education

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business plan on a creative international school

In Bangladesh, Providing education to children and teenagers through English medium school is a service oriented business that has been practiced so far by private and non-government organizations. This feasibility study deals with the possibilities and requirements of setting up an English medium school in Dhaka city (Dhanmondi area).

In today’s world like Food, Cloth and Shelter, Education has become one of the basic needs, on the other hand providing education in a systematic and accurate manner still remain a great challenge. In Dhaka along with the government schools there are so many private schools, especially private English medium schools that are providing education to the children and teenagers. Signboards, banner, leaflets, and advertisements of such schools can be seen in everyday newspaper or at any street or area of Dhaka. But most of these schools hardly meet the expectation of the parents and are hardly able to educate in a systematic way using English language as the medium of exchange. Keeping these facts in mind, considering a project to setup a quality private English medium school in Dhaka is very rational.

The name of my English medium school is “Creative International School” and it will locate at house no-32, Road no-3, Dhanmondi , Dhaka- 1205. It will satisfy the consumer need by providing education to 4 to 18 year old children and teenagers, using up to date and high quality learning methods adopted from deputed schools in United Kingdom. In addition it will become the best English medium school in Bangladesh within 2012 in the following areas:-

Teaching method

Teacher’s quality

Student development

Student quality

Student intake

Learning environment

Teaching environment

Working environment

This project aims to establish CIS to attain these objectives for achieving features of high standards.

The promoter:

The promoter of the proposed CIS has sufficient experience and knowledge in the concerned field. The brief profile are given below-

Name

Age

Contact address

Phone number

Kaniz Fatema

24

Flat 2, Delafield House,

Christian Street, London

+447574560200

Md. Farid Alam

25

Flat 40, Langdon House

IDA Street, London

+44740-4499400

M. Razibul hassan

26

House no 29

Road no 2

Dhanmondi, Dhaka

+88029110210

+8801711389697

Mohammed Hafezul Islam

25

House no 27

Road no 2

Dhanmondi, Dhaka

+88029110210

+8801711519729

The proposed school will have the legal form of a private limited company. The four promoters will be the four partners of the business. The partnership deed and agreements are already signed by the four promoters in accordance with the existence law of partnership in Bangladesh. The ability of the promoters to establish such school reflects their capabilities in several aspects.

Economics of one unit:

Since our main goal is to provide better education by forming Creative International School (CIS), we will not get profit. We are four founder just take 10000 as our salary, and rest of the profit will be distributed to fundamental development. If any one want to get away he can, but he will not get any profit.

We are going to form a private English medium school, which name is Creative International School (CIS). Our main competitive advantages are to provide better education than other existence English medium school.

Our per unit means per class students that means how much money will save from one class students in a month.

Creative International School

Economics of one unit

Accounts name

Unit cost

S Revenue

1200

Less: Variable cost

123.1528

Contribution margin

1076.847

Less: Fixed cost

871.7593

Net profit

205.088

Evaluating our business idea:

Our education, current organization & position, and our experiences are listed below by a table-

Name

Education

Current organization and position

Previous experience

Kaniz Fatema Sharmin

(International relationship UK)

Managing Director, Teleno CO. Ltd

Assistant country manager, Save the children (UK), Dhaka

Md. Farid Alam

( Economics USA )

Directoe Teleno co. Ltd

Assistant Professor, London School, UK

Mohammed Hafezul Islam

( Finance DU )

Head of Finance BEXIMCO Dhaka

Associate Director, Finance, Oxford international school, Dhaka

Md. Farid Alam

( IT UK )

Assistance principal, Oxford international school

Teacher, Green Leaf School UK

SWOT analysis of Creative international school are given below-

Strength:

High qualified teacher

Teacher’s quality

Good learning environment

Teaching environment

Working environment

AC system class room

Weaknesses:

High risk

Teacher’s politics

Complex management

Opportunity:

Lack of English medium school

High qualified governing body

A source of social work

Threat:

Changing government rule

Competition

Lack of management

Business Goal:

The short term goal of this report is to primarily apply the determined plan of set up an English medium school. We have mentioned earlier that our main goal is to provide better education.

The long term purpose of this report is to have a clear understanding of the activities and requirements of setting up an English medium school in Dhaka. There have been many English medium schools operating in our country for the last ten years. This is a service oriented business, and there not been many formal feasibility studies on how to establish this business. This study mainly focuses on management, marketing, technical, and social economic aspect of the project.

Core Beliefs:

Three core beliefs are described below—

Low cost:

Low cost is our main belief that we will provide better education with lower cost rather than other competitors. We are going to take only 1000Tk per month as tuition fees. Every body think that English medium school is only for rich family members because of high cost, however; we are going to omit this concept from general people. Creative international school is for all kind of people in our society.

High qualified teacher:

We think that our teacher will be highly qualified because we believe that a good teacher can give best effort according to students need. As a result, when we select any teacher, we try to nominate English proficient person.

English environment:

We believe that English environment is one of complex component duo to learn English language, in addition; we will hopeful that we will be successful to create an English environment which will be benefited for students.

