Business Plan for Charlotte Business and Beauty School

Executive Summary

Charlotte Business and Beauty School is a standard beauty school that offers courses in cosmetology and business. It commits to providing a serene and resourceful learning environment to the students who enroll in the courses provided. The courses in this institution will be offered at a fair and affordable price. It will acknowledge and respect diversity, concepts, as well as hard work. As the proprietors of the institution, we have substantial experience in beauty and cosmetology, having been actively involved in the industry for the last decade.

During the long service years, we have established a large client base as a result of our dedication and commitment to serve. We have identified an equally qualified and dedicated team of experienced tutors who will be tasked with the role of training the learners. Our institution has clearly articulated plans for collaborating with the local vocational high schools to offer them the prerequisite hands-on training needed. We have a scholarship arrangement for the high school students that perform well and have an interest in furthering their education after graduation.

Upon commencement, Charlotte will provide beauty and cosmetic knowledge to both young and old learners. It will also offer training in diverse business courses in expertise areas such as management, accounting, human resource, and finance. On one side, the company will be engaged in the provision of quality cosmetology services in hair, nail, and skin. Additionally, the sales of beauty products will be also be incorporated..

We have a firm belief that our commitment to offering excellent training, products, and services will set us apart from competitors. Charlotte Business and Beauty School is located at Savannah, GA.We boast of a strong brand in services delivery and a pool of a robust financial status from the services given, which attract large consumer bases generating much sales and revenues in thecompany. The need to expand and provide more services through offering better services and training of students is driven by the need of the company to become an iconic school of impact in the business and the beauty school by offering quality training to our students in academics and well-shaped aspects of life.

Contents

Executive Summary. 2

Situational Analysis. 4

Market Summary. 4

Market Demographics. 4

Geographic Factors. 4

Demographic Factors. 5

Behavioral Factors. 5

Market Needs. 5

Market Trends. 6

Market Growth. 7

SWOT Analysis. 8

Strengths. 8

Weaknesses. 8

Opportunities. 9

Threats. 9

Competition. 10

Competitive Advantage. 10

Product Offerings. 11

Keys to success. 11

Critical Issues. 11

Marketing Strategy. 12

Mission. 12

Marketing Objectives. 12

Financial Objectives. 12

Target Markets. 13

Positioning. 13

Marketing Tactics. 13

Product 13

Pricing. 13

Distribution. 14

Communications and Marketing Research. 14

Financials. 14

Break-Even Analysis. 14

Sales Forecast 15

Expenses Forecast 15

Controls. 16

Marketing Organization. 16

Contingency Planning. 16

Difficulties and Risks. 16

Worst Case Risks. 16

References. 17

Situational Analysis

The need to accomplish the most relevant resolutions in all stages and aspects of establishing the School, it will be vital to integrate a structured input that enriches the entire process. In this regard, an evaluation, in this case, will entail market research and other critical observations, which will facilitate the decision-making process. It will also enhance the structuring of a strategic market plan, and the assessment of its efficiency.

Market Summary

Market Demographics

In arriving at the final decision, and indeed in the entire decision-making process, the consumers of a specific process are influenced by a myriad of factors. Undeniably, they go beyond those that have a direct connection with the quantifiable features of the product (Dann, 2011). In the same breath, several elements will impact decisions made by the students about joining our institution. Some of these aspects will have both assessable and direct impacts on their assertion, whereas others may only provide clues on the consumption behavior patterns. Nevertheless, some of the essential elements that will be put into consideration include. The geographical, demographic, and behavioral aspects.

Geographic Factors

Without doubt, when a student makes choices on the prospective colleges that they can apply to, location is one of the most critical issues on their list. The School’s position will have significant effects on the student’s experience. Such include the time they take to get to their classes, extracurricular engagements, and internship opportunities. Some learners prefer a school that is close to their parents’ home, which eliminates the need to look for accommodation. There might also be a consideration of the ability to travel home for the breaks if it is located a bit far from their home residence. The area is relatively secure, with a low crime rate.

