Beaumont Leys is a suburb in Western Leicester with a population of 16, 480 as at the 2011 census.
The main operation of the project is to partner with the Cooke e-learning foundation which promotes computer and internet literacy skills., English and financial skills for the local community, to provide entrepreneurship and business management skills.
1. BUSINESS PLAN
“THE BEAUMONT LEYS FOUNDATION”
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3. Contents
1.Introduction to the Beaumont Leys Project
2. 3. Main Stages and Timeline of the Project
4. Requirements for Project
5. Management and Control
6. Funding
7. Competitive Features of the New Project
8. Market Analysis: Vocational Education in the UK
9. Implementation Strategy
10. Marketing Strategy
11. Risks
12. Financial Forecasts
13. Challenges and Ethical Issues
14. Conclusion
4. Introduction to the Beaumont Leys Project
Beaumont Leys is a suburb in Western Leicester with a population of 16, 480 as at
the 2011 census.
The main operation of the project is to partner with the Cooke e-learning foundation
which promotes computer and internet literacy skills., English and financial skills for
the local community, to provide entrepreneurship and business management skills.
The mission of the proposed project is:
“To incorporate an entrepreneurship and business management course within the
existing Cooke e-learning foundation to diversify the base of services offered within
the facility”
A focus on entrepreneurship and business management is intended to lead to
employment creation, productivity growth and produce and commercialize high-
quality innovations.
5. Description of existing Project
The Beaumont Ley’s project is a relatively novel idea that was actualised in 2013
by Martin Buchanan and a team of his associates.
It was established to bridge the gap in the number of active community groups
where individuals will be able to find operating capital, free-space and support for
personal development.
The group also focuses on raising aspirations of children, improving healthcare
outcomes and transforming the city.
The group targets young and old individuals at the same time, hence has no
specialisation on a specific group
It works via collaboration with state institutions to achieve these outcomes.
6. Summary of Projects in Description
Project Name Purpose
Barleycroft Community
Centre
Impart computer literacy skills to parents and local residents
Castle Hill Archaeology
Project (CHAP)
The identification of buildings and sites of historical importance
DMU Square Mile Project Initiative to foster development of community groups within the
area.
Future Digital Inclusion Collaborations with UKOnline centres to improve citizens’ digital
skills
English My Way Working with non-native English speakers to provide certification
Moneywise Plus Providing financial management skills
*Business Proficiency
Project*
Provide entrepreneurship and business skills to the community.
7. Timeline of the project
The project was initiated in 3 main various phases:
STAGE 1: A Visit to the Cooke’s e-learning foundation was done to conduct a
feasibility study on the suitability of the project. Information about its general polices
was collected.
STAGE 2: A checklist of the requisites of operationalization of the process were
developed. A risk analysis of the project was conducted with relevant items in
budgeting and planning were conducted. The framed ideas were then presented to the
CEO for opinion.
STAGE 3: The plan will then be submitted for approval after reaching an agreement on
the financial forecasts of the project.
8. STAGE 1
A Visit to the Cooke’s e-learning
foundation was done to conduct a
feasibility study on the suitability of
the project. Information about its
general polices was collected
STAGE 2
A checklist of the requisites of
operationalization of the process
were developed. A risk analysis of
the project was conducted with
relevant items in budgeting and
planning were conducted. The
framed ideas were then presented
to the CEO for opinion
STAGE 3
The plan will then be submitted for
approval after reaching an
agreement on the financial
forecasts of the project
9. Requirements for Project
After consultation with the staff at the facility, the following were found to be of
URGENT importance. It was agreed that further adjustments could be made in the
future.
Premises: The classes will be done on existing premises on Weekday Nights
Labour: 2 Full time teachers, 2 part-time lecturers. A skills audit shows that there are
currently no staff qualified for this
Equipment: Two laptops for tutoring purposes, two projectors, and stationery materials
Facilities: Books for entrepreneurship studies and business management; marketing
facilities (signposts) and billboards.
10. Management and Control
The Proposed facility will be under the ownership and control of the
Cooke’s learning foundation as well as the directors of the Business
Proficiency Project
In this regard, the project will be initiated as an extension of the already
existing learning facility and will be managed by the current CEO
– Martin Buchanan
The project will therefore be incorporated into the program as a charity
initiative registered under the Beaumont Ley’s Charity and Limited
Company
11. Funding
Expenditure Amount per year
(GBP)
Salaries 55000
Marketing 5000
Maintenance 1000
Insurance 1420
Food 4000
Equipment 5000
TOTAL 71420
The total Capital of the Venture during
its first year is 71, 420 GBP
The main source of capital will be via
contributions from community
members in form of a fundraising
event meant to incorporate politicians
and ordinary citizens who feel the
facility will play a big role in the
society.
