開設幼兒園之商業企畫書 - 政大學術集成

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(1)國立政治大學商學院國際經營管理英語碩士學位學程 International MBA Program College of Commerce National Chengchi University. 政治大. 學. ‧ 國. 立碩士論文. Master’s Thesis. ‧ er. io. sit. y. Nat. n. al 開設幼兒園之商業企畫書 iv Ch. n U engchi. Business Plan to Establish a Pre-School. Student: Nombuso Takhona Bhila Advisor: Professor Jack Wu. 中華民國一O六年六月 June 2017.

(2) 開設幼兒園之商業企畫書 Business Plan to Establish a Pre-School. 研究生：林芯嵐. Student: Nombuso Takhona Bhila. 指導教授：吳文傑. Advisor: Jack Wu. 政治大. 國立政治大學. 立. 碩士論文. 學 ‧. ‧ 國. 商學院國際經營管理英語碩士學位學程. A Thesis. sit. y. Nat. Submitted to International MBA Program. er. io. n. National Chengchi Universityv a. i l C n h e n gofctheh Requirements i U in partial fulfilment for the degree of Master in Business Administration. 中華民國一O六年六月 June 2017.

(3) Acknowledgements First and foremost, I give thanks to Almighty God for providing me with the opportunity to further my studies in Taiwan. My Mother, who is my pillar of strength, for motivating and nurturing me with love, and providing guidance in my journey through life. My advisor Professor Jack Wu who dedicated his time, expertise and guidance from commencement of my business plan to completion. My Sisters who provided mentorship and ideas on business and life in general.. 立. 政治大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. iii. i n U. v.

(4) Abstract Early childhood care and education is one of most fundamental elements on children journey. Although it looks irrelevant, children need it as a passage to use to begin developing their brains educationally as well life skills in generally. Swaziland has been neglecting early childhood care and education for a in the past, however, the situation has changed and now the Swazi government is getting involved through developing policies that support Early Childhood Care and Education. Tomorrow People Academy seeks to provide pre-school education in Swaziland with multiple enrollment programs, to cater for the different kinds of educational needs for the Swazi market. The business plan will present factors on how the Swazi government has moved from not supporting Early Childhood Care and Education to setting up and implementing structures that supports it. The business plan will then present paramount. 政治大. factors that are needed for the success in such an industry.. 立. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. iv. i n U. v.

(5) Table of Content 1. Executive Summary ............................................................................................................... 1 1.1. Problem ........................................................................................................................ 1 1.2. Solution........................................................................................................................ 1 1.3. Market .......................................................................................................................... 2 1.4. Competition ................................................................................................................. 3 1.5. Why us? ....................................................................................................................... 3 1.6. Vision and Mission ...................................................................................................... 4. 1.6.2.. Core Values ................................................................................................ 4. 學. 1.6.3.. 政治大 Mission....................................................................................................... 4 立 Vision ......................................................................................................... 4. ‧ 國. 1.6.1.. 1.7. The management Team ............................................................................................... 6. ‧. 1.7.1.. Cindy Bhila ................................................................................................ 6. Nat. 1.7.3.. Nombuso Bhila .......................................................................................... 6. 1.7.4.. Supporting Personnel ................................................................................. 6. n. al. er. sit. y. Nokwanda Bhila......................................................................................... 6. io. 1.7.2.. Ch. engchi. i n U. v. 1.8. Financial Expectation .................................................................................................. 7 1.8.1.. Forecast ...................................................................................................... 7. 1.8.2.. Financial Highlights by the year ................................................................ 7. 1.8.3.. Financing Needed ...................................................................................... 7. 2. Tomorrow People Business Model ........................................................................................ 8 3. Marketing Analysis ................................................................................................................ 9 3.1. Industry Analysis ......................................................................................................... 9 3.1.1.. “Past” Overview of Swazi Education Industry .......................................... 9. v.

(6) 3.1.2.. “Current” Overview of Swazi Education Industry .................................. 10. 3.1.3.. Market Demographics .............................................................................. 12. 3.2. Market Summary ....................................................................................................... 16 3.2.1.. Needs and corresponding Benefits of People of Tomorrow .................... 16. 3.2.2.. Solution .................................................................................................... 17. 3.2.3.. Key to Success ......................................................................................... 17. 3.3. Critical Issues ............................................................................................................ 17 3.4. Strength’s, Weakness, Opportunities, Threats Analysis............................................ 18. 政治大 Middle to high 立 Income Earning Families ................................................ 20. 3.5. Target Market ............................................................................................................ 19. 3.5.3.. High Earning Single Parents or Guardians .............................................. 20. 學. 3.5.2.. ‧ 國. 3.5.1.. Full Time working parents or guardians .................................................. 21. ‧. 3.6. Competition ............................................................................................................... 21. y. Nat. Key competitors ....................................................................................... 21. sit. 3.6.1.. n. al. er. io. 3.7. Differentiation Strategy ............................................................................................. 23. i n U. v. 3.7.1.. Service Flexibility .................................................................................... 23. 3.7.2.. Innovative and creative learning program’s ............................................ 24. 3.7.3.. School Facilities ....................................................................................... 26. 3.7.4.. Safety ....................................................................................................... 26. 3.7.5.. Marketing ................................................................................................. 27. Ch. engchi. 4. Marketing & Sales ............................................................................................................... 28 4.1. Marketing plan ........................................................................................................... 28 4.1.1.. Product ..................................................................................................... 28. 4.1.2.. Pricing ...................................................................................................... 30. vi.

(7) 4.1.3.. Place ......................................................................................................... 33. 4.1.4.. Marketing Communication ...................................................................... 33. 4.1.5.. Positioning ............................................................................................... 34. 4.2. Sales Plan ................................................................................................................... 34 5. Operations ............................................................................................................................ 36 5.1. Location ..................................................................................................................... 36 5.1.1.. School location......................................................................................... 36. 5.2. Facilities..................................................................................................................... 37 5.2.1. 5.2.2.. 政治大 Equipment立 and tools ................................................................................ 37 Technology .............................................................................................. 37. ‧ 國. 學. 6. The Company ....................................................................................................................... 38 6.1. Business Type ............................................................................................................ 38. ‧. 6.2. The Personnel Plan .................................................................................................... 38. y. Nat. 6.2.2.. Teachers ................................................................................................... 38. 6.2.3.. Administration Officer ............................................................................. 39. 6.2.4.. Housekeeper ............................................................................................. 39. 6.2.5.. Driver ....................................................................................................... 39. 6.2.6.. Cook ......................................................................................................... 39. n. al. er. sit. Managers .................................................................................................. 38. io. 6.2.1.. Ch. engchi. i n U. v. 6.3. Management Team .................................................................................................... 40 6.3.1.. Management Summary ............................................................................ 40. 7. Development plan ................................................................................................................ 41 7.1. Immediate Future ....................................................................................................... 41 7.2. Distance/extended Future .......................................................................................... 41. vii.

(8) 7.2.1.. Home school ............................................................................................ 41. 7.2.2.. Online School........................................................................................... 41. 8. Exit Strategy......................................................................................................................... 43 9. Financial Plan....................................................................................................................... 44 9.1. Forecast ...................................................................................................................... 44 9.1.1.. Key Assumptions ..................................................................................... 44. 9.1.2.. Revenue by month ................................................................................... 45. 9.1.3.. Expenses by month .................................................................................. 45. 政治大 9.2. Financing ................................................................................................................... 47 立 Net Profit by year ..................................................................................... 46. 9.2.1.. Uses of Funds ........................................................................................... 47. ‧ 國. 9.2.2.. 學. 9.1.4.. Sources of Funds ...................................................................................... 49. ‧. 9.3. Statements .................................................................................................................. 50. y. Nat. 9.3.2.. Projected Balance Sheet (US$) ................................................................ 51. 9.3.3.. Projected Cash flows(US$) ...................................................................... 52. n. al. er. sit. Projected Profit and loss (US$)................................................................ 50. io. 9.3.1.. Ch. engchi. i n U. v. 10. Appendix ............................................................................................................................ 53. viii.