Our School is in an ideal location considering several factors. Savannah City has a prominent residential area. It boasts of one of the most affordable residential housing regimes in Georgia. Thus, it is home to over a hundred neighborhoods. The students can enjoy a variety of sports and recreational opportunities in the city.

The weather in this area has profound impacts on the students’ decisions. Some learners have special health conditions that might worsen if they live in regions with adverse climatic conditions. The weather in Savannah, GA, is relatively conducive. It can be categorized as a humid subtropical area. It is characterized by prolonged summers that are almost tropical and short mild winters. In its history, only a few cases of extreme conditions such as high temperatures, flooding, cyclones, and vigorous weeds have been reported.  Cape Verde is susceptible to hurricanes and destructive storms. The metropolitan area is an industrial center and has a proper transport network connection to other major towns and cities. The Savannah/Hilton Head International Airport serves as a home to several flight service providers such as Air Canada Express, United Express, and Vision Airlines. For that reason, students who do not reside in the city can easily commute to their homes.

Demographic Factors

In the contemporary world, students are more careful and selective in settling for college. Undeniably, the alternatives continue to increase every day due to the high number of proprietors investing in the sector. Demographic factors have a critical role in psychology, as well as the learning environment (Morgan, 2005). The central demographic features that impact the responses of consumers comprise income, education level, occupation, gender, marital status, age, and psychological factors.

In this regard, Savannah GA is fairly a working-class city. Thus, a significant portion of its residents have either secured well-paying jobs or are conducting profit-making businesses. Therefore, our prospective clients can enroll students in this institution. We have an affordable fee, and the payment schedules are flexible enough to accommodate the needs of individuals who are in the low-income bracket. A significant portion of these residents comprises of young between the age brackets of 20 to 36 years. Undeniably, most of the people that show interest in cosmetology and beauty courses are in this bracket. Adults above the bracket are majorly in the working class.

Nonetheless, there is a trend among senior citizens to take up short business courses such as project management. This can be achieved in their quest to harness skills and augment chances for promotion at their places of work. Therefore, the two critical areas of study our institution dwell on the needs of the broader market.

Behavioral Factors

Lifestyle has a significant impact on consumer choices and their overall behavior. For that reason, we need to have an in-depth understanding of the same. Income, lifestyle, and social classes influence buyer’s habits. Without a doubt, lifestyle reflects one’s pattern and perception of life, which is mirrored in their opinions, interests as well as engagements (Kotler & Keller, 2014). Its portrayal occurs depending on how a person interacts with their immediate environment.

The population in Savannah, Georgia, and the entire United States has increasingly become conscious about their outward look. Members from both genders have openly embraced the services rendered by beauticians and cosmetologists. As a result, spas, salons, and beauty parlors have been established in a majority of neighborhoods. A study conducted regarding this city concluded that beauty services have a significant presence in the city’s market place. Undeniably, there is an existing gap in terms of skilled human resources in this area.

Similarly, people have accepted mainly seeking training in business management skills. With the increase in the number of entrepreneurs in society, there is a rise in demand for training in the same line. Therefore, the expansion of Charlotte Beauty and Business, which is one of its kind in the city, will offer to satisfy the emerging and existing training needs.

Market Needs

Due to the rising demands for cosmetology services, the city of Georgia needs more trained personnel to render these services. Both state and local governments enacted regulatorily and licensing laws for cosmetology and beauty industries. Additionally, private sector beauticians are expected to have also acquired working licenses before offering services. They ought to have met a specific criterion regarding training before getting licensed. As a result, the demand for professional training has increased.

In the last decade, entrepreneurs and business owners have increased in the United States. As a result, competition has intensified significantly. A great deal of budding entrepreneurs has opted to undertake short business courses to revamp and enhance their management skills and capabilities. The most preferred courses include accounting, business management, and project management. Considering that our School will be offering the course mentioned above, we are assured of having a good batch of regular students joining in undertaking the relevant training.

Market Trends

The concept of beauty keeps on evolving all the time. The evolution is mostly triggered by the changes occurring within the society. The sector has to keep up to date with the most recent statistics and trends.

