Start-up Funding | |
Start-up Expenses to Fund | $6,680 |
Start-up Assets to Fund | $0 |
Total Funding Required | $6,680 |
Assets | |
Non-cash Assets from Start-up | $0 |
Cash Requirements from Start-up | $0 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $0 |
Total Assets | $0 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $0 |
Capital | |
Planned Investment | |
Investor 1 | $6,680 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
Total Planned Investment | $6,680 |
Loss at Start-up (Start-up Expenses) | ($6,680) |
Total Capital | $0 |
Total Capital and Liabilities | $0 |
Total Funding | $6,680 |
Teacherafterschooljobs.com provides a unique site to match the part-time and seasonal job needs of teachers with employers searching for professional, reliable, and educated employees, thereby reducing turnover and its associated costs.
Teacherafterschooljobs.com will focus on educational institutions to provide the pool of potential employees. Schools employing teachers, as well as educational institutions training teachers, will be prime marketing targets. Given the fact that educational institutions are faced with the challenge of maintaining a quality faculty within limited salary constraints, it is extremely advantageous for them to provide a quality opportunity for teachers to supplement their income.
Our focus group to provide the income for the company will be employers who seek part-time and seasonal employees. In our current economy, nearly all employers have the need for these positions. The costs of continually hiring these employees for each need is significant. Our company will provide a unique pool of educated, stable, and professional employees. Retail establishments, food service, summer camps, park districts, and day care centers are just a few of the employers who require employees with the professional background, demeanor and, most importantly, the work schedule of teachers. The joining of these two groups provides significant benefits and savings to both groups.
Our target market is broken down into the following categories:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Retail | 50% | 50 | 75 | 113 | 170 | 255 | 50.28% |
Government | 50% | 40 | 60 | 90 | 135 | 203 | 50.09% |
Private Camps and Day Care | 25% | 20 | 25 | 31 | 39 | 49 | 25.11% |
Education | 10% | 20 | 22 | 24 | 26 | 29 | 9.73% |
Total | 42.50% | 130 | 182 | 258 | 370 | 536 | 42.50% |
Focusing on these groups places the two pieces of the puzzle squarely in-line with one another. There are a number of job search sites out there. Many of these are too extensive for the needs of our focus group; our specific marketing targets fit the profile and purpose ultimately sought by our company and the employees and employers themselves. Our marketing will be focused on a concise brochure, detailing the advantages and strategy of our company and will be delivered (as much as possible) by personal contact and interview. This approach will stress both the professional and personal nature of the company.
The significant number of job search companies forces us to focus on the unique and specialized groups we are seeking to join. Fortunately, the purpose and focus of the company is exactly the service we seek to provide.
The most important factor for the employer will be the reduction in advertising costs by reducing the turnover, therefore increasing the reliability and professionalism of its workforce. By providing the pool of employees we intend to target, the cost of our services will be relatively inexpensive for employers.
Passing the cost to the employers allows us to provide a cost-free service to the pool of employees, thus increasing traffic on the site.
Teacherafterschooljobs.com will initially focus on the local market. The local market includes many national retailers leading to an easy transition to a national market. Targeting school districts also begins in the local market but lends itself to quick national expansion.
Our unique pool of employees gives us a significant advantage over the larger job search firms concentrating on different careers. Our links and appeal to teachers also gives us the ability to market related links for increased traffic. Concentrating on the professionalism, education, and dedication of teachers is essential in distinguishing our pool of employees from the general population, thus increasing the hiring appeal for our employers.
The following table lists the important milestones we have set and achieved, and the allocation of our budget for the same. Careful planning and follow-up are essential to our plan. Monthly follow-ups will be essential to the implementation and success of our business.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Domain Name | 2/13/2001 | 2/13/2001 | $70 | RC | Owner |
Web Hosting Research | 3/1/2001 | 3/10/2001 | $0 | RC | Owner |
Incorportation | 5/1/2001 | 5/1/2001 | $125 | RC | Owner |
Web Page Design | 3/1/2001 | 4/30/2001 | $1,400 | ZC | Webmaster |
ND Business Plan Competiton | 2/1/2001 | 3/19/2001 | $50 | RC,PC,ZC | Owner |
Other | 1/1/2003 | 1/15/2003 | $0 | ABC | Department |
Totals | $1,645 |
Our sales will depend on the repeat business derived from providing quality permanent, part-time, and seasonal employees. Our sales must be focused on annual contracts paid in advance. We will offer plans based on a monthly charge for job listings. A fee of $20/mo for up to 10 job listings, $35/mo for 11-20 listings, $50/mo for 21-50 listings, and $75/mo for unlimited listings. All of the sales should be attempted in person with the employer, and closed and paid on an annual basis. Follow-up of the success of the listings and contacts should be made quarterly.
