Entrepreneurship Assesments 2.1 & 2.2
A completele business plan should include the following aspects:
Keys to Success
Three Year Objectives
Product or Service Description
12 Month & 3 Year Sales Forecast
Financial Ratio Analysis
|SWOT analysis helps a business to build on what is done well, to address what is lacking, to minimize risks, and to take the greatest possible advantage of chances for success.|
My questions for the business of my choice, a small Mexican gallery called Uniōn:
What business are you in?
How does the business make money?
What does your business need to become more profitable?
Who are your customers?
How do you reach your customers?
What sets you apart from the competition?
What are your strengths and weaknesses?
What are the biggest challenges you face?
How will you measure success?
|Instagram page of the gallery I interviewed|
Description of the Business Model
An old garage transformed to a gallery, Uniōn is one of the first galleries in the up and coming neighbourhood of Escandón in Mexico City. Escandón is a upper-middle-class, family-oriented suburb located right next to the trendy and international neighbourhood of Condesa, which has lead to many creatives choosing to live in the more affordable Escandón.
Apart from being a gallery, Uniōn offers to host workshops for 4 artists and a forum for presentations, performance, readings, pop up samples with the aim of promoting and publicising artistic and curatorial proposals from different disciplines.
Uniōn is two separate buildings: a small gallery exhibiting both local and international artists, and a large rentable studio space. Born as an alternate headquarters to the actual gallery, the studio space is established in an old winery, and functions as a point of creation and rehearsal, development and experimentation of cultural projects.
|Visiting the gallery during my first internship in Mexico|
Self-Assesment of the Execution Process
My first idea was interviewing a Finnish art gallery - I was eager to get a better idea of how the art business functions here, but unfortunately I did not manage to connect with any gallery.
That's when I remembered the young, enthusiastic gallery owner I met during my first internship in Mexico. He started his gallery in 2018, and had already experimented a lot, being an artist himself as well.
He was happy to be interviewed on the phone and I believe it was easier to discuss the sensitive topic of making money as we already know each other!