One venture idea I have thought of is to sell the service of tutoring. This is actually very bad timing, as the best time to start my business in school would be a week or two before the Midterm Break. However, learning is on-going, and there will always be a need for tutors. My strongest subject is mathematics, and I am able to teach it very well. This will be a great venture idea because many of my friends have been telling me to tutor them, thus having demand for the service. Startup costs are extremely low; I won't have to pitch in money to pay for heat, electricity, or any other miscellaneous expenses because I will probably be using public locations for my tutoring sessions. I won't have to pay for supplies since the students will bring their own work, paper, and writing utensils. The only legitimate expense is transportation and food. That is why the venture idea of tutoring students in math will be a great one; it is easy to execute.
Another venture idea is selling school supplies in school. In the past years, DT has had a similar project called the Trojan Junior, where they sold supplies and winter gear to the students. It wasn't very successful because students just wouldn't buy from there, and I plan to bring it back. With the Winter time rolling away, there will be no need to sell cheap winter gear; I will be foucusing on selling school supplies. This is a great idea because there is always a demand for school supplies simply beacause students need them in a school environment. There will always be times when they run out of paper, lead, ink, pencils, and pens, and that is where I will step in. However, this venture idea will be very hard to execute because I believe that students will rather borrow from their friends than to buy new supplies. But overall, this idea is very suitable in a learning environment, and the supplies will sell.
I really like your first venture idea. I am actually very bad at math and I also know many students who struggle in this area so I think that your tutoring service will definitely be successful.
ReplyDeleteYour idea on selling school supplies is good but you're also right about students borrowing from their friends. I would totally buy from Trojan Junior if they were selling school supplies because I usually run out of paper or lead.
Tutoring is a great idea for a student to start but it can also be very difficult knowing there's competition like homework club. This idea can be successful if you know a great amount of students that need assistance in math.
ReplyDeleteFor the 2nd idea, I have the similar idea. I also think it's a great idea for students to get supplies at school or near the school rather than having to travel long distance to get supplies. Students would rather borrow from their friends but eventually they'll run out of supplies so they will have to buy new supplies.
-Anna Zhu
I also suggested an idea of tutoring younger students as it would require almost no start up costs. I really like the idea because it gives you the experience while you earn a little bit of money.
ReplyDeleteAs for the second idea, It would be interesting to see the results again as Trojan Junior previously failed.
I really like the idea of tutoring because it is a simple, easy concept that requires zero to minimal start up costs. Also, it can offer you flexible schedule and it would be an easy business for you because you are so smart (HAHA) and you can tutor and mentor your younger followers. With the school supply venture, it would be a cool idea but then most students already have all their supplies with them or like stated above, they borrow from friends.
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ReplyDeleteI totally agree with your idea of tutoring because it requires zero start-up cost. It is also very bebeficaial for the students who are looking for help and providing that at a very low cost will definately attract customers and you will definately make profit. Whereas, on the other hand, I think opening store for school supplies wouldn't be that successful because students can easily borrow it from their friends as u mentioned. Yes, I know that there will be a day when they will eventually run out of paper, pen, pencils etc. but they might have stack at home and wouldn't buy the same thing instead they might just borrow it from their friends and bring their own the next day. But I will agree on "you will sell".
ReplyDeleteNitasha Sharma
Tutoring is a great business and is also fairly profitable, and a great thing is that it does not require much - if any - start up costs. Also, tutors are always wanted, and as a student it will provide nice profits and you might possibly be able to learn something from teaching others.
ReplyDeleteSchool supplies are always in a high demand, there will always be students who are needing pens, pencils, paper, etc and providing them in a school area is very convenient.
The tutor idea is very clear and understandable. The only problem I can think of is that it's only a partially in a specific time in the school. For example, midterm week is only in January and final exam week is only in June. How would you sell the idea throughout the year?
ReplyDeleteSchool supplies are convenient idea but I doubt the idea would bloom because student's supplies are usually bought by parents. Parents would go to super markets which is 10X cheaper buying a package than buying one single product at school.
Judging from Trojan Junior, the stationery business didn't seem very successful so it might be hard to make it profitable.
ReplyDeleteWith stationary, it may be a good business to come into since there may be people that actually need to purchase supplies however the problem might be how many people would actually come get supplies at school when they could wait and go to the supermarket?
ReplyDelete- Tim
I think your idea of doing personal tutor business is very good because I, for one, knows that you are extremely good at math, and even if others didn't know. They would find out eventually by word of mouth, and probably decide to give it a try in the end to seek for any ways of boosting up their marks.
ReplyDeleteAlso, the stationary selling in school idea is also very good. For students who forget a pencil or eraser for a test. It will be very convenient to purchase one at a low price and be able to be prepared for the test.
I think tutoring services provided by you is a very good idea because it already suits you and you definitely know what you are teaching. You also have the proof and reference of being on Principal’s List to gain customer trust in their tutor.
ReplyDeleteFor your second venture idea, although selling school supplies is good it is already very common. I think you’d be more successful in tutoring lessons anyways, again, a very good match for you.
Overall, I’m sure you are already aware of your suitability and abilities to tutor, good to you Clement. Good luck on your venture! :)