The following chart and table show our forecasted sales. We would hope to obtain at least 60 employers at the $20/month level, 60 employers at the $35/month level, 36 employers at the $50/month level, and 36 employers at the $75/month level in the first year. We expect the number of employers to increase at the rate of 15-20% each year, with the growth of the higher-priced subscribers to increase by the end of year two with the national appeal of the local national employers. Costs should then be reduced by the end of year two with the purchase of our own server to allow captive hosting of our own website.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Unit Sales | |||
Up to 10 Job Listings | 60 | 90 | 120 |
10-20 Job Listings | 60 | 90 | 120 |
21-50 Job Listings | 36 | 54 | 71 |
51-unlimited Job Listings | 36 | 54 | 71 |
Total Unit Sales | 192 | 288 | 382 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Up to 10 Job Listings | $20.00 | $30.00 | $40.00 |
10-20 Job Listings | $35.00 | $45.00 | $55.00 |
21-50 Job Listings | $50.00 | $60.00 | $70.00 |
51-unlimited Job Listings | $75.00 | $85.00 | $95.00 |
Sales | |||
Up to 10 Job Listings | $1,200 | $2,700 | $4,800 |
10-20 Job Listings | $2,100 | $4,050 | $6,600 |
21-50 Job Listings | $1,800 | $3,240 | $4,970 |
51-unlimited Job Listings | $2,700 | $4,590 | $6,745 |
Total Sales | $7,800 | $14,580 | $23,115 |
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Up to 10 Job Listings | $6.00 | $9.00 | $12.00 |
10-20 Job Listings | $10.50 | $13.50 | $16.50 |
21-50 Job Listings | $20.00 | $18.00 | $28.00 |
51-unlimited Job Listings | $30.00 | $34.00 | $38.00 |
Direct Cost of Sales | |||
Up to 10 Job Listings | $360 | $810 | $1,440 |
10-20 Job Listings | $630 | $1,215 | $1,980 |
21-50 Job Listings | $720 | $972 | $1,988 |
51-unlimited Job Listings | $1,080 | $1,836 | $2,698 |
Subtotal Direct Cost of Sales | $2,790 | $4,833 | $8,106 |
The initial owners will be the operators and managers. We will receive extensive technical and webmaster assistance from our son Zachary, as well as support and input from our other family members. The company hired to perform Web hosting duties will also provide technical support. As the business expands, additional sales and marketing personnel will be added.
The attached table summarizes our personnel expenditures for the first three years. Since the company is a closely-held family corporation, the compensation is closely tied to the profitability of the company.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Payroll | $2,400 | $3,000 | $4,000 |
Other | $0 | $0 | $0 |
Total People | 1 | 1 | 1 |
Total Payroll | $2,400 | $3,000 | $4,000 |
We will finance growth through the cash flow produced in the business. This strategy may force slow growth, however, establishing a stable and extensive network will take time and is the key to the success of the company.
Our sales based on a yearly contract with payment in advance would be the key to our cash flow and growth. We realize that we may have to be flexible in accepting less than one year of payment, but feel if we can get a minimum of three-month commitments from each employer, we will meet cash flow needs.
The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. We recognize the collection of accounts receivable is critical, but one over which we have little control.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
The following chart and table summarize our break-even point. Since the cost per unit is a commission being paid to the sales persons who will initially be the owners, we are operating at the minimum, with the bulk of our costs being the compensation of the owners. We are using 25% of revenue, which is high based on the above information.
