West Liberty University Gary E. West College of Business student Brendan Kacor has qualified for the semifinals in the West Virginia Collegiate Business Plan Competition to be held Nov. 21 at Shepherd University.
Kacor’s business plan is to create and fund a new concert venue, “The Raven Live.” It would be located in West Virginia, possibly in Morgantown, so that music lovers don’t have to travel as far to enjoy music.
“I was surprised! Out of the 191 who presented, only 30 advanced. There were 10 plans presented in my category (Hospitality and Tourism), so I was pleased that I got picked,” Kacor said. The other two business plan categories are Lifestyle and Innovation and STEM/Technology.
As a senior business management major, he is looking forward to the competition. Kacor, who’s from New Martinsville, W.Va., feels that the big plus to his start-up would be the increase in tourism that the concert site would bring to the region.
“I always have to travel to see concerts that I like, so this would definitely increase tourism,” he said. The music he’s talking about is an alternative style of metal music. Known sometimes as “metalcore,” groups like “Bless the Fall” play loud, rowdy music.
He chose the name Raven Live as a nod to the Celtic origins of his name, Brendan, which means raven in some translations.
Kacor himself plays the drums but isn’t in a band. He did the business plan as a class assignment and received an email at the end of October that he was selected to advance.
“I’ve been improving my plan and tweaking it along the way,” he said. “Professor Carrie White met with me to help me as I developed the plan. She was able to arrange a meeting for me with Kyle Knox, the events manager for Wheeling’s Wesbanco Arena and his information was very helpful.”
“Brendan wrote the business plan in Professor Craig Crow’s class, then presented his pitch to my entrepreneurship promotion class. Now it’s just about getting the financials together and talking to the judges,” said White, who is accompanying him to the competition. “All of us at the Gary E. West College of Business wish him luck.”
White is the director of the entrepreneurship program at the College of Business and is pleased that Kacor is the first student from the entrepreneurship program to advance in the annual business competition.
“We had 12 entries this year but Brendan is the first student from our entrepreneurship program to advance so I’m very pleased,” White said. WLU began its entrepreneurship program in 2012.
The semifinals consist of a written feasibility plan already submitted via email, plus a two-minute elevator pitch and formal interviews conducted on Nov. 21.
White’s been coaching Kacor and feels that he’s definitely ready for the challenge.
“He’s done so well and is working hard to be prepared. This is a great opportunity for him,” she said.
Participants in the West Virginia Collegiate Business Plan Competition must be a full-time college student attending a four-year, degree-granting West Virginia institution or a full-time community college student at a West Virginia degree granting institution.
The competition is open to all majors and three final winners will be picked. Winners receive $10,000 cash in addition to accounting, legal and virtual or physical incubator space.
Whether he wins the final competition or not, for Kacor, this is a strong resume-building experience that will help him land the business opportunity he wants after spring commencement, said White.
“Though he’s not sure what job he’ll end up in after graduation, the hard work of building a successful business plan has already helped him in countless ways,” she said.
The winners of the semifinals will be announced Dec. 1 with the final business plan competition planned for April 10, 2015 at West Virginia University.
