Project Description: [Hidden Gemz]

Welcome to Hidden Gemz! We are thrilled to present an exciting opportunity for talented MRU Business students to contribute to our innovative project, Revising and Optimizing Existing Business Plan.

Main Goal:

The primary objective of this project is to revise and complete our business plan to accurately reflect our current operations and market position, making it a compelling document for securing funding, city partnerships, and attracting investors. The updated plan will highlight our business as an ideal investment opportunity by detailing our unique selling points, our bookable experiences, competitive advantages, and return on investment. 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 conduct market research, analyze financial data, and review business operations to draft a comprehensive business plan. This will include developing an executive summary, company description, market analysis, organizational structure, competitor analysis product/service details, marketing strategy, funding request, and financial projections.

Company Overview:

At Hidden Gemz, we strive to create moments that will live on as amazing memories. Hidden Gemz offers year-round experiences that can be booked at any time, for friends, couples and people that are New to the City to visit multiple places in the same day. This innovative, stress-free approach encourages exploration and fun while directly generating sales for local businesses through tickets purchased in this experience economy.

For Gen Z’s this provides them a way to explore their City in a way they never did before and for businesses this connects them to the next generation of life long customers. 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:

1.Make Revisions to Existing Business Plan:

• Review the current business plan to identify outdated sections.
• Revise market analysis and competitive landscape based on recent research.

2.Conduct Comprehensive Market Research:

• Perform a competitive analysis to identify key competitors, their strengths, and weaknesses.
• Compile data into a detailed market analysis report to inform strategic decisions.

3.Outline Marketing and Sales Strategy:

• Outline marketing objectives, strategies, and tactics to reach target audiences.
• Create a sales plan detailing customer acquisition, retention strategies, and sales targets.

4.Create Financial Plan and Funding Request:

• Project financial performance for the next three to five years
• Develop a funding request section specifying the amount needed, potential sources, and intended use of funds.

5.Compile and Finalize the Business Plan:

• Integrate all revised and new sections into a cohesive and professionally formatted document.
• Review and edit the entire business plan for clarity, consistency, and completeness.
• Conduct a final stakeholder review and incorporate feedback to ensure the plan meets all requirements.

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:

• Students will have regular communication channels open with the CEO and Founder, Ranique McLaughlin. They will be added to our Slack workspace, where they can ask questions and discuss the project with members from each department. 

Scheduled Meetings:

• Students will meet with Ranique McLaughlin on a weekly basis to discuss project progression, address any concerns, and receive feedback.

Resources:

Students will have access to various resources to support their work on the project, including:

• Slack Workspace: For real-time communication and collaboration with team members from different departments.
• Notion Board: A repository of detailed documentation, project information, and data on projects and developments.
• CEO and Founder Guidance: Direct mentorship and support from Ranique McLaughlin, providing insights and advice based on extensive industry experience.