In the last two decades, the beauty and cosmetology industry has evolved a great deal. Indeed, it has been on a tear in the previous ten years. We can argue that it has, and continues to defy gravity. Records indicate that there are at least a thousand institutions that offer professional training in cosmetology, beauty, and aesthetics. The schools offering business courses in the USA are too many that they cannot be fully counted. The beauty sector has been said to raise an approximate aggregate of $1 billion per annum (Kaetabachi, 2019). It also provides jobs to an estimated 20,000 personnel. The gross payroll is estimated to exceed $150 million.

Without a doubt, the sector has undergone maturity. Forbes projects that the estimated incomes will increase at a rate of between 15 and 21 percent in the coming five years. Due to the increasing demands on services and training, more institutions existing and emerging are likely to begin offering related courses to satisfy the requirement. The management of our institution expects a significant enrollment in the coming future. Individuals willing to move to self-employment are more likely to enroll to attain the required criteria for licensing. By considering the current economic environment, cosmetology training services will continue to increase gradually. The current generation of youthful people has prime concern and interests in fashion and good looks. Undeniably, it will cause a boom in the beauty industry.

A Graph showing the cosmetic market size from 2015 to 2025

Image Source: www.statista.com/statistics/243742/revenue-of-the-cosmetic-industry-in-the-us/

It is worth understanding that the growth and survival of the industry are primarily dependent on the demand in the ground. Surveys conducted in different states indicate that individuals and especially from the female gender, visit a beauty service provider at least once in a week. Owners of establishments that only offered hair salon services have learned to integrate other services such as pedicure and manicure. With such development and a stable economy, the sector will continue to enjoy significant growth.

Market Growth

Undeniably, cosmetology consumers mainly include women. For a significant period, they have embarked on an exploratory journey because they are not static and mostly enjoy trying out the new brands and products. There has been a shift among the more massive generation whereby they reject the renowned brands that were preferred by their parents. Instead, they opt for natural, locally-made, and artisanal products. Also, the growth of this industry can be attributed to the popularity and use of social media. For instance, Instagram significantly influences the beauty trends not only in the United States but also in the developing world. Back in 2019, the cosmetic industry in the US was valued to be approximately $100 billion (Danziger 2019). A similar survey indicates that 21 percent of the people in America use organic makeup. The average annual expenditure of cosmetics and beauty services stands at $3000 (Danziger 2019). On this note, an estimated four out of five women religiously follow the trends and also use fragrance products.

SWOT Analysis

Strengths

Lately, the market and demand for cosmetology and beauty care products have increased rapidly. It is, therefore, no surprise that the recent past has been an excellent time for the beauty industries. Even though there has been a question as to whether the towering valuations in the beauty industry will cool off, this industry has had a significant investment due to consistent purchase patterns, recessions, and high margins. As a result, different neighbors across different states have seen the emergence of cosmetology shops, beauty parlors, barbershops, and salons due to the demand for these services. Surprisingly, the need for these services has continued to escalate among both genders. Correspondingly, this projection further suggests that the quest for beauty services will continuously scale up owing to the awareness and impacts of a present physical outlook. Without a doubt, Savannah and the surrounding locations share a similar situation.  Subsequently, the demand for beauticians in different fields has continued to escalate. Nonetheless, a substantial proportion of employers have opted to sign up employees who have a well-trained background as contrasted with those who acquired the skill auxiliary. As such, this guarantees the success of the School’s mission.

The School will have the upper hand compared to other institutions because students below the age of 18 will be admitted. Mostly, this policy will have a high likelihood of attracting a broad base of scholars below the set age limit as opposed to other institutions that have not reviewed this policy. As such, invalidation of this policy will create a platform for scholars to pursue their dreams with limited or no restrictions. Additionally, our School is bound to have significant advantages as a result of a partnership with schools. In this case, such collaborations are essential in boosting performance, and in some cases, the brand name (Dess, 2018).

