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Business Plan
Module: New Enterprise Development
Module No: EF317
Lecturer: Ali J. Ahmad
Team No: 11
Team Name: SODS Troops
Idea Description: GYMFM is radio station aimed at gym-users and fitness/health enthusiasts.
Date of submission: May 12th, 2011
Team Members: Shane O’Donohoe 58440581 BS3
Haydar Jawad 58748110 BS3
John Sullivan 58510687 BS3
Jamie O’Sullivan 58593612 BS3
We hereby certify that this material which we now submit for assessment on the programme of study leading to the award of BBS is entirely our own work, and has not been taken from the work of others, save, and to the extent that, such work has been cited and acknowledged within the text of our work.
Signed: _______________________ ID No: ______________ Date: _________
Signed: _______________________ ID No: ______________ Date: _________
Signed: _______________________ ID No: ______________ Date: _________
Signed: _______________________ ID No: ______________ Date: _________
Contents
Executive Summary 4
Our Idea 6
Commercial Potential 9
Marketing Plan 14
Operations Plan 17
Management Plan 25
Financial Plan 30
Environmental Mitigation Strategy & Ethics 40
Reflections 43
Appendices 46
Bibliography 80
Executive Summary
The Team
Managing Director
Haydar Jawad hold the position of Managing Director in the company as he has the advantage of age, experience and the organisational and communication skills required to successfully carry out the responsibilities involved with this position. In addition to his specialism in Human Resource Management.
Operations & Production Manager
Jamie O’Sullivan will fill this role. He is the ideal candidate for this role, as he has an interest in music, radio and all things involved in broadcasting, as well as having excellent organisational and computer skills.
Marketing & Sales Manager
Shane O’Donohoe will act as Marketing and Sales manager. He is suited to this role because he has some experience in a retail company and has the ability to make hard sales.
Financial Manager
John Sullivan will fill the role of financial manager. Although John is not specialising in Accounting & Finance at DCU, he has a head for numbers, which made him the most suitable candidate for this position.
Website Design & Maintenance
This area will fall under the responsibility of Issraa Alhiti. Issraa is a DCU graduate with an honour Bachelor degree in Electronic Engineering, making her the perfect person to design and maintain the GYM FM website.
Advisor & Sound Engineer
Our sound engineer will be Jamie Moore. As a former employee of one of Dublin’s largest radio stations he has the experience and expertise needed to fill this position.
The Concept
Tired of listening to the same dull, boring songs over and over again when you workout? Tired of listening to the same uninspiring fad pop music in the gym? Well, GYMFM is an exciting new concept that will change the way people exercise forever. We plan to provide a radio station like other. GYMFM will be aimed at people who exercise, in the gym, at home or anywhere else. GYMFM will give these people up beat music that will help motivate them and help them reach their fitness targets. As well as motivation, GYMFM will provide them with the knowledge they need to succeed, by having regular fitness and health related discussions to keep them informed on the latest workouts, nutrition plans, equipment and anything else they need.
Not only will GYMFM provide gym-goers with what they want, we will also provide the fitness/health industry with what they want, by giving them the opportunity to buy advertising space that is aimed directly at there main target market.
Markets
As discussed above, the target audience of GYMFM is people whom workout in the gym or exercise regularly. While this target market excludes a large portion of the population, we are not deterred because this market is still very large and ever growing, as people have become more concerned with their health and fitness in recent decades.
And also discussed above, GYMFM’s target market is primarily companies involved in the manufacture or retail of health/fitness products or services. At the moment these companies are forced to advertise through expensive media to the population at large in the hope that they will reach their target market. But by advertising with GYMFM they can be guaranteed that their advertisements will reach their target market for a fraction of what it would cost them otherwise.
The competitors of GYMFM include any radio station in Ireland that focuses on playing music, such as FM104, Spin103.8, 98FM, etc. We know that these are formidable competitors and we do not underestimate their resources and capabilities. But we have a competitive advantage over these giants of Irish radio. Our service targets a particular segment of the population which is not catered for by other radio stations. This is where our competitive advantage lies and this is the foundation on which we plan to build our business.
Investment
Initially the business will be financed solely by equity, with a total sum of €120,000 invested in the company. This investment will be comprised of a €20,000 individual contribution from each member of the management team, in return for a 22.5% stake in the company. The additional €40,000 will be invested an external investor, in return for a 10% stake in the company.
Revenue Generation
GYMFM’s main source of revenue will be the sale of advertising to potential clients. Initially advertising revenue will be slow but based on research of the Irish radio industry we expect this to pick up gradually from quarter to quarter. In the first quarter of year 1 we will sell 25 advertising spots at €6 per spot. In the second quarter we expect to sell 30 spots at €6 per spot. In quarter 3 the price per spot is expected to rise to €8, and then to €9 in quarter 4. Based on these figures we hope to earn revenue of €83,700 in year 1.
Our Idea – Why It’s Innovative
What Innovation Means To Us
Innovation can be defined as producing something like nothing done or experienced or created before. We believe this to be the best description of innovation, and the definition that best defines GYMFM. No other radio station in Ireland has ever done anything like GYMFM’s blend of high tempo motivational music specifically catering for the active lifestyle. No exercise enthusiast in Ireland has ever experienced a combination of tunes consistently aimed at active people with the knowledge and expertise to backup that hard work. In short nothing and nobody has ever created such a winning formula in Irish radio as GYMFM.
Ambitious claims we know, but also well founded, as we will justify throughout this project.
Product Outline
The name of our product is GYMFM. GYMFM is an innovative radio station which is unique to the commercial radio industry in Ireland that will specialise in high tempo motivational workout music combined with informative discussions in areas such a exercise and nutrition.
Strategic Competitive Advantage
Competitive advantage is defined as the strategic advantage one business entity has over its rival entities within its competitive industry. Achieving competitive advantage strengthens and positions a business better within the business environment.
We believe the fact that GYMFM will be the first gym/exercise orientated radio station gives us a unique competitive advantage when gaining customers to advertise on our station. No other current radio broadcaster in Ireland specialises in our high tempo motivational brand of music. As such the target market we will be aiming for will be specifically fitness interested individuals thereby creating a unique market for potential customers (advertisers).
The specific aspects that make GYMFM innovative can be summarised into a two key points.
- Our listeners, which we anticipate to be gym and exercise enthusiasts, we are able to avail of a radio station that uniquely specialises in brand music and discussions which compliment their active lifestyle.
- Our customers such as gyms, sports shops and nutrition shops, among others, will be able to avail of a more concentrated target audience of exercise enthusiasts to advertise their product/service too, than is available with any other radio station in Ireland, due to GYMFM’s unique strategic positioning as an exercise orientated station.
With such innovation our competitor’s will not be able to compete. We believe these innovative aspects, to refer back to the original definition; we serve to provide us with a strong position within the commercial radio industry in Ireland.
Benefits to the customer
At this point it is important to make a clear distinction between our listeners and our customers. To clarify, our listeners, those who tune into GYMFM will not provide us with any revenue. Melanie O’ Sullivan, events and marketing manager of Kerry radio, summed it up best, “listenership to radio is free – no cover charge, no licence fee, no subscription etc required.” As such our customers will gyms, nutrition shops, sports shops, fitness instructors, fitness equipment manufactures and supplement retailers. Others, who will advertise their product/service on GYMFM.
We believe through the use of GYMFM as a medium for the advertising our customers will avail of the following advantages.
- A concentrated target market of gym and exercise enthusiasts.
- A lower rate of advertising as we are a new station.
The Business Model
The first step in the basic plan for revenue generation behind GYMFM is the establishment of an innovative radio station which will attract listeners from an untapped market segment. From this perceived ‘untapped’ radio market sector (exercise enthusiasts) we would then hope to establish a fan base of listeners which will appeal to our customers (Nutrition company’s, gym’s etc) to advertise/promote their goods to.
We believe the fact that GYMFM will be the first gym/exercise orientated radio station gives us a unique competitive advantage when gaining customers to advertise on our station. The target market we will be aiming for will be specifically fitness-interested individuals thereby creating a unique market for potential customers (advertisers).
We view our potential customers as gyms, nutrition shops, sports shops, fitness instructors, fitness equipment manufactures and supplement retailers. We would view these potential advertisers as our main source of revenue short-term. The revenue generated from the advertising slots and packages would be our sole source of income in the initial stages of our business.
Future development
Alternative revenue medium to long-term also looks positive. To supplement our advertising revenue, which we view as our primary source of revenue, we see great potential in future growth in this area.
The hosting of exhibitions, competitions and concerts has proved prosperous for other radio stations in the industry. We feel there is an opportunity for GYMFM to branch out into this field also, to provide an additional revenue stream for the business. We see the potential, once established, to host GYMFM exhibitions in gyms throughout the country. As we see today many of the household names in Irish radio setup in locations around the country, then hold competitions and give out free merchandise to promote their station. We want to provide this service by purchasing a studio on wheels something like the ‘FM104 RoadHog’. GYMFM plans to bring this to a different level by setting up GYMFM sponsored competitions and exhibitions in gyms around the country. Such events could provide revenue in two manners, one through entrance fee, merchandise sales at the event, and also through the buzz created would be the perfect example of brand promotion, and the evitable rewards through such exposure.
To elaborate on the merchandise point, we feel once our station becomes established there is potential for revenue from our own range of GYMFM merchandise. Specifically in the area of gym gear/clothing i.e. tee shirts, shorts etc and gym equipment i.e. water bottles, towels etc.
Furthermore sponsorship is another avenue we plan to explore. Again through research we have found this proves to be a prosperous income source for radio stations.
Having provided the main areas we feel the business aspect of GYMFM can development, it is now important to highlight the other element, in essence the core of the business. In terms of the future development of the product itself, i.e. the music and discussions we broadcast, we also feel positive it will continue to evolve and grow. In relation to the discussion’s side of GYMFM the key to bettering the quality of information we broadcast is growth. With increased exposure and fan base we feel the calibre of guest will improve; thereby the level of expertise will continue to develop, and we will provide a better product to our listenership. The danger with our music is once we have identified a gap in the market, and a need for our brand, that it will become stale or dated. As such we will require constant research and updating of our database, as like any other station, to ensure of music is fresh for our listeners.
Commercial Potential
Summary of Research Methodology and Results
As outlined in assignment 2 we conducted both primary and secondary research in order to achieve our main objective, to establish whether GYMFM had commercial potential. We described ‘potential listeners’ and ‘potential customers’ as the two key links in this process. As such our research focused on these two groups, and consisted of a variety of methods, leading to positive results across the board.
I will briefly summarise the research conducted to date, the style, methods and types employed, along with the information it has provided us in relation to our business idea. The primary research methods we used were both quantitative and qualitative. It consisted of an email-based survey, a series of interviews and personal observation, all of which were outlined in detail in assignment 2.
The survey was addressed to Gym members, as such fell into the category of ‘potential listeners’. It was designed with fixed response questions to increase the reliability of the data. We obtained 100 responses, directly from our target market. Basic information such as gym users profile, gym habits and music habits was the primary aim of such research. The profile we established, as the most receptive to our product were young people, sport orientated people and weightlifters. But overall the feedback was positive. Our aim with ‘gym habits’ was to establish what time and how regular people use the gym, and for how long. This varied with age and personal goals. The overall prognosis was that the evening time was the preferred time, and on average people went 3 times per week. Also in relation to the music element, what was the preferred type of music and what percentage of people listen to iPods, or would avail of GYMFM’s offerings. Due to the large-scale nature of this research it proved critical to establishing our target market, in terms of ‘potential listeners’.
Based on the feedback received from the survey we decided to conduct a series of interviews with gym members, gym managers and sports and nutrition shops. The interviews provided us with diverse viewpoints in relation to the need and viability of GYMFM. More specifically, they allowed us face-to-face time with our target market in terms of ‘potential listeners’ and ‘potential customers’. The most important findings in this area were from the interactions with our ‘potential customers’, whereby we were able to establish that there was genuine interest in product of GYMFM.
To compliment the interviews and survey we conducted a personal observation in DCU gym. The observation was carried out to reinforce our survey by giving us a clearer idea of the percentage of people using personal MP3 devices in comparison with the people listening to the regular radio played by the gym.
From the methods outlined above we gathered positive feedback and information from our ‘potential listeners’ and our ‘potential customers’. Out of our extensive research to date we have established that there is a strong commercial need for GYMFM.
New Research findings
Since the completion of assignment 2 we felt it necessary to conduct further research to strengthen our product’s position. The majority of the research conducted for assignment 2 was primarily research for the purpose of better understanding our target market, in terms of customers and listeners. Our more recent research focused on gaining a better understanding of our product, and we felt that again a combination of primary and secondary research was the appropriate method.
We felt an area we needed to address was operations and equipment in order to better understand how our product would be delivered the market. As such we held an interview with Mr Denis McEvoy, DCUfm Station Manager, who provided us with some insight into the operational requirements of running a radio station. The areas we covered in the interview were equipment, radio license, royalties, cost of sales and start up costs. (See appendix 3 for full details)
We also conducted comprehensive research via email, to try and gather information regarding various aspects associated with the operations of a radio station. The first line of research was in the area of income and expenditure.
