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The Educare Learning Center
BUSINESS
PLAN
Education a Birth Right, Not a Privilege

Prepared By
John Doe
(650) 359-3153
10200 Bolsa Ave, Westminster, CA, 92683
info@upmetrics.co
https://upmetrics.co
Table of Contents
Executive Summary 4
Business Overview 5
Market Summary 5
Marketing Summary 5
Financial Summary 5
Business Description 6
Business Overview 7
Educare's History 7
Management 7
Location 7
Legal Structure 8
Vision & Mission 8
Goals & Objectives 8
Professional Advisors 8
Market Analysis 9
Industry Analysis 10
Local Market 10
Target Market 10
Target Market profile for The Educare Learning Centre consumers: 10
Target Market profile for The Educare Learning Centre businesses: 10
Keys to Success 11
Customer Survey Summary 11
Competitive Analysis 12
Key Competitors / SWOT Analysis 13
A+ Tutors for Less 13
The Educare Learning Centre 13
Sales & Marketing 15
Pricing Strategy 16
Marketing Strategy 16
Networking 16
Conferences 16
Social Media: Twitter 16
Marketing Activities 17
Marketing Objectives 17
1 / 29
Positioning Statement 17
The Sales Process 17
Strategic Alliances 17
Operations 19
Location(s) 20
Website 20
Website Development 20
Legal Issues 20
Insurance Issues 20
Human Resources 21
Process/Production 21
The Educare Learning Centre Process – Student Tutoring 21
The Educare Learning Centre Process – Educator Workshops 21
Risk Assessment 21
Financial Plan 23
Start-Up Costs 24
Sales Forecast 24
Capital Requirements and Use of Funds 25
Income Statement Projections 25
Balance Sheet Projections 26
Cashflow Projections 27
2 / 29
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[YEAR] Business Plan | The Educare Learning Center 3 / 29
1.
Executive Summary
Business Overview
Market Summary
Marketing Summary
Financial Summary
[YEAR] Business Plan | The Educare Learning Center 4 / 29
Business Overview
Start Writing here...
Many high school students and parents see a university/college degree as a
requirement for success in the job market, making preparation for
university/college success critical. The Educare Learning Centre is a non-profit
focused on improving high school student preparedness for university/college
reading and writing. It offers both one-on-one tutoring services and educator
Market Summary
Start Writing here...
Public education has seen a significant change since 2010 when the
curriculum was overhauled to cover more content within each school year. The
effect of this change and the increased desire of parents wanting their child to
attend university/college are having a direct impact on the tutoring industry;
which has growth projections of over 7% per year. With the demand for tutoring
Marketing Summary
Start Writing here...
The Educare Learning Centre’s key strategy is to be actively engaged in the
Ottawa community and to be seen as an expert in preparing high school
students for university/college reading and writing. The Educare Learning
Centre will achieve this by attending community events to promote their
services. A secondary strategy will be to attend and present at educator
Financial Summary
Start Writing here...
$24,350 will be needed to start the business with $15,000 in funding coming
from Futurpreneur Canada and $10,000 from a Trudeau Foundation grant. In
the first year of business, The Educare Learning Centre plans on generating
just over $160,000 in sales and securing $25,000 in grants with expenses
estimated at $100,000. By the second year, The Educare Learning Centre
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[YEAR] Business Plan | The Educare Learning Center 5 / 29
2.
Business
Description
Business Overview
Educare's History
Management
Location
Legal Structure
Vision & Mission
Goals & Objectives
Professional Advisors
[YEAR] Business Plan | The Educare Learning Center 6 / 29
Business Overview
Start Writing here...
The Educare Learning Centre is a tutoring company dedicated to helping
launch high school students on a successful journey at university and/or
college by improving their literacy skills. The Educare Learning Centre was
established on 01/01/2014.
The Educare Learning Centre is a bilingual service non-profit focused on high
Educare's History
Start Writing here...
Jerry Yarrick conceived the launch of The Educare Learning Centre three years
ago prompted by the struggles she faced in her first few months at the
University of Ottawa.
Ms. Yarrick felt unprepared to meet the writing requirements of her courses and
sought out a teaching assistant to provide tutoring services. Throughout her
Management
Start Writing here...
The Educare Learning Centre is a federally incorporated non-profit with a four-
member board of directors. Ms. Yarrick will be the managing director on the
board responsible for running educator workshops and volunteer recruitment.
Ms. Yarrick will work with Max Zao, a full-time board member of The Educare
Learning Centre. Mr. Zao will be responsible for business development and a
Location
Start Writing here...
The Educare Learning Centre will be a home office. The Educare Learning
Centre will be located at 2898 Baycrest Dr., Ottawa, ON K1V 6P4. This
location will be the non-profit’s headquarters, however, one-on-one tutoring
sessions will take place at donated venues. The venues secured are walking
distance for the majority of students, close to a number of schools, and easily
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[YEAR] Business Plan | The Educare Learning Center 7 / 29
Legal Structure
Start Writing here...
The Educare Learning Centre is a corporation. The Educare Learning Centre
will operate as a federally incorporated non-profit that is also registered in
Ontario.
The Educare Learning Centre consulted with a board member, Bridgette Kohl,
a local corporate lawyer before deciding to incorporate. It was decided that The
Vision & Mission
Start Writing here...
To be an advocate for improving high school students’ reading/writing skills for
post-secondary education, helping all students achieve success regardless of
academic or financial circumstances.
To train educators on how they can better prepare students for post-secondary
success while providing one-on-one reading and writing tutoring that inspires
Goals & Objectives
Start Writing here...
Enrolment of two school boards in ongoing educator workshops by
September 2014 with monthly revenues of $15,000.
The steady base of 20 students partaking in pay-what-you-can tutoring
services each month by July 2014.
$25,000 in grant funding secured by December 2014.
Professional Advisors
Start Writing here...
