Business plan for Australia - Management Institute of Training

Goals

Products or services

• Individual support
• Security operations
• Security and risk management
• Diploma in early Childhood and Education care
• 70+ short courses which are focused on developing personal skills, leadership and management
• 80+ courses including Human resource, Professional Development, Sales and Marketing

Intellectual property (IP)

At law, Aust-Management Institute of Training (AMIT) owns all intellectual property which is created by trainers in the course of their duties. It includes course/teaching materials, computer work, research design and outcomes, administrative materials, creative or scholarly work, presentation slides, teaching aids and more. In addition to this, materials which are protected under the Copyright Act 1968, includes:

• written works such as books, editions, articles, newspaper articles, training procedures, reports, compilations expressed in words
• Work created, produced or written by trainers for the purpose of subject delivery
• artistic works including graphics, sculptures, drawings, cartoons, photographs, buildings or models of buildings
• computer programs meaning the written expression of a computer program
• films including advertisements, documentaries and other digital recordings
• sound recordings
• compilations (e.g. broadcasts of television and radio programs including Podcasts).

Locations and outlets

Aust-Management Institute of Training (AMIT), is going to launch its business nearby Pacific Highway of North Sydney in Australia. Students hereby, can enjoy a world-class study experience at the city-side locations of North Sydney, Crows Nest and St Leonards. This location is perfect to attract both domestic and international students as it comes at walk-able distance from their colleges. Along with this, various training institutes are already established here, therefore, providing training with latest technology, highly specialised equipment and with experienced trainers, is enough to gain competition from over them.

Also Read: 

• Developing Individual, Teams and Organisation
• Project Management High Tech Skills An Organization

3. Business strategy

Tactics

To provide quality, relevant and professional training, management of Aust-Management Training Institute will implement following main techniques:

• Consider Key timings: Despite of budget, managers will set aside time for some critical components to work on developing marketing strategy. This would help in generate demand which leads to fill such spaces.
• Use social media: For bringing awareness among students, it is essential to make strong social media presence within various platform of social media. Therefore, managers will develop sites on Facebook pages, Instagram, Tumbler, Twitter and more.
• Implement multi-channel approach: Develop effective product portfolio and featured it on digital, email and social communication which give out at events.
• Become a 'Page one' search result on Google: In order to become first choice of learners and parents, it is essential to be at top most result when they are searching best training centre on google sites.

Resources required to implement above strategies:

• office for operating business and pays for the hire of venues in advance
• phones, faxes and office equipment
• hire staff members who are experts in technical, management and search engine marketing
• Adequate amount of finance and talent

Aust-Management Institute of Training has paid for 2019-2020 operating year:

• workers’ compensation
• insurance – public liability and professional indemnity
• 5 year building on lease in advance
• accountant’s fees

Strategic impact

Since business strategy is not about short-term or long-term goal. It includes addressing those matters which develop innovation in business. Therefore, to create strategic impact, managers of Aust-Management Institute of Training need to build strong presence on social media platform. They will also look for developing stronger product innovation to drive success in business. For this purpose, they will bring latest equipments and hire talented trainers to give best training classes to vocational students.  

E-commerce and technology

In order to enhance business and make it strong presence on social sites, paid traffic is the best way for quickly generating sales for e-commerce store. It is quite affordable and take business to next level by giving advantage to win competition. Thus, by making investment on such e-commerce strategy, aid AIMT in driving traffic as well as closely monitoring the metrics for determining which ads and campaigns can bring desirable result.

Core values

• Provide vocational courses which respond to cater needs of both national and overseas students
• Ability to offer value for money
• Long-term planning and daily attention
• Ability to create strategic partnership among managers and different stakeholders
• Ability to anticipate changing demand of students

Credibility and risk reduction

To improve bottom line of business, managers of Aust-Management Institute of Training will address some important key areas. It includes determining competitive advantages; build credibility, providing a great service standard; developing strategic alliances and a long-term strategic vision to reduce risk. Here, to increase credibility and reduce risk, it is better to offer guarantees, collect feedback of students and services should be provided in extremely efficient manner.

