When I looked on Yahoo Finance, it was difficult to find larger tutoring companies. I noticed that almost every company I looked at didn’t have an income statement posted and if they did, they didn’t have many investors or many things on there at all. It’s interesting to see how different these income statements are from other larger companies income statements. I learned a lot more from looking at Apple’s income statement than from any tutoring business I have seen on Yahoo Finance. Part of the problem with looking at tutoring businesses is that almost all of them are private companies and it’s hard to find one that’s not. A lot of tutoring apps even are run by private companies and you can’t usually find an income statement for those companies.
Looking at Apple actually helped me a lot. I got to see a real income statement that changes all the time. Apple is a massive company and has tons of money generating in and out of the company for their products. I also looked at the comparison in Apple from this year and previous years of income.
One of the only tutoring platforms that I found that was public on Yahoo Finance was a company called Chegg. Chegg is an online tutoring platform that began back in 2005. Chegg’s total revenue this year is about $500,000 so far. They spend a lot of their money in advertising, taxes, and in operating expenses for their app and website.
In my company, I want to make sure that even though it’s a service company, I can spend the least amount of money possible while still making sure that I can appeal to my client’s needs. Because I’m a service based company, my first dollar is the first dollar I make. I don’t have to worry about selling my products for more than I bought them for. I want to help my customers as much as possible and still maximize my profit.