Week 1 Project: Business Plan - Part I

Company Description – The Montessori Homeshoolers Enrichment Center will provide classes for home schooled children to augment their education. One of the biggest hurdles with home schooling is the lack of social interaction with other children their own age. We are going to provide that in a Montessori rich environment where the students will learn what they want at their own pace. The Children’s Theater will be an additional project that falls in line with the home school program.

• Mission – Or mission is to build a fun and educational community for homeschooling families and offer an empowering supplement to alternative education.
• Services – The school will offer two age groups (2-5 and 6-9) a program that will supplement the student’s home school education. This is intended to give the homeschool parents an opportunity for their children to socialize and receive lessons from another perspective. The Theater will prepare and perform a show every 6 weeks with 5-7 shows for each production.
• Development-to-Date – So far we have a location in mind, we are still working with the realtor to negotiate terms with the building owner. We have the basic plan for schedule of both projects and are working on a financial plan.
• Legal Status and Ownership – We are going with a partnership because it is a small business and needs a simple start. Addicus and Jen Patton will be the co-owners.

Operations and Management – The Center will be located in Ewa Beach, HI. The building will be renovated for two classrooms that can accommodate 24 students, a stage area for performances, a play scape outside for outdoor activities and a kitchen for meals and concessions.

• Technology – A web site detailing the programs and show times will be essential to getting recognized and understood. We will need some lighting and sound equipment for the performances. A computer system for the building will be necessary for daily operation to include: Checking in students, applications for new students, and the office management portion of the business.
• Management – Jen will be the program director as well as one of the lead teachers. She will need and office assistant and a classroom assistant. This will help her to be effective in both rolls. Addicus will be the theater manager and will handle the schedule and overall production of each show. The shows will be cast from a core group of volunteer actors and open auditions.
• Key Employees – In the beginning we will do as much of the work ourselves as we can. That being said we understand that we will need at least a few other employees to include:
• Second Lead Teacher (already in talks)
• 2 Assistant teachers (1 already in talks)
• Stage Director and Cast (part time)
• Cook – Part Time (already in talks)
• Office Assistant
• Financial Advisor (filled)
• Key Advisors –As mentioned in a earlier project we have a few friends giving us pointer and guidance on different aspects of this venture:
• Former Employer: Opened and ran a successful a pre-school in southern California.
• Program Director: A friend who runs a Home-School enrichment program located on the other side of the island. Her program is ending at the end of next year because she is leaving the area. She started her program from nothing and has made it an efficient program.
• Financial Advisor: Another friend that homeschools her child and is a financial specialist. She gives us advice and has agreed to help us with the financial aspects of getting the business open. Her child is lined up to be a student at the Enrichment program.
• Realtor: He is helping us find a location that will suit our unique needs and fit into out loose budget.
• Management Structure –
  

Week 1 Practice: Entrepreneurial Readiness

Article 1
Article 2

Thanks
Addicus

Week 1 Analysis: Vision & Scope

This assignment is for my Montessori Enrichment for Homeschoolers

Center that I am currently planning to open with my wife Jen. This assignment is to lay the groundwork for some of the deeper questions that are going to come up in this process. It is to flesh out some of the basic ideas and make us think about what it is we really want to accomplish with the business. By answering these few basic questions we are forced to examine angles of the business that might not occur to us while developing our plan.

What?

• We will be offering the service of “Home School Enrichment”. This gives home schooled children a place to socialize a few times a week while receiving additional education from other teachers. The center will also put on children’s theater productions.
• The Center will be the only Home School Enrichment program in Oahu that offers age ranges from 2-9 and the only stage that is strictly children’s shows.
• Owner’s Role: As the owners Jen and Addicus will be heavily involved in day to day operations. Jen will be the program manager and the lead teacher for the 2-5 age range. Addicus will be heading up the entire theater production.

Where?

• Business will be local to Ewa Beach in Hawaii.
• Customers: Our customers are local to Oahu. It is not a service we can offer online yet. The customers may be military because a lot of military families in the area home school and the site are near 3 military bases.
• Business Operations: We will have everything in the one building. The floor plan allows for an office, two classroom areas, outdoor play areas, and a black box stage area.