The first of our numerous enquiries was made to TippFM radio station. We contacted them in relation to information regarding cost of sales, their income revenue sources and the economic climate facing radio stations in Ireland at the moment. Their sources of revenue included advertising, sponsorships, outside broadcasts and obituaries. Furthermore their listenership has experienced a slight decline. We also got in contact with Radio Kerry in relation their income stream and costs. We received a detail breakdown of their costs of sales (see appendix) and their main sources income mirrored those of TippFM but in addition included the hosting of events such as concerts and exhibitions. Regarding the economic climate of the radio industry we received some highly thought provoking information and opinion.
The next issue we addressed was licensing, and specifically Internet licensing. In this line of research we contacted the Broadcasting Authority of Ireland (BAI), IMRO/MCPSI Online Mobile Accounts (Following a lead from our interview with Mr Denis McEvoy), and Klubb FM. From our communication with IMRO we were able to establish that if an online station generates more than €7000 per annum the option is a Joint Online License, which was one of many interesting points gathered from our correspondence in relation to license research.
The final area of research we felt that was needed in relation to the operational side of our project was information regarding the equipment requirements of a radio station. We had received some good feedback from Mr. Denis McEvoy regarding what equipment we might need. As such we got in touch with Audio warehouse for some pricing information.
All of our findings in relation to income and expenditure, licensing and equipment will be discussed in more detail in the appropriate sections.
Having undertaken comprehensive primary research in order to improve our knowledge of the overall operations involved in the radio industry, we decided to get down to the nuts and bolts of GYMFM, our music! There is no point in having all the technical information in the world if the core of your business is weak. Music is at the heart of any radio stations operations. Radio stations operate for a multitude of reasons; to entertain through music, chat shows, to inform or educate via discussions and news, the list goes on. We needed to narrow our aim, breakdown our product to understand what is exactly that GYMFM will provide.
The primary goal of the music played on our station is to motivate people. Motivation can be defined as “Factors within a human being that arouse and direct goal-oriented behaviour.” Having established our target market as ‘active people’ and more specifically ‘gym users’, we needed to establish if our product was strong. Secondary research on the field of ‘music’s effect on physical performance’ helped us reaffirm what the results of our primary research suggested. That is, that GYMFM’s brand of music, fast high tempo music, motivates people to perform better in physical exercise. A number of secondary sources were consulted to compliment our primary research findings.
Dr. Dan Bishop in his article ‘Music effect on sport performance’ conducted some very interesting research. He found that “music played at faster tempi induced more positive and aroused emotional states”, and that “high volume also increased arousal”. The research came to some highly interesting and applicable findings,
- A faster tempi is more preferred when exercising at higher intensities
- The rhythmicity of music heard is also highly motivating
- Finally, he conducted a case study on a marathon runner, whereby the findings showed the athlete by “placing emphasis on the type of music he played.”
Research undertaken by the UNITED STATES SPORTS ACADEMY and subsequently published in The Sport Journal also provided us with some interesting information. Their research shows that synchronization of repetitive tempo with repetitive exercise is associated with increased levels of work output. They found this to be particularly applicable to ‘gym users’ in terms of weightlifting, cardio etc, and sports especially rowing, cycling, running. The conclusion that performance can be improved by virtue of repetitive tempo is based on two core findings.
- “music tempo can regulate movement and thus prolong performance”
- “Synchronizing movements allows athletes to perform more efficiently again resulting in greater endurance.”
Similar secondary sources such as the Athlete Whisperer “Sports Performance and music”, and Sports Geezer “Music improves Sports Performance, were consulted with results consistent to those above. However space does not permit a thorough discussion on their findings.
In conclusion we felt it’s no good just saying music motivates us; as it seems to be the general consensus, we need some scientific/ factual info to underpin what our original primary research for assignment 2 had suggested. The secondary research above helped solidify our view that our primary product, high tempo music, helps stimulate better physical performance.
Market Segment and Industry
The industry within which GYMFM will operate is the commercial radio industry in Ireland. Broadly speaking our market will therefore be radio listeners. By virtue we will be involved in a huge Irish market, “9 out of 10 Irish adults aged 15+ tune into one or more radio stations every day” (Melanie O’Sullivan, events and marketing manager Kerry radio)
Within that industry the market segment we will target is exercise enthusiasts. As outlined we believe this segment to be an ‘untapped market’, as there is no radio station in Ireland, FM or online, that provides the service we propose. As such we feel there is a unique opportunity to be the sole radio station in this newly identified market segment.
Summary of competitor’s analysis
In order to gain a better understanding of the market that we plan to enter we conducted an analysis of our competitors. We examined their strengths and weaknesses, the services they provide, their possible threats to GYMFM and GYMFM’s sustainable competitive advantage (SCA) over each of them. As we plan are initially planning to broadcast in Dublin only, our competitors are any music radio stations that broadcast in Dublin. (See appendix for table of competitor analysis)
GYMFM’s SCA is that we cater for a specific audience, which is ignored by our competitors. These are listeners who are using the gym or exercising or have an interest in fitness and nutrition discussions. We also recognise that some of our competitors pose serious threats to us, such as having large fan-bases and being well established in Dublin.
Since establishing these points in assignment two we conducted further analysis to better understand our competition. We discovered previously unknown sources of revenue our competitors gain from such as sponsorship, event hosting and outside broadcasting. This information brought us to the realisation that in order to compete with other radio stations additional revenue sources outside of advertising is essential. Our plans for such additional revenue were outlined in the previous section.
Risks and risk mitigation strategy
With any new business venture there will always be risked involved. Considering the current economic circumstances in Ireland and globally these risks are inevitable heightened. Acquiring a FM frequency-broadcasting license is a complex and difficult procedure. There is a lot of red tape and criteria surround the application process. Developing GYMFM into a commercially viable entity and a servant to the Irish public will mitigate the risk of failing to acquire a license in the near future.
To combat these risks we rely heavily on two aspects of GYMFM which we feel will enable us to avoid such risks and prosper in these difficult times. In tandem we believe these aspects give us the best chance of securing a future for GYMFM.
1. We are providing a product that is unique to the radio industry, that we strongly believe will appeal to listeners having conducted in depth research throughout the past few months. Thereby creating a demand for our product.
2. In tandem with this demand, to attain our product it will cost our listeners nothing. As previously mentioned “listenership to radio is free – no cover charge, no licence fee, no subscription etc required.” (Melanie O’ Sullivan, Events and Marketing Radio Kerry.)
Marketing Plan
The GYMFM marketing plan consists of a series of five print ads. The purpose of these ads is to introduce the GYMFM brand to the world, and create brand awareness. These ads have been designed to show the motivational side of GYMFM in a variety of sports for a variety of people. The common theme across all five ads is ‘winning’ or ‘succeeding’.
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Operations Plan
GYMFM will be a private limited company. There are a number of advantages and disadvantages to this business format. But the management team felt that the advantages outweighed the disadvantages, when compared to the other possible business format, a partnership. The advantages of a private limited company over a partnership are:
• A private limited company is subject to low corporation tax (12.5%) on profits. The members of a partnership are subject to regular income tax of up to 41% (www.revenue.ie).
• In a private limited company the members' liability, if the company is wound up, is limited to the amount, if any, unpaid on the shares they hold. (www.cro.ie). The members of a partnership are jointly and severally liable for the debts of the partnership.
• A private limited company is a separate legal entity from its members, meaning the members cannot be sued as result of the actions of the company. The members of a partnership are not separate legal entities, therefore they can be sued as result of the actions of the partnership (Courtney & Hutchinson 2002).
Set-Up Requirements
To form a company the following documents, along with the appropriate registration fee, must be submitted to the Companies Registration Office (CRO): Memorandum of association, Articles of association and the Form A1.
• Memorandum of Association: This document sets out the conditions upon which the company is granted incorporation. It must contain provisions dealing with certain matters e.g. the name and objects of the company and, if it is a company with limited liability, that fact must also be stated. The memorandum must be in accordance with, or as near as circumstances permit, to the appropriate table in the First Schedule to the Companies Act 1963. It must be printed and divided into paragraphs and numbered consecutively.
• Articles of Association: This document sets out the rules under which the company proposes to regulate its affairs. Articles must be printed and divided into paragraphs and numbered consecutively. A private limited company must register articles with the CRO.
• Form A1: This document requires you to give details of the company name, its registered office, details of secretary and directors, their consent to acting as such, the subscribers and details of their shares. It incorporates a statutory declaration that the requirements of the Companies Acts have been complied with, and as to the activity which the company is being formed to engage in.
Once all these forms have been submitted, the CRO will ensure they are correct and will process them. This process can take anywhere from five to ten working days depending on the scheme the application is submitted under. When the process is complete the CRO will issue a Certificate of Incorporation to the applicants. Once the certificate has been issued the business may begin trading as a company.
Once GYMFM has been incorporated there are a number of other set-up requirements which must be met before we can physically begin trading. First of all, we must obtain suitable premises in a suitable location. Details of the premises requirements will be further discussed later in this section (www.cro.ie).
Next, we will have to obtain the equipment necessary to operate the radio station. This equipment includes:
• Standard desk
• Mix desk
• Headphones
• Studio Desk
• Soundproofing
• 4-5 Microphones
• 3 computers (production, streaming and playing)
• Broadcasting software (See Interview, Appendix 3)
We have already contacted a number of suppliers regarding the specific equipment that we will need and the costs involved.
In addition to the above requirements, we will have to obtain a number of licenses to allow us to broadcast legally and play music under copyright. These include:
• Joint Online License (JOL) from the Irish Music Rights Organisation (IMRO).
• A license from the Phonographic Performance Ireland (PPI) to play sound recordings.
• A license from Loudcity, a US company that subsidizes the fee from the major US publishing/ performing rights companies: ASCAP, BMI, SESAC and Sound Exchange, to play US registered music (See Emails, Appendix 3).
These are the licenses required to broadcast online. However, these requirements may change, as online broadcasting is a very grey area with no clear regulations or laws. Initially we will only be broadcasting online because it is very difficult, and costly, to obtain the type license necessary to broadcast via FM radio, from the Broadcasting Commission of Ireland (BCI). This may change in the future as we expand and have the resources necessary to obtain a license from the BCI.
Another set-up requirement will be the initial promotion and launch of the company. These promotion requirements include:
• Logo design
• 2 windmaster Street signs
• 2 pull-up banners
• 1000 DL flyers
• 100 posters
These promotion requirements will be necessary to promote the launch of GYMFM. Different types of advertising and promotion will be undertaken once the company is up and running.
Location & Premises
The premises we choose and the location of the premises will be of vital importance to success of GYMFM. The premises will have to be in a location that is easily visible to passers-by, and must be located in an area with heavy footfall. This will help to increase brand awareness and promote GYMFM. A location in, or near, Dublin city centre would be ideal.
The premises themselves will only need to be small. An office unit with 2-3 rooms will suit our needs. One room large enough to hold the studio, and another one or two rooms that will be used as office space.
We have inquired about a number of premises in the Dublin city centre area, and have come up with some promising results. The most promising was a small two-room office unit located on Dawson St. Dublin 2. Dawson St. is an ideal location as it is in Dublin city centre and runs parallel to Grafton St. one of Dublin’s busiest shopping streets. This location will provide heavy passing footfall at a manageable cost.
Operations Process
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1. Advertising & Promotion
The advertising and promotion aspect of our operations will involve promoting GYMFM itself in order to develop an audience. We will do this through a number of mediums.
• Posters: primarily located in gyms, leisure centres, sports clubs and sports retail shops.
• Print Ads: primarily in fitness and health publications but also in other press, such as newspapers.
• Internet Advertising: this will be done mainly through fitness and health websites and social networking sites where personalisation allows the target audience to be reached easily.
• Outdoor Advertising: we will advertise in a variety of outdoor spaces, including billboards, hoarding, buses, etc.
As well as these traditional forms of advertising, GYMFM will also be promoted (and broadcasted) through our own website, and by ‘station reps’ who will drive around Dublin and attend events in cars emblazoned with the GYMFM logo to further promote the station. We also contacted James Fennelly, Ireland’s strongest man, about the possibility of an endorsement deal (See Email, Appendix 4).This area will be the responsibility of Shane O’Donohoe, our Marketing & Sales Manager. He will engage with advertising/printing companies and all the types company listed above, in order to develop advertisements and negotiate the purchase of advertising space at the best possible price. Our Website Designer, Issraa Alhiti will be responsible for designing and maintaining the GYMFM, under the direction of the GYMFM management team.
2. Sales
The sales aspect of the operations will involve selling advertising space on GYMFM and the GYMFM website. We will mainly approach a variety of potential clients such as:
• Fitness and health product manufacturers, e.g. sports nutrition product manufacturers, sports clothes manufacturers, etc.
• Fitness and health product retailers, e.g. sports nutrition shops and retail websites, general sports stores, etc.
