Technically online tutoring is defined as a process of tutoring where teachers and learners interact with each other from different locations using online, virtual or networked environments.
The strict government lockdowns and safety measures have affected roughly 1.6 billion globally. This has resulted in increased use of online tutoring by educational institutes, traditional schools, and even private tutors.
The online tutoring business has taken over the traditional education system, giving rise to several business opportunities for people.
Trends such as open content creation, peer-to-peer problem-solving, cloud infrastructure, and smarter audience targeting have enabled countless individuals to experience success in the tutoring business within a short period.
The COVID-19 outbreak resulted in the closing most educational institutions, which created significant interruptions in the learning and training activities.
This, in turn, spiked the demand for online tutoring platforms as it facilitated remote learning, 24X7 access, and a more personalized experience, thus ensuring that the teachers and students did not miss the traditional classroom system, it may also bring a number of unique opportunities, such as the potential to start a thriving tutoring agency.
The online tutoring market has the potential to grow by USD 153.07 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 15.77%.
SOURCE Technavio
Factors Contributing To The Rise Of Online Tutoring
1. Flexibility of Schedule
2. Tailored Tutoring
3. Saves commute time and cost
4. Wider geographical reach
Tips for Starting a Tutoring Business in 2022
1. Identify your area of expertise and business’ unique selling point.
2. Research your market and competitors.
3. Feature planning
4. Design- UI/UX and Branding
5. Development- Mobile app and Website
6. Figure out your pricing.
7. Research useful tools you could use.
8. Create an effective marketing strategy.
9. Launch and Improve
Revenue Generation Channels
1. Commission
2. Freemium
3. Subscription
4. Promote Tutor Profile