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Small Business Enterprise | Razzamataz Theater School Case Study

Introduction

In the urge to attain immense popularity and higher competitive base, dragons den remains the main hurdle that is to be crossed for reaching the highest pillar of success. Dragons Den remains the most popular platform for nervous entrepreneurs who are going a make a promising start. The show is presented by Evan Davis where five dragons are ready to make cash injection in a business, which turns out to be impressive. Razzamataz Theatre Schools, one of the popular theatre schools that by creating array of opportunities are trying to reach the heart of the students. The word commitment and strong technical knowledge has been the attention grabber and has lead to acquiring investment of 50000 pounds from Duncan Bannatyne.

Task 1 A. Synopsis and performance analysis of Razzamataz Theatre Schools (RTS)

  1. Profile of Razzamataz Theatre Schools

Business name

The name of the business is Razzamataz Theatre Schools.

 Owner structure

The director of the company is Denise Hutton-Gosney

 

Background of RTS

RTS, a UK based theatre school teaches drama, dance and singing at franchised locations. It has been founded by Denise Hutton-Gosney in 2000 In Penrith, England (razzamataz.co, 2017). The school provides array of opportunities and the chances to perform in the Majesty theatre remains the USP of these schools. The school has been set up by the owner, which ran with the ethos of making the children fit and ready to make friends with others.

Activity list

The main activity of the business is basically to operate the dance school and theatre school. The main aim of ........

van Davis where five dragons are ready to make cash injection in a business, which turns out to be impressive. Razzamataz Theatre Schools, one of the popular theatre schools that by creating array of opportunities are trying to reach the heart of the students. The word commitment and strong technical knowledge has been the attention grabber and has lead to acquiring investment of 50000 pounds from Duncan Bannatyne.

Task 1 A. Synopsis and performance analysis of Razzamataz Theatre Schools (RTS)

  1. Profile of Razzamataz Theatre Schools

Business name

The name of the business is Razzamataz Theatre Schools.

 Owner structure

The director of the company is Denise Hutton-Gosney

 

Background of RTS

RTS, a UK based theatre school teaches drama, dance and singing at franchised locations. It has been founded by Denise Hutton-Gosney in 2000 In Penrith, England (razzamataz.co, 2017). The school provides array of opportunities and the chances to perform in the Majesty theatre remains the USP of these schools. The school has been set up by the owner, which ran with the ethos of making the children fit and ready to make friends with others.

Activity list

The main activity of the business is basically to operate the dance school and theatre school. The main aim of the business is to train the youths and children and to perform in the various dance and acting programs. The Razz Theatre Schools deals with all the performing musical arts which include Musical theatre, song and dance, pop singing, street dance, drama and improvisations and physical theatre. Razz Juniors are made for the boys and girls aged between 6-8 years old. They get the chance of learning different forms of dance and are allowed to take part in the annual awards function of the Company and are allowed to take part in the Arts award for discovering and explore levels. Every week the "Star of the Week" is certified (razzamataz.co, 2017).

The company also provides workshops with the industry professionals including stars of West End. The Razz Inters is created for the junior artists aging between 9-11 years old with three hours of equal practice time for the dance and the other activities. The students are allowed to take part in the biannual summer programmers and other local and national programs including the Company's gala performance in the London's West end.

 Location of the business

The location of the business is the United Kingdom

 Weakness

Limited budget

A limited budget is the main weak point for the Razzamataz theatre. The School runs with a limited budget and becomes unable to invest more.

 Particular segment

The school only concentrates on a particular form of dancing and theatrical performance.

 Independent platform

The Company is unable to achieve any independent platform yet after the heart-winning performance at Dragon's den. The company needs continuous backing to perform.

Strict timing

The timing for the practice is very harsh in nature. The timings are long which becomes tiring for some underage students.

Strength

 The biggest strength of the school is the recognition of the performers performing at many programs. The best performers are being awarded certifications. The school also organizes different workshops with the industry professionals which includes stars of West End.