Who?

• Customers: The customers are parents that have chosen to home school there kids and understand the need for some type of augmentation to their curriculum
• Strategic Alliances: I am partnering with my wife for the business aspect. We have a few friends and family coming onboard to fill out the teacher requirements and to help get the building ready for business.
• Advisers: We have a friend in California who has opened a pre-school form the ground up that is giving us a lot of advice, another friend that is currently running a home school enrichment program on another island in Hawaii, and a financial advisor.

When?

• Start-up: We plan to open in the mid-2015.
• Facilities: The Facility is the key. We plan to be in by April 2015 so we have some time to renovate and prepare for the opening.
• Systems: A web site and checking system for the students.

Why?

• Owner: Jen is currently running a home school enrichment program out of our home that reached capacity in just two months. There is a obvious need for the program. The children’s Theater is something we have always wanted to do and seemed like a good pairing with the school.
• Customers: Yes. The school is something new and with the amount of home schooled children in the area and the turnover of military families it is a concept that is already getting a lot of attention.
• Investors/Bankers: Investors will be interested because it is a unique business idea and something that will improve the community.

How?

• Financing: I plan to use crowd sourcing, apply for grants, and small business loans.
• Culture: We are a small business form a small town. We want to grow a community with our customers, suppliers and neighbors.
• Personal Beliefs: I believe that small businesses are a great way to enhance the community and build friendships. Because of that we will attract the type of people we want to do business with and grow a civic minded center.

Week 1 Practice: Business Structures

Mind Map is here.

The purpose of the assignment was to learn the different types of business models. This is important because we need to know what our options are when we set up our business plan. Most of us will probably be looking at Sole Proprietorship or Partnerships because they are simpler models and are easier to to going for start ups. 

• Sole Proprietorship
• Has only one owner and is often run by that individual. There is little distinction between the owner and the business.
• Pros: Simplicity in startup, makes taxes easier, and no contracts to worry about with partners.
• Cons: One person has all the liability, not much room for expansion, may seem less legitimate without the formal business structure.
• 3 Real World Business Examples
• Landscaper
• Home Healthcare
• Tutoring

• Partnerships
• Two or more people equally sharing a business. All parties are equally responsible and liable.
• Pros: The responsibilities start up, liability, risks and expenses are all shares. Easier to expand later.
• Cons:  Partnerships are hard on friendships, share liability means picking up someone’s weight if they drop it, shared profits, and shared control of the business’s future.
• 3 Real World Business Examples
• Google
• Apple
• Ben and Jerry

• Corporations
• A company that is its own entity or legally a person. The company is separate from the owners or stockholder. 
• Pros: Owners have limited liability because the corporation is its own entity, It’s easier to attract investors, you can offer stock options to employees.
• Cons: It is time consuming to become incorporated, then there are a lot of formalities required to meet the requirements or a corporation, and taxes are more complicated and may actually be higher because the corporation itself can be taxed.
• 3 Real World Business Examples
• Starbucks
• Target
• Wal-Mart

• S Corporations
• A corporation with less than 100 shareholders that has elected to pass all tax liabilities to the shareholders. This keeps the company itself from any tax responsibilities.
• Pros: Protects that assets of shareholders from debt collectors going after the company, the company does not get taxed, and gives potential investors confidence in the business.
• Cons: As expensive and time consuming as a corporation with upkeep fees, limits types of stock and number of shareholders, and the IRS gives greater scrutiny to filings.
• 3 Real World Business Examples
• Real Estate agents
• Attorneys
• Contraction Contractors.

Week 1 Exploration: Web Designer & Serial Entrepreneur

MCPP Portfolio Project Submission: Chief Pinning

Star Rating Sought:

2 Star

Project Description:

Every year in the navy we promote a few people to Chief. It is a big deal because it is the first Enlisted rank that is equivalent to an officer. I am putting together a DVD of the Promotion Ceremony for this years new Chiefs. 

Link to Deliverable:

Once uploaded I will post the link here.

Feedback Received:

Resources Utilized:

Will update upon completion.