Project Description: Community Space Business Plan

Welcome to Cherry Tree Lane! We are thrilled to present an exciting opportunity for talented MRU Business students to contribute to our innovative project, Community Space Business Plan.

Main Goal:

The primary objective of this project is to build a business plan to bring our community space to life! Leveraging profits from the retail side of our business, the community space is intended to bring people together without barriers to accessing the events and opportunities put on there. Events we've hosted already include artists workshops, story time, book clubs, and community parties. We aim to keep the costs as low as possible, offering free rental for the space for artists, and a sponsored ticket option for participants unable to fund their own entry. The main goal of this project is to build a model for which we can continue to keep the community space free of financial barrier, while leveraging sales from our retail shop or through sponsorship opportunities with other companies that share our values. We want students to not only understand the significance of their contributions but also feel confident that the project is manageable within a realistic timeframe from September 20, 2024 - December 10, 2024.

Project Scope and Expectations:

During this project, students will create a business plan articulating how best to continue to fund the community space, including opportunities for sponsorship, retail sales growth or other innovating ideas!

Company Overview:

At Cherry Tree Lane, we pride ourselves on creating experiences, encouraging imagination and play, being a space for everyone where inclusivity is our primary focus. This project offers students an opportunity to gain insights into our company culture, values, and the impactful work we do.

Project Details:

Provide more detailed information about the project, breaking down tasks and milestones. This includes:

• Assess sales of the retail space and offer opportunities for increased profit
• Assess the community event space offering and suggest ways to enhance the offering,while staying true to the purpose of the space
• Seek out alternative funding options for the community space beyond the retail shop

Final Deliverables:

• A comprehensive 10-15 page business plan as per the team of consultants' course curriculum.

Our company is committed to providing a weekly in-person meetings to mentor the team. This mentorship will be tailored to address specific project challenges and foster a supportive learning environment. The mentorship sessions aim to complement the technical guidance and ensure that students not only complete the project successfully but also gain valuable insights into real-world applications of their skills.

This combination of technical support, collaborative tools, and dedicated mentorship hours aims to empower students, fostering an environment conducive to their growth and success in completing the project.

Regular Communication:

• We are flexible to communicate in many ways! Phone, email, text, and in person.

Scheduled Meetings:

• We are available, preferably Friday afternoons, to meet on project deliverables as required. Virtual meetings are just fine, however seeing the space at least one time would be beneficial for the outcomes of this project.

Resources:

• We have an entire brand strategy and business projections for the retail space that can be leveraged.