Email-Id: sdj22fyf@bangor.ac.

uk
Student-id: 500676384

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Table of Contents

A subscription-based online tutoring platform for K-12 students..........................................................3

Business Concept:.................................................................................................................................3
Business description..............................................................................................................................4
 Business concept clarification....................................................................................................4
Business Concept Clarification:.............................................................................................................4
 Values........................................................................................................................................4
 Unique selling proposition.........................................................................................................5
 Business Model..........................................................................................................................5
Business model for a subscription-based online tutoring platform for K-12 students:.......................5
Customer Segments:..........................................................................................................................5
Value Proposition:.............................................................................................................................5
Channels:...........................................................................................................................................5
Revenue Streams:..............................................................................................................................5
Key Activities:...................................................................................................................................6
Key Resources:..................................................................................................................................6
Key Partners:.....................................................................................................................................6
Cost Structure:...................................................................................................................................6
Industry Analysis...................................................................................................................................7
 Discussion about throughout industry in which new idea will operate......................................7
Growing demand for online tutoring:....................................................................................................7
Potential market size:............................................................................................................................7
Competition:..........................................................................................................................................7
 Trends, growth, patterns and opportunities................................................................................7
Growing demand for online learning:....................................................................................................8
Increasing investment in edtech:............................................................................................................8
Global market opportunity:....................................................................................................................8
 Identification of factors that will influence the industry............................................................8
Technological advancements:................................................................................................................8
Educational trends:................................................................................................................................8
Demographics........................................................................................................................................8
Market industry.....................................................................................................................................9
 Pricing strategy..........................................................................................................................9

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Target market:.......................................................................................................................................9
Competitor pricing:...............................................................................................................................9
Services offered:....................................................................................................................................9
 Throughout analysis of market size...........................................................................................9
Growth drivers:......................................................................................................................................9
Regional analysis:................................................................................................................................10
Competitive landscape:........................................................................................................................10
Target market:.....................................................................................................................................10
Market position:..................................................................................................................................10
Market share:.......................................................................................................................................11
Competitor analysis.............................................................................................................................11
 Evaluation of weaknesses and strengths of competitors...........................................................11
Here are some general strengths and weaknesses of competitors in this industry:...............................11
Strengths:.............................................................................................................................................11
Quality of services:..............................................................................................................................12
Variety of services:..............................................................................................................................12
Experienced tutors:..............................................................................................................................12
Limited reach:......................................................................................................................................12
Pricing:................................................................................................................................................12
 Positioning in relation to competitors......................................................................................12
Lack of personalization:......................................................................................................................12
Limited flexibility:...............................................................................................................................12
Financial information..........................................................................................................................13
 Outline of startup costs............................................................................................................13
Website development:.........................................................................................................................13
Software development:........................................................................................................................13
Content development:..........................................................................................................................13
 Resource requirements.............................................................................................................13
Marketing and advertising:..................................................................................................................13
Technology infrastructure:...................................................................................................................13
Administrative costs:...........................................................................................................................14
References...........................................................................................................................................14

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 Convert the Business idea into Business concept

According to scenario the objective of assignment is to think about new and unique business
idea and development of that particular idea into business concept statement. The objective
here is to do feasibility analysis where idea would be more tangible. Primary and secondary
research will be conducted to do this research

Business Idea:

A subscription-based online tutoring platform for K-12 students

Business Concept:

My supposed business idea that I will convert into real time concept is called "Academic
Advantage," is an online tutoring platform that provides K-12 students with personalized and
affordable academic support. Our platform will offer opportunities staffed by experienced
and qualified tutors. Students will be able to access our platform on a monthly subscription
basis and will be able to book individual tutoring sessions at times that are convenient for
them (Johnson et al., 2022).

