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A Sample Music School Business Plan Template

Are you about starting a music school? If YES, here is a complete sample music school business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a music school. We also took it further by analyzing and drafting a sample small music school marketing plan template backed up by actionable guerrilla marketing ideas for music schools. So let’s proceed to the business planning section.

Why Start a Music School?

The music industry is notable for producing celebrities and “overnight” millionaires on a global scale, but one thing about this industry is that it appears that we have less number of music schools to carter for the growing number of people who choose music as a career. If you are music inclined, you should start thinking of ways to benefit from the booming music industry, and one of the ways you can benefit from this industry is by starting your own music school.

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.

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.

But if your aim is just to run a music school where you will just train people to acquire the basic skills of playing any musical instrument of their choice, then you need not bother to go through the stress of applying for license; in fact, you can even start the music school in your house.

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. 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.

Now that you have decided to start your own music school, it is important that you sit back to create plans on how to raise start – up capital, how to attract clients, how to generate profits and how to run the business. These are the questions your business plan will help you answer. Below is a sample music school business plan template that will help you successfully write yours with little or no stress.

A Sample Music School Business Plan Template

  • Industry Overview

First and foremost, it is important to state that the music school line of business can safely be categorized under the Fine Arts Schools industry. Basically, players in the Fine Arts industry offer instruction in the arts, including art, dance, drama, music and photography.

Programs that offer academic degrees, even if they specialize in fine arts are not included in this industry. It is also important to state that commercial and graphic arts and commercial photography instruction, are not included in this industry but they are part of the Trade and Technical Schools industry

If you are part of the people keeping tabs on happenings in the Fine Arts Schools industry, you will agree that the industry has developed a creative edge over the last half a decade. 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.

In addition, still-high unemployment brought strong demand from a larger number of individuals who were out of work. In the next half a decade, the industry revenue is expected to further improve due to stronger investment returns from endowment funds and higher tuition revenue amongst other factors.

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.

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. The industry is projected to grow at 1.3 percent annual growth within 2011 and 2016. It is important to state that there is no establishment in this industry that has a lion market share.

A recent research conducted by IBISWORLD shows that Fine arts schools (music schools inclusive) usually enroll small numbers of students per class and serve local markets. This contributes to a low level of market concentration in the Fine Arts School industry. IBIS World estimates that the top four players account for less than 2.0 percent of industry revenue in 2016.

The report further stated that the industry is highly fragmented with a large number of small enterprises and nonprofit organizations; high concentration is not anticipated to change in the near future as additional schools open.

This is comparable with the education sector at large. In 2016, 80.0 percent of the establishments have fewer than 10 employees. In addition, lower student-to-teacher ratios are thought to facilitate better learning environments and provide more personal attention to students.

Over and above, any entrepreneur who is a certified music instructor can successfully launch his or her music school and make great gains from the industry simply because the industry is still growing and more people are becoming aware of the immense benefits they stand to gain when the enroll in a music school.

Music School Business Plan – Executive Summary

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. We run a music school where kids, teens, and adults can learn how to play a wide range of musical instrument in a fun – fulfilled and relaxing atmosphere.

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. We hope to open branches of our music school in other key cities in the United States and Canada and also to sell franchise in the nearest future.

Maestro Melody Music School®, LLC is a client-focused and result driven music school that provides ease to learn and fully practice and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients (students and organizations alike who would hire our services).

We will offer a standard and professional music instruments training in a highly secured and conducive learning environment to all our students. 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.

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. We will also run a one – stop music store in same facility where our students and other customers can purchase authentic musical instruments and other related accessories.

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. We will ensure that we hire professional and licensed musical instruments coaches, and instructors to work with our students.

Maestro Melody Music School®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a dance related training organization, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our students’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients (students and corporate organization).

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.

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.

Maestro Melody Music School®, LLC is founded by Duke Edwards and his immediate family members. Duke Edwards has a Degree in Music from New York School Arts and he can perfectly play over 7 musical instruments. Duke Edwards has well over 20 years of experience as a music instructor prior to starting Maestro Melody Music School®, LLC.

  • Our product and services

Maestro Melody Music School®, LLC is going to offer varieties of musical instruments trainings and related services within the scope of the music schools industry in the United States of America. Our intention of starting our music school is to help in individual and organizations learn music and how to play various musical instruments in a conducive and relaxing environment.

We are also in the music school industry to make profits and we will do all that is permitted by the law in the US to achieve our aim and business goal. Our service offerings are listed below;

  • Providing instructions and training on music and how to play various musical instruments
  • Merchandise sales (musical instruments, equipment and other accessories)

Our Vision Statement

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.

