Get 5 tickets in 3 months. K12 one-to-one industry meets new challenges. How can elite education break through?

Bullet Finance 2021-08-08 22:33:35 阅读数:609

tickets months. months k12 one-to-one
Under the heavy pressure of double reduction policy and supervision ,K12 Opportunities and challenges for educational and training institutions .

author | Huang Yanhua

edit | The egg always

Produce | Bullet economy

since “ Double subtraction ” After the introduction of the policy , Domestic education industry “ Aftershocks keep going ”. But in fact , stay “ Double subtraction ” Before the policy is officially promulgated , There have already been many relevant in the industry “ The wind ” It's spreading , This has triggered a succession of market turmoil .

Not only did education stocks listed in the United States fall collectively , For example, tal has exceeded... Due to intraday sharp decline 50% And had to temporarily suspend trading ; There are also listed in the United States 3 For more than years and mainly “K12 one-on-one ” Model elite education , Recently, the regulator issued a new ticket .

According to the website of Shanghai Market Supervision Bureau , Shanghai elite education training Co., Ltd ( Hereinafter referred to as “ Elite education ”) Pudong 17th branch recently broke the advertising law , Fined by Shanghai Pudong New Area market supervision administration 8 Ten thousand yuan , And confiscate advertising expenses .

in fact , Elite education was previously due to false publicity 、 Illegal advertising and other acts have received many fines from the regulators : This year, 4 month , He was administratively punished three times for advertising violations ;6 month 1 Japan , Due to false or misleading business publicity , The company was even fined 250 Ten thousand yuan .

in the capacity of K12 Why does elite education, one of the education giants, repeatedly receive fines ? Facing regulatory pressure , Can elite education keep its position in the Jianghu for more than ten years ?“ Double subtraction ” Under the policy ,K12 What difficulties will the one-to-one industry face ?

1、3 A month's salary 5 Tickets

This year, 4 Month to 6 month , Elite education received a total of... From the regulators 5 Tickets , From an objective point of view , Every ticket is “ No injustice ”.

Let's take what elite education has recently received 8 For a $10000 ticket .

According to China ( Shanghai ) Decision on administrative punishment of the market supervision and Administration Bureau of the pilot free trade zone ,2021 year 5 month 12 Japan , Law enforcement personnel conducted on-site inspection on Shanghai Elite Education and training center , Find it 2 Floor store post “2020 The number one student in the college entrance examination in Shanghai in, Hualuo elite ” My bulletin board , Page shows “ Senior high school entrance examination 600 More than 136 people , The key admission score line of gaokaoda city has broken through 3700 people , College entrance examination 580 Score above, break through 128 people ” Etc .

After verification , The advertisement does not indicate the source , Nor did you find the advertising content involved from the official website of Shanghai Jingrui education and training Co., Ltd , In addition, other sources cannot be found .

And the advertisement violates 《 Advertisement Law of the People's Republic of China 》 Article 11, paragraph 2 “ Advertising usage data 、 Statistics 、 Findings 、 Abstract 、 Quotation, etc , It should be true 、 accuracy , And show the source . The quotation has the scope of application and validity period , It should be made clear that .” The provisions of the .

Then with elite education and other 12 All institutions were fined together 250 Take ten thousand yuan .

6 month 1 Japan , A piece of information displayed by the national enterprise credit information publicity system , Elite education is in its official WeChat official account. 、 The publicity of the website contains “ Elite VIP Teachers are different … Top in national professional examination 5%”、“ Through the training of Peking University ,10 Major in 1 Yes 1 Teaching experience , Accumulated counseling 30000 Hours ” The content such as , Fictitious teacher qualifications , Fictional teacher training 、 Teaching experience .

And this behavior belongs to false or misleading business publicity , A violation of the 《 Anti Unfair Competition Law of the people's Republic of China 》 Article 8, paragraph 1 .

Besides , The official WeChat official account is marked during the sales course “ The original price ¥2800 Regular winter vacation class Time limited 111 element / Families, ( Three subjects of language, mathematics and English )”、“ The original price ¥4200 Regular summer classes Time limited 199 element / Families, ( Three subjects of language, mathematics and English )” The content such as .