The second strength of the school is the subdivision of teams based on the age of the students. The organisation has many sub-divisions of groups to train different aged students so that they don't get mixed with the other groups.

B. Performance comparison between Razzamataz Theatre Schools and the Swing Petrol

The performance of the Swing petrol at the dragon’s den attracted the investors with their productions. The performance team had lots of energy among the performers along with the contents of their performances. The team had the team spirit and was capable to generate a lot of fun on the stage which made the investors taking decisions to invest (Swingpatrol.co.uk, 2018). The company had the Swing dancers being thrown into the air, Flappers performing the crazy Charleston. The amazing dance troupes and floor shows made them more viable to invest. Not only had this had the company had eye struck makeup styling in regards to the vintage hair. The competition was clearly observed among the team mates. Another important thing which the investors think was important for investment was the easy procedure of learning for the newcomers who learned the techniques easily and in QuickTime (Hackley and Bassiouni, 2018, p.56).

However, the Razzmatazz was chosen for investment because of the enthusiasm and the commitment of the performers, and the sound business idea of the project. Since the time of appearing in the den, the Razzmatazz was able to expand their business and they have been able to send teachers to more than 40 of the countries holiday village. The profit percentage of RTS is relatively lower than its others competitions. At the beginning, they started slowly but they gathered pace as they had immense opportunities in their business. Whereas the swing patrol was also the winner but now they are struggling to exist and facing tough competition from the Razzmatazz. The design of the classes of Razzmatazz was another reason for attracting the investor's mind. The design of the class was made in such a way that even the least interested students started to show interests in the courses. The design is appealing to the students in building their self esteem and self confidence (Spence, 2016, p. 23). The students of Razzmatazz are also getting more opportunities to perform in many programs, whereas the students of Swing Petrol are finding it difficult to perform in the programmes. Many people got surprised to see the scenario of Swing Petrol after winning the investment in the den.

Task 2: Evaluating suitable recommendations by assessing the weakness of Razzamataz Theatre Schools

  1. Recommendation with justification appropriate actions for overcoming the weakness

According to Bruton et al. (2015, p.9), limited budget and lack of independent base remain the main weak point for the theatre. Following recommendation can be adopted by RTS for enhancing the popularity.

1. Tracking resources and teamwork development: The Company needs to prepare a complete track record of the activities that are gaining popularity among the students. In this segment, appropriate budget records and list of petty expenses are to be jotted down. Based on financial KPIs and non Financial KPIs can not only help in detecting the loopholes but also help in maintaining effective teamwork within the organisation.

Figure 1: Effective recommendation

(Source: Created by Author)

As opined by Morecroft (2015, p.24), selection of a particular segment and less popularity among the people are creating a hurdle in creating many star performers. This remained another weak point of this school and following recommendation can be selected.

2. Attractive discount courses and introduction of broader spectrum for performances:

Discount courses and lower fee structure can attract more students. Furthermore, lower fee structure can help the school in reaching students belong to medium income group. Wider customer base can be a tactic for gaining wider popularity among the students. Widening the zoners of dance and theatre forms can attract more students thereby enhancing the income of the school.

b. Analysing the ways in which business performance of Razzamataz Theatre Schools can be strengthened

The team effort and the enthusiasm was the most important factor behind the winning in the event. The school has now expanded their business and also developed the training and course structure for the students. The business school has how many students according to the different age groups.

More investment in the curriculum

The school needs to invest more in the curriculum of the students. The course should be simpler and less lengthy.

Relaxation of the practice timing

 The practice timing of the students should be relaxed in order to reduce the stress falling on the students. The students of aged 6-11 find it hard in the training time. The mind of the students should be relaxed more to bring out the best performances from them. They should not be given pressure regarding the tenure of the practice.

