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BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 1 | P a g e BUS 2 27 : New Business Development Wednesday CRN: 15979 SD2 (8:00am -11:00am) S2S Tutors ( Online Tutoring ) Name E-mail ID Contact Number Student ID Ansh Seth [email protected] 8287219589 300176445 Myank Sood [email protected] 9888102585 4 300176424 Jasmeen Kaur [email protected] 9888667026 300181858 Satwinder Kaur Dhillon [email protected] 8284983614 300176832 Submitted to: Prof. Mike Ivanof Submission due : March 24, 202 1 Submitted on: March 23, 202 1 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 2 | P a g e To, Prof. Mike Ivanof University of the Fraser Valley Abbotsford , British Columbia Canada March 24, 2021 We, the partners of this company called S2S tutors, are writing to present you with a business plan in the hopes that you would like it and approve it. The business was born out of a passion to break into the billion -dollar tutoring industry and capture emerging markets within British Columbia and Canada. S2S is an online tutoring platform where university students can seek academi c assistance from seniors who can act as their tutors and in return tutors can work as part -time or even full -time instructors to earn extra income. S2S tutors was founded by four UFV business students and funded by small bank loan and personal savings. O ur combined experience in finance, accounting, marketing, and business communications has helped us to build and promote our services. Our target market is millennial generation that includes college going students in the age group of 16 -30 years. S2S uniq ue advantage is that it provides one -on -one sessions where students can attain their maximum potential and our specific benefits include personalized learning, convenience, regular contact with tutor, doubt clarifi cation, improved grades and cost -effective . Furthermore, our competitive advantage against the rivals is that student mentors can also gain significant teaching experience in education industry and can widen their concept - horizon. The following is a detai led business plan detailing S2S Tutors mar keting, operations, and financial overview. We hope that after reading this business plan, you will feel confident in becoming a part of the S2S Tutors Team. Sincerely, Ansh Seth Myank Sood Jasmeen Kaur Satwinder Kaur Dhillon BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 3 | P a g e TABLE OF CONTENTS ACKNOWLEDGEMENT ................................ ................................ ................................ ......... 6 CERTIFICATE OF ORIGINALITY ................................ ................................ ......................... 7 EXECUTIVE SUMMARY ................................ ................................ ................................ ....... 8 BACKGROUND I NFORMATION ................................ ................................ .......................... 9 GANTT CHART ................................ ................................ ................................ .................. 10 For project ................................ ................................ ................................ ........................ 10 For development of business plan ................................ ................................ .................... 11 THE INDUSTRY ................................ ................................ ................................ ..................... 12 SWOT ANALYSIS ................................ ................................ ................................ .............. 13 Strengths ................................ ................................ ................................ .......................... 13 Weaknesses ................................ ................................ ................................ ...................... 13 Opportunities ................................ ................................ ................................ .................... 14 Threats ................................ ................................ ................................ .............................. 14 PESTEL ANALYSIS ................................ ................................ ................................ ........... 14 Political ................................ ................................ ................................ ............................ 14 Economical ................................ ................................ ................................ ...................... 14 Social ................................ ................................ ................................ ................................ 15 Technological ................................ ................................ ................................ ................... 15 Environmental ................................ ................................ ................................ .................. 15 Legal ................................ ................................ ................................ ................................ 15 PORTER’S FIVE FORCES ANALYSIS ................................ ................................ ............ 16 Bargaining power of buyers ................................ ................................ ............................. 16 Ba rgaining power of suppliers ................................ ................................ ......................... 16 Threat of substitutes ................................ ................................ ................................ ......... 16 Threat of new entrants ................................ ................................ ................................ ..... 17 Internal Rivalry among the firm ................................ ................................ ...................... 17 PRODUCTS AND SERVICES ................................ ................................ ............................... 19 Description of service ................................ ................................ ................................ ........... 19 Vision statement ................................ ................................ ................................ ................... 19 Mission statement ................................ ................................ ................................ ................. 19 Strengths ................................ ................................ ................................ ............................... 19 Weakness ................................ ................................ ................................ .............................. 20 Unique and Competitive Advantage ................................ ................................ .................... 20 Trademarks and copyright ................................ ................................ ................................ .... 20 Technology ................................ ................................ ................................ ........................... 20 MANAGEMENT ................................ ................................ ................................ ..................... 21 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 4 | P a g e Organization chart ................................ ................................ ................................ ................ 21 Functions and responsibilities ................................ ................................ .............................. 22 Curricula vitae ................................ ................................ ................................ ...................... 22 Management Compensation ................................ ................................ ................................ . 23 MARKET RESEARCH AND ANALYSIS ................................ ................................ ............ 24 Market size and trends ................................ ................................ ................................ .......... 24 Demographic profile ................................ ................................ ................................ ............ 24 Purchase decision makers ................................ ................................ ................................ ..... 24 List of major competitors ................................ ................................ ................................ ..... 24 Marketing Advantages vers us Competitors ................................ ................................ ......... 26 MARKETING PLAN ................................ ................................ ................................ .............. 27 Product ................................ ................................ ................................ ................................ . 27 Price ................................ ................................ ................................ ................................ ...... 27 Place/ Distribution ................................ ................................ ................................ ................ 27 Promotion ................................ ................................ ................................ ............................. 28 Market Segmentation ................................ ................................ ................................ ....... 29 Selling policies ................................ ................................ ................................ ................. 29 Service policies ................................ ................................ ................................ ................ 30 Expansion Plan ................................ ................................ ................................ ..................... 31 LAND, BUIL DING & EQUIPMENT ................................ ................................ ..................... 32 OPERATIONS ................................ ................................ ................................ ......................... 33 Workflow ................................ ................................ ................................ ............................. 33 Supplies and material ................................ ................................ ................................ ........... 34 Personnel plan ................................ ................................ ................................ ...................... 34 PROFESSIONAL REFERENCES ................................ ................................ .......................... 35 FINANCIAL PLAN ................................ ................................ ................................ ................. 36 Start -up costs ................................ ................................ ................................ ........................ 36 Pro -forma Income Statement ................................ ................................ ............................... 36 Cash flow projections ................................ ................................ ................................ ........... 37 Pro -forma Balance Sheet ................................ ................................ ................................ ...... 37 Break -even point ................................ ................................ ................................ .................. 38 Financial Ratio Analysis ................................ ................................ ................................ ...... 38 Loan Proposal ................................ ................................ ................................ ....................... 39 RISKS AND PROBLEMS ................................ ................................ ................................ ...... 39 Worst case scenarios ................................ ................................ ................................ ............ 39 Avoidance of risks ................................ ................................ ................................ ................ 40 Impact of risks ................................ ................................ ................................ ...................... 40 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 5 | P a g e APPENDIX ................................ ................................ ................................ .............................. 41 Appendix A: Curricula vitae ................................ ................................ ................................ 41 Appendix B: Forecasted service revenue (Year 1) ................................ ............................... 45 Appendix C: Forecasted service revenue (Year 2 -5) ................................ ........................... 45 Appendix D: Forecasted tutor salary (Yea r 1) ................................ ................................ ..... 45 REFERE NCES ................................ ................................ ................................ ........................ 46 Figure 1 ................................ ................................ ................................ ................................ .... 10 Figure 2 ................................ ................................ ................................ ................................ .... 11 Figure 3 ................................ ................................ ................................ ................................ .... 12 Figure 4 ................................ ................................ ................................ ................................ .... 21 Figure 5 ................................ ................................ ................................ ................................ .... 33 Figure 6 ................................ ................................ ................................ ................................ .... 38 Table 2 ................................ ................................ ................................ ................................ ..... 23 Table 3 ................................ ................................ ................................ ................................ ..... 26 Table 4 ................................ ................................ ................................ ................................ ..... 27 Table 5 ................................ ................................ ................................ ................................ ..... 28 Table 6 ................................ ................................ ................................ ................................ ..... 29 Table 7 ................................ ................................ ................................ ................................ ..... 29 Table 8 ................................ ................................ ................................ ................................ ..... 30 Table 9 ................................ ................................ ................................ ................................ ..... 34 Table 10 ................................ ................................ ................................ ................................ ... 34 Table 11 ................................ ................................ ................................ ................................ ... 45 Table 12 ................................ ................................ ................................ ................................ ... 45 Table 13 ................................ ................................ ................................ ................................ ... 45 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 6 | P a g e ACKNOWLEDGEMENT We would like to dedicate our utmost respect and gratitude towards Prof essor Mike Ivanof , Course Instructor, University of the Fraser Valley for giving us a good guideline and great suggestions for this team pro ject throughout numerous interactions. Many individuals have made helpful comments on this proposal, p articularly our classmates and team members themselves, which gave us encour agement to intensify our mission. Even in these times of global pandemic, we thank all individuals for their direct and indirect support to complete our mission. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 7 | P a g e CERTIFICATE OF ORIGINALITY This is to declare that: 1. We have written our own words. 2. We have not copied. 3. We have not plagiarized. 4. We have cited all sources from where the text was quoted or adapted. Group Member: Ansh Seth Group Member: Myank Sood Group M ember: Jasmeen Kaur Group Member: Satwinder Kaur Dhillon BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 8 | P a g e EXECUTIVE SUMMARY S2S tutors aim to provide assistance to university students from their sen iors, thereby benefitting both the parties. Our business wants to provide the service to university stu dents with the required assistance through an online platform, thereby cutting away the restrictions posed by geograph ical boundaries. The tutors will re gister themselves with S2S tutors on its official website. Students will fill a form showcasing their r equirements, and the website uses a matching criterion for appointing the best suited mentors. The meetings can be sch eduled both online and offline acco rding to the mutual preferences of both the student and the tutor. S2S tutors is a general partnership among 4 business students sharing an equal liability of 25% each. Each of the four partner s has contributed $ 10,000, a nd a loan of $37,500 will be sancti oned , thereby making the total initial investment to be $77,500 . The business will be managed with the help of each member, named Ansh Seth, Myank Sood, Jasmeen Kaur and Satwinder Kaur Dhillon, having expertise and knowledge in different concentrations. S2 S tutoring service has identified target market segment that will be pursued. In British Columbia, Cana da, the population demographics for target market is the millennial generati on. The business’ main focus includes college going students in the age group 16 -30 years. Tutoring has been around as long as students. However, while the need for tutoring exists , the bulk of tutoring taking place in the market is very limited and unorga nized. What sets this company apart is its unique proposal of providing tutor ing services through experienced seniors. The expected service revenue generated in the first year of b usiness is $184,860 which increases by 10% to the next 2 years (Year 2 and 3 ). After the 3rd year, we anticipated to bring inflow of $268,416 which is 20 % surge from the previous year and similarly in the 5th year too. In order to take the loan from the ba nk, all the partners have agreed to keep “Gold” as a collateral of the equal amount of security required by the bank. This is done to distribute the risk among all the partners equally. We, the partners have decided to not take an y salary until we reach ou t the breakeven point and thus all the partners will cope -up with their personal expenses through their remaining savings as well as on through parent’s salary. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 9 | P a g e BACKGROUND INFORMATION S2S tuto rs is a venture created by 4 busines s students who have aspire to gain success by starting their own business . Each partner is pursuing a BBA degree with different concentrations which will provide them expertise an d specialised knowledge to operate different departments. The business concept came from one partner wh o was working as a private tutor to manage his college finances. He came up with his difficulties experienced by him to convert it into a business propos ition with the objective of solving people's problem in the academic aspect during the pandemic . The bu siness is a general partnership of 4 members who have equal share of 25% in the business sharing full responsibiliti es. All decisions will be taken with each partner’s mutual consent. Each partner brings his skills and knowledge as asset and is liable by a cts of other partners (mutual agent) with unlimited liability. Ansh Seth : He lives in New Delhi, India and will contribute $10,000: $2500 from personal savings and $7500 from parents. Because of special interest in numbers, he will take care of the accoun ts and finances of the company like managing cash flows, allocation and cost diversion, payroll accounting and ot her related tasks. Myank Sood: He lives in Ludhiana, India and will inject $10,000; $4000 from his personal savings, $4000 from parents and $20 00 from sibling. He is interested in controlling the business day to day workings and to focus all the activities on the organisational goal. Therefore, he will be the in charge of the operations. Satwinder Kaur Dhillon: She lives in Chandigarh, India and will be contributing $10,000: $5000 that she borrowed from her parents and $5000 from her savings. As a Human res ource major, she has acquired the compet encies that are necessary to develop and train human capital. As such, she will be handing recruitment and management of human capital. Jasmeen Kaur: She lives in Moga, India and will be contributing $10,000; out of which $6000 will be borrowed from her pa rents and $4000 from her personal savings. Because of her strong interests in marketing, she will be ha ndling the marketing segment of our online tutoring business. She plans to elevate the business through online pl atforms. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 10 | P a g e GANTT CHART For project Months 1 2 3 4 5 6 7 8 9 10 11 12 13 ◆◆◆ Conceptualization ◆ Development ◆ Implem entation ◆ Operations Figure 1 Conceptualization Total Start -up cost (for details refer to Financial Plan) = $ 77,500 Initial investment = $ 40,000 Contribution per member= $ 10,000 Bank Loan = $ 37,500 In this phase, all the managing partners are equally involved in designing a business plan. This process takes 3 months to be completed. Development Webs ite expenses (for details refer to Financial Plan) : $ 39,000 Trademark & copyright: $ 450 In this phase , Myank Sood will be responsible for working in close proximity with website developers which may take around 7 months to be finished. Implementation Ma rketing cost (for details refer to Marketing cost Plan) : $ 27,900 In this phase, Ansh Seth will be allo cating budge t to different departments and operations. Jasmeen Kaur will implement the mark eting plan to gain client as well as tutor base. Satwinder Kau r will start the recruitment process to hire tutors and managing clients. This will take 4-5 months to implement th e business plan. Operations Supplies & material cost: $ 550 Tutor fees: $72, 540 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 11 | P a g e Stipends & salaries: $107,460 Website maintenance: $ 720 SEO agency fees: $ 9,600 (refer to Financial Plan) In this last step, all partners will begin their depart mental operations. Myank will get supplies, Jasmeen will keep a check on marketing promotions and efficiency and accordingly take necessary corrective st eps. Satwinder will directly manage tutors and s tudent enrolled with the firm. Furthermore, she will lo ok after payroll activities, performance appraisal and evaluation of them . Operations will be started after 11 months of conceptualization, development a nd implementation. For development of business plan Figure 2 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 12 | P a g e THE INDUSTRY Online education comes under the s ector “All other schools and instruction” with NAICS code 61169. In 2019, the breakdown of employer establishments in this industry was as follows: 48.1% of t hem were considered micro, employing less than five employees; small establishments accounted for 51%; and medium -sized establishments accounted for an additional 0.9% of the total number of establishments. Large employers, those with more than five h undre d persons on payroll, accounted for 0% of the total establishments. Figure 3 There are 9268 businesses under this industry in 2019 which have average revenue from $30,000 - $5,000,000. The average wage rate in the industry is around $17.95. The global online tutoring services market size was valued at USD 5.61 billion in 201 9 and is expected to expand at a compound annual growth rate (CAGR) of 16.1% from 2020 to 2027. Structured online tutoring involves real -time interaction between the students and the tutor. The segment is anticipated to register a CAGR of 14.3% over the fo recas t period. The growth can be attributed to the growing prominence of live teaching sessions via videoconferencing. Canada counts for 13% of total mar ket and thus it offers tremendous BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 13 | P a g e opportunity to enter into this industry. (Grandview Research, 2020) The Sc ience, Technology, Engineering, and Mathematics (STEM) courses segment dominated the market and accounted for more than 60.0% share of the global re venue in 2019. Canadian Private tutoring industry is surging at 7% CAGR rate. Moreover, due to Covid 19 , Online tutoring got a big push by the consumers. Hence, the industry is in big boom and likely to grow at this pace in future too. Mobile tutors and V naya are our key competitors. However, in general they don’t have significant market share which is rou ghly scattered around 3 to 4 percent each. More data on competitors are elaborated in the later portion of the report. There are no lawful restrictions t o enter into the entry and thus there is an easy entry and exit i n the Online tutoring industry. As we are dealing with education sector and therefore, knowledge plays an important role to start the business. The tutors hired by the business should provi de exceptional service to the students to boost their academic su ccess to build a goodwill and be compe titive in the field. Moreover, online tutoring is a technically intensive business industry because a website and optionally an app have to be built to d eliver the service to the students. Developing a website is prett y and expensive and moreover its conti nuous maintenance and updates will need good amount of working capital. So, this industry requires pretty substantial amount of capital to start a busine ss. SWOT ANALYSIS Strengths For a tutoring business to succeed, one strength has to be its people. An other strength of online teaching is flexibility. As a teacher (or business owner), you can sell training material online and teach at a mutually decided time. Weaknesses As this is a highly competitive industry and anyone can operate as an academic tutor without any licensing requirement for standard educational background. As such, it is up to the entrepreneur that developed this business to find ways t hat allow them to aggressiv ely expand their operations while differentiating their tutoring services fro m other freelancers and businesses within the area. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 14 | P a g e Opportunities Tutoring services are always going to be in demand among parents and students given th e fact that some people str uggle with certain academic disciplines. This can be a highly lucrative busin ess simultaneously providing the students and teachers their desired service. Online coursework wi ll also be developed in order to showcase an increase in the visibility of the p latform. Threats Unfortunately, there are many people who are realizing the b enefits of online teaching, which is why competition can be seen as a significant threat. Those who would like to sell personal training online can find it difficult to stand out from the competitive landscape. Also, there are some students who are not wil ling to forgo classroom -style learning because of fears that online teaching won’t deliver a high level of effectiveness. PESTEL ANALYSIS Political These are the forces that appear to be influenced by the impact of the government on the country's infras tructure. Political factors may include environmental controls, lab or rules, tariffs, tax policies, trade limits, political stability and reforms. There is a Government and political stability with a constant emphasis on the education sector in Canada. Th e government has laid various Economic controls and tariffs pertain ing to the service sector which may impact the growth of the business. Economical Eco nomic variables or forces include interest rates, inflation and economic activity, living costs, working hours, wage rates and exchange rates. The convergence of these inf luences has a longer and unavoidable effect on the organization. The economic stabili ty within Canada is at its slowest economic growth. So, the business my face difficulties because of the slow economic activity and high wages rates. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 15 | P a g e Social Culture or so cial impact on enterprises ranges from country to country. It is important to conside r these factors. Social factors include safety and health literacy, geographical disparities, population growth patterns and cultural influences. One major problem that th e business can face is lack of human interaction. As due to Covid -19 everything is on line so some students may face difficulty in communicating. Technological Technology is one of the most important ways to succeed in a globally competitive industry. In a ddition to this, globalization is driven, considerations include environmental and ec ological aspects, and resources available as well as goods. Growth in smartphones and easier access to i nternet will boost the business. As due to Covid -19 everything has become digital so easier access to internet will help in promoting the business. One disadvantage of technology is that major book publishers like Person and Cengage have started their own Websites that may impact our tutoring business. Environmental Envir onmental factors comprise all of these factors that have a permanent effect or impact , and environmental factors are most likely to be decided by the environment. Factors provide knowledge of seasonal or climate change or land variance. Environmental resea rch, both internal and external aspects, is important to the enterprise as it influen ces the efficiency of the organization. Extreme weather conditions in Canada can increase the cost of op erations and can compel S2S tutors to have a more flexible value ch ain. Legal Legal factors include certain laws and regulations that could have an eff ect on an organization's corporate activities. It also involves imminent and existing regulation which seems to have an effect on the industry in areas such as competitiveness, jobs, safety and health. S2S tutoring is subject to various Canadian regulation s on r ecords, privacy, taxes, marketing, education and quality of service also it must follow the Canadi an employee/health labour laws. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 16 | P a g e PORTER’S FIVE FORCES ANALYSIS Bargaining power of buyers In this education sector, students are the key purchasers. Stu dents have to go through an admission process to become buyers, unlike regular buyers. Business curricul um has no or little entry criteria in terms of basic skills owing to the nature of management disciplines. The power of students increases as the servic es off ered become more standardized, which allows them to compare offerings and make more informed choic es, thus lowering the switching costs more readily (Pringle & Huisman, 2011) . Customers can select from multiple manufacturing choices from different ma nufact urers. Online degrees are offered by several universities, as well as private corporations owned b y Apollo Groups, Inc. such as the University of Phoenix. There are also several options for purchasing online apps, such as those provided by Rosetta St one, t o assist with learning. Consumers of the goods in this field often tend to be the most price respo nsive since the demand comes primarily from working adults who are unable or unable to attend university on campus, as well as families, children and th eir gu ardians (Seabrook, 2011). Bargaining power of suppliers The suppliers of the online part of the ed ucation industry consists of teachers, senior students, administration, software and technology. The supplier power is strong as: - (1) it is more conce ntrated than the industry it sells to (students), (2) industry participants (students) face switching c osts in changing suppliers, (3) suppliers offer products that are differentiated, and (4) there is no substitute for what the supp lier group provides (Pringle & Huisman, 2011) . However, it is low in case of college students who see it as a part time opp ortunity and hence settle for less than market rate for education industry but more than market rate for student part time wage. Thr eat of substitutes The substitutes of online education are home schools and conventional schools. Companies offering online education have less flexibility with lowering their prices on products while remaining competitive while companies offering software and programs create d to improve study and reading skills are able to demand higher prices in exchange for their technology driven high quality interactive goods. The other possible substitute of online BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 17 | P a g e tutoring industry are the support centres created by universities for hel ping weak students to cope up with their grades through personalised attention by assistant professors . These are provided free -of -cost which may a ct as a threat to online education industry. The threat of substitutes can also rely sole ly on how the educat ional experience is perceived and interpreted. If the knowledge and socialisation that come with a conve ntional university education is perceived as a significant factor , so the threat of replacement could be minimal, provided the high barriers to entry, s uch as necessary facilities and a welcoming administrative system (Seabrook, 2011) . However, if one find s the Internet and the advent of the "digital native" to be an increasing factor and engine of higher education reform, then the pos sibility of replacem ents is incredibly high because of emerging tutoring companies like BYJU’s, Vedantu, Chegg and many more . Threat of new entrants In the context of higher education this perspective would mean increasing the student's test scores in university exams(supply ) available for students. Economies of scale refer to an institution’s ability to increase productivity by decreasing the average cost per student. It implies adding more places (increasing supply) can theoretically decrease the cost per student and, there fore, offer the same product (education) for less (tuition cost) (Pringle & Huisman, 2011). Newcomer ins titutions are unlikely to have earned a sufficient reputation and respect from industry to guarantee good sc ores in their courses ; therefore, the demand -side benefit is not realized. In addition, to make informed decisions about institutional choices, stud ents would require comparative information that is not always readily available about online tutors (Seabrook, 2011) . To sum up, one can reasonably stat e that the barriers to entry in education technology would be considered to be quite high and therefore that the threat of new entrants as one of the five forces would be considered to be relatively weak. Internal Rivalry among the f irm The online educatio n industry is strongly influenced by political, economic, social, and technological variables. These com ponents are major grounds of internal rivalry which helps to gain competitive advantage. Depending on the political party in powe r and the proximity of an election, government funding fluctuates with the economics of the moment, and political attention to higher education waxes and wanes . With a Conservative federal government and a Liberal provincial government still recovering f rom one of the worst BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 18 | P a g e recessions in history, one might argue that, in an environment of fiscal constraint, competition for alter native sources of financing would likely increase (Pringle & Huisman, 2011). For instance, BYJU’s recently got billions of dollar investment from China and Disney which has strengthened its financial holding. Further, technology is also a major influence o n the intensity of rivalry, and those institutions that have invested in using advanced technology for teaching or research have enhanced their competit ive positions (Seabrook, 2011) . However, nowadays accessibility of websites and technology has become ea sier leading to numerous competitors with equal power and resources and lack of differentiation . Hence, overall, the internal riv alry is moderate in onl ine tutoring business. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 19 | P a g e PRODUCTS AND SERVICES Description of service S2S tutors is an online tutoring p latform where university students can seek academic assistance from seniors who can act as their tutors and in return tutors can work as part -time or ev en full -time instructors to earn extra income. Tutors include senior students belonging to 3rd and 4 th year who have a good academic performance (more than 3.5 CGPA) who will be teaching 1st and 2 nd year students . The prof essional professors will be hired to teach 3 rd and 4th year students . These tutors will register themselves with S2S tutors on our officia l website. Students in need of personal tuition will fill a form giving all requirements (course to be studied) and th eir personal details (name, univer sity, year, address, etc). After this, S2S tutors will match student with tutors as per location and req uirements. The meetings can be scheduled both online and offline according to the mutual preferences of both student a nd tutor. Vision statement “To fo rmulate an ecosystem by the student and for the student” Mission statement “The mission of Tutor Doct or is to change the trajectory of students’ lives” The mission of S2S Tutors by providing academic services and resources which foster development of sk ills and attitudes necessary to increase the knowledge and academic independence of all students. Str engths Online tutoring is a lucrative full -time or part -time profession for anyone who loves to teach and guide others. This industry is developing rap idly with advent of innovations, technologies, and widespread usage of the internet amid this current pa ndemic. Our biggest strength is that t uition is pro vided by the same highly qualified and vetted tutors as regular one -to-one tuition but there are no g eographic limitations and tutors do not spend valuable time travelling to their client (as nearest tutor s are assigned). The students will be attracted to BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 20 | P a g e our business model as it will help them to earn more than regular part -time jobs with good working co nditions. Weakness One of the weakness that may hinder our business is I.T. accessibility. But this prob lem has diluted in COVID as nowadays most of the st udents own laptops and have good internet connectivit y. Unique and Competitive Advantage The unique advantage provided by S2S tutors is that t hrough one -on -one sessions, students can attain their maximum potential. Specific benefits include personalized learning, convenience, regular contact with tutor, doubt clarification, improved grades and cost - effec tive. Competitive advantage against the rivals is that student mentors also gain significant teaching ex perience i n education industry and widen their concept -horizon. Trademarks and copyright We will trademark our company logo “S2S tutors” by fil ing an ap plication with the Canadian Intellectual Property Office (CIPO ) which will cost $ 40 0. It will give us pr otection against trademark infringement for 10 years after which it will be renewed at $285. For protection of our study material published by S2S tutor s for students , we will copyright them with the Canadian Intellectual Property Office (CIPO ) which will cost $50. It will be valid till 50 years. Technology Required technology include laptops, WiFi connection, website, servers, and mobile app lication. We will be contracting an educational app development company for building and designing a multi -purpose a pp which can be used for video conferencing, study material share, conducting quizzes, accepting subscriptions, etc. It will provide a base online platf orm which will help to sync activities between tutors and students , thereby help to save funds that woul d have otherwise be needed to purchas e premium subscriptions of Zoom, Google classroom , Skype and others. The multi -purpose app will provide convenient interacti ons between the parties and share resources seamlessly. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 21 | P a g e MANAGEMENT Organization chart S2S Tutors organization chart is portrayed as follows: - S2S Tutors Partner 1: Ansh Seth Accounts & Finance Partner 2:

Myank Sood Operations Website Supplies & Material Partner 3: Jasmeen Kaur Marketing & Sales Campus ambassdors Salesperson SEO agency Partner 4:

Satwinder Kaur Human Resources Tutors Students Figure 4 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 22 | P a g e Functions and responsibilities Ansh Seth : He will be responsible for management of Accounts and f inances of the company. His job duties include preparation of financial statements as per GAAP and accou nting regulations. He will also prepare forecasted income statements and balance sheet on monthly basis. Furthermore, bank accounts and payment processi ng come under his department. Myank Sood : He will be responsible for operation management of the company ’s daily activities. His job duties include website management with collaboration of developer te am (outsourced) and getting feedback for reconciliation of website glitches. He will also look after supplies and material of each subject. Satwinder Kaur Dhil lon : She will be responsible for human resource management of the company. She will directly manage tutors and student enrolled with the firm . Furthermo re, she will look after payroll activities, performance appraisal and evaluation of them. Jasmeen Kaur : She will be responsible for marketing and sales of the company . She will ensure the online presence of the brand through campaigns and ambassador progra ms. Sh e will lead the team of 4 -5 salesperson giving them daily targets and suitable incentives. Further mor e, her duties include collaboration with SEO agency to boost keywords and backlinks to bring in business to the firm. Curricula vitae Please refer to Appendix A. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 23 | P a g e Management Compensation We have decided not to take any salary till breakeven point of the business is established. Salaries will be decided on percentage basis on excess income after paying for all expenses in later part of business. Pro posed compensation table is as follows: - Management partners Proposed monthly salary Other benefits An sh Seth $4,200 Paid leaves (2/month), insurance, Provident fund Myank Sood $4,000 Paid leaves (2/month), insurance, Provident fund Satwinder Kaur Dhil lon $3,200 Paid leaves (2/month), insuranc e, Provident fund Jasmeen Kaur $3,500 Paid leaves (2/month), insurance, Provident fund, special incentives for overachievement of target s Table 1 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 24 | P a g e MARKET RESEARCH AND ANALYSIS Market size and trends Private education is expanding massively in a variety of forms across the western world, and C anada is no exception. The proportion of Canadian students enrolled in private schools grew by 20% over the past decade, while the corresponding percent age in British Columbia was 40% . Between 2001 and 2011, the number of private schools in the province rose by 44% (Scott , 2011). A September 2018 IBISWorld report estimates the revenue for the US tutoring industry at US$8.1 billion, with an annual growth ( 2013 -2018) of 3.0% (Connor, 201 8). They go on to say that in the years to 2023, the tutoring industry i s projected to grow by 3.1% per year, compared to the GDP which is projected to grow 2.2% per year (Business Wire, 2021) . In 2015, the Canadian Tutorin g Industry was estimated at C$1 billion (Marr, 2015) . Apps , websites and programs for online tutoring is a major trend driving the growth of the market . Demographic profile In British Col umbia, Canada, t he population demographics for our target market is t he millennial generation . We wi ll be focusing on college going students in the age group 16 -30 years. As per Statistics Canada (20 16 ), total target population is 849,540 consi sting of 432,200 males and 417,345 females giving us access to 18.3% of total pop ulation of British Columbia. We found that 53.6 % with yearly income ranging above $35,000 can subscribe to our tutoring services and hence represent viable portion of BC (Statistics Canada, 2016). Purchase decision ma kers The purchase decision makers const itute of teenager’s parents (age 16 to 18) and students themselves (age 18 plus). Since, in the earlier stage of child’s education, parents usually provide funds for the initial years and afterwards they start earning themselves and hereby accommodate thei r finances. List of major competitors Since, we will be operating online through website and mobile app, our competition horizon extends beyond geographical boundaries of British Columbia to almost every province of Canada. According to market research, we have identified following competitors that have acquired