Tutoring Service Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Tutoring Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Tutoring Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Tutoring services have become very important in American academic life given the fact that they are able to provide not only assistance to students that are struggling with a specific subject but also enrichment as it relates to students that need to excel within a specific academic discipline. Many academic tutoring services focus substantially on standardized testing services given the fact that admission to college is very difficult these days especially among esteemed and Ivy League universities. As such, many parents take the view that their students or child’s academic needs are a complete necessity. This allows tutoring services to remain profitable and cash flow positive at all times even during times of economic recession. This trend is not expected to change given the fact that most people want to send their children to college, and they want to go to the best possible university. The startup costs associated with the nutrient tutoring service can be as low as $5,000 was much as $75,000 depending on the number of tutors at the business will have at the onset of operations. Most individuals that get into this business typically do so in a freelance capacity before turning the business into a organization that employs a number of academic tutors. The gross margins generated from sales or is also extremely high given the fact that this is a service based business. In fact, for each service rendered the gross margins can range anywhere from 96% to 100% depending on whether or not the tutoring service accepts credit cards. As it relates to ancillary revenue streams, some tutoring services to provide coursework materials that are sold to parents for use in their children’s education.
Given the very low operating expenses and low start up costs, most financial institutions will provide a working capital one credit in order to assist the tutoring service with their expansion. Of course, the tutoring service business plan is going to be required. This business plan should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to the industry research portion of the business plan, tutoring services generally in excess of $2 billion per year and provide jobs to about 30,000 people. However, these figures do not factor in the number of freelancers that operate independently and not to the guise of a corporation. Within the business plan, a full competitive analysis should be included as well as it relates only to major tutoring services that provide services in an online capacity but also directly within the local and regional market. An examination of annual household income, number of children per household, number of children that need academic tutelage, population size, and population density statistics shall be included within the business plan as well.
A tutoring service SWOT analysis is typically done as well. For strengths, tutoring services are always in demand in any economic climate. The startup costs are low, and the barriers to entry are considered to be extremely low.
For weaknesses, this is a highly competitive industry and anyone can operate as an academic tutor without any licensing requirement for standard educational background. As such, it is up to the entrepreneur that developed this business to find ways that allow them to aggressively expand their operations while differentiating their tutoring services from other freelancers and businesses within the area.
For opportunities, tutoring services can simply hire additional academic tutors especially those that have extensive experience with standardized testing preparation. This is typically the only way in which these businesses operate in regards to expansion. Online coursework can also be developed in order to showcase us to an increase the visibility of the platform.
For threats, there’s really nothing that is going to impact the way that a tutoring service operates moving forward. Although many tutoring services have moved online, many parents still feel that having an in-home tutor drastically help their children much more than the usage of an online platform.
A tutoring service marketing plan also needs to be developed so that individuals can quickly find the business when their child needs academic tutoring. Foremost, an expansive online presence should be developed so that people can quickly find the company when a search is done for a tutoring service within their specific market. This website should feature information about the owner, staff tutors, hours of operation, costs, and other information pertaining to rendering the services. Many tutoring services will also develop relationships with area elementary, middle school, and high school teachers as well as guidance counselors. Over time, these referrals can be extremely valuable for tutoring service given the fact that the teacher provides referrals in the parable most likely use that service as it relates to their child’s education. This is typically one of the marketing strategies it takes a little more time to develop. One of the other ways that these companies market their services to the general public as to the sponsorship of local event such as Little League games, scouting, and related organizations that focus specifically on the needs of children and young people.
A presence on social media is also significantly important for tutoring service given the fact that many people call on their local communities in order to source specific services. A presence on social media will allow the tutoring service to immediately receive referrals from parents as well as other organizations within the local and regional market. The costs associated with developing a presence on FaceBook, Twitter, LinkedIn, and Google+ are absolutely minimal. As such, usage of these social media platforms can drastically boost the visibility of the tutoring service while ensuring that reviews can be made among happy parents.
Tutoring services are always going to be in demand among parents and students given the fact that some people struggle with certain academic disciplines. This can be a highly lucrative business from many teachers are looking to operate in an entrepreneurial capacity rather than working at a school. Additionally, the constantly increasing competitive nature of top universities requires that many students have tutelage as it relates to standardized testing. This can be one of the highly profitable veins of revenue for these types of companies. These services will remain in demand at all times, and there’s nothing about this industry that is going to drastically change – with the exception of some technological developments – over the next 20 years.