By using GYMFM to advertise their products these companies will know that their advertisements are reaching their target market directly. As well as companies involved in health and fitness we will aim to sell advertising to other companies that we believe may be interested in buying our advertising space. This area will also be the responsibility of our Marketing & Sales Manager, Shane O’Donohoe. He will engage with the various types of company listed above that may be interested in buying advertising space on GYMFM and the GYMFM website. In this area Issraa Alhiti, our Website Designer, will also be responsible for designing and posting the appropriate advertisements on the website.
3. Production
This part of our operations involves planning and creating what we will play on GYMFM. It is here that we will sit down and decide on the station’s schedule and exactly what GYMFM do shows will comprise such as:
• What music to play
• What advertisements to air
• What discussions will be had
• What guests we will have
• And exactly when all of the above will happen.
Every minute of airtime must be accounted for in this process. In this part of the process we will also produce the advertisements that our clients want us to air. This can be easily done, as only sound is required in the advertisements. By producing advertisements ourselves we will not have to pay the considerable costs involved in outsourcing this part of our operation. This area will be the responsibility of Jamie O’Sullivan, our Operations & Productions Manager. He will be responsible for sourcing music, booking guests and organising the radio schedule.
4. Broadcasting
This part of the operations process involves the actual airing of music, talk shows and advertisements on GYMFM. During this part of the operations process we will put the radio schedule into action. It will be the responsibility of our Sound Engineer to run this part of the process. As we will be broadcasting online, our Website Designer, Issraa Alhiti will be responsible for ensuring that the website is functioning properly and broadcast is streaming correctly. And our Operations & Production Manager, Jamie O’Sullivan, will oversee the broadcasting.
5. Financial Management
This part of the process will involve bookkeeping and accounting, to ensure that the finances of GYMFM are in order. This will allow us to keep track of money coming in and money going out and help us to plan for future expenditure. The financial management will be the responsibility of John Sullivan, our Financial Manager.
Our General Manager, Haydar Jawad, will oversee all the operations of GYMFM, as listed above, and provide input and assistance wherever it is required. Below you will see a chart depicting GYMFM’s organisational structure:
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Next Steps
There are a number of tasks which must be completed before the launch of GYMFM can take place. The following is an outline of the next steps required to implement GYMFM:
1. GYMFM must ne incorporated as a private limited company, as outlined above. This task will take a maximum of two weeks to complete. 2. We must sell advertising space in order to begin bringing in revenue as soon as possible. This will be an ongoing task; once we begin selling advertising space we will continue indefinitely as it is vital to the survival of the company. 3. We must promote GYMFM in order to create brand awareness and create a listener base. A large audience will also make the sale of advertising space considerably easier. Like selling advertising space, this will be an ongoing task; it too is vital for the survival of the company. 4. The GYMFM website must be designed and launched, in order to broadcast and promote the station. We estimate that this will take no more than four weeks to complete. 5. The terms of a property lease must be negotiated and the lease signed. We estimate that this will take three to four weeks. 6. Several members of the company will take part in broadcast training in order to save costs, which would be involved in hiring additional broadcast professionals. The appropriate broadcast training course will take four weeks to complete. 7. We must apply for and obtain all the necessary licenses, as set out above. This could take up to four weeks. 8. The necessary furniture and equipment, as outlined above, must be purchased. We estimate that this process will take no more than one week to complete. 9. The premises must be furnished and all the necessary equipment set up. Due to the complex nature of the equipment being used, we estimate that this could take up to two weeks to complete. 10. We must produce our must then work on producing our initial shows. This will involve deciding what music to play, what discussions to have, what advertisements to play and exactly when all of this should be done. This process could take up to one week. 11. Finally, we launch GYMFM with our first ever live broadcast! (See Gantt Chart, Appendix 2 “B”)
Management Plan
Meet the management team
The management team is consisting of 6 members. The original SODS Troops members, Haydar Jawad, Jamie O’Sullivan, Shane O’Donohoe and John Sullivan, in addition to two more members, Issraa Alhiti and Jamie Moore. The team is highly motivated, skilled, and well qualified. The positions have been carefully distributed to take advantage of this opportunity and possess many significant skills and experiences that will support the success of this business project.
Managing Director Haydar Jawad BS3
Operations & Production Manager Jamie O’Sullivan BS3
Marketing & Sales Manager Shane O’Donohoe BS3
Financial Manager John Sullivan BS3
Web-site design & Maintenance Issraa Alhiti
Advisor & Sound Engineer Jamie Moore
(See appendix 1 for CV’s and appendix 2 “A” for the Organisational Chart)
Haydar Jawad:
Haydar Jawad is a final year business studies student in Dublin City University who is specialising in Human Resource Management. He will be the Managing Director for GYMFM and in charge of the overall strategic direction of the station on both a short and long term basis. His strengths include having an excellent communication, interpersonal and administrative skills. Also he has a great leadership potential represented by his motivated and inspired language to deal with difficult situations and build high performing teams. Through his numerous managerial work (see appendix 1 “a” for CV) he has shown the ambition and hard work that will ensure the business success.
Experience, skills and achievements profile:
• Honour Bachelor degree in Law, and full member of Iraqi Barristers Association since 1999 • Diploma in International Trade & e-Business – Institute of International Trade of Ireland • Vice Chairman and Co-founder of the Iraqi Irish Society (Voluntary) • Holds a full clean driving license
Jamie O’Sullivan
Jamie O’Sullivan is a final year business studies student in Dublin City University who is specialising in Law. He will hold the position of Operations & Production Manager for the station. Having an enormous interest in computer software and applications, Jamie is the ideal person to take the responsibility of this technician part of the business. He has a proven experience working in a “Just in Time” environment, people management, as well as customer service (see appendix 1 “b” for CV). His current occupation as a soccer coach for young kids enhanced his skills of developing, encouraging, and handling the discipline procedure.
Experience, skills and achievements profile:
• Successfully completed the ECDL - (European Computer Driving Licence) • North Dublin soccer player of the year 2007 • Member of Howth Golf Club • Holds a full clean driving license
Shane O’Donohoe
Shane O’Donohoe is a final year business studies student in Dublin City University who is specialising in Law. He will hold the position of Marketing & Sales Manager for the station. Shane’s work experience in the retail sector gave him a great knowledge of how to deal with clients and improved marketing and networking skills (see appendix 1 “c” for CV). He has outstanding written and verbal communication skills, along with the ability to self-motivate and work independently or within a team. His experience and his various contacts can greatly aid GYMFM gain new customers, as well as building strong meaningful relationships with existing ones. It is clear that Shane has the right attitude and talent to remarkably fulfil the role of Marketing & Sales Manager.
Experience, skills and achievements profile:
• Successfully completed the ECDL - (European Computer Driving Licence) • Successfully passed a certified Manual Handling course in 2010 • Qualified fully as a beach and pool lifeguard (2008) • Member of St. Anne’s Golf Club
John Sullivan
John Sullivan is a final year business studies student in Dublin City University who is specialising in Law. He will be responsible for all the financial and accounting aspects in GYMFM with the position of “Financial manager”. John had good results in all of the finance and accounting modules in the first and second years of this course, and relaxed in dealing with numbers and calculations. His work in IKEA Dublin since July 2009 involved a lot of accounting and bookkeeping work (see appendix 1 “d” for CV). He has perfect computer skills including the ability to operate computerised accounting, spread sheet and using the Payroll system.
Experience, skills and achievements profile:
• Successfully completed the ECDL - (European Computer Driving Licence) • Successfully passed a certified Manual Handling course in 2009 • Customer Service course completed • Qualified Gaelic Football Coach • Holds a full clean driving license
Issraa Alhiti
Issraa Alhiti attended DCU and attained a bachelor’s honours degree in Electronic Engineering with a First Class Honour grade (see appendix 1 “e” for CV). She has since worked as an operating engineer for Jinny Software Ltd for messaging and mobile solutions. She is proficient in IT aspects and has an efficient experience in web designing, with knowledge in Adobe Dreamweaver application. She will work closely with the other team members to ensure a successful design, and implementation of GYMFM website. Issraa is Haydar’s wife and she offered to contribute voluntarily for the first year.
Jamie Moore
Jamie Moore has acted as an advisor for our team over the past few weeks and will continue in this role in addition to the sound engineer role as we move towards the launch of the business. Jamie is qualified as a radio studio sound operator (see appendix 1 “f” for CV). He has many years’ experience working as a producer and sound engineer in 98FM radio station. He will set the key guidelines to Jamie O’Sullivan in the operations and production processes. His assistance will be of vital importance in the coming period.
Division of roles/responsibilities
Managing Director • Haydar will be responsible for the overall day-to-day running of the station along with the strategic direction of the business going forward. He will be able to bring his managerial and administrative experience to run GYMFM successfully. He will be responsible for managing, motivating, developing and leading members of the management team. Also, direct their meetings, manage the business resources efficiently and effectively, and ensure that there is a fit between the station’s processes and structure, and station’s strategy and culture.
• He will also be responsible for the compliance with the Broadcasting Authority of Ireland (BAI) rules and regulations, and any other laws and guidelines to keep the station run legally and ethically.
Operations & Production Manager • Jamie will supervise the daily operations of the station. His responsibility is to be sure that all program contents and commercials of GYMFM are timely produced and aligned for timely broadcast.
• He will also be responsible for the on-air personalities who are delivering the contents to the listeners and consider as the face of the radio station, as well as the disc jockeys, and the station’s guests.
Marketing & Sales Manager • As we mentioned, Shane will have the role of Marketing & Sales manager in GYMFM which, initially, involves generating sales (selling air-time) to advertisers. Also, negotiate the terms and the payment details with these advertisers.
• His duties will also include market research, market segmentation, advertising (to attract the target customers to advertise in GYM FM), market trends, promotions and competitor’s analysis, and developing of new services in the station.
Financial Manager • It is John’s duty to manage all the financial activities of the station. He must monitor the business cash flow at all times and sign-off all cheques. This includes advertiser’s dues which should be collected in a timely manner, and all other payments like utilities, salary and other day to day running costs.
• He will also be responsible for managing the financial risks involved with doing business, and communicate with the managing director in order to direct the station’s strategic financial plan
Web-site design & Maintenance
Issraa will be responsible for GYMFM website. She will ensure that the website is continuously upgraded and error free. Firstly, she will design the station website to allow audiences to listen online to the station broadcasting (when this service started). Secondly, she will work with the entire management team with regards the design, direction and implementation of the website. She will also deal with the daily monitoring of faults in the website, upgrades of the website and customer complaints about it.
Advisor & Sound Engineer
Jamie Moore will be assisting us in many various stages of the station set-up and day-to-day running. He will be advising us on the best course of action to take with regards licensing GYMFM and has agreed to be as a sound engineer works with us each step of the way. Due to his experience in 98FM station, he will train and work closely with Jamie O’Sullivan in the operations and production section.
Future manpower & compensation
In GYMFM, its manager will decide the future manpower for each section. However, the managing director, on account of his specialism in human resource management, will be responsible for the areas of recruitment, selection, payment promotion, training etc... The management team expect that if the business does well during first year, the first two types of expert employees they will need are disc jockeys and sales men.
Regarding to the compensation, it has been agreed that no salaries would be taken for the first year of running the business. That has been agreed among the original 4 team members, and kindly offered by the other two ones. However, in year 2 and depending on the business success, the management team will reduced to 5 members by excluding the advisor position. Expected salaries for the business directors will be:
Year 2: €15,000 each + €2,000 for web-site design and maintenance
Year 3: €25,000 each + €2,000 for web-site design and maintenance
Year 4: €30,000 each + €2,000 for web-site design and maintenance
Financial Plan
Financing the Business
The business will be financed wholly by equity in the initial stages. A sum of €120,000 was invested in the company. The management team invested 80,000€. Each member invested 20,000€ AND received a 22.5% stake in the company. An outside investor Mr. David O’Sullivan invested a further €40,000 seed capital for a 10% stake in the company (see appendix). We have projected the equity invested will prolong the viability of the business until our revenue can cover our expenses.
The proposed investment by Mr. David O’Sullivan will give the business a much-needed boost and hopefully propel our marketing campaign. As we are a start-up business and the nature of the radio industry depends on listenership figures, the promotion aspect of our business will be integral to our survival and development. It will ultimately make or break the venture. We will allocate 16,000€ in the first quarter to marketing the firm. Building brand awareness will be our primary objective. We will purchase the following promotion accessories from ‘Jaycee’:
• Logo Desgin - €285
• Two Windmaster street signs - €295 each
• Two Pull-up Banners - €169 each
• 1000 DL flyers print on both sides - €189
• 100 Posters - €121
• Stationery package deal – 1000 letterheads, 1000 compliment slips and 1000 business cards - €330
We availed of some promotional offers by Jaycee – 3 for 2 on the logo design, posters and pull-up banner. The posters were acquired free of charge. The total is 1,732€ and will be paid over the first quarter so 577.33€ per month. We have estimated that we will need to spend at least 500€ per month on such promotional accessories (www.jaycee.ie 2011).
