How to Make a Tutoring Service a Successful Business
Posted on 22nd March 2023
Tutoring is a great way for college students to earn some money and deepen their knowledge in a particular field. If you are looking into a tutoring career and potential business, this guide is for you.
Benefits of Tutoring for Students
Students that want to start working during college have a lot of opportunities. Tutoring is just one of them. It offers significant advantages. The main ones are:
It is flexible – you can work from home or online;
You stay in full control of your schedule and workload;
It requires minimal investment to start;
There are no specific educational or certification requirements to become a tutor;
It allows deepening your knowledge of the subject you are teaching;
It provides great growth and development opportunities.
It can become a successful business with the right approach and strategic planning. Although it might seem overwhelming at first to start, it is very rewarding. Surely, college students do not always have enough time for all their duties. Because of the workload and many written assignments, investing time in entrepreneurship might be hard.
However, there are ways to achieve all goals simultaneously. If you are struggling to write my research paper and make time for heavy research. Professional academic writing services offer assistance with all types of college assignments, from an essay to a dissertation. They can offer writing, editing, or proofreading for all students in need. So whether you need your paper polished or done completely from scratch, it is a great opportunity.
Experienced writers will nail any topic or subject because they are excellent at what they do. And they also provide guidance and advice on how to improve your skills. In the meantime, you can devote efforts to your tutoring business.
Turn Your Tutoring Into Business Step by Step
Choose the Subject and Clients
First of all, you need to identify what and who to teach. As for the subject, choose something you are interested in and good at. As for clients, think of who you will be comfortable working with:
School students (what grades?);
College students;
Groups or individual lessons;
Offline or online;
Tutoring for specific tests.
In business terms, you are working on your target audience. It is essential to know who will benefit from your services and how you can promote them.
Find Your Niche
There is no such thing as one size fits all when it comes to tutoring. If you decide to work with all groups of students, you might not have time to prepare for lessons properly. When all your learners are on approximately the same level and have similar goals, it is easier to fit their needs. And you can also reuse learning materials instead of preparing 10 different programs.
As for the niche, choose what is in demand and interesting for you. You can offer homework help, test preparation, focus on STEM subjects, or even narrow it down to trigonometry.
Working in one niche also will make you a better professional as you get to grow your knowledge and experience.
Decide on an Operation Model
The next step is to decide how you want to operate your business. Overall, there are three main options here:
Buy a tutoring franchise and join the existing system. It is easier in terms of setting things up. But it comes with costs and limitations. It is a valid choice, but you will not be a fully independent tutor.
Create a home-based business. You can teach online or offline at your residence. This is a flexible and cost-effective opportunity. Also, some of the costs concerning your home can be tax-deductible.
Operate as a traveling professional. In such a case, you will be coming to clients for lessons. This is also flexible and beneficial if you are going to work with children. Parents might prefer such an option as they do not have to drive their children to your place.
Define the Pricing and Selling Point
Now you need to decide on your pricing and types of lessons. Make sure to research the market first and see what the average price for similar services is. Before you set the prices, consider the related expenses (printing, driving, or buying books) to not end up with more disbursements.
The selling point is the value you are offering to clients. This is something that makes you stand out from the competition. For example, you might be working with learners with special needs. Or you can offer preparation for a specific and complex test you’ve nailed. Another example is making learning interactive and game-based.
Establish Legal Entity
It is important to take care of the legal side of the business right away. Research the legal entities you can opt for and decide which one is the best for your needs. Take your time with it, as it will influence the tax liability directly. It is also good to get some legal advice here.
You can choose from the following:
Sole Proprietorship;
Limited Liability Corporation;
C-corp;
S-corp.
Another important step is to separate your business finances from personal ones. Open a separate business bank account and credit card.
Market Your Services
The next step is to find clients. For this, you need to market your services according to the target audience. This might include starting a business website or blog, running social media ads, or posting advertising on campuses.
It is also great to get a Google My Business listing and create business profiles on online directories like Craigslist or Yelp. Craft a compelling elevator pitch and highlight the value proposition. Consider a referral system and discounts to grow your reach.
Get First Clients
Finding first clients might feel stressful. But do not worry – as soon as you start, it is going to get easier. Use your contacts and ask for recommendations. Consider offering discounts for first clients or giving special bonuses like a free first lesson.
In Summary
Tutoring is a great opportunity to earn some money and turn it into a business venture. Follow these steps to start your journey and achieve new heights.
