Every once in a while, there’s an idea that suddenly becomes extremely profitable. It won’t necessarily be a new idea, but different factors mean that it has become one of the best ways to develop a very lucrative income source. . Most of you have read the title, so you already know what we’re talking about today!
Yes, tutoring has become one of the latest ways for individuals to make a lot of money. It’s a business model that has a lot to love about it, but why has it suddenly become so popular and how can you take advantage of it?
Changes in attitudes
The main reason tutoring is now very popular is that people have experienced a change in attitudes to teaching and schooling. Part of the reason for this is the ongoing pandemic, which has seen many parents question if traditional schooling is the best approach for their kids. Loads of people have seen the benefits of a more one-on-one approach, but they obviously don’t have the time to homeschool their kids. Instead, tutoring offers a good compromise. Their kids can get the one-on-one teaching they need, and the parents can go to work without sacrificing anything.
Alongside this, you also have many students that feel as though they have lost out on two years of proper education. They have exams coming up in the summer that is very important, yet they feel thoroughly underprepared. So, the demand for tutors to supplement ongoing schooling has also increased. As with any business idea, when the demand for a service goes up, it will make that service more profitable.
How can you jump on this trend?
Interestingly, you don’t need any qualifications to be a tutor. All you need is the knowledge to teach kids certain subjects, and the patience to work with children. Therefore, anyone can make money being a tutor!
There are three key things you can try to implement that will help you make as much money as possible:
- Home visits
- Virtual tutoring
- Your own classroom
If you visit the homes of children, you make life easier for them and the parents. You can go door-to-door tutoring kids, and you can charge extra because you’re making the effort to go to them. Similarly, you could have your own classroom where you teach your kids. All you need is some office space, then you can decorate it with affordable classroom furniture to make it look like an educational space. Kids can book to come to you for lessons instead of school – or even after school. This allows you to offer small group bookings as well, so some kids could study with friends if they wanted.
Virtual tutoring is great as it lets you teach kids from all over the world. You have video calls with them, you set their lessons and homework, and you stay in contact virtually. It’s a low-cost method on your behalf, and it’s also highly convenient for children and families.
Set your rates, advertise yourself online in all the right places, and you could be set for a winning business idea.