Nonetheless, our School will offer training programs geared towards creating and improving the School’s perception in the community. This way, students will be oriented about the courses being offered and what they are likely to face in the real world. Thus, this will increase the likelihood of these students to pursue their dream career at our institution over other schools. Using the finances available, the School will put money into ultra-modern facilities. For this reason, prospective scholars will feel more gravitated to sign on to a supportive and contemporary environment. In this case, the recommended site for the School is absolute and was designed to offer scholars easier access to the School’s facilities. The charges are economical, and while the installment plans are kind and pleasant. Without a doubt, this will also be relatively conducive for students who are not financially well-off. The training programs are quite adaptable and comprise of the evening, as well as morning classes.

Weaknesses

On the other hand, a significant portion of existing schools in Savannah is possessed by the rich in this locality. As such, enrollment to schools will induce other institutions’ efforts to create and maintain a healthy competition. This will include the training charges. In ambitious environments, firms often use price competition to force out opponents who charge more for their services or goods (Justina, 2014). Having in mind that these learning institutions have been long established, their training charges can be significantly subsidized.

Additionally, there is a possibility that these institutions could lower the training charges and hence leading to low profitability.  The study found that these institutions run on a comparatively higher operating cost. With scarce funds, the School is likely to encounter significant challenges through its initial years, further impacting its continuity and operations.

Opportunities

Our institution will have access to some openings after its operations are made official. First of all, we look forward to engaging in external and internal collaborations with different partners in the beauty sector. Some of these partners include manufacturers and cosmetology service providers. In regards to the manufacturers, the School looks forward to signing an agreement and acquiring essential equipment for fairer prices. On this note, supplies of these supplies comprise of beauty products, accessories, and machines.

Additionally, we look forward to receiving maintenance services from our machine suppliers at a relatively fair price. Apart from this, the supplying companies will also render supplementary lectures regarding the operation and care of machines. Thus, Charlotte School will collaborate with prevailing service providers in the locality, who provide industrial training to the learners.

Furthermore, the School looks forward to extending its business operations in different ways. Diversification is critical in distributing the risk and expanding the profitability table (Justina, 2014). The School’s management should also examine the idea of extending professional beauty services to the surrounding areas or even in the institution itself. In this regard, styling, haircut among other stylish services can be offered to clients at substantiated prices, further leading to a stream of reliable revenue for the School. Besides, the institution can embrace and incorporate new technology, which will offer better learning experiences for the students. Fourthly, the institution can include e-learning programs for short and more comfortable courses. As such, this will attract students with limited time and those living far from the School.

Threats

Federal and state government agencies frequently offer significant subsidies to learners studying science courses as a way of encouraging more students into this field. In this regard, these subsidies may adversely affect the admission of students in this institution. As a result, legislators have enacted strict measures that are directed towards private facilities. Also, managers ought to consider stipulations laid out to the legal sector and their respective implications while formulating strategies (Dess, 2018). These comprise the effects of thorough licensing, which significantly affect the operations and initiation costs. As a result, these pose a significant challenge to both the services and continuity of the institution.

SWOT Analysis Matrix

Competition

Our institution is the first to offer beauty training in Savannah, Georgia. Therefore, there are no direct competitors within the immediate market that we will be operating. Nonetheless, there are over five institutions within the larger Georgia State. One of them is within a distance of 20 miles from our School’s location. Pride Cosmetology and Hairstyling College has been in operation for the last five years and thus poses a significant threat to our survival. As at present, it has 50 percent of the market share.

In the line of business, we have several immediate competitors within Savannah. Our principal competitors in this area are Georgia South University and Savannah State University. The two institutions have been offering diverse business affiliated courses. Nonetheless, they mainly provide bachelor’s, masters, and doctoral level training. Considering that Charlotte will be offering business training at the certificate and diploma level, we can take advantage of individuals who do not attain the minimum requirements for higher learning. We can also capitalize on our flexible training schedule to maximize on the enrolment for business courses. Nonetheless, considering that ours is a relatively new institution, there is a probability that more learners will prefer the already established learning centers.

Competitive Advantage

Collaboration with other local schools will offer our institution a reasonable edge compared to its main rivals. In this case, this collaboration is put together to recompense society. Despite that, this partnership will further formulate a closer relationship that connects students who aspire to pursue beauty courses and our institution (Justina, 2014). As such, this has created a perfect platform that enables the School to not only market but sell its brand at an efficient and affordable cost. Students who are part of this program have a higher likelihood of enrolling in regular courses. Nevertheless, cost differentiation can facilitate the attainment of dominance.

