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Business plan

Name(s) of the owner(s):Abhinay Parab, Aditya Sawant, Tushar Shinde, Vaibhav Joshi, Rohan

Jain , Vishwanath B

Name of the business/venture: Dance-beat Academy

Address: Chembur,Mumbai-400 074.

Phone Numbers: 998 782 8626

E-mail address: dancebeatacademy@gmail.com

Statement of purpose:

Dance-beat academy is a start up of dance school wherein various forms of dance levels structured for

people of different age groups. Our USP is to provide training to the disabled people too. The

academy is privately owned by Miss. Poonam Gurung.

The total capital required for the start up is 1,20,000 in of which 35% i.e. 50,000 is by the owner and

remaining 65% i.e. 78,000 is by the bank.

Table of Contents:

Serial number Particular Page no.

1 Description of the

business

2

2 Financial Data 5

3 The Market 7

4 Location 10

5 Management 11

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Description of what the business does

Objectives

The following are goals and objectives of Dance-beat academy for Year 1 through Year 3 :

Create a dance academy with a warm, supportive atmosphere, which is based on satisfying

customers.

Provide a social and entertainment forum for people with diverse interests, backgrounds and

ages.

Provide dance training for students at all levels of dance, from beginner to advance.

To combine the dance with fitness and isolation exercises.

Provide continual training, benefits and incentives for staff to encourage a long-term

commitment of employees.

Vision

The whole world should feel the magic of dance.

Everyone should get with the beat.

We want to dance all the time.

We want to dance everywhere.

Mission

To create an entertainment and community education.

To offer a unique and appealing entertainment for all customers.

It will provide excellent opportunity for social interaction with dancing and special

events.

It will provide an excellent opportunity for the people who want to take dance as their

career.

To provide dance education to all people by mixing it with fitness exercise and in other

modes.

Dance industry overview

The dance industry in India is increasingly vibrant with various dance groups representing

different races and cultures performing in a wide variety of genres.

India has a very rich tradition of classical and non-classical dance. The Natya Shastra, which

is the oldest surviving text on stagecraft in the world, spends a considerable time discussing it. In the

old days of the theatre, the dancers would mime the story while the singers would sing the dialogue.

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The instrumentalists would accompany them all. The nature of the old theatre was such that the

dancers occupied a central position.

For many centuries the dancers were attached to the temples. This maintained a strong

religious flavor to dance. Even today many of the traditional themes are mythological in nature.

Over the centuries different areas have given their own color to the ancient classical

tradition. Today the acknowledged classical styles are: Bharatnatyam of Tamil Nadu, Kathakali of

Kerala, Kuchipudi of Andhra Pradesh, Manipuri of Northeast India, Orissi from Orissa,

and Kathak from north India and Pakistan. Each of these styles has a strong regional connection and

none can claim to be representative of the entire Indian subcontinent.

Not every dance in India strives for the status of being "classical"; it also has a very rich

tradition of non-classical dances.

Probably the most well known of the non-classical Indian dance forms is the Bollywood

dance. Although strictly speaking the term Bollywood be only be applied to the arts that are

connected with the Bombay (Mumbai) film industry, all of the modern filmy dances from anywhere in

India are often referred to under this term.

India also has a very rich tradition of folk and tribal dances as well. The variety and richness

of such forms nearly defies description.

The creative industries are recognized as playing a crucial role for our post-industrial

economic well being. Dance plays a central role here, especially as a unique way of knowing and

learning, with both intrinsic and instrumental value. Whilst there is diversity among dance artists, one

unifying feature is short careers as performers. Having an array of special attributes and competencies

that are beneficial to both individuals, the arts industry and broader society.

Not only are they thought to account for higher than average growth and job creation, they are

also vehicles of cultural identity that play an important role in fostering cultural diversity.

The dedication to promoting the cultural industries, such as cinema, music, publishing and

crafts, fully supports the progress of recent years to map and study this sector more closely and

actively works to advocate further research, disseminate best practices and collect published studies in

this field on its website.

