Industry Analysis and Trends – Our business idea actually spans three markets: Montessori preschool, home school enrichment, and children’s theater. The home school market in our area is a close strong community. There is only one other home school enrichment program in the area but there is an interest in having additional programs. I will be focusing mostly on the Home School enrichment program portion because it is the primary aspect of the plan. The theater is an addition project. There are no children’s theaters on the island, there is one theater that puts on one children’s show a year and it is very popular. A year round offering would be beneficial and welcome.
- Industry Overview – The Montessori and Home Schooling industry are growing. The number of home school students has double over the past 5 years. There are currently around 6,000 home school age students.
- Market Opportunity – The market is primed for this business, there are a large number of families interested in home school enrichment program.
- Barriers to Entry – The biggest barrier we have found so far is finding a location suitable for the business, in a desirable location and in our price range. There are a few places that fit the bill and are vacant but the owner is resistant for some reason.
- Long-Term Opportunities – Laws are often changing about school. Currently the laws are favorable for homeschooling. If the public opinion changed and law was to follow it would make this part of our business obsolete.
Target Market – Our primary market will be home school families in the Ewa Beach area. A lot of these families are military and are temporarily in the area. The target age group for students is 3-9 with the possibility of evening workshops to target older children and allow for public school children to join. The Theater will be targeting all families interested in sharing a show. The target age range will be 5-15 depending on the show.
- Market Description – The daily Enrichment program will target Home Schooled children between the ages of 3-9. The Montessori curriculum and flexible schedule will appeal to families that want to stay away from the public school format and are looking for alternatives.
- Market Size and Trends – From Today.com: “Though such students represent an estimated 3 percent of the population, evidence suggests that home-schooling is a growing trend in America.” And From ABCNews.com: “Students taught at home consistently score higher then the national average on the SAT and ACT standardized tests.”
- Target Customers – The customers are the parents that have made the choice to home school and are looking for a way to augment what they are teaching at home. The program is also designed to provide a social outlet for home school children. We are not a full curriculum school or meant to be a full time education provider. The program is only designed to be an addition to what is being provided in the home.
- Market Readiness – The market and community needs this program and once they understand the value of what it offers they will be excited to take advantage of the program.
- Strategic Opportunities – We have a lot of great timing advantages right now. There is no competition on our side of the island and the one other program is very limited. The Ewa Beach area is going and currently has several military communities. Much of our research shows that the military community makes up a large percentage of home schooling families. The general home school community is very active here and has several support networks and activity groups.
The Competition – The Home School Enrichment center is a concept that is gaining notoriety in the mainland but is still under represented in Hawaii. There is one other program on Oahu but they are not Montessori and they only operate on Mondays. Out program will be available four days a week with several schedule options.
- Competitors The only direct Competitor is Kailua Homeschool Resource Center (https://sites.google.com/site/kailuahrc/). Indirectly other competition might include public school or charter preschools. But these are hard to consider because of the unique service we offer. We are in a desirable location for the theater aspect of the business as well because most other live theaters are on Honolulu. Our location will be more accessible for families not living in the Honolulu.
- Advantages – Kailua Homeschool Resource Center offers a one day a week schedule for students to experience a classroom setting education. The students still receive the social aspect we will provide but the rigidity of the schedule leave little more for flexibility with the parents. With only the one day options parents don’t have the ability to work around any other commitments that might come up. A homeschoolers schedule is often busy and fluid.
- Barriers to Entry – Finding a reasonable price range that will be affordable for the market and profitable for the business. I foresee no complications with competitors because we are still unique enough to have a wide open client base.
- Strategic Opportunities – I think our two biggest advantages are schedule and location. The four days a week opposed to one is a huge difference. Geographically we are separated enough that we wouldn’t even be serving the same client pool. The Home School community here in Oahu is close enough that we could absolutely collaborate on projects throughout the year.