Our four person promotional team The GYMFM Crew will be paid as they work on a non-fixed contract. Their remuneration package will involve €9 per hour plus extras. In the first quarter of operation we intend to hire the crew on twenty-four separate occasions, eight events monthly. This will cost an estimated total of 1728€ per month in salaries for the first quarter. We will spend an estimated 3500€ on the GYMFM Crew for quarter 2, 3 and 4 in year 1. The promotional vehicles will be bought and paid for in monthly instalments of 466€ per month over a 5 year period (see appendix). The GYMFM Crew will be seen a method of promoting our brand name and hopefully lead to a revenue generator in the future much like the Spin 1038 ‘Spinis’ (www.spin1038.com 2011).
|Investor |Position | €€ |Stake |
|Haydar Jawad |Station Manager |20,000 |22.5% |
|Jamie O’Sullivan |Operations & Production Manager |20,000 |22.5% |
|John Sullivan |Financial Officer |20,000 |22.5% |
|Shane O’Donohoe |Marketing & Sales Officer |20,000 |22.5% |
|David O’Sullivan |Outside Investor |40,000 |10% |
Projected Start-up Costs
Here at GYMFM we intend to abide by the ‘golden rule’ for financing a new business, “as little as possible, as cheaply as possible” (O’Kane, 2004). We realize that in order to give this business venture ‘a shot’ at success we need to save on our expenses and make our money last longer. A key skill the management team at GYMFM has bred into the business is the ability to negotiate and drive prices down. We believe every price is negotiable and hold this trait as a valuable asset to the company’s future. We have adopted the ethos of ‘Rome wasn’t built in a day’ and intend to start small and gradually develop.
(1) Owner Investment
Our owner investment is €60,000. This consists of €10,000 from each team members personal savings and then we have each managed to acquire an additional €5,000 from our relatives.
(2) Sales
See revenue projections for year 1, 2 and 3 below.
(3) VAT Refund
A VAT refund occurred in the first quarter of year 1. This happens as a result of us having more VAT on purchases than VAT on sales.
In the first VAT payment of year 1 we have €7,270 more VAT on purchases than VAT on sales. We receive a VAT refund for this amount.
(4) (5) (6) License
We will require a ‘Joint Online License’ (JOL) issued by the Irish Music Rights Organization (IMRO). This license will cost an estimated €4,804 in year 1.The more revenue accumulated, the more listeners reached and the more songs played affects the price of the JOL on a yearly basis. We may also require a license issued by the Phonographic Performance Ireland (PPI) administration in order to legally play sound recordings. We will require a ‘Standard Webcasters Tariff’. We estimate that we will play 7,200 songs per month, a total of 86,400 per year. The estimated cost of the license is €601.11 for year one (see appendix). This cost will be paid in instalments in the fourth month of every year. This figure will increase in year 2 and year 3 as GYMFM increases the volume of tracks broadcasted. A License issued by ‘Loudcity’ to broadcast music registered in America may also be required to provide a wider range of chart options. The estimated cost of this is €51 per month in year 1 and again increasing with volume in songs played (www.loudcity.com) (see operations page & appendix – Emails – License Jessica Treacy, Brian Fuery).
(7) Rent
The Rent will cost €9,600 per year. This works out as €800 per month. This rent refers to an office in Dawson Street, Dublin 2. The office is situated on the top floor to reduce sound invasion. The office is fully kitted out with all the necessary appliances. See appendix for more details (www.property.ie, 2011).
(8) Promotion
We are aware that the profitability of a radio station depends on the size of the audience. The bigger the audience the higher the rates of advertising. So first of all we need to develop our brand awareness and work from there. We approached ‘Jaycee’ a graphic design and printing company to produce our logo, flyers, posters, business cards etc. As mentioned above we will invest heavily in promoting our business. 6232€ will be spent on on promotional accessories in year 1. The salaries for out promotional team, GymFm crew will be an estimated 15684€ for year 1. The promotional vehicles will cost €11184 for year one increasing at a 3% rate each year over the next five years. Our main endorsement figure will be James Fennelly (Ireland’s Stongest man), we estimate his endorsement cost to be in the region of €8000 for the first year (see appendix – Emails – James Fennely). This will give us a total expenditure of €41100 on promoting the business spread over year 1. This figure wil drop in year 2 and 3 as brand awareness increases.
(9) Computer Equipment Lease:
This consists of 3 high-speed Dell desktop computers, a laptop, and a server and wireless printer from Dell on a 2-year contract. This amounts to €1,760 per year. This will be paid in quarterly payments of €440. We terminate the lease after year two as we have enough profit to purchase the equipment
(10) Web Design and Maintenance
We will have to pay a professional web designer to design our website and then to maintain and update our webpage. Our IT consultant Isra Jawad has sourced estimates from a friend in the web-design business. In the first year the costs of this will be €5,000 as this includes the initial cost of both designing and setting up our website. The costs in year 2 and 3 are €1,000 a year. This covers maintenance of the already existing website. These costs are spread evenly throughout the year.
(11) Light and Heat
Light and heat is estimated to cost us €1,600 a year. The figures slightly differ in different quarters due obviously to costs being less in the summer months of the year. They are both paid bi-monthly.
(12) Fixtures and Fittings
Fixtures and fittings will be a once of purchase at the beginning of the first year. The cost will be €1,000 paid in January. This will cover desks, chairs, blinds and basic kitchen utensils.
(13) Diesel
The promotion cars will be fueled with diesel. The average market price is 146.9c per litre (www.pumps.ie). We estimate that we will spend approximately €350 on diesel every month. These figures are obviously subject to changes in the market price of diesel but that matter is out of our hands and this is the best estimate we can make.
(14) Motor Vehicle Maintenance
We estimate our car maintenance costs to be €500 in year 1. A figure of €125 will be paid at the end of each quarter. The Maintenance costs will rise to €700 in year 2 and 3. This covers the upkeep of cars, all mechanical repairs and any costs associated with general wear and tear of the car. We expect costs to increase in years 2 and 3 due to usage.
(15) Equipment
After much deliberation and research we came to the conclusion that we were going to buy new broadcasting equipment instead of leasing it or trying to find second hand equipment. This is because the equipment is very sensitive and easliy damaged. After consulation with Denis McEvoy (Station Manager, DCUFM) and Jamie Moore (Producer, 98fm) we required the following studio equipment to begin broadcasting:
• Standard office desk - €50
• 8 channel mixing desk – €2065
• Beyerdynamic DT100 Headphones – €137.10 * 2
• Studio desk – €100
• 2 Microphones – Rode NT2a - €322 & Beyerdynamic M201 - €229
• 3 Laptops – one for production, one for streaming and one for playing - €1760 per year
• We also needed to invest in sound proofiing our office (insulation, double glazing) – estimated €5,000
The total cost of the broadcasting equipment is 9800€. This will be paid in instalments of €2450 at then end of each quarter throughout the first year. (See appendix – Emails – Quotation Sean Power BTS)
(16) Stationary
We propose that general office stationary will cost €240 a year, consisting of paper, pens, folders etc. (www.bizquip.ie 2011). This will be purchased bi-monthly for €40. We don’t expect this figure to fluctuate much in year 2 or 3.
(17) Insurance
We need several different insurance policies. We will need property damage, employer’s liability, and public liability. The detail of what these different policies entail is outlined in the productions and operations section. (See appendix 3 – Emails)
(18) Registration Fees
We must register our company name and purchase our domain name (www.gymfm.ie). Company registration costs €25. The cost of the domain amounts to €129.95 for a 5 year period (www.hostingireland.ie 2011). This is a once off payment made in January of year 1.
(19) Legal Fees
Legal Fees are calculated on the basis of €70 per hour x 10 hours x 50% discount. Legal fees are necessary to ensure our company is set up within the rules and regulations that govern this state. Issues addressed included making sure our website is in order and has legal standings. These fees are considerably cheaper than they would normally be, as a family relative of our management team is a solicitor and advised us that he would work at a “family” discount. This will save us €350. Our costs are spread monthly each year. The amount of legal advice we require we constantly reduce year by year as we become familiar with the legal requirements of a limited company.
(20) Telephone & Internet
We opted for Eircom’s ‘Value Business Plan 3Mb Bundle’. This includes line rental, up to 3Mb always on broadband and unlimited local and national calls. This will cost us €47.99 per month for the first six months and €52.99 per month for the second six months (www.business.eircom.net 2011).
(21) Mobile Phone
We have availed of the ‘SOHO’ business packages from o2. This will cost us an estimated 4140€ per year. This figure included the four management team members and the presenter at GYMFM (http://www.o2online.ie/o2/business/soho/index.php)
(22) VAT
VAT is calculated Bi-monthly and is payable on the 14th date of the following month. i.e. Jan/Feb VAT is due on the 14th of March. VAT on purchases is claimed back against that of our Sales. Since we provide a service our VAT on Sales is calculated at 13.5%. Our VAT on purchases is made up of a combination of 21% (diesel) and 13.5% (car maintenance) depending on the expense. If our net VAT figure is negative, we are eligible for a refund. Conversely, if the net VAT amount is positive, VAT will be payable by the company
(23) Salaries or Drawings
Our overall cost of Salaries in year 1 is €60,000, breaking down as €12,000 each. This is based on 5 full-time positions. Each of us will receive €1,000 per month in year 1. We feel this is adequate to live on. Although it’s a low salary we want to give the business a good chance of succeeding by lowering costs as much as possible.
Our overall cost of salaries in year 2 is €80000. This rise to an annual figure of €20,000 is due to the relatively low salary in year 1 and that we plan to have a very healthy cash flow in year 2 which will enable us to raise our salaries.
Our overall cost of salaries in year 3 is €100000, an annual figure of €20,000 for all 5 of us. This is once again dependent on the success of the business, but with our research done we are confident of being able to achieve this goal.
(24) Equipment Maintenance
Studio broadcsting equipment is very sensitive and easily damaged (see appendix). Therefore we will need to maintain it in order to provide a high quality service. We have allocated €60 per quarter in year 2 and €70 per quarter in year 3 this estimate was based on a percentage of the cost price of the equipment a common tool used in the industry (Jamie Moore 98FM, 2011).
(25) Training
The management team required training in the industry i.e. How to use the studio broadcast equipment. Two members were trained in March and two members were trained in September. The total cost was €640 for the year (http://www.radioschool.ie).
(26) Equipment Purchase
We will cease to lease our equipment in the third year of business and we will purchase the equipment for €6,880, according to Dell’s website
Revenue Projections Years 1-3
Sources of Revenue
Our main source of revenue will derive from attracting as much advertising to GYMFM as possible. At the beginning sales will be slow but by the second or third quarter we expect to be generating enough revenue to cover our expenses. Based on our research of the Irish radio station, we have developed an increasing rate card for quarter one, quarter two, quarter three and quarter four (see appendix). The rate card gives the prices at which we intend on selling ‘spots’ (advertising airtime). In the first quarter of year one, we intend to sell 25 spots per day at €6 per spot. This will give us revenue of 13,500€. In quarter two we intend to sell 30 spots per day at €6 per spot. Revenue will be 16,200€. In quarter three we intend to sell 30 spots per day at €8 per spot. Revenue will be 21600€. In quarter four we intend to sell 40 spots at €9 per spot. Revenue will be 32400€. Total revenue for year one will be 83700€.
Revenue projection – Year 1
|Quarter |Rate €€ |Spots |Revenue €€ |
|1 |6 |2550 |13,500 |
|2 |6 |2700 |16,200 |
|3 |8 |2700 |21,600 |
|4 |9 |3600 |32,400 |
|Year 1 Total |- |11550 |83,700 |
In Year 2 we intend to continue growing and developing. We want to steadily increase the number of spots we sell daily. We will begin the year selling spots at €8 each but we hope to increase this figure with popularity and exposure. However we will not increase the rate price until we are selling at least 50 spots a day regularly. In the first quarter we will drop the rate price due to seasonal demand i.e. The Christmas period was just over in the last quarter of year one. We intend to sell 25 spots per day producing revenue of 18,000€. Quarter two we intend to sell 35 spots per day at 9€ per spot thus producing revenues of 28350€. In the third quarter we intend to achieve the same margin of revenue and in the busiest fourth quarter we intend to sell 50 per day spots at €9 each giving us a revenue of 40500€. The total revenue will be 115,200€.
Revenue projection – Year 2
|Quarter |Rate €€ |Spots |Revenue €€ |
|1 |8 |2250 |18,000 |
|2 |9 |3150 |28,350 |
|3 |9 |3150 |28,350 |
|4 |9 |4500 |40,500 |
|Year 2 Total |- |13050 |115,200 |
In year 3 we hope to be a well-established profitable online radio station. In quarter one we will again reduce our rate price again for the ‘Christmas hangover’ period. We intend to sell 35 spots per day at €8 per spot accumulating revenues of 25200€. In quarter two we intend to sell 50 spots per day at €9 per spot earning a revenue of 40500€. In quarter three we hope to sell 60 spots per day at €9 per spot with a revenue of 48600€. In the fourth quarter of year 3 we want to drive the business forward and intend on selling 70 spots a day at €10 per spot. This will produce revenues of 63000€. The total revenue will be 177300€.
