In this work a new idea is proposed, in which the possibility of merging a Restaurant-Bar with a Language School is suggested, this concept may sound strange since it would present mixtures, such as education and liquor, that conflict with the typical idea of what each of these businesses is.
The general objective is to present the business project of a fusion of this style.
launch-of-new-productsThe specific objectives are:
- Carry out a shallow market study that indicates the business possibilities Carry out the SWOT analysis for this type of service Establish the marketing strategies to follow to have a successful business Superficially evaluate the economic feasibility of the project.
For its development, the work is divided into 8 chapters, in which each of the topics that are considered important for it are dealt with.
2. GENERAL DESCRIPTION OF THE BUSINESS
2.1 NAME
The new business is called THE ENGLISH HOUSE, this name was chosen as it brings together several important factors considered as:
- It will operate in a house (with a particular architectural style), which will give it the special touch of social gatherings. Through the name it is intended to convey, in some way, the fact of teaching English In it, only the English language will be used. remembrance for anyone.
- TARGET POPULATION
The main characteristics of the target population are:
AGE: Between 17 and 28 years old
OCCUPATION: College students
UNIVERSITY: Católica, Javeriana, Santo Tomás, Piloto, Nacional, INPAHU, Distrital, La Gran Colombia
SOCIECONOMIC STRATUM: 3, 4, 5 AND 6
PURCHASE REASONS: Localization, Need for English
This population has, for reasons of their professional training, the need to learn English, in addition, they move in the chapinero sector, they have income (they or their families) that allow them to pay for an English course and they are young, who they like new things, complexity and new technologies.
2.2 LOCATION
At a macro level, it will be located in Santafé de Bogotá DC, more precisely in the Chapinero area.
At a micro level, it will be located in the Soledad neighborhood between streets 45 and 39 and between races 19 and 24, this due to the architectural style of the sector that greatly favors the social gathering environment that the business wants to give. Another reason is the strategic location of the sector since it is close to several universities such as: Universidad Católica de Colombia, Universidad Nacional de Colombia, Universidad San Tomás, Pontificia Universidad Javeriana, Universidad La Gran Colombia, INPAHU, among others. (See annex 8)
Below is a point rating table that shows the convenience of locating in this area:
| Factor | Weighing | Chapinero | points | Center | points |
| Target market size | 25% | 5 | 1.25 | 5 | 1.25 |
| Target market location | 25% | 5 | 1.25 | 5 | 1.25 |
| Architectural design | twenty% | 5 | 1.00 | 3 | 0.60 |
| Close competition | fifteen% | 5 | 0.75 | 3 | 0.45 |
| Security | 10% | 4 | 0.40 | two | 0.20 |
| Cost of utilities | 5% | 4 | 0.20 | 4 | 0.20 |
| TOTAL | 100% | 28 | 4.85 | 22 | 3.95 |
The rating is from 1 to 5, with 5 being the best and 1 being the worst. Only the comparison with the Central sector is shown, since it meets the characteristics of the target market (a large number of universities located in it).
2.3 COMPETITORS
Our business has no competitors in the area, since no establishment offers its customers a service that integrates a Language Academy with a Restaurant-Bar.
The institutions that could satisfy some of the needs of our potential clients are language schools such as: The English Council, Centro Colombo Americano and Berlitz, but they do not offer the Restaurant-Bar service or offer their clients comfortable prices such as our bussines.
The aforementioned establishments have a very high level of positioning within the Language Academy market, they also have great experience and capacity, which is why they become very strong competitors. The factor that makes them "distant" competitors is their location, since none of them has headquarters in the sector, in addition to the already mentioned lack of services such as a restaurant or bar.
Restaurants do operate in the area, there are some renowned ones like the Chalet Suizo and Mr. Lee or the CARULLA restaurant itself. There are others of good size such as China Jardín, Sopas carnes y Sazón, El Pueblito Paisa, but all of them are not directed towards the same target market, their prices are high and they are far from some of the universities that generate the potential market for our bussines.
There are others dedicated entirely to the student population, which are located on the periphery of the universities and, others located in the Palermo, La soledad, Teusaquillo and Belalcazar neighborhoods, which do not have a specific segment or fixed clientele, but have a large influx of people.
In the area there are bars with similar characteristics, near the universities it is common to find places that operate under the format of the bar with a bohemian atmosphere. Some of the closest to the business address are El Bulín, El café de la luna lela, La Arcadia Galería Café, Bar la 21, Taberna arte y beer, among others.
The following tables show the main characteristics of the competitors:
LANGUAGE ACADEMIES
| COLOMBO | BERLITZ | COUNCIL | |
| SIZE | Big | Big | Median |
| LOCATION | North and Center | North | North |
| COVERAGE | Local | Local | Local |
| PARTICIPATION | high | Half | Half |
RESTAURANTS
| CHALET | MR. READ | KAISERBIER | |
| SIZE | Big | Medium | Medium |
| LOCATION | In the area of influence | In the area of influence | In the area of influence |
| PRICES | High | High | Medium |
| AGGREGATES | - | - | Pub |
One of each segment is analyzed, the CHALET is located in the high-income segment, the Mr. Lee is a little more popular and the Kaiserbier is dedicated to the student population (Javeriana) but still does not have low prices.
PUBS
| THE BULIN | LUNA LELA | ARCADIA | |
| SIZE | Medium | Little | Median |
| LOCATION | In the area of influence | In the area of influence | In the area of influence |
| PRICES | High | Medium | High |
| AGGREGATES | Shows | Coffee-Book | Gallery |
| PARTICIPATION | Little | Little | Little |
All the competitors have something in common and it is the low or no marketing strategy they exercise, the El Bulín bar advertises its events (concerts by local artists with little experience and low profile) through posters that are posted near the universities of the sector. The Kaiserbier restaurant has notices or banners on the outskirts of the establishment promoting their dishes and prices.
2. 4 SUPPLIERS
Below is a list of the main suppliers with their most outstanding characteristics:
- ENGLISH COURSE
The course material will be directly obtained from the Oxford University Press, a well-known and well-positioned institution, with which you can be sure of finding a high quality in all the material it provides, in addition to not having volume limitations.
- RESTAURANT BAR
In beverages, there will be regular suppliers such as Bavaria, Leona, Postobón and Coca Cola, in addition to Representaciones Continental (distributor of the Cundinamarca Liquor Company), Seagram de Colombia SA (imported liquors), Comercial SM & Cia. Ltda. (Liquors national and imported).
In the food area there will be: Dissantamaría SA (meat, chicken, dairy), Margarita (snacks) and naturally Corabastos and the Plaza de Paloquemao for general purchases (groceries in general).
