Business Plan - The Music Entrepreneur - Music & Event Management - Essay Example

Additionally, it is expected that the session will commence with 8 students who will be required to pay admission and course fee. For the admission fee, each student will be required to pay £100 and £5000 course fee will be required in the first year. In the subsequent year, it has been projected that 25 per cent increase in students is expected which will take number of students to 10. Consequently, this will increase revenue for the next year. As far as the expenses are concerned, it has been estimated that £3000 will be required for purchasing music instruments for the music students.

Subsequently, monthly rent, music teacher salary, heating and marketing expenses are £800, £1500, £200 and £313 respectively will be incurred. The music academic industry is highly competitive as it has been observed that the existing institutions are highly experienced and have hired quality teachers for attracting and retaining a maximum number of music students. In this regard, it is pertinent to highlight that the Music Training Academy will also ensure to provide quality music education and training to the students.

For this purpose, the owner will go beyond the traditional learning and teaching of music education by providing more conducive study and learning environment in the academy. For example, the owner along with the support of teacher will provide quality education services in which the students will be able to receive knowledge and training simultaneously along with information discussion sessions relating to past and current successful music superstars and music artists as well. The purpose of this type of sessions is to ensure that the students get maximum satisfaction in the form of quality music learning and training sessions.

Initially, there will be only two members in the team. The owner will develop the whole training and development course for the music lovers. First, the owner will determine class schedule. In