Revenue projection – Year 3
|Quarter |Rate €€ |Spots |Revenue €€ |
|1 |8 |3150 |25,200 |
|2 |9 |4500 |40,500 |
|3 |9 |5400 |48,600 |
|4 |10 |6300 |63,000 |
|Year 3 Total |- |19350 |177,300 |
P&L Account & Balance Sheet Notes
Depreciation:
Studio Equipment: The broadcasting equipment cost €9415 when purchased in year 1. The figure will be written off on a straight-line basis over a 10 year period.
Year 1: €9800/10 = €980. This meant that €980 is recored in the P&L account as an expense and that €980 was taken from the cost to give €8820.
This process is repeated over the 10 year life of the asset.
Fixtures & Fittings: Fixtures & Fittings were bought for €1,000 at the beginning of year 1. This figure is being written off on a straight-line basis over 20 years.
Year 1: €1,000 x 5% = €50. This meant that €50 is recorded in the P&L Account as an expense and that €50 was taken from the cost to give €950 as NBV.
This process is repeated over the 10 year life of the asset.
Computer Equipment: The equipment cost €6,880 at the beginning of year 3. This is why there is only depreciation in year 3. Depreciation is charged at 10% as we are writing off this equipment over 10 years.
Year 3: €6,880 x 10% = €688. This figure is recorded in the P&L Account as an expense and taken away from cost to give us NBV of Computer Equipment of €6,192
Cash
The Cash Balance in the Balance Sheet is taken directly from that year’s Cash-Flow Statement. In year 1, the closing balance of cash in the CFS is €55,775. This figure is found, when each months Income and Expenditure is balance off against each other and added up. The closing balance for each month is the opening balance for the next month.
Cash is GymFm’s only Current Asset as we don’t have opening or closing stock and have no debtors because we do not offer any credit terms.
P&L Account
This figure is taken from the Net Profit/Loss of that year’s P&L Account. It is an accumulative figure, and so year 2 consists of both year 1’s Net Loss and year 2’s Net loss combined. This amounts to €91293. Similarly, year 3’s figure consists of year 1’s Net Loss, year 2’s Net loss and year 3’s Net loss.
Net Asset Value
This figure is calculated by adding all Fixed Assets and Working Capital together. In year 1 it amounts to €65,545. It should always equal the financed by figure below, which shows how the company is financed.
The VAT figure in the P&L Account is to offset the fact that all the other revenue and expenses are VAT inclusive. This has no effect on the net profit recorded.
Environmental Mitigation Strategy & Ethics
GYM FM & the environment
The environment is an essential and significant issue, and GYMFM station is no different in considering it as a top priority. We are aware of that the station work may impact the local and/or regional environment either directly or indirectly. Thus, we are committed to reduce any damage that this may cause on the environment. GYMFM will adhere to all environmental law and legislation with regards the on-going protection and management of the environment. The station is a “green” one and deemed to be environmentally friendly.
Our green policy……
GYMFM green policy is to continuously look for methods in which we can improve our green credentials. It is our mission to run our business in the most environmentally friendly way possible. This includes:
• Operating a “Reduce, Reuse & Recycle” philosophy. This involves reducing waste in all of the station areas (waste management system), reusing materials at every opportunity by repairing rather than throwing away, and recycling the station office paper, old computers, mobile phones, printer cartridges, fluorescent light tubes used in the station, and encouraging staff and guests to recycle bottles, plastics, and aluminium cans by placing recycling bins at clear points in the station.
• Reducing the electrical energy consumption of the station. We will use a multi-functional devices (e.g. for printing, photocopying and faxing) in our workplaces which will cut energy consumption and reduce paper usage. Also, the station’s consumption of energy will be carefully observed and we will take care that it is not wasted by inefficiency use. Turning off lights when leaving the rooms and using the computers and broadcasting systems responsibly (turning them off at night and using the stand-by mode at the day) are some of the advices that we will adopt in this matter. Furthermore, the station will purchase the electricity from suppliers who re-invest in renewable energy, e.g. Airtricity in Ireland (Airtricity 2011).
• Considering environmental impacts in our buying. We will try to deal with suppliers that share our green values. In other words, we will choose to source our material from suppliers who operate in an environmentally friendly manner. For instance, we only purchase paper that includes recycled content. Another example, when we make flyers for the station we will make sure to choose printing company that uses a recycled papers for printing.
• Using the Internet and emails to minimise the use of paper in the station. The enormous use of email significantly reduces the amount of paper used in hard copy correspondence, envelopes, and letters. Implementing the electronic form in the station is also much more energy and carbon efficient than the physical one. In addition, in GYMFM, we will use 100% digital sound systems in terms of recording and broadcasting. This will reduce the use of the physical CDs and DVDs and will be cost & environment effective.
• Selecting the fuel efficiency (Hybrid models) vehicles to the station and monitor their fuel consumption. We will aim to reduce the need for transport and its impacts on the environment. For example, deal with the suppliers who are geographically local to us to reduce delivery miles.
Although GYMFM is a specialising station for gyms and fitness clubs matters, we will always try to promote, both on-air and off, ways for listeners to live an environmentally-friendly lifestyle. We will encourage our business partners to attempt for the same high level of environmental care, and continuously evaluate all that we do, and how we do it, looking for to minimise our impact on the environment (Envirowise 2011).
Ethics and GYMFM
Business ethics has become a very prevalent topic over the past couple of years, more so than ever. The global economic crisis has thrust the issue of corporate governance into the spotlight. Solomon (2010) believes weaknesses in corporate governance are increasingly being held up as reasons for and causes of the global financial crisis, which has engulfed financial markets and economies around the world. Cannon (1994) defines corporate governance, as “The governance of an enterprise is the sum of those activities that make up the internal regulation of the business in compliance with the obligations placed on the firm by legislation, ownership and control.”
Considering the circumstances and economic climate in which GYMFM will be entering into we feel a hands on approach to ethics is not only key to our businesses survival, but may also provide us with a competitive advantage. Ethics has now become the cornerstone of any business operation. For all the hard work done and that which remains to be done, if GYMFM does not have a solid ethical foundation, our work will be in vain. Hopefully we have stressed the point that ethics is of the upmost importance here at GYMFM. We will now outline of the measures that will be put in place to ensure that GYMFM will operate at the highest possible ethical standards.
Ethics starts from the top down, so as founders of GYMFM it is essential that we develop a structure for an ethical culture within the business. At GYMFM will have developed a few values that will aid us in our goal to be a business that abides by the highest ethical standards.
- Fairness
- Transparency
- Independence
- Accountability
Community Involvement is essential to promoting a positive image of GYMFM. How we interact with our immediate environment, our community, will shape our image in the radio industry. GYMFM proposes to engage with the community from the start. Given the nature of the radio industry, in terms of it being a communication medium and the access it allows to a huge market, it provides GYMFM the opportunity to make a real impact.
For example GYMFM will designate a prime slot on our station to publicise charity events free of charge, through promotions, competitions and fundraisers. Many stations such as TippFM have a similar slot for obituaries etc. GYMFM proposes to invite charities to email us their 30 second ad and GYMFM will broadcast it. This will provide charities throughout Ireland free access to one of the largest media channels in the country. Exposure at such a level would be very beneficial to charitable organisations, as well as create a positive image for GYMFM.
In essence it is the scale and nature of the industry that makes charitable work so applicable to GYMFM. As part of our ethical standpoint, we at GYMFM will keep our doors open to any and all causes that wish to make use of our medium. The hosting of charity gigs, competitions and events are all avenues that GYMFM will explore. The larger players in the radio industry have shown that the benefit of the radio as a medium is the opportunity to engage and influence a large market.
We at GYMFM also strongly believe in the impact of ethics on an organisations culture. Internal aspects such culture and value system are sometimes easily ignored, especially by small businesses. At GYMFM we plan to grow our success from the inside out. Ultimately these core values will determine GYMFM’s reputation. As we know good reputations are hard to build and take time to achieve, but they can be lost in an instant.
Reflections
After attending our first New Enterprise Development lecture John, Jamie and Shane quickly formed a group to tackle the assigned project. We had all previously worked successfully as a group so it seemed the logical call. We set about independently thinking of ideas for the assignment, with one criterion – to think of something fresh and different! We were well aware with the size of the class and the fact that the subject was a constant fixture on this course that doing so would be easier said than done. However, we were still certain something new could be uncovered. We didn’t want to churn out another overplayed idea that has been tweaked in some minor aspect to make it slightly different to the hundreds of options already available on the market. If we had to work on a project for the entire calendar year, which always revolves around this central idea, we at least wanted it to be something we were passionate about, or at the very least had some interest in.
As we were all friends, and saw each other on a daily basis the idea generation process was quite informal. However, once Haydar joined the group it brought some reality to the group that this was a final year project and it was time to knuckle down. We had our first formal meeting as a quartet and decided the best process was just to throw out any ideas that came to mind, a ‘brainstorming’ approach. There was no prior research required for the meeting, it was simply and exchange of ideas and subsequent discussion on those ideas introduced.
Various ideas were introduced for discussion and dissecting during our initial one-hour meeting. For example John complained about public transport in Dublin citing he was regularly late for college, suddenly ideas began bouncing around the room, Jamie suggested a rent a bicycle service on the DCU campus somewhat like the service available in Dublin’s city centre. This triggered Haydar into action, he suggested we could bring the service to every college and university in Ireland. Scenarios like this occurred frequently throughout the brainstorming sessions. Other examples of innovative ideas included a valet parking company that would cater for restaurants and hotels seeking this service for certain events or a mirror that was steam resistant so men could avail of a deeper smoother shave while in the shower.
The first idea to stick came in our second meeting. The idea was a car parking service within car parks throughout Dublin city. The service would operate on a contract basis, whereby the host (the car park owners) would contract out the work to us. We would negotiate a price that would secure a package, which would include a number of designated spots for our service. The service would entail, our customers (people seeking to park) arriving at the car park, leaving their car with a member of our staff, and being able to make a swift exit and not have to worry about the hassle of parking or finding a spot, for a small charge. There was also the possibility of a spin-off a car washing service. The idea was borne out of the issue of trying to find a parking space in Dublin city centre in during office hours. We decided with the deadline fast approaching this was the closest to full agreement that we had come. We ended the meeting with the decision that we would all gather as much basic information about the industry and the components needed to provide such a service. The group was relatively satisfied, as we had found a solid idea, but by no means enthused by the prospect of researching car parks for the rest of the year. While delving into the world of commercial car parks not only did we begin to realise that we had picked an idea that we had no interest in, we also came to the realisation that our idea was just simply unfeasible. John and Jamie discussed this fact and came to the conclusion that they were encountering the same problems in their research. After discussion at the next meeting the idea was scraped.
Having failed to find a single viable idea in the previous two meetings the group was a bit stumped. As we faced up to a fast approaching deadline we began contemplating throwing together an assignment based on one of the failed ideas, just to have something to hand up. As Haydar, John and Jamie discussed the possibility Shane arrived late to the meeting, a regular occurrence, and complained about music in the DCU gym. Shane is a bit of a moaner at the best of times, but this time he found support. John and Jamie were also members of DCU gym, and had found the same problem on countless occasions. The meeting suddenly began to veer off into an unrelated, but ever popular, topic, the gym. This was a regular topic of discussion amongst Shane, John and Jamie as they are all keenly interested in working out. Shane was questioned why he didn’t use his mp3 player, he said he was with his training partner, David, and needed to communicate and encourage. As gym enthusiasts John and Jamie were in total agreement with him and realized this was a pressing issue. To call it a “eureka” moment might be a bit strong, and if it weren’t for the context the issue would definitely been passed over, but a moment of clarity occurred in the group. We decided to research the problem. Jamie and Haydar contacted friends from other fitness centres in the Dublin area and forwarded the query. Reponses included repetitive playlists being aired and monotonous radio chat shows. We suddenly realized an opportunity was beckoning. John put into words what we were all thinking, he suggested we establish a radio station directed at the health and fitness industry. The idea began to gather pace and flourish in the innovative environment. The main focus of our service would be to provide active people, gymnasium members etc. with motivational music and nutrition and fitness information to help them train more productively. We soon realized if we can capture this market of active people and obtain high listening ratings there is potential for profits to be made through advertising.
The reasons for committing to the idea were plentiful. Shane, John and Jamie were regular gym users, attending the gym 3-4 times per week. Everyone in the group shared a common interest in music. After further thought the team quickly realised this was not only a great idea for the NED assignment, it was also highly practical in terms of market research and testing, given the proximity of DCUFM and DCU gym. With all the components on the same campus, coupled with the fact that as a group we were actually interested in both the gym and music, the decision was an easy one. Regardless of marks, or anything gone before the group genuinely believed (and believes) that GYMFM is unique. There’s nothing like it on the market, and we’d be surprised if the idea has been brought up in previous years in this course.
