Bryan's Tutoring Service

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Tutoring Service Business Plan

Company Summary

Bryan's Tutoring Service provides tutoring services in quantitative courses in the Salem, Oregon area. Focussed primarily on students in the graduate school of management at Willamette University, tutoring is available in courses including: accounting, statistics, finance, calculus and business mathematics, and economics. Tutoring services are also available to students from other programs including undergraduate classes and community college courses. Tutoring sessions focus on helping students grasp the concepts they will need to know to perform well in their class, as well as developing study strategies to effectively prepare for exams in their class. A long-term focus of empowering students is favored over a short-term problem-solving strategy.

2.1 Company Ownership

Bryan's Tutoring Service is a sole proprietorship. The company is owned and operated by Bryan Thomas. As the company continues to grow, it is foreseen that it will be transitioned into a Limited Liability Company (LLC). An LLC structure will soon be favored to offer liability protection.

2.2 Company History

Bryan's Tutoring Service came into being by accident. The founder, Bryan Thomas, was a graduate student at the Willamette University Graduate School of Management. During the first year of the program, a fellow student approached him and asked for assistance in understanding the concepts from one of the courses that was going to be tested on an upcoming exam. They got together for what was to be the first of many study sessions and a long-term friendship. For the remainder of the year, the two met regularly to discuss course topics and would frequently include other students as well.

With previous teaching experience in a large language school, Bryan discovered that he was able to connect with students and help them understand concepts in ways that their professors were unable to - interestingly, to many students the concepts in the quantitative courses were as foreign as Portuguese or Korean. As the year progressed, the size of the study sessions grew to include other students - with Bryan spending much of the time at the front of the group explaining concepts and leading the discussion.

At the end of the first year, a position became available for the following year to work for the school as a tutor. The position paid poorly, and was limited to only a few hours per week. The "tutoring" sessions were open to all students in the program and often had as many as 30 students in the room. It was at this point that several students approached Bryan seeking private tutoring and were willing to pay for these sessions. From this was born Bryan's Tutoring Service. For the remainder of the year, Bryan provided tutoring both in large review sessions and in private sessions with paying students. Since that time, the business has continued to grow as new students have entered the program and tutoring has expanded to undergraduate courses.

Past Performance
2001 2002 2003
Sales $0 $8,500 $11,455
Gross Margin $0 $255 $344
Gross Margin % 0.00% 3.00% 3.00%
Operating Expenses $0 $9,000 $9,500
Balance Sheet
2001 2002 2003
Current Assets
Cash $0 $3,500 $4,212
Other Current Assets $0 $200 $300
Total Current Assets $0 $3,700 $4,512
Long-term Assets
Long-term Assets $0 $0 $0
Accumulated Depreciation $0 $0 $0
Total Long-term Assets $0 $0 $0
Total Assets $0 $3,700 $4,512
Current Liabilities
Accounts Payable $0 $85 $135
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $0 $85 $135
Long-term Liabilities $0 $0 $0
Total Liabilities $0 $85 $135
Paid-in Capital $0 $0 $0
Retained Earnings $0 $3,615 $4,377
Earnings $0 $0 $0
Total Capital $0 $3,615 $4,377
Total Capital and Liabilities $0 $3,700 $4,512
Other Inputs
Payment Days 0 0 0

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