Competishun Shark Tank India Episode Review
Website Information:
- Website:- Competishun
- Build on CMS WordPress
- SEO Improvement Needed
- ORGANIC TRAFFIC:- 2,235 organic visitors per month.
Founders:
- Neeraj Saini, Mohit Kumar Tyagi, and Amit Bijarnia are Co-founders of ‘Competishun,’ an Ed-Tech platform for JEE and NEET exam preparation.
- They have been working in the education field for around 20 years.
- They have developed the ‘Competishun’ platform over the past 3 years.
- Mohit Kumar Tyagi confidently mentioned their 1 million followers on their YouTube channel.
Company and Product
- Competishun is an Ed-Tech platform focused on JEE and NEET exam preparation.
- It offers online coaching at Rs 30,000 compared to Rs 3,00,000 for offline coaching.
- Claimed to offer affordable and effective coaching compared to traditional offline institutes.
Business Model
- Revenue Model: Online coaching fees
- Target Audience: JEE and NEET aspirants
Shark Tank India Pitch
- Ask: Rs 2 crore for 1% equity
- Key Points:
- Emphasis on affordability and effectiveness
- Comparison with traditional offline coaching institutes
- The claim of having 1 million YouTube followers
Shark Tank India Air Date:
- Season 3, Episode 49, 28 March 2024
Sharks’ Reactions and Outcome
- Initial Interest: Sharks were initially intrigued by the concept of affordable online coaching
- Concerns: Doubts raised about the business model, valuation, and comparison with other ed-tech platforms
- Criticism: Founders were criticized for their aggressive stance against other ed-tech companies
- Outcome: No investment offers from any of the sharks
Key Takeaways
- The concept of affordable online coaching showed potential
- The founders’ aggressive approach and valuation were major deterrents
- The sharks emphasized the importance of a clear business model and differentiation
Competishun Shark Tank India Review Website Data
| Category | Details |
|---|---|
| Website Information | |
| Website | Competishun |
| Platform | CMS WordPress |
| SEO | Improvement needed |
| Organic Traffic | 2,235 organic visitors per month |
| Founders | |
| Founders | Neeraj Saini, Mohit Kumar Tyagi, and Amit Bijarnia |
| Experience | 20 years in the education field |
| Development | 3 years to develop the Competishun platform |
| YouTube Following | 1 million followers |
| Company and Product | |
| Model | Ed-Tech platform focused on JEE and NEET exam preparation |
| Product | Online coaching |
| Pricing | Rs 30,000 compared to Rs 3,00,000 for offline coaching |
| Value Proposition | Affordable and effective coaching compared to traditional offline institutes |
| Business Potential in India | |
| Market Size | India’s education sector valued at USD 101 billion in 2021 |
| Growth Rate | Ed-Tech market growing at a CAGR of 20%, projected to reach USD 30 billion by 2025 |
| Demand | High demand for quality and affordable coaching solutions for JEE and NEET exams |
| Unique Value Proposition (UVP) | |
| Affordability | Online coaching at Rs 30,000 |
| Accessibility | Leveraging technology for accessible learning |
| Expertise | Experienced faculty with a proven track record |
| Total Addressable Market (TAM) | |
| JEE Aspirants | Over 1.2 million students annually |
| NEET Aspirants | Approximately 1.8 million students annually |
| Conversion Rate | Assuming a 5% conversion rate for online coaching |
| TAM Estimate | Potentially 180,000 students, estimated TAM of Rs 5400 crores |
| Ideal Target Audience | |
| Age | 16-19 years |
| Location | Tier 1, Tier 2, and Tier 3 cities across India |
| Income | Middle-class to upper-middle-class families |
| Aspirations | Cracking JEE or NEET to secure admission in prestigious engineering or medical colleges |
| Psychographics | Motivated, ambitious, focused on academic excellence, seeking affordable and effective coaching solutions, open to online learning platforms |
| Marketing Strategy | |
| Brand Positioning | Affordable, accessible, and effective online coaching for JEE and NEET |
| Digital Marketing | SEO, SEM, Social Media Marketing, Content Marketing, Email Marketing, Affiliate Marketing |
| Influencer Marketing | Collaborate with JEE and NEET toppers and influencers |
| Offline Marketing | Targeted print media, radio, and outdoor advertising |
| Content and Digital Marketing Strategy | |
| Content Pillars | JEE and NEET exam preparation tips, educational content, motivational content, student success stories, live webinars and workshops |
