Executive summary

We will launch an app called TeachMe. Basically, this app will be a platform for people who want
to teach, acquire knowledge or learn new skills from others. We as humans have different passions
and want to learn different skills. However, it has always been difficult to find someone who is
willing and able to teach us. There is a greater lack of trusted teachers who you can trust. This is
where TeachMe comes in.

Imagine an app which brings together people who want to learn and those who have a passion and
a desire to teach. You can create your entire revenue stream by taking advantage of a skill you had
but never gave enough thought to it because it was too daunting and did not know how to reach
people. If you want to learn something, this app allows you to choose which skill you want to
learn. Moreover, you can choose between teachers who want to teach you that skill. This app will
use your geographical location to suggest the most convenient available option for you.

Suppose Mustafiz knows how to debate and can speak well publicly. He has achieved a lot in that
aspect. And he wants to share that skill with others to get further recognition or to set up a business
for himself. Mashrafe knows how to play the guitar. He knows all the chords, techniques and tricks.
He feels confident about his abilities enough to want to teach others. But he did not know how to
find interested students before. Mehedi knows how to cook. He has a lot of spare time. He was
always looking for a way to utilize his time and use his skills. Now the app TeachMe will tell you
about more people like Mustafiz, Mashrafe or Mehedi according to your choice.

The target market for this app is anyone who is able and willing to teach skills or invest in
themselves to learn new things. Teachers can include anyone from a student right out of school
who want to teach guitar to stay at home men and women who may want to teach cooking and
earn money. Students may include school students who want a tutor for studies to older people
who are looking to learn a new language and someone who can teach them

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Table of Contents:

Index: Page no:

Executive summary 01

Business Idea 03-04

How the plan works 04-05

Market Analysis 05

Marketing Aspect 06

Feasibility 07-08

Funding Mechanisms of the business: 08-09

Mitigation of risks 10-11

Rationale for why IDLC should finance 11

TeachMe

Conclusion 12

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Business Idea
The home-screen of the app will have two options. Either you log in as a teacher or you log in as
a student.

When you log in as the student you face a number of options of the available skills that you might
like to learn. Furthermore, the student can add options for skills that don’t exist on the list of
available skills. Then the student has to select his area of residence and the region within which he
would be willing to travel in order to learn.

The app will list the skills that have available teachers within the region the student wants to learn.
The student can select the relevant skill to enter a screen which lists the available teachers for that
skill. The teachers will be listed in terms of a few factors.

The profile screen of each teacher will have information about him. The following factors affect
the placement of the teacher on that list:

 The degree to which they have been verified

Each teacher will undergo a rigorous verification process. They will first have an online profile
which they need to complete. Then they need to provide personal information about themselves.
If the individual claims to have certain degrees in the field he wants to teach, we will verify that
by seeing physical evidence. Then the individual will have to showcase his skill to one of us or
anyone we trust to be competent about the skill being taught.

This is the first criteria. If the individual does not complete the verification process he will not
receive a green check beside his name which alerts anyone who might want to learn from him that
neither the app nor the developers have verified this person.

 The rating on the videos/photos uploaded

The individual will then be required to upload videos of himself/herself showcasing his talent on
YouTube. The app will host links of the videos and the photos itself. Anyone who is viewing the
profile of the person is now encouraged to rate and review the videos and photos of the uploader.

The higher the rating and positive reviews the higher on the list is the individual placed.

 Reviews from previous students

Students who this individual has already taught will be able to rate the teacher and list any
grievances or positive reviews they have about the teacher.

The rating then will be able to determine the ranking further. Therefore, teachers will be forced to
make sure they do a good job.

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When you log in as a teacher, you find a screen which shows the areas where you are teaching.
The number of students in each area who want to study under you then shows up on the screen.
You can then interact with these students via a messaging platform inside the app itself. The
teacher talks to the students with an option to complain to us if there is a problem.

For a student to apply they have to show copies of their birth certificates and recent photos as well
as their school id card. They will also be required to provide all the standard personal information
to complete the profile. Once the student completes all this there will be a green check mark next
to the name of the student which shows that he has been verified. The teacher can also choose to
teach students who do not have a green check mark. This ensures students who choose not to
provide such certificates etc. immediately can still avail of this service. This also makes it possible
to reduce any trolls and also identify anyone who is abusing this opportunity to learn by taking
undesirable actions.

In order to ensure maximum efficiency, if there is an area where there are no teachers ready to
teach a particular skill but students interested in learning that skill exist, teachers who can teach
that skill within that particular area will be notified. This will be done by a notification alerting the
teacher once they sign up on their home-screen. Similarly, a notification will be sent to the student
who will receive a notification on his home-screen.

