Brilliant Mind Classes: A Detailed Business Plan for Online Education

This business plan outlines the establishment of Brilliant Mind Classes, an online coaching service targeting students from primary to PhD levels. The plan details the business overview, including the core service of providing high-quality online education with supplementary notes. It outlines the management structure, including roles and responsibilities for key team members such as CEO, IT expertise, operational manager, sales executive, and customer service executive. The plan also addresses the target market, primarily students in London, and identifies the unique selling proposition (USP) of providing eminent lecturers at affordable prices. Furthermore, it includes market research using primary and secondary methods, competitor analysis (SWOT), and a marketing strategy. The plan also addresses the financial aspects, including the seed capital required to launch the business. The marketing strategy encompasses a social media campaign and a 4/7 Ps marketing mix to reach the target audience effectively. The plan also addresses the need for a sales executive and provides a job specification for the role.

Business plan
Table of Contents:
Table of Contents

Section One........................................................................................................................................................3
Section Two........................................................................................................................................................4
Section Three......................................................................................................................................................6
Section Four.......................................................................................................................................................7
Section Five......................................................................................................................................................10
Section Six........................................................................................................................................................12
Section Seven...................................................................................................................................................13
Conclusion: ......................................................................................................................................................16
References/Bibliography..................................................................................................................................17

Section One
Scenario: A: B: C:
Business Overview
1.1Business summary: Please write business outline. (who, what, where, When
and how)
The business plan is a frame work in which the plans and the layouts about the activities and
operations which need to carry out in the business. The plans also consists of resources which might
be needing by the business in carrying out the actual activities or operational work. My business plan
is to provide the online coaching classes to the students. The classes would be provided from the
primaries level to PhD level. The name of the business is decided as “Brilliant Mind classes”. The
business would be based on a motive to provide the online education to the students who cannot go
to different place for attending their lectures. Through these online classes the students would get
very effective lectures which would add up the extra learning to their knowledge along with the extra
notes about the topics or chapter.
1.2 Describe your core product or service:
The core services which my business plan would be providing will be the online education services
where my motive is to provide the best quality educational services to the students which have
enrolled with me. My mission is to minimize the distance between the students and the education
through the spreading it to the people who cannot go out for attending their lectures or studies
(Brinckmann, J., and et al, 2019).
1.3 Your immediate and future business aims:
My immediate business aim is to successfully implement and establish the business plans in the state
of London. My current target would be the students who are living in London. After the successful
implementation of the business I would like to slowly expand it and has planned to introduced it to
other nearby countries also, like Spain, germany, Sweden and etc.
1.4 Please state the amount of seed capital required: (Up to a maximum of
£40,000)
Capital is required to start any business. Without it the idea can be converted into reality. Through
the amount the capital would get purchased. For running this particular idea and converted it into
reality, an estimate amount of 33,ooo £ (Burns and Dewhurst, 2016).

Section Two
Management structure.
2.1 Professional team skills: (Outline individual team members transferrable and
professional skills).
For starting up any business plan a proper team of people if required. In that team the members need
to have various skills and knowledge for the successful implementation of the same. An organisation
requires a proper structure with the help of which the employees and their roles and responsibilities
can be specifically stated. For this particular business plan the following professional team skills
would be needing:
CEO: This would be the person which will take all the final decision about the operational and
management activities. This person can be consider as a part of top level management.
IT expertise: This person is responsible for handling the IT related issues and problems. He would be
the man who will be forming the main serves and website where the students can have access to the
lectures.
Operational manager: He is the person who will have the job role for managing all the operations
which are taking place in between the work.
Sales executive: This person would help the company in bringing an increase in their sales through
the help of necessary digital and promotional activities (Erstad, Mann and Weber, 2016).
Customer service executive: The customer service executive is a person which is engaged in handling
all the queries which came from customers. They help in making the experience of customer
satisfactory by properly addressing their query and problems.
2.2 Each team member’s roles and responsibilities:
Stating the roles and responsibilities of the employees in an organisation is very much
necessary. This bring the clarity in the roles which an individual is expected to perform, it minimises
the conflicts and confusion and also states the boundaries within which an employee is required to
conduct its activities. The roles and responsibilities for the employees involved are as follows:
CEO:
 he is responsible to take the major decision about the company. It includes both the
operational and managerial activities.
 His role is to set the mission and vision for the business.
 He is also responsible for setting and implementing the appropriate strategies for the
organisation.
IT expertise:
 He has the role to handle all the operations related to IT.
 He is the person who responsibility is to clear all the cache which the business is facing at
their websites.
 He is also responsible for setting up the proper strong network and security base in their
networks so that their data could not get leaked.
Operational manager
 His task is to manages all the activities related to the operations of business.
 He also responsible for managing the time table for the activities which needs to be
undertaken.
 Their role is also to help the CEO in executing the strategies.
Sales executive
 His role is to bring the increase in sales for the business (Cacafranca, 2020).
 He is also responsible for conceiving the customers to get enrolled for the online classes by
educating them with benefits they would be getting by enrolling.
Customer service executives
 The role of a customer service executive is to handle the issues and feedbacks which the
business has received from the customers.
 The responsibility of this person is to address the queries and problems which the customers