(9) List of Figures and Tables List of Figures Figure 1 Revenues, Expenses, Profit graph ............................................................................................ 7 Figure 2 Population graph ..................................................................................................................... 13 Figure 3 Child bearing rate graph ......................................................................................................... 13 Figure 4 Average salaries...................................................................................................................... 15 Figure 5 Business cycle stages .............................................................................................................. 17 Figure 6 Target market.......................................................................................................................... 20 Figure 7 Development Timeline ........................................................................................................... 42 Figure 8 Monthly revenues projections ................................................................................................ 45. 政治大. Figure 9 Monthly expenses projection .................................................................................................. 45 Figure 10 Profit projections .................................................................................................................. 46. 立. Figure 11 Start-up capital cost .............................................................................................................. 47. ‧ 國. 學. Figure 12 Start-up expenses .................................................................................................................. 48 Figure 13 Capital financing .................................................................................................................. 49. ‧. List of Tables. Table 1 Financial Projection ................................................................................................................... 7. y. Nat. sit. Table 2 SHIES ...................................................................................................................................... 15. er. io. Table 3 Needs and benefit..................................................................................................................... 16. al. v i n Ch Table 5 Full time tuition fee.................................................................................................................. 30 engchi U Table 6 Tutoring fee.............................................................................................................................. 31 n. Table 4 Competitors strength and weakness ......................................................................................... 23. Table 7 One day course fee ................................................................................................................... 31 Table 8 One day course fee ................................................................................................................... 32 Table 9 Food fee ................................................................................................................................... 32 Table 10 School Intake ......................................................................................................................... 44 Table 11 Yearly Increase on Prices (Revenue) .................................................................................... 44 Table 12 Yearly increase on Intakes (Target Market) .......................................................................... 44 Table 13 Yearly increase on general expenses ..................................................................................... 44. ix.

(10) 1. Executive Summary Tomorrow People Academy Tomorrow People will be a privately owned pre-school or kindergarten that will provide care and educational service to children between the age of two years to 6 years. It will base its operation in Mbabane Swaziland and it will be owned by three sister in which two of the have an extensive experience in children’s education.. 1.1. Problem Attaining freedom in choosing the enrollment plan for your child is one major attribute that. 政治大. most alternatives preschool lacks in Swaziland. Preschools in Swaziland offer consumers a. 立. fixed enrollment plan. A fixed enrollment program entails that children attend school for half. ‧ 國. 學. a day, that is from 8:00am to 1:00pm. After close of operational hours children idly waits for parent and parents are generally charged extra if they take more than an hour to fetch children. ‧. from school after close of business.. sit. y. Nat. io. er. Consumers are now looking for a flexible, convenient yet highly educational as well as safe. al. place to enroll their children while they are away from them during the day. Flexibility not. n. v i n only in the enrollment plan but alsoC in h the operational hours e n g c h i U of the school. 1.2. Solution. Flexibility in time is Tomorrow People Academy’s unique attribute which will then enable the school to offer multiple enrollment plan: Tomorrow People Academy will not only offer the standard fixed enrollment plan in which only encompasses enrolling children to attend classes only from 8:00am till 1:00pm, the school will go a step further and offer part time enrollments which will encompasses enrolling children for tutoring programs as well as for a one day course or certain days depending on the customer.. 1.

(11) Tomorrow People will also incorporates its flexibility on the day care center. The day care will be in two forms: one in which the child is brought to us and taken care through the day; the other is which a Nanny is provided to go to the client home and take care of the child from there. In both forms, the well-being and safety of child is put first, the child minders or Nannies are scrutinized before allowed to take care of children.. 1.3. Market The market is relatively untapped, in Swaziland early childhood care and education centers are in the form of preschools or neighborhood care points. About 22 % of the preschool going. 治政 age children have access to early childhood education. Tomorrow 大 People will employ 立 strategies that will give them a competitive edge which will then enable them to exploit the ‧. ‧ 國. 學. market.. Tomorrow People will be targeting two kinds of customers: The first one are those parents or. Nat. al. er. io. not to put a price tag on the education and safety of their kids.. sit. y. guardians that will wish to enroll their children on a full time basis. These market is willing. n. v i n The second type are those parents orCguardians that will wish h e n g c h i U to use our services when the. need arise, that is, they either drop in the child, or they require that our services be brought to them at their homes. The secondary market will also incorporates part time tutoring which will also accomodates student from other schools that needs our services.. 2.

(12) 1.4. Competition There are already established businesses in Swaziland that almost provide similar services as Tomorrow People, that is, they provide fixed term enrollment plans that promises safety and education for the child. However our economical prices as well as our flexibility feature of the enrollment plan, creativity in our educational program and safety and well-being of our customer appeals to the segment that we are targeting.. 1.5. Why us?. 政治大 with with additional attributes that contributes to on the concept of child education. Through 立. Although child education in Swaziland is not a new concept, Tomorrow People has came up. ‧ 國. 學. adding enrollment flexibility Tomorrow People is will be providing a platform of further nurturing children in exploring their creativity. It will be also solving the time issue. Solving. ‧. io. sit. Nat. someone else to look at their children between 1:00pm till 5:00pm.. y. the time issue will relieves parents especially full time working parents of the worry to hire. n. al. er. Two out of the three managers have solid foundation in child education, they are qualified. Ch. i n U. v. educator and teachers by profession. The other manager have a degree in accounting and. engchi. have acquired accounting and other cash management skills. These skills possessed by managers guarantees the success of Tomorrow People.. 3.

(13) 1.6. Vision and Mission 1.6.1. Vision “Nurturing the growth of a child’s mind through encouraging creative thinking as well as providing the opportunity learn from their teachers, peers as well as from their natural surroundings”. 1.6.2. Mission “To provide a safe and fun place for excellent childhood education while enhancing the development of the whole child”. 立. 1.6.3. Core Values. ‧. ‧ 國. Safety. 學. •. 政治大. As we provide a place for learning, excitement and creativity, we want to assure parents and. Nat. sit. y. guardians that our school will have safety measures in place to protect their children. First. n. al. er. io. and foremost the school’s location will be in one of the safest place in Mbabane and it will. i n U. v. have proper fencing and securities to ensure that children within the school premises. The. Ch. engchi. school will also use safe tools for learning. The ratio of teacher to student will be 1:8 and this will make the children more manageable and easier to look after.. Learning. Tomorrow People prides themselves in providing an excellent learning environment for children. The school will not only use prescribed children textbooks but it will also use the latest technologies as well use natural surroundings to encourages learning. Tomorrow People will also encourages learning through peer learning.. 4.

(14) •. Excitment. One of the school’s believe is that learning is fun. The school will strive to make learning to be exciting for children. It will incorporates tools and textbooks that will not only be educational but fun for children to use. •. Creativity. We want to provide a platform for children explore their creativity and curiosity. Selflearning and learning from natural surroundings is highly encourage in the development of the overall child.. 立. 政治大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 5. i n U. v.

