Are you about starting an education agency? If YES, here is a complete sample education agency business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting an education agency. We also took it further by analyzing and drafting a sample education agency marketing plan template backed up by actionable guerrilla marketing ideas for education agencies. So let’s proceed to the business planning section.
If you have a robust background in education matters, and you intend starting your business, then you should consider starting your own education agency.
There are many would-be international students and students aspiring to go to colleges / universities, who are trapped simply because they don’t know who to talk to when they have challenges with testing and educational related issues that is why it is important to set up your own education agency.
Being an education agents means that you will help your clients handle all their educational concerns, help to gain admission to colleges or universities of their choice, help them process admission and help them package their applications and documents amongst other services. You can also help your clients (international students) obtain work permits in their new country of residence / studies.
Launching an education agency is not too expensive except for the money required to rent and furnish an office space. Running this type of business requires that you should be trained as an educationist and it is indeed a very lucrative business in the United States, Canada, Australia and The United Kingdom simply because of the inflow of international students from different parts of the world.
If you are truly convinced that starting an education agency is the right business for you to do, then you need to write your own business plan. Below is a sample education agency business plan template that will help you successfully write yours with little or no stress;
A Sample Education Agency Business Plan Template
1. Industry Overview
Education agents or agencies are part of the Testing and Educational Support Services industry and establishments in the Testing & Educational Support Services industry primarily provide non – instructional support services for the education industries.
The major segments of this industry are educational testing services and educational consultants; they assist students in securing admission, processing admission and other relevant services
If you are a close observer of the Testing & Educational Support industry, you will agree that the controversial No Child Left Behind Act in the united states has been an important driver of revenue for the Testing and Educational Support industry over the past decade.
This is due to the fact that education consultants and agents play a prominent role in administering the assessments that ensure schools meet federal guidelines. Hence, the industry will be heavily impacted in the next half a decade by potential education reforms and fluctuations in federal funding.
Nevertheless, college enrollment will continue to expand over the period, and international student growth will continue, driven by high demand from students from Nigeria, China and India. Even though tighter state budgets will limit unnecessary expenditure, underlying demand for support services will still be sustained.
The Testing & Educational Support Industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Germany, Italy, Holland, Switzerland, Australia and Canada et al.
Statistics has it that in the United States of America alone, there are about 7,639 registered and licensed education consulting firms and education agencies scattered all across the United States responsible for employing about 115,967 and the industry rakes in a whooping sum of $15 billion annually.
The industry is projected to grow at 3.4 percent annual growth within 2011 and 2016. It is important to state that ETS and Pearson PLC have the largest available market share in the industry.
A recent research carried out by IBISWORLD reveals that the Testing and Educational Support industry has expanded over the five years to 2016. The report stated that during this time, revenue grew at an average annual rate of 0.9 percent to $13.7 billion in 2016.
The report pointed that the Testing and Educational Support industry is composed of three main segments: educational testing providers, educational consultants and student-exchange program providers.
While overall growth has been strong, these segments have experienced different levels of growth over the past five years, with educational testing services accounting for the largest share of revenue growth. The research further revealed that the No Child Left Behind (NCLB) Act of 2001 has driven industry demand during much of the past decade.
Under NCLB, which was signed into law in January 2002, states had to implement major educational changes to remain eligible for federal funding.
Lastly, one thing is certain about starting an education agency, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals, and even educational institutions / schools that would want to hire your services from time to time.
2. Executive Summary
School Runs Education Agency® is a registered and licensed education agency that will be based in San Diego – California. We have been able to lock down a standard office facility in the heart of the city.
We will handle all aspect of education related services; services such as securing and processing admission for students, securing scholarship for students, providing college selection services, providing educational consulting services, providing educational guidance counseling services, providing educational support services, providing educational testing services, attending school buses and facilitating student exchange programs.
We are aware that to run a standard education agency can be demanding which is why we are well trained, certified and equipped to perform excellently well. School Runs Education Agency® is a client – focused and result driven education agency that provides broad- based services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a standard and professional education support services to all to our individual clients, and corporate clients at national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
At School Runs Education Agency®, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the testing and educational support industry
School Runs Education Agency® will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the education agencies line of business in the whole of San Diego – California, and also to be amongst the top 20 education agencies in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that San Diego – California is the right place to launch our education agency business before sourcing for clients from other cities in The United States of America and throughout the globe.
School Runs Education Agency® is founded by Clem Harry and Kennedy Bosch, his business partner for many years. The organization will be managed by both of them since they have adequate working experience to manage such business.
Clem Harry has well over 5 years of experience working at various capacities within the testing and educational support services industry in the United States of America. Clem Harry and Kennedy Bosch have the required experience and qualifications to build a world class education agency business that can favorably compete amongst leaders in the industry.