In addition to Mr. Zao and Ms. Yarrick, The Educare Learning Centre will have
two other board members. The Educare Learning Centre will rely on Bridgette
Kohl both as a parent advocate in the community and lawyer for matters
surrounding the start-up of the business. In addition, Christy Mannon,
Superintendent of Student Success with the Ottawa Catholic School Board will
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[YEAR] Business Plan | The Educare Learning Center 8 / 29
3.
Market Analysis
Industry Analysis
Local Market
Target Market
Keys to Success
Customer Survey Summary
[YEAR] Business Plan | The Educare Learning Center 9 / 29
Industry Analysis
Start Writing here...
The Educare Learning Centre operates primarily in the service industry.
The Canadian tutoring industry is divided amongst national franchises such as
Sylvan, Oxford, and Kumon, smaller local franchise companies, and lastly
multiple one-person operations and online resources. This divergent make-up
coupled with a lack of government regulation has created a low barrier to entry.
Local Market
Start Writing here...
Ottawa has a variety of tutoring services available, from single tutor operations
to national franchises. There are 78 services listed for the Ottawa area on
moretutors.ca. This excludes the large franchises like Oxford Learning Centre
and Kumon that also have locations in Ottawa. Based on reviewing
YellowPages.ca, The Educare Learning Centre has determined there are
Target Market
The Educare Learning Centre is focused on selling both to consumers (B2C) and businesses (B2B).
Target Market profile for The Educare Learning Centre consumers:
Start writing here...
1. Single or married households with children in high school (demographics)
2. Students planning on attending university/college (lifestyle
3. Family income: $50,000 (demographics)
4. Parents desiring that their children attend university/college (lifestyle)
Target Market profile for The Educare Learning Centre businesses:
1. English and French secondary school boards (industry)
2. School principals looking for Professional Development (PD) workshops
(decision-makers)
3. Superintendents focused on innovation in education (decision-makers)
4. Schools invested in finding ways to support student success
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[YEAR] Business Plan | The Educare Learning Center 10 / 29
Target Market profile for The Educare Learning Centre businesses:
Start writing here...
Keys to Success
Start Writing here...
A consistent visibility program will be essential to gain students for one-on-one
tutoring and to gain traction with educators that students are seeking out ways
to better prepare for post-secondary reading and writing requirements. The
Educare Learning Centre will be focused on engaging the community by
participating in education-related activities throughout the Ledbury, Heron Gate,
Customer Survey Summary
Start Writing here...
During the initial business planning stages of The Educare Learning Centre,
Ms. Yarrick interviewed a series of university students, professors, and parents
of university students throughout the downtown Ottawa core. Using a tablet to
track responses, she surveyed 50 people (25 students, 9 professors, 16
parents) during November and December 2013. Over 80% of students
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[YEAR] Business Plan | The Educare Learning Center 11 / 29
4.
Competitive
Analysis
Key Competitors / SWOT Analysis
[YEAR] Business Plan | The Educare Learning Center 12 / 29
Key Competitors / SWOT Analysis
Start Writing here...
The Educare Learning Centre has two lines of business both working to
achieve its mission-vision. As such, we’ve included a separate SWOT analysis
for each line of business. For direct one-on-one tutoring services:
A+ Tutors for Less
Start writing here...
Strengths
Well established
Marketed as low cost tutoring option
Online presence
S
Weaknesses
Tutoring only provided “In Home”
Student reviews of tutors are poor
W
Opportunities
Engaging peer tutors
Low cost destination tutoring service
O
Threats
May decide to start tutoring from offsite
locations
T
The Educare Learning Centre
Start writing here...
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[YEAR] Business Plan | The Educare Learning Center 13 / 29
Strengths
Familiar with local community
Network of university/college aged
tutors
S
Weaknesses
Not an established brand in Ottawa
W
Opportunities
Decrease anxiety about post-
secondary success
Provide peer aged tutors to engage
students
O
Threats
High schools/libraries may start
charging for space usage
T
[YEAR] Business Plan | The Educare Learning Center 14 / 29
5.
Sales & Marketing
Pricing Strategy
Marketing Strategy
Positioning Statement
The Sales Process
Strategic Alliances
[YEAR] Business Plan | The Educare Learning Center 15 / 29
Pricing Strategy
Start Writing here...
Fees range from the low end of $20/hour to $55/hour for established tutoring
companies like Oxford Tutoring for one-on-one tutoring. Fees for full-day
educator workshops range from $600 - $1000 depending on the area of
expertise.
Competition: $45/hour plus an assessment fee and $995 for a large group
Marketing Strategy
Networking
Start writing here...
Networking in the Ledbury, Heron Gate, Ridgemont Elmwood community
Becoming part of the local community fabric will be critical for the success of
the business. The marketing strategy will be to attract parents and students
who are feeling pressure to succeed at university/college or who are anxious
about starting post-secondary education. The Educare Learning Centre’s
Conferences
Start writing here...
A secondary strategy will be for Mr. Zao to attend education conferences and
secure speaking engagements to promote the need to help high school
students succeed in post-secondary education. Appearing on the conference
agenda will increase the visibility of The Educare Learning Centre within the
education community and will increase the reputation and credibility of the
Social Media: Twitter
Start writing here...
In social media, The Educare Learning Centre will focus on announcing tutor
availability, tutor insights, tutor biographies, and re-tweeting excerpts from Mr.
Zao’s talks to students and educators. This will be an effective way to
communicate directly with the student market and empower them to drive their
own educational goals.
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[YEAR] Business Plan | The Educare Learning Center 16 / 29
Marketing Activities
Start writing here...
Primary marketing activity
The Educare Learning Centre’s primary marketing activity will be networking
throughout the south Ottawa area, specifically the neighborhoods of Ledbury,
Heron Gate, Ridgemont, and Elmwood. Specific activities include events
hosted at Hub Ottawa, high school student information sessions, and parent
Marketing Objectives
Start writing here...
