Enterprise and Entrepreneurship Business Plan for Freedom of Knowledge

This business plan outlines the strategy for Freedom of Knowledge, an online tutoring venture based in the UK, focusing on GCSE preparation. The plan details market research, including the growing demand for online tutoring and competitive analysis, highlighting the company's niche in providing accessible and affordable services. It covers the owner's entrepreneurial competencies, objectives, and market analysis using PESTEL factors. The product focuses on coordinated coaching, GCSE test preparation, and online resources. Marketing strategies include market segmentation, targeting secondary school and GCSE students, and positioning. The plan includes sales forecasts, financial projections, and an assessment of strengths and risks. The business aims to provide quality education through innovative teaching methods, offering subjects like English, Maths, Science, Business, Finance and Accounting. The plan emphasizes the importance of qualified tutors and personalized attention to meet individual student needs, aiming to become a market leader in the Hackney area.

Arden University
Business and Management
Enterprise and Entrepreneurship Assignment
Enterprise and Entrepreneurship
STU56459
Dr Chuma Osuchukwu
2500
Contents

1.0 Executive Summary........................................................................................3
2.0 The Business...................................................................................................3
2.1 Market Research.................................................................................................................3
3.0 Owner and teams’ entrepreneurial competences.........................................4
3.1 Entrepreneurship and Market Expertise...................................................................4
4.0 Objectives.......................................................................................................4
5.0 The Market: PESTEL factors of Online tutoring..............................................5
6.0 Competition....................................................................................................5
7.0 The product.....................................................................................................6
8.0 Marketing the business: Segmentation, Targeting & Positioning..................6
9.0 Sales and operations:......................................................................................7
10.0 Sales Forecast:..............................................................................................8
11.0 Financial Projections.....................................................................................9
11.1 Profit and Loss.................................................................................................................10
12.0 Strengths and Risks of Freedom of Knowledge..........................................10
13.0 Closing summary.........................................................................................11
Appendix.............................................................................................................12
References;.........................................................................................................16
Enterprise and Entrepreneurship Business Plan
1.0 Executive Summary
This plan is an approach to web-based learning venture that offers coaching administrations to
understudies and pupil that are in the GCSE preparation process. This association is starting at a sole
proprietorship. This arrangement is an inward record for helping the proprietor to build up this

mentoring business. Web based coaching administration has distinguished various market fragments
to be focused by the venture. The proprietor has a family-based association with the teachers in the
field of business and will have the option to get referrals from these educators. As far as
administrations, a wide scope of scholarly subjects will be offered by the organization.
There will be gathered sessions for motivations behind coaching. There will be video tutorials on the
online platform which enables students to learn visually. Additionally, there will be a serious
individual help regards to the lessons however understudies will have to email the tutor with the
questions having a limit of 5 and wait for a response in 24 – 48 hours. However, gathering sessions
will be founded in the group approach. The past papers will be widely utilized as a piece of a
significant showing material and get understudies ready for the tests. The administration will be
going by the proprietor. The proprietor gets the abundance of scholastic greatness and the
mentoring knowledge picked up from the long periods of instructing and consultancy. The owner has
trained business courses for quite a while. The organization will have the option to understand its
objectives and targets on the grounds that the entrepreneur is involved and skill, a solid systems and
associations with teachers and low start-up expenses.
2.0 The Business
Freedom of Knowledge is a mentoring organization situated as online learning and is based in the UK
that was founded in 2019. The business will be financed by the proprietor and social capital of
friends and family also some expenses will be financially supported by the government grant that is
provided for start-up businesses. The online mentoring industry in the UK is presently encountering
a relentless development, with individuals paying a lot for every hour to verify the administrations of
a scholastically qualified tutor. Be that as it may, this organization is centred more around making a
business opportunity for individuals that can't stand to pay high amounts of money for a private
tutor.
2.1 Market Research
The extent of understudies obtaining private or home educational lecture has expanded by over 30%
throughout the most recent decade. In London, the figures are reliably higher, with 34% of
understudies getting private or home educational cost in 2005, ascending to 44% in 2016. The
examination demonstrates 52% of those understudies expressed that the fundamental explanation
was to plan for an important test. More learners are moving over to mentoring sites like Freedom of
Knowledge, which enable understudies to interface with qualified coaches for all subjects. The
internet coaching stages offer both more noteworthy adaptability and progressively focused
evaluating for both understudy and educator.
3.0 Owner and teams’ entrepreneurial competences
It is a business participating with experienced tutors to give the knowledge of freedom and gain
strength and benefit from education. All mentors had various involvement in being the student to

