The tuition portal was established in 1999 and built a sizeable presence in Singapore. The company converted to a Pte. Ltd. in Nov 2011. The business matches the right tutor to the student. The portal has 40K tutors and 30K students in its database. Currently the business has 3 staff - a collections person, a tuition co-ordinator and a manager. Business is self running and does not need much intervention from the owner. Owner just needs to sign cheques.
2011 revenue is $600K and the nett profit is $100K. The company has notebooks and a website as assets. Receivables is about $20 K per month and Account Payables is about $10K per month. Premises is rented at $2200 per month and sub-letted to break even.
Owner is looking to sell the business at $300,000 and is willing to be retained for 3 months to ensure smooth handover to the new owner.