Goal #1: Workshops running in three of four school boards by October 2014
Goal #2: Eight reoccurring students seeking tutoring twice a week by March
2013.
Goal #3: Four networking or community events a month.
Positioning Statement
Start Writing here...
The Educare Learning Centre is a non-profit focused on achieving high school
student’s success at university/college through tutoring and educator
workshops.
The Sales Process
Start Writing here...
The Educare Learning Centre's sales cycle is one-two months.
The Educare Learning Centre’s sales process is focused on securing educator
workshops, as these are the primary revenue for the non-profit. At the start,
The Educare Learning Centre will rely heavily on the network of its full-time
board member, Mr. Zao.
Strategic Alliances
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[YEAR] Business Plan | The Educare Learning Center 17 / 29
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The Educare Learning Centre has a strategic alliance with Hub Ottawa to help
promote the non-profit through its social innovation center, helping to establish
The Educare Learning Centre as part of the local community. The Educare
Learning Centre has also developed a strategic relationship with the Ontario
School Counsellors’ Association to promote their tutoring services to members
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[YEAR] Business Plan | The Educare Learning Center 18 / 29
6.
Operations
Location(s)
Legal Issues
Insurance Issues
Human Resources
Process/Production
Risk Assessment
[YEAR] Business Plan | The Educare Learning Center 19 / 29
Location(s)
Start Writing here...
The Educare Learning Centre’s head office will be the residence of its
managing director, Ms. Yarrick at 2898 Baycrest Dr., Ottawa, ON K1V 6P4.
The Educare Learning Centre will not own or lease a physical location for their
operations. Instead, they have negotiated the donation of space by the Ottawa
Public Library at their Alta Vista and Sunnyside locations. St. Patrick’s
Website
Start writing here...
The Educare Learning Centre website will launch/launch on 01/03/2014.
The Educare Learning Centre has entered an agreement to set up and host
their website on GoDaddy.ca. The website will highlight The Educare Learning
Centre’s services, one-on-one tutoring and educator workshops, and its board
of directors. The strategy is to create awareness of and credibility for The
Website Development
Start writing here...
The Educare Learning Centre hired a freelance web developer to install
WordPress onto their GoDaddy account. In November The Educare Learning
Agency purchased “The Brand Identity Pack” from 99designs.ca, which
provided print collateral, a logo, and a Facebook cover image. The Educare
Learning Agency has opted to incorporate this logo with a free WordPress
Legal Issues
Start Writing here...
The Educare Learning Centre anticipates the following legal issues:
Business licenses
Registering employees
Contract agreements (partnerships, independent contractors, etc.)
Insurance Issues
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[YEAR] Business Plan | The Educare Learning Center 20 / 29
Start Writing here...
The Educare Learning Centre requires liability insurance.
Human Resources
Start Writing here...
The Educare Learning Centre will have 1 – 10 full-time staff.
The Educare Learning Centre will have 0 part-time staff.
The Educare Learning Centre will open with two full-time employees and one
full-time board member. Ms. Yarrick, managing director, will be the
Process/Production
The Educare Learning Centre Process – Student Tutoring
Start writing here...
The Educare Learning Centre Process – Student Tutoring
Parent registers their child for tutoring via the website and selects a primary
and secondary date/time/location for where they would like their tutoring
session to take place. Parents will be required to digitally sign the waiver,
including liability issues, to complete their registration. At this time they must
The Educare Learning Centre Process – Educator Workshops
Start writing here...
Teachers, principals, literacy advisors, or parents would contact The Educare
Learning Centre to inquire about booking one or both of their workshops:
1. Critical Review & Reasoning
2. The Art of Arguing
Risk Assessment
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[YEAR] Business Plan | The Educare Learning Center 21 / 29
Start Writing here...
The Educare Learning Centre will be spending the majority of its marketing
efforts attending community events and networking within the educator
community to build credibility and exposure with both parents and educators.
However, if these efforts prove ineffective at generating the target number of
educator workshops, The Educare Learning Centre will look into paid
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[YEAR] Business Plan | The Educare Learning Center 22 / 29
7.
Financial Plan
Start-Up Costs
Capital Requirements and Use of Funds
Income Statement Projections
Balance Sheet Projections
Cashflow Projections
[YEAR] Business Plan | The Educare Learning Center 23 / 29
Start-Up Costs
Sales Forecast
Key Assumptions for The Educare Learning Centre
No sales in the first month due to extensive networking
Slowest months: July/Aug – summer vacations
Average hourly rate: $20 or pay-what-you-can tutoring
Each student, on average, will attend two tutoring sessions per week
Each student, on average, will have two months of tutoring
Workshop cost: $795
Year One Sales Forecast (Including Assumptions)
January - $10,000
Launched the business
$10,000 – Trudeau Foundation grant
Personalized emails from Mr. Zao to priority network contacts introducing educator workshops,
approximately 25/week.
Ten follow up meetings with Mr. Zao’s contacts interested in more information on educator
workshops.
Attended the “Brown Bag Lunch: Learning is for Life” event at Hub Ottawa
Attended Canadian Public Education Society monthly meeting
Attended Community Hub meeting for Conseil des écoles publiques de l'Est de l'Ontario
(CEPEO)
Published four to five tweets/week to a @LLcentreCAN Twitter account.
Submitted grant to The W. Garfield Weston Foundation.
February - $4,615
$640 – pay-what-you-can tutoring for four students for four weeks
$3,975 – Five Workshop Pilot program with Notre Dame High School
Attended a conference on Literacy Development
Ten follow up meetings with Mr. Zao’s contacts interested in more information on educator
workshops
Visited the local YMCA and add tutoring service to the online community bulletin board
Hosted Q&A at a student information session at the University of Ottawa
Attended Education Innovation Reception with Carleton University at Ottawa Hub
Published four to five tweets/week to @LLcentreCAN Twitter account.
Submitted grants to Birks Family Foundation and Roaster Foundation.