Verified , None of the above courses has been traded at the marked original price or marked price , It constitutes the behavior of using false or misleading price means to lure consumers into trading , A violation of the 《 Price law of the people's Republic of China 》 Article 14 ( Four ) Regulations .

More Than This , Elite education this year 4 The month also encountered an unprecedented “ Three consecutive penalties ”.

4 month 2 Japan , Elite education received the administrative punishment from Shanghai Putuo District market supervision and Administration Bureau 0.84 Ten thousand yuan ;4 month 15 Japan , Elite education was administratively punished by Shanghai Pudong New Area market supervision administration 3.9999 Ten thousand yuan ;4 month 21 Japan , Elite education has also received administrative punishment from Shanghai Jiading District market supervision and Administration Bureau 2 Ten thousand yuan .

「 Bullet economy 」 From the official documents of the above regulatory authorities ,“ Three consecutive penalties ” This is mainly because some advertising slogans of elite education make explicit or implied guarantee commitments to the effect of education and training , And constitute the act of recommending to unspecified persons in the name of the beneficiary , Even released the personal image of professors from well-known colleges and universities as proof, and so on , These actions violate 《 Advertisement Law of the People's Republic of China 》 Relevant provisions of Article 24 .( For details, see “ National enterprise credit information publicity system ” In the web page “ Shanghai elite education training Co., Ltd ” Administrative penalty information )

It needs to be mentioned that , If the above behaviors were left behind, it might be all right , But the problem is , This year, K12 The education and training industry is in a regulatory storm , The determination of the state to rectify the industry is extremely firm and decisive .

Take the strict control of teachers' qualifications as an example , As early as this year 2 month 5 Japan , The Beijing Municipal Education Commission has issued a notice , Ask online education institutions to check the information of in-service teachers , Ensure that subject teachers have teacher qualifications .2 month 15 Before the day , All courses on sale for personnel without teacher qualification are off the shelves .

therefore , At a time of tighter regulation , It is not difficult to understand that the above misconduct of elite education is investigated and publicized .

「 Bullet economy 」 When communicating with elite education about being fined , Elite education did not directly respond to relevant questions , But said the company returned to the original intention of education , In the future, it is planned to set up a comprehensive quality development center for teenagers , Carry out quality education .

2、 Both revenue and net profit increased negatively

Logically speaking , Listed companies generally regulate their business behavior , Especially for elite education, an enterprise that emphasizes high-end services , And we shouldn't have repeated violations .

“ High end means higher price , It also means higher service quality , The more high-end, the more attention should be paid to the enterprise brand image , Reduce the probability of litigation . High end users care more about the product quality behind the high-end brand 、 Planning, operation and learning effect .” Xu Huaxiang, a senior education investor 「 Bullet economy 」 Express .

therefore , Elite education has been punished several times , In addition to the above direct reasons , There are deeper reasons .

“ Elite education should follow ‘ Mismanagement ’ There is a certain relationship .” Xu Hua explained , If an enterprise touches the red line of the law for the first time, it is an accident , After that, I stumbled in similar things one after another , To some extent, it means that the enterprise has certain management loopholes .

And the problems in Management , Perhaps we can see from the successive departure of elite education executives in the past two years :

2019 year , Senior vice president of elite education ZhuxiuDong and CFO Li Dong left ;2020 year 1 month 31 Japan , Zhang Min, an independent director of the company, resigned for personal reasons ;2020 year 2 month 11 Japan , Meng Xiaoqiang, senior vice president in charge of early childhood education, and Ma mu, vice president of technology R & D center, left for personal reasons , Both are in 2014 Joined elite education ;2021 year 6 month 21 Japan , Shi tuanwei, chief technology officer of the company, resigned for personal reasons ;2021 year 6 month 26 Japan , The directors of the company 、 Zuo Honggang, chief financial officer and Chief Strategic Officer, resigned from the above position for family reasons ......