have with their operations.
 They also have the responsibility to satisfy the customers.
2.3. Identify your company’s skill gaps, then chose one role and create an
advert with the skills required and their roles and responsibilities.
The company is facing the issue with regard to sales executive as the person must posses the influencing
skills, negotiation power, presentation and communication skills and much more. For getting an employee
with that skills following advert can be presented:
Job Specification
Requirement of a sales executive
Job profile- sales executive
Qualification-
Masters degree in business management with the major in marketing with an aggregate of at least
70%
Experience – 3-4 years of experience in the field of sales
Age- Between 24- 35
Role and responsibilities for the job
To set the goals for the company with respect to their sales
To increase the sales for the business
Achieve the target set for the sales
Interested candidates may give an email to HR
[e-mail]

Section Three
The market/customer profile.
3.1 Describe your target market profile and where are your proposed
customers based:
Currently my target audience would be the students of London. My business would be providing the online
lecture classes for the students between primaries and PhD level. The major target for the business will be
the students who are looking for the effective lectures and the notes about their studies within an affordable
prices and cannot go out for taking the lectures classes. The teachers who would be providing the lectures to
the students will have good background in terms of qualifications.
3.2 Describe your perceived competitive advantage/USP:
USP stands for unique selling proposition. Every business needs to have some kind of unique feature of
speciality which stands them different from the other competitive organisation. The Brilliant Minds online
institute has the USP that it provides the lectures form eminent people within the affordable prices to the
students. The knowledge which they will get from these lectures will be very useful and easy for them to
understand. These features makes my business different from the available competition in the market
(Guryčová, 2017).

Section Four
Marketing
4.1 Explain your market research with references, Using primary and secondary
research.
Provide a questionnaire with 5 suitable questions and state the objective of said
questions.
Market research is a process in which an investigator analyse the market. In that he analyse and
examines the current and future trends which are prevailing among the customers. Through the help
of these analyses the organisation would be able to know about the direction in which they need to
conduct their operations and the strategies they need to form. The research is to two types i.e.
primary research and secondary research. In primary research the researcher would be conducting his
own research for gathering and collecting the data. He would collect the data through questionnaires,
surveys, observations and much more. The data gathered through primary data is error and
manipulation free. Although this kind of research is very time consuming and a costly process.
Secondary data are the data which get collected through the other established sources. These
sources may includes newspapers, books and journals, articles, blogs and much more. It is less time
consuming process and also cost less for the researcher.
According to Löber, (2017), the market research gets conducted upon the students and their attitude and
perspective towards the online classes. Through the research the organisation would be able to find the
needs and demands which the students have with respect to these online platform lectures. Through
gathering the perspectives of these students, my organisation would be able come at a particular conclusion
and decision about the kind of product and services these students are looking for. We can conducted the
research in the form of questionnaire in which we have asked few questions to the students and conclude the
results from their answers (Hasmidyani, Fatimah and Firmansyah, 2017).
The questions which were asked by the researcher were:
Q-1 What app you used for online studies?
Trello
wunderlust
Hold
Or any other
Q-2 are all kinds of topics are available at the app?
Yes
No
Seldom
Q-3 Do you prefer the personalised classes?
Yes
No
Q-4 Does your prefer online app provides the necessary notes also?
Yes
No
Q-5 What feature you most prefer in the online apps?
Reachability
User friendly
Appearances
All of above