Discuss the venture in detail:

Dance-beat is dedicated to bringing quality and affordable dance instruction to Mumbai. There is a

very active and dedicated dance community already located here. People can expand their knowledge

of dance and enjoy being with other people of like interests. It is our plan to incorporate the existing

dance community into our studio to begin with a strong base of supporters. From there we will be able

to spread the word that dancing is a fun and exciting way to spend time. There are many benefits to

dancing that will attract people from many backgrounds and interests.

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Description of the service:

Dance-beat academy is dedicated to bringing the fun and challenge of dancing at an affordable cost.

We will offer private and group dance instruction for social through competitive level dancers. Dance-

beat academy will also provide a place for dancers to use the skills they have learned, by having

weekly dance parties and seasonal/holiday dances.

Dance-beat academy will offer its students a variety of instructional choices. By offering them several

options, we can best serve their individual needs and financial limitations.

Private Lessons

Offer students the best value for their investment.

With a private lesson, the students will work one-on-one with an instructor, receiving

personalized instruction and immediate correction.

In learning the best methods, one-on-one, both beginning and advanced students will find

they progress faster and more easily.

Group Classes

This format promotes comfort in dancing with several partners as well as it goes along

with sharing a learned experience.

Group lessons will be available every week in the traditional styles and latest club trends.

Classes will be offered at every level, from basic beginner through advanced competitive

styling.

In addition, specialty classes will be offered for children and teens.

Practice Dances

Will be held once a week to allow students an opportunity to practice the dances learned,

in an environment with other students learning the same thing.

Instructors will circulate on the dance floor, assisting with questions or demonstration of

steps, as well as to dance with students.

Forms of dance

Western

Bollywood

Contemporary

Hip-hop

Classical

Folk

Salsa

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Financial Data:

Projected P & L Account

Earnings Statement Amount in rupees

FY 2012 2013 2014

Year ending Mar Mar Mar

No. of months 12 12 12

Income from service 200000.00 300000.00 500000.00

Total Operating Income 200000.00 500000.00 800000.00

Operating expenses

Administrative Expenses

Stationary (v) 500.00 500.00 500.00

Electricity Expenses (v) 24000.00 30000.00 32000.00

Salary (f) 15000.00 15000.00 15000.00

Telephone expenses (v) 1000.00 1000.00 1200.00

Rent (f) 0.00 0.00 0.00

Printing and paper work (v) 500.00 500.00 500.00

Selling & Distribution

expenses

Advertisement (v) 1500.00 1500.00 1000.00

Total operating expenses 42500.00 48500.00 50200.00

Non operating income

Interest received 0.00 0.00 0.00

Dividend received 0.00 0.00 0.00

Net profit 157500.00 451500.00 749800.00

Depreciation 1000.00 5000.00 6000.00

Less: Gross Interest 0 0 0

EBIT 156500.00 446500.00 743800.00

Tax 1000 5000 6500

Interest 1500 2500 5000

Net profit after tax 154000.00 439000.00 732300.00

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Projected Balance Sheet

Balance Sheet Amount in rupees

FY 2012 2013 2014

Year ending Mar Mar Mar

No. of months 12 12 12

Sources of fund

shareholders fund

capital 50000.00 3000.00 0.00

Reserve and surplus 154000.00 439000.00 732300.00

Net Worth 204000.00 442000.00 732300.00

Borrowed fund

Bank loan 78000 50000 30000

Sources of fund 282000.00 492000.00 762300.00

Application of fund

Current Assets

Cash & Bank balance 100000.00 370000.00 418300.00

Sundry Debtors 20000.00 50000.00 50000.00

Total Current Assets 120000.00 420000.00 468300.00

Current Liabilities

Creditor 0.00 0.00 0.00

Total Current Liabilities 0.00 0.00 0.00

Net Current Assets 120000.00 420000.00 468300.00

Fixed Assets

Gross Block 43000.00 77000.00 300000.00

Less Accumulated Depreciation 1000.00 5000.00 6000.00

Net Block 42000.00 72000.00 294000.00

Net Fixed Assets 162000.00 72000.00 294000.00

Investment 0.00 0.00 0.00

Application of fund 282000.00 492000.00 762300.00

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The Market:

1. Competition:

There are many dancing academies in India. Different dance academies offer different dance

styles for students to learn. Some of the famous dancing academies in India are

The Kala Academy is a representation of the dance, culture, art and the people of

Goa.

