Education, Online Businesses

How To Set Up An Online Education Business – Online Learning

Convenient Online Education

Online education is not a novelty. It has been around since the introduction of the internet. However, online teaching has become much more refined over the past decade, and with better technology, one can deliver education globally without trouble. While online education delivery is not that difficult and requires little financing, the business is intensely competitive. Besides big franchises, thousands of individual teachers offer online education in practically every subject imaginable. Fortunately, many of these teachers are not the best communicators, so there is still room for great teachers in the business. Here are some practical tips on opening an online education business.

Is There A Demand For Online Certificate Programs?

The only way to know if there is a demand for your course online is to do a google search. For example, hundreds of people teach math, physics, chemistry, biology, and so on, but only a few teach psychology, anatomy, or pharmacology. So pick something not already saturated with online tutors.

Teaching Credentials

If you want to teach online, it is essential to have some teaching credentials. People are unlikely to pay just anyone to teach them online. It is preferable if you have a diploma degree or some teaching certificate. Besides, you should also have a certificate in the subject area you plan to teach. Parents will always ask if you have a degree and are more likely to enroll their children if you’ve completed a college degree.

Here are a few handy links to get you started

Online Degrees – Start Small

If you have never performed online teaching, We highly recommend starting small. Do not go crazy renting a big studio and buying all kinds of video equipment, assuming that the business will instantly work. We recommend starting small from home, and as the number of students increases, you can go bigger. The competition is intense. Thousands of free educational videos exist already on almost every topic under the sun. But if you can teach in front of students and have a good grasp of a few subjects, then you have the potential to make money.

Online Ed – Be Prepared And Practice Your Work

Before you go live with your course:

Practice your lessons in front of your family and friends.
Ensure the clarity, tone, and speed of voice delivery are perfect.
Use proper terminology and be professional.
Avoid the use of any cuss words and address everyone respectfully. Your classes should be fun, creative, and above all else, enhance your student’s experience.

Your Online Business Model

Your business model will reveal your pricing structure.

Monthly membership; this is ideal if you have a collection of lectures taught over four weeks. It is also cheaper for the student.
Paying for individual classes may be ideal for your students who want to determine your courses’ quality. Or you may have just one class to teach.

There are three business models in the e-learning world: the evening school model, the “Academy” model, and the “one-shot” model.

Select Your Niche

You can teach many subjects online, but it is best to focus on your skillset. Not only will you need to be an expert in a particular topic, but you should know how to teach your skills to others. Pick a subject you feel comfortable with, whether math, physics, biology, art, etc. If you are good at teaching several subjects, surf the internet to see what material has not been covered or lacks depth. You can also submit a questionnaire to students and ask them what topics they would like to learn.

The Evening School Model

Today, many online schools around the world use this classic model. The student pays a fee to access the courses and follows an established program from start to finish, punctuated by tests.

This template is ideal if you have created a broad training program. It is also suitable if you would like to recruit several instructors to assist you with your business.

The “Academy” Model

You give clients access to your “academy,” where they find all the information they need to be successful for a monthly fee. Best of all, your content is constantly updating and evolving.

This model is recommended if you intend to launch your e-learning platform independently without extra instructors.

To start an “Academy,” you must spend much time developing helpful content. If there is poor content, customers may be disappointed and will not renew their subscriptions.

The “One-shot” Model

The last model is to sell your training individually. Apprentices can choose to purchase one or more courses depending on their benefits.

This business model is perfect if creating training is a hobby or a complementary activity. You have no pressure on the pace you develop your courses.

These three models have both advantages and disadvantages. Find the right one for you and build your success around it!

What Age Group Will You Target?

When you teach online, you’ll want to define your age group. Most people who teach a younger audience appear to have the most success. Children, teenagers, and college students usually are more likely to sign up than individuals who have already completed college. For example, you may want to teach the basic sciences to grade 6 students, or you may want to teach physics to high school students. On the other hand, older individuals are more likely to be more compliant and complete the entire semester.

Know Your Online Learning Competition

One way to get to know your competition and what they offer is to sign up for one of their courses. You can then improve on anything that you deem weak, inferior, harmful, or lacking depth. At the same time, study the compelling features of the courses. Do this from several of your competitors, and you will develop a top-notch product.

Create An Online Ed Business Plan

Once you have picked your subject and target audience, you’ll need to make a business plan. This plan will help you develop more insight into the business aspects of teaching online. The business plan should contain the following:

Will you be teaching from home?
What equipment will you need?
How will you market your business?
What are the startup costs for an online education business?
Who is your competition?
Do you need a license or permit to teach online?
What will you charge for your online courses?

Try out these links for your business plan

There are some handy services available online

What Is The Cost Of Starting An Online Education Business?

If you are working from home, the costs are minimal and should include the following:

Hi-speed internet
Good PC
Webcam
Educational software programs
Business registration
Marketing

For under $3,000, you should be able to open an online educational program.

Do I Need A License To Operate An Online Education Business?

You do not need a license, but you need to register the business
Also, you need to register for state and federal taxes

Check out these few companies that can assist you in getting your LLC started

Here are a few government links you might want to visit

IRS Website

This site by the IRS is a must-see when beginning your LLC

How Much Should I Charge For My Online Classes?

