According to experts, the value of the global eLearning market will rise to $406 billion by 2024.

Digitalization has gifted us freedom in many ways and surprisingly, it has made education very convenient. You no longer have to sit with dozens of other students in a room for hours to learn something. You don’t need to follow a strict schedule to attend your classes. Online Tutoring has made it possible for you to learn through your computer, tablet, or mobile phone, and you can do it anytime, anywhere!

Wyzant is one of the most popular online tutoring platforms. Let’s take a look at all the aspects of Wyzant and understand how an online tutoring platform works.

What is Wyzant? How does it work?

Wyzant is an online services marketplace in e-learning technology for digitally connecting tutors with students. It is an online community of tutors and students where both the stakeholders are not bound to a strict schedule. However, they also provide the option of in-person tutoring.

Wyzant has a 4 step process of connecting students with the right tutor. Let’s take a look at these steps:

Step 1: Answer A Few Questions

The platform needs to understand the requirements of the students first. They need to know a few things about the students like what they want to learn, when they are available, etc. The answers by students help them find the perfect match.

Step 2: Pick Your Instructor

The students can take a look at all the experts who can help in their area. Using the ‘Search For Tutor’ option, the students can check the credentials of the tutor, read what other students are saying about them, and see if they’ve had a background check or request one.

Step 3: Chat With Your Instructor

When the students find an instructor they would like to work with, they can send them a message right from the website or through the app. They can discuss the mode of class (online or in-person) and ask their queries with each other.

Step 4: Book Your Lesson

This is the last step as here the student can simply book their first lesson. Also, the payment is done only when the student has taken the lesson. The payments are hassle-free as Wyzant securely processes everything.

Opportunities for EduPreneurs in Online Tutoring Market

The eLearning industry has grown by 900% in the last 19 years.

The Online Tutoring Market already had a lot of scope for penetration but the COVID-19 has created many more opportunities. Let’s discuss a few of them:

1. The Current State of Schooling: Schools are closed all around the world. It is the best time to grab this opportunity and make a wise investment by starting an online tutoring business.

When choosing between online and on-ground learning, 60% of students opt for online learning.

Suggested Read: The Ultimate Guide to Starting Your eLearning Business

2. Rising College Tuition Fee: According to the Manhattan Institute for Policy Research, the cost of higher education in the US has increased by nearly 200 per cent. During the pandemic, the only alternative to attending traditional classroom-based learning at colleges and universities is e-learning. Additionally, the cost of earning an online degree is less than receiving a full-time degree, and surprisingly, the value-add remains the same for both.

81% of students say online learning has helped them improve their grades.

3. Employee Reskilling & Upskilling: As most of the companies across the globe are working remotely due to the COVID-19 pandemic, employers are seizing this opportunity to push reskilling among their employees by leveraging e-learning. Competency-based learning is being preferred by major companies like Delta Dental, FedEx, Blizzard, and more for a variety of reasons. For an employer, the benefits include improved work quality, lower operating costs, and more.

IBM has saved approximately $200 million since switching to eLearning.

Related:Covid-19 Pandemic — Opportunities in Online Learning for EduPreneurs

Essential Features of an Online Tutoring Platform

  • Multiple Payment Gateways: Your online tutoring platform must have multiple payment gateways. It makes the transaction easy as there will be multiple options to choose from for all — admin, students & tutors.
  • Advanced Dashboard: An advanced feature-rich dashboard makes it easy for the admin and other sets of users to navigate to the right section without any complexity.
  • Engaging UI/UX: User experience plays an important role in the success of any online platform. So, providing users with an exceptional experience through engaging UX/UI would increase the chances of the success of your online tutoring platform.
  • Multi-Currency Support: Multi-currency feature is very important if you want to target the users globally. This feature allows users to select currency according to their region and the prices for course/lessons will be displayed to them as per their currency selection.
  • Video Chat Option: 1-to-1 video chat option is the most important feature for an online tutoring platform. This helps the users connect with each other virtually. Whiteboard and text pad are additional tools that complement the Video Chat feature.
  • In Chat Translations: Chat translation feature allows learners to type in their native language whenever they get stuck during the conversation.
  • Schedule Lessons/Classes: It is an essential feature as it will help the tutors as well as the students to schedule the classes as per their convenience.

Best Software Solution For Online Tutoring Platform

If an entrepreneur wants to start an online tutoring platform like Wyzant, coding it from scratch will take a lot of time. More time invested by the developers will further cost you a lot of financial investment. So, the best way to build an online tutoring platform is to use a ready-made solution.

Here I am sharing a list of top 4 online tutoring platform:

  1. Yo!Coach
  2. WizIQ
  3. TutorCruncher
  4. myTutoring

In my opinion, Yo!Coach by FATbit Technologies is the best software solution for launching an online tutoring platform. It has all the necessary feature modules to create a successful online tutoring website. Yo!Coach can satisfy all your business requirements in terms of technology & advancement. Yo!Coach is fully customizable, so you can add additional features for making your product stand out.

Content Source: https://www.fatbit.com/fab/opportunities-in-online-learning-business/ & https://kommandotech.com/statistics/elearning-statistics/

Originally Published at: https://medium.com/@akankshachandan/how-to-start-an-online-tutoring-platform-like-wyzant-d4becd21ef87