Welfare: what type of business am I?

 What type of business am I?-

I am a sole trader. This is due to my business being a fairly small one, as all I need to do is rent a building for around 4-6 hours a week, and then teach students about performing and ways to cope with anxiety and such. A social enterprise is a close second though, as I generally care little for income and only want to help people... but with that being said I still think a sole trader is the route for me.

Welfare: SWOT/ PEST(EL) and logo

 

SWOT analysis-

S- I studied Drama in high school, and as a result have a fair understanding of how theatres work behind the scenes, as well as how to act and perhaps even teach other people how to act. I also have a good understanding of Stoicism and other similar mindsets which aim to help prevent anxiety and other similar things.

W- I haven't ever obviously started a business of my own so I'm of course a beginner to everything that needs to be done, so I may make a few mistakes along the way but that's necessary to move forward.

O- I believe that there is a decent sized market for my idea, as I know that there is a lot of people in the local area that suffer with low-self esteem or anxiety and such.

T- From what I have seen, there aren't any similar theater companies which focus on mental health, especially not in my local area. But, unfortunately, in the current climate with Covid-19, theaters aren't open - and things seem to be only getting worse in general with theaters as the Government has lowered funding and even strongly tried to move people away from the Creative Arts.

PEST(EL) analysis-

P- I will make certain I follow all the Government policy's when it comes to creating my business. I believe my business shall remain politically stable as performing art schools aren't sneered at in anyway. Also with my focus being on mental health, more and more is being done nowadays to help peoples mental health, so I should be stable when it comes to new policies and laws... and if anything the new policies may help me!

E- Hopefully the economy shouldn't have too much of a negative effect on my business. I should be able to cover problems like interest rates as I can't imagine I'd need to borrow too much money to start off my business. I aim to make my business quite small, I never intend on making it an international thing and in all honesty have little care for profit, I simply want enough money to run my business and that is all. A performing arts school for people who struggle with mental health is a gap in the market so perhaps people who would have payed to have a therapist, will now come to my school for help instead.

S- My target audience is fairly small as it focuses on mostly teenagers who struggle with their mental health. Other types of people are of course free to come along, but I doubt many will. I want to have a good impact on society, and be like a safe haven for my pupils.

T- I must keep up with the latest technology to make sure I keep up with any competition. I will make sure to post on social media and try my best to get and keep a positive online presence.

E-  In general, my business shouldn't have much if any effect on the environment as all I shouldn't use much power or anything which can negatively impact society. That being said, I will make certain to be as environmentally friendly with low use in power and such.

L- I will of course follow all laws. Especially labor laws and property laws, as if I hire someone else to work with me, I will make sure they get everything they need. For property laws, I will be renting a building once a week for my business, so I will make sure I follow all laws in that area.

Cultural policy- unfortunately, the government is pushing the creative industries aside. So, my business may suffer a bit... but hopefully not too much.

My logo- 

Welfare: Business plan

Welfare:

Executive summary- Welfare is a safe haven for teens and adults alike who struggle with their mental health, they will learn to express themselves through the art of performing. Boosting their confidence and overall well-being comes first, and with weekly lessons taking place it’s a day in the week to look forward to! 

Business overview- We offer weekly sessions which would run from 4pm to 9pm on Tuesdays, it will cost £15 for each session. It will be led by me, and also perhaps a few other teachers depending on the amount of students that turn up. I will rent out a room/ building in which my sessions will take place. I hope my students will benefit from being part of a community, and make many new friends and leave my class with higher overall well-being.

Sales and marketing- Welfare will make most of it's income from the weekly sessions costing £15 each. I will also have a little cafeteria with food and drink, which is another revenue stream. When it comes to marketing I will start off by telling friends and family about my business, so hopefully they should spread the word around. Then, I will use social media, where I will make business accounts with all my businesses information and highlights, letting people know all about Welfare and where they need to go if they wish to attend it. Being a small business, I doubt I will ever exceed that point of marketing. I have also made a website for my business, in which I will promote my business on. On top of this, I will also use ‘LinkedIn’, and hopefully find an industry professional who is willing to help advertise my business for me.

Operations and resources- Being a school, my operations are fairly simple; I need to ensure there are enough students attending my lessons to ensure it’s financially stable. Also, I will need to make sure that, I, myself can be there every single week without exception, and if there are a lot of students attending I will need to hire other teachers to help me teach. I also need to plan lessons and ensure a safe environment for the students. When it comes to resources, I will need to rent out a building/ room from 4pm to 9pm for Tuesdays. I also need to make sure I get plenty of drama equipment, things such as scripts, costumes and even perhaps a smart board for teaching.

Staff and management team- Being a small business, for the most part I assume I will only need myself when it comes to staff, but if my business becomes more popular I will need to hire some teachers for the weekly lessons. When it comes to the management “team”, it will be just me, at least in the beginning, as again, if my business does become more popular than I anticipate then I will need more management help, but I am currently unsure of who they will be.

Planning- I will need to plan lessons in advance for my students. I will also need to plan the lunch menu, which will be simple things like sandwiches and such. Also, depending on the amount of students which have said to turn up, I will plan for how many teachers I need at the lesson. 

Finances- I will get my money from the students paying for the weekly lessons, as well as the optional lunch menu. Currently, I am unsure if my business is able to be funded by the government as it is a school and works within the realms of mental health care, so if that was the case and the government can help fund my business it would be great and would make lessons cheaper for students and a profit more viable. If not, then there isn’t anything else at the minute which will be bringing a profit. Also, I will fund my business with my own money, and if needed I will ask friends and family for help. If I still need more money after that, I will take out a loan from the bank.

I have also made a spread shit listing all my companies expenditures and incomes-

Welfare: Business Model Canvas