March - $6,525
$960 – pay-what-you-can tutoring for eight students for four weeks
[YEAR] Business Plan | The Educare Learning Center 24 / 29
$4770 – Six trial workshops with Ottawa-Carleton District School board through Canterbury High
school and Glebe Collegiate Institute
$795 - Workshop hosted at Redeemer Christian High School
Negotiations with Ottawa-Carlton Catholic School board for additional workshops
Five follow up meetings with Mr. Zao’s contacts interested in more information on educator
workshops
Hosted a Panel Discussion at the University of Ottawa on “The Skills Gap: high school to
university writing”
Published four to five tweets/week to @LLcentreCAN Twitter account.
April - $20, 680
$1,600 – pay-what-you-can tutoring for 10 students for 4 weeks
$15,900 – Contract signed for 20 workshops with the Ottawa-Carleton Catholic School board as
part of their Student Success initiative
$1,590 – Two Workshops with Ridgemont High School via the Ottawa-Carleton District School
board
$1,590 – Two Workshops with Ottawa Learner
Five follow up meetings with Mr. Zao’s contacts interested in more information on educator
workshops
Attended Wine and Cheese Ottawa-Carleton District School board “Meet Your Trustees” event
Joined “Impact Academy” springs session at Hub Ottawa
Published four to five tweets/week to @LLcentreCAN Twitter account.
Capital Requirements and Use of Funds
The Educare Learning Centre’s “revenues” come from donations and the solicitation of donations from
both individuals and corporations.
Capital Requirements and Use of Funds
The Educare Learning Centre is currently seeking donations totally $300,000 in order to hire new staff
and expand its program offerings.
Specifically, these funds will be used as follows:
Salaries: $X,000
Administrative Expenses: $X,000 to pay for lease costs and ongoing operational expenses
Income Statement Projections
Year1 Year2 Year3 Year4 Year5
Revenues
[YEAR] Business Plan | The Educare Learning Center 25 / 29
Product/Service A $151,200 $333,396 $367,569 $405,245 $446,783
Product/Service B $100,800 $222,264 $245,046 $270,163 $297,855
Total Revenues $252,000 $555,660 $612,615 $675,408 $744,638
Expenses & Costs
Cost of goods sold $57,960 $122,245 $122,523 $128,328 $134,035
Lease $60,000 $61,500 $63,038 $64,613 $66,229
Marketing $20,000 $25,000 $25,000 $25,000 $25,000
Salaries $133,890 $204,030 $224,943 $236,190 $248,000
Other Expenses $3,500 $4,000 $4,500 $5,000 $5,500
Total Expenses & Costs $271,850 $412,775 $435,504 $454,131 $473,263
EBITDA ($19,850) $142,885 $177,112 $221,277 $271,374
Depreciation $36,960 $36,960 $36,960 $36,960 $36,960
EBIT ($56,810) $105,925 $140,152 $184,317 $234,414
Interest $23,621 $20,668 $17,716 $14,763 $11,810
PRETAX INCOME ($80,431) $85,257 $122,436 $169,554 $222,604
Net Operating Loss ($80,431) ($80,431) $0 $0 $0
Income Tax Expense $0 $1,689 $42,853 $59,344 $77,911
NET INCOME ($80,431) $83,568 $79,583 $110,210 $144,693
Net Profit Margin (%) - 15.00% 13.00% 16.30% 19.40%
Year1 Year2 Year3 Year4 Year5
Balance Sheet Projections
Year1 Year2 Year3 Year4 Year5
ASSETS
Cash $16,710 $90,188 $158,957 $258,570 $392,389
Accounts receivable $0 $0 $0 $0 $0
[YEAR] Business Plan | The Educare Learning Center 26 / 29
Inventory $21,000 $23,153 $25,526 $28,142 $31,027
Total Current Assets $37,710 $113,340 $184,482 $286,712 $423,416
Fixed assets $246,450 $246,450 $246,450 $246,450 $246,450
Depreciation $36,960 $73,920 $110,880 $147,840 $184,800
Net fixed assets $209,490 $172,530 $135,570 $98,610 $61,650
TOTAL ASSETS $247,200 $285,870 $320,052 $385,322 $485,066
LIABILITIES & EQUITY
Debt $317,971 $272,546 $227,122 $181,698 $136,273
Accounts payable $9,660 $10,187 $10,210 $10,694 $11,170
Total Liabilities $327,631 $282,733 $237,332 $192,391 $147,443
Share Capital $0 $0 $0 $0 $0
Retained earnings ($80,431) $3,137 $82,720 $192,930 $337,623
Total Equity ($80,431) $3,137 $82,720 $192,930 $337,623
TOTAL LIABILITIES & EQUITY $247,200 $285,870 $320,052 $385,322 $485,066
Year1 Year2 Year3 Year4 Year5
Cashflow Projections
CASH FLOW FROM OPERATIONS Year1 Year2 Year3 Year4 Year5
Net Income (Loss) ($80,431) $83,568 $79,583 $110,210 $144,693
Change in working capital ($11,340) ($1,625) ($2,350) ($2,133) ($2,409)
Depreciation $36,960 $36,960 $36,960 $36,960 $36,960
Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244
[YEAR] Business Plan | The Educare Learning Center 27 / 29
CASH FLOW FROM INVESTMENTS
Investment ($246,450) $0 $0 $0 $0
Net Cash Flow from Investments ($246,450) $0 $0 $0 $0
CASH FLOW FROM FINANCING
Cash from equity $0 $0 $0 $0 $0
Cash from debt $317,971 ($45,424) ($45,424) ($45,424) ($45,424)
Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424)
SUMMARY
Net Cash Flow $16,710 $73,478 $68,769 $99,613 $133,819
Cash at Beginning of Period $0 $16,710 $90,188 $158,957 $258,570
Cash at End of Period $16,710 $90,188 $158,957 $258,570 $392,389
CASH FLOW FROM OPERATIONS Year1 Year2 Year3 Year4 Year5
[YEAR] Business Plan | The Educare Learning Center 28 / 29
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Nonprofit business plan example

  • 1. The Educare Learning Center BUSINESS PLAN Education a Birth Right, Not a Privilege  Prepared By John Doe (650) 359-3153 10200 Bolsa Ave, Westminster, CA, 92683 info@upmetrics.co https://upmetrics.co
  • 2. Table of Contents Executive Summary 4 Business Overview 5 Market Summary 5 Marketing Summary 5 Financial Summary 5 Business Description 6 Business Overview 7 Educare's History 7 Management 7 Location 7 Legal Structure 8 Vision & Mission 8 Goals & Objectives 8 Professional Advisors 8 Market Analysis 9 Industry Analysis 10 Local Market 10 Target Market 10 Target Market profile for The Educare Learning Centre consumers: 10 Target Market profile for The Educare Learning Centre businesses: 10 Keys to Success 11 Customer Survey Summary 11 Competitive Analysis 12 Key Competitors / SWOT Analysis 13 A+ Tutors for Less 13 The Educare Learning Centre 13 Sales & Marketing 15 Pricing Strategy 16 Marketing Strategy 16 Networking 16 Conferences 16 Social Media: Twitter 16 Marketing Activities 17 Marketing Objectives 17 1 / 29
  • 3. Positioning Statement 17 The Sales Process 17 Strategic Alliances 17 Operations 19 Location(s) 20 Website 20 Website Development 20 Legal Issues 20 Insurance Issues 20 Human Resources 21 Process/Production 21 The Educare Learning Centre Process – Student Tutoring 21 The Educare Learning Centre Process – Educator Workshops 21 Risk Assessment 21 Financial Plan 23 Start-Up Costs 24 Sales Forecast 24 Capital Requirements and Use of Funds 25 Income Statement Projections 25 Balance Sheet Projections 26 Cashflow Projections 27 2 / 29
  • 4. Easy to use Business Plan Software Get started using a business plan template is always the fastest way to write your business plan, but as you know, you can't just fill in the blanks along with a template. You will need a collaborative tool that guides you on every step of your planning. Upmetrics can help. With Upmetrics, you can easily bring your team to write a professional business plan with automated financial forecasts. You can also do: 200+ Sample business plans Get access to hundreds of sample business plans covering almost all industries to kick start your business plan writing. This helps you to get an idea how the perfect business plan should look like. View Sample Business Plans Step-By-Step Guide You'll receive step-by-step instruction as soon as you select any business plan template. We made business planning easy with prompt help and examples on every step of your business plan writing. See How It Works Conduct accurate financial projections Do not worry about not having accounting skills. With Upmetrics, Simply enter your sales and costs figures, and we'll prepare all of your monthly/quarterly and yearly financial projections. See How It Works [YEAR] Business Plan | The Educare Learning Center 3 / 29
  • 5. 1. Executive Summary Business Overview Market Summary Marketing Summary Financial Summary [YEAR] Business Plan | The Educare Learning Center 4 / 29
  • 6. Business Overview Start Writing here... Many high school students and parents see a university/college degree as a requirement for success in the job market, making preparation for university/college success critical. The Educare Learning Centre is a non-profit focused on improving high school student preparedness for university/college reading and writing. It offers both one-on-one tutoring services and educator Market Summary Start Writing here... Public education has seen a significant change since 2010 when the curriculum was overhauled to cover more content within each school year. The effect of this change and the increased desire of parents wanting their child to attend university/college are having a direct impact on the tutoring industry; which has growth projections of over 7% per year. With the demand for tutoring Marketing Summary Start Writing here... The Educare Learning Centre’s key strategy is to be actively engaged in the Ottawa community and to be seen as an expert in preparing high school students for university/college reading and writing. The Educare Learning Centre will achieve this by attending community events to promote their services. A secondary strategy will be to attend and present at educator Financial Summary Start Writing here... $24,350 will be needed to start the business with $15,000 in funding coming from Futurpreneur Canada and $10,000 from a Trudeau Foundation grant. In the first year of business, The Educare Learning Centre plans on generating just over $160,000 in sales and securing $25,000 in grants with expenses estimated at $100,000. By the second year, The Educare Learning Centre To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 5 / 29
  • 7. 2. Business Description Business Overview Educare's History Management Location Legal Structure Vision & Mission Goals & Objectives Professional Advisors [YEAR] Business Plan | The Educare Learning Center 6 / 29
  • 8. Business Overview Start Writing here... The Educare Learning Centre is a tutoring company dedicated to helping launch high school students on a successful journey at university and/or college by improving their literacy skills. The Educare Learning Centre was established on 01/01/2014. The Educare Learning Centre is a bilingual service non-profit focused on high Educare's History Start Writing here... Jerry Yarrick conceived the launch of The Educare Learning Centre three years ago prompted by the struggles she faced in her first few months at the University of Ottawa. Ms. Yarrick felt unprepared to meet the writing requirements of her courses and sought out a teaching assistant to provide tutoring services. Throughout her Management Start Writing here... The Educare Learning Centre is a federally incorporated non-profit with a four- member board of directors. Ms. Yarrick will be the managing director on the board responsible for running educator workshops and volunteer recruitment. Ms. Yarrick will work with Max Zao, a full-time board member of The Educare Learning Centre. Mr. Zao will be responsible for business development and a Location Start Writing here... The Educare Learning Centre will be a home office. The Educare Learning Centre will be located at 2898 Baycrest Dr., Ottawa, ON K1V 6P4. This location will be the non-profit’s headquarters, however, one-on-one tutoring sessions will take place at donated venues. The venues secured are walking distance for the majority of students, close to a number of schools, and easily To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 7 / 29
  • 9. Legal Structure Start Writing here... The Educare Learning Centre is a corporation. The Educare Learning Centre will operate as a federally incorporated non-profit that is also registered in Ontario. The Educare Learning Centre consulted with a board member, Bridgette Kohl, a local corporate lawyer before deciding to incorporate. It was decided that The Vision & Mission Start Writing here... To be an advocate for improving high school students’ reading/writing skills for post-secondary education, helping all students achieve success regardless of academic or financial circumstances. To train educators on how they can better prepare students for post-secondary success while providing one-on-one reading and writing tutoring that inspires Goals & Objectives Start Writing here... Enrolment of two school boards in ongoing educator workshops by September 2014 with monthly revenues of $15,000. The steady base of 20 students partaking in pay-what-you-can tutoring services each month by July 2014. $25,000 in grant funding secured by December 2014. Professional Advisors Start Writing here... In addition to Mr. Zao and Ms. Yarrick, The Educare Learning Centre will have two other board members. The Educare Learning Centre will rely on Bridgette Kohl both as a parent advocate in the community and lawyer for matters surrounding the start-up of the business. In addition, Christy Mannon, Superintendent of Student Success with the Ottawa Catholic School Board will To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 8 / 29
  • 10. 3. Market Analysis Industry Analysis Local Market Target Market Keys to Success Customer Survey Summary [YEAR] Business Plan | The Educare Learning Center 9 / 29
  • 11. Industry Analysis Start Writing here... The Educare Learning Centre operates primarily in the service industry. The Canadian tutoring industry is divided amongst national franchises such as Sylvan, Oxford, and Kumon, smaller local franchise companies, and lastly multiple one-person operations and online resources. This divergent make-up coupled with a lack of government regulation has created a low barrier to entry. Local Market Start Writing here... Ottawa has a variety of tutoring services available, from single tutor operations to national franchises. There are 78 services listed for the Ottawa area on moretutors.ca. This excludes the large franchises like Oxford Learning Centre and Kumon that also have locations in Ottawa. Based on reviewing YellowPages.ca, The Educare Learning Centre has determined there are Target Market The Educare Learning Centre is focused on selling both to consumers (B2C) and businesses (B2B). Target Market profile for The Educare Learning Centre consumers: Start writing here... 1. Single or married households with children in high school (demographics) 2. Students planning on attending university/college (lifestyle 3. Family income: $50,000 (demographics) 4. Parents desiring that their children attend university/college (lifestyle) Target Market profile for The Educare Learning Centre businesses: 1. English and French secondary school boards (industry) 2. School principals looking for Professional Development (PD) workshops (decision-makers) 3. Superintendents focused on innovation in education (decision-makers) 4. Schools invested in finding ways to support student success To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 10 / 29
  • 12. Target Market profile for The Educare Learning Centre businesses: Start writing here... Keys to Success Start Writing here... A consistent visibility program will be essential to gain students for one-on-one tutoring and to gain traction with educators that students are seeking out ways to better prepare for post-secondary reading and writing requirements. The Educare Learning Centre will be focused on engaging the community by participating in education-related activities throughout the Ledbury, Heron Gate, Customer Survey Summary Start Writing here... During the initial business planning stages of The Educare Learning Centre, Ms. Yarrick interviewed a series of university students, professors, and parents of university students throughout the downtown Ottawa core. Using a tablet to track responses, she surveyed 50 people (25 students, 9 professors, 16 parents) during November and December 2013. Over 80% of students To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 11 / 29
  • 13. 4. Competitive Analysis Key Competitors / SWOT Analysis [YEAR] Business Plan | The Educare Learning Center 12 / 29
  • 14. Key Competitors / SWOT Analysis Start Writing here... The Educare Learning Centre has two lines of business both working to achieve its mission-vision. As such, we’ve included a separate SWOT analysis for each line of business. For direct one-on-one tutoring services: A+ Tutors for Less Start writing here... Strengths Well established Marketed as low cost tutoring option Online presence S Weaknesses Tutoring only provided “In Home” Student reviews of tutors are poor W Opportunities Engaging peer tutors Low cost destination tutoring service O Threats May decide to start tutoring from offsite locations T The Educare Learning Centre Start writing here... To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 13 / 29
  • 15. Strengths Familiar with local community Network of university/college aged tutors S Weaknesses Not an established brand in Ottawa W Opportunities Decrease anxiety about post- secondary success Provide peer aged tutors to engage students O Threats High schools/libraries may start charging for space usage T [YEAR] Business Plan | The Educare Learning Center 14 / 29
  • 16. 5. Sales & Marketing Pricing Strategy Marketing Strategy Positioning Statement The Sales Process Strategic Alliances [YEAR] Business Plan | The Educare Learning Center 15 / 29
  • 17. Pricing Strategy Start Writing here... Fees range from the low end of $20/hour to $55/hour for established tutoring companies like Oxford Tutoring for one-on-one tutoring. Fees for full-day educator workshops range from $600 - $1000 depending on the area of expertise. Competition: $45/hour plus an assessment fee and $995 for a large group Marketing Strategy Networking Start writing here... Networking in the Ledbury, Heron Gate, Ridgemont Elmwood community Becoming part of the local community fabric will be critical for the success of the business. The marketing strategy will be to attract parents and students who are feeling pressure to succeed at university/college or who are anxious about starting post-secondary education. The Educare Learning Centre’s Conferences Start writing here... A secondary strategy will be for Mr. Zao to attend education conferences and secure speaking engagements to promote the need to help high school students succeed in post-secondary education. Appearing on the conference agenda will increase the visibility of The Educare Learning Centre within the education community and will increase the reputation and credibility of the Social Media: Twitter Start writing here... In social media, The Educare Learning Centre will focus on announcing tutor availability, tutor insights, tutor biographies, and re-tweeting excerpts from Mr. Zao’s talks to students and educators. This will be an effective way to communicate directly with the student market and empower them to drive their own educational goals. To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 16 / 29
  • 18. Marketing Activities Start writing here... Primary marketing activity The Educare Learning Centre’s primary marketing activity will be networking throughout the south Ottawa area, specifically the neighborhoods of Ledbury, Heron Gate, Ridgemont, and Elmwood. Specific activities include events hosted at Hub Ottawa, high school student information sessions, and parent Marketing Objectives Start writing here... Goal #1: Workshops running in three of four school boards by October 2014 Goal #2: Eight reoccurring students seeking tutoring twice a week by March 2013. Goal #3: Four networking or community events a month. Positioning Statement Start Writing here... The Educare Learning Centre is a non-profit focused on achieving high school student’s success at university/college through tutoring and educator workshops. The Sales Process Start Writing here... The Educare Learning Centre's sales cycle is one-two months. The Educare Learning Centre’s sales process is focused on securing educator workshops, as these are the primary revenue for the non-profit. At the start, The Educare Learning Centre will rely heavily on the network of its full-time board member, Mr. Zao. Strategic Alliances To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 17 / 29
  • 19. Start Writing here... The Educare Learning Centre has a strategic alliance with Hub Ottawa to help promote the non-profit through its social innovation center, helping to establish The Educare Learning Centre as part of the local community. The Educare Learning Centre has also developed a strategic relationship with the Ontario School Counsellors’ Association to promote their tutoring services to members To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 18 / 29
  • 20. 6. Operations Location(s) Legal Issues Insurance Issues Human Resources Process/Production Risk Assessment [YEAR] Business Plan | The Educare Learning Center 19 / 29
  • 21. Location(s) Start Writing here... The Educare Learning Centre’s head office will be the residence of its managing director, Ms. Yarrick at 2898 Baycrest Dr., Ottawa, ON K1V 6P4. The Educare Learning Centre will not own or lease a physical location for their operations. Instead, they have negotiated the donation of space by the Ottawa Public Library at their Alta Vista and Sunnyside locations. St. Patrick’s Website Start writing here... The Educare Learning Centre website will launch/launch on 01/03/2014. The Educare Learning Centre has entered an agreement to set up and host their website on GoDaddy.ca. The website will highlight The Educare Learning Centre’s services, one-on-one tutoring and educator workshops, and its board of directors. The strategy is to create awareness of and credibility for The Website Development Start writing here... The Educare Learning Centre hired a freelance web developer to install WordPress onto their GoDaddy account. In November The Educare Learning Agency purchased “The Brand Identity Pack” from 99designs.ca, which provided print collateral, a logo, and a Facebook cover image. The Educare Learning Agency has opted to incorporate this logo with a free WordPress Legal Issues Start Writing here... The Educare Learning Centre anticipates the following legal issues: Business licenses Registering employees Contract agreements (partnerships, independent contractors, etc.) Insurance Issues To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 20 / 29
  • 22. Start Writing here... The Educare Learning Centre requires liability insurance. Human Resources Start Writing here... The Educare Learning Centre will have 1 – 10 full-time staff. The Educare Learning Centre will have 0 part-time staff. The Educare Learning Centre will open with two full-time employees and one full-time board member. Ms. Yarrick, managing director, will be the Process/Production The Educare Learning Centre Process – Student Tutoring Start writing here... The Educare Learning Centre Process – Student Tutoring Parent registers their child for tutoring via the website and selects a primary and secondary date/time/location for where they would like their tutoring session to take place. Parents will be required to digitally sign the waiver, including liability issues, to complete their registration. At this time they must The Educare Learning Centre Process – Educator Workshops Start writing here... Teachers, principals, literacy advisors, or parents would contact The Educare Learning Centre to inquire about booking one or both of their workshops: 1. Critical Review & Reasoning 2. The Art of Arguing Risk Assessment To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 21 / 29
  • 23. Start Writing here... The Educare Learning Centre will be spending the majority of its marketing efforts attending community events and networking within the educator community to build credibility and exposure with both parents and educators. However, if these efforts prove ineffective at generating the target number of educator workshops, The Educare Learning Centre will look into paid To unlock help try Upmetrics!  [YEAR] Business Plan | The Educare Learning Center 22 / 29
  • 24. 7. Financial Plan Start-Up Costs Capital Requirements and Use of Funds Income Statement Projections Balance Sheet Projections Cashflow Projections [YEAR] Business Plan | The Educare Learning Center 23 / 29
