OAF is committed to improving the lives of students in Honduras. Our team’s objective involved learning about OAF's current practices and resources to propose strategies that will support its financial sustainability and educational mission. Our firsthand experience in Honduras and our research revealed key insights and recommendations that could reshape the organization's future.
In Juticalpa, we met dedicated individuals at OAF that allowed us to explore their core businesses and uncover valuable insights. Our findings revolved around four key areas: tourism, crafts, the local market, and OAF's schools.
Tourism: OAF holds the potential to offer unique experiences to visiting learning groups, capitalizing on their expertise, local relationships, and the rich cultural and natural experiences in Olancho.
Crafts: Nazareth students make great quality projects. There is an opportunity to sell to the international market because of their compelling story, high margins and existing relationships with donors and visiting groups.
Local Market: Our investigation revealed low demand for souvenirs and an underdeveloped marketplace for local small entrepreneurs.
OAF Schools: Given Cardenal doesn’t currently offer extracurricular activities, there are opportunities to partner with INFOP and integrate more students in OAF's operations.
These key observations helped to shape our final recommendations that align with OAF's mission and potential for impact. For our suggestions we concentrated on three key areas:
Visitor Experience: Enhancing OAF's revenue by targeting universities and likeminded agencies aligned with its educational mission, standardizing trip itineraries, and raising trip value and prices to increase profitability.
Student Crafts: Optimizing production by focusing on profitable products that OAF can sustainably produce (paintings and Christmas ornaments), implementing unique seasonal collections, and scaling operations by focusing on the US market.
Extracurricular Activities: Partnering with the INFOP Training Institute to offer professional training to students, enriching their educational experience. Offering extracurricular business internships for Cardenal students to support OAF's micro businesses through work such as social media, graphic design, and content creation.
Financial Projections
Our financial analysis underscores the substantial impact of our recommendations. By increasing trip prices and standardizing itineraries in the visitor experience, there is a potential for significantly increased revenue. This adjustment could lead to generating up to $5,000 in profit per trip compared to the current $1,000, translating to a potential annual increase from $10,000 to $50,000. Simultaneously, streamlining student crafts and targeting the international market could contribute approximately $3,700 in additional profit to OAF's overall operations.
In conclusion, our recommendations are designed to enhance OAF's revenue, educational opportunities, and visitor experiences. These strategies hold the promise of supporting OAF's financial sustainability and furthering its mission of empowering its stakeholders.