Bonnenote is revolutionising the market of online tutoring.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.bonnenote.fr |
| Sectors | Content & Information Digital B2C |
| Company number | 10060351 |
| Incorporation date | 14 Mar 2016 |
Idea
Introduction
Bonnenote is an online platform that offers students from the secondary to the post-graduate level (13-25 years old) the opportunity to use an intuitive and easy-to-use interface where they can access an experienced pool of writers to assist them with their academic writing assignments, in more than 70 subjects. Bonnenote’s writers each have a specific skill set so they can be assigned to students according to the student’s needs and particular field of interest, just like a private tutor, but without the potentially hefty fee.
Our students are able to find the writer best qualified to help them within a few minutes, whenever they want or wherever they happen to be.
All documents submitted by Bonnenote are carefully vetted by our anti-plagiarism software to ensure that they are original.
Intended impact
Bonnenote aims to revolutionize the online tutoring market by continuously developing innovative services and learning tools for students of all ages and from all parts of the world so that everyone, everywhere, can have access to a better education. We plan – and expect - to become the global leader in the industry by extending our operations to at least two new countries every year.
Substantial accomplishments to date
Monetisation strategy
Our company generates revenue by collecting a fee on the price our clients pay to their tutors. The price that is charged to the student is calculated by our software and does not vary once an order is submitted.
However, the commission we charge, which corresponds to the difference between what the client pays and what the writer gets, is variable and depends on the satisfaction rating given by the student. Writers see the range (minimum to maximum) of the remuneration they will be paid before accepting an order from a client. It is then up to them to provide a top quality assignment to get the highest remuneration possible.
The quoted price for an order depends on the following parameters:
1. The student’s academic level.
2. The deadline (from 3 hours to 2 months).
3. The number of pages involved.
*Based on unaudited management accounts.
Use of proceeds
We intend to use the money raised through Seedrs primarily to:
- Implement new services (such as one-to-one online video tutoring).
- Continue to develop our platform and to create an app.
- Expand our business internationally.
- Hire interns and employees (salaries).
- Carry out a well-targeted and effective digital and direct marketing campaign to strengthen brand awareness, boost customer loyalty and substantially increase our customer base over the long-term.
Furthermore, the company intends to repay an outstanding director's loan of £10,000 to the Founder, with the funds raised as in this investment round.
Another outstanding director's loan of £34,000 (no maturity, no interest) is to be repaid with a future financing round.
Market
Target market
Characteristics of target market
Our target customers consist mainly of students from the secondary to the Ph.D level (13-25 years old) who would like to perfect their skills in a given subject with the help of an experienced professional writer with proven expertise in their particular field. In general, they are private individuals who prefer to enhance their knowledge through practical means (specific examples of top quality material related to their subject) rather than just learning the theory. They may not be financially independent or have the resources necessary to pay for the services of a private tutor and appreciate having an alternative solution on hand.
Parents who are not able to help their children with their homework assignments (because they lack time, the qualifications, or simply don’t speak the language) also constitute a substantial part of our client base. They may find Bonnenote’s services of great value as it eases their task and contributes significantly to their children’s success in school.
Marketing strategy
We have identified two distinct deployment channels for our marketing campaign to maximize customer impact. We intend to allocate most of our marketing resources to digital marketing at first, and then the remaining funds to direct marketing, which will allow us to have individualized face-to-face interactions with our customers (students and parents).
Competition strategy
Our strategy is to expand at a rapid pace and mainly in countries with little or no direct competition at the local level.
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