private coaches and private guides themselves, and along these lines have worked together to use
the joined abilities to perform in this industry. The proprietor and the group of master tutors are all
originated from Europe, where they previously understood being instructed by a private coach and
being a mentor themselves. They have all felt that for a portion of the complex subjects, for
example, higher science and different subjects necessitated that the pupils have an extraordinary
comprehension outside of a lecture room. So, they understood that there is a developing interest for
such close to online coaching in the UK.
3.1 Entrepreneurship and Market Expertise
The owner of the business is a lifestyle entrepreneur which gives the opportunity to fit the business
in to the lifestyle and still gain progress and finance. The advantages given with being a lifestyle
entrepreneur would be that it empowers to manufacture the business to suit their own and expert
lives. They can gain comfort and flexibility with their business and add to society in person and
through utilizing new tutors.
As recognized by (Timmons,1994) there are four fundamental attributes that a business
entrepreneur ought to have and these are high vitality combined with enthusiastic steadiness,
creative and imaginative steadiness, conceptual capacity and vision joined with an ability to motivate
which many of our educators including the proprietor have which is an extraordinary lead for the
business. The business is a niche market which means lower challenge, fine focal point on focusing
on specific clients, it develops master aptitude and learning which prompts market expertise. Also,
overall revenues are frequently higher, and clients will in general be increasingly devoted because of
the extent service given.
4.0 Objectives
The organization has plans to make communication easier via technology. The mission of the
organization is that it would approach instructing in an imaginative and extraordinary path with
making the students understand the subject easier so they can handle it better. The accomplishment
of the organization lays on the achievement of the students.
SMART Goals Achievement of Time
Get support from secondary schools in Hackney January 2020
The primary objective is to be the market head
in mentoring administration in Hackney
September 2020
To gain students all around London January 2021
The eager is to increase the income of the
organization
December 2021
Build a solid existence and awareness in public April 2020
5.0 The Market: PESTEL factors of Online tutoring
Political: In certain nations access to the web is confined. This makes giving a web-based learning
background essentially progressively troublesome, since the learning materials must be facilitated in

the fitting nation and must meet neighbourhood guidelines. A few purviews have progressively
explicit web guidelines, which extensively license online instruction, yet forbid the circulation of
specific materials, for example, maps and books.
Economic: Online tutoring is a moderate option in contrast to normal lecturing, since it doesn't
require the live nearness of lecturers. Additionally, it's unbelievably simple to convey computerized
materials, since there is zero assembling or sending cost to represent from duplicate to duplicate.
However, there is a relatively high upfront fee related with web-based learning. This is on the
grounds that each understudy needs access to a computer to devour provided materials.
Social: Although, being an amazingly proficient approach to learn, online training has the drawback
of lessening human association. The individuals who gain education from behind a computerised
device lose human connection, which likely assumes a significant job in social improvement and
psychological wellness.
Technological: A noteworthy technological obstruction to online instruction is web availability.
Regardless of whether individuals have authoritative electronic gadget to expend advanced
instructive materials, they should have the option to get to those materials by means of the web.
Absence of web access can avoid the rise of online training.
Legal: Successful web based taking in requires critical participation from instructive distributers, who
frequently have severe guidelines on how their learning materials can be appropriated. For instance,
practically all conventional reading material can't be shared online. Accordingly, instructive suppliers
would need to utilize the assets of expert, online-accommodating distributers and so forth.
Environmental: From an ecological point of view, online training unquestionably requires the power
to control a huge number of gadgets for longer times of the day. Nonetheless, recall that running
physical schools utilizes vitality as well, particularly in electricity and warming establishment.
However, a move to web-based learning would unquestionably be the diminished measure of paper
waste because of advanced learning materials.
In conclusion, web-based learning has a great deal of potential. It can alter the form we learn by
giving reasonable, great training to individuals in each territory of the UK, while conceivably
decreasing the ecological effect of tutoring.
6.0 Competition
The administrations offered by the organization are separated from contenders by the quality given
by the association. The lecturers are fun, intriguing yet engaged. In addition, their customized
consideration centres around the needs of individual students.
Tutors comprehend that various individuals learn in various manners, so classes are educated on
different levels. Optical guides are utilized at whatever point conceivable to arrive at the individuals