| Digital Channels | YouTube, Instagram, Facebook, website, email marketing |
| Distribution Strategy | |
| Direct-to-Student | Online platform for course delivery and sales |
| Partnerships | Collaborate with schools and coaching institutes for student referrals |
| Affiliates | Commission-based partnerships with influencers and educational platforms |
| Advantages | |
| Pricing | Affordable pricing compared to traditional coaching institutes |
| Business Model | Scalable online model |
| Faculty | Experienced faculty with a proven track record |
| Audience | Large existing YouTube follower base |
| CLTV | Potential for high customer lifetime value (CLTV) |
| Challenges | |
| Competition | Intense competition from established Ed-Tech players |
| Acquisition Costs | High customer acquisition costs |
| Content Quality | Maintaining high-quality content and faculty |
| Technology Dependence | Dependence on technology for smooth operations |
| Reasons for Success | |
| Market Demand | Strong market demand for affordable online coaching |
| Value Proposition | Clear value proposition and target audience focus |
| Founding Team | Experienced founding team with a deep understanding of the education sector |
| Scalability | Potential for high scalability and profitability |
| Social Impact | Opportunity to create a positive social impact by providing quality education to a larger audience |
| Mitigation Strategies | |
| Technology Investment | Continuous investment in technology and platform improvement |
| Acquisition and Retention | Aggressive customer acquisition and retention strategies |
| Brand Building | Focus on building a strong brand and reputation |
| Revenue Diversification | Diversification of revenue streams |
| Strategic Partnerships | Strategic partnerships with schools and coaching institutes |
| Future Business Roadmap | |
| Course Expansion | Expand course offerings to cover other competitive exams |
| Personalized Learning | Introduce personalized learning paths for students |
| AI Tools | Develop AI-powered tools for adaptive learning and performance analytics |
| Offline and Hybrid Models | Explore offline test centers and hybrid learning models |
| International Expansion | Explore international markets |
| Acquisitions and Partnerships | Strategic acquisitions or partnerships to enhance offerings |
| Additional Insights | |
| Partnerships | Collaborate with schools, colleges, and coaching institutes for student referrals |
| Data Analytics | Utilize data to personalize learning experiences and improve student outcomes |
| Brand Building | Invest in brand building activities to create a strong brand identity |
| Target Audience Understanding | Understanding the specific needs and preferences of JEE and NEET aspirants |
| Competition Analysis | Analyzing the competitive landscape and identifying unique selling points |
| Monetization | Exploring different revenue models beyond coaching fees |
| Technology | Investing in technology to enhance the learning experience |
| Brand Building | Creating a strong brand identity and building trust with students |
| Customer Acquisition | Effective marketing strategies to reach the target audience |
| Customer Retention | Implementing strategies to retain students and encourage referrals |
Competishun: A Detailed Business Plan
Competishun Business Potential in India
India’s Massive Ed-Tech Market:
- India’s education sector is the second-largest in the world, valued at USD 101 billion in 2021.
- The Ed-Tech market is growing at a CAGR of 20% to reach USD 30 billion by 2025.
- The JEE and NEET exams are highly competitive, with millions of students aspiring to crack them annually.
- This creates a massive demand for quality and affordable coaching solutions.
Competishun’s Unique Value Proposition (UVP):
- Affordable online coaching at Rs 30,000 compared to traditional offline institutes’ Rs 3,00,000.
- Leveraging technology to provide accessible and effective learning.
- Experienced faculty with a proven track record.
Competishun Total Addressable Market (TAM)
JEE and NEET Aspirants:
- Over 1.2 million students appear for the JEE exam annually.
- Approximately 1.8 million students appear for the NEET exam annually.
- Assuming a conversion rate of 5% for online coaching, the potential TAM for Competishun is around 180,000 students.
- Considering an average fee of Rs 30,000, the TAM is estimated to be Rs 5400 crores.