  • 25. Start-Up Costs Sales Forecast Key Assumptions for The Educare Learning Centre No sales in the first month due to extensive networking Slowest months: July/Aug – summer vacations Average hourly rate: $20 or pay-what-you-can tutoring Each student, on average, will attend two tutoring sessions per week Each student, on average, will have two months of tutoring Workshop cost: $795 Year One Sales Forecast (Including Assumptions) January - $10,000 Launched the business $10,000 – Trudeau Foundation grant Personalized emails from Mr. Zao to priority network contacts introducing educator workshops, approximately 25/week. Ten follow up meetings with Mr. Zao’s contacts interested in more information on educator workshops. Attended the “Brown Bag Lunch: Learning is for Life” event at Hub Ottawa Attended Canadian Public Education Society monthly meeting Attended Community Hub meeting for Conseil des écoles publiques de l'Est de l'Ontario (CEPEO) Published four to five tweets/week to a @LLcentreCAN Twitter account. Submitted grant to The W. Garfield Weston Foundation. February - $4,615 $640 – pay-what-you-can tutoring for four students for four weeks $3,975 – Five Workshop Pilot program with Notre Dame High School Attended a conference on Literacy Development Ten follow up meetings with Mr. Zao’s contacts interested in more information on educator workshops Visited the local YMCA and add tutoring service to the online community bulletin board Hosted Q&A at a student information session at the University of Ottawa Attended Education Innovation Reception with Carleton University at Ottawa Hub Published four to five tweets/week to @LLcentreCAN Twitter account. Submitted grants to Birks Family Foundation and Roaster Foundation. March - $6,525 $960 – pay-what-you-can tutoring for eight students for four weeks [YEAR] Business Plan | The Educare Learning Center 24 / 29
  • 26. $4770 – Six trial workshops with Ottawa-Carleton District School board through Canterbury High school and Glebe Collegiate Institute $795 - Workshop hosted at Redeemer Christian High School Negotiations with Ottawa-Carlton Catholic School board for additional workshops Five follow up meetings with Mr. Zao’s contacts interested in more information on educator workshops Hosted a Panel Discussion at the University of Ottawa on “The Skills Gap: high school to university writing” Published four to five tweets/week to @LLcentreCAN Twitter account. April - $20, 680 $1,600 – pay-what-you-can tutoring for 10 students for 4 weeks $15,900 – Contract signed for 20 workshops with the Ottawa-Carleton Catholic School board as part of their Student Success initiative $1,590 – Two Workshops with Ridgemont High School via the Ottawa-Carleton District School board $1,590 – Two Workshops with Ottawa Learner Five follow up meetings with Mr. Zao’s contacts interested in more information on educator workshops Attended Wine and Cheese Ottawa-Carleton District School board “Meet Your Trustees” event Joined “Impact Academy” springs session at Hub Ottawa Published four to five tweets/week to @LLcentreCAN Twitter account. Capital Requirements and Use of Funds The Educare Learning Centre’s “revenues” come from donations and the solicitation of donations from both individuals and corporations. Capital Requirements and Use of Funds The Educare Learning Centre is currently seeking donations totally $300,000 in order to hire new staff and expand its program offerings. Specifically, these funds will be used as follows: Salaries: $X,000 Administrative Expenses: $X,000 to pay for lease costs and ongoing operational expenses Income Statement Projections Year1 Year2 Year3 Year4 Year5 Revenues [YEAR] Business Plan | The Educare Learning Center 25 / 29
  • 27. Product/Service A $151,200 $333,396 $367,569 $405,245 $446,783 Product/Service B $100,800 $222,264 $245,046 $270,163 $297,855 Total Revenues $252,000 $555,660 $612,615 $675,408 $744,638 Expenses & Costs Cost of goods sold $57,960 $122,245 $122,523 $128,328 $134,035 Lease $60,000 $61,500 $63,038 $64,613 $66,229 Marketing $20,000 $25,000 $25,000 $25,000 $25,000 Salaries $133,890 $204,030 $224,943 $236,190 $248,000 Other Expenses $3,500 $4,000 $4,500 $5,000 $5,500 Total Expenses & Costs $271,850 $412,775 $435,504 $454,131 $473,263 EBITDA ($19,850) $142,885 $177,112 $221,277 $271,374 Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 EBIT ($56,810) $105,925 $140,152 $184,317 $234,414 Interest $23,621 $20,668 $17,716 $14,763 $11,810 PRETAX INCOME ($80,431) $85,257 $122,436 $169,554 $222,604 Net Operating Loss ($80,431) ($80,431) $0 $0 $0 Income Tax Expense $0 $1,689 $42,853 $59,344 $77,911 NET INCOME ($80,431) $83,568 $79,583 $110,210 $144,693 Net Profit Margin (%) - 15.00% 13.00% 16.30% 19.40% Year1 Year2 Year3 Year4 Year5 Balance Sheet Projections Year1 Year2 Year3 Year4 Year5 ASSETS Cash $16,710 $90,188 $158,957 $258,570 $392,389 Accounts receivable $0 $0 $0 $0 $0 [YEAR] Business Plan | The Educare Learning Center 26 / 29
  • 28. Inventory $21,000 $23,153 $25,526 $28,142 $31,027 Total Current Assets $37,710 $113,340 $184,482 $286,712 $423,416 Fixed assets $246,450 $246,450 $246,450 $246,450 $246,450 Depreciation $36,960 $73,920 $110,880 $147,840 $184,800 Net fixed assets $209,490 $172,530 $135,570 $98,610 $61,650 TOTAL ASSETS $247,200 $285,870 $320,052 $385,322 $485,066 LIABILITIES & EQUITY Debt $317,971 $272,546 $227,122 $181,698 $136,273 Accounts payable $9,660 $10,187 $10,210 $10,694 $11,170 Total Liabilities $327,631 $282,733 $237,332 $192,391 $147,443 Share Capital $0 $0 $0 $0 $0 Retained earnings ($80,431) $3,137 $82,720 $192,930 $337,623 Total Equity ($80,431) $3,137 $82,720 $192,930 $337,623 TOTAL LIABILITIES & EQUITY $247,200 $285,870 $320,052 $385,322 $485,066 Year1 Year2 Year3 Year4 Year5 Cashflow Projections CASH FLOW FROM OPERATIONS Year1 Year2 Year3 Year4 Year5 Net Income (Loss) ($80,431) $83,568 $79,583 $110,210 $144,693 Change in working capital ($11,340) ($1,625) ($2,350) ($2,133) ($2,409) Depreciation $36,960 $36,960 $36,960 $36,960 $36,960 Net Cash Flow from Operations ($54,811) $118,902 $114,193 $145,037 $179,244 [YEAR] Business Plan | The Educare Learning Center 27 / 29
  • 29. CASH FLOW FROM INVESTMENTS Investment ($246,450) $0 $0 $0 $0 Net Cash Flow from Investments ($246,450) $0 $0 $0 $0 CASH FLOW FROM FINANCING Cash from equity $0 $0 $0 $0 $0 Cash from debt $317,971 ($45,424) ($45,424) ($45,424) ($45,424) Net Cash Flow from Financing $317,971 ($45,424) ($45,424) ($45,424) ($45,424) SUMMARY Net Cash Flow $16,710 $73,478 $68,769 $99,613 $133,819 Cash at Beginning of Period $0 $16,710 $90,188 $158,957 $258,570 Cash at End of Period $16,710 $90,188 $158,957 $258,570 $392,389 CASH FLOW FROM OPERATIONS Year1 Year2 Year3 Year4 Year5 [YEAR] Business Plan | The Educare Learning Center 28 / 29
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