90+ My Tuition app, a K-12 ed-tech platform, plans to open 100 brick-and-mortar centers in Kerala and Karnataka – essentially Bengaluru, by the end of FY23, Vingish Vijay, founder, told FE Education online. “Of this 100, first ten centers will be hybrid in nature in Kerala. This means it will be a combination of online classes and offline. Our study capsules will be available in video formats to students,” he added. According to Vijay, the company aims to earn Rs 1.4 crore of revenue from every center and Rs 61.6 crore of net revenue in FY23. He clarified that the company is not looking to earn profit in the first two years of operation from the centers.
The company further plans to open centers in Maharashtra, Uttar Pradesh, Delhi and Madhya Pradesh in FY24,” he added. The first center is scheduled to open in August, 2022.
The ed-tech platform, which offers online classes between eight to 12 grade based on Central Board of Secondary Education (CBSE) and State claims that the fee it earns from students is the primary source of revenue. “The average fee is about Rs 30,000, which includes offline class fee and app subscription,” Vijay said. As per the company, rent of the centers and teachers’ fee are two main areas of expenditure. The company plans to double the frequency of classes to increase the net revenue.
The centers have an area of 5,000 square feet, on average and comprises five classrooms with 25-30 students in each class. The ed-tech platform further claimed that it had planned to launch hybrid centers in early 2020, but due to Covid-19, could not. “We had conducted a survey in Kerala and found that parents are interested in sending students to the offline tuition centers, and that is why we decided to go ahead,” Vijay added. He claimed that the company has received interest from about 4,000 parents for the offline centers and thus planned to launch the centers in Kerala, first.
The company claims that 90+ My app tuition centers work similar to traditional centers with the only difference being classes at the hybrid centers are led by videos, followed by physical instruction from the teacher.