- BOOKSTORE
Providers such as Mc Gaw-Hill Interamericana (technical texts of computing, business, medicine and general interest), Librería Expojurídica (classic works, foreign jurisprudence) and Prentice Hall de Colombia Ltda. (Business, computing, technical and university students in general) among others.
In the magazine section we will work with Grupo Editorial 87 Ltda. (Newsweek, Vanity Fair, Vogue), Distribuidoras Unidas SA (Time, People, Fortune, Accountancy, among others); Magazines such as Harvard Business Review or Strategy & Leadership, will be obtained through online purchases on their websites.
For the commercialization of music on CD or cassette, agreements will be established with Almacenes La Música (all types of music).
Below is a table with the main characteristics of some of the providers:
| ENGLISH COURSE | LIQUORS | FOODS | BOOKSTORE | MUSIC | |
| OXFORD | SEAGRAM | DISSANTAMARIA | MC GRAW | MUSIC | |
| SIZE | Big | Medium | Medium | Big | Big |
| LOCATION | Bogota | Bogota | Bogota | Bogota | Bogota |
| OFFICE | Cra. 28 # 91-96 | In the local | In the local | Cra. 13 # 40-60 | Cra. 7 # 21-62 |
| WAY TO PAY | Credit /
Counted |
Credit / Cash | Credit / Cash | Credit / Cash | Credit / Cash |
| QUALITY | Excellent | Excellent | Excellent | Excellent | Excellent |
2.5 GENERAL DESCRIPTION OF SERVICES
will offer restaurant-bar and English school services, integrating a series of different spaces (added values) such as a library with study room, computer room and conversation room, all of them framed in a new concept of flexible, interactive learning and fun.
2.5.1 RESTAURANT-BAR
The restaurant bar will be located on the premises in such a way that it will fulfill two functions: to serve both the customers who are inside the restaurant and the customers who are in the study room or the conversation room, however for these Last spaces will not be served alcoholic beverages, but hot and cold beverages such as coffee, oatmeal, juices, sodas, etc.
The restaurant will operate from 12:00 to 2:00 pm, although light products such as snacks or cakes will be sold at any time. At lunch hours, the restaurant will offer a menu consisting of meats, pastas, salads, hamburgers, sandwiches and a student lunch. (Look at annex 1)
At the tables, and as a complement to the English academy, there will be individual in which games and didactic exercises are developed aimed at the practice of this language.
The bar will operate from 6:00 pm to 10:00 pm on Monday, Tuesday and Wednesday and the public will be open until 1:00 am on Thursday, Friday and Saturday. All kinds of alcoholic beverages will be offered such as beers, cocktails, brandy, brandy, etc., which are highly consumed within the university population. (See annex 2)
Only alcoholic beverages will be sold at these times.
2.5.2 CONVERSATION ROOM
This space is offered to students as an appropriate place to start conversations with other members of the academy, as a suitable place to review the language in a different way. This room will be available to students throughout the day.
When this space is not intended for conversation, films will be presented in English, with which the aim is to improve the level of understanding of the students.
2.5.3 LIBRARY
This will be a space equipped with books and magazines exclusively in English, which will serve as support in learning the language and are also part of the bibliographic consultation of our students in their different university careers.
In it you will find tables and spaces that are conducive and silent for a study environment without leaving aside the informal atmosphere of the academy.
Inside the library there will be space for the commercialization of books, magazines and music.
In addition, it will be equipped with walkman and CD players for those who want to listen to the records and cassettes on offer, or simply for those who wish to relax listening to some music.
2.5.4 MULTIMEDIA ROOM
The academy will provide the computer service in order to facilitate the use of its multimedia courses for students. In this place, eighteen (18) computers will be available at any time of the day, which will be lent for approximately one hour a day to each student, depending on the demand that is presented for them.
Internet service will also be provided in this room with two additional computers for student inquiries. In it it will be possible to find an instructor willing to advise students with their concerns. This service will cost $ 1000 per hour
- LANGUAGE COURSE
The establishment will offer the possibility of learning and reinforcing the English language, since it is the most widely used in the world and is essential for a good performance in any area of knowledge.
Our students will have a complete interactive English course, made up of a book, cassette and CD-ROM for each level, in which they will find appropriate readings and exercises to gradually develop their command of the language.
There will be three appropriate rooms for conducting directed exercises, the purpose of which is to basically explain the grammatical structure of the language. Its normal capacity will be fifteen students and there will be a margin of five more places for those who did not pass their promotion exam to the next level. All of them will have the advice of a trained teacher to solve all their doubts.
We will have six teachers in total, three for the morning schedule and three for the afternoon schedule. Each of them will have English as their native language.
The academy will offer six basic levels of learning and two advanced levels. In them, two-hour sessions of exercises will be carried out in which a specific topic will be presented to the students, which will be developed jointly between them and their advisor through practical exercises specially designed for each session.
Classes will not have a thematic continuity that makes attendance of two or more sessions in a row mandatory.
To determine the appropriate level at which the student should be placed, he / she will take a qualifying exam before starting their courses at the academy.
It will also offer a semester course to prepare students for the Michigan ECPE and Cambridge FCE exams; These will have an intensity of sixty hours: three hours a day from Monday to Friday for four weeks. For exam preparation courses, attendance is mandatory and you must have an acceptable level of English, which will be determined by means of an exam before starting the courses.
The sessions are scheduled in special hours of two shifts, one in the morning and one in the afternoon for each level. This is intended for students to attend either of the two sessions of the day depending on their time availability. However, attendance at these directed exercises is not compulsory and is a free option for students.
The hours of operation of the academy will be from 6:00 am to 12:00 pm in the morning shift and from 2:00 pm to 10:00 pm for the afternoon shift.
The courses have been designed to last a minimum of one and a maximum of three months per level, as students develop the course at their own pace. The promotion exams from one level to another will be held monthly and students will be able to take them during the three-month term per level depending on their knowledge and the confidence they have to pass the course.
It will be guided by books specially developed by the Oxford University Press for learning the language. This material has a high recognition and is the one that best adapts to achieve the objectives set by the academy.
3. PROOF OF CONCEPT
3.1. SURVEY MODEL CARRIED OUT
LANGUAGE ACADEMY RESTAURANT-BAR:
It is an English school that also has complementary services such as a library, multimedia and internet room, conversation room and restaurant-bar with affordable prices.
The decoration with rustic and homemade furniture provides an informal and comfortable place that transmits to people greater comfort and a cozy atmosphere that invites them to stay in it.
In the academy you can learn English at your own pace through interactive courses at the Oxford University Press, which will last from 1 to 3 months depending on the speed of learning of each student, additionally with the advice of teachers, who will master English as their native language.
