FREE BUSINESS PLAN FORMAT FOR INVESTORS FOR ONLINE EDUCATION/TUTORING COMPANIES/ENTREPRENEURS TO RAISE FUNDS/INVESTMENT FOR STARTUPS.
Business plan preparation companies charge between Rs. 1 lac to 2 lacs. However, I am sharing here free of cost for help of entrepreneurs while giving example of Teaching Care for better understanding:
Problem statement – Core user need for which user will be willing to pay.
Problem statement *
1. Poor availability of quality teachers for offline home tuition:
A limited no. of teachers available in a given locality, area or city can't be accessible to all the students for offline home tuition at student's place. Lack of teacher training to educationally qualified potential teachers & lack of experienced teachers in a given locality/area further compounds the problem.
2. Poor availability of different teachers for each subject under one roof & for all classes
3. Poor availability of quality tuition centers for offline tuition.
4. Uncertainty about credibility of available offline teachers or tuition centers
5. High demand but poor supply of quality teachers makes offline home tuition more expensive.
6. Travel time consumed & travel cost incurred during commuting by student or teacher for offline learning or tutoring further increases tuition charges for the student & makes it less economical for the teacher.
7. Wastage of significant amount of time in tiring traffic in metro cities is a problem both for the tutor as well as for the student.
8. Air Pollution in Cities discourages parents, students & teachers for commuting.
9. Safety & security of student especially the safety of girl child is an issue of most concern for the parent during offline tuition process at home or at offline tuition center.
10. Lack of individual attention in offline tuition centre classes.
11. Ease & Convenience in offline home tuition is lesser than online tuition.
Max 1500 characters
Solution – Solution idea to address the problem statement.
Solution – Core idea to solve the problem *
Solution provided by Teaching Care : Online Live Tuition Classes:
1. EASE, CONVENIENCE & ACCESSIBILITY to a big pool of duly screened, properly tested, thoroughly trained, experienced & quality teachers from across India & abroad
2. BETTER QUALITY TEACHERS are made available at LOW RATES as compared to offline tuition as the teacher doesn’t have to waste time & money in commuting to student’s home or to tuition center.
3. MORE ECONOMICAL & AFFORDABLE for the student as it saves precious time & money that is wasted in commuting and provides better quality teachers at relatively low rates vis a vis offline tuition.
4. MORE FLEXIBILITY in commencement of course schedule, time schedule, class schedule & class duration.
5. FULL INDIVIDUAL ATTENTION in 1 to 1 class or one to few short group class. The teacher provides personalized attention to student based on student's learning level, learning pace & learning requirements.
6. DEMOCRATISED ACESS TO PERSONALISED LEARNING beyond geographical barriers.
7. SPECIALISED TEACHER for each subject under one roof & for all classes.
8. SAFE & SECURE
9. CLASS MONITORING BY PARENT.
10. AUTOMATIC CLASS RECORDING FOR REVISION.
11. BETTER PRESENTATION & LECTURE DELIVERY on account of two way live interactive classroom with real time audio video communication using webRTC technology along with provision of virtual whiteboard for writing, power point presentation, showing images, pdf file, word file youtube video, animation etc. in addition to code writer.
Summary:
Ease & Convenience
Accessibility
Lower Pricing/Affordability
Better Quality of Teachers
Flexibility
Individual Attention
Personalized learning based on student's learning level, learning pace and learning requirements.
Better Presentation & Lecture Delivery
Automatic class recording
Travel time and cost saved.
No tiring traffic congestion
Variety in Courses
All subjects under one roof
Safety & Security
Max 1500 characters
Product description- Key product modules/offerings which as a whole will offer a solution to the problem. *
Online Live Tuition and Live Coaching Classes for
1. Class 4 to 12th for English, Science, Mathematics, Physics, Chemistry, Biology, Computer Science, Business Studies, Accountancy, Economics, Hindi and French
2. JEE main, JEE advance and NEET
3. NTSE, Olympiad, JEE Foundation, NEET Foundation
4. Banking & SSC exams
Max 1500 characters
User Journey - Steps which the user goes through as he/she uses the Product. *
1. Call to Teaching Care or Sign Up for a free trial class.
2. Class link is made available in student's account on Online Tutors,Online Tuition,Teachers, Online classes,Home Tuition, Coaching Classes, Teachers as well as in student's registered email.