Break-even Analysis | |
Monthly Units Break-even | 8 |
Monthly Revenue Break-even | $311 |
Assumptions: | |
Average Per-Unit Revenue | $40.63 |
Average Per-Unit Variable Cost | $14.53 |
Estimated Monthly Fixed Cost | $200 |
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $7,800 | $14,580 | $23,115 |
Direct Cost of Sales | $2,790 | $4,833 | $8,106 |
Other | $0 | $0 | $0 |
Total Cost of Sales | $2,790 | $4,833 | $8,106 |
Gross Margin | $5,010 | $9,747 | $15,009 |
Gross Margin % | 64.23% | 66.85% | 64.93% |
Expenses | |||
Payroll | $2,400 | $3,000 | $4,000 |
Sales and Marketing and Other Expenses | $0 | $0 | $0 |
Depreciation | $0 | $0 | $0 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $0 | $0 | $0 |
Insurance | $0 | $0 | $0 |
Rent | $0 | $0 | $0 |
Payroll Taxes | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $2,400 | $3,000 | $4,000 |
Profit Before Interest and Taxes | $2,610 | $6,747 | $11,009 |
EBITDA | $2,610 | $6,747 | $11,009 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $663 | $1,687 | $2,798 |
Net Profit | $1,947 | $5,060 | $8,211 |
Net Profit/Sales | 24.96% | 34.71% | 35.52% |
Due to our fixed Web hosting costs and the owners being the only employees, our cash flow in the following table remains positive throughout the year. The improvement in the cash flow as the subsequent years progress will allow for the continual updating and maintenance of the site to keep it fresh and viable. The low fixed cost of adding pages (flat fee of approximately $130/page) should be covered by our positive cash flow, thus allowing continuing expansion as necessary.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $7,800 | $14,580 | $23,115 |
Subtotal Cash from Operations | $7,800 | $14,580 | $23,115 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $7,800 | $14,580 | $23,115 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $2,400 | $3,000 | $4,000 |
Bill Payments | $3,176 | $6,261 | $10,544 |
Subtotal Spent on Operations | $5,576 | $9,261 | $14,544 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $5,576 | $9,261 | $14,544 |
Net Cash Flow | $2,224 | $5,319 | $8,571 |
Cash Balance | $2,224 | $7,543 | $16,114 |
The balance sheet in the following table shows a small but continued growth of net worth in just three years, presenting a healthy financial picture. This growth in net worth will also be supplemented significantly with the possibility of Web page advertising and related links income that is not yet projected or contained in the figures.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $2,224 | $7,543 | $16,114 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $2,224 | $7,543 | $16,114 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $2,224 | $7,543 | $16,114 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $277 | $536 | $896 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $277 | $536 | $896 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $277 | $536 | $896 |
Paid-in Capital | $6,680 | $6,680 | $6,680 |
Retained Earnings | ($6,680) | ($4,733) | $327 |
Earnings | $1,947 | $5,060 | $8,211 |
Total Capital | $1,947 | $7,007 | $15,218 |
Total Liabilities and Capital | $2,224 | $7,543 | $16,114 |
Net Worth | $1,947 | $7,007 | $15,218 |
The following table contains important business ratios from the education services industry, as determined by the Standard Industry Classification (SIC) Index, 8299.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 86.92% | 58.54% | 9.00% |
Percent of Total Assets | ||||
Other Current Assets | 0.00% | 0.00% | 0.00% | 43.90% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 73.60% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 26.40% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 12.47% | 7.10% | 5.56% | 43.90% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 21.40% |
Total Liabilities | 12.47% | 7.10% | 5.56% | 65.30% |
Net Worth | 87.53% | 92.90% | 94.44% | 34.70% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 64.23% | 66.85% | 64.93% | 0.00% |
Selling, General & Administrative Expenses | 39.13% | 32.15% | 29.21% | 82.20% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 1.10% |
Profit Before Interest and Taxes | 33.46% | 46.28% | 47.63% | 2.40% |
Main Ratios | ||||
Current | 8.02 | 14.08 | 17.98 | 1.51 |
Quick | 8.02 | 14.08 | 17.98 | 1.20 |
Total Debt to Total Assets | 12.47% | 7.10% | 5.56% | 65.30% |
Pre-tax Return on Net Worth | 134.08% | 96.29% | 72.34% | 4.40% |
Pre-tax Return on Assets | 117.36% | 89.45% | 68.32% | 12.70% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 24.96% | 34.71% | 35.52% | n.a |
Return on Equity | 100.00% | 72.22% | 53.96% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 12.45 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 23 | 24 | n.a |
Total Asset Turnover | 3.51 | 1.93 | 1.43 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.14 | 0.08 | 0.06 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $1,947 | $7,007 | $15,218 | n.a |
Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.29 | 0.52 | 0.70 | n.a |
Current Debt/Total Assets | 12% | 7% | 6% | n.a |
Acid Test | 8.02 | 14.08 | 17.98 | n.a |
Sales/Net Worth | 4.01 | 2.08 | 1.52 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Unit Sales | |||||||||||||
Up to 10 Job Listings | 0% | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
10-20 Job Listings | 0% | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
21-50 Job Listings | 0% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
51-unlimited Job Listings | 0% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
Total Unit Sales | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | |
Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Up to 10 Job Listings | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | |
10-20 Job Listings | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | $35.00 | |
21-50 Job Listings | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | |
51-unlimited Job Listings | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | $75.00 | |
Sales | |||||||||||||
Up to 10 Job Listings | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
10-20 Job Listings | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | $175 | |
21-50 Job Listings | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | |
51-unlimited Job Listings | $225 | $225 | $225 | $225 | $225 | $225 | $225 | $225 | $225 | $225 | $225 | $225 | |
Total Sales | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Up to 10 Job Listings | 0.00% | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 | $6.00 |
10-20 Job Listings | 0.00% | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 | $10.50 |
21-50 Job Listings | 0.00% | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 | $20.00 |
51-unlimited Job Listings | 0.00% | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 | $30.00 |
Direct Cost of Sales | |||||||||||||
Up to 10 Job Listings | $30 | $30 | $30 | $30 | $30 | $30 | $30 | $30 | $30 | $30 | $30 | $30 | |
10-20 Job Listings | $53 | $53 | $53 | $53 | $53 | $53 | $53 | $53 | $53 | $53 | $53 | $53 | |
21-50 Job Listings | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | $60 | |
51-unlimited Job Listings | $90 | $90 | $90 | $90 | $90 | $90 | $90 | $90 | $90 | $90 | $90 | $90 | |
Subtotal Direct Cost of Sales | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Payroll | 0% | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
Total Payroll | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Direct Cost of Sales | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | $233 | |
Gross Margin | $418 | $418 | $418 | $418 | $418 | $418 | $418 | $418 | $418 | $418 | $418 | $418 | |
Gross Margin % | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | 64.23% | |
Expenses | |||||||||||||
Payroll | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Sales and Marketing and Other Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Leased Equipment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Utilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Insurance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Profit Before Interest and Taxes | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | |
EBITDA | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | $218 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Taxes Incurred | $65 | $54 | $54 | $54 | $54 | $54 | $54 | $54 | $54 | $54 | $54 | $54 | |
Net Profit | $152 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | |
Net Profit/Sales | 23.42% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% | 25.10% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Subtotal Cash from Operations | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | $650 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Bill Payments | $10 | $297 | $287 | $287 | $287 | $287 | $287 | $287 | $287 | $287 | $287 | $287 | |
Subtotal Spent on Operations | $210 | $497 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $210 | $497 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | $487 | |
Net Cash Flow | $440 | $153 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | $163 | |
Cash Balance | $440 | $593 | $756 | $919 | $1,082 | $1,245 | $1,408 | $1,571 | $1,735 | $1,898 | $2,061 | $2,224 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $0 | $440 | $593 | $756 | $919 | $1,082 | $1,245 | $1,408 | $1,571 | $1,735 | $1,898 | $2,061 | $2,224 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $0 | $440 | $593 | $756 | $919 | $1,082 | $1,245 | $1,408 | $1,571 | $1,735 | $1,898 | $2,061 | $2,224 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $0 | $440 | $593 | $756 | $919 | $1,082 | $1,245 | $1,408 | $1,571 | $1,735 | $1,898 | $2,061 | $2,224 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $288 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $288 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $288 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 | $277 |
Paid-in Capital | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 | $6,680 |
Retained Earnings | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) | ($6,680) |
Earnings | $0 | $152 | $315 | $479 | $642 | $805 | $968 | $1,131 | $1,294 | $1,457 | $1,620 | $1,784 | $1,947 |
Total Capital | $0 | $152 | $315 | $479 | $642 | $805 | $968 | $1,131 | $1,294 | $1,457 | $1,620 | $1,784 | $1,947 |
Total Liabilities and Capital | $0 | $440 | $593 | $756 | $919 | $1,082 | $1,245 | $1,408 | $1,571 | $1,735 | $1,898 | $2,061 | $2,224 |
Net Worth | $0 | $152 | $315 | $479 | $642 | $805 | $968 | $1,131 | $1,294 | $1,457 | $1,620 | $1,784 | $1,947 |
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The Russian defence ministry has claimed Ukraine used US-provided weapons in a strike on Crimea yesterday that killed at least four people and injured 151 more. Meanwhile, EU accession talks with Ukraine are approaching, in a political blow for Vladimir Putin.
Monday 24 June 2024 22:39, UK
That's all of our live coverage on the conflict for now.
We'll bring you any major developments overnight, and we'll be back with our regular updates in the morning.
The US is expected to announce it is sending an additional $150m (£118m) in munitions to Ukraine.
According to a US official, who spoke to the Associated Press on the condition of anonymity, the package includes anti-armour weapons, small arms, grenades and artillery rounds, among other support.
The upcoming shipment is also expected to include munitions for the High Mobility Artillery Rocket Systems, or HIMARS.
That system is capable of firing the longer-range missiles from the Army Tactical Missile System, or ATACMS, which Russia has said would prompt retaliation and risk escalating the conflict.
The package is expected to be announced tomorrow.
On day 850 of the Ukraine war, we take a closer look at how Ukrainian servicemen in the Donetsk region are taking the fight to Russian troops near by.
The images below show Mykhailo, Ihor and Oleh of the 33rd Separate Mechanised Brigade preparing and loading a self-propelled howitzer before firing towards Russian troops.
The first day of mourning has taken place in Russia's North Caucasus republic of Dagestan after attacks that the authorities say killed 20 people.
Gunmen opened fire on two Orthodox churches, a synagogue and a police post in the attacks in the cities of Makhachkala and Derbent yesterday.
Russia's national anti-terrorist committee described the attacks - in a predominantly Muslim region with a history of armed insurgency - as terrorist acts.