significant market share in online tutoring in dustry: - BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 25 | P a g e • First Tutors: Canada • Mobile Tutors • Vnaya • Van couver tutoring • Amazing tutors • Teacheron First tutors, Mobile tutors and Vnaya are our key competi tors. However, in general they don’t h ave significant market share which is roughly scattered around 3 t o 4 percent each. First tutors : Canada have diverse range of tutors across Canada with multiple profiles for selection and target student from age grou p 4 years to postgraduate students (First tutors, n.d.) . S2S tutor’s quality of tutor selection is more refine as compared to First tutors because they choose more generic tutors and S2S focus primarily on college students rather than others. This allows m ore resources to be concen trated accordingly. Mobile tutors is an experience candidate in tutoring indu stry but is lagging behind S2S tutors in their pricing (Mobile tutors, n.d.) . We found out that they charge exorbitantly high prices that may create fin ancial difficulties. S2S t utors is made primarily by and for students themselves giving them affordable tuition classes. Vnaya provides 1-on -1 online classes with assessment pattern in 25 countries. They teach limited subjects like Math, English and Scienc e and are primarily focuse d on IELT, SATs and state level entrance examinations (Vnaya, n.d.) . Hence, no t a major competition to our chosen target market. Key Competitors: Strengths Weaknesses First tutors • a great platform for private tutors. • Thorough che cks carried out by company. All references and qualifications are checked. • Not enough work for the tutor s. • Dependant on the local demand • impossible to attract any students • company monitors all your messages • students have to pay $10 to access your detai ls BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 26 | P a g e Mobile tutors • Tutors carefully matched to each student. • All tutors are well - trained, and background checked . • Customized 1 -on -1 tutoring and test preparation. • Autocratic L eadership • Salary and appraisals are less • Salary only credited on 5 th of each month, if it’s a Sunday then salary will be credited in the next week Vnaya • work -life balance • flexible wor king conditions • Their online teaching platform was not great for maths. Another competitor: Teachron • Provides the students with demos to choose the desir ed teacher effectively • Works on coin system, so a few times spam users end up wast ing the tutors' coi ns • Many tutors reporting bugs • Students put fake numbers and do not pay the tutors , which suggests lack of monitoring by the website owners. Table 2 Marketing Advantages versus Competitors • S2S tutors will be monitoring the authentic ity of t he hired professionals as well as the students enrolling for taking the services. • As seniors itself will be the tutors , therefore they will exactly know w hat to provide the students wi th, as they have the firsthand experience of what students requi re. • Salaries will be paid on weekly basis and transferred to the bank account , therefore no delay in making the payments. (Also planning to collaborate with payment gateways ) BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 27 | P a g e MARKET ING PLAN Product S2S tutors is an online tutoring platform where universit y students can seek academic assistance from seniors who can act as their tutors and in return tutors can work as part -time or even full -time instructors t o earn extra income. Tutors include senior students belonging to 3rd and 4 th year who have a good aca demic performance (more than 3.5 CGPA) who will be teaching 1 st and 2 nd year students. The professional professors will be hired to teach 3 rd and 4th year students. These tutors will register themselves with S2S tuto rs on our official website. After this, S2S tutors will match student with tutors as per location and requirements. The meetings can be scheduled both online and offline according to the mutual preferences of both student and tutor. Classes are highly cust omisable as per student requirements , i. e., one -to-one sessions and group sessions. Price We will be implementing competition -based pricing strategy by examining the prices offered by rival firm s in order to keep up competitive and affordable pricing for our services. The average market price p er hour for online tutoring industry ranges from $70 to $100. Our prices are based on cost plus mark -up strateg y whereb y $65 total hourly -based tuition fee s are charged . This is further bifurcated as tutor’s fees ($22.50) and S2 S charges ($42.50) . Cost Ma rk -up Price $22.50 (fixed cost) $42.50 (188.5% of $22.50) $65 Table 3 The major objective of this pricing strategy is to provide tutors (who are mostly students) to earn wages of $22.50 which is above student market wage rate of $13 .40 per hour . In other words, they have capability to earn 59.5% more than regular part -time jobs. Place / Distribution Since our medium of rendering perso nalised tuition services is online via our website , therefore we don’t actually need physical distrib ution channel as required in tangible products . S2S tutors will render its services through Virtual Service Distribution. We will follow direct channel to reach potential clients rather than relying on any middlemen like agent . BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 28 | P a g e Promotion The aim of promot ional campaign is to position the service into the mind, heart, and hand of consumers . We want to categorize our brand as a mark of quality to attract enga gement. This will need investment in marketing and promotional efforts to mark our p resence in market . Our promotion mix consists of: - • Campus ambassador : We will provide internship opportunities to become our official ambassadors and sprea d awareness abou t the services and packages offered by S2S tutors. • Search engine optimization : We will hire SEO agenc y to boost our ratings , backlinks and develop keywords to hike the organic growth of the website. • Digital marketing : Digital media sites like Facebook, Twi tter , Instagram, LinkedIn, and others will be collaborated with t o mark our social presence . • Referral / Word of mouth marketing : This comprises of a referral program whereby candidates need to bring in referrals and for every referral they will earn S2S cre dits which can be redeemed in form of discounted classes. For exa mple, 1 referral = 5 S2S points and 20 S2S points = 5% discount on hourly fees. • Group discount : Those who enroll in groups (atleast 5) will be given extra 10% discount for ea ch student’s hour ly rate. • Salesperson (Door -to-Door): For the initial months, we will be hiring 4 -5 salesperson for gr oundwork to attract clients (students as well as tutors) to collaborate with S2S tutors. The allocated budget of $ 1,5 00 for the promotion mix is as follows : - Promotion strategy Per hour Total expected cost SEO agency $50 per hour The usage of SEO agency will depend on the requirement . (roughly 4 -5 hours per week) Campus ambassador stipend (internship) $4 per referral We are planning to employ 1 campus amb assador for each university in BC. Digital marketing $7.19 per 1000 impressions X 48 = $ 345 48,000 i mpressions per month Table 4 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 29 | P a g e Market Segmentation S2S Tutors is targeting the province of British Col umbia . The targeted market segme ntation on the basis of cities of BC are as follows: - City Market Segmentation (%) Marketing budget allocation ($) Vancouver 30% $8,370 Abbotsford 25% $6,975 Surrey 28% $7,8 12 Burnaby 10% $2,790 Victoria 7% $1,953 TOTAL 100% $ 27,900 (refer to Finan cials) Selling policies Credit terms : S2S tutors will be given salary on weekly basis through onlin e bank transfer . We are also planning to provide following cost -saving packages for increased duration: - Duration 1 hour 6 hours 12 hours 40 hours Discou nted rate $65 $375 $720 $2,200 Discount - $15 off $60 off $400 off Hourly rate $65 $62.50 $60 $55 Payment terms Lumpsum Lumpsum Lumpsum 2 instalments Table 5 Campus ambassador commission : This is the internship program which will provide opportunities to university students to earn internship certificate and referral commission. We have fixed this commission as $ 4 per referral. There would be 1 campus ambassador for each university in Brit ish Columbia. Salesperson salary + commissi on : For the initial months, we will be hiring 4-5 salesperson for groundwork to attract clients (stud ents as well as tutors ) to collaborate with S2S tutors. The ir salary structure is: - Fixed salary Variable salary Total salary (20 clients/month) $2,000 / month $10/ client $2,200 Table 6 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 30 | P a g e Service policies The terms and conditions of S2S tutors related to complain ts and service problems are as follo ws: - For students : - • Cancellation & Refund policy: There will be deduction of 30% if a p ackage as mentioned above is cancelled. The refund will be reimbursed through the initial mode of pay ment. • Confidentiality and Intellectual Property : All the intellectual proper ty rights an d copyright like study material and test papers are s ubject to lega l consequences if circulated in public . • Complaint : Student can rate the tutors and file complaints if unsatisfied with the quality of teaching or behavior of teacher. • Privacy: Student are not allowed to share their personal details other than name with tu tors. For tutors: - • Cancellation penalty : If a tutor cancels a pre -booked class, following charges will borne by tutor: - Cancellation time Penalty Before 48 hours No charges Between 48 hours and 24 hours $5 Less than 24 hours $10 Table 7 • Student Com plaints and ratings : Each student will rate the tutor after class, and this wi ll become the basis for tutor’s performance appraisal. Further positive or nega tive action will depend on this performance appraisal. • Termination : S2S tuto rs may terminate the independent contractor relationship contemplated by th e Agreement termination (for reasons like student complaints and others) upon payment only for any outstanding and unpaid earned Fees (net of any Penalty Costs) and you agree that n o additional advance notice or fees in lieu of notice are required in the event of such terminatio n. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 31 | P a g e • Privacy : Tutors will be connected to student using S2S online website and it will be the only mode of communication between them. Tutors are not allowed to ask for any other details. Expansion Plan In the initial stages of operations, S2S Tutors will be co ncentrated entirely i n British Columbia. After reaching the saturation point in BC, we are planning to expand the operation in Ontario , Quebec, Nova Scotia , Alberta and to other provinces of Canada. Marketing team lead by Jasmeen will create conn ections wi th universities of other provinces to create brand awareness in new segment. Hence, if the market analysis report shows positive growth opportunity, the bu siness will be expanded by creating a new branch in the province. When the national market is covered , we will be targeting the neighbouring country USA which has massive education industry and have greater to access to international students. Afterwards, S2S Tutors will explore fresh opportunities to increase its scalability in English speaking countries like United Kingdom, India (with 3.74 crores college students), New Zealand and Australia (ThePrint, 2020). The expansion will be financ ed through retaine d earnings set aside in each profitable year and bank loan if required. Other options that may be con sidered include angel investors, venture capitalists, strategic partnerships (with universities) and IPO. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 32 | P a g e LAND , BUILDING & EQUIPMENT Since, we will be op erating the business online from our home. Each partner will be using their personal laptops and inte rnet connection. Therefore, we will not need physical office or building to operate the business. The main equipment of the tutoring business is website related capital investment . Furthermore, the business will collaborate with payment gateway compan y Pa yPal for all monetary transaction of online nature . The cost of payment gateway integration is 2.70% per transaction. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 33 | P a g e OPERATIONS S2S tutors is a private t utoring service rendering o rganisation which will operate fully online through its official website i n the province of British Columbia . Our operational objective is to connect students with best -suited tutors through customized client match algorithm on o ur website . Workflow The f ollowing diagram depicts our workflow : - Figure 5 Meeting Link S2S tutors will create an online meeting room as decided Scheduling meeting Tutor and student uses S2S online chat to finalise a common meeting spot Tutor availability check Team connect with tutor and share details to connect with student S2S tutor match Computer algorithm matches tutors and students to provide best match Payment Student pay for the hour plan purchased Student Registration Student sign -up through form and specify his requirements BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 34 | P a g e Supplies and material Our major supplies and material include study material, test papers, and online pdfs . We will spend on purchase of test banks and pdfs to be provided to tutors for framing examination materials. This will be edited under the banner of S2S tutors which will be our intellectual property right. The expected cost (fixed) structure is as follows : - Supplies and material Fixed (entire busi ness lifespan) Test banks $150 Online pdfs $300 Other study material $100 Total $550 Table 8 Personnel plan Campus ambassador commission : This is the internship program which will provide opportunities to university students to earn internship certificate and referral commission. We have fixed this commission as $4 per referra l. There would be 1 campus ambassador for each university in British Columbia. Salesperson salary + commissi on : For the initial months, we will be hiring 4 -5 salesperson for groundwork to attract clients (students as well as tutors) to collaborate with S2S tutors. Their salary structure is: - Fixed salary Variable salary Total salary (20 clients/month) $2,000/ month $10/ client $2,200 Table 9 Management cost : We have decided not to take any salary till breakeven point of the busines s is established. Salaries will be decided on percentage basis on excess income afte r paying for all expenses in later part of business. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 35 | P a g e PROFESSIONAL REF ERENCES We have long -term relationship with ICICI bank which operates both in India and Canada . Since all our partners have long -standing savings accounts with ICICI, therefore we are w ell -versed with the banking services and its credit policies. Also, som e of the partners have borrowing history with the bank , thereby increasing credit score which ease th e process of sanctioning a loan (if required in future). Professional lawyers may be required in some business situations. For that, we have some contacts with lawyers who can provide legal consultancy services. S2S tutors will be insured by CDIC through ICICI Bank Canada. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 36 | P a g e FINANCIAL PLAN Start -up costs Pro -forma Income Statement (refer to Appendix B, C, D ) Ite ms Hours Hourly rate Fund re quire d We bs ite e xpe ns e s :

Technical implementation 40-55 27.27 $ 1,500.00 $ UI and UX design 350 57.14 $ 20,000.00 $ Front and Back-end process 450 33.33 $ 15,000.00 $ Testing 80 31.25 $ 2,500.00 $ SEO agency 192 50.00 $ 9,600.00 $ TOTAL 48,600.00 $ Ite ms No. of months Monthly rate Fund re quire d Digital marketing 3 345.00 $ 1,035.00 $ Campus ambassdor stipends 3 155.00 $ 465.00 $ Salesperson salaries 3 8,800.00 $ 26,400.00 $ Management compensation 3 0 0 TOTAL 27,900.00 $ As s e t cre ation Cos t Supplies & materials 550.00 $ Trademark & Copyright 450.00 $ TOTAL 1,000.00 $ Total one-time cash requirements 77,500.00 $ Financing Amount Equity (owners) 40,000.00 $ Debt (Loan -13.50%) 37,500.00 $ 77,500.00 $ Re ve nue : Ye ar 1 Ye ar 2 Ye ar 3 Ye ar 4 Ye ar 5 Service revenue 184,860.00 $ 203,346.00 $ 223,680.00 $ 268,416.00 $ 322,100.00 $ Total revenue 184,860.00 $ 203,346.00 $ 223,680.00 $ 268,416.00 $ 322,100.00 $ Expenses:

SEO agency 9,600.00 $ 9,600.00 $ 9,600.00 $ 9,600.00 $ 9,600.00 $ Digital marketing 4,140.00 $ 4,140.00 $ 4,140.00 $ 4,140.00 $ 4,140.00 $ Campus ambassdor stipends 1,860.00 $ 1,860.00 $ 1,860.00 $ 1,860.00 $ 1,860.00 $ Salesperson salaries 105,600.00 $ 105,600.00 $ 105,600.00 $ 105,600.00 $ 105,600.00 $ Tutor salaries 72,540.00 $ 79,784.00 $ 87,762.00 $ 105,314.00 $ 126,377.00 $ Management compensation - $ - $ - $ 20,000.00 $ 20,000.00 $ Interest expenses 5,062.50 $ 5,062.50 $ 5,062.50 $ 5,062.50 $ 5,062.50 $ Website maintenance expenses 720.00 $ 720.00 $ 720.00 $ 720.00 $ 720.00 $ Total expenses 199,522.50 $ 206,766.50 $ 214,744.50 $ 252,296.50 $ 273,359.50 $ Ne t income (14,662.50) $ (3,420.50) $ 8,935.50 $ 16,119.50 $ 48,740.50 $ BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 37 | P a g e Cash flow projections Pro -for ma Balance Sheet Particulars Ye ar 1 Ye ar 2 Ye ar 3 Ye ar 4 Ye ar 5 Cas h flow from ope rating activitie s Cash receieved from service revenue 184,860.00 $ 203,346.00 $ 223,680.00 $ 268,416.00 $ 322,100.00 $ Cash paid to tutors (72,540.00) $ (79,784.00) $ (87,762.00) $ (105,314.00) $ (126,377.00) $ Interest expense paid (5,062.50) $ (5,062.50) $ (5,062.50) $ (5,062.50) $ (5,062.50) $ Salesperson salaries paid (105,600.00) $ (105,600.00) $ (105,600.00) $ (105,600.00) $ (105,600.00) $ Payment of management salaries - $ - $ - $ (20,000.00) $ (20,000.00) $ Payment of stipends (1,860.00) $ (1,860.00) $ (1,860.00) $ (1,860.00) $ (1,860.00) $ Payment to SEO agency (9,600.00) $ (9,600.00) $ (9,600.00) $ (9,600.00) $ (9,600.00) $ Payment for digital marketing (4,140.00) $ (4,140.00) $ (4,140.00) $ (4,140.00) $ (4,140.00) $ Cas h flow from inve s ting activitie s Investment in website development (39,000.00) $ - $ - $ - $ - $ Purchase of trademark & copyright (450.00) $ - $ - $ - $ - $ Purchase of supplies & material (550.00) $ - $ - $ - $ - $ Cas h flow from financing activitie s Acquisition of loan 37,500.00 $ - $ - $ - $ - $ Repayment of loan - $ - $ - $ - $ (37,500.00) $ Total cash increase/decrease (16,442.50) $ (2,700.50) $ 9,655.50 $ 16,839.50 $ 11,960.50 $ Cash in beginning 40,000.00 $ 23,557.50 $ 20,857.00 $ 30,512.50 $ 47,352.00 $ Cas h in e nd 23,557.50 $ 20,857.00 $ 30,512.50 $ 47,352.00 $ 59,312.50 $ Particulars Ye ar 1 Ye ar 2 Ye ar 3 Ye ar 4 Ye ar 5 As s e ts :

