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PRODUCTION PLAN
BUSINESS PLAN CODETTA
Entrepreneurship (CS D)
Bisma Jalal
Mubariz Barkat Ali
Muhammad Ubiadullah
Osama Asif
Yameen Javaid
Executive Summary
INTRODUCTION
The Problem
Problem
- No quick and easy way to find answers to very specific academic problems.
- The free resources like YouTube are general and some degree of curating is required on the part of the user.
- Paid resources, require commitment. The user is bound.
Our Solution
Our Solution
- A modular session-based one-on-one online learning/tutoring environment, employing screen-casting techniques, to work out only the specifics of a problem.
- Commit to one session at a time.
- Focus on a specific angle or problem.
Target Market
- Our target market will be composed, primarily, of students pursuing higher education.
- We aim to target the minority who are “stuck” on a point in their academic pursuit
and want a timely solution.
Target Market
BUSINESS OVERVIEW
BUSINESS OVERVIEW
Codetta is an online one-on-one tutoring service which will specifically target to eliminate the gaps in the understanding of its users regarding a specific academic concept.
Our purpose is to provide our users with optimal explanations for their academic queries in a hassle-free and time efficient manner from the comfort of their homes irrespective of time.
We will cater to the fraction of students who will be tempted to pay a premium for precise and timely solutions compared to foraging the internet or other resources for answers.
Industry Overview
The Education sector is highly competitive and ever growing all over the world.
In the fiscal year 2019-20, the Pakistani government has allocated Rs. 45 Billion for the educational sector.
Industry Overview
Technological Factors
Technological Factors
- Online platforms like YouTube, Reddit, StackExchange etc. are more than adequate free alternatives and supplements to traditional academia.
- Websites like Coursera, EdX etc. are providing high quality online courses either free or for a fraction of the price one would be expected to pay for a traditional-styled program.
Social Factors
- There is a general increase in emphasis on Concept-based learning as compared to Rote Learning
- In this day and age one has access to limitless knowledge only restricted by his/her own capacity to learn and “innovation” is the buzzword of the decade.
Social
Factors
Mission Statement
“Codetta aims to provide students the missing link; the final piece of the puzzle; the specific knowledge they require in order to comprehend a specific concept or fill a gap in their knowledge in a
hassle-free and timely way in an online modular environment.”
Business Model
The baseline price will be Rs.1000/hr.
We will serve as an intermediary between the teacher and students.
We will take 10% of each transaction.
The price can vary depending on the complexity of the question.
MARKET AND INDUSTRY ANALYSIS
MARKET ANALYSIS
Customer Profile
Customer Profile
- Purpose of customer profile
- Demographics
- all students of ages 14 onwards
- Psycho-graphics
- short attention span/used to curated content
- most do not pay to online educational sites
- Would recommend the web app if the student finds a teacher quick enough and understand the concept
- Might not come again if he/she does not find a teacher or understand the concept
Customer Profile
Customer Profile
• General characteristics of our customer
• may require urgent answer
• may have researched the internet in vain
• probably does not want to research and would rather pay
Market Segment
- Our market segment is that fraction of students who would value a timely solution more than a tiresome or time consuming one.
Market Segment
Customer Needs
Customer Needs
- Some students do not have time for internet research
- Some students do not have means to go to a teacher every time they are stuck on a point
- Some students do not want to enroll in an entire course and want to understand only a specific topic
Market Size
- Market size is the number of individuals in a certain market segment who are potential buyers.
- Survey conducted
Market Size / Trends
MCAT Students
University Students
Q.1
University Students
MCAT Students
Q.2
University Students
MCAT Students
Q.3
University Students
MCAT Students
Q.4
University Students
MCAT Students
Q.5
University Students
MCAT Students
Q.6
University Students
MCAT Students
Q.7
University Students
Q.8
University Students
Q.9
Competition
Threat of substitutes
Our major competitors include YouTube, Skill share, Courser_a, physical academies and school
Threat of new Entrants
Competition
Porter's Five forces Model
Rivalry among existing firms
Bargaining power of suppliers
Bargaining power of
buyers
Threat of substitutes
For our business model, threat of substitutes is high.
Since due the inherent nature of our service, it is difficult to perceive it as the first step rather than as a last resort.
- Teachers
- Online websites like YouTube and Khan Academy.
-> No Guarantee that to found what they are looking for
-> Still go for these first (unawareness of Codetta)
Threat of new Entrants
For Codetta, threat of new entrants is high because
online study is becoming increasingly popular among students and physical academies and schools are also growing.