Marketing for our platform will primarily be done through social media, targeted ads, and
collaborations with schools and educators. We will offer a free trial period to encourage
students and parents to try our services and see the benefits for themselves. Overall,
Academic Advantage aims to make academic support accessible and affordable for all K-12
students, regardless of their geographic location or economic background (Powell and
Patrick, 2006)

MonthlySubscription Annual Subscription

Kindergarten $29.99/month $239.99/year

1st Grade $34.99/month $279.99/year

2nd Grade $39.99/month $319.99/year

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Third scale $44.00.99/month $359.99.0/year

Fourth scale $49.99.0/months $399.99.0/year’s

Fifth scale $54.99.0/months $439.99.0/year’s

Sixth scale $59.99.0/months $479.99.0/year’s

Seventh scale $64.99.000/months $519.99.000/years

Eighth scale $69.99.000/months $559.99.000/years

Ninth scale $79.99.0/month $639.99.00/year

Business description
__________________________________________________________________________________

 Business concept clarification

Certainly, here's a clarification of the business concept for the online tutoring platform
I described earlier:

Business Concept Clarification:

EDU-connect is an online tutoring platform that aims to provide K-12 students with
affordable and personalized academic support. Our platform offers provides one-on-one
tutoring sessions that can be booked on a monthly subscription basis at times that are
convenient for students (Mohnsen, 2012)

 Values

Our platform uses advanced matching technology to match students with a tutor who has the
expertise and teaching style that best suits the student's learning needs. Each tutoring session
is conducted in a one-on-one format, allowing our tutors to tailor their instruction to the
student's strengths and weaknesses. In addition to one-on-one sessions, EDU-connect provide
students with access to supplementary resources such as practice problems, study guides, and
progress reports to help them monitor their progress and stay motivated. (Arantes, 2021)

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  Unique selling proposition

Our marketing strategy involves leveraging social media, targeted advertising, and
partnerships with schools and educators.We believe that every student deserves the
opportunity to achieve their full academic potential, and we aim to provide the resources and
support they need to succeed (Huett, 2018)

 Business Model

Business model for a subscription-based online tutoring platform for K-12

students:

Customer Segments:

 K-12 students (primary target)

 Parents of K-12 students (secondary target)

Value Proposition:

 Convenient and accessible online tutoring services

 Customized and personalized learning experience
 Experienced and qualified tutors
 Flexible scheduling and availability
 Comprehensive curriculum coverage and resources
 Affordable pricing

Channels:

 Referral program
 Partnering with schools and educational institutions

Revenue Streams:

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  Monthly or annual subscription fees
 Additional fees for premium services or features
 Commission from tutor earnings (if applicable)

Key Activities:

 Developing and managing the online platform and resources

 Recruiting and training tutors
 Providing customer support and service
 Marketing and advertising
 Monitoring and analyzing customer data and feedback

Key Resources:

 Online platform and technology

 Tutors and educators
 Curriculum and learning resources
 Customer data and feedback
 Financial resources for operations and expansion

Key Partners:

 Schools and educational institutions

 Tutoring agencies or organizations
 Marketing and advertising agencies
 Payment processors and financial institutions

Cost Structure:

 Technology and infrastructure costs (e.g., website hosting, software licenses)

 Tutor recruitment and training costs
 Marketing and advertising expenses

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  Customer support and service costs
 Operational expenses (e.g., rent, utilities, insurance)

This business model is just one example and may vary depending on specific market and
customer needs. It's important to conduct thorough research and analysis to develop a
sustainable and profitable business model

Industry Analysis
__________________________________________________________________________________

 Discussion about throughout industry in which new idea will operate

A subscription-based online tutoring platform for K-12 students is a great idea that has
the potential to operate in the education industry. Here are some points to consider:

Growing demand for online tutoring:The pandemic has accelerated the adoption of
online learning, including tutoring. This has created a growing demand for online tutoring
services, and a subscription-based model can provide students with access to tutoring services
that are flexible and convenient.

Potential market size:The K-12 education market is enormous, with millions of students
in need of tutoring services. A subscription-based online tutoring platform can tap into this
market by offering affordable and convenient access to tutors(Arantes, 2021)

Competition:The education industry is highly competitive, with many established players

offering tutoring services. However, a subscription-based model can differentiate itself by
offering personalized learning plans, one-on-one tutoring sessions, and a flexible pricing
model.

 Trends, growth, patterns and opportunities

A subscription-based online tutoring platform for K-12 students has the potential for
significant growth and opportunity in the education industry.

