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.
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.
A business plan usually consists of four elements:
Business Plan
Smart Tutoring Service 2023
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.
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.
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.
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):
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.
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): On-site Classes Private Class: Semi Private: Online Classes Private Class: | 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 |
| Price | Need to Consider: ProfitProfit marginCompetitor 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 phoneBy signing up via the website |
| Promotion | How will people learn about the product:Advertising, Special Pricing | Smart Tutoring Service: Advertise viaEmail, Website, and Social media |
| Room DesignFurniture2 Laptops | Rp 8,000,000Rp 8,000,000Rp 8,000,000 |
| Total Startup Costs | Rp 24,000,000 |
Total startup costs will be Rp 24,000,000.
| Year 1 | Year 2 | Year 3 | |
| Expected Sales | 3,000 | 4,000 | 4,500 |
| Price per product | Rp 250,000 | Rp 250,000 | Rp 250,000 |
| Expected Revenue | Rp 750,000,000 | Rp 1,000,000,000 | Rp 1,125,000,000 |
Revenues are expected to grow from Rp 750,000,000 to Rp1,125,000,000 in three years.
| Year 1 | Year 2 | Year 3 | |
| Startup Costs | Rp 24,000,000 | <None> | <None> |
| Operating Costs | Rp 740,000,000 | Rp 830,000,000 | Rp 830,000,000 |
| Expected Costs | Rp 764,000,000 | Rp 830,000,000 | Rp 830,000,000 |
Operating Costs will remain stable for Years 1, 2, and 3.
| Year 1 | Year 2 | Year 3 | |
| Expected Revenue | Rp 750,000,000 | Rp 1,000,000,000 | Rp 1,125,000,000 |
| Expected Costs | Rp 764,000,000 | Rp 830,000,000 | Rp 830,000,000 |
| Expected Income | Rp -14,000,000 | Rp 170,000,000 | Rp 295,000,000 |
Income is expected to grow from a loss of Rp 14,000,000 to a profit of Rp 295,000,000 in three years.
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