- Age:
16 to 19 20 to 23 24 to 27 28 or more
- Do you clearly understand the concept of the restaurant-bar language school?
If not
- Do you think that all the advantages offered by this academy are true?
If not
- Do you understand the benefits that this school offers compared to traditional methods for learning English?
If not
- Do you have any suggestions to present other and better services in the academy?
No Yes Which one? _____________________________________________
- Besides you, who else would participate in the cost of the course?
_________________________________________________________________
- How much would you be willing to pay monthly for a course like the one described above?
100,000 to 130,000 140,000 to 170,000 180,000 to 210,000 More than 220,000
- Would you attend such an academy?
If not
3.2 EXPLANATION OF THE SURVEY AND ANALYSIS OF THE RESULTS
The proof-of-concept survey was conducted with 100 university students between the ages of 16 and 27 from the following universities:
- University of Santo Tomas Piloto University National University Javeriana University
The survey was applied regardless of socioeconomic status, what career they study or the additional activities that the respondents develop. And it returned the following results:
As can be seen, the survey was answered in a greater proportion by people aged 20 to 23 (48%) followed by students between 16 and 19 years (37%) and finally by those aged 24 to 27 (14%), which allows us to say that our study was directed exactly towards the people who will be part of our target population and who we care about knowing the opinion about our business.
- About question No. 2 (understanding the concept) the respondents answered the following:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| YES | 28 | 44 | 12 | one | 85 |
| NO | 9 | 4 | two | 0 | fifteen |
| TOTAL | 37 | 48 | 14 | one | 100 |
According to this survey, it can be said that the idea of merging the Restaurant-Bar with the English Academy is quickly understood and easily reaches the minds of those who responded.
- For question number 3 (advantages of the academy) the results were:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | MORE THAN 28 | TOTAL |
| YES | 26 | 30 | 5 | one | 62 |
| NO | eleven | 18 | 9 | 0 | 38 |
| TOTAL | 37 | 48 | 14 | one | 100 |
The advantages offered by the academy are perceived with some mistrust (32% do not believe in them), this can be explained taking into account the multitude of poor quality "academies" that offer countless advantages, but which in the end turn out to be overpromised.
- For question four (understanding benefits) the results were:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| YES | 26 | 39 | 13 | one | 79 |
| NO | eleven | 9 | one | 0 | twenty-one |
| TOTAL | 37 | 48 | 14 | one | 100 |
The benefits of the academy compared to others, reach a very good level of acceptance and understanding by the respondents, approximately 80% perceived them in a good way.
The contrast between this question and the previous one is important, people differentiate the product but present, in some way, a shell (in the previous question, almost 40% do not believe in the advantages) or a defensive position in the face of the advantages that present with him.
- For the fifth question (suggestions) the results were:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| YES | 25 | 35 | 14 | one | 75 |
| Specification of interactive activities | 4 | 5 | 3 | 0 | 12 |
| That has a variety of schedules | 8 | 9 | 5 | 0 | 22 |
| Buying and selling books and CD's in English | 6 | 10 | 3 | two | twenty |
| That the course includes cassettes | 5 | 7 | 3 | 0 | fifteen |
| Others | two | one | two | one | 6 |
| NO | 12 | 13 | 0 | 0 | 25 |
| TOTAL | 37 | 48 | 14 | one | 100 |
The suggestions made by the respondents are very valid, since they did not have all the information of the project, however, it is always important to know new concepts and ideas that can be implemented. The vast majority of suggestions received are within the framework of the product.
- From the sixth question (who would pay for the course) it was obtained:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| My family | eleven | 9 | 3 | 0 | 2. 3 |
| My parents | two | 6 | 7 | 0 | 35 |
| My mom | 5 | 4 | one | 0 | 10 |
| My dad | 7 | 8 | two | 0 | 17 |
| Nobody else | two | 9 | one | one | 13 |
| Others | 0 | two | 0 | 0 | two |
| TOTAL | 37 | 48 | 14 | one | 100 |
It can be seen that although the target market or segment is located in the university population, those who would bear the cost of it are the parents of the students. The intention of the question is to discover if advertising should also be directed to another market segment, different from that of university students.
- For question number seven, people would be willing to pay:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| 100,000 to 130,000 | 18 | 22 | 7 | one | 48 |
| 140,000 to 170,000 | 12 | fifteen | 5 | 0 | 35 |
| 180,000 to 210,000 | 5 | 9 | one | 0 | 12 |
| More than 220,000 | two | two | one | 0 | 5 |
| TOTAL | 37 | 48 | 14 | one | 100 |
It is almost obvious that people find it more attractive to pay low prices and receive excellent products, this result shows the inclination of people towards "good, pretty and cheap ".
- The eighth question (would attend), people answered as follows:
| AGE | 16 to 19 | 20 to 23 | 24 to 27 | OVER 27 | TOTAL |
| YES | 26 | 32 | 10 | 0 | 68 |
| NO | eleven | 13 | 4 | one | 29 |
| Undecided | one | 0 | two | 0 | 3 |
| TOTAL | 38 | Four. Five | fifteen | one | 100 |
The intention of the question is to reveal whether or not the respondent liked the idea that was presented, although the result was not unanimous, it can be said that the acceptance was high, especially considering that the interviewees did not have more information. than the one displayed at the beginning of the survey on half a page.
4. SWOT MATRIX
4.1 INTERNAL ANALYSIS
- WEAKNESSES:
- The learning method offered by our business is not very conventional. Because we are new to the market, our business has a disadvantage in terms of positioning compared to other competitors in the market. Time to adapt the business and implementation of the strategy. Time to obtain an optimal learning curve. Incipient marketing channels. Due to space restrictions, the number of computers does not keep an adequate proportion with the number of students enrolled in the academy. STRENGTHS:
- The innovative mix of a language school with a Restaurant-Bar and presenting consumers with the opportunity to find all these services in one place. Having a library, multimedia room, conversation room. Flexibility of the courses. New option of food in the sector of good quality at low cost.Ample Capital.Location close to several universities where we can find consumers who like the social gathering environment, and also close to banks and companies whose employees see the need to learn English due to the activities carried out by companies Offering consumers an English course similar to those offered by the most prestigious academies in the market but at a much lower cost.Have the academic support of prestigious international institutions recognized for their quality in the production of texts for the teaching of English.
