Going Deep on the
– Business Plan –
AlgebraVictory! is being created in English, which is the largest language in the world by number of speakers (about 1.2 billion), but only a quarter of them (336 million) learned English as their first language—English is the most widely taught second language, by far. Although only a few nations have English as their official language, there are significant numbers of English speakers in nearly all nations.
Our primary initial market will be homeschoolers: (a) in the U.S. (a potential $450 million market for AlgebraVictory!; (b) in eight foreign nations where English is an official language (a potential $20 million market including in Canada, U.K., Ireland, Australia, New Zealand, Philippines, India, and South Africa); and (c) in other nations (market potential unknown—prices will be lower in less developed nations). More than half of EEC’s activities are directed at persons in foreign countries.
Additional markets will be added with later versions of AlgebraVictory! including: (a) to assist students enrolled in algebra at school; and (b) translations of AlgebraVictory! into non-English languages.
There is currently NO competition offering any product that can effectively teach Algebra One to the Middle 80% of students.
U.S. homeschool market potential: $450 million
(2,250,000 eligible students)
According to the National Home Education Research Institute, there are currently about 4.5 to 5.0 million homeschoolers in grades K–12. Grades K-12 span 13 years (ages 5–17). We will take that as 4.5 million. Given the fact that AlgebraVictory! eliminates the prerequisite of Advanced Arithmetic (which is taught within AlgebraVictory!), and given that so-called “pre-algebra” is eliminated, the age of entry for algebra is significantly reduced. This widens our market among homeschoolers because a significant portion of home-schooled children aged 9 (and even younger) can pass the Prerequisite Quiz for AlgebraVictory!. Assuming that most homeschool kids aged 16 and up have already completed algebra (although they might not have understood it), that means homeschool kids ages 9–15 (spanning 7 years) constitute our initial market. That is approximately one-half of the 4.5 million homeschoolers, or roughly 2,250,000 kids.
Pricing will be in the range of $150 to $500 per student. Assuming a launch price of $200 gives us an initial, U.S. homeschool 2022 market potential of $450 million.
Homeschool market potential in Eight English-Official Foreign Nations (‘8EOFN’): $20 Million (168,000 eligible students)
According to homeschool statistics obtained from Home School Legal Defense Association combined with Wikipedia, there are currently about 335,000 homeschoolers in Canada, U.K., Ireland, Australia, New Zealand, Philippines, India and South Africa. English is an official language in these eight nations. As with the U.S. above, we take half of that to obtain 168,000 kids.
Assuming lower pricing (60% of the U.S. price), gives us an initial, homeschool market potential (as of 2021) of $20 million.
Expanded market potential
Mark loves to be the teacher. He also loves to determine the curriculum and to use his own materials (rather than the latest abysmal algebra textbook). In AlgebraVictory!, Mark teaches his curriculum using his materials. This works well for homeschoolers who are intentionally avoiding the educational establishment. It also works for another significant market: adults not in school who wish to learn algebra.
In contrast, Mark dislikes being in the position of tutoring students who are in a class taught by a teacher who is inadequately trained and uses abysmal materials. Mark spent thousands of hours spanning 25 years doing that kind of tutoring, constantly cleaning up messes (including emotional messes), rather than teaching the students correctly the first time. Yet, students in schools need help too! And this market is vast: students enrolled in public and private schools, including community colleges, who are struggling with algebra. Many are victims of the educational establishment. Later versions of AlgebraVictory! will provide automatic tutoring for such students, although this is technically more difficult than teaching algebra correctly the first time.
On top of all that, the non-English market is huge. We will translate AlgebraVictory! into other languages, including Spanish, Mandarin Chinese, Hindi, French, Arabic, and Russian, and this will significantly increase EEC’s foreign activities.
Finally, when AlgebraVictory! Teacher Training is released, an entirely new market will open up leading to fundamental changes that resolve the Math Education Crisis. And for every teacher and school than embraces AlgebraVictory!, their students will have to enroll in a school-appropriate version of AlgebraVictory!, which will open up a vast market.
And then, there will be GeometryPower, on which all of the above will be repeated! And after that, more advanced math courses. The sky is the limit! And it’s going to be fun! It’s already fun!
We have not yet attempted to quantify any of this expanded market potential, and it is not included in the financial projection, which is based solely on AlgebraVictory! in the homeschool market.
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