Theatre Workout Academy 1 Page Business Plan
Overview
Theatre Workout Academy has a clear business objective to develop, produce and promote drama classes, workshops and courses. This programme of high quality services have been developed over two years with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
As a key component of our growth strategy, we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
Theatre Workout Academy has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as building confidence, inspiring creativity, and developing essential 'soft' skills, such as communication, teamwork and leadership. We achieve this through teaching drama skills and through providing performance opportunities. This is a critical issue for our selected target market of middle class families who like going to the theatre, and who want to provide creative learning opportunities for children during holidays.
The Value Proposition
Theatre Workout Academy is uniquely positioned to deliver value to our target customers of theatre-going, affluent middle class families, providing structured drama training to challenge, inspire and reward children and young people through drama. In order to be deliver on this value proposition, we have recruited passionate, experienced and trained industry professionals who know first-hand the benefits of drama to a young persons social and educational development.
West End productions choose us to develop and deliver their education programmes because we're brilliant at what we do. We want to give children and young people the same creative and life enhancing experiences we've been lucky to have. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the drama classes, workshops and summer school market. We consider our key competitors to be: West End Stage, Theatre Tots, City Academy, Stagecoach, and Theatre Train. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with West End Stage, Theatre Tots, City Academy, Stagecoach, and Theatre Train by working with major West End productions, theatres and arts centres who choose Theatre Workout because we provide the best theatre experience possible. No other drama school or summer school provider has the same level of industry partnerships to compete with the services we offer.
Key Strategies
Over the next 6 months, our focus will be to develop and promote new courses and training opportunities with partner organisations. This task will be undertaken in the context of our broader strategy to develop marketing plans to attract, engage and inspire new customers. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones.
The milestones that will be achieved over the next 2 years are:
- To launch new courses, workshops and programmes
- To partner with leading venues, such as theatres, arts centres and community centres
- To enrole a regular student body for regular classes
About this document
Drama classes, workshops and courses Business Plan
This document was created by Adam of Theatre Workout Academy using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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