  • Our Mission Statement

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. 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.

  • Our Business Structure

Our company’s structure is not entirely different from what is obtainable in the music school industry, as a matter of priority, we have decided to create a structure that will allow for easy growth for all our employees and also, we have created platforms that will enable us attract some of the best hands in the industry.

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 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).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target.

Maestro Melody Music School®, LLC is fully aware of the modus operandi in the music school industry, hence adequate provision and competitive packages has been prepared for independent sales agents. Our marketing department will be responsible for managing this aspect of our business structure.

Below is the business structure we will build Maestro Melody Music School®, LLC on;

  • Principal Partner / Chief Executive Officer
  • School Administrator
  • Musical Instruments Instructors / Coaches
  • Marketing and Sales Executives
  • Accountant / Bursar
  • Client Service Executive / Front Desk Officer

Roles and Responsibilities

Principal Partner / Chief Executive Officer:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

School Administrator

  • Responsible for overseeing the smooth running of HR and administrative tasks for Maestro Melody Music School®, LLC
  • Designs job descriptions with KPI to drive performance management for martial arts instructors / coaches
  • Regularly hold meetings with key stakeholders (clients and member of the board) to review the effectiveness of the business Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of musical instruments / equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily activities of Maestro Melody Music School®, LLC.

Musical Instruments Instructors / Coaches

  • Responsible for providing instructions and training on music and how to play various musical instruments
  • Handles merchandise sales (musical instruments, equipment and other accessories)
  • Attends promotional events and competitions
  • Attends to any other task as instructed by the management

Marketing and Sales Executive

  • Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
  • 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
  • Helps to increase sales and growth for Maestro Melody Music School®, LLC.

Accountant / Bursar

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Maestro Melody Music School®, LLC
  • Serves as internal auditor for Maestro Melody Music School®, LLC.

Front Desk / Customer’s Service Officer

  • 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
  • Distributes mails in 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. to ensure accurate and helpful information is supplied to clients when they make enquiries

Music School Business Plan – SWOT Analysis

Maestro Melody Music School®, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured music school that can favorably compete in the highly competitive music industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Maestro Melody Music School®, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Maestro Melody Music School®, LLC;

  • Strength:

Our core strength lies in the power of our team; our workforce. 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.

Aside from the synergy that exist in our carefully selected faculty members, our state of the art musical instruments and our strong online presence, Maestro Melody Music School®, LLC is well positioned in a community with the right demography and we know we will attract loads of individual and corporate clients from the first day we open our doors for business.

  • Weakness:

As a new music school in Palm Beach – Florida, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated music school industry; that is perhaps our major weakness. Another weakness could be that we might not have the required capital to pump into publicity of our business the way we intend going about it.

  • Opportunities:

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. As a standard and well equipped music school that is centrally located, we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.

Some of the threats that we are likely going to face as a music school operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power. 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.

Music School Business Plan – MARKET ANALYSIS

  • Market Trends

If you part of the people keeping tabs on the trends in the Fine Arts Schools industry, you will agree that the industry has developed a creative edge over the last half a decade. 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.

In addition, still-high unemployment brought strong demand from a larger number of individuals who were out of work. In the next half a decade, the industry revenue is expected to further improve due to stronger investment returns from endowment funds and higher tuition revenue amongst other factors.

The Music Schools industry growth was hindered early in recent time as the recession set in and the economy slumped. 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.

Going forward, the industry is expected to grow at an even faster rate. A robust economic recovery is expected to endow consumers with higher disposable income levels, enabling them to spend more money on musical instruments training, particularly costly private lessons. In addition, the popularity of music in the United States will continue to drive demand for the industry’s services.

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. 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.

  • Our Target Market

The target market for a music school is broad and of course all encompassing. 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.

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).

We are coming into the music school industry with a business concept and company’s profile that will enable us work with the clients at different learning stages and different status. Below is a list of the clients that we have specifically design our music school for;

  • Aspiring musicians
  • Choristers
  • Working Class Adults / Corporate Executives
  • Sport Clubs
  • Kids
  • Business People / Entrepreneurs
  • Government Officials
  • Celebrities
  • Public Figures
  • Schools
  • Sports Men and Women
  • College Students

Our Competitive Advantage

No doubt, the music school industry is indeed a very prolific and highly competitive industry. Clients will only enroll in your music school or hire your services if they know that you can successfully help them learn and practice various musical instruments of their choice effectively.

