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Executive Summary

Dancing is a historical custom that has been active at social gatherings for many years. In recent times, it has demonstrated its enduring presence in life. Furthermore, parents do not teach their children how to dance, as most of them have no skills. Thus, they enroll them into dancing schools for them to pursue their dreams in this field. It is noteworthy that the international Olympic committee (IOC) has included dance as a sport in the next Olympic Games. MLADA is committed to bringing excellent and reasonably priced dance instructions to Miami. It is noteworthy that there already exists a very active dance community in Miami. However, they lack the encouragement to join the present dance schools. MLADA has a strategy of collaborating with this dedicated community to enroll most of them into the institution to ensure the school begins with a firm foundation. As a result, they will help in the marketing of the school to those around. Most importantly, dancing has many benefits both socially and medically that will attract individuals in Miami from different backgrounds.

Sandra Huss and Richard Smith are the proprietors of MLADA. They have been involved in dancing for quite some time. Similarly, Smith has worked in various dance schools, in America, as an instructor. While Sandra Huss is still a student, but has been participating in various dance activities within her school. It is a fact that Huss and Smith make a strong and efficient team that will ensure MLADA becomes a successful business.

Objectives

The following are the objectives of MLADA within the first four years of its establishment.

I. Establish a dance school with a good, helpful environment that ensures customer contentment.

II. Offer a cooperative and entertaining opportunity for individuals with varied curiosities, milieu, and ages.

III. Offer teaching to students at all stages of dancing which include basic all the way to professionals.

IV. Offer staff training, inducements, and other remunerations to ensure they are committed to their work.

Mission

MLADA offers an environment where individuals can advance their skills, make more friends, enjoy themselves, and feel contented. The school offers a well-structured and integrated dance program that ensures students get the basic skill and knowledge. Most importantly, the school has established fees for all levels of dancing offered. Furthermore, it has put more emphasis on group classes to ensure it reaches its objectives. It is noteworthy that the school's instructors are in contact with some of the best professional dance coaches in the US. As a result, they will acquire continuous training to ensure they offer students the best and latest dance trends. The school welcomes people from various backgrounds and prohibits smoking among the students while in school. This is because this behavior is medically to impede the usual breathing of an individual during a tedious session. Thus, it might be a hindrance to the students training sessions.

Company Summary

Miami's Latin American Dance Academy will be located in the city of Miami. It will offer the community a pleasant surrounding in which to acquire dancing skills. Moreover, the fees will be at affordable rates to encourage more students to join the school. MLADA will offer private training, group training, social dance functions, and leasing amenities for local proceedings. It is noteworthy that dancing as a sport has acquired a lot of following globally. Thus, the school expects to attract many students for full-time and part-time curriculum. These students will mainly come from Miami while the rest will come from other parts of the country. Additionally, the school will attract those students with special attention in dancing. These include individuals who want to take their dancing prowess professionally; thus, earn a living from it. Despite its name, the school welcomes everyone without any biases.

Products and services

The school is committed to offering dancing instructions in the city of Miami at an affordable cost. The school intends to offer dance instructions to private students and those who wish to have them in groups. It will provide a platform on which the students will display the skills they have learnt. As a result, it will host dance events on a weekly basis, additionally, it will organize dance events during holidays and any other national celebrations. MLADA will, therefore, offer students diversified instructional choices. This will ensure it addresses the student's desires and monetary confines.

One of the products is a private training that enables students to get close to their teachers and as a result, grasp the moves faster and easily. This form of training entails the teachers to work with one student at a time. It enhances concentration; thus, better training. The student immediately emulates what the instructor is performing. Furthermore, it entails immediate correction incase errors are made. In private training, the students will grasp the moves quickly and effortlessly, as they will enjoy the feeling of dancing with a partner.

The other product is group training that initiates students to the experience of performing with diverse partners and in the process disseminates themselves with various forms of step patterns. The changing of partners through out the class enables students to identify the might and flaws of their colleagues. Additionally, this form of training ensures students become perfect and are able to perform with any person. This training will offer both modern and traditional trends. Most importantly, the school will offer weekly lessons encompassing the starters all the way to professionals. The school will also offer unique lessons for children and teenagers.