Of course , Elite education for many times “ Take a ticket ” It can't be entirely attributed to management problems , Perhaps because of its unsatisfactory performance in recent years , This leads to... In marketing publicity “ I'm in a bit of a hurry ” 了 .

According to the prospectus of elite education and previous financial reports ,2016 Fiscal year to 2019 The fiscal year , The company's revenue growth has been at 34% above , However , here we are 2020 The fiscal year , Its revenue growth suddenly turned negative , by -13.90%, Even just past 2021 First half of fiscal year , The company's revenue is still not out of the negative growth range , by -3.96%.

actually , It is not just revenue that elite education faces the dilemma of negative growth , It also includes net profit .

According to the prospectus and financial report previously released by elite education ,2015 Fiscal year to 2019 The fiscal year , The company has been profitable . however , here we are 2020 The fiscal year , The company changes from profit to loss , The net loss is as high as 7.25 One hundred million yuan , And the state of loss has continued to this day . According to the latest financial report ,2021 First half of fiscal year , Elite education net loss 3.32 One hundred million yuan , fell 213.21%.

In addition to the poor performance of revenue and net profit , Elite education has also fallen into the embarrassing situation of high asset liability ratio .

According to the financial report previously released by elite education , In the past 7 In the last quarter , The company's asset liability ratio has increased from 2019 The fiscal year Q4 At the end of the day 80.94% Wind up 2021 The fiscal year Q2 At the end of the day 97.94%, Always higher than 80%.

It needs to be mentioned that , Elite education has tried to force online business , To save the performance decline . According to the 「 Bullet economy 」 understand , During last year's epidemic , Elite education accelerates online layout , Integrate its online assets with elite online as a unified platform , It is intended to build the first high-end personalized education in China OMO platform .

But from the results , Elite education failed to achieve its wish . According to the company's previously released financial report , In the past four quarters , The contribution of elite online to the total revenue of elite education has increased from 2020 The fiscal year Q3 Of 6% Slide down to 2021 The fiscal year Q2 Of 3.5%.

From this point of view , The performance of elite education in recent years is not ideal , In addition, after the introduction of the double reduction policy , Education stocks listed in the United States generally fell sharply , Elite education is also “ There is no escape from bad luck ”, As of US east time 7 month 27 Closed yesterday , Elite Education Report 0.539 dollar / stocks , Market value only 8699 Thousands of dollars .

3、 One to one industry meets new challenges

as everyone knows , Everything happens because of the superposition of many reasons . Now , The challenges faced by elite education “ Be beset with troubles internally and externally ”, To some extent, it also highlights K12 Problems in the one-to-one industry itself , Elite education may be one of the epitomes of the plight of the industry .

at present , Elite education mainly includes elite · Individualization ( High-end K12 One on one counseling service )、 Elite · Children's education and elite online . According to the latest quarterly report ,2021 The fiscal year Q2, The contribution of the three businesses to the total revenue of elite education is 78.9%、16.6% and 3.5%.

thus it can be seen , The main track where elite education is located is actually K12 one-on-one , And across K12 The problem facing one-on-one players is also obvious .

“K12 It is usually difficult for one-to-one institutions to achieve external expansion .” Feng Hao, an executive of an off campus training institution, told 「 Bullet economy 」 Express , Compared with the inland cities represented by Beijing K12 Parents at this stage , Coastal cities represented by Shanghai K12 Parents at this stage generally agree with the one-to-one and small class model . In the former, only high-income families will choose one-on-one counseling , Most families still choose to participate in small class or large class Counseling .

therefore , It is relatively easy for elite education to expand to coastal cities , But to expand inland cities is not as simple as imagined .

Some people think that ,K12 One to one institutions can screen out target users by searching keyword delivery , But it's hard .“ Many users who click on ads can't afford this price at all , As a result, the production ratio of the mechanism is particularly low .” Feng Hao said frankly .