(15) 1.7. The management Team People of Tomorrow will be founded by three partners:. 1.7.1. Cindy Bhila Cindy Bhila is a Teacher by Profession. She has extensive teaching experience, that is, she has taught at primary Schools for over ten years and at high schools for over five years. She has a Master’s degree in Arts and Humanities’ as well a Bachelor’s degree in Art and humanities from the University of Swaziland. She also have a Post Graduate Certificate in Education (PGCE).. 立. 1.7.2. Nokwanda Bhila. 政治大. ‧ 國. 學. Nokwanda Bhila is a Professional Teacher, who has a Bachelor’s Degree in Arts and. ‧. Humanities from the University of Swaziland as well as a Post Graduate Certificate in. y. sit. io. n. al. er. primary school.. Nat. Education. She has taught Montessori Primary in Swaziland, which is a privately owned. 1.7.3. Nombuso Bhila. Ch. engchi. i n U. v. Nombuso Bhila has experience in customer service, Sales and Marketing as well as Accounting and tax. She has an IMBA from Chengchi University as well as a Bachelor’s Degree in Accounting from the University of Swaziland.. 1.7.4. Supporting Personnel Teachers and caretakers will be hired and then enrolled into necessary courses for selfimprovement as well as for the kids and school.. 6.

(16) 1.8. Financial Expectation 1.8.1. Forecast Tomorrow People have the following financial projection:. Revenues Expenses Profit/Loss. Table 1 Financial Projection 2019 2020 $267 619 $288 014 $214 912 $220 473 $52 707 $67 541. 2018 $223 601 $202 177 $20 884. 2021 $310 128 $221 036 $89 092. 2022 $334 120 $227 557 $106 563. 1.8.2. Financial Highlights by the year. 治政 Revenue, Expense, Profit/loss 大立. 400000. 300000 250000 200000 150000. ‧. ‧ 國. 學. 350000. 2019. a Revenue l n. 2018. sit. io. 0. 2020. 2021. er. 50000. y. Nat. 100000. Expenses Profit/Loss C hengchi Un. iv. 2022. Figure 1 Revenues, Expenses, Profit graph. 1.8.3. Financing Needed Tomorrow People will approximately need $84,000. The founders will contribute a total of $34,000 at a ratio of 1/3. The school will then solicit the remaining $50,000.00 from the bank.. 7.

(17) 2. Tomorrow People Business Model Key Partners Miss Nombuso Bhila Finance and Marketing Advisor. Key Activities Full time education Teaching kids on a full time basis. Miss Nokwanda Bhila Child education expert Miss Cindy Bhila Child education expert. Tutoring Program Providing after school teaching One day Program Child caring and teaching for randomly dropped kids. io. n. al. Channels School Child education and other services will be provided in own school premises. Ch. engchi. y. sit. Nat. Key Resources Fixed assets Equipment's and tool's employed in the provision of child education Personnel's Teachers and key partners that assist in the administering child education and creation of flexibility. Revenue Streams Tuition Tuition fees from full time as well as part time tutoring and drop in's Transportation Transportation fees from full time as well as part time tutoring and drop in's Food Food fees from full time as well as part time tutoring and drop in's. ‧. ‧ 國. 政治大. 學. Cost Structure General and admini strative This will include salaries, rent, marketing as well as depreciation. Customer Relationships Personal assistance Customers will communicate directly with company representatives Dedicated Personal ass istance For maintaining a good relationship in the long run, customers will communicate directly other major company representatives, like the key partners. er. 立. Value Proposition Education and Flex ibility Offering children’s education in a flexible criteria at a competitive price. i n U. v. Customer Segments Middle to high Income Earning Families They value child education and are willing to pay for it High Earning Single Parents or Guardians They do have too much flexibility in taking of spending time with their kids and are willing to invest on their children's education as a way to balance time spent away from their kids Full Time working parents or guardians They are willing to invest their children education as way to compensate for not spending too much time with their kids. 8.

(18) 3. Marketing Analysis 3.1. Industry Analysis 3.1.1. “Past” Overview of Swazi Education Industry In the Past, Swaziland did not have a lot of pre-school and day care. The norm was to leave young kids with their grandparents during the day. Although this seemed effective and good for family and social bonding as well as providing a safe environment for the kids, however this did not developed the kids educationally. Their minds were not nurtured and developed to provide a smooth transaction from home education to primary education.. 政治大. Some of the major factors that contributed to such an environment included:. 立. ‧ 國. 學. Poor economic status – Swaziland unfavorable macroeconomic conditions in the country have resulted in constrained domestic resources in the education sector. Economic growth was. ‧. persistently slow at 0.9% and the fiscal deficit is widening. The overall deteriorating fiscal. sit. y. Nat. condition led to the decline of budgetary allocation to education. Resource allocation to. al. n. percent in 2004/05.. er. io. education declined from over 25 percent of total public spending in 1999/2000 to below 21. Ch. engchi. i n U. v. Health issues of the Swazi Population - The HIV/AIDS pandemic negatively impacted the education system in Swaziland and this resulted in higher costs for basic education. The number of orphans rapidly increased. Furthermore, the illness had a negative effect on educators and on the systems and institutions responsible for providing educational services. The HIV prevalence has contributed towards Swaziland low life expectancy at birth of 48.8 years. During 2012, Swaziland recorded the highest prevalence of HIV in the world of 26.5% (WHO report 2012).. 9.

(19) Lack of Government Support - The role of government with regards to early childhood care education in the year 2000 was limited to regulation of the sub sector. Its provision was entrusted upon communities, churches and individuals. The ministry of Education and Training was not responsible for training, recruitment and engagement of preschool teachers as well as their remuneration. Pre- primary education was not a prerequisite for entry into primary.. 3.1.2. “Current” Overview of Swazi Education Industry Swazi government have put policies and structures in place that have tremendously improved. 政治大. the Swazi education industry as a whole. Some of the actions taken by the Swazi government. 立. included joining the international commitment to Education for All which was launched in. ‧ 國. 學. Jomtien, Thailand in 1990 to bring the benefits of education to “every citizen in every society.” This commitment was reaffirmed in Dakar, Senegal in April 2000 and then again in September. ‧. 2000, when Swaziland, among 189 countries and their partners, adopted the education for all. y. Nat. n. Ch. engchi. er. io. al. Public Financing on Education Industry as a whole.. sit. goals with the key target of universal primary education.. i n U. v. The Government of Swaziland has over the years made huge investments in Education. On average, about 6% of Swaziland’s’ Gross Domestic Product (GDP) goes toward education. The proportion of the annual government budget devoted to education has been about 17 % average over the reporting period. This proportion is slightly higher than that set by for United Nation educational scientific and cultural organization developing countries like Swaziland. It ranks amongst the highest in Africa and many of the goals set at the world summit for children in 2000 are being achieved. Public expenditure on education has been fluctuating over the reporting period. It reached its highest in 2005 (21.3%) 10.

