Mentor.me

Mentor.me is a mentoring service provider for high school students making a college major decision that recruits college age mentors and cultivates through an online ecosystem a premium mentor/mentee dialog to help with the college major choice. Data shows that the decision of a college major is difficult and in many cases can be unsatisfying with almost two third of students feeling overwhelmed in the college major selection process. These result in more than half of college students changing their major at least once, and 61% of college graduates who would change majors if they could go back. With expensive college costs in the range of $200,000-350,000 for 4 years this investment and future career path choice is an important investment and life decision that can become more costly in time and money if more college time is needed due to a change in major when at school.

The competitor to Mentor.me in providing valued guidance and mentoring on the college major choice is a private college counselor (PCC). With the estimated $10,000/yr PCC charge and the typically large PCC/student age gap we anticipate Mentor.me’s lower cost, larger college age mentor pool, and more focused online mentoring platform (vs PCC+zoom) will be very competitive in this underserved market. Mentor.me’s online platform provides matchmaking (highschool students with college age mentors), scheduling, video hosting mentoring sessions, feedback streams for mentors and mentees, and training material.

Mentor.me is a monthly subscription service of $200/month or $1,980 per year with options for $50 per extra session. With an estimate of $780/month from each of our student subscribers our revenue projections are: $3.7 million Phase I (1% applicants top 10 universities), $117 million Phase II (3% applicants top 100 universities), and more potential for growth in the international Phase III. The anticipated major costs include personnel, hourly rate for college student mentors by $25 per 60 min session, mentor recruitment/management, app development, app support, and advertising/outreach.

The initial mentees/mentors will be family and friends through word of mouth. If the feedback is positive we will have an invitation only period to hone the mentor/mentee experience, work through unanticipated issues, and test the pricing model. As Mentor.me gains traction and becomes a trusted name we hope to stay competitive as others enter the market through a philosophy of continually improving the mentor/mentee relationship through state-off the art matchmaking, mentor/mentee feedback, online learning tools to help mentor and mentee maximize their sessions, automated mentor/mentee monitoring, and continually training and curating a highly rated mentor pool. Mentor.me wants to be a trusted partner in a very important decision in a high school student’s life.