Traditional schools may be empty these days, but whether you like it or not, the tutorial business is on the up and up. Private tutoring is set to grow over 7% annually, growing into a $279.3-billion market by the end of 2027, a study shows. And even when the virus is taking America hostage, tutoring is on the rise.
Definitely, getting a share of this lucrative pie is a wise decision. Think about it. A good percentage of the workforce is out of a job. To confound things, millions of schoolchildren (56.4 million students in elementary and high school) and young adults are left without their traditional learning support mechanisms. Worse, many parents are crying for help too.
But this could be a glorious opportunity for you. You and your team may provide an answer to it all. And it’s all win-win. You help kids learn while at the same time help out-of-work adults earn. All you have to do is set your sights on grabbing a fair share of the tutoring market. Below are key essentials to help you get started.
What kind of tutoring should it be?
Right off the bat, know tutoring isn’t exactly a walk in the park. Kids can get unruly. Some may even throw a tantrum.
You need to do your due diligence before you ever advertise your services. And one of the essential issues you need to confront is the nature of your tutorial itself.
Are you going to teach, or are you going to start a tutorial business? There’s a difference. If you desire to impart knowledge, you need to work with a long-established tutoring practice that allows you to focus on teaching by taking care of the business end. You can advertise your subject-matter expertise over social media, or you can get in popular tutorial services as one of their reliable teachers.
On the other hand, if you want to do a business out of it all, it’s a long shot. Like any business, you have to recruit capable tutors, advertise the service, and above all, secure clients to grow your enterprise. It’s a long and winding road. The advantage? You earn a lot more in the end.
What is your specialisation?
The next step defines your audience. Will you be doing elementary students or high school? What subjects will you focus on?
Ensure that you have this all figured out before you send word that you have a tutorial business. Remember, you are your best advertisement. To capture a piece of that pie, parents are expecting you to know your subject by heart. And can shine as a subject-matter expert. If not, forget about teaching.
Make a budget
Then as a business owner, you need a budget. You have to know in advance what are the things you need to start and how much money is needed to get going.
For instance, if you want to explore blended learning with your tutorials, you may need some space to accommodate a handful of students from time to time. To note, blended learning with its combination of e-learning methods and face-to-face classes showed great promise in producing results.
Moreover, you will have to get the proper equipment to facilitate classroom instruction. For one, a good teacher’s desk for the classroom should give you a headstart. A durable desk does not only win in the aesthetics department, but it also lasts a lifetime despite the wear and tear.
So have a budget in mind. And stick to the budget as much as you can. Know that miscellaneous costs are bound to come up from time to time. But if you’ve done your homework, these things can be dealt with in no time.
Do some research
Going into a business without proper research is like driving blind. You sabotage yourself. Somewhere, somehow, a disaster ahead is bound to happen.
To increase your success rate, do some market research. You have to know what the market wants concerning this business. Find out who your competitors are and how you can be better. Remember, it’s about brand equity. So the question you need to answer is: What makes your brand stand out?
Set a price
Next, set your prices. How much will your tutorial cost? Will the payment be monthly or an hourly one? Have these things ironed-out. Let people know how much it would cost for a certain number of subjects. Think about what kind of pricing system you want to opt for. For some tutoring businesses, certain subjects cost a lot more.
Also, do you want to charge low or high? One piece of advice here is not charging too low as you can easily be construed as of lower quality. And don’t charge too high too because not so many people can afford it. Again, you need to do your due diligence here.
Market your business
Lastly, market your business. Now that you have the essentials factored in spread the good news.
To boot, you can go on different social media platforms to market your business. If you have access to the phone number of some parents, drop them a line. Let them know the services you offer. You will be surprised to find out just how many parents will give you a positive reaction. The more topsy-turvy the present educational system becomes, the more people will need someone like you to help out. And as you’ve prepped well, the chance should favour you like no other.