Success story of findtutoronline.net | Worldwide computational Finance Assignmenthelp
Added: (Thu May 09 2019)
Pressbox (Press Release) -
Market Scenario:
Private tutoring market expected to grow by $152 billion in 2017 and the lion share of this market is enjoyed by online tutoring sites. It is an accepted factor that tutoring online would have a major sway in future and could be the possible mode of education as well. With growing trends of 30% increase in college admission and increasing the demands of students for remedial education, it is but natural for parents to seek e-tutoring help for their k-12 children to attune them to college studies.
India has 100 million students in private schools with a shortage of two million teachers. Addressing the needs of the current generation of students can be a large business opportunity. Online tutoring is a nascent market and companies need to build integrated and scalable models,” says K Ganesh, serial entrepreneur and Partner, GrowthStory.
“The size of private tutoring in India in k12 is around $15 billion, of this 15 percent should get converted into online by 2020,”
Online tutoring is also a fast growing market in India, with a few reports suggesting almost 40% growth YoY. As per figures from ASSOCHAM private tutoring market in India is to touch $17 bn by 2017, while another report suggested online tutoring market was $550 mn by the same year. While the exact figure is difficult to arrive at, owing to myriad reports quoting different figures, it still clarifies that while the high YoY growth is due to a smaller base, the overall private tutoring pie is a huge segment which will help online tutoring maintain and possibly exceed the current 40% YoY growth rate.
Brief of Promoter
Mr. Randeb Singha, is a educationalist and entrepreneur in true sense. He holds multiple degrees including prestigious degree of CMA (Cost & Management Accountant). His has done his Graduation in Bachelor of Commerce (B.Com) form Calcutta University in 1988 and Completed his Cost and management degree form The Institute of Cost Accountants of India (formerly ICWAI). He also completed his Master in Business Administration (MBA) degree form Indian Institute of Social Welfare & Business Management in 1996.
Before starting his business venture, he worked with DTDC Worldwide Express Limited, Aramex, Siemens Limited, Bharti Reality Limited, Quipo Infrastructure Limited and Indus Towers Limited at various middle and top management positions.
Apart from successfully running findtutoronline.net, Mr. Ranadeb Singha also work as freelance consultant and is associated with very renowned global companies like Greson Lehrman Group as GLG Educator & Council Member, as a Telecommunication consultant with Greson Lehrman Group and Coleman Research Group Inc. He is also in Circle of Experts of Guideman Advisors and Xpertconnect Singapore. He has also worked as an Advisor-Strategic Consultant with M/s Anmol Feeds Pvt. Ltd.
His ripe experience in the field of education and consultancy helped him in stablishing the online tutoring business. His exposure helped in maintaining his venture’s growth with that is industry growth which is very vital for any business to sustain.
Growth Story of findtutoronline.net
Started in 2009, as a side business running fully on offline mode, findtutoronline.net has brought back the hidden entrepreneur in Mr. Ranadeb Singha. Soon Mr. Ranadeb Singha decided to quit the full time service of M/s Indus Tower Limited and launched the full-fledged website to ride the growth of Online Tutoring.
The official website www.findtutoronline.net came in to existence in 2013 and Mr. Ranadeb Singha with the help of his wife Mrs. Sumita Singha was able to command a good market share of online tutoring in India. Currently, more than 100 teachers from all around the world are associated with findtutoronline.net and the entity has served more than 1,000 students from all over the World, including students form countries like: United States of America (USA), United Kingdom (UK), Canada, Germany, Italy, Dubai, Hongkong, Singapore, Malayasia, Turkey, Lebanon etc.
Findtutoronline.net grew with the industry and has grown @ 30% on YoY basis. Following extract from the financials of findtutoronline.net depicts the same:
Year Turnover YoY Growth
2014-15 11,32,190 22%
2015-16 16,31,528 31%
2016-17 25,72,224 37%
In current financial year, findtutoronline.net is expected to generate business of around 35-40Lacs. The entire business is handled jointly by Mr. & Mrs. Sangha and is operated from his own premises, which is also registered with various government agencies including GST.