We are quite aware that to be highly competitive in the music school industry means that you should be able to deliver consistent quality trainings, your students / clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.

Maestro Melody Music School®, LLC might be a new music school in Palm Beach – Florida, but we have a team that are considered experts in the music school industry, a team with excellent qualifications and robust experience in professional musical instruments trainings and practices.

Aside from the synergy that exist in our carefully selected faculty members, our state of the art musical instruments and our strong online presence, Maestro Melody Music School®, LLC is well positioned in a community with the right demography and we know we will attract loads of individual and corporate clients from the first day we open our doors for business.

Lastly, our employees (musical instruments instructors and coaches) will be well taken care of, and their welfare package will be among the best within our category (startups music schools in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Music School Business Plan – SALES AND MARKETING STRATEGY

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.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Maestro Melody Music School®, LLC.

We will also ensure that our students become experts when it comes to playing various musical instruments; we want to build a standard and well – equipped music school brand that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

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.

Maestro Melody Music School®, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • 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.
  • Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
  • Use friends and family to spread word about our music school
  • Post information about our music school and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
  • Placing a small or classified advertisement in the newspaper, or local publication about our music school and the services we offer
  • Using referral networks such as agencies that will help match students and corporate clients with our music school
  • Advertise our music school in relevant entertainment magazines, newspapers, TV stations, and radio station.
  • Attend music concerts and related expos, seminars, and business fairs et al
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied students

Sources of Income

Maestro Melody Music School®, LLC is established with the aim of maximizing profits in the music school industry and we are going to go all the way to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

Maestro Melody Music School®, LLC will generate income by offering the following services;

  • Providing instructions and training on music and how to play various musical instruments
  • Merchandise sales (musical instruments, equipment and other accessories)

Sales Forecast

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. This is the major reason why the services of music schools i.e. musical instruments instructors will always be needed.

We are well positioned to take on the available market in the Music Schools industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our music school and our clientele base beyond Palm Beach – Florida to other cities in the United States of America.

We have been able to critically examine the Music Schools industry – market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Palm Beach – Florida.

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;

  • First Fiscal Year-: $150,000
  • Second Fiscal Year-: $450,000
  • Third Fiscal Year-: $850,000

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. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

Generally, for musical instruments training classes, both per hour billing and flat fees on a weekly, monthly basis and contract applies. 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.

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.  In addition, we will also offer special discounted rates to all our individual clients at regular intervals.

We are aware that there are some clients that would need special assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

  • Payment Options

The payment policy adopted by Maestro Melody Music School®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Maestro Melody Music School®, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards / Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

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. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

Music School Business Plan – Publicity and Advertising Strategy

We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. 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.

Below are the platforms we intend to leverage on to promote and advertise Maestro Melody Music School®, LLC;

  • 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
  • Advertise our music school in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our musical instrument instructors cum trainers and other staff members wear our branded shirts and all our vehicles are well branded with our corporate logo et al.

Music School Business Plan – Financial Projections and Costing

In setting up a martial arts school, the amount or cost will depend on the approach and scale you want to undertake. 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.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

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. As for the detailed cost analysis for starting a music school; it might differ in other countries due to the value of their money.

However, this is what it would cost us to start a music school in the United of America;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for Liability insurance, permits and license will cost – $3,500
  • Acquiring a space or warehouse that will be converted into the music school cum studio and that can accommodate the number of students that will come to learn for at least 6 months (Re – Construction of the facility inclusive) will cost – $150,000.
  • Equipping the music school cum studio (various musical instruments, studio floor, sound system, Flat Screen TVs, computers, printers, projectors, furniture, telephones, filing cabinets, and electronics) will cost – $100,000
  • Launching an official Website will cost – $500
  • Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000

Going by the report from the market research and feasibility studies conducted, we will need over four hundred and fifty thousand (450,000) U.S. dollars to successfully set – up a small scale but standard music school in the United States of America. Please note that the salaries of all our staff members for the first month is included in the expenditure.

Generating Funds / Startup Capital for Maestro Melody Music School®, LLC

Maestro Melody Music School®, LLC is a private registered business that will be owned by Duke Edwards and his immediate family members. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings and sale of his stocks
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. 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.

MUSIC SCHOOL BUSINESS GROWTH: Sustainability and Expansion Strategy

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. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Maestro Melody Music School®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

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.

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.

Maestro Melody Music School®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Lease a standard facility for the music school / studios: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the martial arts school: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed musical instruments, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the music school in Palm Beach – Florida: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in various industries: In Progress
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