There has never been a better time to grow your tutoring business.
The private tutoring market was valued at $92.59 billion in 2020 and is expected to reach $171.93 billion by 2028.*
Greater competition amongst students has meant more are turning towards private tuition in an attempt to outperform others and reach their potential.
The demand is there, so if you’re looking to grow, the time is now.
But how do you know if you’re ready to scale up?
4 signs it’s time to grow your tutoring business
Deciding to grow can be risky. You may simply be in a position where you’re wanting to invest in your tutoring business. Alternatively, you could be experiencing any one of the situations below telling you it’s time to expand your business.
- Your class keeps growing — more and more students are in need of extra teaching.
- You’re turning away students — you don’t have time to meet the high demand.
- You have extra money to spend — you’re looking to invest these funds. Perhaps you’re wanting to use better education technology.
- Your business has sustained constant profits — you’ve had years of successive profit and are looking to set up some simpler teaching solutions
Even if you haven’t experienced any of these it doesn’t mean you can’t scale up. You may simply be wanting to increase your profits, and that’s OK. We’re going to show you just what you can do to achieve this.
6 ways to grow your tutoring business…
1. Get into online tutoring
You may be doing face-to-face tutoring in your local area.
There are many benefits to this, but if you’re really looking to get things moving you should consider online tutoring.
Since the pandemic, people’s expectations have been set to move to a digital world for many things in their life.
This not only meets customers’ expectations but increases your pool of potential students. You could tutor anyone from anywhere, regardless of location.
It also saves you time as you can factor out travel. With more time you can teach more students and get your tutoring business growing faster while increasing teaching resources
2. Simplify your students’ booking process
Figuring out how much time you have each day to teach can be an annoying task.
People often fall back on using pen and paper or writing a random notes file on their phones which they inevitably can’t find when they need it most.
You can make this much easier on yourself by using an online scheduling tool. This allows students to book directly via a calendar.
This is not only handy for yourself, but it makes for a much better experience for your students too. It’s also great if you have any overseas students so you don’t have to try and figure out the time difference.
With a simplified booking process, you’re saving time, cutting costs, and optimising your business for scaling up.
3. Divide your lessons into similar groups of students
Grouping your students is an excellent way to teach collaboratively while scaling up and maximising your income.
Many students are at a similar level with similar goals — this makes the perfect opportunity to group them together. You can do this by categorising them into various subject sets based on their performance.
It’s best to offer group classes for students at a reduced rate of what you would charge 1:1. But as long as your price is right, you can still maximise your income while providing the same quality of teaching.
You can also use this strategy to get your students working together. This is an excellent way to increase their learning through collaboration. You’d be surprised at how much students learn from each other.
4. Create an offline video series
Do you find yourself teaching the same topics again and again?
Creating an offline video series could be an excellent opportunity to expand your range of services. The great part is, you can set the cost based on demand, and this may well increase over time.
By doing this you’re also creating a second stream of revenue. Meaning you will quite literally be earning extra well-deserved money in your sleep! You’re being smarter by not limiting yourself to just live teaching.
And after purchasing your lessons, students may want to expand on some of the topics with your bespoke 1–1 tutoring.
This is a smart move to scale up with low maintenance.
5. Become a thought leader in your industry
A thought leader is someone who shares their opinion and ideas in their field of expertise, online.
Why would you do this?
It creates publicity and PR opportunities to get your name out there. By doing so, you’ll build your reputation, online presence and increase leads through word of mouth. Meaning faster growth of your business.
Thought leadership also builds trust and credibility. Meaning someone is more likely to choose you over a competitor.
The best place to become a thought leader is on a social platform where your targeted audience “hang out”. Create some content and get it out there. Just make sure it’s relevant and engaging to your users.
6. Expand your teaching team — hire an employee
This can feel overwhelming if you’ve been a one-man band for a while.
However, if you’ve got a large number of students who you feel confident you can help, then it could be something to consider.
You of course want to make sure that you’ll be able to pay for the employee while also making a profit yourself.
There are many things to consider before hiring, along with many different options. For example, you might try hiring a freelancer to test the waters first before committing to a permanent member of staff. If you feel confident it will help you grow, then give it a go.
With Classimize, you can give access to temporary teachers, who have permissions to teach the lessons you curate, without editing them. This is once again a great option if you want to hire someone for a short period of time, or perhaps while you’re away on holiday.
Ready to maximise profits for your tutoring business?
Your tutoring business is growing. You need to make sure you can facilitate these lessons with the best tools available.
Simplify your tutoring business through Classimize’s intuitive and easy-to-use learning platform that allows you to plan, create and schedule lessons with students while running live, interactive virtual lessons with your class. With complete control, start your free trial now and let’s get your business making some serious money.
Sources:
* https://finance.yahoo.com/news/private-tutoring-market-grow-usd-071700618.html
