Business Description
The main product at the moment is online lessons, group lessons, video lessons have also been created. There are several more projects to develop new competitive products.
BalaBolFast (BBF) is an online school for learning English and other languages. We have our own team and methodology. The peculiarity and difference from others is that it uses its own developed methodology, which has already been tested and thanks to which students of any age from scratch, on average, learn the language in 150-200 lessons (2-3 years). The bias is made on the spoken language, the lessons are always fun and creative.
The methodology itself has been created 7 years ago. But basically, the entire flow of clients came through directors and without advertising and the purpose of the investment is to make a strong emphasis on advertising and organizational issues.
It is worth noting that the profitability from the use of this methodology, both by us and by those who cooperate with us over the past 5 years, is about USD 100,000. We are confident in ourselves AND DO NOT THINK, BUT WE KNOW WHAT WE WANT.
Website: https://bbf.com.ua
We have about 125 positive reviews.
Feedback on the work of this methodology can be found:
https://preply.com/repetitor/2880
https://bbf.com.ua/prepodavateli
Strategy
- First, you need to slightly modify the website itself, improve the design and improve some products so that they are of better quality and more presentable. This can take about 1-2 months.
- In parallel, focus on finding new customers. There is already a proven system for attracting customers through social networks, which can provide about 10 new customers a month. The results can be better and this requires multiple account managers.
- Also, in these months or two, to conduct a detailed analysis of the market in order to highlight the main sources of visits to our website by potential clients, then specifically focus on work in this direction, in order to hit right on target. For this purpose, it is planned to cooperate with a campaign that will analyze and launch a sales funnel.
- Then, after the first two months and analyzing the sources of potential customers, start a powerful advertising campaign that should last about a year, the result is expected after the first six months. The expected total number of clients at the end of the year of advertising (it is worth noting that in this business clients come and usually stay for several years) is about 250 people. The expected monthly profit at the end of the year was about USD 2,000 per month. The expected total profit for the first year is about USD 15,000 or more.
- In the first year, it is planned to complete and launch new competitive products that are designed to increase profits
- In the second year, taking into account the new existing client base, projects, reputation and a clear strategy, it is planned to increase the total profit several times, since there is no need to swing here, but we will follow past practices, and in the second year we expect to receive from USD 60,000 of total income
- Also, during the second year, one of the parts of our strategy is to expand our market, and specifically to test the waters on Chinese market, where there are great opportunities and where there is a very urgent need for English, for example. We plan to start cooperation with their educational institutions and based on our reputation and name, and not only try to conclude an agreement on the development of a methodology for learning the English language for the Chinese.
- For the third year, the total income is planned to be at least USD 150,000, and the most important goal is to conclude an agreement with the Chinese, which opens up even greater opportunities in the future. In total, for three years it is planned to receive an income of USD 225,000.
Investment plan
A. Advertising
Total: USD 23,400 on average per year of promotion
B. Website Upgrade
Total: USD 5,000/year
C. Payment for services
Total: USD 29,550/year
Total: total budget for the year (required amount of investment) USD 57,950