4.2 EXTERNAL ANALYSIS
4.2.1 THREATS:
- Barriers to entry such as the cost of language courses in other academies where the academic level is not as high The risk of starting a business of this type in current economic conditions The tradition of other important English academies such as Berlitz, The British Council, EF, Colombo-American Center Offering the course on CD-ROM with the clear disadvantage that not all of our students have access outside the academy to computers with multimedia or that whoever owns it knows how to take advantage of the advantages it offers to the maximum. The lack of reading culture in our society. OPPORTUNITIES:
- The need that society is currently seeing to learn English The boom in the use of multimedia and the Internet Target consumers located in the sector of our business whose needs have not been met by any other competitor The lack of a place with the same characteristics regarding to English courses and restaurants that cater to such important consumers as university students.
4.3 HOW TO TAKE ADVANTAGE OF OUR STRENGTHS IN THE FACE OF OPPORTUNITIES:
· The initial capital available to the business allows us to acquire the latest and most appropriate technology that our consumers demand.
- Since the business is based on university students and people who work in the sector, the absence of a place with similar characteristics in this area allows us to take advantage of the full potential of this market. Offer an English course with flexible hours and a different methodology allows us to take advantage of the growing demand for the use of this language. Having a multimedia room allows us to take advantage of the boom in the use of this and the Internet, offering our clients the advantages of an interactive course that allows them to learn at your own pace.
4.4 HOW TO FACE THE MARKET THREATS WITH OUR STRENGTHS:
- Our academy will be located in the high price segment - high quality but distinguishing ourselves by being the ones that offer the most accessible option.The tradition and good name of the main language academies of the city will be counteracted with the use of texts similar to those used by them but presented in a more comfortable environment. The problem of little knowledge and skill in handling computers or multimedia will be minimized through our instructors.
- MISSION - VISION
- MISSION
Our main objective is to provide a new option in learning English, offering students a different space in which not only the grammar of the language is taught, but also the opportunity to practice it and interact with people who have the same objective: to acquire greater security to function in the language. The main activity of the business will be developed by the academy, which will be supported by complementary services such as the restaurant-bar, the library, the multimedia room and the conversation room, which together will be presented as a different option for learning English.
- VISION
To achieve, in the first place, being recognized as the language school that uses the most innovative and effective learning methods on the market and also to become one of the five most important academies in the city.
5.3 BUSINESS OBJECTIVES AND ACTIONS TO ACHIEVE THEM
- Provide a different choice in English learning methods. This will be achieved through flexible hours and the use of the latest technological tools developed for interactive learning. That university students adopt our establishment as a regular place to stay for study and for their leisure time. This objective will be achieved through the installation of comfortable and welcoming environments. That the product remains in force for approximately twenty years through periodic research to establish the needs of the market and to know and appropriate the latest technological advances related to our field.
MARKETING MIX
6.1 PRODUCT
Because this is not a product but a service, its packaging will be reflected in three key characteristics:
The atmosphere that the house will have will be informal and familiar on its first floor, this will be made tangible through the furniture set which will have rustic wooden furniture, wooden floors, virgin wool rugs and imitations of paintings by artists from different schools. Likewise, the facilities will be spacious and comfortable
On the second floor there will be a more academic environment, since there will be located the multimedia room and the rooms for directed exercises. The rooms will have comfortable chairs upholstered in cloth and equalizable arm, acrylic boards, etc. (See annex 7)
The didactic material: Our learning courses will be based on the Main Street package offered by the Oxford University Press, which includes a student book, a teacher book, an exercise book, a cassette and a CD for each level of basic learning. For the two advanced levels, the package called Transitions will be used, which consists of a book for the student, a book for the teacher, an exercise book, a cassette and a CD. (see annex 3)
For the specialized courses in the Cambridge First Certificate in English we will use as support the First Certificate Practiced Test package offered by the Oxford University Press, which consists of two books and a cassette, this will be complemented by the Oxford Interactive Wordpower on CD-ROM. For the preparation courses for the Examination for the Certificate of Proficiency in English, the book offered by the same entity and bearing the name of the exam will be used: ECPE.
Support service available for students: These services consist of academic support by advisers with a high knowledge of English, who will carry out these consultancies and resolve doubts in the multimedia room, in the reading room and in the classroom. conversation.
Our customer service begins with the pre-sale period. This consists of an advertising idea that leads our target consumers to know our services and clearly recognize our business as a new quality alternative suitable for their needs.
Our policy for the sale of the service will be to fully meet the expectations that customers have about it, that is, not to promise more than what we can offer but not to leave out any vital characteristic for an optimal provision of them.
The after-sales process is carried out during the same period of service provision, in order for our customers to achieve a high degree of satisfaction and continue to use our services.
Our innovative learning method offers the guarantee of greater appropriation of the language since the practice that is acquired through the talks facilitates a fluency and security that allow an adequate performance of our students in any setting.
The certainty of the high quality of our products in the language academy is backed by the tradition and good name of the Oxford University Press worldwide. In the restaurant-bar, the constant quality of our dishes and drinks will give our clients enough confidence to continuously use our services.
We have adequate availability in all our services, however we have a deficiency in terms of the number of multimedia equipment available to the public due to the limited space that we have for the multimedia room.
Due to the provision of three different types of services, our store has a highly diversified product portfolio, made up of:
- Three types of courses in the language academy; six basic levels, two advanced levels and two annual preparation courses for the Michigan and Cambridge exams.In the reading room we will have specialized books in the main areas of knowledge, novels, current magazines such as newsweek, time, fortune, among others. In addition to music (always in English) on CDs and cassettes, in the restaurant-bar the product portfolio is made up of the dishes described in the menu and the drink menu attached in annex No. 1 and 2.
- PROMOTION
The promotion of our product will be done through the following channels:
- Direct Marketing: We will send an informative brochure to potential consumers, which will be obtained through databases provided by universities and by the Colombian Institute for the Promotion of Higher Education ICFES. If this is not possible due to the high costs of information or their difficult access, we will resort to the construction of databases by means of surveys applied to university students, where the name, telephone number, address and e-mail. In the brochures you can find the logo of our business, followed by a phrase that invites you to reflect on the need and the way to learn English and the opportunity to find a nice place to have lunch or a cocktail. At the end of the page, customers will be encouraged to visit the facilities,our website or to contact us by telephone. (See annexes 4 and 5)
- Merchandising: Promotions will be carried out using this method in universities, where informational brochures will be delivered on the services that the business will provide. These brochures are similar to those that are sent by direct marketing.
- Sales promotion: We will seek to make commercial agreements with other establishments in order to offer promotional coupons for discounts in those stores to offer them to our students.
We will make discounts of 30% to students who obtain grades above 4.3 in the passing exam of each course during two consecutive courses.
