A business plan is a written outline that acts as a guide in a business; whether a start-up or a business already operating. It is a very essential document regardless of the size and nature of the business. It contains the vision and mission statement of the business, goals and objectives, marketing strategies, strengths, and competitive advantages.
The business I would like to start is a school for training both bartenders and waiters. The business idea suits me because I am a teacher by profession and besides, I have good managerial skills that will assist me in managing my business. Moreover, I have a passion in teaching and training young people so that they can become important people in the future. So, I enjoy teaching very much and that is why I chose to start a school as my business choice. The business will be called ‘Windsor Kate School of Hospitality’.
Our mission is to develop young people with energetic and innovative minds to continue with the determination of pursuing careers in the hospitality industry by offering world-class education.
Goals and objectives
- To implement new tools that will make training effective.
- To have a successful school that offers world-class education to the students.
- To create an atmosphere that does not tolerate corruption so that only the qualified students are enrolled.
- To achieve maintainable competitive benefits.
- The ability of the school to eliminate products and services that are not effective, for instance, lazy teachers and naughty students.
- By 2012, the revenues should have increased by thirty-five percent.
- In every year, there should be an increment in the number of students by at least twenty percent.
- By the end of the first year, students’ satisfaction should be more than eighty percent.
- After deducting the expenses, the profits should have increased by at least ten percent by the end of the year.
How to market the school
I will target form four leavers who do not qualify to join the university. These are young and very energetic people whose minds are very active and thus can help my business to grow.
I will market my business by displaying posters all over so that people will get to know about a new school almost starting up. Use of posters is very effective and economical since little money is used thus reducing the expenses. Secondly, I will advertise the school using the television since young people watch it most of the time and thus may have an interest in the new school especially those determined to pursue a career in the hospitality industry. This is effective but a little bit costly when compared to the posters.
Strengths and core competencies
One of the strengths for the business is that the school will be able to employ reliable and efficient teachers who will offer good training to the students so that they fit in the world market, which is very competitive. Secondly, the school will have a well equipped practical room for training the bartenders on how to prepare various drinks such as cocktails. Moreover, excellent services will be offered by the school thus instilling confidence as well as improving the students’ skills that are required in the hospitality industry.
Factors that will lead to the success of the business
To start with, I will locate it in a very strategic location where people will not struggle to get it. In addition, I will make sure that it will be a few meters from town so that the students will not have to trek for long a long distance. Secondly, I will employ a competent staff that will work towards achieving the institution’s goals. Besides, I will make sure that both the teachers and students will be always motivated by rewarding good work so that everybody will work with a positive attitude.
I think the major competitive strengths for the business will be: use of advanced technology and equipment especially during the practical lessons; admitting qualified and well-behaved students; introducing foreign exchange programs; offering annual scholarships to few students from poor backgrounds and employing qualified and experienced teachers who have proper knowledge in the hospitality department.
From my background experience, the employees of any business are the ones who determine its success. This means that they should be treated properly and the employer should appreciate their good work always. In my business, I will make sure that my employees especially the teachers will be well reinforced to create motivation. Besides, I will ensure that students get the best education that will enable them to fit into the global market. Moreover, I will employ my managerial skills to run the school in the right way. Since I am a professional teacher, I will use my teaching skills to evaluate the best teachers. I am hardworking and very determined. So, it will be my duty to ensure that goals and objectives are achieved. Additionally, I am self-autonomous thus I will never allow any person to meddle with my business affairs.
However, a good business plan does not always guarantee success in a business but it helps in reducing the possibilities of failure. Basically, the goals and objectives for any business should be SMART, that is, specific, measurable, attainable, realistic, and timely.