(20) This increases in public financing on Education by the Swazi government are a positive attribute towards Tomorrow People academy because this will relieves some of the cost of education that is supposed to be bared by the school. Initiatives by the Swazi government to improve Early Childhood Care Education industry include:. Improved monitoring and supervision of ECCE. This has been through restructuring and strengthening of the ECCE inspectorate at headquart. 政治大. ers and regional offices as well as through the recruitment of a curriculum designer. The Mini. 立. stry is able to provide professional guidance through inspectors who supervise all educational. ‧ 國. 學. programmes at this level of education. The Ministry is now able to provide professional gui dance in the form of inspectors, who supervise all educational programmes at this level of ed. ‧. ucation.. y. Nat. er. io. sit. Training of ECCE teachers. al. v i n C h Teacher Training of the e n g c h i U Colleges (Ngwane Teacher. n. During 2013/2014, the Government of Swaziland introduced a program for training of ECCE. teachers. in. one. ’. s College). This is a three year diploma program offered on a part time basis. The program is sponsored by the Open Society Institute for Southern Africa (OSISA). Currently 180 students are enrolled for this program. It is expected that during 2015/16, Swaziland will witness the first group of students to graduate under this program. Training of care givers on psychosocial support ‐ at the University of Swaziland. This is a one year certificate programme offered through distance education.. Development and adoption of the Swazi Early Learning Development Standards. 11.

(21) The Ministry with the support from partners developed and launched the Swaziland Early Learning and Development Standards (SELDS) in 2013/14. The SELDS are specifications of what young children should know and be able to do. Standards are important because th ey state the development milestones (what children should be able to do at what age) and h elp parents, care givers and teachers to provide the best care to the child in line with her need. Increased Budget ECCE in Swaziland is largely in the hands of the private sector thus has been receiving very little financial support from the government. The share of the minister of education and. 政治大. training budget that goes to ECCE is less than 10%.. 立. Sensitization on the importance of ECCE through campaigns. ‧ 國. 學. A series of campaigns were conducted in all the four regions in order to promote parental inv. ‧. olvement and increase children’s access to ECCE. y. Nat. er. io. sit. Establishment of a National ECCE Panel. The panel was established to plan, coordinate, monitor and evaluate the provision and qu. n. al. Ch. ality of ECCE services, standards and activities.. engchi. i n U. v. 3.1.3. Market Demographics . Population and Geographic demographics. Swaziland have a total population of 1 320 171, having only one city with a population over 100,000: Manzini, with an estimated 2007 population of 110,500. The next largest city, and only city over 10,000, is Mbabane with approximately 76 218 and 25 733 children population.. Approximately 21% of the population lives in urban areas (mostly in Mbabane and Manzini). Swaziland urbanization rate is at 1.32%. Tomorrow People for the first five year will be 12.

(22) targeting Mbabane mostly because its an urbanized city where most of our target market are located.. The school will also take this five years to establish and create brand awareness such that where it expands its operations to the other urbanized cities (such as Manzini) it would be a wellknown brand.. Population 1400000 1200000. 1320171. 政治大. 1000000. 立. 800000. 200000 0. Swaziland. 174635. 76218. 25733. Total children (2-6). Mbabane. Children(Mbabane 26). ‧. ‧ 國. 400000. 學. 600000. sit. y. Nat. n. al. er. io. Figure 2 Population graph. Ch. engchi. i n U. v. Child bearing rate 200 180 160 140 120 100 80 60 40 20 0 2015. 2010. 2005. 2000. 1995. 1990. 1985. Figure 3 Child bearing rate graph 13. 1980. 1975. 1970.

(23) Swaziland population growth rate is at 1.1%, with 24.3 births/1000 population. Figure 3 depicts that the child bearing rate have been slightly increasing since 2005. Tomorrow People projects that in the next coming years will be have a constant growth rate in our potential customers for both full time market and part time market . Economy and Income Demographics. With a gross domestic product (GDP) per capita of about $3,000, Swaziland is classified as a. 政治大 depends for about 85% of its imports and about 60% of exports. The economic growth of 立 lower middle income country. Swaziland is very closely linked to South Africa on which it. Swaziland has been slow since 2013, but it is expected to rebound to 1.7% in 2017 from the -. ‧ 國. 學. 0.6% in 2016, corresponding with a recovery in agricultural production. This is a positive. ‧. growth indicator because it means that more people will be able to afford education.. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. Average salaries (US$) 3000 2500. 2400 2000 1500 1000 1000 500 450 0 Average low income. Average medium income. 14. Average high income.

(24) Figure 4 Average salaries. Tomorrow People Academy will be targeting customers that will fall under the average high income as well as average medium income. Richest people in Swaziland account for 20% of the population.. Swaziland Household Income and Expenditure Survey (SHIES) Table 2 SHIES. 政治大. Swaziland Household Income and Expenditure Survey 2014/15 2000/1 Food 28.6 27.2 Food purchased 21.4 21.5 Food own produced and consumed 4.2 3.6 Food received 3 2.1 Non-Food 71.4 72.8 Education 14.7 8.9 Health 2.8 12.5 Monthly regular payment 10.8 11 Annual regular payment 0.6 0.8 Non-Food purchased 21.6 19.2 Non-Food received 1.9 3.4 Rent (Actual and imputed) 19 17 Total 100 100 Source: Computed from the Swaziland Household Income and Expenditure Survey, 2000/01 and 2014/15.. 立. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. i n U. v. A survey conducted from the SHIES, 2000/01 AND 2014/15 indicated an increase on the amount spent on education from 8.9 in 2000/01 to 14.7 in 2014/2015. This increase shows that the Swazi population is now more willing to spend more on education despite income constraints. . Education Demographics. High unemployment in Swaziland has also curbed the incentive for households to invest in education , however the is an increasing rate in the number of households headed by college 15.

(25) educated individuals. According to data analysis from the Household Income and Expenditure Survey (2000/01), households headed by college educated persons have the lowest levels of poverty in all regions. This means that college educated individuals will be more willing to invest in their children’s education. Tomorrow People Academy will mostly be targeting households that are educated because it will be easier for them to identify themselves with our product or service.. 3.2. Market Summary 3.2.1. Needs and corresponding Benefits of People of Tomorrow. 政治大 Customer Needs Benefits 立. Table 3 Needs and benefit. Quality Education Safety. ‧. Excitement. Extra curriculum classes. Quality Education. One full day courses. Safety. sit. n. er. io. al. y. Nat. Part time. Standard half day classes.. 學. Full Time. ‧ 國. Targeted Segments. v. One day or certain days courses/classes Excitement. Ch. engchi. i n U. Tomorrow People provides a solution to the current needs of our target market. Since a lot of households in Swaziland are have both full time working guardians and or single parents households, Tomorrow People will act as a temporary guardian of kids during the day, where children are provided with the best quality education at a safe and exciting environment. Also in situations where guardians couldn’t find a helper or nanny for that particular day, Tomorrow People will step in and provide them with a Child Minder that can either take care or the kid at the guardian’s premises or at our school, depending at what the guardian prefers.. 16.

(26) 3.2.2. Solution Tomorrow People will be providing early child education in a broader dimension. It will incorporates technological as well as creative tools and material while building a solid foundation on the future education of the child. The company seeks to fulfill the following benefits:. • Flexible enrollment plan • Quality education (creativity and incorporates technology). 政治大. • Safety • Fun. 立. ‧ 國. 學. 3.2.3. Key to Success. Flexibility hours and enrollment plan. . Quality education. . Maintaining a good reputation.. n. al. er. io. sit. y. Nat. . ‧. The key to success for Tomorrow People will include:. Ch. engchi. 3.3. Critical Issues. Figure 5 Business cycle stages. 17. i n U. v.

(27) Tomorrow People Academy will be a start-up business. It will be in the introduction stage of the business cycle and it will have the following critical issues: . Establishing product brand. . Establishing Quality level of the school education. . Penetrating the market (Whether through price). . Creating product or brand awareness. 3.4. Strength’s, Weakness, Opportunities, Threats Analysis. 政治大. The below SWOT analysis highlights the key strengths that will be used to take advantage of. 立. the key opportunities, as well as overcoming weaknesses by taking advantage of opportunities.. ‧ 國. 學. The SWOT also highlighting the key weaknesses that will lead to threats on Tomorrow People.. ‧. n. er. io. sit. y. Nat. al. Ch. engchi. 18. i n U. v.

