innovation business plan overview of uni buddy idea

FOREIGN TRADE UNIVERSITY

SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS

INNOVATION BUSINESS PLAN

GROUP WORK EVALUATION

6 Nguyễn Thị Ngọc Minh 2012550018 96

TABLE OF CONTENTS

8 How you will market JOHF SCPUC co 0 00 000608904 698094506 080809 4 21

I, Executive Summary:

1 Overview of Uni Buddy idea:

Uni Buddy is a 1-1 paid tutoring and mentoring platform in the student community, initially geared towards FTU students and business students in Vietnam in the future

2 Adescription of Uni Buddy:

For students confused with new subjects and ways of studying at university, this platform will help them find seniors with outstanding academic achievements to help them orient their studies and have a valuable transcript for the future In addition, this will also be a place where students can connect with mentors who have gone before in the fields that interest them, letting them share their experiences, and in that way, students will better orient their career path

3 The goals for Uni Buddy:

Within the first 6 months we plan to attract 50+ mentors & tutors and 500+ mentees and tutees in FTU and launch a mobile app after 1.5 years Ultimately, our goal is to not only develop this platform in FTU alone but also expand into other universities within year 3

4 Your proposed target market:

Our target audience for consumers and business are:

- FTU college undergraduates between the ages of 18 and 24 mainly in Hanoi - 3rd year or final - year students who have thorough knowledge of some specific

subjects in FTU such as: Microeconomics, Macroeconomics, Marketing, - FTU students won prizes in competitions

5 Our competition and what differentiates our business:

We have identified Mentori as the main competitor in the mentor-mentee connection field and Mentor A+, AAA Class and FRC in tutoring What differentiates us from others is that we offer a convenient all-in-one platform with a wider range of subjects and fields and a close-knit community between mentors and mentees

6 Your management team and their prior experience:

Due to the limitation of capital and the company is only at the stage of establishment and development, our core team is not many but is selected highly strictly Our staff are proficient in key areas, namely marketing, sales, customer service, finance,

accounting and HR Having competent personnel gives us a competitive edge in running and developing our business

7, Financial outlook for the business:

To start up this business, we would need a total of VND 200,000,000 to cover establishment, operating, R&D, HR, marketing expenses and reserve for contingencies and working capital.

II Context and Landscape

Nowadays, with the increasing growth of technology, it is much easier for university students to access different kinds of learning materials and study methods Thanks to this development, there are a lot of online newly-opened centers, classes with a big number of students, and also webinars in which students have a chance to talk to advisors, specialists These are good solutions that can facilitate students’ pain points to some extent, and help them optimize their learning experience However, those solutions can only serve a certain number of people, because it is standardized, not flexible and not suitable for everyone

In recent times, several start-ups have come up with new solutions for students by customizing and personalizing their learning experience One prevalent idea that is widely supported by students is Mentori - a social service connecting students with experienced mentors in different fields, helping to figure out the right career path to follow However, this service is mostly suitable for graduates or postgraduates

In the market, there are few courses/classes customized for individual students currently studying at school, such as freshmen and sophomores, who have problems with their learning, and need a personal tutor or advisor to support them Those problems may originate from the lack of time for study due to extracurricular activities, misunderstanding due to lecturers’ teaching styles, or basically the curiosity of more extensive knowledge about certain subjects A privately customized class with tutors may help them combat these problems And more importantly, a CV with a high GPA score is a desirable result that almost every student wants to achieve

Furthermore, there are more and more contests for students covering a wide range of fields such as Economics, Entrepreneurship, Technology, Business Cases The trend of students’ participating in those contests is gradually increasing, because they want to have an environment to compete with other students, and also they wish to gain a certificate, which can help beautify their resumé During the contest, there can be certain problems they need to face, therefore, an advisor who either has experience of taking part in the contest or has rich knowledge regarding a field, could be a good companion for them

In terms of the FTU market, there are estimated 9000 students from first to third year FTU has long been famous for having a dynamic environment in which students learn, work and take part in extra activities at the same time These are our target customers, especially second and third- year students as they have become busier with

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working and studying at the same time, and some specialized subjects are not easy to pass Moreover, at present most of the subjects in other tutor centers are for freshmen

Tutor centers and mentoring are on the rise, and now it is the golden time to develop an all-in-one platform for university tutors, advisors and students with diverse subjects and competition sharings

We plan to reach only the FTU market in the first 2 years, then we develop our target market to other top universities in Hanoi & Ho Chi Minh City

