Academies Australasia is an institution providing educational services in the English language, Preparatory Certificate, Advanced Diploma, and Diploma. The institution has campuses in Dubbo, Sydney, Gold Coast, Melbourne, Perth, Adelaide, and Brisbane. Additionally, it has a college in Singapore which offers courses that meet the Australian standards. Academies Australasia has a diverse population of students coming from more than 127 countries. As a result, it is able to offer unique learning experiences while acknowledging cultural diversity among students (McKellar, 2017).
Academies Australasia targets students from high school who want to acquire skills in particular fields (Richard, 2015). Also, it targets adults, who would like to improve their skills to improve their opportunities in employment, employers who are interested in offering work-based training to employees and students who are enrolled in College programs like Adult Basic Education (ABE).
Academies Australasia plans to expand to Hobart, Tasmania. Therefore, it hopes to generate a net profit of $3.1m projected to the end of the year 2019. To get this profit, the facility needs to invest $16, 000,000 in the implementation of the plan. Majority of the expenses will cover construction, furniture’s and equipment’s. $10 million of the cost will be funded by the institution. The remaining $6 million will be funded through credit.
To be known as the provider of quality education
To provide good educational foundation for students through empowering them with skills and knowledge.
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Program |
20th May 2008 |
25th May 2008 |
5th June 2008 |
10th, June 2008 |
15th June 2008 |
25th June 2008 |
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1 |
Planning |
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2 |
Analysis |
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3 |
Design |
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4 |
Implementation |
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5 |
Completion |
Academies Australasia is a higher learning institution offering Australian-Standard courses in English, Singapore Government School Preparatory Certificate, Senior High School, Diploma and Advanced Diploma.
Registration Details
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Category |
Details |
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Registration |
Higher Education Provider |
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Status |
Registered |
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Registration Renewal |
26/05/2018 |
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Registration Code |
02439G – VIC |
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Provider ID |
PRV 12112 |
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Trading Name |
Academies Australasia Polytechnic, AMI Education, AAPoly |
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ABN |
28 100 905 182 |
The new branch will be located at Hobart, Tasmania. It covers an area of 1,695.5 km2. It is within the Capital City of Australia. It has a population of 225,000 which is 40% of the Australian population. Hobart is found on the estuary of Derwent River.
Academies Australasia offers full-time and part-time courses at:
The business will be part of the Academies Australia Group Limited (AKG) and will be owned by the following:
AKG holdings are a fair recruitment centre that offers equal opportunities for applicants. Hiring will be based on competency and merit.
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Title |
Number |
Expected Turnover |
Skills |
Date Required |
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Marketing Manager |
1 |
2-2.5 years |
· At least 5 years in Marketing · At least a Bachelor’s Degree in Sales and Marketing |
1/12/2018 |
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Human Resource Manager |
1 |
12 to 18 months |
· At least 3 years in HMN · At least Bachelor’s degree in HRMN · Good listener · God team player |
4/12/2018 |
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Compliance Manager |
1 |
2-3 years |
· At least 5 years in Compliance management · Bachelor’s degree in compliance and policy · Good listener · Work under minimum supervision |
4/12/2018 |
Academies Australasia, Hobart branch will offer training services to students in courses accredited by the Board of Higher Learning in Australia.
Innovation
Academies Australasia plans to form partnerships with other universities in Tasmania and invest in Ph.D. support for staff.
Academies Australasia has appointed FPS, Lonpac Insurance Bhd to protect the amount invested in the project. Therefore, in case the institution cannot continue with the project because of regulatory closure or insolvency, FPS will protect shareholders through compensating them.
