Business Plan Sample for Business Owners and Entrepreneurs — Englet
A business plan is a detailed plan to describe our future business. It usually consists of what we are going to do and how we are going to do it.
Business Plan Roles
A business plan has a significant role in making our business successful for a few reasons.
Firstly, it can help us to attract investors. When investors see a good business plan, where it is highly possible that they are going to get profit, they will certainly be interested in our business. Consequently, they will invest in our business.
Secondly, a business plan can also attract good employees. To succeed in our business, we need good employees. They will come to us when they see the future of our business is good.
Thirdly, a business plan can also help us to get good suppliers. Most of these suppliers will want to work with us when they see that our business has a good future.
Finally, a business plan can also act as a guide for the business owners or the entrepreneurs. In essence, a business plan is extremely necessary to be made before we start our business.
Business Plan Elements
A business plan usually consists of four elements:
- Executive Summary
- Business Description
- Marketing
- Financials
Business Plan Sample
Business Plan
Smart Tutoring Service 2023
EXECUTIVE SUMMARY
Smart Tutoring Service presents a very promising opportunity in my local market for busy parents. Smart Tutoring Service will give customers a higher quality tutoring service than the competition.
Revenues are expected to grow from a loss of Rp -14, 000, 000 to a profit of Rp 295,000,000 in three years.
BUSINESS DESCRIPTION
Smart Tutoring Service is a tutoring service that helps busy people with high quality tutoring services in the local market and helps students get better grades at school.
Management and Operations
Smart Tutoring Service will have one manager and 4 employees. Smart Tutoring Service will answer calls, schedule on-site tuition, online tuition, and home tuition service.
Market research
Smart Tutoring Service presents a very promising opportunity in my local market with busy parents. Smart Tutoring Service will give customers higher quality tutoring service than the competition.
Tutoring Services do present an opportunity in my local market with parents according to the following data (Total number of survey respondents = 20):
- “Do you ever need tutoring services for your children?” All respondents need Tutoring Services. 100% of respondents (10 men, 10 women) responded “yes”
- “Would you like to try a new tutoring service in the future?” Respondents are interested in trying Tutoring Services. 80% responded either “yes” (12) or “maybe” (4)
- “Would you like to try one of these tutoring services?” Respondents are interested in trying Tutoring Services. 80% (8 men, 8 women) responded “Math” (8) or “English” (4) “Science” (4) “Exam Preparation Program” (2) “College Preparation Program” (2)
Competitive Analysis
Smart Tutoring Service has 3 direct competitors and 2 indirect competitors in my local market.
Direct competition average price for similar product: Rp 300,000 per session.
Indirect competition from English Courses service.
Marketing Mix
The following marketing mix will create the biggest sales for Smart Tutoring Service because it is uniquely
designed to attract busy people that have some children who need extra classes to increase their achievement, prepare for their exam or college entrance.
Product
Things to consider (Services):
Smart Tutoring Service:
On-site Tutoring: Served clients around Jakarta, Depok, and Bogor
One tutor for one student
One tutor for maximum four students
Online Tutoring: One tutor for one student
On-site
Classes
Private Class:
Semi Private:
Online Classes
Private Class:
Price
Need to Consider:
Profit Profit margin Competitor Prices
Rp 250,000 per session (Rp 50,000 less than the competition)
Place
Where the target market shops for this service. Costs of Selling: Directly through other business
Smart Tutoring Service: Customers will schedule the service: By phone By signing up via the website
Promotion
How will people learn about the product: Advertising, Special Pricing
Smart Tutoring Service: Advertise via Email, Website, and Social media
FINANCIALS
Startup Costs
Total startup costs will be Rp 24,000,000.
Sales & Revenue projections
Revenues are expected to grow from Rp 750,000,000 to Rp1,125,000,000 in three years.
Cost projections
Operating Costs will remain stable for Years 1, 2, and 3.
Income Statement
Income is expected to grow from a loss of Rp 14,000,000 to a profit of Rp 295,000,000 in three years.
Originally published at https://englet.com on September 7, 2023.