Product Offerings

Charlotte Business and Beauty School will fundamentally provide education regarding business courses, cosmetology. To supplement the income, we will also delve into the sale of beauty products, as well as other critical learning material. We are also convinced that we will receive a significant number of applicants who are mainly interested in expanding their professional horizons but are already in practice. Undeniably, the number of people seeking cosmetology. As well as aesthetician licenses, had grown in the last five years.

The critical service and product offerings are listed below:

• Tutoring on basic Cosmetology and Aesthetics
• Essentials of hair and beauty techniques
• Tutoring on pedicure and manicure
• Sale of beauty products and cosmetics.
• We wilSale of educational materials, including literature books and training products.
• Business training in accounting, business management, and project management

Keys to success

The School’s organization and management will be executed in an innovative technique to warrant an uninterrupted creation of objectives that oversee profitability and sustainability. Besides, we aspire to uphold esteemed customer satisfaction. It will be attained through the creation of a conducive and serene learning environment, which will promote a high degree of professional development as well as academic fulfillment. We will also provide a pleasant working environment for tutors and other employees. We will offer enticing pay packages and include benefits such as health, vacation, and housing allowance. We will provide permanent and pensionable terms of service to all the workers save for the casuals.

Critical Issues

Different government departments extremely control the education and beauty categories. Therefore, the issues of conformance and quality are every essential in the running of our institution. We have intentions of establishing a quality control department. It will be tasked with the role of ensuring compliance from our side, as well as that of the learners.

Marketing Strategy

We must have a comprehensive game plan that will augment our efforts to reach out to prospective clients and successfully enroll them into our courses, or convert them into customers for the services that we will be offering.We must, therefore, strategize ways of ensuring that will enable us to reach to the various target market through defining our product and services to attract the customers by drafting a market message selling our brand and attracting customers. However, to attract and sell the message to the customers, there is a need for a specific strategy to approach the process of reaching the market. We consider using a variety of means such as positioning of our products and services as the best one can have in the region. Making them superior to our competitors and also through digital and social media marketing strategies, which will enable us to reach a massive number of youths in the region. The use of social media and digital platforms also allows the company to follow up on the responses of the consumers on the services to restructure andenhance them. According to the views and also to create a relationshipwith the customers where they feel part of the company through the interaction and also earn and win their loyalty as well as attracting more new customers for our products and services. Lastly, the companywill use the cause marketing strategy to get customers. And also, sell the services to lure more enrollments in the beauty school through offering free beauty services for a specific period to a particular number of customers, which willspearhead more demand for the product and also showcase the kind of superior services we offer in the market.

Mission

Charlotte School of Beauty has pledged to offer its students a window to accomplish a standard cosmetology and beauty training. Our primary objective is to provide students with a skills-set that is exceptional in the line of practice.

We will maintain our focus on building a highly competitive business and beauty college. We wish to become an institution that will become the top choice for people. Who has an interest in becoming the best cosmetologists, aestheticians, accountants, and business leaders? Our mission is a reflection of our values, which include integrity, service delivery, excellence, and teamwork.

Marketing Objectives

As an institution of tertiary learning, we need to understand the needs, as well as the expectations held by our prospective clients. Our first objective will entail developing a niche for ourselves in the market. Our vision is to become the best training institute in cosmetology and beauty courses. This will be a selling point for the rest of the business courses. The second objective will involve building a strong brand for Charlotte (Bensoussan, 2012). We will work tirelessly towards making our School’s name synonymous with cosmetology training. Our third aim is to communicate through content. We will strive towards training and mentoring students to become big names in the industry. The sharing of student success stories will be essential in promoting the institution’s brand. Also, it aims to augment business sales. Our marketing initiatives will be focused on augmenting awareness of the products and services we offer through diverse avenues. As a result, the enrollment numbers will increase significantly. The last objective entails expanding our brand awareness. We have the dream of spreading our wings beyond Savannah and the state of Georgia. Our sales undertakings will be done to inform prospective clients in many other places about our affordable, excellent, and accredited training services in beauty and business.