Therefore, it can be seen that in all exchanges all students and teachers are alerted so no time losses
take place.

How the plan works:

We will rent rooms in each part of the city so that teachers can teach there if they want to. We will
ensure the security in these places. Teachers will be required to pay us a minimum rent every
month for use of the space. However, since the rooms will be a convenient place we expect them
to avail of the services.

Teachers will have 3 options. They can:

1. Teach at home and ask the students to come to their house

2. Go to the student’s house to teach the student
3. Use our rented rooms to teach these students

Once teachers accept the students they will be asked to confirm with and update the apps as to the
students that are being taught. This allows us to keep track of each student and therefore, react
better to any misconduct.

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We will also be earning money from the subscriptions people buy each 3 months. The app will
have a trial period of 3 months and after every 3 months individuals have to purchase it.

Market Analysis:
 The market size for this product will keep on growing as long as the reach keeps increasing.
Since everyone has a skill that they wanted to learn at some point, the market for this app
is not limited by demographics. This app can simultaneously be used by young children
who want to learn new skills such as playing the guitar or middle-aged people who are
bored and believe they are wasting time so choose to invest in themselves
 There is a focus in the job market and hence in educational institutions to build up the
skillsets that people possess. This is because the jobs are becoming more dynamic and even
skills like playing the guitar can allow you to build connections which could be incredibly
useful. Thus, this makes platform allows those who want to teach and those who want to
invest in themselves a chance to connect by capitalizing on current trends.
 The profit in this business grows exponentially as its customer base keeps increasing as
explained below. The initial profit structure will not be very high however gradually the
profit will start increasing rapidly
 The key factors for which the current market is the perfect time to do this are:
> The target market which is made up primarily of students is very adept at using the
internet. They are going to be able to use this very easily and are used to interacting with
others over the internet. Therefore, this is going to allow this business to flourish.
> The larger this business grows, the lower is the average cost of operation. Therefore, the
greater the expected funding, the greater is going to be the profit. Since the rooms are to be
rented, a greater number of students will be coming in eventually. So, cost would remain
the same while profit rises. Eventually as the app grows larger the profit keeps rising.
(A detailed financial breakdown is provided below)
>The amount of property ownership by our company is minimal. This makes sure the costs
are minimized while the primary purpose of the app which is to connect the teachers and
the students is served. All parts of the app are designed to facilitate contact between the
students and the teachers so wastage is minimized.

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Marketing aspect:
1. Product: This app will be available for download on the Google Playstore. This will be termed
as an educational and organizing application which acts as a platform to connect tutors of different
skills to the students.

2. Place: Zones which are called TeachMe-zones will be there in 10 different localities. These are
basically a collection of three rooms which our company will rent where the teachers can teach.
The areas are: Dhanmondi, Mirpur, Cantonment, Farmgate, Uttara, Mouchak, Motijheel,
Bashundhara, Banani and Jatrabari.

3. Price: The app will have a 3 months trial period, then users will have to purchase a subscription
every 3 months to continue using the app.

There will be a different pricing strategy for the teachers who will be using the rooms we are
offering. This will be explained later.

4. Promotion: This will be done through social media and newspapers. For the first 6 months, we
will be advertising on newspapers making sure that the advertisement is central enough to be
visible. This will help us reach the older crowds which allows us to reach middle-aged people who
we will then be able to attract to the app.

After the first 6 months we shall continue advertising on Facebook as sponsored ads. This makes
sure we can keep connecting to the younger generation of users who shall be our primary target
market

However, we shall be using our university connections as the driving force behind this app. We
are relying on the word of mouth to build the credibility of this app. As we are recent graduates
we have a network of juniors and seniors we know who we can ask to share our Facebook page
and let people know about the app. We are going to start to do this from the very start.

Initially we shall ask our juniors and a group of people to beta test our app. This lets us have a base
of people who can then share knowledgably their perception of the app. Moreover, it lets us know
which areas to work on so by the time we publicly reveal the app it can be very user-friendly.
Mostly however, we shall use this group of users to tell their friends and family about it and start
letting people know about the app. This shall of course be a continuous process so we can expect
our juniors, seniors and our friends to be a constant source of promotion. Given that they are the
primary users of this application, this will be very useful.

