Locus Arts and Event Centre
Richardson, Rebecca L.
University of Wales Institute Cardiff
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An Enterprise Project has been undertaken by the researcher, as a final year project, due to their interest in business and management, and an outlook to start-up their own business following the graduation of a degree course. The researcher has recognised the increasing use of art centres as people in the UK are more frequently integrating with arts and culture industries; however it is felt that not enough communities have access to a local facility of this sort, creating a gap in the market. The project aims to assess the feasibility of setting up of an arts centre business venture, and draws a comparison between two potential locations for the business premises (London or Cardiff) to investigate which would be the better option. Firstly the researcher will introduce the business concept that is being tested for this project, and undertake both primary and secondary research to analyse the current market trends, customers, competitors, and industry standards. The following business plan will outline all relevant information regarding the start-up of the proposed business, including the potential revenues and profits (or losses) that are projected for this business. Lastly there will be a discussion and analysis section highlighting all of the key realisations that have been found through conducting the project, leading onto a compilation of conclusions and recommendations as a result of the project. Primary research in the form of interviews and questionnaires concluded that London would be the most suitable start-up location, with 50 % of people saying they would use the arts centre on a monthly basis, resulting in first year net profits of £84,251.
BA (Hons) Events Management
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