Business Description
The Queenstown School of Arts and Crafts is a place where young people can discover and develop their talents for drawing and other pictorial arts. Graduates will be open to new career opportunities, trying themselves as artists, sculptors, or hand-made master-hands. Due to the creative atmosphere cultivated in The Queenstown School of Arts and Crafts, the students will feel free to express themselves and explore their outlooks and inner world by the means of art. Based on progressive educational methods and the professionalism of teachers, the school will prepare highly-qualified, intellectually and spiritually-enriched specialists.
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Vision and Target Clientele
The Queenstown School of Arts and Crafts will be the cultural center of the city. It will be a place where creative and original people can study, meet, communicate, and work on various projects. It will be a location where new concepts and visions of art will be born, just like in the heydays of the Soviet avant-garde, when artists’ workshops were proclaimed laboratories for researching new forms of art. Additionally, despite the fact the institution is planned to be youth-oriented, it will provide educational services to people of all ages.
Mission and Goals
The school will offer both short-term and long-term courses, with final exams and diplomas that will be acknowledged as full certificates. The idea is to help young people discover their hidden talents and educate them as artistic professionals. These students will not only adhere to the already-existing art movements, but also experiment, seek new forms, and question established norms. The main goal of The Queenstown School of Art and Crafts is to nurture aspiring artists and to be renowned as an institution that have prepared students that later became famous artists.
Business Strategies:
The Queenstown School of Arts and Crafts will rely on:
- A high quality of education. The school will hire renowned artists who are not only proficient in their field, but also possess skills to pass on their knowledge to others.
- A variety of specialties one can master upon entering the school.
- a quiet, comfortable environment which facilitates the creative process.
- A location near the city center and a convenient schedule of classes.
- A diploma that will be awarded after graduation and acknowledged as a full certificate.
- An intensive advertising campaign.
Funding Requirements and Financial Planning
In order to establish the The Queenstown School of Arts and Crafts, both the owner’s savings and a bank loan will be needed.
Expenditure
Fixed and sunk costs in dollars
License and registration – 2,000
Consulting services – 90,500
Capital expenditure – 350,000
Architect and designer services – 25,000
Promotion – 22,000
Personnel – 400,000
Equipment – 214,000
Web domain registration – 750
Total Expenses = $2,203,825
Income Projections and Explanation
The Queenstown School of Arts and Crafts is expected to gain profit through charging fees ($200 per month) for education. It will also base its income on selling various art materials. Students will be granted a discount on all the materials, and admitted free of charge.
In the next three years, the number of the school’s students is expected to grow as follows: year one – 300; year two – 1,000; year three – 2,500. The daily revenue from selling art materials is projected to be approximately $150, or $4,500 per month in year one. In years two and three, a 30 percent increase in sales is expected; thus, in years two and three, monthly revenue will equal $5,850. The revenue from fees paid by students per month will be $200.
Thus, the revenue derived from the school will be 4,500 + [(200×300) x 12] = $724,500 in year one; 5,850 + [(200×1000) x 12] = $2,405,850 in year two; 5,850 + [(200×2500) x 12] = $6,005,850 in year three.
Thus, in year three, deducting all the expenditures, the net amount will be: 6,005,850 – 2,203,825 = $3,802,025. After deducting a bank rate of $250,000 per year, the net profit will be 3,802,025 – 750,000 = $3,052,025.
Future Prospects
Starting from an art-school of a local scale, The Queenstown School of Arts and Crafts is expected to gradually become an international culture center, which would organize and host various significant events in the field of art. The school will also support artists who try to get on their feet and prepare renowned designers, artists, sculptors, hand-made master-hands, as well as other talented people.
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