Report on Business Plan on Touch Chinese

Purpose and Objective on Touch Chinese

The purpose of opening Touch Chinese is to provide Chinese language tutoring services in the orange County area. The market research has shown that there is a need for Chinese tutoring in the orange county area. Many people in the orange county area can get benefit from tutor Chinese (Kourdi, 2009). The Touch Chinese services will be flexible and will provide services for extended hours. We will adjust the services according to the schedules of our customers. These are some of the primary objectives of our services, which will allow us to stand out in the market (Campbell, Edgar, & Stonehouse, 2011).

Time & Resources on Touch Chinese

In the beginning, there will be few members of the management & organization. The CEO of the business will be Sharon who has a background in finance and understands the American Market quite efficiently (Kourdi, 2009). The CFO of the business will be Shuo, who has graduated in Accounting and is a certified public Accountant. Hainan and Sharon will perform the duty of the Consultant. Hainan & Shuo will provide tutor services to our clients because both are Native Chinese and have experience in teaching Chinese for more than 20 years.  In five years period, the business has decided to open 3 more branches (Campbell, Edgar, & Stonehouse, 2011).

Operational Plan on Touch Chinese

The Touch Chinese will provide tutor services from Monday to Saturday. It means the tutor services will be given 6 days a week. The Touch Chinese will provide services from 8.00 am in the morning to 7.00pm in the evening. From 8.00 am to 1.00 pm, one on one tutoring sessions will be conducted. From 3.00 pm to 6.00 pm, small group sessions are conducted. On Saturday the time table will be changed. On Saturday, from 8.00 am to 6.00 pm, small group sessions will be conducted, and one to one tutoring sessions will be performed (Campbell, Edgar, & Stonehouse, 2011).

Target Market & Marketing Strategy on Touch Chinese

Touch Chinese is targeting customers who fall in the 15 to 24 years age group. The business will target 5% of customers who are in the 15, 17, and 19 years of age. 55% of the customers will belong to the 20 year age group. 15% of customers will fall in the 21 year age group. For attracting the customer, the business has decided to utilize social media platforms such as Facebook, Snapchat, and Instagram. The customers will be given information through flyers, and on the first purchase, the customers will be given a 10% discount along with a free 30-minute class trial (Spender, 2014).

Expenses & Economic Considerations on Touch Chinese

The 4 group sessions will be held by each member of the business. Each group will contain 7 people. Each one on one session will be given at $60.00 per day. The 200 books will be given at $20.

The revenue estimates for the 6 months is round about $100240. The total expenses in the 6 month period are estimated to be around $15484. In the 6 month period, the business is estimated to generate a profit of $84756.

Future Plans on Touch Chinese

The business has established the goal to become the top-rated Chinese tutoring for adults in the orange County area. In the orange county, Touch Chinese wants to gain maximum market share. In the upcoming 5 years, the business has decided to open 3 new branches as well so that the needs of the customers can be efficiently fulfilled. After the expansion of the business, it has been decided to hire new tutors. The tutors which the business will hire will be natives having relevant experience in teaching Chinese. Overall in the upcoming years, the business is looking for excessive growth (Spender, 2014).

References on Touch Chinese

Campbell, D., Edgar, D., & Stonehouse, G. (2011). Business Strategy: An Introduction (3 ed.). Macmillan International Higher Education.

Kourdi, J. (2009). Business Strategy: A Guide to Taking Your Business Forward (2 ed.). John Wiley & Sons.

Spender, J.-C. (2014). Business Strategy: Managing Uncertainty, Opportunity, and Enterprise. OUP Oxford.