Reference no: EM133039242

State of the Tuition Industry in Singapore:

• Singapore households spent S$1.4 billion on tuition, based on the Household Expenditure Survey conducted by the Department of Statistics from October 2017 to September 2018.
• The number of tuition and enrichment centres has seen a corresponding increase over the years, growing from about 700 in 2012 to more than 950 today.
• Strong desire for tuition by Singaporean parents so that their children can keep up with the competition and not lose out.
• Besides tuition and enrichment centres, there are also tuition agencies that link tutors for tutees/parents, as well as Telegram groups (the largest I know has 13k subscribers) which posts many tuition assignments for tutors to apply for.
• Statistics:https://www.todayonline.com/commentary/tuition-has-ballooned-s14b-industry-singapore-should-we-be-concerned
• Statistics:https://smiletutor.sg/an-overview-of-tuition-in-singapore/
• Covid-19:https://www.ricemedia.co/current-affairs-commentary-will-covid-19-spell-end-singapores-tuition-industry/

Proposed Idea - Business Model of Online Tuition Matchmaking Platform:

• NOT online learning platform & online tutoring, IS online matchmaking between parents & tutors for in-person tutoring
• Offer an online tuition matchmaking platform adopting a freemium business model
• Tutors are able to post listings with their "resume/experiences" and any other information about themselves (Supply of tuition services)
• Tutors will be rated using a review system so higher rated tutors implies better quality of teaching which translates to more business for the tutor
• Tutees/Parents can also post listings with their "demands/requirements" and any other information they would require for themselves/their child (Demand of tuition services)
• The online platform allows for in-app communication between tutors and tutees in order for them to find a good match
• Tutors/tutees can only video/voice call after they have communicated via text previously - to prevent random spam
• This platform earns money by providing "premium" service or "featured ads" where customers have to pay a fee in order to obtain greater visibility on the platform (targeted more towards the private tutors; and consequently, more revenue for private tutors)
• Advertisement space within the platform serve as another potential source of revenue for the startup

Based on the above information, Discuss and Elaborate the Internal Analysis and SWOT (Strengths, Weaknesses, Opportunities, Threats) of Online Tuition Matchmaking Platform (as compared with the Tuition Industry in Singapore), by providing more examples.