With the emergence of globalization, people from diverse linguistic backgrounds need to communicate on a daily basis for global networking, employment, educational opportunities, and more. English, being the most widely spoken language in the world with around 1.5 billion speakers, fills that void effectively. Considering the need of learning the English language, numerous learners are actively looking for reliable online English teaching platforms to fulfill their language learning needs.
The demand for English language education is at an all-time high, creating an array of lucrative opportunities for aspiring entrepreneurs in the eLearning industry. If you are an entrepreneur aspiring to build a successful online English teaching business, this blog is tailored specifically for you. Here, we share a comprehensive step-by-step guide to help you start your own English teaching business successfully.
Table of Contents:
Step-by-Step Guide To Start Your Own Online English Teaching Business
Starting a business venture could be a challenging and time-consuming task, however, with proper information and guidance, this can be done easily. Follow these steps to kick-start a successful online teaching business.
Step – 1 Make a Business Plan
Your business plan would be the foundation of your business. A clear business plan can help you map out specifics for your business and discover some unknowns. To make an effective business plan:
- Define your goals
- Understand your target demographics
- Determine pain points that you can serve
- Gain knowledge about various niches within your industry. For example, some of the niches within English teaching include.
- English language exams such as IELTS, TOEFL, PTE, and more
- Business English
- ESL teaching
- Grammar/Pronunciation
- Spoken English
- Teaching English to young children
After considering all the points mentioned above, compile a business plan that can guide you throughout your entrepreneurial journey.
Step – 2 Do Competitors Analysis & Research
After making a solid business plan, the next step is to do market research about your industry by exploring government data, surveys, research papers, etc. Also, analyze your competitors thoroughly, learn about their strengths and weaknesses, and implement those learnings into your business.
Competitor analysis also gives you insights into where your competitors are falling short, which helps you in identifying areas of opportunity in the industry. It also provides you with a benchmark against which you can measure your success and growth.
Step – 3 Gain Information About Legal Formalities
The next step is to know about the legal formalities of starting an online English teaching business in your region. Gain knowledge about data privacy rules, tax regulations, and local business licensing requirements for your country. Also, consider a trademark or entity name for your business and register with different departments and agencies of your region.
Establish the legal identity of your business by registering it. Choose a legal business structure based on your business goals, future planning, initial funds, etc.
Common business structure types that you can consider:
- Limited liability company (LLC)
- Corporation
- Sole proprietorship
- Partnership
Transform Your Business Plan Into a Successful Venture
Step – 4 Decide The Type Of Classes
Further, decide the type of classes that you want to offer to your target audience. This will help you efficiently cater to the different learning needs of learners. Following are popular categories of classes.
One-to-One Classes
This would cater to learners who want personalized individual learning. In this format, the tutor and the student interact one-to-one through video conferencing tools. More fees can be charged for this type of class as it requires special individual attention.
Group Classes
Group classes involve teaching multiple students together. It is ideal for students who want a collaborative learning experience. This format encourages interaction and collaboration among students as well as with teachers.
Class Packages
A class package refers to a collection of multiple group classes offered together as a single unit. It allows learners to enroll in multiple classes simultaneously without the need to opt for separate registration for each class. By offering bundled classes you can potentially increase your revenue by encouraging learners to buy multiple classes together.
Pre-Recorded Courses
Tutors upload courses on the platform and learners can avail of them anytime, anywhere as per their availability. These courses are self-paced, allowing students to learn at their own pace and convenience. Courses can cater to students who want structured and independent learning experiences.
Offering all these classes on a single platform can help you in catering to different student preferences & needs and expanding your revenue generation opportunities.
Step – 5 Determine a Monetization Strategy
After gaining information about the types of classes you can offer on your platform, the next crucial step is to determine a monetization strategy for sustainable revenue growth in the future. Some of the popular revenue streams include:
Commission
Business owner charge commissions from tutors for connecting them with learners worldwide.
Subscription
A monthly or yearly subscription fee can be charged to learners for availing of the teaching services, learning material, and others on the platform.
Course Fee
Ready-made courses prepared by tutors can be sold on the platform for a fixed fee.
Certifications
Learners can pay a fee for certifications after completion of their courses.
Advertisements
Business owners can charge fees from other businesses that want to advertise their services or products to the target audience on your platform.
Launch A Platform With Lucrative Monetization Strategy
Step – 6 Know Important Considerations
After knowing about the monetization strategy, the next crucial step is to know about the essential considerations that you must take into account before building your platform. These considerations can impact the success of your business, furthermore, let’s explore them in detail.
1. Branding
Your platform should be a direct reflection of your business idea and brand. Visitors on your platform should immediately establish a visual connection with your logo, theme, and other design elements. Add logo, colors, theme, and more that are unique, engaging, and best depict your business idea.
2. Visual Design- UI/UX
Create a user-friendly platform that is intuitive and provides a good user experience. It should be easy to navigate and users should seamlessly locate important information on the platform. User registrations and login should also be an easy process.
3. Features
Offer advanced features to users on your platform for optimum success. Some of the most important features include.
- User management
- Profile management
- Course management
- SEO management
- Multi-lingual capabilities
- Multi payment options
- Analytics and reports
- Ratings & reviews
- Commision Management
- Advanced video conferencing tools
- Audio & text chat
- Screen sharing & recording
- Virtual whiteboard & text pad
- Calendar availability
- Discussion forum
4. Cost
Building an English teaching platform requires financial investment. Consider the cost associated with developing a platform, including the cost of infrastructure set-up, hosting, maintenance, and more. However, one cost-effective option to develop your platform is to consider a ready-made software solution.
This solution is pre-built and comes with a range of features tailored to your business requirements. This is more cost-effective and hassle-free as compared to custom development.
5. Turnaround Time
Time is a critical factor when building an online platform, especially in this highly competitive industry. To stay ahead in the market, it is always advised to launch your platform as quickly as possible. In this regard, ready-made software again could be an ideal option.
It would require less time and effort to launch your platform, allowing you to fast-track your entry into the market. Unlike custom development, which may take a few months or even years to complete the development.
Build A Platform As Per Your Requirements With Our Software
Step – 7 Choose a Reliable Software
If you want to quickly and cost-effectively launch your online English teaching platform in the industry, opting for a ready-made solution would be an ideal choice for you. Choose a robust tutoring software that can fulfill your requirements and support your business in the long run.
One such popular online tutoring software is Yo!Coach. Yo!Coach comes packed with several advanced features including the ones mentioned before and is fully customizable & scalable to meet all your business needs. Some of the features offered by Yo!Coach is:
- Intuitive user interface
- Multi-lingual capabilities
- Multi payment options
- Reports and Analytics
- Push notifications
Explore more features of Yo!Coach.
Yo!Coach is designed specifically to efficiently cater to the needs of all users on an English teaching platform and has served numerous clients worldwide. It offers one year of free technical support and is 100% white-label.
Step – 8 Market Your Platform
Just like any other business, your English teaching business also needs a robust marketing strategy. Reach out to potential prospects by leveraging the power of various digital marketing channels to promote your platform. Utilize social media advertising, SEO, content marketing, and more to maximize your visibility.
Offering free trails lessons and providing valuable content to your audience through blogs, and video tutorials can establish your platform as a reliable resource for learning English. Moreover, you can offer discounts, loyalty programs, gift cards, and coupon codes to attract new learners to your platform.
Closing Remark
Language learning industry is growing in popularity and presents a valuable business opportunity for aspiring entrepreneurs. However, building your own English teaching business would require careful planning and execution. By following the steps outlined in this step-by-step guide, business owners can build a thriving business venture and enter this lucrative industry effectively.