Practice dance events are also products offered every week to enable students showcase what they will have learnt the whole week. This is essential, as they will have the opportunity to mingle with other students taking similar lessons in other institutions. In addition, the instructors will also have a session where they will answer questions posted by students including demonstrations.

One service that the school will offer is renting of its facilities to the community. It is evident that the school will have state of art facilities fit for weddings, musical functions, and parties. The institution intends to develop more buildings in future to create room for church services on Sunday and yoga sessions in the morning. MLADA will offer special dance training sessions in nursing homes and schools. This will mainly act as exercise sessions for children and those in nursing institutions, which include hospitals and elderly homes. Most importantly, the school will engage in exchange programs with other dance schools around the country, in a bid to offer quality training to students.

Market Analysis Summary

It is noteworthy that dancing academy is an industry that fetches a lot of money and has the potential to grow. This is because as mentioned previously the IOC has accepted to include it as a sport in the coming Olympic Games. The two events included are dance sport and ballroom dancing. Statistics have revealed that more than one million individuals enroll for dance lessons each year in the United States of America. Additionally, according to the same statistics the population of armature dancers has increased by 25% every year since 1985. The growing popularity of social dancing together with the advancing dancing trends has proven to influence the lives of many people especially the youth. The company management is confident that the city of Miami will portray the same trends.

In order for the company to come up with a reliable market analysis, segmentation of potential customers is necessary. The first group are children and teens aged nineteen years and below. The second group is married and single adults aged between twenty-five and fifty-five years. The last group includes seniors and retired citizens aged above fifty-six years. The school intends to attract 55% of the population from all the groups mentioned by the end of five years.

Target market strategy

It is evident that the market has no limit as the institution can enroll anyone with the ability to walk as he or she all posses the ability to dance. Hence, it is the institutions obligations to introduce dance to these people, in addition to building their dancing interests. MLADA will ensure children and teens embrace dancing professionally by presenting them with the fun that come with dancing. This is through the introduction of dance in junior and senior high schools. It is noteworthy that the United States Amateur Ballroom Dance Association (USABDA) is ensuring that dance develops among the youth. The presence of USABDA chapter in Miami is of immense importance to the school as it will be cooperating with the school in ensuring dance is introduced to the children and teens.

Most colleges have constituted dance in their curriculum, moreover, they have participated in dance competitions that have attracted large crowds. MLADA has a vision of working with such colleges to facilitate dance sessions to students at affordable rates. Statistics reveal that dancing attracts more students than any other group. Thus, it will be important for the company to put this into consideration. Moreover, at this age they have the ability to grasp whatever interests them.

It is noteworthy that singles and married adults have largely been involved in dancing. Furthermore, they are ever looking for new activities to perform. Dancing is essential to married couples as it enhances their social relationship. This is because it offers them chance to share their experiences. Most importantly, for those who are single they get a chance to meet people and date. In order to diversify its services, the school will offer special wedding dance practice sessions for couples who want to learn their first dance.

The retired individuals and seniors represent a small portion of the market; however, most of them often turn into long-term dancers. It is noteworthy that dancing relaxes the mind and body. Thus, it is an essential aspect in the lives of those in this age group, as it keeps their body healthy and fit. Furthermore, some take it as a hobby.

Competition

Currently, there are many schools in Miami offering dance lessons. However, most of them do not collaborate with learning institutions such as schools in enhancing the skill among the youth. Thus, this is MLADA's main avenue to beat them and become top in the region. The dancing schools present in Miami include "kick it up dance studios, peaches school, international dance studio" and many others. Additionally, other independent dance teachers offer their services to private customers and groups. Thus, MLADA will structure a program that will involve these teachers, thus, making them collaborate with it. We are confident that the high-quality instructions and affordable fees will enable the school emerge top in the market.

