Business plan for STEMBus – a mobile makerspace
STEMBus is a mobile makerspace that travels to disadvantaged under-resourced K-12 schools year-round to provide STEM (Science, Technology, Engineering and Mathematics) educational experiences to students in their classrooms or within the bus itself.
The STEMBus contains a variety of high-tech tools and equipment, such as 3D printers, laser cutters, CNC machines, soldering irons, sewing machines, electronic kits, arts and crafts supplies, household tools, audio and visual equipment, computers, wood cutting tools, recyclable materials, etc.
Imagine you are a fictional education outreach company called STEMEd where your experienced facilitators travel in the STEMBus to teach science concepts to spark students’ interests in STEM subjects. While many teachers understand the value and benefits of mobile makerspaces, they are not sure whether they should request a STEMBus to come to their school, or whether to establish their own makerspace in their school library.
Write a 3-year business plan for STEMBus, focusing on how your company plans to attract teachers to use your service.
The format of the business plan should be as follows:
I. Executive Summary
II. The Business Model and its Services
III. Industry Analysis
IV. Customer and Market Analysis (you will need to thoroughly research the makerspace movement)
V. Competitive Analysis
VI. Marketing Plan
– Service Strategy ? how will the STEMBus best meet teachers’ needs and how does it compare to your competitors, including non-mobile makerspaces?
– Pricing Strategy ? how will you price your services relative to competitors?
– Place/Location Strategy ? how will the proposed travel locations for the STEMBus best meet the needs of your teachers and/or create an advantage over competitors?
– Promotional Strategy ? how will you promote your business and how will that make customers (i.e. teachers and schools) aware of your business and interested in buying your services?
– Positioning Strategy ? what values do you want potential customers to associate with your business, and how will that set you apart from the competition.
VII. Financial Plan
VIII. Management Plan
IX. Critical Risks – Identify and describe the potential barriers or problems that could arise and lessen the chances of your business being successful. Describe your contingency plans for those risks.