who adapt outwardly with Skype sessions when required. Lessons are also recorded through audio
to enable students to adapt adequately. There is a competitor for Freedom of Knowledge named
fleet tutors and although they provide similar services and have an office in London, they are mainly
based outside of London therefore there is no service for the borough of Hackney or near boroughs
which gives our organisation an opportunity to gain success in those areas and meet the objectives.
Also, the competitor has a lot of entry requirements in order to accept the student however as
Freedom of Knowledge we believe every child is unique in their own way and have equal rights
therefore we accept everyone who wants to learn and step forward in education with no
requirements including children with disabilities and special needs. As the company we are willing to
see autistic doctors, dyslexic lawyers etc.
7.0 The product
The benefits given to the understudies will include coordinated coaching, GCSE test arrangement
and online resources along with end of year assessment to see the improvement of the student. The
organization would preferably advance group class sessions to help learners. Private sessions can be
considered as being engaged and concentrated, group class session prepare for solid discussion and
talk. The way toward educating would be founded on observations from different accomplices and
input from the understudies. The subjects wherein the organization offers private mentoring
incorporate English, Maths and Science along with Business, Finance and Accounting. To make sure
learners attend each lesson the payment will be taken in advance.
8.0 Marketing the business: Segmentation, Targeting &
Positioning
According to (MSG,2019) Market segmentation is a promoting idea which partitions the total market
set up into littler subsets involving buyers with a comparative thought, request and inclination. A
target market alludes to a gathering of potential clients that an organization sells its items and
administrations to.
The objective market of Freedom of Knowledge organization can be extensively grouped into two
fragments
o Secondary school understudies: Students in this classification can get mentoring in Science,
Mathematics and English as they are the compulsory subjects being examined the most
alongside being the main subjects detected in a CV.
o GCSE pupils: The subjects that will be secured will incorporate Business, Accounting, Finance
alongside the compulsory subjects as expressed previously.

The organisations first target gathering involves the understudies who are concentrating in
secondary schools. Every individual discovers various subjects difficult and frequently, learners are
absent from school because health issues, problems with families or different commitment. Our
coaching administration will be the ideal for these learners to close the gap in their education.
This gathering involves the understudies who are going to move on from secondary schools and who
are going to do their GCSE tests. Additionally, these understudies are attempting to tie down a good
place at a high standard six form/college.
This gathering won't just be given a theoretical review of specific courses yet will likewise be
exposed to normal mock exams. This gathering will contribute the greatest portion of the
organisation’s income and revenue.
As stated by (Lauren, 2019) Positioning is an advertising idea that frameworks what a business ought
to do to showcase its item or administration to its clients. This is made using advancement, value,
location and service.
As written by (Gregory,2019) The USP is an explanation that compactly diagrams on how the
administration is not the same as the business rivals. The USP of the organization will be the extent
service we provide for learners at a very affordable and sensible cost. It has been seen that the
normal value run for mentors in London is approximately £15-£20 every hour therefore our pricing
will be £10 per hour.
9.0 Sales and operations:
Increment of sales for the most part originate from verbal or another word for that would be “Word
of Mouth”. At the point when new understudies join the new tutoring school, the old students
enlighten them concerning the services accessible. So past customers give the vast majority of the
promoting to the organization.
This organisation will create and keep up tributes of past understudy customers for demonstrating
exactly how supportive the web-based coaching has been to the understudies. This association will
offer the first session at no expense. This session is to furnish qualified leads with a chance to
encounter the coaching stage and view for themselves how powerful the administration can be. This
business occasion will have the option to change over numerous potential clients into paying clients,
individuals that conceivably would not have even viewed as a coaching administration, not already
perceiving their very own requirement for such an assistance. After the free session numerous
individuals will be changed over into clients. The business procedure will likewise stress the capacity
for understudies to make private gatherings for mentoring. By shaping a gathering, the understudies
pay less per individual which prompts increased sales for the organization.