More recognition

RTS should think of more recognition for the performers performing in different programs and more award and certificates should be given in order the boost up the self confidence of the students and the self esteem of the students. The school should organise a number of workshops so that the stars can share their professional experiences with the students so that the students can come across the hurdles and difficulties they faced in their early days.

c. Suggesting new areas in which RTS could expand with reasonable justification

Independent dance platform

 The business should think of getting independent platform as it is impossible to give financial backup every time and if the entrepreneurs do not see any promise in the business in future then they will stop investing in the business because of decreasing profit share of them. The business should create the base for profitability for the investor's more in near future. 

Provide variety of services

The school should focus on providing more number of services and they should train also the other forms of dance like Jazz, Hip Hop, Salsa and many more forms. The students will be more interested to learn newer techniques of dance that would enhance their capabilities to win more awards and recognitions in both the local and national and international programs and also in the gala events where the company is participating (Goss, 2015, p.25).

Expand business in international market

The school should focus not only on the national markets but also on the international markets. The school also should think of capturing the abroad markets as well. The school should hire a number of teachers who are skilled in other forms of dance so  that the students can know the other forms of dance. To capture the international markets the investments on other factors is required.

Task 3: Presenting an analysis of the existing policies and objectives of RTS

A. Detailed assessment of existing plans and objectives of RTS

Existing plans and policies of RTS

RTS has organised different dance schemes for enhancing the sales turnover of the schools. Free taster sessions are the main attractive sessions and less costly sessions that have been introduced by the team of RTS. In this segment, the students who want to join the classes can get free sessions of the dance styles, equipment, singing classes and the daily routine and the facilities are presented (West and Valvi, 2015, p.348). RAZZ Tots, RAZZ Minis and RAZZ theatre schools remained the main element of the existing policies and plans. The school by introducing these schemes is trying to form more energetic and vibrant dancers who deserve full support to show their potential.

 Objectives of RTS

  • To introduce wider spectrum and better platform of dance and singing zones for gaining wider students base and popularity
  • To enhance sales and profit by introducing wider payment options and flexibility
  • To gain popularity among sponsors for gaining funds from sponsorship program

B. Reviewing the plans and suggesting better and effective plans

  • RTS are looking for opening classes for all age group therefore; creation of online platform for promotion can help in reaching more customers. Online platform (instead of offline), for social media, can help in protecting the facilities and the future planning of the business. This can improve the existing plan for introducing new classes by promoting the same in offline mode.
  • Formation of independent base by introducing new attractive proposition can attract sponsors thereby reducing the fund's problem. This plan can be further improved by disclosing the list depicting both the financial reports and the facilities and class schedules provided by RTS.
  • Fitness program and presentation of vibrant and flexible dancers can be formed by introducing new and modern equipment. Furthermore, introduction of discounted fitness package along with dance coaching classes can reduce the problem faced while presenting versatile dancers.
  • Singing and theatre classes can be made flexible by introducing merging programs where combined classes, separate classes at different time can be provided. This plan can reduce the problem of strict class schedule. Furthermore, merging the classes can help to attract more students and the flexible time schedules can help the students to continue their classes after studies.

C. Preparing an Action plan for change implementation

 

Activities

Responsible person

Resources

Result

Deadline

Arrangement of meetings for chance implementation

HR and Marketing team

Meeting expenses and E-Mail sending list expenses

Effective and improved implementation plan presentation

1 week

Launching software and feedback gaining software

Sales and HR team

Software expenses

Sales and profit enhancement by service quality improvement

2 weeks

Planning for new and flexible classes and training program

HR and management team

Training and booklets expenses

Enhancement of number of sponsors

2 weeks

Monitoring  promotion plan for new class launch

Marketing team

Promotion expenses

Sales and profit enhancement

2 weeks

Table 1: Action plan

(Source: West and Valvi, 2015, p.348).

