COMBINING EDUCATIONAL CENTER YES (YOUR ENGLISH SCHOOL) AND COFFEE SHOP “BARISTA” IN CO-WORKING SPACE
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Date
2023-11-23
Authors
Dinara, Mussayeva
Saltanat, Sanakbek
Abylay, Adambayev
Assylkhan, Korzhumbayev
Journal Title
Journal ISSN
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Publisher
Nazarbayev University, Graduate School of Business
Abstract
The research paper provides a specific overview of an unique educational
co-working space approach, combining “Your English School” (YES) educational center and “Barista” coffee shop. Our collaborative workspace solution includes the identification of the number and type of courses and the pricing policy that ensures the project's growth and sustainability.
Informed with SWOT, Marketing research, and Net Present Value (NPV)
analysis, the strategy involves introducing preparation courses for enrollment to Nazarbayev Intellectual Schools (NIS), Republican Physics and Mathematics School (RPMS), and Bilim Innovation Lyceum (BIL) schools, responding to a notable demand from market dynamics and customer preferences. We're recommending a pricing approach, initially aiming for 100,000 KZT per month per course. Justified by positive Net Present Value (NPV) over a five-year projection period, there's also a suggestion to lease a 500 sq.m. office space, requiring an initial investment of 50 million KZT. The breakeven calculation indicates that YES Educational Center needs to deliver 4,104 courses at an average price of 74,216 KZT per course to cover costs and reach the breakeven point. Given the established business and operational processes of the "Barista" coffee shop, the proposal suggests that a Coworking educational center should offer a dedicated facility to the “Barista” coffee shop by providing a rented space specifically designed for catering purposes. Moreover, this will help avoid complexity between mixing the two business lines in terms of profits and losses tracking.
To further broaden the scope of the business, it is advised to explore the
potential of renting out underutilized spaces and venturing into training courses for enrollment to domestic and international universities. The main objective is not just to maintain competitiveness but to build a strong base for continuous growth and success while maintaining financial feasibility.
The research paper introduces a balanced scorecard and strategy map,
aligning objectives with specific measures and targets across financial, customer, internal process, and learning and growth perspectives. Moreover, the paper provides a comprehensive Implementation Plan for establishing an educational co-working space. The proposed actions are tailored to meet the evolving demands of the education market, positioning the project for long-term success and community impact.
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Type of access: Embargo
Citation
Mussayeva, D. et al. (2023). Combining YES Educational Center and Barista Coffee Shop in Co-working Zone. Nazarbayev University, Graduate School of Business