12. Features of the New Project
The proposed project is specifically developed to:
- Provide both formal and informal training to adults with interest to grasp
entrepreneurial concepts
- Offer community-based instruction that curriculum content is developed to
match the local context
- Offer support on matter related to business start-ups, management and
support for local residents.
- Promote Entrepreneurial culture by providing a platform for incubating
businesses ( a feature that will be integrated with time)
13. Market Analysis: Vocational Education in the UK
hThe graph shows a general decrease in the number of institutions offering vocational education in
the UK. The situation shows the need for establishment of training facilities to cater for the skills gap
in the unskilled and under skilled.
14. Competitors
There are about 10 vocational
institutions in Leicestershire
Most of these facilities are
government sponsored or located in
universities that often have more
resources.
The table on the right hand sides
shows that the UK harbours some of
the lowest costs in conducting
vocational training
Given the charitable nature of the
business venture, the cost
competitiveness will allow the
business to garner more customers
15. Implementation Strategy
Main strategy – “to deliver quality entrepreneurship training at the most
convenient and affordable price
Modules are engineered to integrate the local context as well as offer
individual attention towards learners.
The organisation will dwell on using member and government contributions
to subsidise the price on the erudition program.
Flexible premiums will be drafted, and payment will also depend on the
degree of one’s contribution towards overall societal wellbeing.
Entrepreneurship education will be offered to promote personal
development for a better tomorrow
16. Marketing Strategy
The main marketing strategy will be the use of word of mouth (WOM)
which is described as ‘a face to face dialogue between customers about a
service or product experience’. It will also make the use of e-WOM, which
is statement made by future, current, or former consumers about a
merchandise or business, which is made accessible to a mass of
individuals and establishments via the internet
It will be supplemented the use of flyers, posters, signposts and billboards.
These print methods will be easily available and are affordable for an
organisation that does not have a large capita base.
Costs of advertising will be limited given the small area of coverage being
targeted by the project.
17. Risks
Several risks may plague the project:
1. Lack of Enough Resources – If the initial capital is not met, cutbacks
could lead in a lack of facilities imperative in the school. It has a high
impact in the project.
2. Failure of enrolments - A lack of students means that the school has no
operation. It has high impact on the project.
3. Lack of Teachers – Teachers are instrumental in initiating the learning
process. A lack of teacher due to shortages or resignation could have a
high impact on the process.
4. Man-made and natural disasters- Although the insurance has them
covered, these risks could have a detrimental effect on the project.
18. Financial Forecasts
Before hand, it is important to note that the program is collaborative in nature
and managed by Cooke Foundation and the founders of Business Proficiency
Project.
Therefore, all incomes and expenditure are merged with those of the e-
learning Cooke’s Foundation
The following figures are expected for the project given that the program lasts
for three months at a price of 300 GBP per head.
Furthermore, the breakeven analysis reveals that 358 individuals will have to
enrol for the initiative to become profitable.
Year Income (GBP) Expenditure
(GBP)
Profit (GBP)
1 110200 71420 38780
19. Challenges and Ethical Issues
There were challenges in accessing the foundation’s representatives and work
was primarily carried out via phone calls.
The exact number of institutions offering similar programs is not confirmed.
Additionally, statistics regarding vocational education in the UK are relatively
hard to access.
The researchers were faced with the ethical challenge of maintaining a
balance between community service and profitability. There was a general
consensus that our profit motive was not acceptable within the eyes of all
stakeholder
The initiative was faced by a lack of information particularly in the first stage.
Regulatory concerns have not been well addressed; the researchers are
aware that the development of an educational program is a rigorous process
that engages a number of stakeholders.
20. Conclusion
The project was aimed at incorporating a new education program to
increase knowledge on various entrepreneurial practices and business
management.
The business was designed as a collaborative venture between Cooke’s
Foundation and Beaumont Ley Entrepreneurship project
The lack of similar community-oriented initiatives, as well as cost
considerations, were considered as the main strengths.
The project is under consideration and may be actualised in future.
21. References
1. Blackburn, R. A., Delmar, F., Fayolle, A., & Welter, F. (2014). Entrepreneurship, people and
organisations: frontiers in European entrepreneurship research.
