Initiative:Develop Financial & Operating Plan Engagement The client was a Community College in Cedar Rapids, Iowa, with a number of mini campuses. They were in the process of building a new facility (Kirkwood Center for Continuing Education) that was to be uses for adult education and business and community meetings.An additional phase to include a hotel and restaurant facility is under consideration. Situation Kirkwood Community College was in the process of building a 15,000 square foot facility with a large multipurpose room (700 person seating capacity) which can be divided into six smaller meeting rooms, a business/events room(120 person capacity), 6 conference rooms (50 person capacity) and a large pre-function space.The initial assignment was to develop:
Individual and (CMP) complete meeting package pricing
Sales goals and targeted utilization
Operational policies and procedures
Staffing positions and operational plan
Preliminary first year business plan
Action Project was completed in four weeks. In addition to the original requested information we also reviewed:
Market survey information
Long-term financial forecast and business plan
Plans for hotel and restaurant to be run by the culinary arts program.
Results We developed a first year financial plan that indicated that with the agreed assumptions, the Kirkwood Center could reach break-even by the 5th month of operation and a 11% operating margin by the 8th month.
To learn more please contact Peter Rome President and Head of Business Development at 248-417-2818 or firstname.lastname@example.org