Competishun Ideal Target Audience
Demographics:
- Age: 16-19 years
- Location: Tier 1, Tier 2, and Tier 3 cities across India
- Income: Middle-class to upper-middle-class families
- Aspirations: Cracking JEE or NEET to secure admission in prestigious engineering or medical colleges
Psychographics:
- Highly motivated and ambitious students
- Focused on achieving academic excellence
- Seeking affordable and effective coaching solutions
- Open to online learning platforms
Competishun Marketing Strategy
Brand Positioning:
- Affordable, accessible, and effective online coaching for JEE and NEET.
- Emphasize the cost-benefit advantage compared to traditional coaching institutes.
Marketing Channels:
- Digital Marketing: SEO, SEM, Social Media Marketing, Content Marketing, Email Marketing, Affiliate Marketing
- Influencer Marketing: Collaborate with JEE and NEET toppers and influencers
- Offline Marketing: Targeted print media, radio, and outdoor advertising
Competishun Content and Digital Marketing Strategy
Content Pillars:
- JEE and NEET exam preparation tips
- Educational content (physics, chemistry, biology)
- Motivational and inspirational content
- Student success stories
- Live webinars and workshops
Digital Marketing Channels:
- YouTube: Create engaging video content, leverage Competishun’s existing 1 million subscriber base
- Instagram: Share short, visually appealing content, engage with the target audience
- Facebook: Target specific demographics with relevant content
- Website: Optimize for SEO, create high-quality content, generate leads
- Email Marketing: Build an email list, send personalized content and offers
Competishun Distribution Strategy
- Direct-to-Student: Online platform for course delivery and sales
- Partnerships: Collaborate with schools and coaching institutes for student referrals
- Affiliates: Offer commission-based partnerships with influencers and educational platforms
Competishun Advantages
- Affordable pricing compared to traditional coaching institutes
- Scalable online business model
- Experienced faculty with a proven track record
- Large existing YouTube follower base
- Potential for high customer lifetime value (CLTV)
Competishun Challenges
- Intense competition from established Ed-Tech players
- Customer acquisition costs
- Maintaining high-quality content and faculty
- Dependence on technology for smooth operations
Reasons for Competishun’s Success
- Strong market demand for affordable online coaching
- Clear value proposition and target audience focus
- Experienced founding team with a deep understanding of the education sector
- Potential for high scalability and profitability
- Opportunity to create a positive social impact by providing quality education to a larger audience
Mitigation Strategies
- Continuous investment in technology and platform improvement
- Aggressive customer acquisition and retention strategies
- Focus on building a strong brand and reputation
- Diversification of revenue streams
- Strategic partnerships with schools and coaching institutes
Future Business Roadmap and Valuation Increase
- Expand course offerings to cover other competitive exams (e.g., JEE Advanced, NEET PG)
- Introduce personalized learning paths for students
- Develop AI-powered tools for adaptive learning and performance analytics
- Explore offline test centers and hybrid learning models
- International expansion
- Strategic acquisitions or partnerships to enhance offerings
Additional Insights:
- Partnerships: Collaborate with schools, colleges, and coaching institutes for student referrals
- Data Analytics: Utilize data to personalize learning experiences and improve student outcomes
- Brand Building: Invest in brand building activities to create a strong brand identity
- Target Audience: Understanding the specific needs and preferences of JEE and NEET aspirants.
- Competition: Analyzing the competitive landscape and identifying unique selling points.
- Monetization: Exploring different revenue models beyond coaching fees.
- Technology: Investing in technology to enhance the learning experience.
- Brand Building: Creating a strong brand identity and building trust with students.
- Customer Acquisition: Effective marketing strategies to reach the target audience.
- Customer Retention: Implementing strategies to retain students and encourage referrals.
Note: This analysis is based on available information and assumptions. A comprehensive business plan would require in-depth market research, financial projections, and a detailed competitive analysis.
Overall
Competishun faced challenges in convincing the sharks due to their aggressive stance, unrealistic valuation, and lack of clarity in their business model. While the concept of affordable online coaching holds promise, the execution and presentation were not convincing enough to secure investment.
Note: This summary is based on the provided information and does not include detailed market analysis or business plan components.
Competishun Shark Tank India Episode Review