Regarding the restaurant, we will offer ticket sales for students valid for two months and the opportunity to enjoy a Happy Hour schedule from Monday to Thursday between 5:00 pm and 7:00 pm. In it, special events such as concerts and poetry nights will also be presented.
The publicity will be done in radio and written media.
On radio with advertising spots in youth programs in the morning such as "El mañanero" by La Mega de RCN, "El zoológico" by Super Estación and the morning program by Radio Activa. They are intended to reach the target market directly.
It will also be scheduled on La FM in the Julio Sánchez program, with which it is expected to reach the parents of university students, who according to the results of the survey are the ones who pay for the course.
Notices will be made in the press in EL TIEMPO in its Sunday edition, taking into account its wide circulation. With them it is expected to address both students and parents.
For advertising, a monthly amount of $ 5,000,000 will be assigned.
- Interactive marketing: We will design a Web page which will fulfill the functions of informing and selling our services. This will also serve as a means of advertising, since it will present the restaurant menu and the cocktail menu that will be offered at the bar.Due to the type of service sold in the business, it is considered that the sales force does not conform to the promotional needs of the services offered.
6.3 PLAZA
Due to the nature of the service we are providing, we will only use a direct distribution channel which consists of production and commercialization by the service provider, in this case The English House. The direct distribution channel will be the most appropriate to efficiently reach end consumers.
Once the services are operational, we will use email as a means to make table reservations in the restaurant and in the bar.
6.4 PRICE
The prices for the products of the Restaurant-Bar are very varied, they will be set according to their cost and each one will have different margins according to their cost.
The student lunch will be priced at $ 2,800.
The English course will be priced at $ 260,000 in the first year and will rise taking into account the CPI (15% and 13% are expected for the coming years).
| COST PER COURSE (bimonthly) OF ENGLISH | |
| Material (CD, cassette, books) | $ 40,000.00 |
| Teacher Student | $ 20,000.00 |
| Instructor / Student | $ 1,524.00 |
| Administrative expenses | $ 82,133.00 |
| Indirect costs | $ 60,185.00 |
| Total cost | $ 203,842.00 |
| COURSE PRICE | |
| Profit margin | 27.5% |
| Price | $ 259,898.55 |
| Adjustment | $ 10.45 |
| Final price | $ 260,000.00 |
6.5 PRODUCT LIFE CYCLE
Below is a table that illustrates the projection of the life cycle of the Academia de Inglés Restaurant-Bar:
| INTRODUCTION | INCREASE | MATURATION | DECLINE | |
| PRICE | It will be priced relatively low to compete with the city's well-known language schools, and affordable food and beverages will be offered for the type of customers we are going to handle. | In the growth stage, the prices of our services will remain the same, as we continue to target the same target market, which presents the need for our services at low cost. | At this stage there will be a small increase in the price level of our English courses, due to our good location in the market. The prices of the Restaurant-Bar will continue to be constant since our target market will not be able to assume high increases in the price of our services. | Faced with the decline of our services, it is intended to quickly end the life of the products, leaving the price threshold captured by our clients and decreasing the value of our services, achieving in turn that clients conceive a decrease in the quality of our work and suspend their use. |
| PROMOTION | As it is an introduction promotion to publicize the product, massive direct advertising campaigns will be carried out, which will lead to high costs of the same. | Direct marketing will not be suspended. Various promotions will be presented to our clients for the use of our services, in order to maintain the market that has been achieved. In order to capture the attention of new clients, we will promote our services through the databases already obtained. | During the maturation of our services, the promotional campaign will be weak because we already enjoy a high degree of recognition among the target market. Publicity will only be made through the yellow pages directory and newspaper announcements of the start of our preparation courses for the required English exams for courses abroad. | At this stage of the product life cycle, there will be no promotion of services. |
| SQUARE | Due to the conditions of our service, its distribution throughout its life cycle will be carried out at our business facilities. | |||
| INVESTIGATION AND DEVELOPMENT | At this stage, the first part of the market research has been completed and the service is ready to be presented to the public for the first time. | At this stage there will be no type of change in the products, as it is intended to recognize the reaction of our customers to these and examine their errors and gaps. | After analyzing the response of our customers to our services, the relevant changes or adjustments will be made to improve the quality of our products and appropriate it to the new market demands. | Before the expiration of the products, an investigation can be carried out in which it is sought to establish new business opportunities or give new life to ours, complying with the requirements that the market demands for that time. |
- FINANCIAL ANALYSIS
- SALES
The following assumptions are made:
- PUB
The bar will be open from Monday to Saturday (288 days a year), between Monday and Wednesday it will be served from 6 PM to 10 PM and on Thursday, Friday and Saturday from 6 PM to 1 AM.
In the bar there are 12 tables, each for four people. Sales per table will average $ 50,000 for one night.
- RESTAURANT:
The restaurant, like the bar, will have the same days of service. It will sell 100 daily student lunches each for $ 2,800 and another fifteen a la carte lunches priced at $ 5,000. In addition, $ 100,000 per day will be obtained for the cafeteria.
- ENGLISH COURSES:
The maximum capacity for courses or people studying is 540 (420 on weekdays, 120 on Saturdays), of which it is expected to sell a total of 500 the first year (the price is $ 260,000). The preparation courses for specific exams will have a maximum of 12 students per semester, it is expected that there will be 24 enrolled (these courses will have a price of $ 350,000).
- LIBRARY, CD 'se INTERNET
It is expected to sell $ 40,000 per day for books, $ 15,000 per day for magazines, $ 84,000 per day for CDs and $ 9,000 per day for the INTERNET service.
The following table shows the sales for the first year based on the above assumptions:
| ANNUAL SALES | |
| millions | |
| PUB | $ 172. |
| RESTAURANT | $ 133. |
| ENGLISH COURSE | $ 157. |
| BOOKSTORE | $ 21. |
| MUSIC | $ 30. |
| INTERNET | $ 3. |
| TOTAL | $ 518. |
- NEED FOR SUPPLIES:
The restaurant-bar will need $ 153 million for its operation in the first year.
The English Academy will consume $ 19.58 million in materials (books, cassettes, CD Rom).
The other activities will consume $ 21.3 million.
7.3 LABOR:
The human resources section specifies the personnel needs for the operation. In figures, the amount amounts to $ 152 million in year 1, between direct and indirect labor.
- INDIRECT COSTS:
Public services amount to the sum of $ 14.4 million (with increases of 20% and 13% for subsequent years), equipment and household goods insurance is established as 0.4% of the value of these (not considered increase for this item).
Maintenance is calculated as 0.25% of the total income for each year.
The house lease has a cost of $ 1.4 million per month in the first year, with increases as established by Fedelonjas.
