A study platform similar to Whatsapp where students send math questions and the system identifies wrong answers. We need funds for development against 50% equity.
A study platform similar to Whatsapp is built for math training. To use it you choose a study partner of two. After activating with recharged code, a math question with possible answers will appear to 1st partner to be sent to the other partner to give the solution. When the partner gets it wrong, the system solves it automatically with audio explanations as if he or she is solving it. The same is repeated for the second and the system will continue.
REWARD FOR STUDIES
At the end of every session between partners, each partner will be given a cumulative score up to the end of the month for cash reward or book reward which will be received at the end of the studied month. This is done to create more competition spirit of the usage. At end of every month, the best student of all using the platform will be awarded.
The target market is the JHS schools, SHS Schools and private students (Wassce and Bece) in our community and the entire country.
Due to the nature of our service, we intend to use different marketing strategy. These include, door to door registration officers, school to school presentations and registration, media advert (radio, internet, posters, banners etc.) and vendor point.
• Door To Door Registrations
Field officers will go to Houses, Streets and register people free for the service for one week then after that, they start paying by buying recharge or access code. The officers will be reporting to the head office. They are also to obtain micro investors into the service.
• School To School Presentations and Registration
School officers will be deployed to schools to make presentation of the service and also to register them free to use the service for one week after which they will start paying.
• The Media
Advert will be made in all aspects of the media to enlarge our market.
• Vendor Point
Vantage points will be created in the whole country where people can go and register as well as the purchase of access code. The point will also serve as place where micro investors can invest in the service.
The service will employ as many people as possible, including ICT experts, accountants, managers, administrators, and field officers across the whole country.
We are at the development and designing stage. We are looking for serious businessen looking for investment opportunnities in Ghana.
Competitors are math textbooks writers and online learning materials. Textbook tries as much as possible to make math attractive for children with mathematics difficulty by presenting step by step approach to solving questions. The books are not interactive. Unlike math Tutor, our platform uses auditory and visual learning effects making it interactively. Again, its assignment contains auditory and visual explanation at the end of each question.
In school, multisensory cues can help children perceive and retain information. The artful combination of audio and visual stimuli can draw attention to specific aspects, help reduce noise within the perceptual system, and provide a broad context for meaning that aids in learning. Math tutor lessons are designed using the principles above.
The use of addictive colors, background music and audio is one unique quality of our math tuition. Other initiatives do not have the audio visual components. We also use real applications which other initiatives do not use. The medium of our operations are aligned with the addictive audio visual entertainment in the country, games, video, music, and internet and phone usage. Questions are answered with audio explanation.
We designed this based on how the brain learns with our senses. The two dimensions that create a math profile according to GES are: knowledge and application. The proportions are 40:60 lower class, 30:70 upper classes. We prepare the tuition based on the profile.
THE MARKET SIZE/DEMAND
The market size is large. There are about 50 junior high schools and senior high schools (including remedial colleges) in the community with population of about 3000 students. We do charge 10 pesewa per hour for using the service making daily charge of 2.5 cedi. We estimated the daily total revenue from the product usage to be around 7500 cedi daily.
Therefore, monthly and yearly estimated total revenue 225,000 cedi monthly. We have more than 100,000 communities in the country. Therefore, we can say that the school we are targeting will be around 500,000 students. We anticipate of making 100,000 cedi a day.
We expect 200,000 dollars as equity share of 25%-50% of the profit or 3% debt financing monthly. This amount is needed to speed up the project development for next academic year. The table summarizes the use of the fund.
PROJECT ASPECTS AND THEIR PERCENTAGE OF THE FUND
• Completion: 40%
• Marketing and promotion: 30%
• Administration: 20%
• Rent and billing: 10%
So far we spent personal income from our remedial school which also needs funds. We have spent 3000 cedi including our time and resources.
The table below shows the items we spent the money on.
PROJECT ASPECTS AND THEIR PERCENTAGE OF EXPENDITURE
Rent and billing: 10%
We are looking for a silent or active investor who will provide us with the required funds against 30-50% equity.