(28) . Management experience in the industry Human Resources; Provide excellent training for their staff. Flexibility in choosing enrollment plan for kids. Safety Quality education Location.     . Unfavorable macroeconomic of Swaziland. 立. 政治大. . Lack of brand awareness. . Inability to attract highly experienced employees since it’s a new school.. 學 ‧. Government support of early childhood care education.. n. al. y. . io. Growing market:Increase in child bearing rate.. sit. Nat. . er. . Competition from already established businesses.. ‧ 國. . Ch. engchi. i n U. v. 3.5. Target Market Tomorrow People’s strategy is based on positioning of product differentiation. The school will be targeting specific customer groups and our primary consumers target is middle to high earning families. However, there are other consumers that the school will be targeting, which are, high earning single parents and double income parents or guardians.. 19.

(29) The school targeted segments will have a market size of approximately $103 650 monthly income where $48 000 is from middle to high earning families; $33 800 for high earning single parents; $21 850 for full time working parent.. Target Market(US$) 60000 48000. 50000 40000. 33800. 30000. 21850. 20000. 立. 學. ‧ 國. 10000. 1. Middle to high income earning families. High earning single parent. ‧. Full time working parents. io. 3.5.1. Middle to high Income Earning Families. al. sit. y. Nat. Figure 6 Target market. er. 0. 政治大. n. v i n C these People of Tomorrow will be targeting families h e nkindg ofc h i U because of their strong financial capacity. This segment will constitute 41% from the total targeted market.. 3.5.2. High Earning Single Parents or Guardians High earning single parents or guardian also have a strong financial position and they have the tendency of having willingness to invest in their children education because in most cases they are also highly educated, because of that fact the school finds them as an easier target market to attract. This target market will amount to 34% of the school targeted market.. 20.

(30) 3.5.3. Full Time working parents or guardians Full time working parents or guardians is also another market that we will be targeting. Although this segment financial position is not as strong as the other two target market, the school educational service packages will be one of the major compelling effects that will attract this segment because both parents are working on a full time basis. This target market will amount to 25% of the total target market.. 3.6. Competition 3.6.1. Key competitors. 治政大 Tomorrow People current alternatives include the following. 立 ‧ 國. 學. • Montessori life School. ‧. Montessori is an international school that is known globally. They have established a cliental. sit. y. Nat. base through their good service provision which include good quality education and safety .. io. n. al. er. However their price is relatively high ($395.45 per term). • The Little School. Ch. engchi. i n U. v. The little School is a well-established school in Mbabane, the Capital City of Swaziland. It has also managed to have a clientele through the provision of good education and by having experience employees. Little school term fees totals $251.36 . Usuthu forest School. Usuthu Forest School is also well known in the South African Development area. It have a strong brand awareness. Although is among the best schools in Swaziland it is also among the most expensive schools in Swaziland. It provides education from elementary level up until. 21.

(31) high school. Also Usuthu Forest is remotely located as it is situated in the outskirts of the Capital City. Usuthu Forest’s term fees total $487.71 . Sifundzane School. Sifundzane School have establish brand awareness in Swaziland, even though it is only located in the Capital City. Its good education system precedes them. It provides education from kindergarten up until high school level. Sifundzane’s total term fees $450.20 . Annadale School. 政治大 Annadale schools is a Christian based multi-racial, coeducational school, comprised of both a 立. ‧ 國. and developing skills. Annadale’s term fees totals to $250. 學. preschool and a primary school based in Swaziland. It Deals with the base of infancy learning. ‧. • The Little Brown Hen Preschool. sit. y. Nat. io. er. The little Brown Hen Preschool is another school that will provide competition for Tomorrow. al. v i n C the past years of itsUexistence.Term fees totals $247.61 managed to maintain its customers for h engchi n. People. It also well established school in Mbabane, the Capital City of Swaziland. It has. 22.

(32) Table 4 Competitors strength and weakness List of Competitors. Strength. Weakness. Montessori Life School. Brand recognition. Lacks flexibility (one enrollment plan). The Little School. Quality Education. Safety (in terms of ratio between teachers and kids, 1:10). Usuthu Forest Minimal use of technological tools. Sifundzane. 立. Annadale. 政治大. ‧. ‧ 國. 學 sit. y. Nat. io. n. al. er. 3.7. Differentiation Strategy. i n U. v. Despited the strong competition that Tomorrow People is facing, Tomorrow People Academy. Ch. engchi. plans to use it differentiation strategy to attain a competitive advantage over its competitoors. The School will incorporates marketing techniques that will coherently give them a competitive edge, as well as design unique products and services that will attract the attention of potential client.. 3.7.1. Service Flexibility One of the most important unique attributes of Tomorrow People Academy is flexibility in time. This flexibility in time enable the school to be able to offer multiple enrollment plan which is something that is currently not offered in the early childhood education industry in. 23.

(33) Swazi. This flexibility incoherently gives the school a competitive edge over its competitors because the current players in the early childhood education only provide one kind of an enrollment plan known as fixed plan.. 3.7.2. Innovative and creative learning program’s Tomorrow People Academy’s business profile will put more emphasis on the use of innovative and creative techniques. The school will carefully select materials and toys that will promote creativity. We will choose materials that will address creative needs for all children. The school will do the following;. 學. ‧ 國. 1.. 政治大 Integrate Technology into 立programs. It is no secret that kids are crazy for technology, so it is important for Tomorrow People. ‧. Academy to provide children with time to simply play, create and use their imaginations. However, teachers will also ensure that students learn to use current technology in this. y. Nat. er. io. sit. constantly-evolving world. Integrating technology into our program when done well, it will not only reinforces key technical skills children need to thrive in the 21st century, but. al. n. v i n it also increases student engagement The school will use: C hand enhances learning. engchi U . Engaging websites: such as “Starfall” which aims at developing and strengthening reading skills, “ABC Ya” and “Cookie” which provide appropriate games and activities spanning all subject areas. “Math Magician” which will assist children improve their math fluency with addition, subtraction, multiplication and division.. . Enriching Apps: The school will provide iPad carts to their teachers for use in classrooms.. . Educational Video Sites: The school will use educational video sites tailored to learning objectives and specific age groups. There is a site called “Teachertube” 24.

(34) which is similar to YouTube that the school will use. This site enables teachers to share instructional materials such as videos, audio recordings, and photographs. 2. Cooperative learning structure In-order to engage student to more participative the school will use a “studentcentered approach”. This approach creates engagements as it encourages interaction among student themselves: this method allows children to discuss class materials with buddies or in groups, thus maximizing the level of participation.. 3. Differentiation Method. 立. 政治大. The school or teachers will tailor learning experiences to differentiate among the. ‧ 國. 學. individual needs of students. This will be done through matching assignment of. ‧. children to the readiness level of student, offering appropriate intervention and. sit er. io. 4. Goal setting. y. Nat. extension of activity as required.. al. n. v i n C hin the goal-settingUprocess which will be an excellent The school will involve children engchi way to encourage them to take ownership of their learning. Teachers will also further facilitate goal setting through the use of organizers, anchor charts and similar aids.. 5. Assessment learning. Tomorrow People Academy will use assessment for learning which is a data gathering process used by teachers to help them customize instruction to match student’s needs. Most school uses summative assessment which does not give a clear picture of what the student knows. Assessment learning allows for teachers to monitor how the. 25.