3. Our Products and Services
School Runs Education Agency® is going to offer varieties of services within the scope of the testing and educational support industry in the United States of America. Our intention of starting our education agency business is to favorably compete with leading players in the testing and educational support industry both in the United States of America and in the world at large.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offerings are listed below;
- Assist students in securing and processing admission
- Assist students in securing scholarships
- Assist schools in marketing local and international students
- Providing college selection services
- Providing educational consulting services
- Providing educational guidance counseling services
- Providing educational support services
- Providing educational testing services
- Attending school buses
- Facilitating student exchange programs
4. Our Mission and Vision Statement
- Our vision is to build an education agency brand that will become the number one choice for both individual and corporate clients in the whole of San Diego – California. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to position our education agency to become the leading brands in the testing and educational support services industry in the whole of San Diego – California, and also to be amongst the top 20 education agency brands in the United States of America within the first 10 years of operations.
Our Business Structure
Ordinarily we would have settled for a hand full of full – time staff members, but as part of our plan to build a standard education agency in San Diego – California, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our organization.
The picture of the kind of education agency we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around San Diego – California.
We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Education Agents / Consultants
- Admin and HR Manager
- Marketing and Sales Executive
- Accountant
- Customer Care Executive / Front Desk Officer
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Education Consultants / Agents
- Assists students in securing and processing admission
- Assists students in securing scholarships
- Assists schools in marketing local and international students
- Responsible for providing college selection services
- Responsible for providing educational consulting services
- Responsible for providing educational guidance counseling services
- Responsible for providing educational support services
- Responsible for providing educational testing services
- Attends to school buses as it relates to students under our care
- Responsible for facilitating student exchange programs
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Marketing and Sales Executive
- Identifies, prioritizes, and reach out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the organization in strategic meetings
- Helps to increase sales and growth for the organization
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- creates reports from the information concerning the financial transactions recorded by the bookkeeper
- Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the organization
Client Service Executive / Front Desk Officer
- Welcomes students and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the organization’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels / documents for the organization
- Distributes mails in the organization
- Handles any other duties as assigned the line manager
6. SWOT Analysis
With respect to our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business.
School Runs Education Agency® hired the services of a seasoned business consultant with bias in start – ups in the United States to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the testing and educational support services industry.
As an agency, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of School Runs Education Agency®.
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team of highly qualified education consultants / agents and support staff members that can go all the way to give our clients value for their money; a team that are trained, qualified and equipped to pay attention to details and to deliver excellent education consulting cum agency services. We are well positioned and we know we will attract loads of clients (students and international students alike) from the first day we open our doors for business.
- Weakness:
As a new education agency, it might take some time for our organization to break into the market and gain acceptance especially from international students in the already saturated testing and educational support services industry; that is perhaps our major weakness. So also, we may not have the required cash to give our business the kind of publicity we would have loved to.
- Opportunities:
The opportunities in the testing and educational support services industry is massive considering the number of local and international students who can’t do with key services provided by only education agencies. As a standard and well – positioned education agency, we are ready to take advantage of any opportunity that comes our way.
- Threat:
Some of the threats that we are likely going to face as an education agency operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
If you a closer observer of the trends in the Testing & Educational Support industry, you will agree that the controversial No Child Left Behind Act in the united states has been an important driver of revenue for the Testing and Educational Support industry over the past decade. This is due to the fact that education consultants / agents play a prominent role in administering the assessments that ensure schools meet federal guidelines.
Hence, the industry will be heavily impacted in the next half a decade by potential education reforms and fluctuations in federal funding. Nevertheless, college enrollment will continue to expand over the period, and international student growth will continue, driven by high demand from students from Nigeria, China and India. Even though tighter state budgets will limit unnecessary expenditure, underlying demand for support services will still be sustained.
Although it is cheaper to start an education agency business, but the fact remains that it is a bit challenging for new entrant to come into this industry, the primary barrier to the entry for new establishment is the stiff registration requirements applicable in most countries not just the United States of America.
As a matter of fact, education agencies must comply with local licensing criteria set out by registration boards and professional associations to obtain registration in their country or the state they want to operate from. This usually requires applicants to hold an accredited tertiary qualification before they can undertake written tests of skills, knowledge and abilities.
Lastly, the geographic distribution of education agencies and revenue in the industry is based on population levels and business locations. education agencies tend to be located in areas with high populations students, and such areas tend to have higher level of students who would want to sit for college exams, apply for international studies or for student exchange programs.
8. Our Target Market
The demographic and psychographics composition of those who need the services of education agencies cut across students and schools at all levels.
School Runs Education Agency® will initially serve students within our immediate community, but that does not in any way stop us from growing to be able to compete with the leading education agencies and education consulting firms in the United States.
As a standard and licensed education agency, School Runs Education Agency® offers a wide range of education support services hence we are well trained and equipped to services a wide range of clientele base.
Our target market cuts across students at different level of studies, but local students and international students. We are coming into the industry with a business concept that will enable us work with individuals, and schools in and around San Diego – California and other cities in the United States of America.