The attack is the deadliest in Russia since March, when gunmen opened fire at a concert in suburban Moscow, killing 145 people.
The affiliate of the Islamic State group in Afghanistan that claimed responsibility for March's raid quickly praised the attack in Dagestan, saying it was conducted by "brothers in the Caucasus who showed that they are still strong".
The Washington-based Institute for the Study of War argued that the Islamic State group's North Caucasus branch, Vilayat Kavkaz, was likely to have been behind the attack, describing it as "complex and co-ordinated".
Russian claims that the US was behind yesterday's strikes in Crimea are "ridiculous" and "hyperbolic", according to a spokesperson for the US state department.
Officials say four people died and around 150 more were injured in the attack as missile debris fell on a beach in Sevastopol in occupied Crimea.
Russia's defence ministry said the missiles used by Ukraine were US-supplied ATACMS missiles, and claimed US specialists programmed them.
Kremlin spokesperson Dmitry Peskov told reporters in Moscow earlier today that the "involvement of the United States, the direct involvement, as a result of which Russian civilians are killed, cannot be without consequences".
During a US state department briefing, spokesperson Matthew Miller was asked about Russia's claims, which he said were unfounded and wrong.
"I don't have any assessment of the underlying attack, including who was responsible for it. But you have seen Russia make ridiculous claims about responsibility in the past," he said.
"You might recall after the terror attack in Moscow in March, they blamed the US despite the US warning them about the attack.
"It's not unusual for Moscow to make ridiculous, hyperbolic claims about responsibility that aren't born out of facts."
Mr Miller had previously been asked about the strikes in Crimea, to which he said the US laments any civilian casualties in the ongoing war.
On providing weapons to Ukraine, Mr Miller added: "We provide weapons to Ukraine so that it can defend its sovereign territory against armed aggression, including in Crimea, which, of course, is part of Ukraine.
"Russia could stop this war today and end the suffering caused by the war Russia launched if it ended its occupation of sovereign Ukrainian territory and stopped launching attacks on civilians."
We reported earlier on a fire at a former Russian electronics research institute near Moscow that has killed at least eight people.
We've now got video of the scene - with people visible leaning out of windows as smoke engulfs the building.
It is not yet clear what caused the fire to start.
By Ian King , business presenter
The EU today launched its 14th package of sanctions against Russia - this time targeting Vladimir Putin's liquefied natural gas exports (LNG) for the first time.
The measure is the latest attempt by the bloc to deny Mr Putin's regime of money as his war on Ukraine drags into its 29th month.
No EU bans on Russian gas yet
The sanctions, which will kick in after a nine-month transition period, fall short of an outright ban on Russian LNG shipments.
This partly reflects the fact that EU members are themselves still allowed to buy LNG from Moscow - even though the bloc has set a target of phasing out Russian fossil fuels by 2027.
The EU followed the lead of the United States and the UK in banning Russian oil imports, with one or two limited exceptions, in 2022 after Russia attacked Ukraine.
What latest sanctions do
The key measure in the package, signed off late last week in the face of opposition from Germany and Hungary, is a ban on trans-shipments off EU ports of Russian LNG - essentially preventing the commodity from being sold to third countries via EU ports.
Part of the package also targets specific vessels - including an initial 27 oil tankers - that are used to get around the price cap slapped on Russian oil by the G7 countries.
Read the full story here ...
A video appearing to show a wounded Russian soldier being shot dead by another shows the "brutal culture" of Moscow's armed forces, according to a US-based thinktank.
Footage shared widely on social media over the weekend shows a Russian soldier injured by a drone strike, motioning to another soldier for help.
Instead, the other soldier kills him with a gunshot fired at point-blank range.
He does this instead of attempting to check the soldier's injury, attempting treatment, taking his identification tags or attempting a casualty evacuation, the Institute for the Study of War (ISW) says.
"The attempted or deliberate killing of a fellow soldier is unprofessional, and ISW has observed instances of Russian fragging (the deliberate killing of supervisors) and other anecdotes demonstrative of a callous disregard for the lives of Russia’s own soldiers throughout the war thus far, both within Russia and amongst Russian troops on the battlefield," it says in its latest assessment.
"Fragging is generally indicative of extremely poor discipline amongst troops, a disconnect between tactical level commanders and their subordinates, as well as a blatant disregard for human life."
Sky News has not verified the authenticity of the video.
A fire at a former Russian electronics research institute near Moscow has killed at least eight people, state news agency TASS reports.
Two people jumped to their death from the top floors of the eight-storey building - in the town of Fryazino - which was engulfed by flames.
Regional governor Andrey Vorobyov said a 34-year-old man was in serious condition in hospital, while two firefighters were also being treated for injuries from the fire.
More than 100 firefighters are at the scene. Local emergency services said the man was the only person rescued from the blaze.