4. My team

Management structure

Management Structure of Aust-Management Institute of Training is basically divided into three main sectors- Marketing, sales and services. Here, role of marketing managers is to create awareness among targeted audience about its services and business value. While, sales managers’ responsibility is to influence more vocational students to take training by its expert team. Along with this, service managers is to give instruction to trainers to cater needs of students as per their demand.

Current team

Retention and recruitment policies

For hiring trainers and other staff members, HR managers of AMIT institute use online recruitment techniques (online). Here, they prepare proper documentations like job description, vacancy for different post, roles and responsibilities, selection criteria (interview and practical procedure), etc. Further, to get staff retention, smart strategies will be adopted. It includes pro-longed, multi-pronged and sustained by giving priority to complete needs of workers first then customers.

Mentors and business support

Aust- Management Institute of Training majorly rely on key business partners and software like Microsoft and SAP to maintain intellectual properties and copyrights.

5. SWOT and critical success factors

SWOT summary

AMIT (Aust-Management Institute of Training) offers a range of courses, ancillary services and programs, which are primarily focuses on developing personal and professional skills. Through face to face training, it provides the professional edge to learners in an increasingly competitive landscape. Similarly, online learning provides flexibility to distant learners to develop their competency through online courses. Due to shortage of resources and funds, respective company may fail to provide training in desired manner to targeted customers. But there are various opportunities available which aid management to enhance customer base. In addition to this, due to intense competition in training sector, it also needs to develop creative strategies also, to attract more customers.

Chosen strategy

To enhance business strengths and gain market opportunity, managers of AMIT Institute always monitor competitive pressures and make adjustment in business strategies accordingly. For this purpose, they mainly used strategic communications, which helps in developing techniques as per changes in demand of customers.

Critical success factors

Making investment in increasing credibility, reducing risk and paid traffic, helps AIMT Institute in developing a strong presence in social media. Along with this, offering more than 80 kinds of training give opportunity to enhance customer base within a year most easily

6. Market research

Primary market research

In order to generate new ideas for giving innovative and highly demanded vocational and management training, a primary research is conducted by management of Aust-Management Institute of Training on students. Here, a sample of 50 students of both national and overseas areas are chosen and take their feedbacks by questionnaire methods. Here, questions are based to analyse how much fees they can pay for getting a particular training in a set-period of time.

Secondary market research

Secondary research is also done by AMIT to gather relevant information from Statistics on demographical basis. Here, through statistical figures and government census report, management of respective institute can analyse profitability ration of other competitors. Along with this, secondary research also give opportunity to analyse competitor's strategy for enhancing their customer base. This would help in developing better strategies to snatch position of established companies and get competitive advantage over them.

7. Market analysis

Market opportunity

Aust-Management Institute of Training (AMIT) establish their business in remote areas where they are easily gain attention of large number of students who are interested in developing their learning skills. For this, they are acquire high income and revenue.

Market structure

Supply chain market structure is followed by training institute which are perfectly fits in the business operations and its functions.

Market size and outlook

In the large marketplace, training institute are capture large number of students who are willing to enhance their knowledge and learning skills. The market outlook are based on past performance, students demand and requirements and opinions of them.

Future markets

For future time period, they are develop attractive website which gain attention of large number of students and also they are provide appropriate training session through which they are easily get desired job.  

Local

Market structure

In local areas, they are open small training institute branches where they are gain attention of more students.

Size and outlook

The market size of Aust-Management Institute of Training (AMIT) is small where very few students are come for attending training sessions.

National

Market structure

At national level, market structure is seen as there are large number of students who are interested to learn new skills and knowledge. So AMIT provide online learning which is flexibility to distant learners to develop their competency through online courses.

Size and outlook

The market size is medium where they are only acquire domestic students.

International

Market structure

In international level, market structure is acquire large number of students from across the boundaries. For this, they are easily develop their knowledge and skills in better manner.

Size and outlook

AMIT provide training sessions to the students of domestic as well as international level and they are gain knowledge through online service and other facilities.

Target market

Target market description

Aust-Management Institute of Training (AMIT) target whole areas where large number of colleges and institutes are established. The potential value of the market is high where they are gain attention of large number of students.

Factors influencing purchasing habits

• 70+ short courses which are focused on developing personal skills, leadership and management.
• 80+ courses including Human resource, Professional Development, Sales and Marketing.