The idea remained fairly consistent throughout the entirety of the year. The basic idea as it exists now, a radio station playing a mix of high tempo motivational music combined with informative discussions in the areas of nutrition and exercise, was outlined once the idea of GYMFM came about. Inevitably throughout a process as long as this slight changes and altercations will be made. Continuous research and feedback breeds opportunity for improvement and change. An idea which precludes the establishment of GYMFM as an actual FM frequency radio in the development process is now to begin with GYMFM as an internet radio station. This idea has progressed throughout the year, and is now firmly implemented in our plans for GYMFM’s development. Through feedback the idea was suggested, and since then it has prospered through in depth research into the viability of it. Correspondence with numerous licensing outlets and existing radio stations has lead us to the realisation that
The aspect of the project which we would have to change is the viral video ad. It didn’t land. The concept of the ad, on further thought, wasn’t clear enough for people on the outside. However, despite the disappointing result our viral video ad received, the making of the ad is an experience the group would not change. Undoubtedly the best and funniest part of the entire project was the shooting of the ad, especially the star of the show Haydar. It was one of those ‘you had to be there moments’, it’s safe to say after the entertainment we received from shooting and editing, the group was more than a little surprised with the initial result for the ad.
As a group this practical experience has enlightened us immensely to the idea generation process of entrepreneur’s. I guess cliché’s are cliché’s for a reason. The processes such as idea generation, brainstorming etc actual prove successful in a practical context. These methods have been drummed into us throughout our three years in DCU, and probably school, and are in every applicable textbook. They were our first port of call on initiating this process. Furthermore, ‘Eureka’, or at least semi-eureka moments, also exist. However, we believe context is an essential ingredient to this. In our situation, a run of the mill gym conversation turned into an idea for a final year college project. Had Shane, Jamie and John discussed DCU gyms limitations in a different context, the idea would have been passed over. But, the conversation occurred in the middle of a NED meeting it stuck, and the rest is history.
Appendix 1 - CVs
A
25 Riverbank House, Islandbridge, Dublin 8, Ireland
Mobile: +353(0)851406726
Email: haydar.jawad2@mail.dcu.ie
Haydar Jawad
Education
Sep 2008 – Jun 2011 Honours Bachelor Degree in Business Studies Dublin City University, Business School
Sep 2006 – Jun 2008 Diploma in International Trade & e-Business – Distinction Institute of International Trade of Ireland
Sep 2004 – Jun 2006 FETAC Awards in English Language as a Second Language – Distinction Integrate Ireland for Learning and Training, Dublin
Sep 1994 – Jun 1999 Honours Bachelor Degree in Law
AL_Turath University College, Baghdad
Sep 1988 – Jun 1994 Leaving Certificate Baghdad College Secondary School, Baghdad, Iraq
Work Experience:
Oct 2007 – Present Iraqi Irish Society, Dublin Part-time position (Voluntary) Position: Vice-Chairman • Responsible of the Society membership • Society relationship with the other organizations • Arranging social and cultural activities
Feb - Mar 2008 Institute of International Trade of Ireland, Dublin Full-time Internship Position: Trainee • Attending and reporting the ClearView project workshop in Dublin. • Writing reports about importing and exporting between Ireland and other countries.
Feb - Mar 2007 Barry & Sons Limited, Dublin Full-time Internship Position: Financial Assistance • Main duties are accounting and bookkeeping.
Nov 2002 - Feb 2004 Federation of Iraqi Chambers of Commerce, Baghdad Full-time position Position: Legal Officer • Represent the Federation in the Governmental and Semi-Governmental Departments.
Aug 1999 – Aug 2001 Al-Attraqchi Solicitors, Baghdad Full-time position Position: Lawyer Assistance (Trainee) • Representing the office in Civil and Personal Courts.
Achievements and Awards:
The Center for International Private Enterprise - U.S. Chamber of Commerce Certificate for successful completion of the Business Association Capacity Building Workshop
Skills/Membership:
• Proficient Computer Skills in MS Word, Excel, PowerPoint, and SPSS. • Full membership of Iraqi Barristers Association • Fluent in English and Arabic • Excellent communication and interpersonal skills • Full Irish driving license
References:
Referee Name: Ms. Clair O‘Dowd
Referee Title: International Trade course Co-ordinator
Referee Address: Pearse College of Further Education, Clogher road, Crumlin, Dublin 12
Contact No: 01 4536661
E-mail: information@pearse.cdvec.ie
Referee Name: Ms. Helen Kelly
Referee Title: Tutor
Referee Address: Integrate Ireland for Learning and Training, Pembroke road, Ballsbridge, Co. Dublin
Contact No: 01 6677232
B
25 Thormanby Lawns, Howth, Co. Dublin , Ireland
Mobile: +353(0)87 2160705
Email: jamie.osullivan2@mail.dcu.ie
Jamie O’Sullivan
Education
Sep 2008 – May 2011 Honours Bachelor Degree in Business Studies Dublin City University, Business School, Dublin
Sep 2006 – Jun 2008 Leaving Certificate The Institute of Education, 85 Lesson Street Lower, Dublin 2
Sep 2002 – Jun 2006 Junior Certificate Saint Fintans High School, Sutton, Dublin 13
Work Experience:
Oct 2010- Present Karen Potter Soccer Club, Dublin Full-time Position: Soccer Coach • Coaching and developing the soccer skills of young kids. • Learned how to encourage and nurture and also got a handle on discipline.
May - Sep 2009 Neil Wong, Aramark Vancouver Canada (The Nat Bailey Stadium, Vancouver) Full-time Position: Concession Stand Operator • High quality customer service and cahier duties. • By dealing with hundreds of customers on a daily basis, I have learned how to combine speed and efficiency under pressure.
May - Sep 2008 Fergal O’Neill, Gamma Ltd, Winetavern Street, Dublin 8, Ireland Full-time Position: Geocoder • Assigned the task of producing data on time for demographic statistics. • I was also involved in achieving marketing research for the company.
May - Sep 2007 Wrights Group (Findlathers), Howth, Dublin. Full-time Position: Barman • Customer assistance, stock monitor and delegation duties.
Skills/Membership:
• Innovation – ‘The New Enterprise development project’ in my final year at DCU gave me the chance to engage my creative and innovative side. We produced and developed a new service that received positive feedback from our tutor. • Leadership – ‘The Airline Simulation Project’ in my final year at DCU gave me the chance to portray my leadership skills. I lead my team to market leaders in a highly competitive industry. • Team Work – throughout my years at DCU I worked in many groups producing high quality assignments. The experience has given me the ability to work in a team environment and achieve results.
Interests and Achievements:
• Soccer – I have played at the highest Junior (DDSL Premier), highest Amateur (AUL Premier A) and highest University (Colingwood Cup) level in Ireland. Throughout the years I have won many trophies and acolades such as North Dublin player of the year 2007. This sport has given me the innate ability to win and never give up. • Golf – I am a member of Howth Golf Club and currently play off a handicap of 10. I have represented my club in prestigious competitions such as the ‘Barton Cup’ throughout the years. • ECDL - (European Computer Driving Licence) • Full clean driving license
References:
Referee Name: Feargal O’Neill
Referee Title: MD of Gamma Ltd.
Referee Address: Gamma, 4 Inns Court, Winetavern Street, Dublin 8, Ireland.
Contact No: 01 7079888
E-mail: feargal.oneill@gamma.ie
Referee Name: Micheal Doherty
Referee Title: President of the Irish Association of Law Teachers
Referee Address: Dublin City University, Dublin 9, Ireland.
Email: michael.doherty@dcu.ie
C
50 Mt. Prospect Ave., Clontarf, Dublin 3 , Ireland
Mobile: +353(0)87 6169731
Email: shane.odonohoe2@mail.dcu.ie
Shane O’Donohoe
Education
Sep 2008 – May 2011 Honours Bachelor Degree in Business Studies Dublin City University, Business School, Dublin
Sep 2007 – Jun 2008 Leaving Certificate The Institute of Education, 85 Lesson Street Lower, Dublin 2
Sep 2002 – Jun 2007 Junior Certificate Saint Fintans High School, Sutton, Dublin 13
Work Experience:
Jun – Sep 2010 The fireplace Restaurant, Boston Full-time Position: Bus boy/food runner in a restaurant. • Served food and drink to customers, cleared tables and assisted waiters.
Jun 2009- May 2010 Bargaintown Ltd., Dublin Part-time Position: Sales & General Assistant • Assisted customers
• Kept the shop tidy and worked in the warehouse.
Apr 2008 - May 2009 Fingal County Council, Dublin Part-time Position: beach lifeguard • Ensured the safety of bathers and others on the beach.
Skills/Membership:
• Computer skills - I have good knowledge and experience of Microsoft Office Suite including Word, Excel and PowerPoint. I undertook the ECDL in 2007.
• Manual Handling course - 2010
• Leadership – ‘The Airline Simulation Project’ in my final year at DCU gave me the chance to portray my leadership skills. I lead my team to market leaders in a highly competitive industry.
• Communication - Excellent interpersonal and communication skills. My time working in retail and the various presentations I have made in University have contributed to my interpersonal and communications skills.
• Lifesaving - I am a qualified and experienced lifeguard, certified by The Irish Water Safety Authority.
Interests and Achievements:
• Won a Rugby Senior Cup A medal (2007) with St. Fintan’s High School • Qualified fully as a beach and pool lifeguard (2008) • Sports - I play rugby for Suttonians R.F.C. I swim and go to the gym regularly to keep fit. I am also a keen golfer and a Member of St. Anne’s GC, Dollymount, Dublin. I have an interest and partake in other sports, such as surfing and snowboarding
References:
Referee Name: Norman Prendergast
Referee Title: Director
Referee Address: Bargaintown Ltd., Dublin
Contact No: 087 2639629
Referee Name: Declan Howard
Referee Title: Manager
Referee Address: Fingal County Council, Dublin
Email: declan.howard@fingalcoco.ie
Contact No: 087 9674849
D
77 Ashcroft, Raheny, Dublin 5, Ireland
Mobile: +353(0)87 6324040
Email: john.sullivan23@mail.dcu.ie
John Sullivan
Education
Sep 2008 – May 2011 Honours Bachelor Degree in Business Studies Dublin City University, Business School, Dublin
Sep 2001 – Jun 2007 Leaving Certificate Saint Fintan’s High School, Sutton, Dublin 13
Work Experience:
Sep 2010- Present IKEA Store, Dublin Full-time Position: Supervisor
Jun - Aug 2010 Broadway Moving Company, Vancouver Full-time Position: Sales Assistance
Jul 2009- May 2010 IKEA Store, Dublin Full-time Position: Sales Assistance
May 2006 - Aug 2007 Nolan’s Supermarket, Dublin Full-time Position: Cashier
Mar 2006 Seapoint Engineering, Dublin3 Full-time (internship)
Voluntary work:
Summer work – Raheny GAA Coaching and refereeing at Camps/ Mini Leagues
Practical Skills/Qualifications:
• ECDL certificate for computers
• Certificate for manual handling (2009)
• Qualified Gaelic Football Coach
• Qualified Soccer Coach
• Customer Service course completed
• Level 3 Lifeguard
Interests and Activities:
• Gaelic football: Raheny GAA Senior AFL 1 and U21’s
• Coaching football/hurling
References:
Referee Name: Mr. Adam Sewell
Referee Title: President
Address: Broadway Moving LTD,
West Broadway Avenue,
Vancouver BC
Referee Name: Ms. Robin Dixon
Referee Title: Children’s Department Manager
Address: IKEA, Ballymun, Dublin 13.
E
25 Riverbank House, Islandbridge, Dublin 8, Ireland
Mobile: +353(0)857139372
Email: heyiss18@yahoo.com
Issraa Alhiti
Education
Sep 2006 – July 2010 BEng in Electronic Engineering – First Class Honours Dublin City University, School of Engineering and Computation
Sep 2004 – July 2006 Leaving Certificate Pearse College, Dublin
Projects:
I have been involved in different group projects during my university study. In first year I was involved in a group project to develop a football robot player that won the first prize. In second year I developed a Java/C++ program for a clinic database. In third year I was part of a team to develop a business plan for a new product. For internship I did a research project on modeling of interconnects. In final year I worked on a project to simulate laser mode locking using Matlab.
Skills/Qualifications:
• IT: Proficient in MS Word, Excel and PowerPoint. Advanced in Dreamweaver, Matlab, PSpice and Scilab. • Computer Languages: java, C, C++, Linux, assembly Language. • Electronic circuit design (Digital/Analogue). • Languages: English and Arabic - fluent • Full Irish driving licence.
Work Experience:
Oct 2010 - Present Jinny Software Ltd, (Full time), Dublin Position: Operating Engineer • Deal with clients (Mobile companies) providing messaging and mobile solutions
June - Sep 2004 Wierd Internet Café, (Part time), Dublin Position: Supervisor • Developed skills in customer service and organisation skills. • Assisted clients with any internet-related queries and international phone calls.
Sep - Nov 2003 Centra Newsagent, (Full time), Dublin Position: Cashier • Worked in a busy newsagent whilst ensuring outstanding customer service. • Displayed the ability to thrive in a high-pressure, fast-paced environment. • Demonstrated customer focus, drive and resilience.
Professional Memberships:
• Member of the Institution of Engineering and Technology (IET). • Member of Engineers Ireland
References:
References available upon request.
