“In the heart of our community stands a mighty oak, a symbol of resilience and growth. Oak Tree Academy is born from this spirit, offering personalized, high-quality tutoring to nurture the minds and spirits of our children.
By employing master educators, we aim to foster academic excellence and cultural pride, creating a sanctuary of learning where every child's potential is realized. Investing in Oak Tree Academy is investing in our community's future, ensuring that our children rise strong, confident, and prepared to lead. Join us in this noble endeavor and help cultivate a brighter future for all.”
— Germar Reed, Founding Member
Business Plan for Oak Tree Academy After-School and Weekend Tutoring Program
Executive Summary
Vision: To create a premier after-school and weekend educational program that empowers Black children through personalized and high-quality tutoring, fostering academic excellence and cultural pride.
Mission: Our mission is to provide exceptional 1:1 and small group tutoring for Black children, conducted by highly compensated master educators, to ensure outstanding academic outcomes and cultural enrichment. We aim to involve parents deeply in the curriculum and culture through dedicated board of fathers and board of mothers.
Objectives:
Achieve academic excellence in math and reading for Black students.
Attract and retain top-tier educators by offering competitive compensation.
Foster a culturally enriching environment that instills pride and confidence in students.
Operate as a profitable business, ensuring long-term sustainability and growth.
Business Description
Oak Tree Academy
Oak Tree Academy is a for-profit after-school and weekend tutoring program designed to support Black children in the historically black northwest area of Washington, DC. The academy will provide 1:1 and small group tutoring sessions focused on math and reading, delivered by master educators from local schools.
Key Features:
Target Market: Black students in the surrounding neighborhoods.
Hours of Operation: Monday to Friday, 3 PM to 5 PM, and Saturdays, 9 AM to 12 PM.
Session Structure: Each session is 30 minutes long, with each student attending 1 math and 1 reading session per week.
Market Analysis
Industry Overview:
The demand for high-quality tutoring services has grown significantly as parents seek to provide their children with additional support to excel academically. Black students, in particular, benefit from culturally relevant educational programs that address their unique needs and challenges.
Target Market:
Our primary target market includes the 5,207 Black households with children in the surrounding neighborhoods of Washington, DC, focusing on high-income earning Black families who are seeking specialized and high-quality tutoring services for their children.
Sources:
Census Reporter for demographic and economic data.
Greater Greater Washington, NeighborhoodScout, Niche, and City-Data for neighborhood descriptions and household statistics.
Point2 Homes and NeighborhoodScout for detailed data on Colonial Village and Shepherd Park.
Competitive Analysis:
Strengths: Personalized tutoring, highly qualified educators, cultural relevance, strong community involvement.
Weaknesses: Higher pricing compared to some competitors, limited initial capacity.
Opportunities: Growing demand for quality education, potential for expansion, strong community support.
Threats: Competition from other tutoring centers, economic downturns affecting affordability.
Marketing and Sales Strategy
Marketing Plan:
Community Engagement: Build strong relationships with local schools, churches, and community organizations.
Social Media: Leverage social media platforms to reach parents and promote success stories.
Events and Workshops: Host free educational workshops and events to showcase the program’s benefits.
Referral Program: Implement a referral program to encourage word-of-mouth marketing.
Sales Strategy:
Tuition Pricing: Charge $92 per 30-minute session.
Enrollment Process: Streamlined online enrollment process with clear information on pricing and scheduling.
Customer Service: Provide exceptional customer service to build trust and long-term relationships with families.
Operations Plan
Staffing:
Teachers: Hire 5 master educators at an hourly rate of $80, working 13 hours per week.
Administrative Staff: Hire administrative support to manage enrollment, scheduling, and communication.
Location:
Secure a centrally located facility that is easily accessible for families in the community.
Technology:
Implement an online platform for scheduling, communication, and progress tracking.
Financial Plan
Assumptions:
Teacher Salaries: $260,000 annually for 5 teachers.
Operating Expenses: $200,000 annually.
Total Expenses: $460,000 annually.
Profit Margin: 30% desired profit margin.
Total Revenue Needed: $598,000 annually.
Revenue Model:
Tuition Fees: $92 per 30-minute session.
Weekly Cost per Student: $184 (2 sessions per week).
Student Capacity: 65 students per week.
Financial Projections:
Annual Revenue: $598,000.
Annual Expenses: $460,000.
Annual Profit: $138,000 (30% profit margin).
Governance and Community Involvement
Governance Structure:
Board of Directors: Comprising the small group of investors to oversee the business.
Board of Fathers and Board of Mothers: Separate boards to review and approve the curriculum and school culture, requiring a 3/4 vote from both boards to pass or change anything.
Community Involvement:
Engage parents and community leaders in decision-making processes.
Offer scholarships and sliding scale tuition options to support low-income families
Conclusion
Oak Tree Academy aims to provide a transformative educational experience for Black children, combining high-quality tutoring with a strong cultural foundation. With the support of dedicated investors and the community, we are poised to make a significant impact on the academic success and personal development of our students.
Call to Action:
We invite you to join us in this impactful venture by investing in Oak Tree Academy. Together, we can create a brighter future for Black children in our community.