Reported to: Mr.
Mushfiqur Rahman
Reported By: Mohammed Tawsif-ur-Rahman Pir
Date: February 24, 2024
Title: Enterprise on tutoring services
1. Introduction
I have decided to take on the idea of a tutoring business as my enterprise project.
The reasons I have for choosing this idea is the following. Compared to other
business ventures tutoring has a significantly low running cost and does not
require significant initial investment or infrastructure the option to travel to
the client’s location or even operate from home is always manageable, The need for
individual tuition, standard exam requirements, and rising academic competition
have all contributed to an increase of need for tutoring services. This gives a
profitable chance to get into the tutoring profession; I also have a personal
interest in the pursuit of education and firmly believe in the transformative power
of education and as such want to help others succeed academically. This report
assesses the possibility of starting a tutoring service is a potential enterprise,
it examines the market demand for tutoring services, the opportunities and
challenges faced when entering this industry and also the strategic considerations
needed to be made to have success in it.
2. Findings
My other idea for an enterprise project was to start small food truck and to
compare the feasibility of starting either project I have prepared a SWOT analysis,
and then finalized my decision in progressing with a tutoring service rather than
the food truck. The following SWOT analysis is as shown.
SWOT analysis for tutoring service enterprise:
Strengths:
• Flexible: The nature of the tutoring business model allows for customization
of services to meet the diverse needs of students, including individual or group
sessions, in-person or online tutoring, and flexible scheduling options.
• Low Overhead Costs: With minimal equipment requirements and the option to
operate from home or online platforms, the tutoring service can keep overhead costs
low, maximizing profitability.
Weaknesses:
• Seasonal Demand: The demand for tutoring services may fluctuate seasonally,
with peak periods coinciding with exam seasons or academic milestones. Managing
fluctuating demand and maintaining consistent revenue streams throughout the year
could pose challenges.
• Competition: The tutoring industry is highly competitive, with numerous
established providers and freelance tutors competing for clients. Standing out in
the market and differentiating the tutoring service from competitors may require
significant marketing efforts and unique value propositions.
Opportunities:
• Growing Market Demand: The increasing emphasis on academic achievement and
the desire for personalized learning experiences drive the growing demand for
tutoring services, presenting opportunities for expansion.
• Technological Advancements: Advances in technology enable the tutoring
service to offer online tutoring platforms, interactive learning tools, and virtual
classrooms, expanding its reach to a broader audience and enhancing the learning
experience for students.
Threats:
• Regulatory Compliance: Compliance with regulatory requirements, such as
educational standards, background checks for tutors, and business licensing, may
pose challenges and increase operational costs for the tutoring service.
• Economic Downturns: Economic downturns or changes in consumer spending habits
could impact disposable income available for discretionary spending on tutoring
services, potentially leading to a decrease in demand.
• External Disruptions: External factors such as natural disasters, public
health crises, or technological disruptions could disrupt operations and affect the
delivery of tutoring services, highlighting the need for contingency planning and
risk mitigation strategies.
SWOT analysis for food truck enterprise:
Strengths:
• Mobility: A food truck's mobility allows it to reach different locations and
cater to various events, maximizing exposure to potential customers and adapting to
changing demand.
• Low Overhead Costs: Compared to traditional restaurants, food trucks
typically have lower overhead costs, as they require less initial investment in
rent and utilities.
Weaknesses:
• Weather Dependency: Food truck operations may be affected by inclement
weather conditions, limiting the ability to operate outdoors and potentially
impacting revenue during adverse weather periods.
• Limited Seating and Amenities: The limited space and amenities in food trucks
may deter customers seeking a sit-down dining experience or certain conveniences
typically found in brick-and-mortar restaurants.
• Regulatory Challenges: Food trucks must comply with various regulatory
requirements, including permits, health and safety inspections, and zoning
regulations, which can be complex.
Opportunities:
• Growing Demand for Convenient Dining Options: The increasing demand for on-
the-go and convenient dining options presents opportunities for food trucks to
capitalize on changing consumer preferences and lifestyles.
• Local Food Delivery Service: Utilize the food truck's mobility to offer local
food delivery services, providing freshly prepared meals to customers' doorsteps or
designated pickup points. This expands the customer base beyond traditional street
vending and capitalizes on the growing demand for convenient meal delivery options.
Selecting the enterprise project on tutoring provides several strategic advantages.
First off, the need for individualized learning and increasing academic competition
are driving big growth in the tutoring field. This trend guarantees a continuous
need for tutoring services, giving the industry a solid base. Second, compared to
other businesses, tutoring has extremely low overhead costs, which lowers financial
risk and increases revenue. Also, the tutoring business model's adaptability to
different market sectors makes it a versatile option that increases revenue
possibilities. So after a thorough evaluation I came to the settlement of choosing
tutoring as my enterprise project.
For my tutoring service enterprise I have prepared a questionnaire with the
following questions:
1. How did you hear about tutoring services?
• Online search
• Referral from a friend or family member
• Social media
• School or educational institution
• Other
2. What subject(s) are you seeking tutoring for?
• Math
• Science
• English/Language Arts
• History/Social Studies
• Foreign Language
• Test Preparation (SAT, ACT, etc.)
• Other (please specify):
3. What grade level or educational level are you or your child currently in?
• Elementary school
• Middle school
• High school
• College/University
• Adult learner
4. What are your main goals or objectives for seeking tutoring services?
• Improve grades
• Prepare for exams
• Develop study skills
• Catch up on missed coursework
• Gain deeper understanding of subject matter
• Other
5. What learning style do you or your child prefer?
• Visual (diagrams, charts)
• Auditory (listening, discussing)
• Kinesthetic (hands-on activities)
• Reading/Writing
• Combination of the above
• Not sure
6. How would you rate your current proficiency level in the subject(s) you're
seeking tutoring for?
• Beginner
• Intermediate
• Advanced
7. What days and times are you available for tutoring sessions?
• Weekdays (morning, afternoon, evening)
• Weekends (morning, afternoon, evening)
8. Do you prefer in-person tutoring sessions or online tutoring sessions?
• In-person
• Online
• No preference
9. What is your budget for tutoring services per hour?
• Less than 500BDT
• 500BDT-1000BDT
• 1000BDT-1500BDT
• 1500BDT-2000BDT
• More than 2000BDT
• Not sure