III Company Description

Business Name | Uni Buddy

To create a platform of connecting, helping and sharing knowledge and

the future, and better orienting their career path

- Connection: It is all about connection, connection among FTUVers of all cohorts, connection between eager-to-learn and eager-to-help individuals

Company - Personalization: We build technology with the belief that everyone

Philosophy/ | should have a unique learning path and mentors

Values - Trust: Personal safety and data privacy are prioritized in Uni Buddy That’s why we put users in control of the data they share

- Innovation: We always strive to be innovative by inventing and optimizing the services and technologies to enhance users’ experience Company To become No.1 tutoring platform for Vietnamese universities and a

Vision leading enterprise in mentor-mentee connection field

1 Attract 50+ mentors & tutors and 500+ mentees and tutees in FTU in the first 6 months

2 Launch mobile app after 1.5 years Goals &

Milestones 3 Expand tutoring and mentor-mentee connecting platform into other top universities in Hanoi and Ho Chi Minh City within year 3 4 Continuously come up with and launch new features to develop users’ experience

Target Market | Our target audience for consumers and business are: - FTU college undergraduates between the ages of 18 and 24 mainly in

Hanoi

- 3rd year or final - year students who have thorough knowledge of some specific subjects in FTU such as: Microeconomics, Macroeconomics, Marketing,

- FTU students won prizes in competitions

Industry/ Competitors

- Today's trend is that most university students choose tutor centers as this is a quicker and guaranteed way to get high grades and thus high GPA Also, many students are passionate about taking part in competitions including business case, marketing, finance competitions in order to get the prize and have outstanding CV That is why tutor centers and mentoring are on the rise, and now is the golden time to develop an all-in-one platform, like Uni Buddy, for university tutors, advisors and students with diverse subjects and competition sharings - There have been some competitors in this sector, including Mentori, Mentor A+, AAA Class and FRC However, we offer unique features for our users, such as one-to-one tutoring with a variety of economic subjects and a close-knit, professional mentoring community for student competitions with the practical experience of peers

Uni Buddy is a platform that provides paid one-to-one tutoring services Product/ for undergraduate economics majors and a service to connect experienced Service Idea advisors to mentor competitions in the community of students The

service is charged according to the agreed number of days of lessons

- Building a friendly, close student community that is always ready to support each other in improving grades and being active in extracurricular activities

- Making it more accessible and easier to adapt and keep up with the knowledge in the university

trẻ - One-to-one tutoring with a variety of economic subjects

and Delivery website

Suppliers Technological provider

Service Description

Fill in the personal information, and majors

Search for tutors and mentors on-demand by filtering by subject, field, and subject

Tutees have the right to review the advisor's profile, negotiate the number of lessons, and select the appropriate advisor

Make an appointment and wait for the advisor to accept It

After successful booking, students pay online via different payment methods

After finishing the course, users leave reviews on the website about their actual experiences

|- Technology - Platform development - Qualified mentors and tutors through - FTU college undergraduates

company ~ Product development strict selection process - Dedicated personal between the ages of 18 and 24

|- Foreign Trade - Customer Support - One-to-one tutoring with a variety of {assistance mainly in Hanoi

University and other !- Sales ic subjects - Automated services ~ 3rd year or final - year students universities in - Marketing and promotion - A close-knit, professional mentoring j- Communities ‘who have thorough knowledge of Vietnam Key Resources community for student competitions {Channels some specific subjects in FTU

with the practical experience of peers such as: Microeconomics,

- Technology (website, app) - Personalized platform - Website Macroeconomics, Marketing, etc

- Human (marketing, sales, customer - App (SU —c

service, finance, accounting, etc) - Online advertising petiti - Finance (budget) - Word of mouth

Cost Structure Revenue Streams |- Establishment - Sales of mentoring and tutoring courses

|- Operating - Commissions from promotion intermediaries - Research & development

|- Human resources

3 Website prototype demonstration

Access to: https://bit.ly/unibuddy2022 ® Home page of the UniBuddy:

BJ unisuopy Trang ca Tim kiém tutor Tim Kidm memor cudctni J Truong NgocQuynn vy Q

your biddy at every stdige of university life

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Nguyễn Quang Anh Chị Nguyễn Dieu Linh Anh Trên Đức Thờnh Anh 83 Thanh Son