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Feasibility:
SWOT analysis:

Strengths of our business: The business allows people to reach their maximum potential by
allowing them to fully explore their skills. People would otherwise be wasting their skills. Here
they have a chance to potentially earn a living from using skills which would otherwise be wasted.
So, people would want to avail of this app.
multiple teachers willing to teach the same skill may be teaching in the same area. The competition
to get better students would ensure the quality of teaching is consistently high and keeps getting
better.
It is an easy app to use with pretty obvious controls and very simple concept. The tech savvy
generation which dominates the market today is going to be able to use this app easily and
therefore, prefer using it. Moreover, today’s generation prefers a flexibility of options, ranging
from flexible timings to a plethora of options in choosing how to study and learn. If they like one
teacher they can stay with them otherwise, they can go to other teachers.

Weaknesses: A lot of effort needs to be put into creating awareness for the app. This has to be
done by a lot of promotion efforts which are feasible and can be done as mentioned above but
would require a lot of work. Initially the return on investment will not be as high since the business
depends upon more and more people coming in to make it highly profitable. Unverified accounts,

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high startup costs and a possible reluctance to share personal information by users are all problems
that are mitigated by measures taken but still present weaknesses to the app.

Opportunity: The market for this app will rise rapidly. This is because we are targeting a very
large demographic with a very unique application. This demographic includes people of all ages
and since a large number of skills will be taught here it is a great opportunity to invest in this
market since the growth potential is very high

Threats: There are similar apps that exist already even if none of them have the same concept nor
the same range of uses as this app. If these apps are confused with our app our target market
decreases. Moreover, this app is easy to copy. So there exists a risk that this market could be
entered easily. Everything depends upon the server which hosts this app. If the server crashes then
the app will no longer work and therefore will be unavailable to users. This is a crucial problem
which has to be contained and ensured that it does not affect the overall business.

Funding Mechanisms of the business:

Debt-Equity:

As we are recent graduates, we do not have enough funds to finance the entire firm. However, we
will provide Tk 10,000,000 combined. So, the rest of the funds (Tk 46,868,100-55,768,100) will
have to be provided by IDLC. We will provide sufficient collateral as per requirement.

Estimated Budget:

Particulars of Expense Cost(Tk)

Development of the Application 800,000-1,000,000
Development of the Website 800,000-1,000,000
Maintenance of the Application 250,000 (5years)
Maintenance of the Website 250,000 (5years)
Office Rent 6,000,000 (5years)
Internal Server 500,000
Employees (6) 1,800,000-3,000,000 (5years)
Guards (4) 600,000 (5years)
Workstation 600,000 – 800,000
Furniture 200,000
Utility 900,000 (5years)

TeachMe-Zones’
TeachMe-Zones’ rent (10 locations) 18,000,000- 24,000,000 (5years)
Furniture 1,000,000

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 CCTV 200,000-300,000
Fans/ AC 2,000,000
Lights 50,000
Boards 50,000
IPS (1200W) (10) 500,000
Caretaker (10-12) 5,000,000-6,000,000 (5years)
Guards (15) 7,200,000 (5years)
Misc. Expenses 3,000,000
Utility 3,000,000

Advertisement:
Newspaper Ads (twice a month for 20months 2,000,000
in 5 newspapers)
Facebook Ads (29,200) 1,401,600
Online Ads (21,900) 766,500

Total 56,868,100-65,768,100

Per TeachMe Zone has three rooms(approx.), one of the room has the capacity to hold six students
and the other two have the capacity to hold ten students. We are going to charge Tk 210 for the
smaller room and Tk 350 for the other two rooms, for each shift. We will have five to six different
timings, in which the teachers can take their classes. The classes should be 1.5hours long and there
will be a 30mins break in between, so that no two teacher’s classes clash. The timings are like: 8-
9:30, 10-11:30, 12-1:30, 2-3:30, 4-5:30 and 6-7:30.

Per Shift Earnings (Per Zone): Tk910

Earnings per Day (Per Zone): Tk 5,460

Earnings per Month (Per zone): Tk 120,120 (Assuming that there are 22 working days in a month)

Earnings per Year (Per Zone): Tk 1,441,440

Total Earnings per Year: Tk 14,414,400

Total Earnings (5years): Tk 72,072,000

Subscriptions for 3months (per person): Tk 300

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Mitigation of risks:

The probability or threat of loss, damage or negative occurrence which arises from various internal
and external uncertainties and vulnerabilities are called risks. These can be avoided through
anticipatory measures. Since TeachMe is a platform to connect and organize service providers and
receivers, there are only a few major risks associated with it. The risks faced by TeachMe are noted
below:

