“Education is the most powerful tool that can change the world”, said Mandela.
It is a primary necessity of every citizen. At present, the education system has developed in leaps and bounds compared to what it was. It has become one of the leading business sectors in the world. But unfortunately, it all came to a crashing halt due to the outbreak of the Corona Virus that spread worldwide putting everything on hold.
But with the advent of edTech, an ingenious amalgamation of education with technology everyone is able to progress academically without any setbacks. According to CNBC, when the pandemic was at its peak i.e. during mid-April, the virus caused complete, nationwide closure of all educational institutions in about 190 countries, impacting over 90% of the total student population, adding up to almost 1.6 billion people globally. With more people looking for learning resources online, analysts predict that Asia’s growing-youth population will be the main reason for the growth of this sector.
Hence there cannot be better timing for budding entrepreneurs to consider starting their very own online tutoring classes. There is no need to fret, education has always been a booming billion-dollar business. There is always a demand for learning. People across all walks of life are always interested in self-education through any means that is convenient to them.
The very thought of having access to unlimited knowledge databases covering multiple fields, from across different parts of the world right from the comfort of their respective locations will attract them towards any robust online learning platforms.
How to start an online tutoring business?
Starting a new e-learning business is not as easy as it sounds. There is a lot that goes on behind the scenes. One needs to do vast research and carefully plan on how to bring ideas to life.
For that, they would have to,
- Understand the required skillset
- Choose a suitable niche
- Research the target audience and competition
- Determine the education level and tutoring materials
- Evaluate pricing and other financial aspects
- Plan and develop your marketing strategy
Types of tutoring methods
Based on what you choose you can then head forward and plan to execute the same.
- Synchronous tutoring: A type of online tutoring where it requires both the tutor and the student to be online at the same time. It thrives on live interaction. In order to implement this type of tutoring method a few additional software like- live video and audio streamer, a real-time chat window, and a common e-learning platform is required.
- Asynchronous tutoring: Here, the tutor and the student need not be online at the same point in time. The tutor can email or upload the tuition material and students can access them whenever they want to.
- Combination tutoring: Online tutoring doesn’t limit itself to one type. You can also choose to provide both Synchronous and Asynchronous tutoring methods through your online platform.
Business and revenue model
The first step in starting any business is to chalk-out its business and revenue model. The growth and development of your business depend solely on the founding steps you lay.
A typical business plan includes:
- A summary of your business
- Market overview
- Sales & Marketing strategies
- Operational strategies
- The value proposition of your products and services
- Organization & Management team framework
- Financial and Legal aspects
Niche to focus
Once your model is finalized, you can then concentrate on finding the right suitable niche or the subject you want to focus on. And for this, you have to first,
- Get to know your audience
- Know your competitors
- Know the supply and demand stats for your topic in the market
Mapping course outline
This is one of the most crucial steps in deciding how to start an online tutoring business. Once you have chosen what you want to teach on your platform, the next question is “how” to execute it. And for this, you need to weigh all the options in front of you and make a fully informed decision else this might lead to a negative impact on your e-learning business.
- List the primary outcome of the course you have decided to offer
- Identify the skills that your students need to inculcate in order to achieve the set primary outcome
- Based on this, divide your course material into several modules or sections and fix clear cut goals for each of them – each section must aim to build and add value to the previous ones. It has to progress naturally with each section building on top of the previous sections.
Format of the course-delivery
Once you have gathered the required materials and have a clear cut curriculum, the next step is to plan the implementation. There are many ways in which you can opt. Some of them are-
- By distributing text-based documents
- Through PowerPoint presentations
- By Uploading videos
- Streaming the lectures live
- Through podcasting etc
Building your online tutoring platform
Now that you have decided what and how you are going to teach your students, Let’s weigh out various options for you to start an online learning business.
There are two ways,
- Signing up for an existing tutoring network
- Building your own e-learning platform
Both have advantages and disadvantages of their own.
In this article, we are concentrating on a detailed step-to-step guide to building your own online tutoring business.
In order to build your own tutoring website you first need to have the proper financial resources, the required time frame, and the right software. The software should be able to provide at least the basic features and should also have the option for customization.
Basic functionalities and features of an eLearning platform
- Video calling facility
- The embedded virtual writing board software
- Document sharing facility
- Notification Alerts
- Progress Analyzer and Tracker
- Class scheduler
- Payment gateways
- Dashboards dedicated to the admin, tutors, and students
- Review and Rating Option
Based on the financial and time factors you can develop your own website,
- On your own or by hiring a tech team
- Use Turnkey solution
For someone who is completely new to the online business, we would definitely suggest you go with a Turnkey solution like Pinlearn, as it is cost-effective, a great time saver, and also it has scope for customization and they will provide you with the entire code for your future use
Increasing student engagement
Once you have developed your online tutorial, the main issue is – student retention.
So, how to keep the students engaged with your courses? Here are a few tips-
- Conduct periodic tests and assessments
- Use the technique of storytelling
- Parts of lessons can be animated to attract their attention
- Conduct student surveys after every modules,
- Create room for healthy discussion within the student community through a virtual chat room facility
As mentioned previously, the education sector is a highly profitable business to be in. In fact, from being a $107 billion market in 2015, the industry is expected to triple by 2025 and become worth $350 billion. Hence the right pricing plays a pivotal role in generating your revenue. Here are a few ways which you can adopt in order to make good monetary benefits.
- Charge additionally for one-on-one classes
- Or you could provide the courses for free of cost but charge for certification and course materials
- Chargeable membership fees
Till now we have covered all the important aspects of developing an e-learning platform. Now let’s move on to see how we can establish our global footprint and market ourselves to reach out to a global audience.
- Social Media Marketing
- Email Marketing
- Influencer Marketing
- Share customer testimonies, reviews, and ratings
- Newsletters etc
On a concluding note, setting up an online tutoring business is not an easy task. One requires complete dedication and a great deal of effort right from the very inception of the idea. You will always have to be on your toes and be extremely adaptive to new teaching methods. Adapt, improve, and update is the mantra of a successful e-learning business. The future is your playground, make most of it.
Don’t hesitate to contact us for any kind of services or help you require. We are just a click away!