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Risk |
Likelihood |
Impact |
Strategy |
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Economic and External factors (Stock market trends, change in the preferences of the market, interest rates, inflation levels and commodity prices |
Likely |
High |
The factors are beyond the control of AKG hence it is hard to determine how they will be addressed (Stewart, 2017). |
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Securities Investments |
Unlikely |
Medium |
Consult stoke-broker, lawyer, accountant and financial advisors immediately (Swani, 2017) |
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Counterparty |
Unlikely |
Medium |
Terminate Contract |
Academies Australasia offers educational training in accredited courses to both youths and adults. It involves enrolling and placing students in the chosen programs. To be part of the institution at Hobart, the students will be required to apply through the organization’s online portal. AKG has a commendable relationship with suppliers (Kozubikova et al, 2017). This will be extended to the Hobart branch.
The business plans to use 60% of its electricity from renewable sources, 60% of cooling and heating from renewable sources and offer 25% sustainable dining food services. Regarding waste, the business plans to achieve 60% diversion on routine operations and 50% 70% diversion for special projects.
Market Research
Academies Australasia conducted both qualitative studies. Through content analysis, the business established the status of polytechnics in Hobart, the gaps, and opportunities available. Prior to the opening of the institution, marketing campaigns will be conducted to make the community aware of the new facility (McKenzie, 2017).
The plan targets both youths and adults living within Tasmania and would like to improve their skills using the various courses to be provided within the facility.
4Ps of marketing
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Item |
Description |
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Product |
· Academic courses · Qualified and experienced tutors · Quality education · Counseling for students |
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Place |
Hobart |
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Price |
Average fees per semester · Diploma: $18,000 · Advanced Diploma: $24,000 · Certificate in English Language Programmes: $22,000 |
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Promotion |
· Media advertisement · Advertising in malls · Advertising in social networking sites and Academies Australasia’s website |
There are 43 higher learning institutions in Tasmania. Among them, there are two international universities while the remaining 40 are public. Admittedly, the cost of public higher learning institutions is relatively cheaper compared to private institutions. This poses a great challenge to the plan.
Porter’s Five Force Analysis
Tasmania is preferred by most international students hence it has a large number of colleges, both national and international (Nicolescu, 2016). Currently, the University of Tasmania has the largest market share in the education industry. This is makes it the main competitor.
Potential New entrants
There are various education facilities in Tasmania that are offering non-traditional programs which are gaining recognition within the community.
The power of suppliers of education has shifted. Today, college professors can conduct lessons through books, videos, seminars, and web pages. This poses a challenge hence Academies Australasia will need to shift to accommodate more students.
Customer’s power
Student’s power has increased since they have a wide variety to choose from. This limits the ability of colleges to change tuitions fees as per their standards.
Threat
There is an increased use of technology in colleges. This limits the market share of organizations that have not sufficiently adopted technology in education.
The College in Hobart targets male and female youths who have completed high school and are interested in acquiring skills in English Programmes, Diploma, and Advanced Diploma.
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Strengths · High-quality faculty · Administration’s work ethic · Location has a good climate making it favourable to many |
Weaknesses · New area · Convincing the community that the institution offers quality courses |
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Opportunities · Online Diploma and Bachelors’ programs · Growth · Developing deeper connections within the Hobart community |
Threats · Increasing the Tuition Cost · Online Diploma and Degree courses |
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Planned promotion/Advertising type |
Expected Outcome |
Cost per month |
Target Date |
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Online Advertising |
· Turn onlookers to learners · Increase awareness regarding the presence of the institution in Hobart |
$12,000 |
10/6/2018 |
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Print Media |
· Increase awareness of Academies Australasia · Attract applications |
$100,000 |
20/10/2018 |
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Direct Selling |
· Attract Applications · Interact with the community (Porter, 2018) |
$10,000 |
20/9/2018 |
The sales team will be supported by the Department of Management and Marketing. The team will comprise of marketing manager, sales Director and others will be determined after the opening (Folta et al, 2016). They will be in charge of selling the services of Academies Australasia to students and parents.
Vision
To be known as the provider of quality education
Mission
To provide good educational foundation for students through empowering them with skills and knowledge.