Supply and Demand:

There are some factors that can influence on demand of our Creative international school. Those factors are discussed below-

Tuition fees: tuition fees are one of an important factor that can influence on demand. We know that if price increase demand of something decreases that is why we have determined less tuition fees due to attract general people to admit there their child in our school.

Quality: Quality is a curtail factor for determining demand of our educational service. Every body want cheap rate but they do not avoid quality. If quality become low, demand will also be low, as a result; we always try to sustain quality.

Availability of other institutions: Demand also depends on availability of other English medium school. If number of English medium

There are also some factors that can influence on supply of our service. Since our business is providing service, that is why; it only depend on our quality service. If we provide well praised education , our school’s popularity will obviously increase.

Strategy:

Since Creative international school is a English medium school, so it should create a English environment. CIS will follow fully British education system, this is our main strategy.

Tactics:

To carry out the strategy, we are going to follow some ways. These are mentioned below-

2.1. Low cost:

Low cost is our main competitive advantage that we will provide better education with lower cost rather than other competitors. We are going to take only 1000Tk per month as tuition fees. Every body think that English medium school is only for rich family members because of high cost, however; we are going to omit this concept from general people. Creative international school is for all kind of people in our society.

2.2. Quality of education:

This is our second competitive advantage; we know that every thing depend on quality. If our teaching quality is good, we will get more popularity.

2.3. High qualified teacher:

This is our competitive advantage; we think that our teacher will be highly qualified because we believe that a good teacher can give best effort according to students need. As a result, when we select any teacher, we try to nominate English proficient person.

2.4. Location:

Location is one of big factors behind the successfulness of a business. Creative international school is situated in the center of our target market. We think that each and every student will get the benefit from it. Communication system of Dhanmondi is very good, that is why student can come to school easily

Mission Statement:

Creative International School is going to provide high quality education by highly qualified teacher with lower cost, which is going to follow British education system. We are mainly focusing on those families who have at least 20,000Tk income monthly.

Consumer analysis:

In order to learn who our potential customer is, where we can reach them, what they want and need. We can do four types of market research, but we are mainly focusing on statistical research.

To understand the number of student intake, in other words for market analysis, for the first year of operation of the school, the following data in the given table have been consulted.

Literacy Rate for Person Aged 5 Years And Above By Sex, 20002-20006

Year

Both sex

Male

Female

2005

53.89

45.93

60.10

2009

65.58

61.95

60.08

Sources: Official website of Bangladesh bureau of statistics (BBS)

www.bbsgov.org

So in Dhaka, from 2005-2009, literacy rate of children aging from 5years to 14 years had been increased by 16%.

However in Dhaka adult literacy rate, population aged 15 years and above, shows a significant increase from 2005 to 2009. In 2009 this figure for Dhaka was highest among all other District of Bangladesh.

Adult literacy rate of population aged from 15 years and above in Dhaka by sex.

Year

Both sex

Male

Female

2005

37.8

------

-----

2009

58.67

65.94

48.70

Sources: Official website of Bangladesh bureau of statistics (BBS)

www.bbsgov.org

so from the above table it can be seen that adult literacy rate in Dhaka increased by 20.87% in five years from 2005-2009

if similar trend continues for Dhaka also will create the ground for rapid increases of demand for education institutions or school.

This assumption of increasing demand can also be supported for the increase in number of schools attending schools in Dhaka.

From these trends it can be assumed and projected that in Dhaka demand for an English medium school will be higher than any other districts in Bangladesh. On the basis of such analysis the marketing strategies of Creative International School have been established.

Target Consumer:

CIS will be situated in Dhanmondi, Dhaka, initially its target is to higher, higher middle, and middle class families students from 4 -12 years. Though the schools aims are to intake students from all class in Dhaka, initially it will intake students from the following locations:-

Dhanmondi

Lalmatia

Mohammadpur

Shamoli

Shutrabad

Azimpur

Zigatola

Rayer Bazar

Thus the above areas will be considered as the primary target market, we have also segmented our market on the basis of age, Gender, Income. These are described below-

Age: We have mentioned earlier that our student will be aged at 4 years to 12 years.

Gender: Creative International School is a coeducational school; so we are concerning on both male and female.

Income: Creative International is for all class families. We are focusing on those families who have at least twenty thousand taka income.

Market Analysis:

I have mentioned earlier about our primary target market which is going to start from Dhanmondi, Azimpur, Zigatola, and Rayer Bazar. We have segmented our target market by geographically and demographically. Primarily we are not going to target whole Dhaka city, just we are going to mentioned area. Later we will target whole Dhaka city.

At the age of four to twelve students are my target markets. How many students have in my targeted area at the age of 4-12 are given below-

S. Number

Locality

Number of students

1

Dhanmondi

7450

2

Lalmatia

4960

3

Mohammadpur

5890

4

Shamoli

6700

5

Azimpur

6003

6

Zigatola

5020

7

Rayer Bazar

6720

8

Sukrabad

5620

Total

48363

We have approximated that there are fourth eight thousand three hundred and sixty three in our approximated targeted area. We have determined that if we get ten percent of the total student, we will be primarily able to start our operating activities.

