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By M. Marin
Elite Education Group (NASDAQ:EEIQ) believes that by providing an end-to-end solution for students seeking to study abroad, including language training to help students improve English language proficiency, preparatory services to help with the application process to gain admission to its partnered university, as well as a full range of solutions while students are at the destination university, the company makes it possible for Chinese students who might not otherwise pursue international study to do so. Elite aims to be a one-stop solution to make it easier for candidates to prepare for and apply for international study and then complete study abroad.
The number of Chinese international students in the U.S. grew by a roughly 11% CAGR from 2009 to 2019. Chinese students represented roughly 33% of the U.S. international student population, according to IIE, and form the largest population of students studying internationally. Thus, the student body represents an important addressable market for EEIQ. The growth in Chinese students studying abroad has been dramatic as China’s GDP has increased.
Expanding Partnerships With Additional Universities In New Markets
Elite’s partnership with Miami University (MU) of Ohio, one of the oldest U.S. public universities, has led to a 20% CAGR in the numbers of enrolled students since 2013. The company intends to replicate this successful partnership at universities in other nations (U.K., Canada, Australia and others) to increase its enrollments and boost revenue. For instance, Elite has established a partnership with the University of Northumbria at Newcastle and begun recruiting for students to study at this academic institution.
The company also has an online education platform in partnerships with MU and the University of Northumbria. Proceeds of the company's recent IPO are earmarked to advance this initiative.
Expanding Services To New Markets
The company also plans to offer its services in additional Asian markets for students who want to study in the U.S., the U.K., Canada and potentially other nations. Elite intends to replicate the success it has enjoyed with its China-MU model with new projects in markets in Southeast Asia.
By making it easier for students from a growing number of countries to navigate the application process and then to facilitate their living and studying situations when they arrive at their international destinations, EEIQ expects to fuel revenue growth.
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