How your business will meet the market’s requirements

By conducting appropriate training sessions, students can gain knowledge and skills for their future requirements. Aust-Management Institute of Training (AMIT) is the institute where students are acquire potential knowledge which are helpful in reaching with desired requirements and needs.

8. Competitor analysis

APM Training Institute Pty,Ltd. (First main competitor)

There is an intense competition in training sector in Australia due to increase in demand of vocational training by both national and overseas students. In this regard, the main organisation which may become threat for Aust-Management Institute of Training is APM Training Institute Pty,Ltd. It mainly offers tourism and hospitality training services, management education and marketing etc.  

Strategy

In order to beat strength of APM Institute and gain competitive advantages, AMIT will provide training in more than 80+ field of education. It mainly emphasised on developing skills and knowledge of trainees to enable them to work in large and international organisation. Along with this, it provides online training also to distance learning students which provide them flexibility to become expert by get online training by its expert trainers.

Safety Corp. (Second key competitor)

Strategy:

To get edge over competition from Safety Corp., AMIT will make more investment on increasing traffic and credibility of business. This would make first choice of targeted audience when they search best training institute on Google.  

9. Financial plan

Aust-Management Institute of Training (AMIT) is financially secure to meet monthly obligations including:

• all equipment required for the continued operation of the business is wholly owned.
• fees are paid by customers either wholly or partially of complete course
• Major expansion needs finance, therefore, it is not considered necessary at initial stage.
• Equipment replacement is factored into business running costs

 Proposed/Budgeted Plan

Start-up costs

To launch business, owners of AIMT will introduce cost near about $500,000.

Funding

As AIMT is a technology driven business, therefore, to raise funds owners will use take loans from commercial banks.

Profit and loss forecast

 Cash flow forecast

10. Marketing strategy

For product designing and pricing, sales and advertising, market business as per targeted audience, managers of AMIT adopt the concept of 4P's of marketing mix strategies, as given below:

• Product –AMIT offers more than 70 short courses and 80 academic courses to build experts and caters the needs of vocational learners.
• Price –It mostly create value of money therefore, offer training on premium price where, customers can paid fees either fully or in instalments.
• Place –To make sure offerings are sold at right place and time to meet target market, AMIT launch its first institute in Pacific Highway, North Sydney. It is surrounded by various colleges therefore, access to students more easily.
• Promotion –To enhance customer base and maximise sales, this institute focuses more on developing strong presence on social sites and promote business over there.

Launch budget

To launch business, owners of AIMT will introduce cost near about $500,000 where $25000 are fixed for marketing expenses, $15000 for sales promotion and $2000 for advertisements, in first accounting year.

Marketing budget

 11. Compliance

Legal and regulatory considerations

Sole trader

• Applied for an Australian Business Number (ABN) – if applicable.
• Registered business name – if applicable.
• Registered for GST – if applicable.
• Registered for PAYG withholding – if applicable.
• Register your domain name – if doing business online.
• Trademarked my business name and brand.
• Applied for the required licenses and permits.

Insurance

To mitigating the risks, AMIT Institute will make insurance plan accordingly as public liability and professional indemnity

12. Assets

Business premises

Take a building on lease in Pacific Highway to operate business. AMIT Institute also pays for the hire of venues in advance for next five years.

IT

Requirements

To develop strong online presence on social media sites and Google, it is essential to AMIT Institute to have a adequate number of websites. This would help in promoting products and services in targeted market more easily. Along with this, to secure training techniques, notes for deliverables and more, this institute has taken patents rights of business ideas and these things.

Solutions

To reduce risk and uncertainty, AMIT Institute has compliance business with all essential regulatory laws and install safety equipments at premises also.

Equipment

Requirements

Tech-labs, anatomy models, automotive technology & collision repair, CNC/Robotics, Green Energy: Solar, Wind & Green Technology, e-Learning programs, Marcraft Educational System, Cloud Technology and more, are some essential equipment of latest versions, installed in business premises for providing best training to students.

Solutions

Hire highly expert members in IT department who will take responsibility to manage and maintain expensive equipments in appropriate manner.

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