And if you follow this link it will take you to the finance page on our website where you can download the spreadsheet.
http://mnmlmgmt.wix.com/group9#!breakdown-of-our-finance/c970
Friday, 22 March 2013
Graphs of our finance
Below are some of the graphs produced for our finance.
And if you follow this link it will take you to the finance page on our website where you can download the spreadsheet.
http://mnmlmgmt.wix.com/group9#!breakdown-of-our-finance/c970
And if you follow this link it will take you to the finance page on our website where you can download the spreadsheet.
http://mnmlmgmt.wix.com/group9#!breakdown-of-our-finance/c970
Finance
‘How will you justify
commerciality? Where will you get funding?’
Start up
Minimal management was set up in 2018 by the 5 current
partners. In an effort to reduce the company’s debts the founding partners each
invested £40,000. The business used this initial £200,000 to buy its office
space. This initial cost is more costly than renting the property however this
will reduce the practices running costs throughout the years. This saving means
as a practice we can provide the same high quality service at a lower cost to
you the client.
Over 5 Years
As a company Minimal Management has big plans for the
future. Our successful business is constantly looking at ways to improve and
expand, and by 2025 we look to expand from our Nottingham based practice to
other major cities in the UK. We have projected a steady growth in the company
and our Profit & Loss predictions for the next 5 years show a
strong income. This profit will be invested into the company to help set up
other practices across the UK and Europe. With all the capital (in forms of
property and profit) we aim to attract investment to help with our development.
‘What profits could you
anticipate?’
We have
anticipated the following profit over the next 5 years of our company.
Year 1 -
£270,880 Profit
Year 2 -
£573,400 Profit
Year 3 -
£891,920 Profit
Year 4 -
£986,560 Profit
Year 5 -
£1,067,720 Profit
Full details
and downloads can be found on our company website
‘What will be
the costs (capital and running costs)?’
Due to our
company owning their property they will incur no rental costs. The cost of
running the practice can be seen here.
‘What might be the
implications of a continued recession?’
Effects
of a recession
In any
practice there is always uncertainty when it comes to the number of projects
the practice will undertake at any one time. During times when the practice has
a low work load Minimal Management will undertake a number of measures that are
in the company’s best interests.
• One of the first steps will be to
encourage staff members to undertake their CPD.
• Encourage staff members to take their
holiday leave during these periods.
• To improve the sales of the practice
the marketing and advertising department will receive further finance in an
effort to increase sales. This measure should attract more clients to practice.
• In a recession that dramatically
affects the practice and the building sector; further measures will be
undertaken, such as placement staff will be made redundant.
Economic
boom
During an
economic boom the aim of the practice will be to maximise the number of
projects undertaken. By increasing the number of projects that are undertaken
it will in turn increase the partnerships profit.
The simplest
method to increase the profit and production of the company will be to hire
further staff. The staff chosen will be dependent on the practices requirements
at the time of an economic boom.
Part of the 5
year plan of the practice is to expand the company so that it has offices in
other major cities across the UK. The current plan aims to achieve this goal at
the end of our 5 year plan, however should an economic boom take place before
this time it will help accelerate the process and the company will have an
opportunity to expand sooner than planned. On the other hand following a
recession the aim of expanding within 5 years may become unrealistic.
Thursday, 21 March 2013
Group meeting 9
March 18th, 2013
Today we made the poster, the business cards and the handouts. We've also updated the website with newer information for each individual page.
Today we made the poster, the business cards and the handouts. We've also updated the website with newer information for each individual page.
Group meeting 8
March 15th, 2013
Today we've started putting all our information together. We've made the layout of our presentation board and we've established what else we need to do for the presentation, such as handouts, business cards, laptops and the A3 booklet.
Today we've started putting all our information together. We've made the layout of our presentation board and we've established what else we need to do for the presentation, such as handouts, business cards, laptops and the A3 booklet.
_______________
All members present.
Wednesday, 13 March 2013
Group meeting 7
March 13th, 2013
Today we've written a list of what we should have in the exhibition.
-2 x A1 panels
-A laptop (plus a spare one in case of low battery)
-Business cards
-A3 booklet
-Smaller booklet about our team
We've also spoken to Chris Heuvel. He said the A3 booklet is going to be the thing we submit to the tutors in the end, so most information about our project should be in there. The panels should show a bit of info about each part of the company: design, technology, finance, marketing and business management. We should not advertise our weaknesses.
