The tutoring market in both the United States and abroad is growing rapidly — largely due to the failure of standard education systems to cater to the unique needs of students, according to Forbes. This should be good news whether you choose to work as reading, SAT or LSAT tutor. Still, it will take some diligent effort on your part to build your private tutoring business to the point where you’re earning a significant income. But before you run off and join the ranks of private tutors, here are some pros and cons of the business to better help you assess whether private tutoring is for you.
Low Start-Up Costs
Unlike restaurant franchises or Internet businesses, it is relatively inexpensive to start a tutoring business. All you need is a phone, some stationery and basic office equipment, according to A Touch of Business. In most cases, you’ll be traveling to people’s homes to tutor their kids or college students. It may also behoove you to purchase some tutoring software to record and maintain your financial records.
Large Potential Market
Because of the demands placed on students these days, you’ll have a huge market from which to garner clients. Most students also have certain subjects in which they struggle — like math or reading. And if you’re offering services in those subjects, you have potential customers.
Wide Array of Subjects
In most cases, you can teach any number of subjects as a tutor. The only exceptions are if you’re going through a particular school district and they require specific degrees for their tutors. For the most part, however, you can help students with algebra, test preparation and even certain musical instruments like piano.
Ability to Tap Into Local Community
As a tutor, you have the ability to “build upon the relationships you already have in your community,” according to The Balance. People you or your friends and family members know have kids, which means you have the entire local market to tap for potential clients. You can also join professional organizations, participate in community events or talk to church members to expand your contact base, as networking is a great tool for acquiring clients.
Quick Business to Start
Tutoring is one of the faster service businesses to start because you’ll be working from home and have no physical office building or store to set up before you’re open for business. You’ll just start contacting people from home through word of mouth, which is the best way to get clients.
Must Promote Yourself
On the contrary, while you can build a tutoring clientele relatively quickly by word of mouth, you do have to promote yourself as a tutor to earn money. It’s not a job in which you’re getting paid by the hour. You have to both sell your services and do the work to earn a paycheck. Therefore, you need to be diligent in your efforts to constantly get new clients and service them.
Lull During Summers
Tutoring is more cyclical in nature than many service businesses. That’s because people will primarily need your services during the school year. Still, students do go to summer school and others may need to brush up on courses they struggle in during the summer. So, there is a market, though smaller, during the warmer months in which to tap.
In reality, your may face strong competition for tutoring work, especially through the schools, according to The Balance. That’s why it pays to get an early start on marketing your services before school starts and maintaining a current resume that highlights your education and skills. Also, focus on the areas in which you truly excel or have extensive education. Schools want to feel comfortable with the tutors they hire — and know they can meet the demands bestowed upon them.
by: Lee Flynn