In a highly competitive society, both the students and parents are looking for private tutors to guide their kids to score good marks. According to a survey conducted by Eoneducation, tutoring is a 1.5 lakh crore business in India.
Personalized learning (eLearning and tutoring) is encouraged by schools and colleges and is expected to reach $1.29billion by 2018, growing at 17% CAGR. This is expected to be faster than the global growth by a factor of 2x. The higher education sector witnesses spending of over $6.93 billion, and it is expected to grow at an average annual rate of over 18% to reach $34.87 billion in next 10 years.
According to ASSOCHAM, 86% of Indian parents enroll children in coaching classes and home tuitions either due to lack of time or they aren’t aware of the subject. Approx. 85% of working parents had said that they cannot pay attention to their child’s education as sometimes they are away from home. Considering all these statistics, here I have listed out the benefits of starting a tutoring business in India for your reference.
Startup Costs are Minimal
You don’t have to spend money initially. All you have to do is get a website and tutors who are interested to do part time for your company. You can connect the tutor and the student through your online platform or can use several other tools available for free of cost.
Later, once you think you should expand, you can start investing. By that time you will understand whether you can pursue.
Variety of focus areas
No need to limit to a specific subject. You can identify tutors who has different specializations and can add all those subjects to your portfolio. Be it from Maths to science or biotechnology.
Word of mouth can expand your business
This is one such business which can be expanded easily through word of mouth. If you provide a good quality service to your customers you can easily increase your customers. All you need to take care is hiring the right tutor who can guide the students and really loves their job.
You can start helping people around your community who are in need of mentors. This will increase your goodwill and provide the opportunity to meet like-minded people and know what’s happening around your world.
Conclusion: Every business has its own good and bad. However, you need to identify what would be worst case scenario if you fail and best case scenario if you succeed. Tutoring is one such business which has the scope of causing less loss in case of failure and gives you a higher return on investment if you are able to make it.