We've set to meet tomorrow with each of us doing an A3 page with what we think should be put on the panels.
Today we've written a list of what we should have in the exhibition.
-2 x A1 panels
-A laptop (plus a spare one in case of low battery)
-Business cards
-A3 booklet
-Smaller booklet about our team
We've also spoken to Chris Heuvel. He said the A3 booklet is going to be the thing we submit to the tutors in the end, so most information about our project should be in there. The panels should show a bit of info about each part of the company: design, technology, finance, marketing and business management. We should not advertise our weaknesses.
We've set to meet tomorrow with each of us doing an A3 page with what we think should be put on the panels.
____________
All members present.
Group meeting 6
March 6th, 2013
Today we've come up with a name for our company and a logo. Based on that we've designed our business cards. We've also written the company profile on the website.
Next week we should discuss how to organise our presentation in the exhibition.
_______________
All members present.
Wednesday, 20 February 2013
Group meeting 5
February 20, 2013
Today we looked through the questions we were advised to look at for the business plan.
What is your product? What is the ‘market’?
We would use abandoned or old buildings, for example office buildings no longer in use, and create minimalist dwelling spaces within.
Who are your ‘clientele’ (or might be in the future)?
Students and young professionals.
What is your unique selling point (USP)?
(TBC)
How does your business fit into the Nottingham community?
Office buildings aren't required, due to advanced technology. Also both universities in Nottingham have plenty of placement staff.
What is the local competition available to your potential clients?
A lot of companies are doing the same thing, but none are actually based in Nottingham. Even though we've been established for 2 years, we've already won a cosiderable amount of competitions in this field.
What are your strengths and weaknesses?
(We said we would have one for each of the domain we are responsible for and a few for the company as a whole)
Company:
Strengths
-Local based company
-Wide clientele
-Based on individual work, we've gained some reputation
-Experience in working with international companies
-Latest technology
Weaknesses
-More or less similar background
-Need for outside help from experts in other fields
-We haven't been established for as long as other similar companies.
How will you justify commerciality? Where will you get funding?
(TBC)
What profits could you anticipate?
(TBC)
What will be the costs (capital and running costs)?
(TBC)
How will you manage your company: private/public; ownership/partnership?
Private partnership.
How will you market/promote your company?
(TBC)
What might be the implications of a continued recession?
(TBC)
How might you diversify or change course if needed?
(TBC)
How might you expand your business activities?
(TBC)
What is your group /image/style? What is your design ethos?
(TBC)
What evidence do you have of your own career development since graduation (your career plan)?
(TBC)
What is your attitude to sustainability and carbon reduction?
(TBC)
What kind of an employer will you be?
(TBC)
How do you see the role of the professional institutions? (RIBA & CIAT)
(TBC)
Today we looked through the questions we were advised to look at for the business plan.
What is your product? What is the ‘market’?
We would use abandoned or old buildings, for example office buildings no longer in use, and create minimalist dwelling spaces within.
Who are your ‘clientele’ (or might be in the future)?
Students and young professionals.
What is your unique selling point (USP)?
(TBC)
How does your business fit into the Nottingham community?
Office buildings aren't required, due to advanced technology. Also both universities in Nottingham have plenty of placement staff.
What is the local competition available to your potential clients?
A lot of companies are doing the same thing, but none are actually based in Nottingham. Even though we've been established for 2 years, we've already won a cosiderable amount of competitions in this field.
What are your strengths and weaknesses?
(We said we would have one for each of the domain we are responsible for and a few for the company as a whole)
Company:
Strengths
-Local based company
-Wide clientele
-Based on individual work, we've gained some reputation
-Experience in working with international companies
-Latest technology
Weaknesses
-More or less similar background
-Need for outside help from experts in other fields
-We haven't been established for as long as other similar companies.
How will you justify commerciality? Where will you get funding?
(TBC)
What profits could you anticipate?
(TBC)
What will be the costs (capital and running costs)?
(TBC)
How will you manage your company: private/public; ownership/partnership?
Private partnership.
How will you market/promote your company?
(TBC)
What might be the implications of a continued recession?
(TBC)
How might you diversify or change course if needed?
(TBC)
How might you expand your business activities?
(TBC)
What is your group /image/style? What is your design ethos?
(TBC)
What evidence do you have of your own career development since graduation (your career plan)?
(TBC)
What is your attitude to sustainability and carbon reduction?
