Business Description:Most US students do not have access to personalized supplemental tuition at affordable rates. Center based supplemental tutoring has its own problems - rigid timings and logistics issues. Both these concerns are directly addressed in the TutorVista model.
TutorVista was founded on the premise that good quality education cannot be the purview of a chosen few, and needs to be made accessible to all those who need it, and not necessarily only those who can afford it. TutorVista offers on demand, immediate connection to a professional tutor the moment a student needs help. Students can avail the help of a tutor 24x7 and at the convenience of their home.
The service is offered at an enviable $99.99 for month - unlimited tutoring subscription package.
Industry:Education
Founded in:2005
Source of idea:Systematic search for business opportunity
Significant Competitors:TutorVista has no direct competition since there is no organized, mass market, subscription based online tutoring, with continuous assessment and feedback at the price points we offer.
Supplemental tutoring is a fragmented market with competition from US based companies at one end and local tutoring firms and tutors at the other end. A majority of the supplemental tutoring services follow a brick and mortar model. The few online businesses are mostly freelance tutors offering their services for a fee.
Some of the major corporations in the supplemental educational space are:
In the US: Educate (Sylvan Learning), Kaplan, Princeton review, Tutor.com
In the UK: Local Tutoring firms and supplemental education centers
However most of these players focus on content development with little or no emphasis on supplemental tutoring
Company Details :
Company Name:TutorVista
HeadQuarters:Bangalore
Stage of the company:Scaling up
No of Employees (2006):301-1000
No of Employees (2007):over 1000
Office Locations(2006):over 50
Office Locations(2007):
No of companies promoted:Yes (4)
Profits (2006):preprofit
Profits (2007):breakeven
>Partnerships:TutorVista has taken over Edurite and is extending its presence in India. India has a liking towards a brick and mortar framework of study and TutorVista -Edurite will be the first branded player to offer tutoring to the K-12 market. Edurite is well known in India for its Interactive content not only for CBSE but also across many other state syllabi.
Initial Funding:Personal savings
Addl Funding:Venture capital
Institutitional Capital:Yes
Revneue Model:The Business has a turnover of Rs 30 crore and is operationally profitable
Awards & honors:
Promoters Details :
Promoters Name(s):Ganesh K
Age:39
HomeTown:Bangalore
Education:Masters
No of companies promoted:Yes (4)
Family Background:First gen entrepreneur
Job:President at ICICI One Source
Ex-Job Description:CustomerAsset
Favorite Book/Movie:N.A.