Financial Objectives

At Charlotte Beauty and Business school, we expect our enterprise income to increase steadily for three to five years. With the various marketing engagements, we are convinced that we will triple our current revenues. Our sales projections for the first three years are $$95,000, 150,000, and 450,000, respectively. At the optimum, we expect to have an annual net profit of $300,000 by the third year of operation. At that point, the facilities we have will have been utilized fully, including the classrooms, library, and machinery.

Target Markets

Before selecting an ideal location for an institution, it is essential to undertake a feasibility study, as well as a market survey. Our feasibility study enabled us to have a piece of clear information on the prospective students that would enroll for our courses. Besides, the School’s marketing plan carefully analyses the most relevant spheres and further ensures that effective advertisement techniques get through to the right audience.

We have three specific target categories. The first one entails individuals who are already working in the beauty industry but have not met the statutory requirements for licensing. The second one involves individuals in the industry but is willing to learn more skills. Our feasibility study established that a great deal of the beauticians is ready to take part-time courses to diversify their areas of expertise. The third entails fresh high school graduates who are passionate about beauty or business courses. To fortify this area, we have formulated a partnership program that will involve vocational high schools. The fourth group entails business owners and working individuals who have prospects of taking up management courses to harness leadership skills or to increase their chances of promotion at their workplaces.

Positioning

If an institution can establish and maintain a distinctive position relative to the key competitors, it augments its capacity to increase the enrollments. Our positioning strategy will be gradual. The two positioning strategies that we will apply are positioning by attribute and price/quality. We will sell our institution as a technologically innovative school that trains students using the latest technology. We will also offer affordable fees and a flexible payment arrangement.

Marketing Tactics

Product

We will engage in a vigorous advertising campaign to popularize our courses within and beyond Savannah. We have identified social media (Facebook and Twitter) as an ideal advertising platform, considering that individuals in our target markets are significant users on these media. Complementary avenues will include pamphlets, billboards, and banners. These strategies help in penetrating through the market and achieving the goals and objectives of the company.

Pricing

Compared to our competitors in the state of Georgia, we will be offering the most affordable fees to our students. We have also formulated a very flexible payment plan to provide an opportunity for individuals from low-income brackets.

Distribution

Access to the products an enterprise offers is very critical. We are located in an ideal location away from the Central business district. Undeniably, a conducive learning environment should be devoid of any form of pollution, including noise. The main campus is built on a 10-hectare piece of land. It is located in a place with a favorable climate and beautiful scenery. The area has an elaborate transport network, and therefore the learners can easily commute to and from their residential areas. We intend to construct hostels and offer affordable accommodation to the students.

Communications and Marketing Research

Undoubtedly, marketing is a critical part of our entire engagement. It will have a significant implication on the number of enrolments, the revenues, and the ultimate profits that will be obtained. Our management has agreed to outsource this function. We have settled on Planwell Ltd, which is a renowned public relations and marketing firm. The company will be tasked with the roles of marketing, corporate communication. In collaboration with our management, they will define and identify marketing opportunities as well as related problems. The team will be involved in the generation, refining, and assessment of marketing actions that will keep our organization within the map. Planwell will also identify and evaluate the dynamic elements of our marketing mix and their impact on our clientele behavior. It will also be engaged in the monitoring of marketing performance and creating a sustainable marketing strategy that will enhance the continuity of our enterprise.

Financials

Break-Even Analysis

The projected expense per semester is $35,000. Every year has three semesters, and so the total expenditure per annum will total up to $105,000. The revenue projections for the 1^st, 2^nd, and third years are $95,000, 150,000, and 450,000, respectively. It implies that in the first year, the School will not have broken even.

Table Break-Even Analysis

Sales Forecast

An average cost per semester for the various courses will be $250. We are anticipating an initial enrolment of between 130 and 200 students in the first semester. Therefore, the income gained from fees in the first year will be between $95,000 and 150,000. In addition to that, we expect to make sales on beauty and cosmetic products amounting to $1500 per month. That will increase the total revenue to an average of $ 120,000.