Here are some trends, growth patterns, and opportunities to consider:

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Growing demand for online learning: The pandemic has accelerated the adoption of
demand for online tutoring services has grown significantly, and this trend is expected to
continue in the future.

Increasing investment in edtech:Edtech companies, including online tutoring

platforms, have attracted significant investment in recent years. This investment is expected
to continue as the demand for online education and tutoring services increases(Graziano and
Bryans-Bongey, 2018)

Global market opportunity:A subscription-based online tutoring platform can operate

in a global market, providing tutoring services to students around the world. This creates a
significant opportunity for growth and expansion, particularly in emerging markets where the
demand for online education is growing rapidly (Pulham and Graham, 2018)

 Identification of factors that will influence the industry

Several factors can influence the industry of a subscription-based online tutoring

platform for K-12 students. Here are some key factors to consider:

Technological advancements:Advancements in technology can significantly influence

the industry of a subscription-based online tutoring platform. As technology continues to
evolve, the platform can offer more advanced features such as AI-based learning tools, virtual
reality-based learning, and gasification to make learning more interactive and engaging.

Educational trends:Educational trends can also impact the industry of online tutoring
platforms. For example, the trend towards personalized learning and adaptive learning can
provide opportunities for online tutoring platforms to offer tailored learning experiences to
students (Hrastinski et al., 2018)

Demographics: Demographic factors such as the population growth of K-12 students, the
rise in homeschooling, and changing family dynamics can influence the demand for online
tutoring services. Online tutoring platforms need to be aware of these changes and adapt their
services to meet the changing needs of the market.

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Overall, the industry of subscription-based online tutoring platforms also online tutoring
platforms need to be aware of these factors and adapt their services to stay competitive and
meet the changing needs of the market (Johnson et al., 2022)

Market industry
__________________________________________________________________________________

 Pricing strategy
The pricing strategy of a subscription-based online tutoring platform for K-12 students can
have a significant impact on its success. Here are some factors to consider when developing a
pricing strategy:

Target market:The pricing strategy should be aligned with the target market. A
subscription-based online tutoring platform can target different segments, such as high-
income families or low-income families, and the pricing strategy should be tailored
accordingly.

Competitor pricing:The pricing strategy should be competitive with other tutoring

platforms in the market. It is important to understand the pricing strategies of competitors and
offer a pricing plan that provides value for money to customers(Xu et al., 2019)

Services offered:The pricing strategy should be based on the services offered. A platform
that offers more features, such as one-on-one tutoring, video conferencing, or personalized
learning plans, can charge a premium price.

 Throughout analysis of market size

The market size for the subscription-based online tutoring platform for K-12 students is
growing rapidly due to increased demand for online learning and advancements in
technology. Here is a brief analysis of the market size of the industry:

Growth drivers: The growth of the online tutoring market can be attributed to several
factors, including the increased adoption of online learning due to the pandemic, the rise in
homeschooling, and the increasing demand for personalized learning. The increasing

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availability of high-speed internet and advancements in technology have also contributed to
the growth of the market.

Regional analysis:The online tutoring market is expanding rapidly in the Asia Pacific
region, particularly in countries such as China, India, and South Korea. North America and
Europe also have a significant market share due to the high demand for online learning
services.

Competitive landscape:The online tutoring market is highly competitive, with several

players operating in the industry. Some of the leading players in the market include Chegg,
Inc., Pearson PLC, and Tutor.com. The market is also seeing the entry of new players, which
is increasing competition and driving innovation in the industry.

Target market:

The target market for a subscription-based online tutoring platform for K-12 students would
be parents and students who are looking for additional support in their education. This would
include students who are struggling with specific subjects, as well as those who are looking to
excel academically. The platform can also target homeschooling families, as well as students
who may have special educational needs. The target market would also include parents who
are looking for convenient, flexible, and affordable options for their children's education (An
et al., 2021)

Market position:

The market position of a subscription-based online tutoring platform for K-12 students would
depend on the quality of its offerings, the range of services it provides, and its pricing
strategy. The platform needs to offer a comprehensive and high-quality learning experience
to establish a strong market position. It should also provide flexibility in terms of the range of
subjects offered and the modes of delivery. The platform can differentiate itself by offering
unique features such as personalized learning plans, adaptive learning tools, and access to
expert tutors. By establishing a strong reputation and building a loyal customer base, the
platform can establish a strong market position.

