ScholarshipAssist helps college-bound students find scholarship money. ScholarshipAssist can increase the amount of scholarship money for students with a scholarship, or increase the probability of receiving a scholarship award to those who are close to receiving one. ScholarshipAssist offers personalized consulting and a vast database of scholarships.
Keys to Success
ScholarshipAssist has identified three keys to success which it believes will be instrumental to the health of the organization. First, customers must be offered significant value. A 60% success rate is required to secure scholarships and increase the amount. Adherence to strict financial controls is the third key.
Market
ScholarshipAssist is able to segment its market into two distinct groups. The first group is sure thing applicants, the market segment that is very likely to receive scholarships. This segment is increasing at 10% per year, with 93,000 potential clients. This group includes the questionables. Their needs will be met significantly by ScholarshipAssist’s guidance. This group has a 11% annual rate and 112,000 potential participants.
Management
Steve Tracker, a veteran in the industry, is heading ScholarshipAssist. Steve’s education includes a Babson College MBA in Business. He worked in the Fannie Mae financial aid department, Babson college and Pew Charitable Trust Foundation. ScholarshipAssist can only succeed with a skilled manager.
ScholarshipAssist projects sales of $172 589 in year two, and $232 508 in year three. The next three years will see increased profitability. ScholarshipAssist’s combination of a well-designed business plan in a rapidly growing market and a skilled manager will allow for rapid market penetration in a dynamic market.
1.1 Mission
The mission of ScholarshipAssist is to help thousands of college students realize their dream of attending college by helping them find scholarships. ScholarshipAssist will aim to maintain 100% customer satisfaction for all clients.
1.2 Objectives
- Be the resource for scholarship assistance
- You will reach profitability by year end.
- Within three years, achieve annual sales of $200,000
1.3 Keys for Success
- A comprehensive database with useful information about application and scholarships can provide clients with significant value.
- Help at least 60% of the clients secure significant scholarships.
- Maintain strict financial controls.
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