With incessant advertising and promotion, we expect that by the third year, our institute will have gained substantial popularity and will attain the optimum student population of 600. As a result, the revenue earned from fees will be $450,000. In addition to that, our annual sales projection for cosmetics in 3 years is $150,000. Therefore, the total income will have increased to $600,000.

Expenses Forecast

The cost of starting the enterprise entirely depends on the approach, as well as the scale. Charlotte will be a medium-sized institute. The materials, as well as the equipment we intend to use, have cost nearly the same from a majority of the vendors.  Below is an elaborate cost analysis for the initial expenses.

Controls

Marketing Organization

Planwell Ltd will handle marketing engagements. The firm will be tasked with the role of formulating and implementing an elaborate marketing strategy. Planwell Ltd will be responsible for coming up with ways to make sure that the objectives of the company are met. Through obtaining customer satisfaction and ensuring that the company maximizes profits from its business and enhances customers both in the market and increase enrolment numbers in the beauty school.

Similarly, Planwell Ltd, as their name goes, needs to construct the internal and organizational arrangement of the company for the possibility of achieving the Charlotte objectives. And help in brand building by selling the right image of the company to the public with also ensuring that the sales of the company are realized to the maximum by increasing revenues and sales of the products and services. The need for the market organization is realigning the organization functions in a structured way to avoid conflict and individual goals balancing with the organizational goals. Since they all hinder the realization of the company goals and objectives in the market, limiting its ability to fulfill its mission and generate revenue.

Contingency Planning

We need to be prepared for any unanticipated occurrences. In any business execution, there are chances of failure even though they rarely occur. Though the risk analysis is carried out, the business needs to have a second plan in case the proposed business initiatives fail to work out with the intended project and goals. The company thus becomes able to deal with any significant future event that may occur or fail to occur. The company, through contingency planning, can manage any risk that may arise and was notanalyzed in the risk management process, which may have consequential effects on the operations and realization of the company goals and objectives. The event of the considerable unforeseen elements that may disrupt or pose a threat to the execution and services of the business are countered through the plan before they affect the company organization and structural organization.

Difficulties and Risks

The local authorities have introduced bureaucratic measures aimed at improving the quality of education. As a result, the licensing and issuance of permits is a lengthy process that might take over four months.The license and issuance pose a threatto the execution of the project since the programcannot initialize without proper documentation, for it would mean a breach of conduct in the law. The delay of four months also puts a constraint on the timeline of the business operations, which makes the business to take more time before executing its intended marketing strategies. The duration of delay in implementing the project gives the competitors a more and great chance for them to come up with more lethal and comprehensive methods to win the market before them disadvantaging the Charlotte since it might require to come up with new strategies to excel and outrun competitors in the market. Also, the delay would cause a change in the market proponents making the drafted and planned market strategy challenging to execute, rendering it useless, prompting formulation of a new one causing the company to incur extra costs. Consequently, the market may change preference and taste in the period beforelicensing and issuance of permits rendering the initial marketing plan worthless. The difficulties caused in the late authorization cost more to the company constraining its budget. Also, the company faces problems and risks from differing ideas from the different stakeholders involved in the business and running of the School, making the realization of a common objective and understanding of the mission difficult. Similarly, a project is considered a failure when it fails to complete within the stipulated completion time.

Worst Case Risks

In case the licensing officers from the education department are not satisfied with the quality due to the state of our facilities, they might deny our institution an operating permit altogether. Therefore itmeans that the institution’s aim and goal of providing quality services and education to the region are not achieved. It also denies the public from enjoying the services from the best they can have in the market, making the competition of the industry low; thus, quality services are not established. The aim of realizing more sales and increasing profits of the company has changed, and the company is left to look for other ventures to participate in the region and also for new commodities and services they can offer to the public. However, this should not deter the company from getting involved in future investments and possibilities might provide. At this point, the company utilizes the contingency planning for the other option in case a business venture and business strategy failed. Though the execution has been unable, the company can always come back the next time having analyzed the market adequately and ensured that they have adequate authorization and have met all the required standards for certification and permit form the education department.