Curre nt As s e ts :

Cash-in-hand 23,557.50 $ 20,857.00 $ 30,512.50 $ 47,352.00 $ 59,312.50 $ Fixe d As s e ts :

Trademark & Copyright 450.00 $ 450.00 $ 450.00 $ 450.00 $ 450.00 $ Supplies & materials 550.00 $ 550.00 $ 550.00 $ 550.00 $ 550.00 $ Website 39,000.00 $ 39,000.00 $ 39,000.00 $ 39,000.00 $ 39,000.00 $ Goodwill (adjusting figure) 4,342.50 $ 18,285.00 $ 20,986.00 $ 11,330.00 $ (10,572.00) $ TOTAL ASSETS 67,900.00 $ 79,142.00 $ 91,498.50 $ 98,682.00 $ 88,740.50 $ Total Liabilite s & Owne r's e quity:

Curre nt Liabilitie s Interest payable 5,062.50 $ 5,062.50 $ 5,062.50 $ 5,062.50 $ - $ Non-curre nt Liabilitie s Loan from ICICI 37,500.00 $ 37,500.00 $ 37,500.00 $ 37,500.00 $ - $ TOTAL LIAB ILITIES 42,562.50 $ 42,562.50 $ 42,562.50 $ 42,562.50 $ - $ Share holde r's e quity Ansh Seth 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ Myank Sood 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ Jasmeen Kaur 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ Satwinder Kaur Dhillion 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ Retained Earnings (14,662.50) $ (3,420.50) $ 8,935.50 $ 16,119.50 $ 48,740.50 $ TOTAL OWNER'S EQUITY 25,337.50 $ 36,579.50 $ 48,935.50 $ 56,119.50 $ 88,740.50 $ TOTAL LIAB ILITIES & OWNER' EQUITY 110,462.50 $ 121,704.50$ 134,060.50 $ 141,244.50$ 88,740.50 $ BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 38 | P a g e Break -even point Financial Ratio A nalysis -2 0 2 4 6 8 10 Year 1 Year 2 Year 3 Year 4 Year 5 Financial Ratio Analysis Current Ratio Quick Ratio Total Asset Turnover Debt Ratio Long term debt to owner's equity Return on sales Return on total assets Return on equity Figure 6 Sales revenue per subscription 65.00 $ Variable expenses per subscription 22.50 $ Contribution margin per subscription 42.50 $ Contribution ratio 0.65 $ Fixed expenses 126,982.50 $ B re ak-e ve n point (in s ubs criptions ) 2988 B re ak-e ve n point (in dollars ) 194,208.53 $ Ratios Ye ar 1 Ye ar 2 Ye ar 3 Ye ar 4 Ye ar 5 Current Ratio 4.65 4.12 6.03 9.35 - Quick Ratio 4.65 4.12 6.03 9.35 - Total Asset Turnover 2.72 2.57 2.44 2.72 3.63 Debt Ratio 0.63 0.54 0.47 0.43 0.00 Long term debt to owner's equity 1.48 1.03 0.77 0.67 0.00 Return on sales -0.08 -0.02 0.04 0.06 0.15 Return on total assets -0.22 -0.04 0.10 0.16 0.55 Return on equity -0.58 -0.09 0.18 0.29 0.55 Return on Investment -0.37 -0.09 0.22 0.40 1.22 BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 39 | P a g e Loan Proposal As per our estimat ions of start -up costs, we will need $77,500 to commence the business. Financing for this is divided into equity and debt. Each part ner as stated earlier w ill contribute $10,000, thereby totalling equity to $40 ,000 . Remaining funds will be financed through a bank loan (from ICICI) of $37,500 @ 13.50% p.a. This will be taken in 1 st year and is expected to be discharged in full by 5 th year. In order to take the loan from the bank, all the partners have agreed to keep “Gold” as a collateral of the equal amount of secur ity required by the bank. This is done to distribute the risk among all the partners equally. RISKS AND PROBLEMS One of the prominent risks linke d with the business is the potential failure to attract sufficient clients to cover our investment . F urther r isks may include attracting qualified tutor to register with S2S Tutors. Th e absence of adequate human resources (tutors) may impact on the goodwil l and daily operations of the business. On the financial front, this may pose barriers to repay debts and monetary obligations. Problems that may hinder business operations comprises of poor connection between tutor and student , and technical problems like website lagging, shutdown, failure , etc. Other critical issues are lack of practical pro grams . Some progr ams are well comprehended if taught with both theoretical and practical lessons altogether. This can hardly be achieved through online tutoring which therefore inhibits exploitation of the full students’ potential thus degrading the level and amount o f kno wledge gained through online tutoring. Worst case scenarios S2S tutors may face the negative effect o f cut -throat competition in this industry. There are well established brands who already enjoying a good amount of market share like MobileTutors, Vna ya, F irst tutors . They also have well -setup website and better infrastructure along with retained customer base. If competition rises at such pace, then th e market share will be divided leading to lower profits. If due to pandemic or any other economic bre akdow n, the demand for services fell , our break -even point will shift further, and cash flow will be impacted. In such worst circumstances, we have prepare d a contingency reserve BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 40 | P a g e which will give up run -through of 9 months . If this reserve is also used up, we wi ll look -up for angel investors (by giving ownership up to 45%) and debt financing. Avoidance of risks We cannot control dynamic business environment l ike pandemic, economic breakdown and act of god. However, we can combat the stiff competition by cont inuous marketing of our brand, maintaining good relationship with universities and clients, and heavily investing in infrastructure (website and services) . Lastly, customer retention will be g iven u tmost priority to get repeated sales while simultaneously attracting new ones on monthly target basis. Impact of risks Unforeseen risks like pandemic, economic breakdown and act of god will impact our finances and will shoot up our overhead and opera ting costs. This will create budget deficit and create significa nt variance between actual and budget ed finances. Because of disturbance in accounts and finances, other dependent functions like marketing, tutor payroll, SEO fees, maintenance of website exp enses, etc wi ll deviate from the set -ones. BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 41 | P a g e APPENDIX Appendix A: Curricula vitae Myank Sood : BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 42 | P a g e Ansh Seth : BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 43 | P a g e Jasmeen Kaur : Jasmeen Kaur TERTIARY EDUCATION BBA (2020 -2023) Dean’s List Recognition (Winter 2021) Dean’s List Recognition (Summer 2021) Academic Excellence Award (for academic performance in 1st year) Dean’s List Recognition (Fall 2021) Current CGPA: 4.05 Education Blossoms Convent School, Jagraon; Ludhiana 12th (2018 -2019) Non -Medical stream 86.4% Skills and abilities Problem Solving Flexibility Communication Teamwork Creativity Attention to Detail Writing Mathematiccs Punjab {Moga, 142058} +91 9888667026 [email protected] [email protected] Languages English French Hindi Punjabi BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 44 | P a g e Satwinder Kaur Dhillon : BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 45 | P a g e Appendix B: Forecasted service revenue (Year 1) Table 10 Appendix C: Forecasted service revenue (Year 2 -5) Table 11 Appendi x D: Forecasted tutor salary (Year 1) Table 12 Package Price Weekly subscriptions Yearly subscriptions Yearly collections 1 hour 65 4 208 13,520.00 $ 6 hours 375 1 52 19,500.00 $ 12 hours 720 1 52 37,440.00 $ 40 hours 2200 1 52 114,400.00 $ TOTAL 364 184,860.00 $ Ye ars % incre as e Year 2 0.1 Year 3 0.1 Year 4 0.2 Year 5 0.2 Fore cas te d s e rvice re ve nue 203,346.00 $ 223,680.60 $ 268,416.72 $ 322,100.06 $ Total hours Tutor hourly rate Yearly Tutor salary 208 22.50 $ 4,680.00 $ 312 22.50 $ 7,020.00 $ 624 22.50 $ 14,040.00 $ 2080 22.50 $ 46,800.00 $ 72,540.00 $ BUS 227 : NEW BUSINESS DEVELOPMENT S2S TUTORS 46 | P a g e R EFERENCES Claire O’Connor, IBISWorld Industry Report 61169, Tutor ing & Driving Schools in the US, September 2018. Retrieved March 04, 2021 from https://www.businesswi re.com/news/home/20201113005049/en/The -Online - Tutoring -Market -to-Grow -by -132.21 -bn -During -2020 -2024 -Industry -Analysis - Market -Trends -Opportunities -and -Forec ast -Technavio Davies, Scott. 20 11. “The Rise of For -Profit Education: The Case of Private Tutoring Businesses.” Paper presented to the Department of Sociology, University of Toronto. Retrieved March 04, 2021 from https://nall.oise.utoronto.ca/res/65ScottD avies.pdf First Tutors. (n.d.). Official website . Retrieved March 04, 2021 from https://www.firsttuto rs.com/canada/ Garry Marr, Financial Post Business, Get ready to fork over $1B Canada, School is back and so is t utoring, September 4, 2015 . 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