The Purva School of Bharatanatyam, a leading dance academy in Baroda, Gujarat

which imparts intensive training in the Bharata Natyam style.

Attakkalari Centre for Movement Arts is another dance academy that is committed to

contemporary dance and inter-disciplinary performance work.

SDIPA : Shaimak Davar Institute for Performing Arts is one of the most famous

dance academy for students to learn western dance like Jazz, Hip hop, Bollywood

styles of dance, Salsa and other styles. Shiamak Davar is a renowned dancer and thus

is quite professional in imparting and spreading the art of dance.

Competitive Edge:

All day multi time slot schedule

Dedicated instructional space

Affordable fees structure

Special discounts for disabled people

Unique events specially designed for corporate

2. Market:

Market Needs:

Dance in the form of fitness exercise.

Dance which relieves stress and mental pains.

Learning all form of Dance in same place.

Dance-beat academy feels that the smaller towns as well as all are potential customers. We have

divided these potential customers into the following groups:

Tiny-tots (3-10 years) Children/Teens (19 yrs. and under): Our plan is to have special classes designed

specifically for the younger people.

College Students/Young Adults (20-24 yrs):

Single and Married Adults (25-55 yrs): This will include single and married couples.

Seniors/Retired (56+ yrs): The people in this group will be a combination of retired and

working people(Corporate, software and other working professionals)

Disabled people

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3. Market segmentation:

Establish marketing goals that are quantifiable

Marketing goals will be quantifiable as follows-

Our per membership and registration sales

Achieving profits.

Sales as on the monthly, quarterly or yearly basis.

Describe your customer profile – the demographic and psychographic profile :

All age group can have our service starting from 3 years of age.

Each batch is economically priced.

What is the present size of the market?

http://www.ibisworld.com/industry/default.aspx?indid=1541

The market is estimated to about $4bnwith an annual growth of 2.3% and with an

employment of 70,608 and businesses of 10,026.

What percent of the market share you are going to have?

Today the market share of dance industry is almost 74% and therefore Dace-beat will fall in

the rest of the 26% of the market share.

What is the market growth potential?

Since these days dance is the booming industry our product will create a greater potential in

the market.

How will you attract customers – here spell out your marketing and sales strategies?

Our marketing efforts will focus on the following channels for reaching the customers:

Website

Print

Radio

Television

Email/Newsletter

Promotional stage programs

How are you going to price your product/service?

The price of the product is based on the demand and on what the market will bear i.e.

Demand pricing and will also be looking at our competitors.

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With your pricing are you going to make profits?

Our main motive is to gain profit and we are surely going to have sufficient amount of profit.

Is your price competitive?

Yes our price is very much competitive compared to our competitors as we are providing

membership to our clients at 8,500rs-11,000rs for different group of people.

Why should your customer agree to pay you the price which you are demanding?

As it is relatively cheaper than other competitors in the market.

Why did you arrive at this price?

We arrived at the selected price after calculating all the costs involved and adding our profit

margin to it.

What special advantages you will be offering your customers – justify your price?

We are providing discount if a customer wants to learn more than one form of dance like

Western

Bollywood

Contemporary

Hip-hop

Classical

Folk

Are you going to offer credit to your customers?

Yes, but it depends on the customers’ loyalty too.

Is it really necessary – are your competitors offering credit to their customers?

No it is not necessary. Our competitors are also not offering credit to their customers.

Justify whether you are in a position to offer credit.

We are already providing our service at a competitive cost hence are not in a position to offer

credit to our customers but if we find the customers’ loyal then we might give credit for small

amount.

