Report On The Market Of Philadelphia

Added on -2020-02-05

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BUSINESS PLAN –
INDUSTRY ANALYSIS
TABLE OF CONTENTS
Industry Review...............................................................................................................................1
Regulation Review and Legal Concerns..........................................................................................1
Competitive Analysis.......................................................................................................................2
SWOT Analysis...............................................................................................................................3
REFERENCES................................................................................................................................4
Industry Review
The market of Philadelphia comprises of variety of after school programs which have
been encouraging social, academic as well as recreational activities among the young children.
With the assistance of these programs the children have been made available with varied
opportunities for development of their skills and knowledge in respect to different subjects. It has
been widely accepted by the people of Philadelphia that enhancement of these activities is a
necessity and plays an instrumental role in determining the ultimate success of a child. The
quality of services being provided by these after school services is considered as highly
satisfactory which can also be supported by the fact that about 93% parents of the region have
shown their satisfaction for these programmes (Statistics for Public Policy, 2016). In result of the
increasing demand of these programmes, an entire industry has been developed which functions
to take care of children and enhance their potential in the best manner possible. If specifically the
section of STEM is focused upon, it has been observed that various entities have indulged in
provision of these services. A high quality services are expected to provided at these centre
particularly because their focus is only on K-12 children. This requires them to provide services
which are high in quality and is capable enough to ensure enhancement in performance of
students.
In the past 5 years it has been observed that the industry has been struggling to effectively
deal with an increasing unemployment rate, which has reduced the overall capacity of people to
spend. However, it has been noticed that despite harsh conditions and the aggregate number of
students joining these programmes has increased with a significant number. Moreover, the
funding conditions were also not favourable in the past some time which has led many entities to
minimize their activities or even shut down. But what has remained constant is the increasing
demand which is becoming strong day after day. It is estimated that in the coming 5 years the
funding sources shall be developed and the employment rate shall also show some positive
trends, which shall provide extreme support for development of the entire industry.
Regulation Review and Legal Concerns
For setting up a business to provide after school programme, the concerned entity is
required to register its business and acquire Commercial Activity License. It is important to note
that this license can be acquired after ascertainment of business type and attainment of a tax
1

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