7.5 SALES AND ADMINISTRATION EXPENSES
Administration and sales salaries are specified in the human resources section. Its amount in the first year reaches $ 75 million with increases of 15% and 13% for years 2 and 3.
Depreciation for computer equipment is made in 5 years, for furniture and fixtures in 10.
Advertising expenses reach $ 60 million in the first year with increases of $ 4 and $ 6 million for subsequent years.
- BASIC BUDGETS:
The following are considered:
| BAR AND KITCHEN EQUIPMENT | |
| Bottle rack (30 liters): | $ 800,000 |
| Friomix | $ 600,000 |
| Module (stove, fryer, oven, etc) | $ 1,500,000 |
| Coffee machine | $ 400,000 |
| Crockery and cutlery | $ 192,000 |
| Glasses and goblets | $ 300,000 |
| Pots and others | $ 280,000 |
| BAR RESTAURANT FURNITURE | |
| Bar module | $ 1,000,000 |
| Tables | $ 360,000 |
| Chairs | $ 720,000 |
| ENGLISH SCHOOL FURNITURE | |
| Computer tables with chair | $ 2,200,000 |
| Elizabethan chairs | $ 180,000 |
| Desks | $ 1,980,000 |
| Desks | $ 485,000 |
| Study room tables | $ 282,000 |
| Armchairs | $ 200,000 |
| library | $ 700,000 |
| Total furniture and fixtures | $ 12,179,000 |
| IT EQUIPMENT AND OTHERS | |
| Computers | $ 18,400,000 |
| Maintenance | $ 184,000 |
| TV and VHS | $ 1,000,000 |
| Stereo | $ 800,000 |
| LIBRARY | |
| Magazines, Books, CD's | $ 2,600,000.00 |
In accordance with the above, the investment for these concepts would be $ 35,163 million, to which is added the sum of $ 1,500,000 for the adaptation of the house, $ 2,800,000 to pay the rent for the first two months (demanded by the landlord), 1 million for contingencies, 1 million for business incorporation expenses and $ 15,000,000 as working capital.
With these assumptions, the initial investment amounts to $ 56'463,000.
Annex 9 shows the initial flow and the expected 3-year flow.
- HUMAN RESOURCES
8.1. LIST OF CHARGES
| RESTAURANT BAR | LANGUAGE ACADEMY |
| ADMINISTRATIVE AREA | |
| ú Administrator (2): will be in charge of all the movement of the site. You are responsible for the purchases, the menus, the personnel and the operation of the cash register. | ú Administrator (1): is in charge of the logistics and operations of the academy. She is responsible for the academic area, as well as the staff.
ú Accounting assistant (1): in charge of keeping the accounting in order. ú Secretary (2): one of them will work with the administrator and the other with the marketing coordinators, at the same time they will act as a receptionist. |
| MARKETING AREA | |
| ú Marketing coordinator (2): in charge of drawing strategies, setting policies, making marketing decisions, coordinating the service strategy, etc. | |
| OPERATIONAL AREA | |
| ú Head of kitchen (1): directs the activities in the preparation of the dishes, is in charge of the kitchen assistant.
ú Kitchen assistant (1): performs the activities assigned by the head chef. ú Barman (1): manager of the drinks area at the bar. ú Service assistant: will attend the cafeteria section. ú Waiter (2): in charge of serving the tables. |
ú Professors (6): in charge of advising students during the course hours and in conversation sessions.
ú Computer room instructors (2): their job is to guide students while they are in the classroom. Note: the teachers are, by policy and requirement of the organization, native English speakers " native English teachers " with a professional degree in English or similar. The instructors in the multimedia classrooms may be Colombian, but they will also be required to have an education and a degree in languages, as well as a very high level in terms of oral expression or fluency. |
| Cleaner (2): in charge of maintaining the cleanliness of the entire place. |
| Vigilante (2): responsible for both internal and external security. |
The number in parentheses is the number of people per position.
8.2. WORKDAY
The following table shows the day for each of the positions: (See PDF)
Blue is for those who work the day shift, red is for those who work mostly at night. The green line represents the second shift, but that is mostly daytime.
- The day administrators' day is eight hours, but they will have a contract of trusted employees (which will avoid paying surcharges for longer stays), the same happens with the marketing coordinator. Employees who work at night, will do so in the schedule from 5:00 PM to 10:30 PM from Monday to Wednesday, on Thursday, Friday and Saturday they will be from 5:00 PM to 1:30 AM. The line is placed until 1:30 AM taking into account that it is the maximum departure time The service assistant rests from 2:00 to 4:00 PM, time in which the waiter takes his place The accounting assistant and The waiter works part time, the first from Monday to Friday, the second from Monday to Saturday The cleaner will have an eight-hour shift (six in the morning to four in the afternoon) with a break from 9 a.m. to 10 a.m. and another from 12 to 1 PM,while the guards will have a 12-hour shift each (from six to six).
8.3. HIRING AND SALARIES
- Fixed-term 1-year employment contracts will be agreed with administrators and marketing coordinators. Teachers and instructors will be hired by professional services. Groomers and guards will be hired with companies specialized in these tasks. Other employees will be sought through a company temporary mission.
What is sought with this hiring policy is to minimize labor costs.
Below is a table of salaries:
| RESTAURANT BAR | |
| ADMINISTRATIVE AREA | |
| ADMINISTRATOR | $ 600,000 |
| OPERATIONAL AREA | |
| CHEF | $ 280,000 |
| KITCHEN ASSISTANT | $ 240,000 |
| BARTENDER | $ 550,000 |
| AUXILIARY SERVICE | $ 240,000 |
| WAITER | The one who works during the day will earn $ 170,000, the one who works at night $ 400,000 |
| ENGLISH ACADEMY | |
| ADMINISTRATIVE AREA | |
| ADMINISTRATOR | $ 1,000,000 |
| SECRETARY | $ 550,000 |
| ACCOUNTING ASSISTANT | $ 300,000 |
| OPERATIONAL AREA | |
| TEACHERS | $ 16,000 / hour |
| INSTRUCTORS | $ 480,000 |
| MARKETING AREA (COMMON) | |
| COORDINATOR | $ 800,000 |
| CLEANER | $ 350,000 |
| VIGILANT | $ 350,000 |
Later on, the organization chart of the cleaning and vigilant positions is not included, since they are outside the organization.
8.4. TRAINING
Taking into account that one of the policies of the establishment is that within it only the English language will be used, all employees except for instructors and teachers will receive training in this language, in order to comply with the policy of being an English Building.
- LEGAL ASPECTS
- LEGAL REQUIREMENTS
The process of legalizing the business begins with requesting a Land Use Concept through an Urban Curator, who will issue a certificate stating the convenience and legality of establishing this type of business in the chosen area. The cost of this procedure for the Teusaquillo locality has a value of $ 91,432.