(35) children are learning as they teach, using observations, questioning strategies, class discussions, exit tickets, learning logs, peer assessments, self-assessments, and slate work, among other methods.. 3.7.3. School Facilities People of will use modern facilities which will also be safe and promote creativity at the same time. The school’s facilities will ensure welfare and comfort for both children and teachers. . 政治大 of children. The flow of立 children and adults in the building will have, in particular,. The design, layout and physical environment will be conducive to meeting the needs. ‧ 國. . 學. easy access to sanitary accommodation and outdoor play space. Furniture, equipment and toys will be of suitable design and condition as well as. ‧. developmentally appropriate, safe, suitable for children’s needs and non-toxic.. Nat. y. The school plans to be situated in an accessible and safe location. The location will. sit. . n. al. er. io. be secure and suitable for the purpose of child education, as well as welcoming to the. i n U. v. children and their families. Refer to Appendix 11 for more information on the school facilities.. Ch. engchi. 3.7.4. Safety Tomorrow people Academy will ensure that the children’s need are meet in a safe environment. . Children will be supervised at all times.. . The ratio between children and teachers will be 1: 8. 26.

(36) . The premises and outside play area will be secure. Children will not leave the premises unsupervised.. . A system will be put is in place for managing access to the premises and a record of visitors is maintained. Unauthorised individual’s will not be allow to access the premises or the outdoor play area.. 3.7.5. Marketing In order to attract customers, the School will need to make high investments in marketing. The business needs to become well known and therefore a marketing strategy will be designed to. 治政 identify the market segment that the company wants to target, 大 the product, price, place and 立 promotions of the School. We will not only employ the traditional media to communicate but ‧ 國. 學. we will also use social media. In addition to that Tomorrow People Academy plans to have a. ‧. child care application for communication, and updating guardians. This will give the guardians the opportunity to know what’s happening when their away which will ultimately give them. n. al. er. io. sit. y. Nat. peace of mind.. Ch. engchi. 27. i n U. v.

(37) 4. Marketing & Sales 4.1. Marketing plan 4.1.1. Product Tomorrow People Academy will offer early education services that incorporates technological as well as innovative tools or material in either full time or in a flexible basis.. Product Description/ Offerings. Guardians will have the option to choose any of the following plans for the children:. • Full time program. 立. 政治大. ‧ 國. 學. Full time program will be offered to those that wished the kids to attend classes on a daily basis from 8:00 am up until 14:30 pm.. ‧. • One day Program. sit. y. Nat. n. al. er. io. One day program is part of the part time program. This is a course that will be offered only for. v. one day or certain days depending on the child’s needs. The day course will either take half a. Ch. engchi. i n U. day, that is from 8:00am till 14:30pm or till 17:00pm which will be a full day.. Although the content of one day courses will be similar to that of full time the manner in which it will be administered will be different since their enrollment with us will usually be for a short period of time, for example, a day, a week or month, depending on how long the guardian wishes to have the child enrolled.. 28.

(38) • Tutoring Program After school program will be offered to any child whether enrolled in our school or not.. This will give children the opportunity to explore their creativity as well as enjoy the company of other kids not only from our school but from other schools.. This will be a daily program starting from 15:00 pm up until 17:00 pm.. In accordance to their age, children will be enrolled into different classes or department.. 政治大. • Grade 00 – will carter for children below 4 years old.. 立. • Grade 000 – will carter for children between 4 and 5 years old.. ‧ 國. 學. • Child Minders Department – these will take care of babies or children form the age. ‧. of 8 months up until the age of 2 years.. sit. y. Nat. For high quality education and to comply with governmental regulation the ratio number of. al. n. 8 children.. er. io. children to one teacher will be 1:8 ratio, meaning that 1 teacher will have the responsibility of. Ch. engchi. 29. i n U. v.

(39) 4.1.2. Pricing The pricing system of Tomorrow People will be market oriented because we want our prices to be competitive in the market we will be serving. Tomorrow People will be having three streams of revenues; tuition, transportation and food. The school will provide all three streams with different pricing strategy.. 4.1.2.1 Tuition Price package In accordance to our peer’s price analyses, Tomorrow People’s price package will be as. 政治大. follows:. 立. Full time Price Package. Table 5 Full time tuition fee. n. Ch. $1088.12 Annual. engchi. GRADE 00 $155.45 Per month $582.95 Per term. sit. y. GRADE 000 $139.90 Per month $373.07 Per term. er. io. al. ‧. Nat. 8 MONTHLY Payments January-August TOTAL PER TERM (Includes Tuition Fee, Computer & Development Levies) ANNUAL (Includes Tuition Fee, Computer & Development Levies). . 學. ‧ 國. . i n U. v. E1243.57 Annual. Flexible Price package. Flexible time package will either have an hourly rate or daily rate depending on whether its part time drop in’s or part time tutoring.. 30.

(40) Table 6 Tutoring fee Hourly rate. $1.94. Monthly rate (8 months). $174.88. Annually. $1399.01. Table 7 One day course fee Daily rate. $5.44. Monthly rate (8 months). $163.22. Annually. 學. ‧ 國. 立. 治政 $1305.74 大. 4.1.2.1.0 Tuition Price incentives. ‧. Since the flexible program is what will be differentiating Tomorrow People with other. sit. y. Nat. players in the industry, the company will be providing some price incentives for customers. al. n. . er. io. under this program. These incentives will include: Discounts. Ch. engchi. i n U. v.  The school will be providing 5% discounts on monthly payments made (not later than the 8th of each month) upfront for either fixed tutoring program and fixed drop in’s.  The school will also be providing 5% discounts for every annual payments made on full time program before the 8th of February each year.  The school will also be providing 2% sibling discounts.. 31.

(41) 4.1.2.2 Transportation Price Package The fees for all three programs will be the same. Table 8 One day course fee Programs. Monthly fee. Semester fee. Annual fee. Full time. $54.00. $216.00. $647.00. Tutoring. $54.00. $216.00. $647.00. One day Course. $54.00. $216.00. $647.00. 治政大 4.1.2.2.0 Transportation Price Incentive 立 Tomorrow People will be also offering discounts on the transportation fees ‧ 國. 學. . The school will be providing discounts of 5% of every full time customer that will be. The school will be providing 5% discounts for the flexible programs that will make. sit. y. Nat. . ‧. make an annual payment before the 8th of February in each year.. io. n. al. er. monthly payment upfront (not later than the 8th of each month) 4.1.2.3 Food Price Package. Ch. engchi. i n U. v. The fees for all three programs will be the same.. Table 9 Food fee Programs. Monthly fee. Semester fee. Annual fee. Full time. $31.00. $123.00. $370.00. Tutoring. $31.00. $123.00. $370.00. One day courses. $31.00. $123.00. $370.00. 32.