Besides ,K12 One to one organizations usually use “X Yuan Ling free class ” How to play , Then arrange telemarketing personnel to follow up . however , The end result is often that many people need to take classes , But very few people will choose to buy long-term classes .“ Some of these people who buy long-term classes may go after a few classes , Find it too expensive and choose not to come .” Feng Hao said .

what's more , Parents in newly expanded cities have low brand awareness , It will make K12 The expansion of one-to-one institutions is blocked .

“ Tell the truth , Elite education in Shanghai K12 Brand awareness among parents is OK , To Beijing , Because of the acquisition of giant education in the industry and Beijing K12 A certain brand awareness has been formed in the parent circle , But to inland cities such as Xi'an , Few parents know the brand of elite education .” Feng Hao said .

And that also means , If elite education wants to gain a firm foothold in Xi'an market , It is bound to cost more .

Of course ,K12 The constraint of one-to-one institutional expansion is not only the low awareness of the brand by parents , It also includes differences in enrollment patterns .

To engage in for a long time K12 Li Kun of one-to-one industry ( alias ) towards 「 Bullet economy 」 According to , Shanghai Education and training institutions such as elite education pay more attention to e-marketing ( Telemarketing ) How to play , Generally, there will be a huge customer service telemarketing team .

“ Differences in enrollment and customer acquisition across regions , It has a lot to do with local regulation and market environment .” According to Li Kun , Distributing leaflets on the streets of Shanghai is generally not allowed , At the same time, many Shanghai schools do not allow outsiders to enter at will .“ A lot of admissions moves , You can't do .” He said .

But because Shanghai's economy is relatively developed , Therefore, parents are generally used to contacting search engines , In this way , Many organizations spend most of their budgets on online channels .

In addition to the electric pin play , There are also many offline channels to try , For example, by pushing 、 Cooperate to cover the target users in the cell and its surroundings , But these are not what elite are good at .

“ Different from New Oriental 、 Tal and other institutions will have a huge marketing department , Many Shanghai Education and training institutions such as Jingrui either have no marketing department , Or only a smaller marketing department .” Li Kun said .

Besides ,K12 The entry threshold of one-to-one industry is low , As long as there are teachers in the organization , Can recruit students , You can usually do one-on-one .“ It doesn't matter whether there is a venue , The venue can be found in the back .” Feng Hao said .

chart / Photo net , be based on VRF agreement

According to Feng Hao , A friend he knows is in his spare time , Only two teachers from the school , An offline teaching point was opened , Specially designed for K12 Provide one-on-one counseling services for gifted students .“ He doesn't need to recruit too many students every year , Twenty or thirty students are enough , It can also achieve a revenue scale of 56 million yuan a year .”

at present , In addition to elite education 、 Education, etc K12 One on one player , There are still many small and medium-sized one-to-one institutions on the market .

And because of the current New Oriental 、 Most institutions such as tal can't open classes offline , But one-on-one coaching can still be done .“ before , One on one teachers teach students in the Learning Center , Now tutor students at home or find a compromise place , Does not affect service delivery .” Li Kun said .

what's more ,K12 One on one coaching can... To some extent “ avoid ” Evidence from the investigation of the regulatory authorities .

Li Kun explained , There are many students in work class , It is difficult to ensure that every student is satisfied , Once a student is not satisfied , The probability of teachers being reported is very high . But one-on-one coaching , It means that a teacher tutors only one student , The tutored students themselves are vested interests .“ In this case , How can a student report to his teacher ?”

therefore , More class institutions will turn to one-on-one counseling , Industry competition may become more intense .

Besides , Second tier cities like Xi'an with low consumption power and economic level , Although there are K12 Parents choose one-on-one counseling services , But this part of the population is relatively limited , And how to reach this part of the population is also a difficult problem .

Predictably enough , Low user brand awareness , In addition, factors such as intensified competition , Will eventually push up K12 The cost of getting customers for one-on-one players .

however , There are some K12 One on one players are also trying to conquer “ The cost of getting customers is high ” The problem of .

such as , Elite education “ High end coaching ” How to play , That is, boasting that they provide high-end K12 One to one service .“ Actually , High end is its brand strategy , This can filter out many users who are not suitable for one-to-one , Because many users will think about whether they want to order , Non high-end users are likely to leave , Finally, the cost of getting customers is further reduced .” Li Kun analyzed .