(TBC)
What kind of an employer will you be?
(TBC)
How do you see the role of the professional institutions? (RIBA & CIAT)
(TBC)
________________
Absent:
Nicholas La Rosa
Group meeting 4
February 13, 2013
For today we worked on our profile statements, in which we've included a brief history of how we came to create the company and what experience we have gained over the years prior to the establishment of the company. We also started putting the website together, including the profile pages and some examples of our work.
For next meeting we need to think of our strengths and weaknesses and also think of a name and a logo for our company.
For today we worked on our profile statements, in which we've included a brief history of how we came to create the company and what experience we have gained over the years prior to the establishment of the company. We also started putting the website together, including the profile pages and some examples of our work.
For next meeting we need to think of our strengths and weaknesses and also think of a name and a logo for our company.
__________________
Absent:
Daniela Carpov
Group meeting 3
February 6, 2013
We had a tutorial today with Chris Heuvel. He helped us with the idea of making the business plan.
We would focus on the time between 2020 and 2025.
We would need to concentrate on the financial part, and try to imagine how technology would develop in that period of time.
Would we grow in those 5 years or would we stay the same?
Would we have offices in other cities? Nottingham would be considered the main headquarters though.
Who would we employ?
What would the political situation be like in the future?
We were also advised to reference all the pictures that we use on the website.
For the next meeting, we decided we need to work on our Profile page for the website.
_______________
All members present.
Group meeting 2
January 30, 2013
Today we spoke more in depth about what our company would focus on. We would specialize in small spaces and try to create minimal designs within these spaces to ensure maximum functionality. We would also aim for a green architecture.
For the future, we mentioned the possibility of creating a booklet to represent our company. We would include an article about our company, a small profile of each of us and some examples of our work experiences.
We also raised the question of who is our main clientele. We decided it would be students and young professionals.
Today we spoke more in depth about what our company would focus on. We would specialize in small spaces and try to create minimal designs within these spaces to ensure maximum functionality. We would also aim for a green architecture.
For the future, we mentioned the possibility of creating a booklet to represent our company. We would include an article about our company, a small profile of each of us and some examples of our work experiences.
We also raised the question of who is our main clientele. We decided it would be students and young professionals.
________________
All members present.
Tuesday, 5 February 2013
Examples of small designs
Similar to the examples above, our company would focus on specialising in designing small apartments with maximum features.
Wednesday, 23 January 2013
Group meeting 1
January 23, 2013
We had our first meeting today. The group members are:
-Vinanti Kothari
-Fehintola Odeyemi
-Daniela Carpov
-Aaron Bellamy
-Nicholas La Rosa
We've discussed the following part of our initial idea for the product:
-Product
-Clientele
-Unique Selling Point
By 2020, we assume that the design will mainly focus on:
-Maximizing small sites
-Links to green belt
Please see the video as a source of inspiration:
Two Romanian architects transforming a 40 sq. m apartment into a "superhome".
http://adevarul.ro/life-style/stil-de-viata/cum-transformat-apartament-40mp-intr-o-superlocuinta-doi-arhitecti-romani-8_50fce06a51543977a98698d5/index.html#
We've divided the responsibilities as follows:
-Design - Daniela Carpov
-Finance - Aaron Bellamy
-Marketing - Fehintola Odeyemi
-Project management and administration - Vinanti Kothari
-Technology - Nicholas La Rosa
-Website and IT support - group input
We had our first meeting today. The group members are:
-Vinanti Kothari
-Fehintola Odeyemi
-Daniela Carpov
-Aaron Bellamy
-Nicholas La Rosa
We've discussed the following part of our initial idea for the product:
-Product
-Clientele
-Unique Selling Point
By 2020, we assume that the design will mainly focus on:
-Maximizing small sites
-Links to green belt
Please see the video as a source of inspiration:
Two Romanian architects transforming a 40 sq. m apartment into a "superhome".
http://adevarul.ro/life-style/stil-de-viata/cum-transformat-apartament-40mp-intr-o-superlocuinta-doi-arhitecti-romani-8_50fce06a51543977a98698d5/index.html#
We've divided the responsibilities as follows:
-Design - Daniela Carpov
-Finance - Aaron Bellamy
-Marketing - Fehintola Odeyemi
-Project management and administration - Vinanti Kothari
-Technology - Nicholas La Rosa
-Website and IT support - group input
___________
Absent:
Nicholas La Rosa
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