As for the detailed cost analysis for starting a music school; it might differ in other countries due to the value of their money. Our music school facility will be well – equipped with wood-sprung floors, a comfortable lobby with flat screen TVs, and a wide range of music instruments. Your email address will not be published. There are several models for creating business plans and as such, this is only one possible model. If you are just starting one then you will probably be requiring funds. We provide group music theory courses and string changing services. Opening of Corporate Bank Accounts various banks in the United States: Application and Obtaining Tax Payer’s ID: Application for business license and permit: Purchase of All form of Insurance for the Business: Lease a standard facility for the music school / studios: Generating part of the start – up capital from the founders: Design of Logo for the martial arts school: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the needed musical instruments, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the business: Creating Awareness for the music school in Palm Beach – Florida: Health and Safety and Fire Safety Arrangement: Establishing business relationship with vendors and key players in various industries. At Maestro Melody Music School®, LLC we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance. We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely. What does this actually mean? Depending on the picture you have in mind before considering starting your music school, you would require hard work, moderate capital and various training and certification before you can successfully establish your own music school. This has been revealing and it’s little wonder that our marketing efforts have been mediocre and haven’t yielded much. Our goal is to grow Maestro Melody Music School®, LLC to become one of the top 10 music school brands in the United States of America and Canada which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Palm Beach – Florida, but also in other cities in the United States of America and Canada where we intend opening branches of music school. In addition, the popularity of music in the United States will continue to drive demand for the industry’s services. Below are the sales projections for Maestro Melody Music School®, LLC, it is based on the location of our music school and of course the wide range of musical instruments training classes and related services that we will be offering; N.B: This projection is done based on what is obtainable in the music school industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Ballroom dancing has been alive at social functions for centuries, and Swing and Latin are the Waltz and Foxtrot of days gone by. The industry is projected to grow at 1.3 percent annual growth within 2011 and 2016. Our music school will be located in – between a well – populated residential estate and a business district in Palm Beach – Florida, United States of America. Required fields are marked *. Starting a music school goes beyond having the skills necessary to impart the knowledge of students. musical instruments instructors will always be needed. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited. In addition, we will also offer special discounted rates to all our individual clients at regular intervals. Statistics has it that in the united states of America alone, there are about 13,470 registered and licensed (accredited) music schools scattered all across the United States responsible for employing about 91,328 people and the industry rakes in a whooping sum of $4 billion annually. We know that one of the ways of gaining approval and winning customers over is to equip our music school facility with state of the musical instruments and equipment and make our school environment welcoming and conducive enough for people to effectively learn how to play musical instruments. At Maestro Melody Music School®, LLC, our students’ overall best interest would always come first, and everything we do is guided by our values and professional ethics. Below are the platforms we intend to leverage on to promote and advertise Maestro Melody Music School®, LLC; Generally, for musical instruments training classes, both per hour billing and flat fees on a weekly, monthly basis and contract applies. We have a team that is considered experts in the music school industry, a team with excellent qualifications and robust experience in professional musical instruments trainings and practices. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Maestro Melody Music School®, LLC; Our core strength lies in the power of our team; our workforce. We are also strategizing to limit such threats by diversifying our business operations. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Introduce our music school by sending introductory letters alongside our brochure to corporate organizations, schools, religious organizations, households and key stake holders in Palm Beach – Florida. With the proper implementation of these strategies, we hope to attain an appreciable level of growth in the short term. There has to be a structured business plan for starting a music school in place to guide your activities. We are well poised to take advantage of the opportunities presented to us. The Fine Arts Schools cum Music Schools industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, Germany, France, Italy, Holland, Switzerland, Australia and Canada et al. As a standard and well equipped music school, Maestro Melody Music School®, LLC offers a wide range of musical instruments trainings and practice hence we are well trained and equipped to services a wide range of clients (both individual clients and corporate clients alike). Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for Maestro Melody Music School®, LLC. It is glaring that revenue growth in the industry began to rebound as the economy started to recover and schools’ endowment funds and corporate profit bounced back. We offer a wide range of courses including single-course programs where our students are given the very best and get to learn in a serene atmosphere. Below is the business structure we will build Maestro Melody Music School®, LLC on; Principal Partner / Chief Executive Officer: Musical Instruments Instructors / Coaches. That’s also about the time I decided the first business I would start after college would be a music school. There are also guitar picks, guitar, and violin rentals and several others.eval(ez_write_tag([[300,250],'startupback_com-banner-1','ezslot_6',147,'0','0'])); Our expansion plans will require the injection of a significant amount of capital. In this step, you define your business and state your qualifications. We will also offer our musical training services a little lower that what is obtainable in the industry so as to generate enough revenue to run the business. On the other hand, as the economic recovery took hold, rising per capita disposable income drove consumers to increase spending on activities which including musical instruction, supporting revenue growth in the industry. At present, our music school can contain about 60 students. Receives Visitors / clients on behalf of the organization, Receives parcels / documents for the company, Handles enquiries via e-mail and phone calls for the organization, Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services, Manages administrative duties assigned by the line manager in an effective and timely manner, Consistently stays abreast of any new information on the company’s promotional campaigns etc. Our vision is to build a highly competitive and effective music school that will become the number one choice for both individuals and corporate organizations in Palm Beach – Florida and in other cities in the United States of America and Canada where we intend opening our branches or selling our franchise. To achieve success, you must plan for it. These are the questions your business plan will help you answer. As a result of this, Maestro Melody Music School®, LLC will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis mostly for special clients and home tutors. A business plan offers you with guidance on the path to follow. Before you design your business plan construct a steering committee for the school. A market-feasibility study and business plan is a critical starting point and foundation for the development of your private school. Social media is one of those advertising strategies that could be used in advertising. Our weblink will also be promoted through the creation of relevant content. Most important of all, our students will be encouraged to spread the word about our business. I paid my way through a double-major in Entrepreneurship and Piano Performance by teaching and running a house-painting business. Bplans is owned and operated by Palo Alto Software, Inc., as a free resource to help entrepreneurs start and run better businesses. We will be running paid ads on radio, TV and print media platforms.eval(ez_write_tag([[300,250],'startupback_com-leader-1','ezslot_8',149,'0','0'])); Social media marketing is yet another option we seek to explore. It is important to state that to be able to start a music school, you should have been trained and also you should be able to play couple of major musical instrument. Weakness is a reality we have to deal with in our chosen endeavor. No doubt, the opportunities in the music school industry is massive considering the number of individuals and corporate organizations who would want to learn music and how to play various musical instruments for various reasons. It holds true for music … Our overall business goal is to position Maestro Melody Music School®, LLC to become the leading brand in the music school industry in the whole of Palm Beach – Florida, United States of America, and also to be amongst the top 10 music school brand in the United States of America within the first 5 years of operations. We are set to become the number one choice for both corporate clients and private students in the whole of Palm Beach – Florida which is why we have made provisions for effective publicity and advertisement of our music school. This contributes to a low level of market concentration in the Fine Arts School industry. The plan is crucial to how well your business kicks off. We will ensure that we only hire people that are talented, qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). How to Start a Music School Develop a detailed business plan. We will ensure that we hire professional and licensed musical instruments coaches, and instructors to work with our students. And then write a paragraph describing why you are qualified to run this business. Maestro Melody Music School®, LLC is positioned to offer a wide range of musical instrument related trainings and practice to a wide range of clients ranging from kids to adults and to people who want to actively compete in musical competitions or who want to launch their musical career. Invest in a solid financial house. This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our market research and feasibility studies and we are enthusiastic and confident that Palm Beach – Florida is the right place to launch our music school. A growing economy also means more people having disposable incomes to spend in acquiring new skills. Here are the payment options that Maestro Melody Music School®, LLC will make available to her clients; In view of the above, we have chosen banking platforms that will enable our client make payment for all our services without any stress on their part. Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy, Responsible for handling business research, market surveys and feasibility studies for clients, Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients, Develops, executes and evaluates new plans for expanding increase sales, Documents all customer contact and information, Represents Maestro Melody Music School®, LLC in strategic meetings. Below is a sample music school business plan template that will help you successfully write yours with little or no stress. Duke Edwards has well over 20 years of experience as a music instructor prior to starting Maestro Melody Music School®, LLC. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop. The Main Components of a Music Business Plan. THEN, start meeting with publishers and song pluggers. This has helped significantly in the training of well-equipped graduates who have turned out to be highly successful with their music careers. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of, and that your musical school environment is conducive enough for the students to learn and to effectively practice martial arts. Website address 6. We are mindful of the fact that there are stiffer competitions amongst music schools in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing. Well, it means a lot of things. This is so because when disposable income drops, the need for our services also declines. Every business faces a threat or challenge at any part of the life cycle of the business. One mistake to avoid is to teach in one linear way, with no variation. Prepare a business plan. So also, it is trendy to find music schools as engage in the sales of musical instruments and other musical merchandize in other to generate more income for the business. Lastly, in the bid to maximizing profits, loads of music schools engage in home services; they go to the houses of their clients as against their clients coming to their music school. This will be sourced from our banking partners and will be accessed at a reasonable interest rate. The process of developing your business plan will help you outline your goals and the methods by which you plan to reach them. Create a cancellation policy. Maestro Melody Music School®, LLC is a standard, licensed, accredited and well equipped music school with state of the art facility and space large enough to contain about 50 people per – time. to ensure accurate and helpful information is supplied to clients when they make enquiries, Working Class Adults / Corporate Executives. … The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. It is glaring that revenue growth in the industry began to rebound as the economy started to recover and schools’ endowment funds and corporate profit bounced back. Our mission is to provide affordable professional and highly effective music trainings and services to a wide range of clients that cuts across different divides. Maestro Melody Music School®, LLC will generate income by offering the following services; One thing is certain; there would always be corporate organization and individual clients who would need the services of professionals when it comes to learning how to play various musical instruments. As a business, we’ve identified our areas of strength to be in the quality of our workforce and the depth of our curriculum. If you’re setting up a physical school, picking the right location is the … As a matter of fact, in the bid of raising capital for your music school, you should first start with home tutors and then save up cash to rent a facility and buy all the required musical instruments. We will ensure that we work hard to meet and surpass all our students’ expectations as it relates to their goals of enrolling in our music school or engaging our services. The delivery of quality lectures is dependent on an experienced workforce. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good. So let’s proceed to the business planning section. We have made a three-year growth projection based on the proper implementation of our sales strategies. Your business plan will describe your goals for the school, the reasons they are attainable, and how you plan to achieve them financially. Maestro Melody Music School®, LLC is a private registered business that will be owned by Duke Edwards and his immediate family members. Attend music concerts and related expos, seminars, and business fairs et al, Encourage word of mouth marketing from loyal and satisfied students, Place adverts on both print (community based newspapers and magazines) and electronic media platforms, Sponsor relevant community based events / programs, Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand, Install our Bill Boards on strategic locations all around Palm Beach – Florida, Engage in road show from time to time in targeted neighborhoods, Distribute our fliers and handbills in target areas, Contact corporate organizations by calling them up and informing them of Maestro Melody Music School®, LLC and the services we offer, List Maestro Melody Music School®, LLC on local directories / yellow pages. We have revamped our marketing department by hiring a new and experienced team that will coordinate all marketing campaigns. If you intend issuing a certificate or diploma that would be recognized by the government, then you should apply for licensing and approval from the government agency responsible for regulating the education industry in your country. These threats can be external or internal. We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our music school on the right business foundation. We will be creating social media accounts on all the major platforms such as Facebook, Twitter, and Instagram. The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. 30% of this amount will be used as running costs. Mailing Address 4. This means a greater number of people are more interested and open to take music lessons. That will give him an idea of whether you know what you need to do and if … I have a computer so that I may begin the recording studio, though this will have to be in the works for the time being. Starting a music school goes beyond having the skills necessary to impart the knowledge of students. You could also take your talents on the road and build a business as a touring … Advertise our music school in our official website and employ strategies that will help us pull traffic to the site. Use this document as a starting tool to begin determining these various aspects of your business. This is where your business plan comes in. At Tempo Studios, we seek to build a world-class music school where our students get the very best. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. A Sample Music Store Business Plan Template, A Sample DJ School Business Plan Template, How to Write a Mobile DJ Business Plan [Sample Template], Writing a Recording Studio Business Plan [Sample Template], How to Write a Dance Studio Business Plan [Sample Template], Writing a Music Production Business Plan [Sample Template], How to Write a Record Label Business Plan [Sample Template], 14. Our overall business goal is to position Maestro Melody Music School®, LLC to become one of the leading music school – brand in the industry in the whole of Palm Beach – Florida, and also to be amongst the top 10 music school brand in the United States of America and Canada within the first 5 years of fully running the business. This is where your business plan comes in. This, in turn, is dependent on your marketing strategies which we have decided to improve upon. 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