The Network Tutoring Agency (NTA) is a general partnership company which will provide networking access between tutors who want to teach, and the clients who are looking for a tutor. Likewise, this company is expected to offer easy access to tutoring services for different field of studies by making its services ready mail for its kings/customers. By saying this, the company will be also founded by a member of three partners while studying their Graduate School program in MSc in Management (specialization in Innovation Management and Entrepreneurship) to discharge their class assignment. Even though, the project has stated for the purpose of the class attainment; its mission got beyond and the founders are really empathetic to get it down into the ground within the upcoming few couple of months. In doing so, the partners are now interested in developing this business into a prime source of revenue generation while retaining the offer of trust and Quality service by taking part in which is cached the partners to the business. So far, this plan is developed in the first step to being used for their class assignment by the one hand and as road map to assist in the development of the business model for their real life on the other side by operating at a very low cost; therefore Network Tutoring Agency may not need capital intensive operations.
The network tutoring agency has also identified different market segments which are perceived as plausible targets given the growing demand of the tutoring business sector. Evidently, tutoring service is listed as one of the top 16 industries for launching a new business with annual growth rate of 7% (2014). And the latest sources of studies from the global analysis, Inc forward as there is a possibility to private tutoring market for exceeding a dollar 102.8 billion by 2018. Thus, the network tutoring agency will offer its services for a variety of subjects by serving both the individual and/or group-based sessions, in the agency may share the benefit of cost decrease to its clients for the group embedded clients. This agency is different in that it has a legal personality which helps it to build a vendor trust in between/among its clients and will have a unique problem-solving learning approach focuses on the systematic pre and post review of the learned behaviors. Therefore, this can also make it preferable.
Taking a unique and innovative approach to teaching that helps learners networked with the subject matter they need to master by assigning legible tutors at their earliest time and convenience places.
Improve operating capacity by full-time commitment in the business and delivering service into wide geographical areas year by year.
Increase net profit margin progressively through Year 3 by increasing customer groups.
Grownup the business into Business and IT consultancy and Training center in the coming 4 to 6 years
Key Success Values
Developing learning methods of approaching students with challenging behavior to get fit their minds with the delivery style.
Promotion of our services by creating excellent word of mouth and distributing advertising material
Definite understanding of client needs and conducting the impact assessment of behavioral changes of which learners bring as a result of learning
Avoiding the fear for the loss of vendor trust by both sides
Business Overview and Ownership
Network Tutoring Agency is a startup firm, which will focus on providing a networking access between tutors who want to teach, and the clients who are looking for a tutor. Network Tutoring Agency is a team of three entrepreneurs. The entire member specializes in a particular discipline either Graduate School program MSc in Management (specialization in Innovation Management and Entrepreneurship).Hence, this Firm is general legally licensed partnership business with which each member will have to register equal shares. On top, the Network Tutoring Agency will operate in the Megacity of Ethiopia by situating its office 4 kilo round about.
Network Tutoring Agency is a startup firm which consumes some inherited start - up Investments for its full operation. Among which the capital tie-ups for its Current and Plant Assets value and expenses (rental costs to be Paid for 6 months ahead, purchase of desktops (substitutability, we can use our laptops) and yearly website crunch payment for registration and analysis survey handling purposes) are of which needs a start-up financing. Hence, this part of the business plan shows all the expected start-ups as follows.
Product and Service
Opportunity: Evidently, tutoring service is listed as one of the top 16 industries for launching a new business with annual growth rate of 7% (2014). And the latest sources of studies from global analysis, Inc. forward, as there is a possibility to private tutoring market for exceeding a dollar 102.8 billion by 2018.therefore, we found a tutor networking agency as a good business idea not only being it has growing demand but also it is problem worth solving for the society at large.