When the Urban Curatorship gives an affirmative concept with which the assembly of the business is approved, the registration of the Industry, Commerce, Notices and Boards Tax is carried out before the Ministry of Finance of the Mayor's Office of Santafé de Bogotá. This registration process has no cost.
A health concept must be requested at the Local Health Directorate of Teusaquillo. This procedure is a requirement for all types of establishments and has no cost.
The Commercial Registry and the name search are carried out before the Bogotá Chamber of Commerce to verify that the business name is not already registered with this entity. The registration and name search form has a cost of $ 2,000 each, however the registration process has no cost at all.
A payment must be made to the Society of Authors and Composers of Colombia and the Colombian Association of Interpreters and Phonographic Producers SAYCO and ACINPRO, which has an approximate value of $ 650,000 per year for the Teusaquillo area.
The establishment must also be registered with the Vice Ministry of Tourism since we offer the Restaurant-Bar service, thus complying with the provisions of article 72 of Law 300 of 1996.
Finally, once all the procedures described above have been carried out, the request for the Resolution of approval by the District Secretary of Education must be advanced.
All the documentation necessary to carry out these procedures is presented in Annex No. 6.
Below we present the minutes of incorporation of the Company and the Articles of Incorporation:
9.2. MINUTE OF CONSTITUTION
In the city of Santafé de Bogotá, Capital District, Republic of Colombia, on the eleventh (11) day of the month of June, one thousand nine hundred and ninety-nine (1999), before my Pedro Pérez notary fifty (50) of the circle of Santafé de Bogotá, Carlos Andrés López Barrera, Aleida Aidee Moscote Peña, Ingrid Corina Velázquez Rueda, Andrés Guillermo Arciniegas, all of legal age and residents of this city of Santafé de Bogotá DC, appeared, identified with identification number that appears annotated at the bottom of their respective signature; and stated:
FIRST: That it is your will, by means of this deed, to establish a limited liability commercial company, called THE ENGLISH HOUSE LTDA. And that will be governed in the future by the following statutes:
FIRST CHAPTER
NAME, DURRATION AND ADDRESS OF THE COMPANY
ARTICLE 1. Company class and name: The company will have the character of a limited liability company and will be called The English House Ltda.
ARTICLE 2. Purpose: The purpose of the company is: 1) The programming, execution and marketing of courses in foreign languages as well as the preparation and marketing of meals for human consumption; and alcoholic and non-alcoholic beverages. 2) the purchase, sale, distribution and marketing of educational material related to the subject already described. 3) The import and export of educational material and other products related to the main purpose of the company. 4) In developing its object, the company may: A) Acquire all kinds of movable and immovable property under any title. B) Dispose of, record, lease and manage company assets in general. C) Intervene in all kinds of credit operations and draw, endorse, accept, discount and negotiate all kinds of securities, negotiable instruments and credit.D) To process all kinds of credit contracts or insurance policies with the establishment of credits and insurance companies. E) Appoint legal and extrajudicial attorneys to represent the company. F) Being a partner or shareholder of other companies whatever their corporate purpose, especially those where similar or related activities are carried out. G) Hire in Colombia or abroad the necessary people to develop the corporate purpose. H) Acquire in Colombia or abroad the didactic material and other elements necessary for the commercialization and execution of their products. I) Represent national or foreign companies that have objects and purposes similar to those mentioned. J) In general, celebrate and execute all kinds of acts or contracts that are required for the fulfillment of the corporate purpose.
ARTICLE 3. Duration: The duration of the company that is constituted by this deed will be thirty (30) years from the day and date of the signature that is constituted therein, that is, it will expire on June 11 of Two Thousand Thirty-Nine (2,039).
ARTICLE 4. Address: The company will have its main domicile in the city of Santafé de Bogotá, but may establish agencies and branches in any other city in the country.
CHAPTER TWO
OF THE CAPITAL AND OF THE RIGHTS AND OBLIGATIONS OF THE PARTNERS
ARTICLE 5. Capital: The initial capital of the company will be Eight Million Pesos M / Cte. ($ 8,000,000) and will be represented in Eight hundred (800) coutas of Ten Thousand Pesos M / Cte. ($ 10,000) each, contributed in equal amounts of Two Million Pesos M / Cte. ($ 2,000,000) for each of the partners. The capital has been paid in full to the satisfaction of the company.
ARTICLE 7. Limits of Liability of the partners: Each of the partners limits their liability to the value of their contributions.
CHAPTER THREE
ADDRESS AND ADMINISTRATION OF THE COMPANY
ARTICLE 8. Direction, Administration and Representation:
ARTICLE 9. The president is responsible for the use of the company name and the representation of the company.
ARTICLE 10. Faculties of the Manager: The functions of the manager are: A) Represent the company judicially and extrajudicially and make use of the company name and company signature. B) Execute any act or contract or operations included within the corporate purpose that are related to the existence and operation of the company without any limitation due to the amount or nature of the operation. C) Constitute attorneys for the defense of the interests of the company. D) Present to the owner (s), (if the case that the management of the company is not in charge), in a session to be held in March, the Annual Balance together with the Income Statement, the distribution project of profits and the report of the work of the annual exercise. E) execute and enforce the owner's provisions.F) Freely appoint and remove all company employees, assign them functions and assignments
CHAPTER FOUR
OF THE RESULTS AND THE DEVELOPMENT OF THE CORPORATE PURPOSE
ARTICLE 11. Profits: From the net profits of each fiscal year, the necessary sums will be appropriated for the payment of the social benefits of the employees, depreciation of assets, amortization of intangibles, doubtful or bad debts, protection of investments, taxes and those that the owner consider necessary or convenient, provided they have a special distinction. From the net profits obtained in each fiscal year, sums necessary for the payment of income and complementary taxes will be appropriated. In addition, the company will constitute the legal reserve of ten percent (10%) of the net profits obtained from each year until completing at least fifty percent (50%) of the capital of the company.
ARTICLE 12. Report: The President will present to the shareholders' meeting, if applicable, a report on the way in which he has carried out his management and the measures whose adoption he recommends to the owners, will accompany the profit distribution project and the documents indicated in the previous article.
ARTICLE 13. Distribution of Profits: Once the reserves referred to in Article Eleven (11) have been made, the surpluses will be delivered to the owners.
ARTICLE 14. Losses: If the company suffers losses, these will be wiped with the reserves that have been specially designated for this purpose, and failing that, with the legal reserve. If the legal reserve is insufficient to cover the capital deficit, the benefits of the following years will be applied for this purpose.