(42) 4.1.2.2.0 Food Price Incentive Tomorrow People will be also offering discounts on the transportation fees . The school will be providing discounts of 5% of every full time customer that will be make an annual payment before the 8th of February in each year.. . The school will be providing 5% discounts for the flexible programs that will make monthly payment upfront (not later than the 8th of each month). 4.1.3. Place. 政治大. The company will base its operation in Mbabane, which is the Capital of Swaziland, in an. 立. urban location. The facility will be in a 1000sq house, and area will be fenced. . The school. ‧ 國. 學. space will include a total of 2 classrooms, a restroom, kitchen and a lobby/reception area. Parking is also available. The yard will be furnished with safe children’s toys. Appendix 10. ‧. shows a reflection of the school’s location.. sit. y. Nat. io. n. al. er. 4.1.4. Marketing Communication. i n U. v. Tomorrow People will rely on several promotional plans or strategies because our main goal. Ch. engchi. is to reach as many potential customers as possible. By integrating all messages in all media we will reinforce the brand name. Since one of the managers have certificates and experience in business as well as a marketing, she will be of assistance in choosing the appropriate media and timing of our advertisements. Through advertising the company hope to bring brand awareness, maintaining it and communicating various messages to the public.. The company will use the following promotional strategies to reach targeted audience: • Traditional Media (Newspaper’s, radio and television) • Social Media (Facebook, Instagram, Twitter, YouTube) 33.

(43) • Online marketing (Website) • Brochures • Word of Mouth or Referrals.. 4.1.5. Positioning Using Product differentiation, Tomorrow People is positioning themselves as the most flexible, creative and innovative and ground breaking solution to early children education. Our marketing will capitalize on creating and communicating Tomorrow People’s strengths that differentiate them.. 立. 4.2. Sales Plan. 政治大. ‧ 國. 學. Tomorrow People will provide and sell excellent early childhood education services,. profit.. ‧. differentiating them from other Preschools or kindergartens, with the intention of making a. sit. y. Nat. n. al. er. io. The school plans to establish a larger full time clientele base which will be the main source of. i n U. v. revenue, so managing of good relation between these types of customers will be vital.. Ch. engchi. Although the part time or flexible basis will not be our primary focus, keeping a good relation with them will be much as important. Through the provision of discount on both the full time program as well as the flexible program the school plans to get stable revenue income that will sustain the operations of the school.. Tomorrow People will accept cash payment as well as payment by Visa and Master card. The school will also open a bank account with one of the local banks and customers will be able to pay direct to school account. For cash payments as well as bank deposit payments the school will charge a minimum cash handling fee.. 34.

(44) The school will provide their educational service at the physical premise, however there will be cases where the school will be required to provide their services in their customer’s premises.. 立. 政治大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 35. i n U. v.

(45) 5. Operations 5.1. Location 5.1.1. School location Tomorrow People will be located in the urban, city district, which is a central accessible location in Mbabane, the Capital city. This location will be quite beneficiary to not only to our target market but also to us because it makes are services easily accessible to our target market Advantage of the school location . 政治大 The good part about it central 立 location is that it will be not in a busy street although its Central location: Tomorrow People will be strategically located centrally to the city.. ‧ 國. . 學. central to town.. Neighborhood: The school neighborhood is accessible as it is situated not far from. ‧. one of the city’s major road’s. The school is also at close proximities with one. Nat. sit. y. national park as well as not away from the Mbabane clinic and church. The. al. n. town.. er. io. appearance of the neighborhood is also appealing as its clean and in a safer part of. Ch. engchi. i n U. v. Refer to Appendix 10 for more information about the location of school.. 36.

(46) 5.2. Facilities People of will use modern facilities which will also be safe and promote creativity at the same time. The school plans to be situated in an accessible and safe location.. 5.2.1. Technology For best school administration, Tomorrow People will use the following applications: . Quickbook. This will be used for back office management, such daily bookkeeping and payroll.. 立. Parent locker. 學. ‧ 國. . 政治大. This application will be used to manage and streamline all aspects of school. ‧. administration, such as homework, data reports, calendars, schedules, admissions and enrollment, forms, attendance, conference scheduling, grade-books, lesson plans.. sit. y. Nat. n. al. er. io. 5.2.2. Equipment and tools Our Capital items will include: . Ch. engchi. i n U. v. Furniture and fixtures that will comprises ofthe follows desk and chairs,blackboard,bookshelf, chairs, reception desk, and conference table. . Machinery that will comprises of Computers and projectors. . Tools that will consist of cooking utensils, oven, pans and cooker, cutlery, dishwasher, washing machine, dryer.. . Equipment that will have various toys and playing set.. Refer to Appendix 6 and 7 for a more detailed capital item.. 37.

(47) 6. The Company 6.1. Business Type People of Tomorrow is a General Partnership. It comprises of three partners who will contributes capital and share profit and losses at a ratio of 1/3. The partners will also agree to contributes labor and skills to the business as each partner will share on the management of the business.. Appendix 12 have a more detailed partnership agreement.. 6.2. The Personnel Plan. 立. 政治大. The Personnel structure will be as follows:. ‧. ‧ 國. 學. 6.2.1. Managers. As mentioned above, Tomorrow People will have three managers. Their responsibilities will. al. er. io. sit. y. Nat. include:. n. • Overseeing the school operations. Ch. engchi. • Handling schools financial matters. i n U. v. • Managing the school’s public image. 6.2.2. Teachers Tomorrow People will start with eight teachers, each responsible for a maximum of eight children. As the school grow and the number of children intake increases, the school will increase their number of teachers.. Their responsibilities will include:. 38.

(48) • Impacting knowledge on the children in accordance to our daily plans. • Safe-guarding children from harm’s way.. 6.2.3. Administration Officer Tomorrow People will have two administration officer that will handle the day to day administration work. Their responsibilities will include:. • Managing registration or enrollment of students • Purchasing and managing school stationeries and other school materials. 政治大. • Daily book keeping of school accounts.. 立. • Managing the school website and other school social media pages.. ‧ 國. 學. • Performing Administration adhoc. ‧. 6.2.4. Housekeeper. y. Nat. er. io. sit. The school will hire two housekeepers and they will be responsible for the following:. al. • Cleaning the school facilities. n. v i n C h are out of children’s Making sure that all unsafe object e n g c h i U reach.. •. 6.2.5. Driver The school will hire one driver that will be responsible for transporting children to and from school.. 6.2.6. Cook Tomorrow people will hire two cooks and their responsibilities will include:. • Preparing daily meals for children 39.

(49) • Making sure that they provide food in accordance to child’s diet • Keeping the kitchen utensils as well as the kitchen clean Refer to appendix 5 for more detailed personnel budget plan.. 6.3. Management Team 6.3.1. Management Summary Tomorrow People is founded by Miss Nombuso Bhila, and will be operated and managed by the founder as well as Miss Cindy Bhila and Miss Nokwanda Bhila. Miss Cindy Bhila and. 政治大. Miss Nokwanda Bhila have impeccable credential in children’s education.. 立. • Cindy Bhila and Nokwanda Bhila. ‧ 國. 學. With their Knowledge in Children education, they will assist the designing unique learning. ‧. plan that will bring creativity, as well as fun. They will also be of benefit to Tomorrow. Nat. sit. y. People in that they will be able to attract customers from their previous employees and their. • Nombuso Bhila. al. n. marketing and sales.. er. io. experience in children’s education will assist us in areas such as product design, product. Ch. engchi. i n U. v. The financial part of Tomorrow People will be handled by Miss Nombuso Bhila. Her experience in Accounting and Tax auditing will benefit Tomorrow People in maintain their financial statements as well as maintaining their finances. 40.

