Students help HUGE Theater craft business plan for new improv venue in Minneapolis
Thanks to strategic guidance from a Minnesota School of Business-Plymouth Small Business Management class, HUGE Theater, a venue for long form improvisation, created a business plan for the opening of its new theater space on Lyndale Avenue in Minneapolis.
Students collaborated with HUGE board members on all facets of their business plan, seeing the process through from paper to the eventual grand opening on a late December evening.
“It helped me make the connection between all of my hard work going into my personal business plan and how a business truly gets off the ground,” said Lindsay Goblirsch, student.
Students helped HUGE take a step beyond forming SWOT, marketing and break-even analyses and proposed new strategies for increasing the theater’s visibility outside of Minneapolis to surrounding communities.
The class also experienced the nature of entrepreneurial activities, how nonprofit organizations generate revenue streams and the process for selecting a location for a new facility.
LoughRee DeWitte was one of 15 students involved in the project.
“Seeing a real business plan and not just examples from a book, and getting to actually walk in and see the actual product was the best part,” DeWitte said.