The building creates components for fighter jets, nuclear launch munitions, air defences and guided munitions.
Gunmen opened fire on two Orthodox churches, a synagogue and a police post in two cities in the Russian region of Dagestan yesterday.
Dagestan's governor, Sergei Melikov, tried to link the attacks with the ongoing Russian invasion of Ukraine.
The US-based Institute for the Study of War has suggested it is likely the work of Islamic State's Northern Caucasus branch, Wilayat Kavkaz, but there is no confirmation of that.
Watch the video below to find out what we know so far...
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Home » Sample Business Plans » Education
Are you about starting an education consulting firm? If YES, here is a complete sample education consulting firm business plan template & feasibility report you can use for FREE . If you are an educationist or someone who has background in education matters, and you intend starting your business, then you should consider starting your own education consulting firm.
There are many would – be international students and students aspiring to go to colleges / universities who are trapped simply because they don’t know who to talk to when they have challenges with testing and educational related issues that is why it is important to set up your own education consulting firm.
Being an educational consultant means that you will help your clients handle all their educational concerns, help to gain admission to colleges or universities of their choice. You can also help your clients (international students) obtain work permits in their new country of residence / studies.
Starting an education consulting firm is not too expensive except for the money required to rent and furnish an office space. Running this type of business requires that you should be trained as an educationist and it is indeed a very lucrative business in the United States, Canada, Australia and The United Kingdom simply because of the inflow of international students from different parts of the world.
If you are truly convinced that starting an education consulting firm is the right business for you to do, then you need to write your own business plan. Below is a sample education consulting firm business plan template that will help you successfully write yours with little or no stress;
1. industry overview.
Establishments in the Testing & Educational Support industry that education consulting belongs to primarily provide non – instructional support services for the education industries. The major segments of this industry are educational testing services and educational consultants.
It is important to state that computer software designers that develop education support software are not part of the Testing & Educational Support industry; they are part of the IT Consulting industry
If you are a close observer of the Testing & Educational Support industry, you will agree that the controversial No Child Left Behind Act in the united states has been an important driver of revenue for the Testing and Educational Support industry over the past decade.
This is due to the fact that education consultants play a prominent role in administering the assessments that ensure schools meet federal guidelines. Hence, the industry will be heavily impacted in the next half a decade by potential education reforms and fluctuations in federal funding.
Nevertheless, college enrollment will continue to expand over the period, and international student growth will continue, driven by high demand from students from Nigeria, China and India. Even though tighter state budgets will limit unnecessary expenditure, underlying demand for support services will still be sustained.
The Testing & Educational Support Industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Germany, Italy, Holland, Switzerland, Australia and Canada et al.
Statistics has it that in the United States of America alone, there are about 7,639 registered and licensed education consulting firm scattered all across the United States responsible for employing about 115,967 and the industry rakes in a whooping sum of $15 billion annually.
The industry is projected to grow at 3.4 percent annual growth within 2011 and 2016. It is important to state that ETS and Pearson PLC has the largest available market share in the industry.
A recent research carried out by IBISWORLD reveals that the Testing and Educational Support industry has expanded over the five years to 2016. The report stated that during this time, revenue grew at an average annual rate of 0.9 percent to $13.7 billion in 2016.
The report pointed that the Testing and Educational Support industry is composed of three main segments: educational testing providers, educational consultants and student-exchange program providers. While overall growth has been strong, these segments have experienced different levels of growth over the past five years, with educational testing services accounting for the largest share of revenue growth.
The research further revealed that the No Child Left Behind (NCLB) Act of 2001 has driven industry demand during much of the past decade. Under NCLB, which was signed into law in January 2002, states had to implement major educational changes to remain eligible for federal funding.
Lastly, one thing is certain about starting an education consulting firm, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals and even educational institutions / schools that would want to hire your services from time to time.
Webster & Golden® Education Consulting, LLP is a registered and licensed education consulting firm that will be based in New York City – New York.
The firm will handle all aspect of education related services; services such as providing college selection services, providing educational consulting services, providing educational guidance counseling services, providing educational support services, providing educational testing services, attending school buses and facilitating student exchange programs.
We are aware that to run a standard education consulting firm can be demanding which is why we are well trained, certified and equipped to perform excellently well. Webster & Golden® Education Consulting, LLP is a client – focused and result driven education consulting firm that provides broad- based services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a standard and professional education consulting services to all to our individual clients, and corporate clients at national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
At Webster & Golden® Education Consulting, LLP, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the testing and educational support industry
Webster & Golden® Education Consulting, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the testing and educational support industry in the whole of New York City – New York, and also to be amongst the top 20 educational consulting firms in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that New York City – New York is the right place to launch our education consulting firm before sourcing for clients from other cities in The United States of America and throughout the globe.