(50) 7. Development plan For the first five years, Tomorrow People plans to have operations only at the capital city of Swaziland (Mbabane). This will give the company some time to build a strong brand name as well as a good reputation.. 7.1. Immediate Future Increase the number of branches After the Fifth year, the company plans to expand our business to the other main Cities of Swaziland. The cities that we plan to expand our business to include Manzini, Siteki,. 政治大. Simunye and Nhlangano. First on line will be Manzini City which holds the largest population of Swaziland.. 立. ‧ 國. 學. By expanding to these cities we expect to capture new customers thus expanding our. ‧. customer base, which will also provide us with more sales revenue.. sit. y. Nat. 7.2. Distance/extended Future 7.2.1. Home school. io. n. al. er. In the long run, the school plan to extend its business and venture into home school.. Ch. i n U. v. This is another unpopular type of school that is still not familiar in the Swazi. engchi. educational system. So as Tomorrow People’s brand increases the school plans to use it in influencing targeted customers to invest in our plan.. 7.2.2. Online School Tomorrow People also anticipates venturing into online school in the long run. For the economic situation in Swaziland as well as technological and education situation highly reduces striving in such a business concept.. 41.

(51) Figure 7 Development Timeline. 立. 政治大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 42. i n U. v.

(52) 8. Exit Strategy In the event that Tomorrow People’s cash flows gets to a point where business operations are no longer sustainable and an external capital infusion is no longer feasible to maintain operations, the school plans to terminates operations by a liquidating all assets and paying out our debt and dividing the remaining cash among core founders in accordance to ratio in our partnership agreement.. 立. 政治大. ‧. ‧ 國. 學. n. er. io. sit. y. Nat. al. Ch. engchi. 43. i n U. v.

(53) 9. Financial Plan 9.1. Forecast 9.1.1. Key Assumptions Our Assumptions are as follows: Table 10 School Intake 70 15 15. Full time Tutoring Program One day Program. 政治大 10%. Table 11 Yearly Increase on Prices (Revenue). 5% 5% 5%. ‧. ‧ 國. 立. 學. Tuition Food Transportation Registration. Table 12 Yearly increase on Intakes (Target Market). n. Ch. engchi. er. io. al. 10% 15% 15%. sit. y. Nat. Full time Tutoring Program One day Program. i n U. v. Table 13 Yearly increase on general expenses 0% 3% 3% 3% 3% 5% 5% 2% 0% 2% 2% (of revenue increase). Salaries Rent Electricity Water Stationery Books Food Telephone Insurance Internet Marketing & advertising. 44.

(54) 9.1.2. Revenue by month Based on the stipulated assumptions our revenue will be as follows. Revenue (US$) 35000 30000. 32919. 25000 22474 22474 22474 22474 22474 22474 22474. 20000 15000. 政治大. 10000. 8206 8206 8206 8206. 立. 5000 0 Mar. Apr. ‧ 國. Feb. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. 學. Jan. Figure 8 Monthly revenues projections. ‧. n. al. er. io. 9.1.3. Expenses by month. sit. y. Nat. Refer to Appendix 1 and 4 for more information on the school’s revenue and revenues streams. i n U. Our forecasted expenses by month will be relative constant. Ch. e. ngc Expenses (US$). hi. v. 25000 20000. 20801 17997 17994 17990 17996 17993 17991 17993. 15000. 13860 13857 13854 13851 10000 5000 0 Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Figure 9 Monthly expenses projection 45. Sep. Oct. Nov. Dec.

(55) Refer to Appendix 1 for more information on our months expenses.. 9.1.4. Net Profit by year. Net Profit(US$) 120000 100000. 106563 89092. 80000 60000. 67541 52707. 40000 20000 20884 0 2018. 2019. 立. 政治大 2020. 2021. 2022. ‧ 國. 學. Figure 10 Profit projections. ‧. On the first year of business the school will not generate a lot of profit. This will be because the school might experience challenges in attracting a lot of customers, which then leads to. y. Nat. n. Ch. engchi. 46. er. io. al. Statement 9.3.1 reflects more detail on the school net profit.. sit. lower revenue generated while experiencing higher expenses. i n U. v.

(56) 9.2. Financing 9.2.1. Uses of Funds Tomorrow People will request the financial assistance to finance their start-up cost. Our biggest start-up cost wil comes from purchasing fixed assets as well as expenses.. Start-up capital cost. Assets 15% 15%. 立. 政治大 Furniture. 46%. Machinery. ‧ 國. 學. Equipment. 24%. Tools. ‧ sit. y. Nat. er. io. Figure 11 Start-up capital cost. al. n. v i n C7hfor more detail on U Refer to Appendix 6 and Appendix e n g c h i our capital expenditure.. 47.

(57) Start-up expense. Major Expenses(US$) 160000 140000 120000. 135423. 100000 80000 60000 40000 20000. 13542. 立. 0. 4461. Rent. Marketing &Advertising. 學. Employee Related expense. 6324. ‧ 國. Salary. 政治大. Figure 12 Start-up expenses. ‧. Nat. sit. y. The school will also use the financial aid on paying out our expenses. One of the biggest. n. al. The amounts are $135, 423 and $13,542 respectably.. Ch. engchi. er. io. expenses that the school will incur is paying out salaries and other salary related expenses.. i n U. v. The school will also invest a lot of funds in marketing and advertising to create brand awareness. Tomorrow People will spend approximately $4,461 in 2018 and $5,353 in 2019. Refer to Appendix 1 for more details on our expenses. 48.

(58) 9.2.2. Sources of Funds. Sources of Fund. 40% Partner's Contribution. 60%. Loan. 立. 政治大. ‧. ‧ 國. 學. Figure 13 Capital financing. Our capital financing will come from the partners as well as from the bank. Partner’s will. y. Nat. io. sit. make a total contribution of $34,000 while a loan of $50,000.00 will be requested from the. n. al. er. bank. Appendix 8 as well as Appendix 9 has more information on how sources of fund.. Ch. engchi. 49. i n U. v.

(59) 9.3. Statements 9.3.1. Projected Profit and loss (US$) 2018. 2019. 2020. 2021. 2022. Revenue. $223,061. $267,619. $288,014. $310,128. $334,120. Gross Margin. $223,061. $267,619. $288,014. $310,128. $334,120. 100%. 100%. 100%. 100%. 100%. $135,423. $135,423. $135,423. $135,423. $135,423. $13,542. $13,543. $13,542. $13,542. $13,543. $6,433. $6,649. $6,848. $7,058. $900. $900. $900. $900. $900. $900. $3,588. $3,588. Gross Margin % Operating Expenses Salary Employee Related Expenses. $6,324. Water. $900. $900. $900. $3,588. $3,588. $3,588. $2,688. $2,688. $2,688. $2,688. $2,688. $4,488. $4,488. $4,488. $4,488. $1,344. $1,344. $1,344. ‧. $4,488 $1,344. $1,344. $2,244. $2,244. $2,244. $2,244. $2,244. $900. $900. $900. $900. $900. $5,353. $5,760. $6,202. $6,683. n C h$177,802 $178,427 U engchi. $179,068. $179,757. Food Telephone. Internet. Total Operating Expenses Operating Income. $4,461. al. n. Marketing and advertising. Nat. Insurance. $176,803. sit. Books. er. Stationery. ‧ 國. $900. 學. Electricity. io. 立. 政治大. y. Rent payment. iv. $46,258. $89,817. $109,587. $131,060. $154,363. Interest Incurred. $3,088. $2,753. $2,063. $1,322. $526. Depreciation and Amortization. $14,364. $14,364. $14,365. $6,853. $6,853. $7,922. $19,992. $25,619. $33,793. $40,421. $202,177. $214,912. $220,473. $221,306. $227,557. $20,884. $52,707. $67,541. $89,092. $106,563. 9%. 20%. 23%. 29%. 32%. Income Taxes27.5% Total Expenses Net Profit Net Profit / Sales. 50.