Problem worth Solving
This day\'s education is becoming the most area of focus noticed in the society by which it has seemed as double costing for quality guarantee. Of course, Students are provided with class lectures to help them better understand about the subject matter and to bitterly prepare for approaching exams. Principally, Students are expected to assess exam results to see if there is a need for improvement. Thus, Recently Experience has shown that many of the students are looking for tutors to overcome the limitations that they have about the subject matter and b/c they need to master it. Furthermore, families are also seeking for loyal and effective tutors who could certainly guide their Childs and even for themselves being believing that still they have room for improvement and the class lecture only is not adequate for gaining the ideal results as a student.
In fact, there are individuals who give tutoring sessions going through a door to door of the clients (house based tutors). However, we sensed that this is not yet enough to address the desire of the titanic and emerging market need and still this way of delivery by its nature is problematical in view of the fact that;
Families/clients who seek the service are diving with inflated prices, lacking link with effective tutors who could certainly guide their Childs and at large facing with fear of Vendor Trust and this can also terrify the tutor too.
Network Tutoring Agency will provide networking access between tutors who want to teach, and the clients who are looking for a tutor. Likewise, this agency is expected to offer easy access to tutoring services for different field of studies by making its services ready mail for its kings at their convenient time and places which reduce both side switching costs. Thus, Network Tutoring Agency will come up with a legal personality that can entirely erode the both sides fear of the clients and tutors trust being by its standing can be suing and be sued. Whereas, linking with loyal and effective tutors who could certainly guide their Childs is the agency\'s commitment and this give also to quality education emphasize being the tutors will be assigned based on their competence results & given adequate inductions by the manager of the agency and this has got benefit to the employment opportunity of massive tutors too. While it will also employ a Systematic Analysis, a problem-solving method that students can apply to a wide range of subjects and problems given to their respective learning behaviors. Finally, clients will be of worth full by paying a reasonable price which is stated at tutors fee plus the agency\'s top up/commission. Hence, the following shows the strategies that the tutorial is going to be delivered and the rates per hour.
Per Individual tutoring 120 Birr/hour
Per two group of people at a time 100 Birr each/hour
Per three group of people at a time 80 Birr each/hour
Per four group of people at a time 70 Birr each/hour
Per five group of people 60 Birr each/hour
The tutoring sessions will take place at the client\'s house by their nearest tutor given the pre-established time of delivery and in negotiation with their tutor. And those group based sessions will be conducted in either in one of their house or at nearest public schools.
Validation of Problem and Solution (Opportunity) by DIFA Model
Many students are sponsored by their family for studying privately that has significant economic and social costs/issues of studying in the individual housing base. A lot of these families have the interest/willingness and ability to pay since they give the impression of being set money aside for tutoring. This is, therefore, an evidence for the existence of full Demand (the actual or potential customer need, with the ability to pay. Besides, tutoring agencies grow big enough to expand into other areas, such as running teaching, training and consulting centers and often it has a great stand for striving business that a product, service or technology can be provided with an Innovative Future. While the tutoring agency charges the client for the tutor plus the commission on top and operating at a very low cost; therefore tutoring agency is found as Attractive being expected to bear a good benefit & interest for the founders. And also, found to be Feasible given the technology & resources exist as far as this may not need capital intensive operations. Consequently, network tutoring agency will work closely to develop a business relationship with the different stack holders.
Network tutoring agency will have a focus on High school and Preparatory students, preferably because as it is observed they need more guidance at this stage of their schooling. High school and Preparatory students make up a sizable majority of the markets in Addis Ababa. Network tutoring agency prefers to establish a relationship with secondary school students and continue to care for that relationship for a long term.
Market Segmentation & Target Market Segment Strategy
Graduate Students; these are students who are at the graduate school level enrolled in variety public and private universities and colleges around Addis Ababa and who seeks a tutor being they are full of activity that restrict them for setting in continuous class adjustments. However, it is believed that they are less likely in number seeking this service and remains as less focused segments comparably like those elementary school students.