10.0 Sales Forecast:
As reported by (Susan Ward,2019) The business sales forecast is created to foresee sales in the
future in a preservationist way. It is normal that sales will steadily increment as more understudies
are served and the organization gets more tributes.
Year 1 Year 2 Year 3 Year 4 Year 5
Hackney London England England &
Scotland UK
0
200000
400000
600000
800000
1000000
1200000
Expected sales

11.0 Financial Projections
Year 1
Year 2
Year 3
Year 4
Year 5
-£2,000,000.00 £0.00 £2,000,000.00 £4,000,000.00 £6,000,000.00 £8,000,000.00 £10,000,000.00 £12,000,000.00
£28,460.00
£139,500.00
£709,500.00
£1,477,500.00
£2,757,500.00
£12,000.00
£286,800.00
£4,767,994.00
£5,197,748.05
£5,642,912.00
-£16,460.00
£147,300.00
£4,058,494.00
£3,720,248.05
£2,885,412.00
Yearly Revenue
Cost After Tax Profit/Loss
Number of Students
Hackney 1500
London 47800
England 866908
England & Scotland 945045
UK 1025984

11.1 Profit and Loss
Profit/Loss-£16,460.00
£147,300.00
£4,058,494.00 £3,720,248.05
£2,885,412.00
yearly Profit / loss
Year 1 Year 2 Year 3 Year 4 Year 5
January
Febuary
March
April
May
June
July
August
September
October
November
December
-£2,500.00
-£2,000.00
-£1,500.00
-£1,000.00
-£500.00
£0.00
£500.00
£1,000.00
£1,500.00
MONTHLY PROFIT/LOSS
Profit / Loss
12.0 Strengths and Risks of Freedom of Knowledge
Online tuition is given by indistinguishable exceptionally qualified lecturers from normal balanced
lectures yet there are no geographic constraints and tutors do not invest important energy making a
trip to their customer. Another strength would be that students are progressively utilizing web-
based learning inside schools and getting comfortable with this style of studying. Likewise, the
pricing of the venture is one of the primary qualities because of it being reasonable and can be
provided to anyone regardless of financial status. Location is also a key factor for the business, and
this can also be classified as a strength for our company because lessons and resources can be
accessed from any device and at any time that is suitable for the student.

However, the risks of the business would be that understudies must always have a solid web
association to be in contact with the tutor. Likewise, web-based coaching doesn't work so well for
inquiries that require long answers or counts that are regularly completed via paper. Another point
would be that parents and guardians don't meet the guides in person so the connection among
parent and coach is in this way reduced.
In conclusion, the lecturers will request that understudies email a draft of their work and ask
questions about any confusions ahead of time. The coach will email a duplicate of their notes to the
learner if requested. Likewise, tutors will utilize webcams with the goal that the understudy can see
who they are conversing with. To forestall absence of correspondence and have a solid connection
among mentors and guardians, understudies can book a discretionary live chat with guardians
toward the start or end of every lesson to pick up feedback.
13.0 Closing summary
The business plan is intricate and practical and gives a reasonable picture to the peruses about the
organization in the following couple of long periods of business. It guides the executives on the
territories to be tended to, the capital and assets required for the business needs, and anticipated
clients and income. Freedom of Knowledge will be an online mentoring sole ownership business,
situated in the UK. The business will be financed by the owner and social capital of loved ones.
Legitimate execution of the arrangement will see this business develop to more noteworthy
statures. In any case, this achievement will rely upon how the proprietor will have the option to
manufacture associations with understudies and teachers and guarantee the unfaltering progression
of the customers. High aspect administration is required with respect to the mentors to engage
more understudies into this administration.

Appendix

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