QUICKLEARN Business Plan: A Comprehensive Entrepreneurial Project

This document presents a comprehensive business plan for QUICKLEARN, an online tuition service targeting school and college students in London. The plan outlines the business overview, including its mission to provide personalized online learning through a user-friendly application. It details the m...Read More

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Table of Contents:

Section One
Scenario: A: B: C:
Business Overview
1.1 Business summary: Please write business outline. (who, what, where, When and
how)
The Business Plan is to start a venture named QUICKLEARN with the idea of providing tuitions to
the students of schools and colleges. Idea is for recruiting skilled teachers to teach students via application
and to attract students which are the profit-making way of company by providing appropriate base for
learning. Teachers will be paid salary and students will be charged money. Hence, firm targets students
which demand personalized learning.
1.2 Describe your core product or service:
QUICKLEARN serves on online platform, that is, it is an application that provides platform for
teachers and students to interact and meets their requirement. Need of former is to earn money by the means
of teaching while demand of later is getting enhanced learning experience.
.
1.3 Your immediate and future business aims:
Immediate step that is to be carried for stating QUICKLEARN is to determine the requirements for
launching an application. It includes legal permissions, incorporate research and development activities for
analysis requirements of target customers, studying working efficiency of competitors and choosing a
specific pattern for providing online tuitions. Business will be launched in London. Future plans will be
aggressive promoting and marketing of products or services offered. Further, expanding the scope of
business to other areas. In addition to it, proper maintenance and controlling of services provided as well as
determination of providing high quality education to enhance students’ experience.
1.4 Please state the amount of seed capital required: (Up to a maximum of
£40,000)
Amount of seed or initial capital required for launching QUICKLEARN is £40,000. Arrangement of
this capital is further classified as, owner have arrangement of £25000 and for remaining £15000 amount,
bank loan is considered.

Section Two
Management structure.
2.1 Professional team skills: (Outline individual team members transferable and
professional skills).
Professional team refers to a team of individuals that manage or control business activities and ensures
its sustainability (Solans Filella, 2018). Following are decided professional team of QUICKLEARN along
with their kills:
 Chief Executive Officer: Strategic thinking, Decision making capability, business development
expertise.
 Chief Operating Officer: Leadership skills, integrity, problem solving capacity.
 Chief Marketing Officer: Communication skills, innovative thinking, knowledge of customer
handling.
 Chief Technology Officer: Technological knowledge, issue solving capability.
2.2 Each team member’s roles and responsibilities:
Defining roles and responsibilities of each staff member is essential for providing clarity in
workflow, determining accountability of each individual and ensuring smooth flow of business operations
(Rodríguez Martínez, 2020). Hence, roles and responsibilities are professional team of QUICKLEARN are
described below:
Chief Executive Officer:
 Creation of business network.
 Strategy formulation and planning for business.
 Setting objectives, vision, and mission of company.
Chief Operating Officer:
 Deciding plans and procedures of an organization.
 Monitoring day to day operations of business.
 Establishing policies for effective business performance.
Chief Marketing Officer:
 Implementing marketing and promotional strategies for an enterprise.
 Improvement policies for brand reputation and brand awareness.
 Incorporating innovations and inventions for improving customer attractiveness.
 Maintaining and expanding market scope.
Chief Technology Officer:
 Developing technological aspect as business.
 Monitoring the maintenance of technology and equipment incorporated in firm.
 Setting and evaluating IT budgets in an organization.
 Supervising efficiency as well as functionality of system infrastructure.
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.
While identifying skill gap in QUICKLEARN, it is noted that firm does not have proper
management team for interpreting and analysing students experience. Hence, firm should hold a position for

Customer Service Executive, which will be accountable for maintaining good customer experience and
implementing required changes for improvising student’s satisfaction level (Oyewole, 2018). Job Advert for
Customer Service Executive is as follows:
Job advert
Job Specification
Required an experienced sales executive
Job title- Customer Service Executive
Qualification- MBA/ PGDM in marketing with aggregate 65%.
Experience – minimum one year experience.
Age- between 21- 45 years
Job role
Researching about customers experience in an organization.
Formulating strategies for improving customer satisfaction.
Quick solving of customer queries.
Intrested Candidate should mail their resume to HR
[e-mail]