Barriers of Entry :
- Product differentiation (unique business model)
- Investing on Software of Codetta
- Spending more on Advertisement (Awareness)
- Gaining Loyalty of out Clients
(Students and Teachers both)
Rivalry among existing firms
There is a high rivalry between tuition centers and schools. but have have no rivalry with web teaching sources as You tube , Coursera.
Factors determining nature and intensity of rivalry between firms
- Number and balance of competitors
- Degree of difference between products
- Growth rate of industry
- Level of fixed costs
Bargaining power of suppliers
The suppliers are the teachers. In our industry, the bargaining
power of suppliers is low.
The following factors affect the ability of suppliers to exert
pressure on buyers and suppress the profitability of the industry:
- Supplier concentration
- Switching costs
- Attractiveness of substitutes
- Threat of forward integration
Bargaining power of buyers
For our business plan, the buyers are the students.
The student can adopt one of the alternatives and not use our service but the fact that he/she will not find an exact substitute gives us the upper hand in this tradeoff.
- Buyer’s costs:
For Codetta, this might mean that if a student is really passionate about a topic, he might be willing to pay more to understand it than a normal student
- Degree of standardization of supplier’s products:
In this is not possible or at least the effect is not very significant since our service is very personalized and specific.
- Threat of backward integration:
Again it is very likely that some student(s) who aspire to become a
entrepreneur(s) might implement our business model.
Swot Analysis
SWOT Analaysis
SALES AND MARKETING
SALES AND MARKETING
- Our service caters to a very niche market, therefore all higher education students under right circumstances are our potential target market.
- As our customer base mostly consists of teenagers so our primary marketing platform will be Facebook
Method of Sales
- We will be generating revenue through our Web Application.
- Teachers and students will register through our App.
- Students will post their queries.
- If a teacher believes he or she can provide a satisfactory solution, they can establish a Session.
Advertisement and Promotions
- Facebook Ads
- YouTube Advertisement videos
- Email Marketing
- Hosting Events
- Collaborating with other University Students to Spread the Word
Our Facebook Page
MARKET ANALYSIS
Linkedin Buiseness Account
MARKET ANALYSIS
Brochure
MARKET ANALYSIS
PRODUCTION PLAN
- The first stage will be to develop a minimalistic but functional Web App.
- Our Development Team will work on getting the app up and running in the next 2- 4 months.
- We will only offer 3 subjects: Mathematics, Chemistry and Physics.
FEATURES
FEATURES
- Simple and Minimalistic Screen-casting UI for streamlined workflow.
- Support for Mathematical notations, and Chemistry and Physics equations.
- Tags based question filtering.
- List of teachers with ratings and available timings for users to choose from.
- Built-in teacher-student chat system for smooth communication.
- Post session feedback from both student and teacher.
- A simple screen-casting UI to streamline workflow.
- A built-in support for Mathematical notation, chemistry formulas and physics equations via APIs.
- Tag based question filtering.
- List of relevant teachers with rating and available timing visible to student.
- In built chat option between student and teacher.
MOCK-UPS
MOCK-UPS
- A simple screen-casting UI to streamline workflow.
- A built-in support for Mathematical notation, chemistry formulas and physics equations via APIs.
- Tag based question filtering.
- List of relevant teachers with rating and available timing visible to student.
- In built chat option between student and teacher.
LIFE-CYCLE AND GROWTH
LIFE-CYCLE AND GROWTH
- Rs. 1000 fixed price for all kinds of questions during soft launch.
- EasyPaisa as the mode of payment.
- Initial 5-10 teachers will be people we know, with various academic achievements.
- Thorough teacher selection process via interviews.
- Maximum revenue will be used for Marketing and Development.
EXIT STRATEGY
EXIT STRATEGY
- In case our business does not take off, we will sell our web app to a prospective buyer.
- In case we do not find a buyer in a certain time, we will turn our app into a peer to peer teaching-learning service.
- This will then be published on Google Play Store etc by taking apart the web app's screen-casting etc features.
Management Team
- Chief Executive Officer (CEO): Mubariz Barkat is the CEO of Codetta
- Chief Operating Officer (COO): Bisma Jalal is the COO of Codetta
- Chief Technology Officer (CTO): Osama Asif is the CTO of Codetta
- Chief Financial Officer (CFO): Yameen Javed is the CFO of Codetta
- Chief Marketing Officer (CMO): Ubaidullah is the CMO of Codetta
MANAGEMENT
FINANCIAL
Risks :
We do not have too many risks to speak of since even if we end up making zero revenue , we can still cover up easily.
Most of the development and promotional content will be produced in-house with a few professional ads.
FINANCIALS
Expenses and capital requirements :
PROJECTION
PROJECTION
Cash Flow :
Income Statement :