Webster & Golden® Education Consulting, LLP is founded by Webster Magnus and Golden Jade, his business partner for many years. The organization will be managed by both of them since they have adequate working experience to manage such business.
Webster Magnus has well over 5 years of experience working at various capacities within the testing and educational support industry in the United States of America. Webster Magnus and Golden Jade have the required experience and qualifications to build a world class education consulting firm that can favorably compete amongst leaders in the industry.
Webster & Golden® Education Consulting, LLP is going to offer varieties of services within the scope of the testing and educational support industry in the United States of America. Our intention of starting our education consulting firm is to favorably compete with leading players in the testing and educational support industry both in the United States of America and in the world at large.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offerings are listed below;
Our Business Structure
Normally we would have settled for two or three full – time staff members, but as part of our plan to build a standard education consulting firm in New York City – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our organization.
The picture of the kind of education consulting firm we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around New York City – New York.
We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
Education Consultants
Admin and HR Manager
Marketing and Sales Executive
Chief Executive Office:
Client Service Executive / Front Desk Officer
Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business.
Webster & Golden® Education Consulting, LLP hired the services of a seasoned business consultant with bias in start – ups in the United States to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the testing and educational support industry.
As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Webster & Golden® Education Consulting, LLP.
Our core strength lies in the power of our team; our workforce. We have a team of highly qualified education consultants and support staff members that can go all the way to give our clients value for their money; a team that are trained, qualified and equipped to pay attention to details and to deliver excellent education consulting services.
We are well positioned and we know we will attract loads of clients (students and international students alike) from the first day we open our doors for business.
As a new education consulting firm, it might take some time for our organization to break into the market and gain acceptance especially from international students in the already saturated testing and educational support industry; that is perhaps our major weakness. So also, we may not have the required cash to give our business the kind of publicity we would have loved to.
The opportunities in the testing and educational support industry is massive considering the number of local and international students who can’t do with key services provided by only the testing and educational support industry. As a standard and well – positioned education consulting firm, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we are likely going to face as an education consulting firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
If you a closer observer of the trends in the Testing & Educational Support industry, you will agree that the controversial No Child Left Behind Act in the united states has been an important driver of revenue for the Testing and Educational Support industry over the past decade.
Although it is cheaper to start an education consulting business, but the fact remains that it is a bit challenging for new entrant to come into this industry, the primary barrier to the entry for new establishment is the stiff registration requirements applicable in most countries not just the United States of America.
As a matter of fact, education consulting firms must comply with local licensing criteria set out by registration boards and professional associations to obtain registration in their country or the state they want to operate from. This usually requires applicants to hold an accredited tertiary qualification before they can undertake written tests of skills, knowledge and abilities.
Lastly, the geographic distribution of education consulting firms and revenue in the industry is based on population levels and business locations. Education consulting firms tend to be located in areas with high populations students, and such areas tend to have higher level of students who would want to sit for college exams, apply for international studies or for student exchange programs.
The demographic and psychographics composition of those who need the services of education consulting services providers cut across students and schools at all levels.
Webster & Golden® Education Consulting, LLP will initially serve students within our immediate community, but that does not in any way stop us from growing to be able to compete with the leading education consulting firms in the United States.
As a standard and licensed education consulting firm, Webster & Golden® Education Consulting, LLP offers a wide range of education consulting services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across businesses of different sizes in both the individual and corporate clients.
We are coming into the industry with a business concept that will enable us work with individuals, small businesses and bigger corporations in and around New York City – New York and other cities in the United States of America. Below is a list of the people and organizations that we have specifically design our products and services for;
Our competitive advantage
The level of competitions in the testing and educational support services industry depends largely on the location of the business and of course the business model. If you can successfully create a unique brand identity for your education consulting firm or carve out a unique market, you are likely going to experience less competition.
For instance, if you are one of the few education consulting firms in your locations that has the most qualified and experienced education consultant with successful track record under your payroll, you are likely going to have a competitive advantage over your competitors.
We are quite aware that to be highly competitive in the testing and educational support services industry means that we should be able to deliver expected results, our clients should be able to pay for our services and we should be able to meet the expectations of clients.
Webster & Golden® Education Consulting, LLP might be a new entrant into the testing and educational support services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified education consultants and experts in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (start – ups education consulting firms) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
Webster & Golden® Education Consulting, LLP is established with the aim of maximizing profits in the testing and educational support services industry and we are going to go all the way to ensure that we do all it takes to attract clients (local and international students) on a regular basis.
Webster & Golden® Education Consulting, LLP will generate income by offering the following immigration consulting services;
One thing is certain, there would always be local students, international students, individuals, schools and tutorial colleges et al who would need the services of testing and educational support services providers.
We are well positioned to take on the available market in New York City – New York and other key cities in the United States of America and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City to other cities in New York and other states in the U.S.