Section Three
The market/customer profile.
3.1 Describe your target market profile and where are your proposed
customers based:
Targeted market for QUICKLEARN is school, college or university students of London, who seek
for effective platform for improvising their knowledge and grades while studying at the comfort of home.
3.2 Describe your perceived competitive advantage/USP:
USP of QUICKLEARN is that it provides opportunity to students to learn from highly expert
teachers or professors at affordable prices and even provides flexibility of online learning, hence there is no
travelling cost or effort incorporated. Another, USP is that firm is dedicated to solve students queries as
quick as possible hence, separate person is hired for the purpose of query solving.

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 provides opportunity to an enterprise to analyse the sustainability of venture in
market. It also enables firm to detect any hindrances or weaknesses and improve it accordingly. In addition
to it, this procedure of research about market ensures grabbing of opportunities and eliminating of threats.
Market research can be conducted by two methodology, that is, primary and secondary methods. Former
refers to collection and evaluation of data, while, later indicates interpretation and analysis of already
available data. Market research conducted for QUICKLEARN is further elaborated below:
As said by TOMASSONI, 2019 in that learning environment of schools and colleges does not
provide space of personalized learning. Further, some students do not dare to ask questions in front of entire
classes which serves as a loophole in their knowledge and affects their grade. Tuition classes are a space
where students can ask problems and get in depth knowledge about topics studied in school or colleges.
Primary research is conducted through making students of schools as well as colleges fill the form
that contains questions regarding their learning experience and requirement of tuitions. For this purpose,
research team targets places such as exit gate of universities, college or schools. Further, question contests
were organized on social media platforms.
Following are the questions that were asked to students:
Q1 Which platform of learning is suitable for you?
Offline
Online
Q2 Do you prefer platform for personalized learning?
Yes
No
Q3 What kind of issues you face in online learning mode?
Accessibility
Complexity in understanding
Both
Q4 Does application utilized by you contains below mentioned feature: (Tick all available feature)
Virtual board
Attendance marking area
Recording
Q5 Best attribute of online learning:
Flexibility
Cost reduction
Expertise accessibility

None
All
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)
SWOT analysis is a framework that enables an organization to identify its competencies and
eliminate its weaknesses (Louhaichi, 2018). Application of this tool is effective for QUICKLEARN to
improve decision making of internal management.
Swot analysis of QUICKLEARN is as follows:
STRENGTHS WEAKNESSES
 Affordable charges are charged to students
 Personalized teaching experience is provided
by QUICKLEARN.
 Various features are offered, such as, virtual
board, etc.
 Operating area of QUICKLEARN is limited.
 Network issues hinders accessibility of
company.
 Lacks direct physical communication
(Boone, Kurtz and Berston, 2019).
OPPORTUNITIES THREATS
 QUICKLEARN can provide various digital
learning materials to students.
 Firm have opportunity to approach high
expert tutors on online platform which stays
abroad and would not be able to interact on
physical mode (Almeida and Santos 2020).
 Some students may not have accessibility to
internal or laptops and computers.
 Competitors of QUICKLEARN is constantly
increasing.