Undergraduate Students; are students who are studying for BA Or BSc level courses and mostly need a tutor for the quantitative course such as accounting, finance, calculus, statistics and other natural science and Business & Economics courses. While this is expected to be the major market segment in the nearest future following to the existing dominant demand of the high school and preparatory level students.
Secondary school students; These will remain as the backbone of the agency\'s business, being those students who are grade 9 to 12 needs more help & make up a sizable majority of the market given the roughly market analysis result of the existing evidence. Hence, this will remain as a core segment for the time being, although other segments are showing a potential to provide immensity of future income.
Elementary school students; upon which those grade 6 to 8 students are acknowledged for their common need at looking potential and competent tutors who enable them to master or have basic studies.
This is, therefore, while the secondary school segment will remain a core focus of the agency, much time will be dedicated to promotion to this segment and as an agency, it will offer its services to all of its target markets including for those colleges diploma level students by enhancing its operating competence.
Competition and Business analysis
Service Business Analysis
Teaching has been around as long as schooling. And as long as students get schooling, they will need tutors to help them get closer to the subject matter. However, while the need for tutoring exists, the majority of tutoring delivered in the market is inefficient and not well thought-out as well as have not legal guarantees. Thus far what sets this our firm separately is it\'s worth-problem solving withstand and the attention paid to its clients.
Tutors are those individuals with a little extra time and specific expertise in a given subject needs for working a par time due. If truth be told, there are a number of expertises which have the resource to provide a comprehensive tutoring program covering every possible aspect needed by the clients; nonetheless, the previously stated threats are deep-rooted. Even though the majority of the competition comes from one-on-one tutoring conducted by family relations, there is no organized tutoring service and agency available to network clients with tutors that really covers their interest. And as the business looks to expand and introduce to existing market that has unorganized competitors, there may sonly appear few organized competitors.
At the moment, individual tutoring from a family steamed relation may be a cheaper way for clients, here in truth is an advantage to paying for tutoring delivered by the agency even the tutors who give individually will be benefited if work with the agency. The tutoring sessions include both individual and group by which group sessions will benefit the clients by sharing their costs and for tutors to be given additional pocket money as bonuses keeping all the threats are eliminated. With the time, network tutoring agency will develop a website to put its assessment and customer communication efforts at ease.
Differentiation (SWOT) Analysis
The SWOT analysis, or identified strengths and weaknesses, as well as the potential opportunities and threats, are typically conducted using a four-square SWOT analysis model as shown below.
Marketing Strategy and Implementation
There is no agency or well-organized tutoring center providing such a needed service to the target market. Therefore, we believe this will give us an edge that will help us to survive for some time in the making. The legal personality with avoidance of fear of trust gives the business a chance of getting acceptance and having loyal customers that no one else can compete in the market. Thus, Network Tutoring Agency will influence its competitive edge to control a mass market share. The advantages offer for clients will have significant value including individualized and group tutoring, a foundation of trusted and competent tutors, conveniently tie together with tutors, the Systematic Analysis provides students with a problem-solving approach that is applicable to a wide range of subjects and problems given to their respective learning behaviors. Furthermore, it can be addressed as follows:
Individual tutoring base takes into account the credit of instructing tutors to let them learn in various ways, some students learn visually, others orally or some may learn by doing and gives a due attention to the personal need of each client and his or her specific needs & strengths.
While the second option or the small group (2-5 students) based tutoring additionally will provide students with suitable learning styles and so students can learn from each other under the tutor\'s guidance with a maximum team of 5 students in the same level but not more because of that it becomes confusing and distracting.
Systematic Analysis is a system where each student is taught to be properly evaluated his/her behavioral changes which come as a result of learning and this will be also conducted via online survey distribution. In contrast with most other tutors who assist the student with specific problems or questions, this will be applied to all behavioral assessments with problem-solving techniques that provide students with tools to assist them in seeing their talent in the future.
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