Entrepreneurship - Business Plan

Abstract

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This thesis proposal is about the possibility of establishing a 24/7 English language school in Madrid emphasizing the essential need of Spanish students and working professionals to improve their English proficiency. In doing so, this business plan aims to be profitable and competitive against the current market. The main entrepreneurial goal is to define a viable business model leveraging international operations, particularly with online teachers from the Philippines conducting the online classes after 20:00 Madrid time.

The initiative originates from my personal experiences as a foreigner in Madrid and experiencing the difficulty of communication here. Considering the Macroenvironment, the improvement of the English language will hopefully lead to a continuous increase in tourism and contribution to Spain's GDP leading to a significant economic growth. Through this proposal, I target to appeal to potential investors seeing the growing potential of the Foreign Language Industry in Spain specifically the English as a Second Language Industry by providing quality English education. Moreover, the project aligns with global trends in globalization and language education. It also addresses two UN Sustainable Development Goals: Quality Education and Decent Work and Economic Growth.

The methodology involves using the Lean Canvas Model for project feasibility, conducting market research through literature review, surveys and interviews, creating operational and marketing plans, and projecting financials through an income statement. This holistic approach aims to provide valuable insights for entrepreneurs, educators, and policymakers interested in foreign language education.