Innovation and New Ventures Business Plan and Investor Presentation Coursework - 1

Innovation and New Ventures Business Plan and Investor Presentation (Service) - Coursework Example Korea is densely populated which means there will be high demand. The business capital will be raised by its three partners’ equal contributions. Mission statement Best Bet mission is to help English students in South Korea through interactive teaching to achieve value for their money by being efficient in English. Objectives 1. To create a sustainable business relationship with the South Korean English students. 2. To achieve maximum business growth and revenue by the third year in the industry. 3. To penetrate the English Teaching industry in South Korea and its neighborhood. Opportunity & Assessment Business Description Best Bet English Tutors will be offering private teaching of English as a foreign Language in South Korea. The firm is owned by three business partners; Felix Adam and Jared. The partners have done other businesses together and one of the partners has actually taught English in South Korea before. This means that the partnership has some basic details on the requirements of teaching English in South Korea. The partners also have business experience since they have other businesses though not in the teaching or tutoring sector. One of the partners is also well versant with legal matters, currency and intellectual properties regulation issues. The third partner has stayed in South Korea and worked in a local marketing firm. Best Bet English Tutors therefore will benefit from the skills and experiences of its partners. Product Definition The services Best Bet English Tutors will be offering personalized English tuition. Due to the high cost of running a teaching business on a rented space, Best Bet English Tutors intend to operate from individual homes. Others businesses in the industry usually rent out some... According to the study conducted, Best Bet English Tutors will be offering personalized English tuition. Due to the high cost of running a teaching business on a rented space, Best Bet English Tutors intend to operate from individual homes. Others businesses in the industry usually rent out some space and provide transport services to and fro the place. Best Bet, however, will stand out and be different because the tutors will be going to their clients’ home. This will ease the transport complications for the clients and it will be convenient for the business as well. It will also be cheaper for the students because the running costs will be relatively small compared to other tutors in the industry. Teaching methods will emphasize on correct grammar, appropriate pronunciation, listening, speaking, reading and writing. Handouts, textbooks, and other relevant teaching materials will be used. Periodical tests will be administered to evaluate student progress. South Korea is large ly populated which means that demand for English teaching services is high. The Koreans speak one ethnic language Korean. They have strong cultural values which set them apart from others. It is therefore important for any foreigner intending to do business in the country to understand their basic values, cultural practices and beliefs. For instance, the family ties and values are highly regarded through out the country. Each member of a family has some duties and obligation owed to his family and toward others.