Below is a list of the people and organizations that we have specifically design our products and services for;
- International Students
- Local students
- Schools (High Schools, Colleges and Universities)
- Tutorial colleges
Our competitive advantage
The level of competitions in the testing and educational support services industry depends largely on the location of the business and of course the business model. If you can successfully create a unique brand identity for your education agency or carve out a unique market, you are likely going to experience less competition.
For instance, if you are one of the few education agencies in your location that has the most qualified and experienced education consultant with successful track record under your payroll, you are likely going to have a competitive advantage over your competitors.
We are quite aware that to be highly competitive in the testing and educational support services industry means that we should be able to deliver expected results, our clients should be able to pay for our services and we should be able to meet the expectations of clients.
School Runs Education Agency® might be a new entrant into the testing and educational support services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified education consultants and agents in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (start – ups education agency business) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
School Runs Education Agency® is established with the aim of maximizing profits in the testing and educational support services industry and we are going to go all the way to ensure that we do all it takes to attract clients (local and international students) on a regular basis.
School Runs Education Agency® will generate income by offering the following immigration consulting services;
- Assist students in securing and processing admission
- Assist students in securing scholarships
- Assist schools in marketing local and international students
- Providing college selection services
- Providing educational consulting services
- Providing educational guidance counseling services
- Providing educational support services
- Providing educational testing services
- Attending school buses
- Facilitating student exchange programs
10. Sales Forecast
One thing is certain, there would always be local students, international students, individuals, schools and tutorial colleges et al who would need the services of testing and educational support services providers.
We are well positioned to take on the available market in San Diego – California and other key cities in the United States of America and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond San Diego to other cities in California and other states in the U.S.
We have been able to critically examine the education agency services market space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in San Diego – California.
Below are the sales projections for School Runs Education Agency®, it is based on the location of our business and the wide range of education support services that we will be offering to our clients;
- First Fiscal Year-: $150,000
- Second Fiscal Year-: $350,000
- Third Fiscal Year-: $550,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there are stiffer competitions amongst education agencies and other related educational support service providers in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard and world – class education agency that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our education agency to become one of the top 20 education agency in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the San Diego – California, but also in other cities in the United States of America.
School Runs Education Agency® is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our education agency business by sending introductory letters alongside our brochure to migrant communities, schools, households and key stake holders in San Diego – California.
- Advertise our business in relevant magazines, newspapers, TV stations, and radio station.
- List our education agency business on yellow pages’ ads (local directories)
- Attend relevant international and local education, international studies and business expos, seminars, and business fairs et al
- Create different packages for different category of clients (local students and international students et al) in order to work with their budgets and still deliver quality education agency services to them
- Leverage on the internet to promote our education consulting firm
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
- Join local chambers of commerce and industries with the aim of networking and marketing our services.
11. Publicity and Advertising Strategy
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our education agency business. Below are the platforms we will leverage on to boost our brand and to promote and advertise our business;
- Place adverts on community based educational and related newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that we position our banners and billboards in strategic positions all around San Diego – California
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact migrant communities, schools, and households et al by calling them up and informing them of School Runs Education Agency® and the educational support services we offer
- Advertise our business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and school buses and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Fixed prices and commissions for services rendered is a long – time tradition in the industry. However, for some types of education support services, flat fees make more sense because they allow clients to better predict service charge.
As a result of this, School Runs Education Agency® will charge our clients (students) a flat fee for many basic services such as securing and processing admission for students, securing scholarship for students, providing college selection services, providing educational consulting services, providing educational guidance counseling services, providing educational support services, providing educational testing services, attending school buses and facilitating student exchange programs et al.
At School Runs Education Agency® we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to local and international students.
We are aware that there are some clients that would need regular access to education support services, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by School Runs Education Agency® is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that School Runs Education Agency® will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for our testing and educational support services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for all education consultancy and advisory services rendered.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting an education agency, there are some key factors that should serve as a guide.
Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting an education agency business; it might differ in other countries due to the value of their money.
Below are some of the basic areas we will spend our start – up capital in setting up our education agency business;
- The total fee for incorporating the Business in the United States of America – $750.
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000
- The total cost for hiring Business Consultant – $2,500
- The cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
- Marketing promotion expenses for the grand opening of Webster & Golden® Education Consulting, LLP in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for purchase of the required software applications (testing results tracking Software, Payroll Software, CRM software, and Accounting Software et al) – $10,500
- The cost of launching our official Website – $600
- Budget for paying at least three employees for 3 months plus utility bills – $10,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $1,000
Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a small scale but standard education agency business in the United States of America. Please note that the salaries of all our staff members for the first month is included in the expenditure.
Generating Funds / Startup Capital for School Runs Education Agency®
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
School Runs Education Agency® is a business that will be owned and managed by Clem Harry and Kennedy Bosch, his business partner for many years. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting School Runs Education Agency® is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our education support services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
School Runs Education Agency® will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Securing a standard office facility (renovation of the facility inclusive): Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industry: In Progress.