All sorts of prices are listed online for online classes ranging from $30 per hour to $99 an hour. The competition is so intense that you will quickly run out of students if you charge more than $20 an hour. The reason is that many startups initially offer free classes and gradually increase the rates. You can charge $30 an hour for a private lesson, but for an entire course that lasts a month, perhaps $100-$150 for the month. Do not forget you will have at least a dozen or more students enrolling for your classes, so even though you may have low prices, you will make up the income with the number of students. Because the internet contains vast free information, it is hard to attract students by charging high prices. Even with a low-price model, you can make a decent living. Internet data reveals that some online teachers make anywhere from $3,000 to $5,000 a month.

How Can I Increase My Online Education Business?

Offer Unique promotions or discounts for people who enroll in many classes
Create an ebook of the syllabus and sell it online
Partner with other solo entrepreneurs who offer different courses
Offer individualized tutoring
Help prepare students for exams by providing specific quizzes and exam tutorials.
Create eLearning videos
Create course bundles

Marketing My Online School

To market your online education will require the following:

Create a comprehensive website detailing the subject you will teach, times, duration, and cost. Also, state to whom the course is directed, your contact information, and your credentials.
Make sure your website has pleasing aesthetics and is easy to navigate. Anytime someone registers for your course, send an automated Thank you.
Create a youtube channel where you showcase your teaching ability
Participate in education forums
Place ads on social media platforms like Facebook and Instagram
Distribute flyers in the community
Place ads on school boards

Here are some handy links

Market Analysis

Some free tools that you can use for FREE market analysis include

The SBA has an interesting article on marketing your new business here

Build Your Learning Brand

To help build your brand, do not stick to the same routine presentation. Use multiple templates, enhance the aesthetics, and have a logo on all your slides. You are not only teaching but also creating a business at the same time.

Trademark Your School

LegalZoom has a free name search page here

Shopify has a Business Name Generator here

There are a few companies that specialize in Trademark Registration

The United States Trademark And Patent Office

The US government trademark website USPTO is a must-see here

Apply for your trademark with the USPTO here

The Small Business Administration has a very useful site for your trademark questions here.

Advertise Your Courses And Keep Promoting Them

Because of intense competition in online teaching and the development of new startups, you will need to promote your business constantly. You will have to use social media as one of your marketing tools and consistently place ads on these platforms. Finally, your students will be your advertisements if your teaching is excellent.

Online Learning Campaigns

Participate on several online platforms to spread the word about your new courses. Organize quizzes and offer a free one-time class to the individual with the highest score. Slowly you will reinforce your identity.

Automatic Notification

While you may be busy teaching and preparing the coursework, it is essential to have an automatic notification system for all registered students. The student is regularly interested in upcoming courses, quizzes, discounts, etc. Besides, when students register, the system will send out a registration and enrollment email. Your LMS should have an integrated notification system. Finally, most LMS has a support system that assists students with difficulty signing up, accessing content, or paying.

Branded Certificates

Offering certificates at the end of the class is another method to monetize your services. Offering certificates will also increase enrollment.

What Equipment Do I Need To Start An Online Education Business?

A computer for teaching (e.g., HP, Dell, Acer Swift, Acer, Asus, Google pixelbook)
Reliable and fast internet connection
Teaching programs (e.g., Dyknow, McGraw Hill Connect, Powerschool, Go guardian Teacher)
Free Software for online teaching (e.g., google classroom, Talent LMS, Schoology, Thinkific, etc.)
Headset (Eg, Bose sound, Apple AirPods, Sony, JBL, etc.)
Microphone (Corsair, Sony, Logitech, Marshall, Mpow)
Detachable webcam (e.g., Logitech, Microsoft LifeCam, Genius Widecam)
Videochat Software (Eg, Skype, Facebook messenger, Apple Facetime, Google Duo, Slack, Whatsapp, Zom, Viber, Microsoft teams, LINE)
Mouse
Keyboard
Hard drive
A blackboard
Marking pen
A digital camera with high resolution (e.g., Microsoft LifeCam, Canon, Sony, GoPro, Logitech, Jaronx)
Pointer
Good source of light
POS (e.g., Shopify, Square, Vend, Toast, Erply, etc.)
Antivirus programs (e.g., ESET, Malwarebytes, Norton, Kaspersky, etc.)

Here are some links to help you find your equipment

Build Your Own Online Ed Website

Your restaurant domain name protects your website address on the internet. You can register a domain name with any hosting company you choose.

Some of the common domain registrars include:

Here is a list of some options for building a regular website.

Here is a list of drag-and-drop page builders for WordPress.

Choose A Learning Management System

Over a dozen Learning Management Systems (LMS) help you deliver educational content. A good LMS will store all your documents, have audio and video libraries, maintain and track your schedule, course, number of students, and exam results, and track everything that involves teaching. Plus, these systems can be accessed from any geographical location and help save time and eliminate human error. Some of the LMS systems that you may want to consider include:

Adobe Captivate Prime
Docebo
SAP litmos
TalentLMS
Inquisiq
LearnUpon
Learningpool

Conclusion

Starting an online educational business is promising for those who can teach. However, one also has to have good business sense. Comprehensive software programs make it very easy to conduct classes for large groups of people, and some are free. The amount of money one makes strictly depends on the number of courses offered and students enrolled. It is a great way to make a living, but the key is to have the ability to teach.