The conception of dance education and literacy has been increasing with the passage of time. Globalization has enhanced the organizations to expand their businesses and operational activities; similarly, it has provided an edge to contemporary business dimensions and concepts. The market for dance literacy has witnessed expansion in recent years. There are several individuals comprising the target market of dance learners that prefer diverse dancing styles and strive to learn them in exchange of certain fees charged by the institution. The objective of this paper is to illustrate a business plan for a dance studio named as “Sensation”. This paper will address the strategies and start up cost needed to initiate this business; moreover, the paper will also highlight the useful strategies that can be considered effective while launching a dance studio.
In the market of dance learners, the United States comprise the target market of individuals that want to learn and grasp diverse dance style as dance has been an important part of the culture since decades. There are several occasions on which dancing are the core ingredient in the United States. Moreover, the dance learning market has encountered boom in recent years due to the enhancement in awareness. There are several services offered by Sensation which include diverse dancing styles that are being taught at the studio. The company offers dance styles like Tap, Jazz, Ballet, Lyrical and Classical dance in order to attain maximum share of the target market. Nonetheless, the price charged by the company in exchange of the services is market compatible; however, the varieties of dance styles offered by the studio can serve as an attractive package.
The startup cost of the business engulfs the cost of land, inventory, building (rental/purchased), resource or any other expense that is required for staring the business. In case of Sensation dance studio, the startup cost is of prime importance to analyze as the business engulfs the growing market and there is possibility that business might face the losses in initial phase (Baker, 2003, 67-78). Hence, the startup cost of the business should be strictly maintained and kept minimal in the initial phase of the business which is well executed in the business plan of Sensation dance studio.
Products and Service Plan
The dancing services offered by Sensation are one quintessence constituent of the enterprise approach because the market for dance learners which can categorize the services offered by the company as highly competitive. The products and services offered by Sensation engulf the cocktail of diverse dancing styles and approaches. There are several dancing styles that are learnt and preferred by individuals as per their choices and frame of mind. Nonetheless, there are five distinct dancing styles that are offered by Sensation; Tap, Jazz, Ballet Lyrical and Classical dancing. The company has chosen these styles of dancing due to their high demand in the market (Fallek, Kris, 2003, 124-136).
The management of Sensation dance studio will incorporate the personnel that would be responsible ...