2. Cheltenham (2010). Handbook of research in entrepreneurship education 3, 3. Cheltenham [u.a.],
Elgar.
3. Eurostat. (2016). Entrepreneurship indicator programme. Retrieved April 20, 2017, from
http://ec.europa.eu/eurostat/web/structural-business-statistics/entrepreneurship/indicators
4. Mercieca, M. (2016). Entrepreneurship: delivering the soft skills that drive hard productivity gains.
Retrieved April 12, 2017, from http://www.ee-hub.eu/blog/352-national-policy-framework/32-
entrepreneurship-the-soft-skill-that-drives-hard-productivity-gains.html
4. Kotler, P., Armstrong, G. M., Harris, L. & Piercy, N., 2014. Principles of Marketing. 2nd ed. Upper
Saddle River: Pearson Education.
5. ONS. (2017). UK Labour Market, October 2015. London: Office for National Statistics.
6. Organisation for Economic Co-operation and Development. (2017). Entrepreneurship and business
statistics. Retrieved April 20, 2017, from http://www.oecd.org/std/business-stats/
7. The Cooke e-Learning Foundation. (2017, April 18). The Cooke e-Learning Foundation. Retrieved
from http://celfd.co.uk/: http://celfd.co.uk/
8. The Government of UK. (2016). Enterprise and entrepreneurship. Retrieved April 12, 2017, from
https://www.gov.uk/government/speeches/enterprise-and-entrepreneurship
22. Contact us now
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Editor's Notes
The project is intended to enhance the scope of the work done by the already existing Cooke e-learning foundation.
The introduction of courses on entrepreneurship and business management will still fall under the institution’s main objectives of promoting literacy within the society and will not be a disruptive concept to the already existing program.
Entrepreneurs are imperative in that they stimulate relatively much employment creation, productivity growth and produce and commercialize high-quality innovations. They are an important part of the economy.
The Beaumont Ley’s project is a brainchild of Martin Buchanan to create an integrative community centre that compensates for the lack of community groups within the region.
It works on the outcomes of all stakeholders within the group with multiple programs each aimed at attaining different outcomes as shown in the following page.
Once the plan is integrated with those of the Cooke foundation, it is evident that the foundation will be moving towards holistic integration.
In the modern world, it is safe to say that studies on entrepreneurship and business management are becoming more of a necessity.
The three phase plan was selected due to its simplicity.
It is important to note that the researchers were plagued with numerous challenges in the first stage as they familiarised themselves with the context of the project.
The two final stages were easier after an understanding of the details of the project
A pictorial representation of the process is as shown above.
The
Several resources were required for the project.
The premises were provided by the Cooke foundation since they are not always occupied. In case of capacity increases, expansions will be made in future
Labour is imperative as teachers are needed. The part time teachers will step in when the number of students is high
Equipment and facilities will be purchased onpriority to begin the project.
A joint management structure between Cooke Foundation and the Beaumont Leys Foundation.
It is key to note that the project relies on the Foundation since it is already established.
The project will also be overseen by Martin Buchanan.
Initial capital will be obtained via fundraising.
This will be done as a community event and branded as an initiative whose proceeds will be channelled back into the society.
From the features mentioned, the project will seek to be a cost and quality leader in education.
Localised content will nurture entrepreneurial practices within the learners.
The project may pave way for the development on an ideas incubation centre for both the young and those experienced in business.
The UK, relative to other countries such as Italy, Portugal and Denmark, has seen a reduction in vocational training within institutions.
The competitive landscape seems fair for the business to begin.
The man challenge will be dealing with the resource capabilities offered by the government.
However, the business will compete in terms of price fairness to garner competitive advantage.
The main strategy of the entrepreneurship program will be to deliver quality entrepreneurship training at the most convenient and affordable price.
The curriculum will be customise to meet the local demands.
Flexible payment plans for student will be made; payment will also depend on the degree of one’s contribution towards overall societal wellbeing
The ultimate aim is to promote personal and community development
WOM has been an imperative part of businesses and has been used since time immemorial before the introduction of press and broadcast media.
The advent of the internet heightened the impact and reach of individual opinions, hence increasing the collective influential power via E-WOM.
Traditional methods of advertising will also be used.
The company will be an active listener to the consumers in the market to make streamline the program for maximum enrolment.
The risks are labelled as the main risks. Other risks may include over-enrollement, student failure as well as government restrictions.