F
6 Shielmartin Drive, Sutton, Dublin 13, Ireland
Mobile: +353(0)87 6314604
Email: jamie.moore@98fm.com
Jamie Moore
Education
Sep 2007 – May 2009 HND in Journalism Colaiste Dhulaigh CFE, Coolock
Sep 2005 – Jun 2007 Leaving Certificate Saint Fintan’s High School, Sutton, Dublin 13
Sep 2001 – Jun 2004 Junior Certificate Saint Fintan’s Highl School, Sutton, Dublin 13
Work Experience:
Jun 2008- Present 98 FM Radio Station, Dublin Full-time Position: Sound Engineer
Mar 2008- Present Irish Independent and Evening Herald News letter, Dublin Part-time Position: Freelance Writer
Jan 2008- Present Football Association of Ireland (FAI), Dublin Part-time Position: Football Coach
Jun 2006 - May 2008 98 FM Radio Station, Dublin Part-time Position: Producer
Awards:
• Nominated for PPI News Reporter of the year for Documentaries in 2010 .
Interests:
Football, table tennis, snooker, animals, gym, walking, running, music, TV, movies, electronics, driving, socialising, relaxing, swimming.
References:
Referee Name: Chris Doyle
Referee Title: CEO 98FM
Contact No.: 01 4398800
Referee Name: Dave Courtney
Referee Title: Sports Editor Irish Independent
Contact No.: 01 7055611
Appendix 2 - Charts
A
Organisational Structure
[pic]
B
Gantt Chart
[pic]
Appendix 3 – Primary Sources
Written transcript for interview with Denis McEvoy – Station Manager of DCU fm
Place: Henry Gratton building/DCU
Date: 05-05-2011
Introduction: Greetings, a brief summery about the project and the module, and thanking the interviewee for his participation.
Q 1 – What is the essential equipment that we need to launch a radio station? And what is the roughly cost for each of them? Well, I’m not sure about their costs, but the main equipment you will need:
• Standard desk & Mix Desk … (cost unavailable) • Special Studio Desk … about € 2500 • Headphones (proper special ones) … (cost unavailable) • Sound proof studio … € 10,000 (more/less depending on the station’s area and how noise it is) • 4-5 Microphones (proper special ones) … about € 200 each • At least 3 computers, one for Production, one for Streaming and one for Playing … cost depends on their brands and models • Software called RCS (sound software) … cost available online • Key suppliers like Broadcast Traffic Systems (BTS) and Audio Warehouse
Do you think is better to purchase or hire them at this stage? I think you should buy them, in fact I don’t know if there is a place in Dublin offer to them to hire. This kind of equipment is expensive and can be easily damaged.
Q 2 – What type of license(s) that we need to run a radio station in Ireland? And how much they charge for it? The license that you need to broadcasting is issued from Broadcasting Authority of Ireland (BAI). However, I believe that it will be so difficult to get this kind of license. There are many requirements and conditions to be eligible for this type of license. As a new, specific and small station, I advise you to start online using Internet for your station. It is easier and cost effective, and can be broadcasting to the whole country, not like the regular “air “one which is only for Dublin, and then you will need other ones for the rest of counties. Again, while the BAI license is too expensive and very restricted, the online one is much cheaper and easy. The online one called Limited Online Exploitation Licence (LOEL), issued from Irish Music Rights Organisation (IMRO). Its cost only €200, but maybe a bit more if the station is for commercial use.
Q 3 – What about royalties or the payments to the record companies to play the music? I’m not sure about this point, but what I know that it is some certain amount that you need to pay; I mean not different charges for different songs or singers. I think you need to contact A woman called Jessica Tracy from the Irish Music Rights Organisation (IMRO).
Q 4 – Do you have any suggestions about how much we should charge for selling airtime? No not really, I think you have to approach some radio stations about that to take an idea about how much they charge for advertisements. Anyway I think some stations playing ads sometime with no charge just as breaks between songs in some specific times of the day. Consider that when you decide the ads prices.
Q 5 – Any other start-up costs for our business idea of GYM FM radio station? The place is very important. You should find a visible and known address for your station where people can be aware of it easily. Pay attention that the place should be easy to reach and has parking spaces as you will have many guests in your station. Choosing an address around the town is recommended. Also the staff, you will need one technical operator (full time) and DJ (DJ staff can do technical stuff when they are free and not doing mixing songs etc…). These DJ specialists charge about € 100 for a shift of 5-7 hours, and the number of DJs that you going to need is depend on the size of the station.
At the end of the interview, I appreciated Mr McEvoy contribution in our project and for all the useful information that he provided us.
I addition, I mentioned to him about our attempt, at the end of semester one, of arranging with the DCU gym to test our station there through the DCU fm. However, kindly, Mr McEvoy was very helpful and happy to offer us this opportunity. He said that we can use DCU fm for an hour to test our station anytime next few weeks.
Emails
Cost of Sales
---------- Forwarded message ----------
From: Jamie O Sullivan
Date: 5 May 2011 11:01
Subject: Re: Cost of Sales
To: Sandra O'Keefe
Hi Sandra,
We really appreciate your time. Thanks very much.
Regards,
Jamie.
On 5 May 2011 10:19, Sandra O'Keefe wrote:
Hi Jamie,
Most of our adverts are 30 seconds long and the cost per 30 second ad is 24 euro + vat. The cost for a general production costs of the advert is 50 euro + vat per ad but if a certain voice over is requested it would depend on how much they charge.
Our main source of income would be advertising (general advertising, sponsorships, outside broadcasts, obituaries) Local sales reps and national agencies.
To my knowledge we have no other form of income I think another radio station my rent space on some of our aerials but I would not have figures on that.
Our listenership figures are growing all the time our current market share is 55.7%. Our sales figures are back on previous year but not drastically.
Hope this helps,
Sandra
From: Jamie O Sullivan [mailto:jamie.osullivan2@mail.dcu.ie]
Sent: 04 May 2011 18:45
To: Sandra O'Keefe
Subject: Cost of Sales
Dear Ms O'Keefe ,
My name is Jamie and I am a final year student in Dublin City University. Myself and some of my fellow students are interested in the radio industry. We are conducting some research with a number of radio stations in Dublin such as Dublins98fm and we would like some information about a radio outside of Dublin. We would greatly appreciate it if you could spare the time to aid us in our studies.
In relation to your cost of sales i.e. selling spots, what costs do you typically incur while trying to make revenue? Does Tippfm have any other form of income? Is the radio advertising industry prospering or is it in decline with regard to your experience?
Any sort of feedback would be greatly appreciated. Thanks for your time.
Regards,
Jamie.
Marketing
To whom it may concern,
We are a group of postgraduate students at Dublin City University. We are conducting research on the viability and marketing potential of a gym orientated radio station. Basically we have acquired an internet license to broadcast and our next step is to acquire a FM frequency broadcasting license to go national. Our service consists providing high tempo/popular/non-repetitive music at peak gym using times i.e mornings and evenings. We also invite special guests with expertise in nutrition,fitness,weight training routines etc to discuss these areas and engage with our listeners.
We are just seeking an expression of interest from you. Would you be interested in: 1. Advertising your gym (memberships etc.) on our radio station? 2. Partnering up with us in a promotion scheme that would benefit both parties e.g. you may introduce a 'free day Friday' policy where you allow members to bring guests for free on the last day of every month and we could broadcast from your facilities promoting this scheme to the wider public? 3. Would you advertise a link to our station on your website?
Any sort of feedback would be much appreciated and we will be sure to mention it in our publications. Thanks for your time.
Regards,
Jamie.
Hi Jamie,
Sounds like a good idea. Obviously it would depend on the advertising rates
Best Regards
Alison Kane
Assistant Manager
Westpark Fitness
Tel: 4626911
Email: fitness@westpark.ie
Insurance
[pic]
[pic]
Commercial License
Hi Jamie Thanks for the email. The Broadcasting Commission of Ireland (BCI) operated a licensing policy in line with the provisions of the Radio and Television Act 1988 and the Broadcasting Act 2001. In practice an application fee was charged to potential applicants for commercial radio licenses etc. It was BCI practice that a certain amount of that fee was returned to unsuccessful applicants. In the case of temporary broadcasters an application fee was charged also. The Broadcasting Authority of Ireland (BAI) has similar powers under the Broadcasting Act 2009. Temporary broadcasters are charged an application fee. Certain Broadcasters must also pay the BAI levy which is a charge levied on broadcasters to pay for the administration costs of the BAI. Further details on the levy are available on the website. The Authority will develop and publish a Broadcasting Services Strategy and licensing plan for the sector this year and the matter of application fees/other costs will be considered during that process. I hope this is helpful and if you require any further information please contact me. Regards Brian Furey Communications Officer Broadcasting Authority of Ireland – Údarás Craolacháin na hÉireann
2-5 Warrington Place, Dublin 2, Ireland
T: + 353 (0)1 644 1200
F: + 353 (0)1 644 1299
E: bfurey@bai.ie
W: www.bai.ie
Internet Radio License
On 6 May 2011 10:28, Jessica Treacy wrote:
Hi Jamie,
Thanks for your mail. Yes, if a station is generating more than €7000 in gross revenue per annum then the Joint Online Licence will apply. Royalty is calculated on percentage of gross revenue subject to a minimum per stream. Gross revenue and music usage data is reported on quarterly basis and then invoiced accordingly.
I have attached a summary of the Joint Online Licence which details the rates. A typical online radio station would fall under the ‘Pure Webcasting Service’.
A licence is also required for use of the sound recordings, Phonographic Performance Ireland (PPI) can advise further on this.
If you have any queries in particular relating to the JOL please don’t hesitate to let me know.
Best regards,
Jessica
Jessica Treacy
IMRO/MCPSI Online Mobile Accounts
MCPS (Ireland) Limited / Irish Music Rights Organisation (IMRO),
Copyright House,
Pembroke Row,
Lower Baggot St,
Dublin 2
Ireland
DD: 353 1 6448030
P: 353 1 6614844
F: 353 1 6611316
E: jessica.treacy@imro.ie
W: www.imro.ie
W: www.imro.ie/mcps/about-mcpsi
Pay Online: http://www.imro.ie/content/licence-payments
IMRO | Cherishing Music In A Changing World
From: Jamie O Sullivan [mailto:jamie.osullivan2@mail.dcu.ie]
Sent: 06 May 2011 10:20
To: Jessica Treacy
Subject: Internet Radio License
To whom it may concern,
We are a group of Masters students doing some research into the Irish radio industry. We are particularly interested in the licensing aspect. For example, if we wanted to establish an online radio station that generated revenues in excess of €7,000 we would need a JOL in order to play the copyright music. Is that right? How much would this cost per month? or what is the easiest way to calculate the cost? We would greatly appreciate your help and will mention it in our publication.
Regards,
Jamie.
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Tel: +353 1 6614844 Fax: +353 1 6763125
Company Registration Number: 133321
Email: info@imro.ie
Web: www.imro.ie
Investment
---------- Forwarded message ----------
From: David OSullivan
Date: 6 May 2011 10:59
Subject: RE: Investment
To: Jamie O Sullivan
Yes I agree with your Terms and Conditions for my 10% investement.
Best Regards
David O Sullivan
Conserve Oilfield Services Ltd
Port Harcourt
Rivers State
Nigeria
Mob: + 00 234 7066 998740
E mail: david.osullivan@conserveplc.co.uk
Website: www.conserveplc.com
This message, and any associated files, is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential, subject to copyright or constitutes a trade secret.
If you are not the intended recipient you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited.
If you have received this message in error, please notify us immediately.
From: Jamie O Sullivan [mailto:jamie.osullivan2@mail.dcu.ie]
Sent: Fri 06/05/2011 10:56
To: David OSullivan
Subject: Re: Investment
Dear Mr. O'Sullivan,
We are more than gracious to accept your offer of €40,000 for a 10% stake in GymFm Ltd. We are thrilled that you want to join us on this business venture and we believe your investment will yield you profits in the near future. We must agree on the formalities in line with this investment: • Your €40,000 investment is 'risk capital' meaning it may be lost and is not repayable • Equity investment does not automatically give a right to management involvement • Your investment may be diluted by other investors
Please give your consent to this agreement and we look forward to working with you at GymFM.
Regard,
Jamie
On 6 May 2011 10:54, David OSullivan wrote:
Dar Mr. O'Sullivan,
I am willing to invest 40,000 euro in your company for a 10% stake,please let me know your thoughts on this as soon as possible.
Best Regards
David O Sullivan
Conserve Oilfield Services Ltd
Port Harcourt
Rivers State
Nigeria
Mob: + 00 234 7066 998740
E mail: david.osullivan@conserveplc.co.uk
Website: www.conserveplc.com
This message, and any associated files, is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential, subject to copyright or constitutes a trade secret.
If you are not the intended recipient you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited.
If you have received this message in error, please notify us immediately.
CV
---------- Forwarded message ----------
From: Jamie O Sullivan
Date: 6 May 2011 13:38
Subject: Re: CV
To: Jamie Moore
Hi Jamie,
We have looked at your CV and are very impressed. We would like to offer you the position as head DJ/Presenter of GymFM. As you are aware we are only beginning this business venture and funds and resources are tight. You are also aware that your job will not produce a regular salary. However we hope to be able to give you some sort of compensation as we increase our profits. This job will give you experience and we hope to establish you as a household name in the Irish radio industry. We are all looking forward to working with you.