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Market share:

The market share of a subscription-based online tutoring platform for K-12 students would
depend on the competition in the industry and the quality of the platform's services. The
platform needs to offer a superior product that provides value to its customers to establish a
significant market share. By offering competitive pricing, a wide range of subjects, and high-
quality learning experiences, the platform can attract a larger market share. Additionally,
effective marketing strategies and customer service can help the platform gain a competitive
advantage and establish a larger market share (Zuo et al., 2021)

Overall, to establish a strong market position and gain a significant market share, a
subscription-based online tutoring platform for K-12 students needs to offer a comprehensive
and high-quality learning experience, provide flexibility in its offerings, and differentiate
itself from the competition. The platform needs to target parents and students who are
looking for convenient, flexible, and affordable options for education and build a loyal
customer base by providing excellent customer service and effective marketing strategies (Li
et al., 2020)

Competitor analysis
__________________________________________________________________________________

 Evaluation of weaknesses and strengths of competitors

When evaluating competitors in the subscription-based online tutoring platform following

points will be considered

Here are some general strengths and weaknesses of competitors in this

industry:

Strengths:

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Established market position: Some competitors in this industry have established a strong
market position through years of experience and brand recognition.

Quality of services: Some competitors provide high-quality tutoring of the students,

which can help them to stand out in the industry (Johnson et al., 2022)

Variety of services: Some competitors offer a wide range of services, such as live or on-
demand tutoring, adaptive learning tools, and gasification, which can help to attract and retain
customers.

Experienced tutors: Some competitors hire experienced and qualified tutors who can
provide high-quality teaching to their students.

Weaknesses:

Limited reach: Some competitors may have limited reach, as they may only offer services
in specific regions or countries.

Pricing: Some competitors may charge high fees for their services, which can limit their
customer base

 Positioning in relation to competitors

Lack of personalization: Some competitors may not offer personalized learning plans or
may not have a wide range of subjects available, which can limit their appeal to customers.

Limited flexibility: Some competitors may not offer flexible learning options, such as on-
demand tutoring or self-paced learning, which can limit their appeal to busy parents and
students.

Overall, the strengths and weaknesses of competitors in the subscription-based online

tutoring platform for K-12 students industry can vary significantly. To establish a competitive
edge in this industry, it is important for a new platform to identify the weaknesses of its
competitors and to focus on providing high-quality services that address those weaknesses.
Additionally, the platform should leverage its strengths to differentiate itself from
competitors and attract customers. This could include offering unique features, providing
competitive pricing, or targeting under-served markets (Borup et al., 2019)

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Financial information
__________________________________________________________________________________

 Outline of startup costs

Here is an outline of startup costs for a subscription-based online tutoring platform for
K-12 students:

Website development: The development of a website is critical for the success of the
platform, and can involve significant costs. This can include the costs of web design,
development, hosting, and ongoing maintenance.

Software development: Developing software for the platform can also involve
significant costs, including the costs of hiring software developers, software licenses, and
ongoing maintenance.

Content development: The platform will require a library of educational content,

including video lectures, practice problems, and study materials. Developing high-quality
content can involve significant costs, including the costs of hiring subject matter experts,
instructional designers, and content creators.

 Resource requirements
The platform will require tutors to provide one-on-one or group tutoring sessions to students.
This can involve the costs of hiring tutors, providing training, and managing tutor schedules
and payments.

Marketing and advertising: The platform will need to invest in marketing and
advertising to attract customers. This can involve the costs of developing marketing
materials, advertising on social media platforms, and search engine optimization.

Technology infrastructure: The platform will require technology infrastructure to

deliver its services, including the costs of servers, storage, and bandwidth.

Administrative costs: Administrative costs such as legal fees, insurance, and accounting
services are also important considerations (Pulham and Graham, 2018)

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The total startup costs for a subscription-based online tutoring platform for K-12 students will
vary depending on the scope of the platform, the quality of its offerings, and the marketing
strategy.

__________________________________________________________________________________
___________________________________________________________________________

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