Strategy and Implementation Summary

MLADA's marketing strategy will focus on individuals who aim at achieving more from their dancing investments. Most of the packages offered ensure dancing is affordable across the population. Additionally, the instructors employed will be qualified and efficient. Moreover, the school will embrace professionalism in its service delivery. MLADA's facilities will be of high standards in a bid to attract many customers and provide a favorable learning environment. It will employ various marketing channels, which include television and radio advertisement, internet, and direct mail. Most importantly, the marketing through the Internet includes the development of a web page in collaboration with the community enterprises.

The institutions sales strategy will base on consultation whereby the teachers and customers will work together to ensure customer needs are met efficiently. The teachers will also undergo regular sales training sessions based on the recognition of customer purchasing criteria. This will equip them with the vital technique on how to convince customers into buying company products.

Competitive edge

As mentioned earlier, there are many dance schools in Miami, but MLADA has employed strategies that will overcome any potential competition. However, the institution will not sit back and wait for customers to seek its services. Thus, it will offer free community empowerment programs on the importance of dancing. This will include the social, economic and health importance of dancing. The other advantage the institution has is the presence of an active dance community in Miami city. This includes a local chapter of the USABDA that is actively involved in dance activities.

MLADA intends to keep the fees at a level affordable to the community by offering a range of competitive packages. In addition, the instructors will undergo training on the modern dance trends the market is offering and be up to date with consumer demands. Most importantly, the school plans to collaborate with willing dance schools in Miami and all over the country to ensure it reaches a wide range of customers.

Marketing strategy

MLADA's marketing plan is very straightforward. Its main theme is satisfying its customers. It is a fact that a satisfied customer will go a head and inform other people about the services provided at Miami's Latin American Dance Academy. As a result, the institution will offer inducement and discounts to customers who supply it with referrals. The institution will market its products in a way to portray the fun involved in dancing. It is evident that the main challenge will be recruiting customers who are already in other dance schools. The other challenge will be to convince those who have never considered taking dancing lessons before to join the school. The main marketing strategy will be encouraging individuals to make good use of their leisure time. This is through dancing as it comes with many health benefits to the body.

Sales strategy

The institution will advertise discounts and introductory offers regularly as a way of keeping the public up to date with the new services. Additionally, the instructors will work with customers in finding out their dancing desires. This will include the structuring of course outline to meet customer requirements. The customer will sign a contract with the MLADA as a way of committing himself to the lesson requirements. On the other hand, the school will be flexible to accept changes to the lesson timetable proposed by the customer if the need arises.

Management Summary

Miami's Latin American dance academy will be a relatively small enterprise managed by two proprietors, Sandra Huss and Richard Smith. Richard smith, owner, and dance instructor will be responsible for teaching advanced students. He will also appoint, coach and direct new instructors. Smith is obligated to arrangement group sessions and special functions. Due to his experience as an instructor, he will also develop dance curriculum and packages.

On the other hand, Sandra Huss, proprietor and business director will train all armature students. In addition, she will be in charge of the company finances. Having gone through bookkeeping courses, she will as well take care of the same. Huss will develop and design advertising and marketing strategies. Lastly, she will be responsible for contract negotiation. Sandra Huss has the passion to succeed in this business. Thus, she is very committed to ensuring the venture meets its entire objectives.

Personnel plan

Once the school starts, a teacher training class, will be incorporated. This training will be free, and in return, the institution hires the teachers on full-time or part-time basis. In addition, the institution wants to employ four dance teachers after six months of its establishment. The projected personnel plan after the first three years is as follows.

Financial Plan

The proprietors' own start-up cash is to finance the business. The premises identified are in good condition and only needs minimum renovations. The main star-up requirements are teaching supplies, business assets and advertising. In addition, the proprietors plan to finance growth using cash flow.

Important assumptions

The pecuniary preparation depends on essential assumption like the one shown in the table below. It is a fact that the collection of dance fees is a critical issue; thus, a factor the school cannot influence. One assumption is the fact that Miami has many people with a passion for dancing, thus, they will join this school. The other assumption is the fact that the market in Miami will grow at a projected rate of 5% per annum. The last assumption is that, the community will rent the institution facilities regularly in the future.

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