1.) Strategic Risks: Strategic risks arise when our plans and strategies fail to adapt
according to the changing conditions. Such risks may arise if any new technology
emerges and the customer preferences shift to that technology. This will result in the
loss of our effectiveness and efficiency in serving the customers with what they need.
How to mitigate: In order to avoid such strategic risks, our business plan is designed
to be as adaptive as possible. So, we can shift our focus according to the changing
conditions and avail ourselves of the newest trends to meet the demand.
2.) Compliance Risk: The risks that may affect the business due to changes in laws and
government policies are compliance risks. Since laws change all the time, we may need
to follow additional regulations in future. Any change in the legislative agenda may
increase our operational costs. If the government determines a price ceiling on the rent,
then our cost regarding the TeachMe-Zone project will drastically increase.
How to mitigate: The top officials of our company will keep up to date with the legal
environment of the country. So, whenever there is a hint of any major change, we will
formulate plans to counter the negative effects.
3.) Operational Risk: The failure in day to day activities are termed as operational risks.
Since ours is an internet based platform, any kinds of technical malfunction, like server
outage will obstruct our service providing capabilities? Apart from these, clerical
errors, numerical errors and careless staffs might impede our progress.
How to mitigate: As a preventive measure against technical breakdown, backup
servers will be dedicated to ensure support 24/7. An efficient hiring system will
guarantee the efficiency of the employees.
4.) Financial risk: Shortage of funds, increase in debts and not acknowledging our support
are the financial risks. At times, we may encounter shortage of cash or funds. Increase
in our debt may also put us at risk. If anyone attempts an unethical approach by not
acknowledging our service and refusing to honor our agreement, the situation will
expose us to severe monetary risks.
How to mitigate: A thrifty and sophisticated internal monetary system will reduce the
risks related to fraudulent activities, debts and funds. We will make sure that the
payment is made in installments so that there are lesser chances of loss. In case of any
refusal or breach of agreement, that person will be banned from our initiative.
5.) Reputational Risks: Lawsuits and negative publicity might put us to risk. This might
damage our reputation. If someone talks publicly against us in social media, it will be
very hard for us to recover.

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 How to mitigate: The top officials will have to be extra vigilant and take necessary
measure as to remain clear of any types of issues that might give rise to conflicts and
lawsuits. We will conduct a periodical survey on our users about their satisfaction. This
will include a section where they will provide us with constructive criticism and their
opinions. This will enable us to improve our services and fulfill their needs just the way
they want.
6.) Other risks: In case of any unusual occurrences, such as sexual harassment, that
might be related to our company’s operations, we might face suspicion even though
we had no involvement with it. Imagine a case such as a sexual harassment of woman
in a place where we don’t even offer our services. That may destroy the perception of
the tutoring industry as a whole.
How to mitigate: However, even if it does happen it is an isolated and random
occurrence one which we can do nothing about and would try our best to dissociate
from by condemning it in our app and our website. Moreover, we shall ask teachers to
follow strict rules of conduct and regularly ask students for feedback and any
complaints they may have. Any teacher or student suspected of such activities will be
banned immediately and appropriate authorities informed

Rationale for why IDLC should finance TeachMe:

According to the calculations above the payback period for the business is about 5 years. However,
this does not even consider the number of people who will be buying the subscription and the
revenue from the advertisements hosted on it. Considering the promotional schemes currently
available to us and the possibilities for expansion it is reasonable to assume that the subscription
numbers should be quite high. Therefore, the payback period should decrease by a lot.
The market consists of a large number of teachers and students who would not normally interact
with each other because of asymmetric information. This app taps into that potential by organizing
it and allowing the two parties to find each other.
We are the pioneers in this field so we have no competition from the same kind of business. The
maximum opposition is from businesses like 10 minute school, Mentors, Udvash etc. However,
TeachMe is primarily a platform to connect the teachers and the students which is not the same as
Mentors or 10 minute school. 10 minute school and Mentors do not provide for the financial
presence of the teachers which is something that our company does provide when it connects the
teachers to the students. Moreover, the wide range of skills that students can potentially learn is
massive. Our platform simply connects them to the teachers who would teach them.

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Conclusion
TeachMe is meant to primarily be a platform to allow individuals who want to and are able to
teach certain skills to interact with individuals who want to learn these skills. It is exclusive from
anything else in the market right now. It takes advantage of the current market which is full of
individuals who are dynamic and want to acquire more skills. It creates a lot of employment
opportunity for those people who want to teach and earn enough money to support themselves.
If IDLC funds this project, conservative estimates of the numbers alone show that it is going to
grow exponentially. This is not a short-term investment. Primarily because the awareness and etc.
will take a long time to properly exist. However, the project should grow very rapidly after the
initial awareness is created. Therefore, it is a good investment option.

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