3. Teaching Care Counsellor takes feedback after the class. If satisfied, the student makes payment on hourly basis. Minimum 4 hours of payment is needed to start regular classes. More the number of hours booked, higher is the discount given to the student.
Student can choose number of months, number of class hours in a month, class days in a week, class duration and class timing as per his/her convenience.
Normally, the teacher and students keep their schedule flexible by mutually deciding a weekly class schedule.
Max 1500 characters
Validation - Any Proof that the idea will work – Successful example, Industry parallel, Any research, etc. *
#Teaching Care, #Byjus, #Unacademy #Udemy are examples for validation
Max 1500 characters
Addressable market size (INR Crores) – Maximum annual revenue possible, assuming 100% Market Share.
217000
Target Group – Typical profile (persona) of the Target Group (TG) of users who are likely to buy the offering. *
1. Population in the age bracket 9 to 23 years for
a.. School Exam preparation
b. JEE & NEET Preparation
c. NTSE, Olympiads & Foundation
d. Skill development (e.g. spoken English)
2. Offline Coaching Centers & coaching institutes (by providing online live classes by quality teachers to their students)
3. Schools especially those in tier 2 and tier 3 cities. (For JEE, NEET, NTSE, Olympiad & Foundation Courses)
4. Entrepreneurs
5. Govt. organisations (to make skill oriented quality education accessible in remote areas. e.g. Teaching Care in collaboration with Indian Army & Ministry of Defence is already providing online live coaching classes to students of J&K.
6. NGOs : NGOs engaged in educating children in remote areas or to economically weaker sections etc. can be provided collaboration with Teaching Care Online Live Classes
Max 1000 characters
Maximum Annual TG users:
260 million)
Likely ARPU (Annual Revenue Per User): for your offering:
INR
Addressable Market size (Maximum Annual TG users X likely ARPU):
INR Lacs
Key assumptions: To arrive at Addressable Market Size.
• The Indian Education sector is amongst the largest in the world, with an extensive network of more than 1.4 million schools (with over 260 million students enrolled).
• Key drivers include higher enrolment as well as efforts to ensure lower drop-out rates in schools along with, factors such as greater proportion of population in the school going age, growing middle class population with increasing income levels, increasing private spend on education, while challenges relating to access to and participation in education, quality of education imparted, sectoral efficiency, governance and management, and financial commitment to education development also continue to persist.
• The K-12 market at Rs. 1,655 bn in FY17 and is expected to grow at a CAGR of over 13% to reach Rs 2,400 bn in 2020.
• The market size of the Indian coaching classes segment at Rs. 2,170 bn in FY17 is expected to grow at a CAGR of over 13% to reach Rs 3,150 bn in 2020.Max 1000 characters
Competition – Likely competitors & sources of long term competitive advantage.
Competitors – Serving the customer need with a similar product.
#Byjus, #Unacademy #Udemy
Max 1500 characters
Differentiation – Unique selling proposition which differentiate you from Competitors.
Better Quality Teachers. Personalised Care. 24x7 Customer Care Support.
Competitors could not harness the market to its full potential as the education market size in India is huge. Secondly, the customer satisfaction regarding quality control of tutoring is yet to be addressed to a large extent by dominant players as seen by user feed-backs on various online platforms.
Given the current visibility & quality tutoring by Teaching Care, the customer response in overwhelmingly encouraging. Teaching Care is poised at a much better position to overcome the competition in the market.
Max 1500 characters
Long term competitive advantage – (MOAT)- 2-3 advantages you will achieve in 5-10 years, due to which no one can put you out of business easily.
1. Brand Status
2. Enough visibility in the market
3. High Profitability
4. Strong International presence
5. Strong networking B2B & B2C
6. Tie ups, Associations, Collaborations
7. Product diversification
8. Strong Customer Trust on quality of our products & services
Max 1500 characters
Business Model – Key tenets about how is Business is run.
Revenue model / Pricing Structure – Key revenue sources and pricing levels.
Key revenue sources:
You can mention your key revenue source mechanism.
Pricing levels :
1. School Exam preparation Rs. 300 to 700 per hour
2. JEE & NEET Preparation Rs. 500 to 1200 per hour
3. NTSE, Olympiads & Foundation Rs. 300 to 700 per hour
4. Skill development (e.g. spoken English) Rs. 300 to 700 per hour
Max 1000 characters
Production method – Methods to create different product modules/offerings be created? For e.g.: Content, Website, etc.
The product -online live tuition & coaching classes is delivered via Teaching Care portal by its big pool of high quality trained teachers.