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.)
Marketing strategy can be explained as a planning of ways in which organization should approach
customers in order to achieve its targets. An effective formulation of marketing strategy is essential for
achieving objective of an enterprise. 'Seven P formula' is an effective framework for developing strategies
for marketing (Katz, 2018). It evaluates the activities of business in seven parts, which are further explained
below in relevance to QUICKLEARN:
 PRODUCT: It refers to evaluation of core product or service that company offer. In this case,
product of QUICKLEARN is 'education'.
 PRICE: It refers to the process of setting amount or price which an organization is about to charge
from its customers, which are students in this case. Price that QUICKLEARN charges is £1200 per
year.
 PLACE: In this process place of business operations is decided. QUICKLEARN is planning to
operate in London.
 PROMOTION: It indicates strategies that company uses to approach or attract its customers.
QUICKLEARN promotes its services through social media platform and by direct marketing. In
addition to it, discounts and offers are also provided to influence customers.
 PHYSICAL EVIDENCE: It refers to the interaction criteria or platform with customers. Application
of QUICKLEARN is its physical evidence.
 PROCESS: It refers to the way or procedure of conducting business activities. Converting leads by
influencing them to download app of QUICKLEARN and pay charges for services. Hiring skilled
professors and ensuring loophole free or hindrance free online platform for teaching is the process
that is adopted by QUICKLEARN.
 PEOPLE: This indicates staff members of a company. Management team, teaches, query resolvers
and finance handlers are the people acquired by QUICKLEARN.
4.3b. How and where will you launch your product or service.
Event will be organised for launching the Application of QUICKLEARN. In this
event, requirements and benefits of this app will be explained and free trial
for 15 days will be provided to students (Jamkojian, 2020).

Section Five
Operations and logistics
5.1 Premises:
Minimum premises are required as it is an online learning app. Hence, an office will be taken on lease
for this business.
5.2 Equipment & Set up Costs:
Product Amount Cost.
Advance rent 800 800
Internet connectivity 1500 1500
Equipment or computer
devices
1000 1500
Development of
Application
6000 6000
Legal expenses 1000 1000
5.3 Transport needs:
Implementation of transportation facilities if not required as firm operates on online mode.
5.4 Legal requirements:
Partnership Agreement, registration of company, patent registrations, fulfilment of education related policies, government regulations,
incorporation with taxation policies are some legal requirements obliged with business (Ferreras-Garcia, Hernández-Lara and Serradell-López,
2019).
5.5 Insurance requirements:
Insurance of business, such as, fire insurance for equipment etc., personal incident insurance for staff members, hacker damage insurance
etc. are needed to be considered in QUICKLEARN.
5.6 Other required Certifications:
Certificates are essential for professors or teachers in the field they are obliged to teach in.
5.7 Fixed monthly Costs as per cash flow:
Items Costs
Electricity and utility 250
Marketing expenses 500
Rent expenses 6000
Salary 2000
Maintenance cost 100

Section Six
Costs and pricing strategy
Product/service name ( Select a single unit) QUICKLEARN
Cost to your business per unit 1000
Price you charge per unit 1200
Profit margin (£) 200
Profit margin (%)
(Profit / Price x 100 = Profit margin)
16.67%
Mark up (%)
(Profit / Cost x 100 = Mark Up) 20%
6.b Your Pricing Strategy:
Competitive pricing strategy will be followed by QUICKLEARN, this indicates that firm will analyse the prices of competitors as benchmark and keep
its price low for improving customer attractiveness, with the focus of becoming a market leader.

Section Seven
Cash Flow forecasts
7.1 Realistic cash flow Sales and costs forecast, including next 3 years’ projections, assuming you’ve received the start-up fund’s
you’ve requested. (Please edit to suit your need)
Januar
y
Februa
ry
Marc
h
April May June July Augu
st
Sept Oct Nov Dec Total
Sales 1: £400 £600 £600 £250 £250 £300 £500 £650 £800 £100
0
£125
0
£145
0
Loan £2000 £2000 £200
0
£200
0
£200
0
£200
0
£200
0
£700
0
£500
0
£800
0
£300
0
£300
0
£4000
0
Investment. £2000 £2000 £200
0
0 0 0 £200
0
£200
0
£200
0
£200
0
£200
0
£200
0
Total Sales: £300 £500 £600 £200 £150 £350 £500 £600 £750 £100
0
£120
0
£150
0
SET UP COSTS TOTAL £1500 £750 £200 £500 £600 £500 £500 £400 £400 £400 £300 £200
Direct Costs: £1500 £1500 £150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
TOTAL Direct Costs: £3000 £2250 £170
0
£200
0
£210
0
£200
0
£200
0
£190
0
£190
0
£190
0
£180
0
£170
0
Fixed Costs:
Salaries 1 £1500 £1500 £150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
Rent. £1000 £1000 £100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0