At this stage, our primary target is those families who have at least 20000Tk income. For first year, our target is only ten percent of the total student, but beginning two months if we get only five percent of the total student that is enough.

We know English medium school is in the growing stage of the product life cycle because we have followed that only a few English medium schools are situated in Dhaka city. Now some of English medium school is growing up. That is why we can show our service in the growth stage.

The Marketing Mix:

We have mentioned earlier that Creative International School is a service related business. To provide quality education to its targeted age group, the proposed CIS will include the following specification with its core service delivery process-

The language or medium of teaching will be English. Also Bengali language, grammar and literature will be included in the syllabus of all class students.

The teaching method for the students of ‘Play group’ & ‘Nursery’ will be kindergarten style. The method will be updated when necessary to comply with the changes.

The teaching method for the students of Play group to Standard five will follow the teaching methods practiced in the United States.

The courses and textbooks will be chosen to comply with the teaching methods mentioned above.

For courses like history, Geography, religious studies and economics etc. concentration will be given on Bangladesh perspectives.

students will be informed and taught properly about all major national, religious and / or any other major events/ festivals in Bangladesh so that the have greater understanding and knowledge about the culture and heritage of Bangladesh.

Performance of all teachers and all other employees will be measured with 360 degree appraisal system which will ensure high standards.

The school campus will be kept clean, free of hazardous elements and elements and free from smoking. Spacious and proper ventilation, temperature and heating will be ensured.

The school will be operated incompliance with all laws of Bangladesh.

The service specifications will be updated according to the need and demand of the future whenever is necessary. English medium school is a growing concept in Bangladesh. So it is a relatively easy to identify its use.

Pricing strategy:

During the first year, we will follow the cost-plus strategy where we are going to add cost and the minimum profit. Since it is a service organization, our main goal is to providing better service no earning profit. That is why we have selected only the cost plus pricing strategy.

Promotion Plan:

The initial promotion plan for CIS will be targeted towards creating awareness among its target audiences. The following plan will be implemented for this purpose:

Advertising media: Newspaper, poster, leaflets, banners.

Public relation and publicity: News conference, Parents and children seminar, launching ceremony.

Special discount: a special discount will be given to students, if you get admitted within 6 months from the starting months.

Sales Commission: Any person including the staffs and teachers of the school who will provide 5 students in any class at a time will receive a sales commission.

These promotional plans will be carried in accordance with the overall marketing plan of the promoters.

Promoters Marketing Plan:

Initially we will set the following plans to market CIS as a unique English medium school:-

Positioning CIS as a school that follows most modern concepts of teaching and learning in every advertisement and public relation activity.

Giving the CIS and its logo a brand image through advertisement and public relation activities.

Distributing leaflets, fliers, among families of the target groups living in the surrounding geographical area for six months and once in every month for the second to sixth months.

Using attractive banners and posters in the same geographical areas in places where they will be most visible by the target group.

Arrange seminar regarding to English medium school in Dhaka. The seminar will be for parents and the children of the target customer areas. It will take place 7 days before the inaugural program of the school.

Selected students, whose performance will be below expectations, will be rewarded if they can enhance their performance within a year.

Everyday at school hours either the principal or vice principal will be available for the students and parents counseling regarding any issue.

The counselors will also act as customer service persons and will listen to any complaints from students and parents act upon it.

The marketing plans by the promoters are chiefly focused on building awareness among target customers and achieving long term relationship with them. The awareness building activities will continue hand to hand with the promotional activities to initiate positive actions from the target audience.

Break even analysis:

Break even point= Fixed cost/Unit contribution margin

=627667/1077

=582 Students

If Creative International school teaches 583 students per moths, it will get to on break even point.

Break even point analysis by Graph:

Number of St

V. Costs

F. Costs

Profit

50

$6,150

627666

10250

200

$24,600

627666

41000

300

$36,900

627666

61500

350

$43,050

627666

71750

500

$61,500

627666

102500

700

$86,100

627666

143500

800

$98,400

627666

164000

1000

$123,000

627666

205000

Sales and Customer Service:

We are going to open a service business, where we will provide education service. Our competitive advantages are quality of education, low cost, high qualified teacher, and good environment for education. Three of this are described below:-

9.1. Low cost:

Low cost is our main competitive advantage that we will provide better education with lower cost rather than other competitors. We are going to take only 1000Tk per month as tuition fees. Every body think that English medium school is only for rich family members because of high cost, however; we are going to omit this concept from general people. Creative international school is for all kind of people in our society.

Quality of education:

This is our second competitive advantage; we know that every thing depend on quality. If our teaching quality is good, we will get more popularity.

High qualified teacher:

This is our competitive advantage; we think that our teacher will be highly qualified because we believe that a good teacher can give best effort according to students need. As a result, when we select any teacher, we try to nominate English proficient person.

Location:

Location is one of big factors behind the successfulness of a business. Creative international school is situated in House no 29 Road no 2 Dhanmondi, Dhaka. We think that each and every student will get the benefit from it. Communication system of Dhanmondi is very good, that is why student can come to school easily.

FINANCE

Journal of first month:

Income statement:

Balance sheet:

Creative International School


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