Despite the tough competition, there are always needs to learn English as a second language, especially for students and business people dealing with International business. Yes, the market is there. That being said, here is an online business idea we want to explore today: Online English tutoring.
The first question would be: Why Online English tutoring?
Attending class is a hassle for many of us. While learning from installed software or web apps is a typical step taken by many, the truth is tutoring with real teacher will always work best.
Now think about it: How about starting a website facilitating students to learn English from a real online tutor – in private? I’m sure the demand is quite big.
Earning potential
I have talked with a US-based online English tutoring business owner a couple of years ago. The owner mentioned that the demand is high.
Despite the admittedly lack of marketing efforts (his marketing strategy: Words of mouth) he managed to make semi-passive 4-digit monthly revenue (about $4,000 in revenue a month, with more than 50% net profit, to be exact.) Not huge, but lucrative, indeed.
Dig deeper into the online English tutoring online business idea
Now let’s explore the online business idea deeper…
How things work
The idea is to assign an online Engish tutor to a student, and course fees are charged on per-hour basis. Think of the online business idea as the online version of an English language learning center.
This kind of business requires minimal work hours as your job as an owner is to overseer everything… and marketing, marketing, marketing. That being said, you should expect working 2-3 hours a day doing what’s necessary. However, if you are willing to outsource site management in exchange for reduced net profits, you might only need to work on weekends for a total of 4 hours a week or so.
Technical overview
Technically speaking, one-on-one tutoring is made possible by Skype, plus an app that logs time for payment/billing. The online English tutoring website is for registration purposes, as well as a meeting place if you use forums and add a blog to it. All in all, the real action is in the Skype.
How about the online tutors?
English tutors are paid a portion of the online tutoring hourly rate. The key success factor in this kind of online business model is the availability of qualitifed online English tutors. It’s best for you to source for the tutors from an agencies to minimise the possibilities of lack of tutors.
Marketing and promotion
“Build it and they will come” just don’t work with any online businesses. No matter how powerful is your backend system or how professional looking is your website, if you can’t get people to visit your website, you will fail sooner or later.
It’s essential for you to use search engine marketing and social media marketing campaigns to build up buzz and bring in targeted traffic: People looking to learn conversational English in private session, online.
Also, don’t forget your off line marketing efforts – attend trade shows, cross-marketing with complementing businesses, and so on – again, the key is to bring in targeted traffic.
So – are you in or not?
So, are you interested and ready to get started? If so, I have one, last tip; the first and foremost thing you should do is to choose the right business name and domain name, as easy, memorable, brandable domain name is crucial in your success.
If you want to, grab premium domain names to get that catchy, brandable domain names. It’s quite an investment up front (can be in the thousands of dollar if the name is really brandable) but it pays off quickly, in my opinion.
Good luck!
Ivan Widjaya
Online English tutor business idea