Detailed Business Plan for Study Pro Education Agency in Hong Kong

This business plan outlines the establishment and operation of Study Pro Education Agency in Hong Kong. The agency aims to provide a range of educational services, including assisting students with admissions, scholarships, and college selection, as well as marketing services for institutions. The plan details the company description, services offered, marketing strategies, operational plan, management structure, and financial projections for the first three years. The marketing plan focuses on reaching secondary and college students through various channels, and the operational plan describes the agency's office setup and service delivery. The financial plan includes startup expenses, revenue forecasts, and profitability analysis, demonstrating the viability of the business. The plan emphasizes client-focused services and aims to compete effectively in the Hong Kong education sector. The financial plan projects increasing profitability over three years, supported by both equity and debt financing. The business plan includes references to support the agency's strategic approach and market understanding.

Running head: BUSINESS PLAN
Business Plan
Name of the Student:
Name of the University:
Author’s Note:

1BUSINESS PLAN
Executive Summary
The education business is considered as one of the robust industry in which, one having
an sound background in education matters and intending to start his own business can well do so
in the education sector. The educational agency company would be helping international students
and other students that are willing to go into foreign colleges/universities will be a part of the key
services that the educational agency would be providing in Hong Kong. The marketing plan in
specific would be focusing on secondary and college students that would be enabling the
students know more about the types of services that the agency provides. The agency will be
operating in the Hong Kong and would be operating in the form of a Private Limited Company.
The financial plan has been drawn up for the company so that the relevant cash flows that would
be flowing can be well noted down in the due course of business.

2BUSINESS PLAN
Table of Contents
Company Description......................................................................................................................3
Products and Services......................................................................................................................3
Marketing Plan.................................................................................................................................4
Operational Plan..............................................................................................................................4
Management and Organisation........................................................................................................5
Expenses..........................................................................................................................................5
Financial Plan..................................................................................................................................6
References........................................................................................................................................7

3BUSINESS PLAN
Company Description
The agency would be operating with the name of Study Pro Education Agency that will
be offering various kinds of services within the scope of the testing and educational industry in
the Hong Kong Education Sector. The intention of the education agency would be to favorably
compete with all the leading players that are operating in the Hong Kong Services and giving
best and quality services to the students opting for their services. The company will be always
client- focused and would be in the form of result driven educational agency that will be
providing or catering a range of education based services at an affordable rates (Wagner, 2019).
Products and Services
The educational agency is well set to make profit from the industry and the same will be
well done within the permitted laws, rules and regulation of Hong Kong for achieving its stated
business goals, aims and objectives (O’Donnell & Dahl-Popolizio, 2018). The key offered
services by the business would be as follows:
 Assisting the students in securing and processing the admissions.
 Assisting students in getting scholarships.
 Assisting various institutions and colleges in marketing activities to both international
and local students.
 Providing a range of college selection services.
 Assisting and guiding students with the help of educational consulting services.
 Facilitation of various student exchange programs.

4BUSINESS PLAN
Marketing Plan
Study Po Education Agency will be set enough to make well use of the marketing and
sales strategies so that it can well attract its client as follows with the help of its developed
marketing strategies:
 Introducing the educational agency for by way of sending various introductory letters,
alongside the brochure for migrant communities, households, schools and other key
stakeholders in Hong Kong (Kahn & Baum, 2020).
 Advertising the range of business services in the relevant magazines, newspapers, TV
Stations and various other radio station.
 Listing the services of the company in the yellow pages ads.
 Forming up various packages for different set of clients including local students and
international students so that the order of work within the budgets along with a range of
quality services offered (Costa et al., 2017).
Operational Plan
Study Pro Educational Agency will be a registered and licensed educational agency that
would be based in Hong Kong. The operations of the company would be operated from a
standard office facility that would be located in the heart of the city. We would be primarily
handling all the aspects of the educational related services, services in the field of securing and
processing of admission for students, securing scholarships for students and various other
services. All the client related details and guidance will be dealt by the Education Agents and
Consultants. However, new clients looking and exploring about the various company services
will be guided by the Customer Care Executives.

5BUSINESS PLAN
Management and Organisation
Ordinarily the business operations of the company could have well settled for a hand full
of various full time staff members, but as a part of the business plan we need to well build up a
standard education agency in the Hong Kong. We are having perfected plans in order to get
everything right from the beginning and that is why we would be going an extra mile to well
ensure that we have a set of competent, honest and a set of hardworking employees so that they
carry on the operations of the company effectively (Landa, Lillehei & Wolter, 2016). The key set
of management team that would be hold by various management executives and would be
required for our business are as follows:
 Chief Executive Officer
 Educational Agents
 HR Manager and Admin
 Sales and Marketing Executive
 Customer Care Executive
Expenses
The new startup company will be incurring various expenses whereby some of the expenses
has been stated below. The key start-up expenses that the company would be incurring will be as
follows:
 Business Incorporation Fees: HK$500.
 Insurance Policy Covers: HK$2500.
 Rent: HK$50000

6BUSINESS PLAN
 Business Consultant Salaries: HK$75000
 Cost of Equipment’s and Tools (Software Applications, Fax, Printers, Computers,
Furniture, Vehicles): HK$350,000.
 Marketing Expenses: HK$1750.
 Preliminary Expenses: HK$1250.
Financial Plan
The financial plan has been drawn for the company for the sum of three years whereby
relevant cash inflows and cash outflows that the company would be incurring has been well
written down. The initial start-up capital that would be well required by the company will be
around HK$500,000 and the same would be well used with the help of both equity and debt
financing by the company (McCready & Molls, 2018). The sales or revenue that the company
would be incurring in the first year would be around HK$350,000 and the cost of goods sold for
the services will be around HK$175,000 in the first year. The growth rate considered for increase
in revenue has been around 10% and increase in cost of operations and goods sold has been
around 5%. The net profitability reported for the first year has been around $30,821, second year
has been around $40,725, and finally in the third year will be around $50,557. The increasing
profitability base of the company well marks down the viability of the business plan proposed.

7BUSINESS PLAN
References
Costa, J., Doherty, A., Wohlrab, A., Kooker, M., & Scott, T. (2017). CENTRAL HUDSON
BUSINESS PLAN.
Kahn, M. J., & Baum, N. (2020). Entrepreneurship and Formulating Business Plans. In The
Business Basics of Building and Managing a Healthcare Practice (pp. 37-41). Springer, Cham.
Landa, J., Lillehei, C., & Wolter, A. (2016). Dear Sarah VanSickle: Enclosed is our business
proposal for the Project Friendship 5K Fun Run. The proposal is split into four major sections: a
needs statement, project description, a progress plan, and financials. We believe that by using our
plan, and the deliverables with it, Project Friendship will be able to create a unique, cohesive,
and fun event.
Masciocchi, B. (2019). How to make a business plan. In Studies in Surface Science and
Catalysis (Vol. 179, pp. 465-484). Elsevier.
McCready, K., & Molls, E. (2018). Developing a Business Plan for a Library Publishing
Program. Publications, 6(4), 42.
O’Donnell, R., & Dahl-Popolizio, S. (2018). Business Entrepreneurship: The Integrated
Behavioral Health Business Plan. In Training to Deliver Integrated Care (pp. 143-159).
Springer, Cham.
Wagner, R. A. (2019). The Business-Model ‘Flag’: A Visualization Tool for Pitching
Financials. Available at SSRN 3409229.