Student Feedback

Plato’s Cave

By May 21, 2020July 6th, 2020No Comments

Beginners say: “I want to learn how to dance, but it is so expensive!”
Semi-professionals say: “I have won many awards as a dancer, but I do not have qualifications to teach in schools!”
What if we found a way to match them together? Wouldn’t it be a win-win situation for both parties?

At Plato’s Cave, we aim to provide an online platform, bringing together people who want to share their knowledge and people who want to learn. It is free to join and the range of courses offered are limited only by what our entire community has to offer.
This takes advantage of Singaporeans’ high interest in Leisure and Recreation, which represents 8.7% of annual consumer expenditure. Furthermore, with a high internet penetration rate and increasing trust in online marketplaces and secure payment methods, a web interface is an ideal location to seek out new activities to join. In addition, the target group of white-collared professionals aged between 25 and 39 years old, forms 43% of the age-group, showing substantial market potential.
Even though competitors may already exist in this young industry, Plato’s Cave stands out in two ways:
1. Through the use of e$, skill-sharers can exchange their skills for others. This creates a two-way process, which taps on the social activeness of our target group.
2. By allowing semi-professionals to teach, costs are kept low for learners. Besides the free market, Plato’s Cave’s integrity is further protected by review and ratings that justify the credentials of the instructors.
Having tested a preliminary version in the market and using conservative assumptions, Plato’s Cave is expected to be valued at $380,000 after 5 years and making revenues of about $400,000. This reflects a great market opportunity and one that is also scalable to other countries to increase profit potential.
With diverse business specializations, Plato’s Cave management team of 7 founders has developed a comprehensive company strategy, while equipped with the relevant business acumen to remain flexible as the operations grow.

At Plato’s Cave,
Semi-professionals say: “I can finally share my passion with others”, while
Beginners say: “I can learn what I want at a low cost and commitment!”

Leave a Reply