Planning Your Business

This paper offers a corporate roadmap for a new education sector that could be of interest to prospective clients, partners, and government agencies.

The proposed enterprise is an English school for immigrants who are either living in or preparing to move to the United States for some reason. The primary aim of the company is to help people improve their ability to engage with locals in various aspects of their lives (work, community, family), socialize, and find their place in American society. The financial and company target (as this is a commercial project) is to expand by 10% each year, create a brand, and capture 5% of the market in three years. The opportunity of opening online English school is very promising due to high interest by foreigners to education in American high schools and universities, temporary and permanent work in local companies or migration to the US. As well, they usually clearly understand the importance of language for achieving their goals. The online format of teaching meets modern requirements to flexibility, availability, and convenience of education, what especially important in the education of adults.

For organizing initial business, it needs 3 months, the same time required for taking every next step on size scale. Main advantages of planned business for society are better understanding between people and therefore more efficient disclosure of their potential, specific as well as their special background and talents. We see the mission of the business as to give foreign human resources ability to do its best for American society.

The key role in business success will play experience of the management team, who has 10 years of previous practice in teaching language to migrants and enrollees as well as administrating such activities. Around available tools, management has bases of investor and client contacts, membership in language teaching associations, and developed relations with high schools and universities.

Estimated capital for such business beginning is around 30,000$ The main expenditures are software for online teaching, staff hiring and its monthly salary, marketing, licensing, and next qualification upgrade (StudyCELTA, n.d.).

The staff required for stable functioning during the first year includes 10 (8) people: 5 teachers, administrator, accountant, lawyer, HR manager, marketing manager. Some functions may be merged and delegated to one person (administrator + accountant; HR manager + marketing manager). That structure of staff is optimal as at the beginning the amount of revenue available for staff not teaching (and not giving revenue directly) will be limited, at the same time amount of work in accounting and HR will not be that much. Formal documents and licenses the school needs to provide its services include TEFL/TESOL certification for all teaching staff.

Regarding services, the school will provide:

individual and group online classes for migrants on general English;

preparation for language exams for foreign students;

business English and consulting about job searching for newcomers.

In the top management structure at the beginning due to low scale of business, I plan to be an owner, administrator, and accountant. An important detail is that I have enough qualification and money to perform that. With the business growth, the last role will be delegated, the ownership may be also shared with some partners.

Conclusion

Online English school is a profitable business with high potential that requires relatively few resources at the beginning (as online service). As well, this business choice has good fundament – competences of its owner and core team. Strategic planning and statements in this document will be fundamental for making mid- and short-term managerial decisions.

References

StudyCELTA. (n.d.). Part 1: An overview of how to open your own English language school. Retrieved on April 11, 2017, from https://www.studycelta.com/blog/blog/open-english-language-school/how-to-open-your-own-english-language-school