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Location

Cost

Location cost would be higher as there is a need to have a large area for dancing and to deal

with the govt regularities and nowadays the cost of land is a big factor.

Convenience

As I would like to open the Dance-beat academy in an area where there is social facility

available i.e. in Chembur. So, there would be full convenience as far as location is concerned.

Safety

The location is more of a societal area and a shopping area so there is not much of a risk is

accessing.

Prestige

Building a Dance academy in a well sophisticated area with a good locality around is a great

prestige.

Transportation

As far as transportation is concerned Chembur is equipped with highways from all the sides

as well as there is also cabs, ricks, buses as well as railway facilities available in nearby areas.

Parking will also be not an issue.

Facilities

We will have ample of water and electricity supply in our area. A private instructor who

would be visiting the customers once in a week giving tips and suggestions about each

dancing style.

Zoning

Ours is a residential cum commercial zone.

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Management

What is your business background?

Have no business background.

How will it help you in running the business?

As a fresher I am keen to learn business and here to make profits. This curiosity and learning

attitude will surely help us to go a long way.

What management experience do you have? From where did you acquire it?

I am a fresher with no management experience in corporate.

But yes l have some experience in managing small level events for our college functions at

graduation levels.

Is it helpful in a particular way in your business?

Since many among us have managed various functions at our graduation levels, I have

managed in various areas of the events.

What are your weak areas as far as this business is concerned?

Weak areas:

To arrange for regular batches for particular customers.

Are you going to appoint consultants/employees to overcome those weaknesses?

Yes there can be a need to appoint consultant/employees because to get through this

weakness there must be some sought of guidance apart from family, friends & relatives.

What are your educational qualifications (mentions both formal and informal), which

have bearing on your managerial abilities or knowledge?

Poonam Gurung: B.sc graduate. Have 1 year of work experience as a consultant analyst.

Personal Data:

Yes, there can be a need to appoint consultant/employees because to get through this

weakness there must be some sought of guidance apart from family, friends & relatives.

Age: 21

Residential address:

F/09, Mithul Enclave society, opposite Jijamatanagar, near Mysore colony, Mahul road,

Chembur, Mumbai -74.

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Special abilities and interests and reasons for going for business:

I have a passion towards dance and so I decided to have a business in it.

What skills and qualities of your can make your business successful?

I am a trained Khatak dancer( 4year ) and the other forms I have learnt by watching dance

videos. So, using these skills I feel I have the ability to teach dance to others and encourage

them to dance more.

Who is on your managerial team?

Our managerial team comprises of my family members and my cousins. Later when we start

hiring employees for our business then we will be truly managers.

How are they qualified to help you venture?

With an amateur experience, we might not be as qualified as we are needed to be. But for sure

our passion and dedication towards the business will be beneficial for the venture.

What are their business backgrounds, their qualifications?

No one is having a business background.

What duties have you allotted to each one of them?

Poonam Gurung will be the instructor or teacher.

My sisters –Sweta Gurung and Komal Gurung will be my assistant.

My mom will be handling the registration work.

My dad will be the financer and will look all the finance aspect of the venture.

Ashish Gurung, my cousin , and Shirish Gurung, my brother, will be doing the marketing part

of our venture.

Are these duties clearly defined?

Yes, these duties are clearly defined. No one is confused about what is to be done.

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Reporting system: who reports to whom?

Everybody reports to the group leader that is Poonam. In the absence of Poonam due to some

genuine reason, all the 6 members will report to my assistant Sweta and Komal.

Who will take the final decision?

A consensus of all members will be accounted before any final decision has to be made.

Every group member is equally liable for the risk in the business. Hence all decisions have to

be taken with the consensus of all members.

How do plan to pay the management?

Depending on their positions in the business they would be payed and mainly the part or

role or contribution to the business. For e.g.- the registration staff will be paid less as

compared to the assistant instructor.

What additional human resource you have arranged for the business? (Accountant,

Lawyer)

We have not arranged for any additional human resource. As and when our business expands,

we will see whether we need the resource or not and then will decide accordingly.