ARTICLE 15. Dissolution of the company: The company will be dissolved: A) By expiration of the term foreseen for its duration or that of its extensions, if it is not validly extended before its expiration. B) Due to the impossibility of developing the corporate purpose, due to its termination or due to the extinction of the things whose exploitation constitutes the corporate purpose. C) By increasing the number of owners to at least twenty-five (25). D) Due to the declaration of bankruptcy or forced liquidation of the company. E) By the decision of the owners adopted in accordance with the law and these statutes. F) By decision of the competent authority. G) For losses suffered by fifty percent (50%) of the capital stock. However, the partners may avoid the dissolution of the company by adopting the measures that may be the case,according to the cause that occurred and observing the rules prescribed for the reform of the statutes, provided that the agreement is formalized within six (6) months following the occurrence of the cause of dissolution.
ARTICLE 16. Liquidation: The company has been dissolved without the necessary measures having been taken to correct the cause that occurred, it will proceed to its liquidation, and consequently it will not be able to start new operations in development of its corporate purpose and it will retain its legal capacity only to conclude pending operations and the necessary acts to obtain the liquidation. The name of the dissolved company must always be added with the phrase "in liquidation."
ARTICLE 17. Liquidator: The liquidation of the company may be done directly by the owner himself, or by one or more liquidators who will be chosen with their respective alternates, by the employer in accordance with the statutory and legal provisions, the liquidators may not act, as such while your appointment is not registered with the Chamber of Commerce. The liquidator or liquidators will perform their functions in accordance with the powers granted or granted by the owner.
ARTICLE 18. Prohibitions: It is forbidden for both the partners and the company to serve as guarantor of obligations of third parties outside the company, unless they report utility to the company, in which case it will require prior authorization from the board of partners.
In conformity:
______________________________
CARLOS ANDRES LOPEZ BARRERA
DC
___________________________
ALEIDA AIDEE MOSCOTE PEÑA
DC
_______________________________
INGRID CORINA VELASQUEZ RUEDA
DC
______________________________________
ANDRES GUILLERMO ARCINIEGAS TORRES
DC
9.3 ACT OF CONSTITUTION
CONSTITUTIONAL ACT
THE ENGLISH HOUSE LTDA.
Being nine in the morning (9:00 AM) on Friday the eleventh (11) of June 1999, at the address Cra. 17 No. 39-15 of Santafé de Bogotá DC; met: Mr. Carlos Andrés López Barrera, a Colombian national and identified with Citizenship Certificate number 79,694,858 from Santafé de Bogotá; Mr. Andrés Guillermo Arciniegas Torres, of Colombian nationality and identified with Citizenship Certificate number 79.877.740 from Santafé de Bogotá, Ms. Ingrid Corina Velázquez Rueda, of Colombian nationality and identified with Citizenship Certificate number 52.387.197 from Santafé de Bogotá and Miss Aleida Aidee Moscote Peña, of Colombian nationality and identified with Citizenship Certificate number 51,984,740 from Santafé de Bogotá; to agree to the following:
- The company to be established will be called THE ENGLISH HOUSE LIMITADA. And it will be a Limited Liability Company. Initially the company will be a combination of a foreign language academy and a Restaurant-Bar. In the foreign language academy we will have six (6) levels of basic learning, two (2) levels of advanced learning and two (2) annual preparation courses for specialized exams This partnership will have a duration of 30 years. society will be EIGHT MILLION PESOS M / CTE. ($ 8,000,000) and will be represented by TWO MILLION PESOS ($ 2,000,000), in cash, contributed by each of the partners.The company's address will be: Cra. 17 No. 39-15, in Santafé de Bogotá. DC The directors of the company were appointed by the board of partners, as follows:
President and Legal Representative: CARLOS ANDRES LOPEZ BARRERA
First Vice President and First Alternate Legal Representative: ALEIDA AIDEE MOSCOTE PEÑA
Second Vice President and Second Alternate of the Legal Representative: ANDRES GUILLERMO ARCINIEGAS TORRES
Third Vice President and Third Alternate of the Legal Representative: INGRID CORINA VELAZQUEZ RUEDA
- The following clarifications were then made:
The capacity of the company will be exclusively related to the object foreseen in the activities of the company and therefore, it must exercise the rights and obligations derived from the existence and activity of the company.
A copy of the corporate deed must be registered in the commercial register of the Chamber of Commerce with jurisdiction, in the place where the company has its main domicile. If branches are opened or another domicile is set, the deeds will also be registered in the respective Chambers of Commerce.
To prove the existence of the company, as well as to demonstrate legal representation, a certification is required, issued by the Chamber of Commerce.
- The type of limited liability company, which has the following characteristics, was selected as the legal nature of the company:
- It is made up of two or more partners, not exceeding 25, who respond up to the amount of their contributions; It will be accompanied by the word Limited or its abbreviation Ltda. In the bylaws, a greater responsibility, accessory benefits or supplementary guarantees may be stipulated for all or some of the partners, expressing their nature or their amount, duration and modalities. In its entirety when the company is constituted, as well as when the increase of the same is solemnized.In the shareholders' meeting, each one will have as many votes as shares in the company. The decisions of the board will be made by a plural number of partners representing the absolute majority of the shares into which the capital is divided.The company will keep a partner registry book, registered in the Chamber of Commerce, in which it will record name,nationality, identification document, address and number of shares that each one owns.The partners will have the right to examine at any time the accounting, the partner registration books and in general all the documents of the company.The society will form the respective reserve legal.
Being 3 PM on Thursday, June 11, 1999, the meeting is closed and in accordance with the signature:
Carlos Andrés López Barrera ALEIDA AIDEE MOSCOTE PEÑA
CC 79'694.858 of Santafé de Bogotá DCCC 51'984.740 of Santafé de Bogotá DC
President and Legal Representative First Vice President
CONCLUSIONS
- According to what was observed in the results of the survey carried out in the proof of concept, it could be said that the new business has a strong probability of success, since it is easily understood by those who make up the target market. that its greatest strength, the new merger, becomes at the same time its greatest weakness.The location in this area is ideal (if you have the target market that The English House has), since there are a good number of universities and university students that would be directly influenced by the business.Young people can be reached quickly with new ideas, they are a generation that seeks the different, flexibility and is close to technology.Explore new business development options, it is interesting and very stimulating for creativity,especially when resorting to sharp contrasts such as education and free recreation dealt with in this work. Economically the project is viable, it presents some very acceptable indicators: the Internal Rate of Return reaches 23% and the Net Present Value is low but positive $ 2.73 with an opportunity cost rate of 19.9%.
