Chen, Cheng
(2023)
Business plan for a new star-up: EVision Overseas Education Co., Ltd.
[Dissertation (University of Nottingham only)]
Abstract
EVision Overseas Education Co., Ltd. is completely a revolutionary overseas education online service for Chinese clients who are planning to study in English-speaking countries or programs taught in English, meeting all demands of different individuals. The resources will be abundant across the globe. No matter the clients just want some soft skills program to upgrade the profile before the application, or just want some guidance from native speakers who graduated from top universities or top consultants with more than five years of working experience on essays to stand out among strong candidates, or just want a reasonable target school list, or just want consulting on problems met during school application or visa application, or want a one-stop service, EVision provides them all with high quality and efficiency, guiding, mentoring, and preparing the clients during their journey to a foreign country.
EVision will be the first one trying to maximize customers’ value by the dividable service covering all important sections of the overseas education industry chain. With the improvement of education in China as well as keeping outputting students to foreign countries for many years, the comprehensive capability and English of students and their parents have been greatly elevated. Students born in the 90s and 00s and their parents born in the 60s, 70s, and 80s are the main force of consumption in the overseas education market. Every year, there are around 700 thousand students going aboard to pursue education. At least 15% of the student have decided to DIY, but sometimes the result is not satisfying due to lack of experience. EVision intends to enter this niche market and build up the branding, and then take over the market share gradually from those big players such as EIC, JJL, XDF with pipeline service.
EVision hopes to get a total investment of 10 million RMB which can be paid in three years, the first year 5 million, the second year 3 million, and 2 million in the third year. The overseas education industry is lucrative in China, EVision can make a profit in the first year with a total predicted revenue of 21,200,000 RMB, which is more than two times the investment. In addition, the company is expected to have retained earnings of 43,960,320RMB by the end of the 5th year of operations.
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