
if confidence has developed in them (Mason, and Harrison, 2015). Monitoring changes: After applying changes at the workplace, Razzamataz needs to
monitor it time to time. By this way, cited firm will be able to know that whether
modifications are giving positive results to the company or not.
 Feedback: At the last, it should take feedback from partners and parents by which
success of change plan can be determined by the cited firm easily.
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TASK 4
4.1 Impact of changes on business
Several changes can put their impact on the performance of business in both ways, that is,
negative and positive. These alterations can affect the performance of theater school to a great
extent.
Profit maximization: It is the positive impact of changes in Razzamataz. By making
partnership with same field and other big organization, cited firm will be able to grow well and
will be able to expand its operations effectively. This will ultimately enhance the profit of
company to a great extent (Barrientos and Reilly, 2016).
Global presence: With the use of social and media presence, Razzamataz can get
worldwide acknowledgment. One of the objectives of cited firm is to expand its business in other
regions also which is possible with the help of social medial presence. By this way, more
customers will get to know about this theater school and they will send their children there.
Apart from this, global presence is the positive impact and will attract other investors and thus,
they will invest their money for getting higher return.
Goodwill: By giving training about new technical dance forms and musical instruments,
cited firm can enhance their reputation in the market. Commercial stage shows and conducting
programs can assist in improving the goodwill of Razzamataz. Students will develop confidence
and they will get great opportunities to grow in the career after 18 years (Lundy, Patterson and
O'Neill, 2017).
On the other hand, changes can increase the cost of company as giving training about the
latest dance forms and technical equipment can enhance the cost of organization. Therefore,
revenues may get reduced if cited firm would not manage the cost well. It will be considered as a
negative impact of changes. Apart from this, children are very young and thus, they are not able
to learn such advanced technical forms which is also one of the negative impacts of same
(Williams and Martinez, 2014).
4.2 Plan for managing changes
It is necessary to manage changes effectively so that Razzamataz can get positive results.
For managing changes at the workplace, cited firm needs to take several actions:
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