According to reports, the global eLearning market is expected to reach $840.11 billion by 2030. We can say that the sun is shining bright for online tutoring businesses. If you are interested in developing an online tutoring platform for your business, further, in the next section we discuss steps for hassle-free development. 

Steps To Start An Online Tutoring Business

The online tutoring industry is growing exponentially and before starting your online tutoring business it becomes very important to understand your market niche. You need to identify your area of interest depending on your business goal. By defining that niche you can get a clear vision of your target audience. Below listed are some of the popular niches: 

1. Identifying Your Online Tutoring Market Niche

  • Young learners who cannot attend school 
  • Learners with proven difficulty in STEM (Science, Technology, Engineering, and Mathematics)
  • Learners who wish to improve their grades 
  • Individuals with dyslexia 
  • Individuals who need to prepare for exams, job interviews, and special tests 

2. Conducting Market Analysis and Competitor Research

It is very essential to conduct market research and thoroughly understand competitors, market leaders, their USPs, customer segments, etc. By analyzing the market, you can choose your area of focus. You can also examine other factors that define your market and can know more about your target audience by focusing on demographics like their age, gender, income level, etc. 

3. Completing Legal Formalities to Run an Online Tutoring Marketplace

No license is required for establishing an online tutoring marketplace, however, it is recommended to complete all legal requirements associated with such a marketplace. This includes:

  • Registering your business
  • Defining a business structure
  • Getting insurance
  • Opening a business account

4. Creating the Marketplace

Entrepreneurs can opt either for a readymade software solution or choose to develop it from scratch. The custom built platform provides the flexibility of customization and scalability, however, the developmental process takes more time, cost, and effort. On the other hand, choosing a ready-made online tutoring software solution like Yo!Coach provides almost the same customizability and functionality costing you less money and time. 

Plus, it is highly secure and GDPR compliant. 

5. Marketing Your Business

Building an online tutoring marketplace is not enough, you need to spread the word about your platform to your target audience. Listed below are a few marketing tactics that can be used to spread awareness about your brand among learners and tutors. 

  • The platform should be SEO friendly
  • Social media should be used for promotions 
  • Educational marketing videos should be created 
  • The platform should be mobile-friendly 
  • Testimonials should be published on the website 
  • Digital media advertising should be done

This is just an overview of the essential steps for starting an online tutoring business, however, there is so much more which needs to be known regarding the same. For in-depth information, read here.