Goals
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Milestone |
Date of Expected Completion |
Person Responsible |
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Analysis of the organizational needs |
25/5/2018 |
Project Management team and management |
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Target market research |
5/6/2018 |
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Marketing and Promotional activities |
10/6/2018-20/10/2018 |
Sales and Marketing Department |
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Launching of the facility |
20/10/2018 |
Management, shareholders, |
The company focus on providing quality services that will satisfy the needs of its potential customers. Customer satisfaction is a key strategy to maximise sales. Academies Australasia focus on profitability as discussed in this section.
There are three key financial assumptions that have been made by the business. First, the current interest rate is 10%. Second, the long-term interest rate is 13%. And, third, the corporate tax rate is 30%.
Owners of Academies Australasia will incur a start-up cost of $200,000. The money will be used to set up the premises, acquire plants and equipment, starting operations, and start-up capital. The owners have no savings and the entire amount will be obtained through a 10% loan payable in three years. However, the interest on the loan is likely to increase to 12% over the next two years.
According to the projected balance sheet, Academies Australasia will have total assets amounting to $ 7,271,620 as at 2009. The total asset will comprise of $4,901,620 and $ 2,370,000 for current assets and fixed assets respectively. Likewise, total liabilities will amount to $ 1,309,000 (current liabilities) and $ 5,962,620 as capital during the same period.
The profit and loss forecast has been done on a monthly basis. The total sales at the end of 2009 is projected at $ 13,000,000. The business will have a gross profit of $7,570,000 after deducting the cost of sales (Krastev, 2018). Likewise, the total net profit will stand at $ 5,962,620 representing a net profit margin of 46%.
According to the Academies Australasia’s forecasted cash flow, the company will have total closing cash flow of $ 8,637,000.
The company’s average selling price per unit is projected to be $400 per unit while the average cost will stand at $ 150 per unit. Therefore, the company’s gross margin will stand at 63%. With a fixed costs will be $ 1,607,360. The Academies Australasia Company will have to make sales amounting to $ 2,571,808 to break even which translates to a break-even units of 6,430 units.
References
Chambers, I., & Humble, J. (2017). Developing a Plan for the Planet: A Business Plan for Sustainable Living. Routledge.
Dror, S. (2017). Linking operation plans to business objectives using QFD. Total Quality Management & Business Excellence, 1-16.
Folta, T. B., Helfat, C. E., & Karim, S. (2016). Resource Redeployment and Corporate Strategy. Bingley: Emerald Group Publishing Limited.
Krastev, L. B. (2018). PRACTICAL ASPECTS OF FINANCIAL CONTROLLING IN A COMPANY. Economic Archive / Narodnostopanski Arhiv, (1), 3-17.
Kozubíková, L., Homolka, L., & Kristalas, D. (2017). The effect of business environment and entrepreneurs’ gender on perception of financial risk in the SMES sector. Journal of Competitiveness, 8(1).
Macaulay, S. (2018). Non-contractual relations in business: A preliminary study. In The Law and Society Canon (pp. 155-167). Routledge.
McKellar, R. (2017). A short guide to political risk. Routledge.
McKenzie, D. (2017). Identifying and spurring high-growth entrepreneurship: experimental evidence from a business plan competition. American Economic Review, 107(8), 2278-2307.
Nicolescu, O., & Lloyd-Reason, L. (2016). Challenges, Performances, And Tendencies In Organisation Management. Singapore: World Scientific.
Richard, H. (2015). Marketing, Sales and Customer Management (MSC) : An Integrated Overall B2B Management Approach. Berlin/Boston: De Gruyter Oldenbourg.
Swani, K., & Iyer, E. S. (2017). The Impact of the Great Recession on Financial Services Advertising: An Exploratory Study. Services Marketing Quarterly, 38(3), 170-186.
Wahid, A., Ibrahim, A., & Hashim, N. B. (2017). The Review of Teaching and Learning on Entrepreneurship Education in Institution of Higher Learning. Journal on Technical and Vocational Education, 1(2), 82-88.
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