In addition to emphasizing high-end , Elite education also tries to achieve regional expansion through mergers and acquisitions .2018 year 10 month , Elite Education announced the acquisition of Beijing giant ,CEO Zhang Xi once sent an internal letter saying , Since then, giant education will officially open the independent listing plan . This is also regarded as a major strategic layout of elite education in the Beijing market .

But Li Kun doesn't seem to be optimistic about their marriage “ Qian Dao ”.“ at present , The leaders of elite in Beijing are almost all the original New Oriental bubble people , They are still remaking the previous play of New Oriental . The problem is , Under the blessing of New Oriental brand , The bubble itself doesn't understand , Can you just run over there and understand ?” He said .

chart / Photo net , be based on VRF agreement

It is worth noting that ,“ How to optimize the cost structure ” It's obsession K12 One-on-one players have a heart disease .

Xu Hua said , Compared to class , The unit price of one-to-one customer is higher , The resulting marketing expenses 、 The cost of teachers is also relatively higher . In the face of rising rent 、 Uncontrollable factors such as high marketing costs , How to optimize and adjust the cost structure , To try to ensure the company's book profit , obviously , This is a test of the company's internal financial accounting ability and whether the team has a keen sense of the market .

however , Feng Hao provides a solution to this problem .

“K12 One to one institutions can make more use of the advantages of online Internet to weaken offline entities . such as , Several core cities set up experience centers , Other cities are covered online , Will be more OMO some . at present , Not yet K12 One on one organizations are trying this way .” Feng Hao said .

Besides , Put on K12 Another problem facing one-on-one players is “ How to ensure that the externalization of curriculum effect is obvious ”.

Xu Hua mentioned , Although users are not satisfied with the teaching effect, one-to-one teachers can be replaced , But whether parents are authorized institutions , It depends on whether he spends a lot of money in exchange for a greater improvement in his children's performance . And how to train teachers quickly , How can the teaching and research team quickly adjust the plan according to the learning ability and learning status of different children , Achieve the practical and considerable effect of students' points , You need a systematic optimization model , This is not a day's work .

So far ,“ How to re apply for approval through qualification ” Will also become K12 A new challenge for one-on-one players .

Li Kun revealed , Now, some places have gradually withdrawn the school running license and business license previously issued to training institutions , And require the latter to re apply for approval according to the new standards .

Taking Xihua county of Henan Province as an example ,7 month 19 Japan , Issued by Xihua county, Zhoukou City, Henan Province 《 Announcement of Xihua county people's Government on re application and re examination and approval of out of school training institutions 》, Among them, all out of school training institutions in the county are required to be temporarily shut down , Stop all training and teaching activities , The relevant functional department shall take back the original license , Apply for approval again .

If the request for re application for approval is extended to more provinces and cities , Means that the K12 Many branches of one-to-one institutions may face non-compliance results .“ After all , Before, many branches, including them, through various channels 、 All kinds of relationships , Got the school license and business license .” Li Kun said frankly .

Predictably enough , Affected by this ,K12 Education and training institutions may spend a lot of money in the future to realize the compliant operation of the branch school .“ If their additional costs increase , Profits are naturally less .” Li Kun said .

Undeniable? ,K12 The education and training industry is under strong supervision , Compared with class institutions , The living environment of one-on-one institutions is relatively not so bad , Even a little “ A blessing in disguise ” The mean of . But in “ Double subtraction ” After the introduction of the policy , Not only the supervision is further tightened , Market demand may also shrink to a certain extent , The one-to-one industry is facing regional expansion 、 Optimization of cost structure and externalization of curriculum effect , It still needs practitioners to explore for a long time and solve them one by one .

otherwise , Institutions may face more than a ticket , It's a life and death challenge .

* The picture is from : Photo net , be based on VRF agreement .

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