The teachers are screened, tested, trained and interviewed during teacher selection process online before making live on the website.
Only good quality teachers with strong educational background & or minimum two years of teaching experience are sorted out before training & interview.
The fresher with strong educational background are also given rigorous training about art of teaching, virtual classroom tools, lecture planning, content planning, lecture delivery, presentation, communication, reaching out to level of student & student learning needs, maintaining interaction with the student in the classroom, lecture speed, efficiency and teacher specific tips & feedback to teacher during demo lecture.
Only those who fulfill the selection criteria are selected to deliver live classes to the students.
Max 1000 characters
Sales / Growth method – Channels to be used and method to sell through each channel.
Sales Channels Method to Sell
SEO (Search Engine Optimization) : Regular SEO done partly by Teaching Care team and partly with the help of SEO service provider companies. SEO aspects: On-page optimisation, Technical SEO, off-page optimisation, Content Marketing, Blogs, video submission, articles, listings, classified submission, Bookmarking etc.
Google Ads : Via sales optimized Google advert account handled by Teaching Care team
Facebook ads: Via Teaching Care's own sales optimized Facebook ad account handled by Teaching Care team
Youtube : Via sales optimized Youtube ad account handled by Teaching Care team
Instagram ads: Via sales optimized Instagram ad account handled by Teaching Care team
Bulk SMS : With the help of Bulk SMS service providing companies
Bulk Emails : With the help of Bulk email service providing companies
Just Dial Leads : Paid Just Dial leads
Sulekha Leads : Paid Sulekha leads
Radio ads:
Newspaper ads :
Max 1000 characters
Servicing method – Channels to service the users.
All live class services are delivered via Online Tutors,Online Tuition,Teachers, Online classes,Home Tuition, Coaching Classes, Teachers portal with the help of its service support staff.
Max 1000 characters
Renewal method – Methods to make customers buy the product next one.
Renewals on the part of customer is ensured by providing customer delight by way ensuring regular quality services to the customer both on teacher front as well as at support staff front.
Max 1000 characters
Execution – Implementation so far (Only for ventures which beyond Idea stage).
Total Revenue Earned (INR Lacs)
Total Expenses Incurred (INR Lacs)
Sales & Marketing Expense (INR Lacs)
Unique User - Free (End user of offering, eg. students)
Unique User - Paid (End user of offering, eg. students)
Unique Customers - Free (Those who are willing to pay for the product, eg. parents/schools)
Unique Customers - Paid (Those who are willing to pay for the product, eg. parents/schools)
No. of Transactions (Including Repeat Purchase)
Right to Exist – Why do you think the team will be able to create successful business?
Summary (1485 Character)
1. NO SUBSIDISATION to students or teachers unlike other competitors who always have an inherent risk of unsustainability in the pursuit of increasing customer base by burning cash in subsidy. This has laid a strong foundation for long term sustainability of the company Teaching Care Pvt Limited and to progress with strong footing.
2. NO COMPROMISE ON QUALITY OF TUTORING to any extent resulting in 100 percent student satisfaction.
3. COST CUTTING ON UNPRODUCTIVE EXPENSES:
4. MINIMAL MANUAL OPERATIONS : Edtech enabled operations with high level of automation & minimum manual activity in most of the operations ranging from payment collection to class conduction has resulted in further cost cutting.
5. Decentralized system of Teachers: Unlike V-Sat enabled classes wherein a physical studio set up is required and the teachers take classes from that studio, Teaching Care's technology is much advanced. Teaching Care makes use of Web-RTC technology that works on all the browsers with real time audio video communication wherein the teachers and students are taking classes from anywhere in the world. i.e. teachers & students take classes at comfort of their home and at their own convenient time.
6. RICH EXPERIENCE OF FOUNDERS IN TEACHING & COACHING : Dr. RAJU SINGH-Founder DIRECTOR
Alumnus J.N.U., New Delhi. Rich experience in Tutoring, Teacher Training, Monitoring & Management.
Successful management of e-Learning startup studyinnovations.com from 2001.
Max 1500 characters
Funding
Ask
INR Crores
Expected Valuation
INRCrores
Total Investment so far (Founder)
INRCrores
Total Investment so far (Other)
INRCrores
Thanks.
I am sure the business plan format given above will save many months of time & lacs of Rupees of entrepreneurs. All the Best
Director
Teaching Care Pvt Limited : Online Live Tuition Classes
TeachingCare.com
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