(Summary:Are you thinking about entering the tutorial business? Here are the things you should follow to walk the path of success in your business)
Tutors are always available for jobs.
There are many factors that drive students to seek extra academic assistance: competitiveness from peers, challenging subjects and parental pressure to achieve good grades. In other words, today’s students feel that tuilions are necessary for them to stay competitive in their academic journey. It is no wonder that Asia has the multi-million-dollar tuition industry.
If you are an educator with a business spirit, you can utilize this great opportunity of the current booming tuition industry by providing tuition services.
However, keep in mind that by just setting up your tuition centre won’t guarantee you success; its only the first step that requires lots of hard work to get reach, to being with. It certainly would not be easy to earn a sizeable revenue and recognition amidst the hundreds of tuition centres within your neighborhood.
Therefore, just like any business, starting a tuition centre requires planning on things like logistics, implementation methods, administrative matters etc. Plenty of research is required and one must devise a good business model in order to have clarity as to how everything will eventually turn out.
So let’s break this down and get on to the specifics…
DETERMINE IF YOU ARE FIT FOR TUTORING BUSINESS:
First of all, decide whether or not tutoring business is the right path for you. Be brutally honest in assessing your abilities, but at the same time, do not end up underestimating yourself. It’s not just your tutoring skills that count, but the success of this requires your will power and ability to operate a company, which may include managing other tutors, marketing, advertising and dealing with clients or complaints. No matter how good a tutor you are, you have to be familiar with the business and have conviction everything that you ought to do in the arena.
GET FAMILIAR WITH YOUR VICINITY:
Are you aware of the dynamics of your area you reside in? You have to ask yourself important questions that will lay the right path for you.
- How many schools or colleges are present in your area?
- How many competitive tuition centres are present and what are their tutoring requirements?
- Is the location accessible?
- What are the subjects that are in most demand by students?
- What is the age group of children and youngsters living in that area?
Based on this data, you can make an informed decision.
PINPOINT YOUR NICHE:
Tutoring is a very diverse business, requiring you to determine the aspect you specialize in. Assess and understand what you are best at.
- Which subject will you focus on? Consider teaching the most demanded subjects like math or English to get more revenue at an initial stage. Tutoring a subject like French may not be the best decision at your initial stages of the business.
- Will you cater mostly to elementary students, high school students, special needs students or older adults?
- Will you provide test-preparation services?
CREATE A BUDGET:
How much money would you require to cover your expenses and business costs? Make sure you have a clear idea of the logistics and make sure you have enough money to cover up at least three to six months of expenses.
If you are working as a private tutor, (one who provides tutoring service at a student’s home) you would most likely want to cover the expenses of commuting. If you are opening a tuition centre, your revenue should cover up the cost of equipment, furniture, study material, advertisement, tutor’s salary and the location’s rent as well.
PICK THE PERFECT NAME FOR YOUR TUITION CENTRE:
Picking the right name for your tuition centre is extremely important, though it may seem incorporeal. Look out for existing tuition centre’s names. Utilize Google to maybe figure out a unique and catchy name that hasn’t been used thus far. You can also ask people for their opinion and think about them. Make sure the name you choose should be related to your niche, and it should be easy to pronounce so that it will be easily known even through word-of-mouth.
SET COMPETITIVE PRICING:
The price is determined by the subject, experience and reputation of the centre. With this information, you can determine your own pricing. Setting the price too low may indicate that you are inexperienced, and this will affect your profits adversely. However, pricing too high would not attract clients. So, you have to set your prices carefully. Establish yourself before raising your fees.
Check out the rates local tuition centres charge. Take a look at the centres that have similar charges as of yours and their hourly rates as well. It will help you set the right pricing.
MARKETING:
Besides printing ads and fliers and brochures, use social media channels like Facebook and Instagram to promote your business. It is even better if you build a website for your tuition centre. You can get more business tying your tuition centre with other online tuition agencies. However, the quality of your tuition centre plays important role in attracting clients.
Bottom Line:
With the help of these steps, you can lead your tuition centre to success. Hire experienced tutors as your tutor center scales up; make sure there are lots of tutors (the numbers are important) in your centre. Do your best to provide a high quality of tutoring service to everyone.
Best of luck!
Author Bio:
David Lim is a Private Tutor at ChampionTutor– Home Tuition Agency Singapore and father of cute little twins. Being completely in tuition and tuition centres, he’s keen to share his thoughts.