Staff Wages. £200 £200 £200 £200 £200 £200 £200 £200 £200 £200 £200 £200
Utilities/Gas/Elec £200 £200 £200 £200 £200 £200 £200 £200 £200 £200 £200 £200
Phones. £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50
Promotion & Ad. £750 £750 £750 £750 £750 £750 £750 £750 £750 £750 £750 £750
Website. £100 £100 £100 £100 £100 £100 £100 £100 £100 £100 £100 £100
Legal £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50
Maintenance £100 £100 £100 £100 £100 £100 £100 £100 £100 £100 £100 £100
Loan repayment. £1000 £1000 £100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
£100
0
Interest on loan. £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50 £50
TOTAL:
Sub Total: Fix + Direct
Costs.
Net Profit: Sales – Sub
total
Januar
y
Februa
ry
Marc
h
April May June July Augu
st
Sept Oct Nov Dec Total
Sales 1: £300 £500 £600 £200 £150 £350 £500 £600 £750 £100
0
£120
0
£150
0
Loan £2000 £2000 £200
0
£200
0
£200
0
£200
0
£200
0
£700
0
£500
0
£800
0
£300
0
£300
0
£4000
0
Investment. £2000 £2000 £200
0
0 0 0 £200
0
£200
0
£200
0
£200
0
£200
0
£200
0
Total Sales: £300 £500 £600 £200 £150 £350 £500 £600 £750 £100
0
£120
0
£150
0
SET UP COSTS TOTAL £1500 £750 £200 £500 £600 £500 £500 £400 £400 £400 £300 £200
Direct Costs: £1500 £1500 £150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
£150
0
TOTAL Direct Costs: £3000 £2250 £170
0
£200
0
£210
0
£200
0
£200
0
£190
0
£190
0
£190
0
£180
0
£170
0
7.1: Three-year projections, annual proposed sales and Net profit only

2021 2022 2023
Annual projected sales
Net profit
7.2 Notes to cash flow and projections:
Conclusion:
From the above-mentioned Business Plan, it can be concluded venture is projecting the idea of starting a tuition classes online. For the purpose fund of
£40000 is required among which £25000 is incorporated by owner by £15000 is taken as a loan from bank. Professional team of company is incorporated as
CEO, COO, CMO and CTO. Along with it, customer service executive is also required to monitor and improve experience of students. 7Ps is an efficient
framework for providing effective marketing strategy, which states that firm adopts competitive pricing and social media for enhancing market attractiveness.
Further, swot analysis of an organization helps in improving decision making process of an enterprise.

References/Bibliography
Almeida, F. and Santos, J. D., 2020. 4 Financial Plan & Viability Analysis.
Boone, L. E., Kurtz, D. L. and Berston, S., 2019. Contemporary business. John Wiley & Sons.
Ferreras-Garcia, R., Hernández-Lara, A. B. and Serradell-López, E., 2019. Entrepreneurial competences in a
higher education business plan course. Education+ Training.
Jamkojian, L., 2020. Development of a Business Plan with a Marketing Emphasis for an Eyewear
Company (Doctoral dissertation, California State University, Northridge).
Katz, J. A., 2018. The business plan: reports of its death have been greatly exaggerated. In Annals of
Entrepreneurship Education and Pedagogy–2018. Edward Elgar Publishing.
Louhaichi, M., 2018. Survey design, data management and analysis, and business plan development training
report.
Oyewole, B., 2018. Business Plan Guideline for Small and Medium Scale Enterprises.
Rodríguez Martínez, M., 2020. Business model, market research and business plan for the establishment of
Proglove in Spain (Master's thesis, Universitat Politècnica de Catalunya).
Solans Filella, A., 2018. Mobile app: business plan (Master's thesis, Universitat Politècnica de Catalunya).
TOMASSONI, M., 2019. Development of a business plan for the expansion of CESI's operations on the IFI
hydropower market.
Appendix