7 Innovative Education Business Ideas You Should Launch In 2020
Do you enjoy teaching others? Are you interested in starting a business in the education sector? With the top 7 education business ideas shared below, you could make this a full-time career and be your own boss.
Education is a part and parcel of our being. Nowadays, with a constant emphasis on the need for students and adults to improve their education, a need for innovative ideas for education system has also surfaced. This demand for education and training creates massive opportunities in the education industry and an interested entrepreneur can encash on the opportunities to earn big profits. Also, a sudden spike in queries around business ideas for students can be seen as well.
So if you think you are creative and highly imaginative, you can take the following education business ideas as inspiration to develop your business concept that can be marketable in the industry of education.
Here are 7 online and offline education business ideas to pursue:
1) Tutor Finder
For a high school student or a university pursuant, individual sessions are always beneficial. Hence, students are constantly looking out for a tutor. The problem is how do they find an expert tutor. They can either ask fellow students, neighbours or relatives.
A web-based or mobile app that makes it simpler for students to find private tutors in their local area is a great idea. You need to onboard local tutors, get them to create a profile with all the information about their professional background and rates, and then promote them.
When they get business through your platform, you keep a percentage as commission. Students can search for specific subject tutors and leave reviews for the tutors they have interacted with. This way you can help students connect with the best tutors.
Some examples of tutor finding services in India are Superprof, LearnPick, TeacherOn, TutorCity, and more.
2) Online Tutoring
The pressure on students has grown exponentially in the last few years. There is stiff competition and students need to perform well. Apart from the regular classes at school, they need tutoring lessons to help them understand concepts and grow.
However, for a lot of students, travelling to the tutor’s coaching centre or scheduling a time for the tutor to visit at home becomes challenging.
If you are fond of teaching and have the required experience and knowledge for a particular subject, you can start providing online tutoring sessions. You can take classes via video calls, share lesson plans, and also conduct online tests. You can fix a monthly rate or a per hour rate depending on the requirements of the student.
Some examples of online tutoring platforms in India are Vedantu, Chegg Tutors, Byju’s, Doubtnut, etc.
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3) Online Hobby Classes
Many people want to learn a new skill or activity. This could be anything from cooking, dancing, singing, to martial arts or carpentry. However, with the hectic schedules at work or home, most individuals struggle to find the time to visit the skill development centre for such classes.
An online hobby class allows students to learn on-the-go, at their convenience. They can download the videos and learn from within the comfort zone of their home.
As a teacher, you can teach students a new skill without spending on infrastructure and other fixed costs. To set up, all you need is a computer, a camera/smartphone to record your videos, and an internet connection to upload all the required material.
Some of the known platforms offering online hobby classes include Udemy, SuperProf, LearnPick, and ipassio.
4) Educational Toys
This is one of the growing education business ideas. Parents are looking for innovative educational toys for children of all ages. They want to use these toys to create an interesting ‘learn as you play’ home school environment.
You can manufacture or source educational toys. These toys are in the form of books, games, machines, electronic gadgets, etc.
They help the child develop motor, sensory, and speech skills. But before you start a business for educational toys, make sure you investigate what the existing players are doing and avoid entrepreneurial failure. Moreover, remember to create customized toys with experts and not sell traditional toys already available at online and offline stores.
Some businesses currently selling educational toys for children are Flintobox, FirstCry, Toy Cart, and Raise Smart Kid.
5) Teacher’s Resources Online
The education system needs constant improvement to remain healthy. Teachers need to keep up with the changing requirements of students and need to update their methodologies regularly. For this, they need support and assistance.
Some teachers have been teaching for decades and find it difficult to adapt to newer technologies. They cannot prepare lesson plans on the computer and don’t know how to prepare additional teaching aids.
A teacher’s resources platform online can provide lesson planning help along with tips and tricks to improve teaching practices. The platform can offer readymade resources and teaching aids for free or a little fee.
It can guide teachers on how to upgrade their teaching methodologies as per today’s technology and education system. Teachers can communicate with one another and other educationists to develop solutions for common student problems.
Teachers Help Teachers is an interesting online community aimed at finding solutions to the problems in education.
6) Online Library
People today hardly have the time to sit down and read a paperback novel. They read everything on their laptop or smartphone or any internet-enabled device. This is because everything is available online at the tap of a few buttons.
The online library is another profitable education business ideas that can help to restore people’s habit of reading. The platform can offer books from different genres and let people learn different subjects from anywhere and at any time.
With the help of the internet, people from various parts of the world can register in the online library. They can also choose to share their collection of books online in PDF format for other readers to enjoy.
Users will need to register and pay an affordable fee to make use of the online library. A well-equipped digital library is something you can look at starting if you want to enter the business of education.
Amazon Kindle and Good Reads are examples of online libraries and book publishing platforms.
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7) Entrepreneurial College
A lot of entrepreneurs did not take entrepreneurial training before launching their business.
This resulted in the closure of many businesses, even before they reached their third year of operations.
According to statistics, the majority of the startup businesses that survived are owned and operated by individuals who have undertaken some form of formal or informal business training.
If you want to enter the education industry with one of the most thriving and profitable education business ideas, you can start an entrepreneurial college. At an entrepreneurial college, aspiring entrepreneurs enrol to learn the strategies and fundamentals of starting and growing a business. You need to guide entrepreneurs on the common problems faced in the country and how each one needs to be tackled. You need to give them the right information to secure funding, advertise, and lead their business venture.
However, before you start, make sure you have obtained the required license and accreditations from the education department in India.
So, if you think you have a highly profitable and unique education business ideas, it is time for you to start and let the world know about it.
Liked the above piece? Read more:
Q. What are the most innovative business ideas for students?
A. There are a host of options for the young guns around. Students can work in a number of domains including Bloggers, Tutors, Social Media Influencers and many more.
Q. Which startups are working on business ideas in the education sector?
A. The most flourishing startups in education sector these days include Byju’s, Meritnation, Vedantu, Toppr.
Q. Which is the best education business idea in India?
A. There are a number of verticals that you can work at, it depends on the compatibility with your skillset. To state one of them, online learning (app-based) is one of the emerging concepts in the education sector.
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