Sinh viên nam 4 Sinh viên nơm 3 Sinh viên nơm 3 Sinh viên nũm 4

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N a N = GA: 3.88/4.0 Ni *

GPA: 4.0/4.0 GPA: 3.9/4.0 GPA- 3 7/40

4 A an)

eB UNIBUDDY Tragchủ Timkidmturce tim kim mentor cudetn) = tuongNeor Quynn wv Q

TRAI NGHIEM CUA SINH VIEN

KV cỒ ` Đạt học Kinh tế Quốc Dan Em cảm ơn œnh rất nhiều vì đã dịnh thời qiơn quý FT lêm về kiến t

Tutor function:

UNIBUDDY 7 Tim kidmn tutor

Trường hoc A Mén hoc A Đại hae Ngeol Thương Hệ Nội Xinh tế vì mà

Đai hae K»nh tế que ciên Kinh tế vĩ mô Học viện Tại Chính

Khác

Mentor function:

UNIBUDDY Lĩnh vực Butinesa Analyst Business Cove

Finance HR Kế toón - Kiểm taón Nghiên cửu khoe hec Khóc

Mentoring is a brain to pick, an ear to listen, and a push in the right direction

Nguyén ti kế toán Lý thuyết tat chính Chính sóch thương mại aia địch thương mọi quốc tế

ĐỘI NGŨ GIA SƯ CỦA CHÚNG TÔI

‘8 | - The first all-in-one - Little database | - Potential -Competitors may >

3 platform for tutors, at start expansion to copy to develop = - Strong value mission | - High price due | - Co-brand with _ | - Increase in word

x

eq _| statement: Connect to the high quality | partners like of mouth to seek 5 - Dedicated, young Limited technical | - Easy to reach Shortage of the a team who are also FTU potential tutors by | tutors and

3 - Positive cashflow - Have to attract | - Access to

product marketing strategy and survey the needs of customers Over the next ftve months, with the goal of verifying the product, educating the new market about the new product line, and initially positioning the product, we create promotions (discount pro plan, open pro plan for free) in a month For months after, we continued to push our product marketing on the platform

The next step, Uni Buddy, would develop some features such as swiping advisor, building the online available lecture delivery services which is more affordable than one-to- one registration

Moreover, we may expand the ability to find an IELTS tutor: The website serves as the intermediary connecting those who want to learn IELTS vs want to teach IELTS Our first step 1s to target FTU students who have difficulties in completing the exercises in school and have difficulties in participating in the contests

5 Product/service features and benefits

One to one tuition has long been recognised as the most effective method of boosting a student’s confidence and supporting them to reach their full potential But it can be costly

By clicking 'Create your account’ and accepting our Privacy Policy, where you can find out what personal data we collect and how we use it, you had an account in our website Then you need to answer a short questionnaire relating to your major in university, which classes you are interested in so that Uni Buddy would customize your website display due to the information you provide

Customers can find tutors and mentors on demand by filtering by subjects, fields, and topics while considering the review advisory profiles, number of sessions or number of lessons and feedback After matching with the suitable tutors and advisors, customer could make an appointment and wait for the advisor to accept Receiving the acceptance of the tutor means the customer has successfully booked the tutors and, students pay the tutoring or advising fee online via the website

After successful payments, tutors and students will contact each other to reconfirm the schedule through the private chat section of the website and can join appointments, classes and talk directly with the tutors, advisors The students will have a lesson for trial to decide whether to continue to learn or being advised

After completing the lesson, users can leave a review about the tutors or advisors on the website

Besides, customers could join in a community for people to ask and answer information, review and consult advisor information, to help learners choose a reputable advisor

e Freshmen and sophomores who have not the

environment in FTU

e Students who are busy because they’re having a part-time job or participating the clubs or joining other activities

¢ Students join the contests but don’t know clearly standards or the quality that need to be achieved in the competition

® Want advice for the contests they take part in

® Prioritize the privacy and quality

e High prices comparing with other tutoring in class with large number of students

FTU students won prizes in competitions

- 200 tok 2

hours mentoring Price - discount 10%]- discount 5-10%|- discount 20%

Tokens/ day)

- have different|- have guarantees |- have different |- 1-1 mentoring materials/ to get at least B,| classes for the | with experienced exercises in| otherwise receive | same subject to | mentors who Benefits | corresponding 50% of the tuition | match with | have got in top

- 2 tutors, who|- 5-6 tutors, who | - 2 tutors | - 8 mentors can

Target - only first-year | - first & - first & - university

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