We have been able to critically examine the education consulting services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in New York City – New York.
Below are the sales projections for Webster & Golden® Education Consulting, LLP, it is based on the location of our business and the wide range of education consulting and advisory services that we will be offering to our clients;
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
We are mindful of the fact that there are stiffer competitions amongst education consulting firms and other related educational support service providers in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard and world – class education consulting firm that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our education consulting firm to become one of the top 20 education consulting firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the New York City – New York, but also in other cities in the United States of America.
Webster & Golden® Education Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our education consultancy services firm business. Below are the platforms we will leverage on to boost our brand and to promote and advertise our business;
Hourly billing for education consulting services is a long – time tradition in the industry. However, for some types of education consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs.
As a result of this, Webster & Golden® Education Consulting, LLP will charge our clients a flat fee for many basic services such as providing college selection services, providing educational consulting services, providing educational guidance counseling services, providing educational support services, providing educational testing services, attending school buses and facilitating student exchange programs et al.
At Webster & Golden® Education Consulting, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to both local and international students from time to time.
We are aware that there are some clients that would need regular access to education consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
The payment policy adopted by Webster & Golden® Education Consulting, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Webster & Golden® Education Consulting, LLP will make available to her clients;
In view of the above, we have chosen banking platforms that will enable our client make payment for our testing and educational support services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for all education consultancy and advisory services rendered.
When it comes to calculating the cost of starting an education consulting firm, there are some key factors that should serve as a guide. Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake.
If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting an education consulting firm; it might differ in other countries due to the value of their money. Below are some of the basic areas we will spend our start – up capital in setting up our education consulting firm;
Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand ( 150,000 ) U.S. dollars to successfully set – up a small scale but standard education consulting firm in the United States of America. Please note that the salaries of all our staff members for the first month is included in the expenditure.
Generating Funds / Startup Capital for Webster & Golden® Education Consulting, LLP
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
Webster & Golden® Education Consulting, LLP is a business that will be owned and managed by Webster Magnus and Golden Jade, his business partner for many years. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Webster & Golden® Education Consulting, LLP is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our education consultancy and advisory services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Webster & Golden® Education Consulting, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
Mutual funds.
The ministry of education transferred the probe into irregularities in the medical entrance exam to the cbi, saying certain cases of alleged irregularities, cheating, impersonation, and malpractices had been reported. the cbi registered an fir on sunday.
Mohandas Pai, former Chief Financial Officer at Infosys, has appealed to the Centre to announce an action plan to safeguard the interests of 24 lakh students who took the NEET-UG examination. He also urged the Education Ministry to issue a daily bulletin of actions taken and future actions. "Students are very stressed," he said in a tweet.
Pl announce an action plan to safeguard interests of 24 lakh students now, issue a daily bulletin of action taken, future action Students are very stressed @dpradhanbjp https://t.co/CarVq7FqsZ — Mohandas Pai (@TVMohandasPai) June 23, 2024
The NEET examination was held on May 5 across 4,750 centres. Some students alleged irregularities after as many as 67 students scored a perfect 720, which had never happened in the NTA's history. The reports of paper leak also surfaced first in Bihar, and then Gujarat's Godhra.
Bihar's Economic Offences Unit arrested 13 people, including prime suspect Sikandar Yadavendu, in connection with the alleged paper leak. The EOU is also exploring the "possibility of conducting narco analysis and brain mapping tests" of the accused.
The Ministry of Education transferred the probe into irregularities in the medical entrance exam to the Central Bureau of Investigation (CBI), saying certain cases of alleged irregularities, cheating, impersonation, and malpractices had been reported. The CBI registered an FIR on Sunday.
"The central government has also enacted the Public Examination (Prevention of Unfair Means) Act, 2024, to prevent unfair means in the public examinations and to provide for matter connected therewith or incidental thereto," the ministry said.
The ministry also formed a high-level committee of experts to improve the functioning of the National Testing Agency (NTA). The committee will be headed by former ISRO chief K Radhakrishnan.
The ministry also postponed the NEET-PG entrance, the fourth entrance exam to be impacted in recent days. "We stand for transparent, tamper-free, and zero error examination. A panel has been formed on exam reforms, strict action has been taken against officials and the case has been handed over to CBI," Union Education Minister Dharmendra Pradhan said.
"Students' interest will be safeguarded at any cost," he said amid protests in different parts of the country on the issue of alleged irregularities in entrance exams.
The Health Ministry announced the postponement of NEET-PG entrance, a night before the entrance exam, as a "precautionary measure" in the wake of recent allegations on the integrity of certain competitive exams.
The Centre has also operationalised a stringent law that aims to curb malpractices and irregularities in competitive examinations with provisions entailing a maximum jail term of 10 years and a fine of up to Rs 1 crore for offenders.
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