Task 4: Implementation plan for RTS

Executive summary

Proposed changes and the impact of the changes over the personnel of the proposed business remains the main subject matter of this report. Effective planning and introduction of rating scale analysis software have further helped in effective management of this system.

4.0 Introduction

In the era of competitive environment, effective change management brings flexibility within the organisation structure. Flexibility in the organisation structure and effective planning schedule needs to be prepared for creating a wider spectrum of activities by eliminating limited activity list. The report is going to present a well-demonstrated report on a new implementation plan that can improve the efficiency of RTS.

4.1 Finding and analysis

A. Identification of the new change impact over the personnel

Introduction of discounting schemes and introduction of technological software for feedback rating can create a stronger impact on the personnel. According to Yap and Tan, 2017, p.172), training can not only help the employees in understanding the use of the new software but also can improve the employee productivity as a whole. Stronger and stable relationship with the students and the employees can lead to overall enhancement of the operational efficiency of RTS.

Introduction of wider platform for different dance forms can further create an online platform for reaching the hearts of the students (Storey, 2016, p.24).  This further can motivate the personnel in presenting innovative ideas as per the changing preferences of the customers.

B. Effective planning schedule for effective and smooth management of business operation

New technological software implementation requires introduction of training program.

  • Effective and online platform of communication by introducing meeting sessions weekly can help in achieving the desired targets more effectively.
  • Planning and rather pre-planning of the activities that are to be done in the financial beforehand can help in performing the business activities smoothly.
  • Recruitment of sales and customer representatives (experienced) can be the selected and stipulated action of RTS for enhancing the stability in relationship can be the tactics for efficient handling of prolapsed changes.
  • Flexibility and 360-degree feedback gained from the employees and the customers can help in identifying the areas where effective advancements are to be introduced. 

C. Improvements in financial performance for the last two years

RTS, the UK leading dance school has been successful in grabbing investment for arranging Fun and funky classes for Kids within the age group of 2-18(razzamataz.co, 2017). The financial performance team has presented a detailed report showing the trends of revenue earned by RTS. The report states that being a certified member of British Franchise Association ( BFA) the revenue has hit by 318000 euro in 2013(razzamataz.co, 2017).

Figure 2: Financial performance report

(Source: razzamataz.co, 2017)

The report of financial metrics has presented increasing sales turnover report in 2014. In 2014 the group has earned sales of 4000000 euros. The investment by on the dragon has immensely enhanced the popularity of the group. This has further resulted in revenue and profit increase by 10% approximately.

4.2 Recommendation

Free taster sessions have already been introduced by RTS but further improved discounting schemes are linear and flexible discounting schemes can be the suitable and most opted one for RTS (Hackley et al. 2018, p.49). There are several recommendations which can be stated aiming to accelerate business performance of RTS are follows:

Debt reduction and total quality service

In this segment, different payment options like online or offline mode can be selected by the company. Furthermore, discounting options like, flexibility in payment or EMIs (Equal monthly investment) can be opted by the company for attracting more customers on wider scale. Debt reduction and improvement of service quality by developing separate customer handling team can be the most suitable recommendatory step for RTS.

Figure 3: Effective recommendation

(Source: Created by author)

Development of customer feedback rating software

Feedback rating software where the customers can further include their preferences and improvements can help in improving RTS business feasibility. Feedback rating software like, Zonka can record the rates given by the customers for their dance activities launched.

4.3 Conclusion

Presentation of robust implementation plan and identification of the impact over the personnel has been highlighted in the report. The report has further presented an in-depth analysis of the last two years financial reports that have helped in measuring the financial performance of RTS.

Conclusion

Presentation of the key aspects related to the financial or nonfinancial performance metrics has helped in presenting a picture showing qualities of a successful business. The assignment has presented a synopsis of RTS in the first segment of the task. Furthermore, the weakness and strength have presented a performance appraisal synopsis of the company. The assignment has further presented a detailed report on the existing policies so that change management techniques could be selected easily.