4.2 Competitor analysis
(Based on your market research, analyse two key competitors and explain
how your business will compete with them) (You may consider a SWOT here)
Analysing the market and the competitors is very important for any organisation as it
can frame its operations and strategies with regard to the strengths and opportunities
they have when compared with the both internal and external environment. The
SWOT analyses for Brilliant Minds company can be as follows:
Strengths:
 The quality of lectures which are provided by the Brilliant Minds is very excellent
as compared with the other competitive organisations.
 The services provided by the business are affordable prices which can be
brought by any average person.
 The scope of lectures which are provided by the organisation is very large as
wide range of topics and lectures get covered by us.
Weaknesses:
 The business presence into the UK market is very small as compared with the
market share of other companies.
 There are various apps which are already present into the market place.
Opportunities
 The business has the opportunity to expand itself in the new markets and
regions
 The increase in the growth of online lectures and classes can be the huge
opportunity growth for the business.
Threats
 The level of competition available in the market works as a threat for the
company as they need to maintain their innovativeness and quality if they want
to survive in the market place.

4.3 Marketing strategy
(In support of your business social media campaign, describe your
marketing and branding strategy, with reference to researched materials.
Identify the most appropriate strategies, (You may consider a 4 or 7ps
etc. )
For educating the targeted market about the business and the services and products they have to
offer the company has to undertake the marketing campaigns and marketing activities to perform the
same. As in the case with Brilliant Minds, the marketing activities need to get planned and
implemented through the use of marketing mix model. This model helps an organisation in forming
the strategies with respect to marketing plans:
Product: It is the item or service which the company has put into the market for sales. As in the case
with Brilliant Minds online classes the organisation has to offer the high quality of online lectures and
courses to the students.
Price: It refers to the cost which the company has set for their product or services. As in the case with
Brilliant Minds company the prices which are set for the online courses are very affordable and
reasonable which can be easily purchase by an average person (Lubawa, 2020).
Promotions: The promotional activities are performed at both the offline and online platforms.
Place: The students can avail the services by reaching to the official site of the company where they
can take the demo classes and also can purchase the courses.
4.3b. How and where will you launch your product or service.
I have planned to organise an event where my organisation would be inviting the students and teach
them the importance of education and how this site can help in minimising the gap between the
education and students. There the promotions would also be performed meanwhile where how my
online classes website can benefit the students in getting the fine quality knowledge.

Section Five
Operations and logistics
5.1 Premises:
For operating the business from one place I have planned to buy a place where all the operations of the
organisation can be conducted.
5.2 Equipment & Set up Costs:
Product Amount Cost.
Building up of website £6000 £6000
Purchasing of IT
systems
£400 £1000
Establishment of major
server
£3000 £3000
Setting up of networks £1500 £6000
Purchase of place £2500 £2500
5.3 Transport needs:
There would be no need for transport in conducting the operational activity of the business.
5.4 Legal requirements:
There are various legal requirements which the company has to fulfil. Some of the requirements may
includes:
 registering the business under the company Act of UK government.
 Fulfilling all the obligatory books and maintenance of records. The registration of patent is also necessary so that no other organisation can copy the brand
name and logo
Partnership Agreement etc.
there is no partership deed involved in the business.
5.5 Insurance requirements:
The insurance has been performed of the employees as the company provides the medical expenses to them.
5.6 Other required Certifications:
NO
5.7 Fixed monthly Costs as per cash flow:
Items Costs
Wages of the employees £1400
Cost for purchasing of place £2500
Marketing and promotional
activities
£1550

Section Six
Costs and pricing strategy
Product/service name ( Select a single unit) Brilliant Minds
Cost to your business per unit £800
Price you charge per unit £2000
Profit margin (£) £400
Profit margin (%)
(Profit / Price x 100 = Profit margin)
40.00%
Mark up (%)
(Profit / Cost x 100 = Mark Up) 45.85%
6.b Your Pricing Strategy: