Startup small business
Executive Summary
Datax Tutoring Service is a company that provides tutoring services for a broad spectrum of clients with an extensive range of services. The company will be based on sole proprietorship with future adjustment to the business plan within the organizational form in a period of two or one years.
Datax Tutoring Services is led by Matt Thomas who comes with wealthy academic experience in addition to his proven tutoring record. Matt's initial experience with tutoring began during his tenure at a large and well established language school from which he gained the experience that provided him with the insight which he continues to enjoy today with excellence. During his studies at university Matt was involved in informal tutoring of students although it was in his second year of business school that he was hired as a full time tutor of first year undergraduate students. This availed Matt with tremendous insight into specified courses where he cooperated with professors in the preparation of student course work and exams. With the company's focus on providing a broad range of tutored services in addition to the expertise, university and college connections as well as a low over head will ensure that Datax Tutoring Services will gain good revenue and profits in its annual plan as stipulated.
The Market
Several target markets have been identified with varied categories that will be the basis for pursuit with the largest category being business students. This is because Datax Tutoring Services plans to utilize the pre-existing relations its posses with several professors in business programs in major colleges and universities. This will allow the company to customize to specified course material in addition to receiving referrals from the mentioned professors. In addition within the market category there will be sub division of quantitative clients, non-quantitative clients and international clients. Datax Tutoring Services will also provide services to undergraduate students in the several universities and colleges that surround the area of location.
The Services
Datax Tutoring Services will provide a broad range of academic subjects with the sessions set as private or comprising of students in group formations for tutoring. Private Sessions offer immense assistance on an individual level in addition to being beneficial with a reduction in economic costs as well as the utilization of a team-based approach as encouraged by the business program. For courses based on the Atiknson course framework Datax Tutoring Services will provide extensive past examinations with a collection of invaluable material for teaching as test preparation materials. All students will be required to apply the Systematic Analysis Framework (SAF) which provides a unique format based on an approach of solving problems in all topics taught in the curriculum. This system aims at providing the student with a way in which problems can be solved based on their personal queries. Furthermore, the program is different from most tutoring service provides who do not regard the issue of providing students with primary skills in problem solving which can be utilized in the future.
A review of the courses and specified topics will reveal that the tutored courses will comprise of the subjects of accountancy, finance, economics, statistics and algebra. Resources will comprise of collective exam questions that will have been obtained prior to the sitting with specific courses being provided for the graduate management schools with broad experience. This will cover tested patterns will students being provided strategies of study to assist them in improving their personal study focus in preparation of future tests. Datax Tutoring Services will encourage its students to undertake reviews of their exam results so as to ascertain of there is any need for room for improvement.
This has been identified with experience showing that several professors in local programs utilize exams more especially in as tools for teaching more than as tools for evaluation. As such examination reviews will provide assistance in concept grasping that is crucial for future examination as well as process gauging the course of study. Private tutor lessons are availed in addition to small study sessions among groups with students being motivated to be prepared with questions and items for discussion while also being encouraged to question their tutors in the duration of a study week in the middle of study sessions.
As such the rating will be structured in the following format;
Individual tutoring at $20 per hour
Two students at $15 each/ per hour
Three students at $12 each/ per hour
Four students at $10 each/ per hour
Five students at $9 each/ per hour
Six students at $6 each/per hour
Questions in this case will be submitted through email and answered through the same medium. Furthermore, the tutoring services of Data Tutoring Services will employ the Systematic Analysis Framework as a methodical approach to problem solving whereby students can utilize a broad range of subjects and issues within the framework. The Systematic Analysis Framework empowers students and client alike with a systemized approach to managing future concerns with this unique methodical approach not addressing the present questions possessed by the students but rather providing them with a challenges to solve for all difficulties that are conceivable. In addition the Systematic Analysis Framework has a minimal effect in reducing the anxiety that may arise in students when new subjects are presented as they are now provided with a new approach that is of assistance.
Several international clients will be under sponsorship of certain organizations that will provide assistance to the students in economic and social expenses and related issues associated with studying in a foreign country. Several of these organizations have set aside funds for tutoring and as such Datax Tutoring Services will work in close partnership with these organizations to formulate a business relationship.
Branding and corporate image
Datax Tutoring Services understands the importance of branding in any development of a business as such the company aims to provide a well defined image that clients can associate with. This has been identified as in any progression of the business it is important to regard the perception of the clients concerning corporate branding especially the aspect of logo and overall image brand. Datax Tutoring Services will ensure that is brand is a compliment to its targeted market so as to meet the expectations of the client as if the brand is not given special attention the company's image and revenue earnings will be affected. The company will focus of value changes regarding its services on the basis of the way in which they are promoted from the format of coloring and logo design.
Mission
The company's mission is to provide assistance to students while taking an approach based on uniqueness and innovation in providing instruction to students so as to provide a connection with the subject matter. With personalization and focused teaching procedures. Datax Tutoring Services strives to for the development of students with the use of tools that are required for their continued success in various study fields. The success of the company will depend on the attention availed to the client needs that will truly provide assistance in attaining their personal success as their success has positive reflection on our success.
Operational Guidelines
In order to attain success the company will operate with the following operational guidelines which include;
- Developing of methodologies and subject approach to subjects what will assist students in re-focusing their minds in concepts that might seem to be difficult.
- Formulating of promotional services such as word of mouth which entail of clients selling services to other potential clients.
- Paying close attention to needs of the client through interactive feedback to as to asses and establish the concepts in a break down approach.
Objectives
Furthermore, the company will operate on the basis of the goals mentioned below
- Generation of informal contract or referrals with several affiliated university and college business faculties and their associated professors.
- Steadily increasing the revenue from the initial year to later years.
- Achieving full hourly operational capacity by the first quarter to the second year.
Market Segmentation
The company will base its operations on tutoring of students from the neighboring graduate business colleges and universities with their quantitative subjects. This will remain as the main segment although other segments have been formulated and present the potential in provision of the bulk of income in future. As such we can categorize the students in the following groups:
Quantitative Students
These are from the level of graduate school and are enrolled in quantitative courses which comprise of accountancy, finance, business math and statistics. They remain as a backbone of the business operations of the company although other areas will rapidly grow.
Non-Quantitative Students
These are students who request for tutoring for other subjects and not quantitative subjects such marketing, international management and organizational economic and behavior among others. The courses entailed in this study program have been traditionally in demand in comparison with reviews of quantitative studies. As such the company will develop tutoring methods of quantitative courses and apply the same concepts to these segments of students to see if it is applicable.
International Students
Source: Graphing of Market Analysis
Targeted Market Segment
Financial Plan and Projections
Human Resource Plan
The realistic opportunity cost for Datax Tutoring Services as there are barely any associated costs associated with its operations. Expenses comprise of gas and transportation to meet student’s needs. In addition the company incurs the services of an Internet service provider as well annual purchase of two new computers. There is a limitation of fixed costs are similarly limited.
Market Competitive Factors
There are other service providers that offer the specialized and targeted services to clients in this market. This provides the company with an opportunity to assist it for survival in the long term. Coupled with the experience and knowledge about certain professors and the study units they teach which provides the company with the capability of providing special services with no competition on same level. In addition the service is varied in several ways. For instance the company provides individualized service on the basis of personalization of evaluation for specific clients with focus on their specific needs. The alternative of one-on-one tutoring as well as review sessions provided to small groups enables students to from each other and limits distractions. The special handouts are prepared with several years of experience in tutoring. Datax Tutoring Services provides adequate explanation of difficult concepts and with sessions focusing on improvement of individual student needs. Furthermore, the Systematic Analysis Framework (SAF) is applied in all sessions as such all students are properly instructed in the proper approach.
References
Amit, R. Zott,C. (2001). Value creation in business. Strategic Management Journal.7,493-520.
Cassar,G. (2009). Preparation of financial statements and projections in startup ventures. The Accounting Review, 1, 27-51
Rosenbaum, M. Carolyn, A. (2007). Exploration of inter-customer social support in volunteered performance. Journal of Service Research.3, 257-270.
Dewaelheyns, N., and Van Hulle, C, (2010). The dynamics of capital structure and private business groups. East Asia. 1, 20-36.
