Description of the contract
Frân Wen wish to appoint a business consultant or team of business consultants with extensive experience of business planning within the arts sector, and in particular capital developments, to work with them to develop their vision for a sustainable future.
Following completion of a successful Feasibility Study, Frân Wen is seeking to develop a business model to incorporate its potential major capital development ‘Nyth’.
The Business Plan is considered to be one of the most important elements of the project and its success is critical to the delivery of the proposed capital scheme. It will form the basis of funding applications and will establish a baseline forecast that will determine a sustainable operational model for three years post completion of NYTH; to include programming, day to day operation, management and governance of both the building and Frân Wen as a theatre company.
The consultant (s) will conduct the following:
• Undertake detailed discussions with Frân Wen and key stakeholders to gain a complete understanding of the organisation, its strategic objectives and aims and ambitions for the future including the proposed new development of NYTH.
• An assessment of the company’s strengths, weaknesses, opportunities and threats.
• An assessment of the nature of Frân Wen as an organisation and its capacity to deliver a major capital project.
• Review and challenge the current Business Plan, analysing recent financial performance and projections.
• Clear identification of the opportunities and potential income streams presented by the capital project including venue hire and commercial activities.
• Assess commercial opportunities, analysing pilot event programmes to determine appropriate business model for future programming.
• Incorporation, analysis and co-ordination of the key outcomes of various other plans, proposals and strategies into a robust co-ordinated business case for action. This includes consideration of the physical and strategic relationship of Frân Wen with other developments in Bangor including Pontio, Storiel and the proposed Cultural Quarter and the city’s regeneration strategy.
• There is a prospect of decline in traditional revenue contributions from external sources in future years and the Business Plan needs to show that the operation and management of the company will withstand any potential decline.
• An assessment of the overall costs and benefits associated with the project including related savings and efficiencies.
• Work with Design Team to test assumptions set out at feasibility stage particularly in relation to maintenance and running costs.
• A detailed 5-year cash flow projection including an income and expenditure forecast for 2 years during development and build and 3 years post completion. Again all assumptions should be fully tested
• A project delivery timetable including key milestones and dependencies
• Establish how the project itself will be delivered and the impact on the organisation during development.
• Identify risks and opportunities and produce a risk register.
• Submit conclusions and financial sustainability of the Business Plan.
• Develop, evolve and update the Business Plan ahead of further applications.
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