Best Regards,
Jamie O'Sullivan.
On 6 May 2011 12:22, Jamie Moore wrote:
CULLICULM VITAE
NAME: Jamie Moore
ADDRESS: 6 Shielmartin Drive, Sutton, Dublin 13, Ireland
DOB: 22/06/1989
POB: Dublin
NATIONALITY: Irish
MOBILE: 087 631 46 04
HOME: 01 – 8392800
EMAIL: Jamie.moore@98fm.com
EDUCATION
Attended St. Fintan’s National School, Sutton 1993 – 2001
Attended St. Fintan’s High School, Sutton 2001 – 2007
Attended Colaiste Dhulaigh CFE, Coolock 2007 – 2009
PROFESSIONAL QUALIFICATIONS
Achieved 405 points in Leaving Cert examination in 2007
HND in journalism
Electronic Computer Driving Licence
Qualified radio studio sound op
Qualified FAI football referee
Qualified UEFA football coach (Level 3 of 6)
WORK HISTORY
Producer in 98FM from 2006 – present
Sound engineer in 98FM from 2008 – present
Freelance writer for Irish Independent and Evening Herald from 2008 – present
FAI football coach (part time) 2008 – present
AWARDS
Nominated for PPI News Reporter of the year for Documentaries in 2010
INTERESTS
Football, table tennis, snooker, animals, gym, walking, running, music, TV, movies, electronics, driving, socialising, relaxing, swimming.
REFS
Chris Doyle CEO 98FM 439 88 00
Dave Courtney Sports Editor Irish Independent 7055 611
Jamie Moore
98FM
The Joan Lea Show & Now That's What I Call Sport
Ph: 087 631 46 04
Mail: jamie.moore@98fm.com
Cost Estimates
---------- Forwarded message ----------
From: Jamie O Sullivan
Date: 6 May 2011 15:57
Subject: Re: Cost Estimates
To: "Paul Brewer, Audiowarehouse"
Dear Paul,
Could you give me some guidance ? I take it this is a broadcast studio?
Yes it is a broadcast studio
What is the goal of the project ?
The goal of the project is to establish an internet radio station with the possibility of acquiring a FM frequency license in the future.
Do you have a budget in mind ?
We know that broadcasting equipment is expensive and sensitive therefore we want to buy new equipment at the cheapest possible price.
Is a 'standard desk' something similar to a office desk ?
Yes
What is the 'Mix desk' to do ? How many chans? Analogue or digital, with or without DAW control.
We will require a 10 channel mix desk. 4 channels for the 4 mics, 3 channels for 3 computers and a phone line channel. An extra two faders in case we require them. Analogue/digital? whichever is cheaper and suits our needs. DAW if required?
How many studios ?
We will just have the one studio. We try to sound proof it to the best of our ability - thick carpet/walls/double glaze windows/thick door etc.
Sound control?
What options are available?
Thanks for your help.
Regards,
Jamie.
On 6 May 2011 14:18, Paul Brewer, Audiowarehouse wrote:
Jamie,
Thanks for your mail .
However, you have asked me the most 'how long is string' question I've seen in a long time!
Could you give me some guidance ? I take it this is a broadcast studio?
What is the goal of the project ?
Do you have a budget in mind ?
Is a 'standard desk' something similar to a office desk ?
What is the 'Mix desk' to do ? How many chans? Analogue or digital, with or without DAW control.
How many studios ?
Sound 'proofing' and Sound 'control' are entirely different things. Control can be done relatively easily (and cheaply) unlike 'Soundproofing', as a rule.
Thanks, Paul.
On 6 May 2011, at 13:14, Jamie O Sullivan wrote:
Dear Paul,
Would you be able to give me a break down of the cost of each piece of equipment I may require: • Standard Desk • Mix Desk • Headphones • Studio Desk • Sound proof - for each studio • 4 Mic's • 3 PCs one for Production, one for Streaming and one for Playing • Software - RCS
I hope to hear back from you soon. Thanks for your time.
Regards,
Jamie.
Regards,
Paul Brewer. www.myspace.com/paulbrewer www.myspace.com/audiowarehouse http://twitter.com/AudioWarehouse Check out our New Updated Website www.AudioWarehouse.ie
437b Howth Road, Raheny,
Dublin 5, Ireland.
Ph. +353 (0)1 831 2200
Mob. +353 (0)86 811 6115
Fax. +353 (0)1 851 2596
Skype - mr.p.brewer
Alternate Email- PaulBrewer@o2.ie www.AudioWarehouse.ie This e-mail and the information it contains may be legally privileged and/or CONFIDENTIAL. The unauthorised use, disclosure, distribution and/or copying of this e-mail, or any information it contains, is prohibited and could, in certain circumstances, constitute a criminal offence. If you are not an intended recipient please informAudio Warehouse by return e-mail or telephone +353 (0)1 831 2200. E-mail may be susceptible to data corruption, interception and unauthorised amendment, and we do not accept liability for any such corruption, Interception or amendment or the consequences thereof. Only weirdos read the bottom of E-mails.WE RESERVE COPYRIGHT ON ALL ATTACHMENTS CONTAINED IN THIS MESSAGE copyright 2005 Audio Warehouse Ltd. E /OE
Cost Estimate 2
---------- Forwarded message ----------
From: Jamie O Sullivan
Date: 7 May 2011 11:23
Subject: Re: Estimate
To: JOHN BYRNE
Dear John
It is a broadcast studio
What is the goal of the project ?
The goal of the project is to establish an internet radio station with the possibility of acquiring a FM frequency license in the future.
Budget?
We know that broadcasting equipment is expensive and sensitive therefore we want to buy new equipment at the cheapest possible price.
Is a 'standard desk' something similar to a office desk ?
Yes
What is the 'Mix desk' to do ? How many chans? Analogue or digital, with or without DAW control.
We will require a 10 channel mix desk. 4 channels for the 4 mics, 3 channels for 3 computers and a phone line channel. An extra two faders in case we require them. Analogue/digital? whichever is cheaper and suits our needs. DAW if required?
How many studios ?
We will just have the one studio. We try to sound proof it to the best of our ability - thick carpet/walls/double glaze windows/thick door etc.
Sound control?
What options are available?
Thanks for your help.
Regards,
On 7 May 2011 10:31, JOHN BYRNE wrote:
Hi Jamie
The specifications you have for the three desks are a little ambiguous, could you please advise at least the requirements of each one if indeed they are different or if you have an actual specific preference. As regards the sound proofing, this would need to be based upon the rooms involved. You should also be aware sound proofing is different from acoustic treatment and depending on the problems involved can be costly. If you want me to look at the rooms and advise i will do.
As regards PC’s and software, bar larger protocols systems we don’t tend to get involved in such like as many organisations have pact deals with hardware suppliers and you are better to deal direct with the likes of RCS on software licenses. Let me know what best suits.
JOHN
From: Jamie O Sullivan [mailto:jamie.osullivan2@mail.dcu.ie]
Sent: 06 May 2011 11:03
To: John@AudioWarehouse.ie
Subject: Estimate
Dear John,
Would you be able to give me a break down of the cost of each piece of equipment I may require: • Standard Desk • Mix Desk • Headphones • Studio Desk • Sound proof - for each studio • 4 Mic's • 3 PCs one for Production, one for Streaming and one for Playing • Software - RCS
I hope to hear back from you soon. Thanks for your time.
Regards,
Jamie.
Quotation
---------- Forwarded message ----------
From: Sean Power
Date: 10 May 2011 13:51
Subject: Quotation
To: "jamie.osullivan2@mail.dcu.ie"
Hi Jamie,
Attached is a brochure on the Airmate USB Broadcast Mixing Desk, Cost on this is 1,995euro ex VAT.
Headphones, I’d recommend the Beyerdynamic DT100 which are industry standard, these are 137.10euro ex VAT.
Microphones, This is dependant on how much you want to spend, I’d recommend the Rode NT2a ( 322euro ex VAT ) for the main Mic and the Beyerdynamic M201 ( 229euro ex VAT ) for the guest Mic’s but there are cheaper solutions like behringer.
Playout Software, We don’t sell RCS Master Control directly, you would need to contact RCS but there are other alternatives including a nice Free piece of software called Zararadio http://www.zarastudio.es/en/.
Sound proofing is done by a company called Wood At Work, James Mc’Kenna is the contact, he’s on 0876373608.
Hope the above helps, let me know if you need any more info,
Kind Regards,
Sean Power
Broadcast Engineer
Broadcast Technical Services Ltd.
Unit 20, Bluebell Business Park,
Old Naas Road,
Dublin 12.
Ireland.
Tel: 00 353 1 460 60 60
Fax: 00 353 1 460 60 20
Mob: 086 8200641
Skype: seanbts email: spower@bts.ie
WEB: www.bts.ie
The information in this e-mail is confidential and may be legally privileged. It is intended solely for the addressee. Access to this e-mail by anyone else is unauthorised. If you are not the intended recipient, any disclosure, copying, distribution, or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful. Broadcast Technical Services Limited. Registered Office - Unit 20 Bluebell Business Park, Bluebell, Dublin 12. Registered No: 167128
Endorsement
---------- Forwarded message ----------
From: James Fennelly
Date: 10 May 2011 14:59
Subject: Re: Endorsement
To: jamie.osullivan2@mail.dcu.ie
Hi Jamie,
Thanks for the interesting email and it seems you have a good idea there.I would be interested in helping you out if you required me.Music plays a big part in our training and we have different types of music for different classes in my gym.When im training myself and i need a kick up the ass then some acdc is required!!
If you want to talk more at some stage my number is 086 8771604 no problem at all.
Regards
James
-----Original Message-----
From: "Jamie O Sullivan" [jamie.osullivan2@mail.dcu.ie]
Date: 05/07/2011 03:01 PM
To: info@jamesfennelly.com
Subject: Endorsement
Dear Mr. Fennelly,
We are a group of postgraduate students at Dublin City University. We are conducting research on the viability and marketing potential of a gym orientated radio station. Basically we have acquired an internet license to broadcast and our next step is to acquire a FM frequency broadcasting license to go national. Our service consists providing high tempo/popular/non-repetitive music at peak gym using times i.e mornings and evenings. We also invite special guests with expertise in nutrition,fitness,weight training routines etc to discuss these areas and engage with our listeners.
We would like to ask you would you be interested in endorsing our radio if the opportunity ever arose. All were seeking is an expression of interest. How much would your services cost?
Any sort of feedback would be greatly appreciated and we will mention your help in our publications. Thanks for your time.
Regards,
Jamie.
Appendix 4 – Financial Accounts
Cash-Flow Statements
Year 1
[pic]
Year 2
[pic]
Year 3
[pic]
Trading Profit & Loss
Year 1
[pic]
Appendix 5 – SWOT Analysis
The SWOT analysis provides us with the opportunity to examine the internal strengths and weaknesses of GYM FM. It also enables us to examine the potential opportunities for the station, and also any potential threats that may pose a problem or hindrance to the growth of the business.
Strengths • GYM FM management team made up of various different specialisms. Three members are doing law, one doing HRM, an engineer and an experienced radio studio sound operator. This provides us with a broad basis of skills that can be used in the setting up and running of the station. • We have very few if any competitors that are involved in the same area of broadcasting as ourselves, giving us a massive advantage and head start in this particular service.
Weaknesses
• We will be a new business venture and will have to start from scratch when trying to build up customer relationships. Our customers (such as gyms, fitness clubs, sport shops etc…) already have their marketing channels with other established radio stations. • As some people are not comfortable to change, we will be relatively new form of radio stations using a specific type of music and specialised in specific sort of topics. However, we feel confident in the success of the station as we received an encouraging feedback from some experts in this area.
Opportunities
• This is a relatively new change in the broadcasting area in Ireland and we are taking advantage of this in trying to be ahead of any potential competitor stations that may attempt to enter the service. • The opportunity of expansion. We are planning to expand to some other counties other than Dublin, as well as Northern Ireland.
Threats
• The initial threat of the BAI licensing difficulty for broadcasting in Dublin. However, we have the alternative choice of online broadcasting and we will continue trying to sort out this issue. • People may choose to continue with their current favourite radio stations, or might need long time to use to listen to GYM FM.
Bibliography
Books
Courtney, T. & Hutchinson, G. 2002. The Law of Private Companies. 2nd ed. Dublin: Butterworths.
O’Kane, B. 2004. Starting a Business in Ireland: A Comprehensive Guide and Directory. 5th ed. Dublin: Oak Tree Press.
O’Donnell, L. Hausman C. & Benoit, P. 1989. Radio Station Operations: Management and Employee Perspectives. Belmont, Calif: Wadsworth Pub. Co.
Websites
www.airtricity.com
www.bizquip.ie
www.business.eircom.net
www.cro.ie
www.hostingireland.ie
www.jaycee.ie
www.o2online.ie/o2/business/soho/index.php
www.property.ie
www.pumps.ie
www.revenue.ie
www.spin1038.com
www.wrap.org.uk (Envirowise) 