Why Online Tutoring Business a Profitable Idea to Invest in 2022 | Trends & Benefits

A new phenomenon has recently emerged. Online tutoring business has taken over the traditional education system, giving rise to several business opportunities for people. Trends such as open content creation, peer-to-peer problem-solving, cloud infrastructure, and smarter audience targeting have enabled countless individuals to experience success in the tutoring business within a short period. 

Though the rapid growth in digitization and internet access helped the tutoring industry to a certain extent, it was the pandemic that took the online tutoring businesses by storm and changed its entire growth trajectory. The COVID-19 outbreak resulted in closing most educational institutions, which created significant interruptions in the learning and training activities. This, in turn, spiked the demand for online tutoring platforms as it facilitated remote learning, 24X7 access, and more personalized experience, thus ensuring that the teachers and students did not miss the traditional classroom system. Due to the increased effectiveness of online tutoring, even governments worldwide are encouraging the public to take up e-learning. This has made the online tutoring market highly competitive, and every country is battling to get its share. 

According to a recent report, Online Tutoring Market – Forecast and Analysis Report 2021-2025, the online tutoring market size is expected to grow by USD 153.07 Billion. This staggering growth can be mainly attributed to high ownership of smartphones and better internet infrastructure. The deployment of 5G technology will further boost the online tutoring sector by offering seamless digital training to its employees and students at faster internet speed.

As an educator, the time is perfect for you to starting a tutoring business where you can offer courses to students from a wide array of subjects. India has the highest rates of online tutoring business adoption out of the all countries.

Recent trends in the tutoring business

Keeping up with the recent trends in the tutoring business can be daunting as new trends are emerging every minute in this dynamic industry. Most of the online tutoring business trends we see today are moving towards more personalized and engaging formats to offer the best learning experience to the users. Here are a few dominating trends in the industry currently.

• Personalized learning

One of the trends in education sector from last year that will continue to grow in 2022 is a more personalized learning experience for students. This method is for an individualized teaching approach that focuses on the individual needs of every student. However, with the technology evolving every day, online teaching offers an even more personalized learning experience. Like focusing on individual student’s interests, strengths, needs, and struggles. 

And tutors can get a great advantage out of this technological advancement in the e-learning industry. From easy implementation of various tools to differentiate their tutoring techniques, including video lessons, augmented reality, virtual reality, interactive games, etc., they can provide it all in their online tutoring platforms. Personalized learning is flexible and an extremely effective approach in modern education.

• Rise of microlearning

With the number of remote workers on the rise due to the pandemic, training had emerged as a big challenge for organizations. Companies started devising new ways to offer optimized and more convenient learning processes to help employees maintain work-life balance. One such model was microlearning. Microlearning involves offering 4-5 micro lessons spanning 5- 7 minutes each to learners. Micro lessons are easier to consume and can be conveniently learned at any time of the day. 

• More emphasis on certification

There is a growing demand for online certifications, and it is one of the critical factors for learners to consider while choosing a course. Most learners prefer to receive a certificate after finishing the course as proof of completion. All the major players in the online tutoring business, including LinkedIn Training, Oxford Home study, or Lynda, provide completion certificates. Even small academies these days have started offering certificates to add more authenticity to their courses. 

• Rise of gamification

A recent study shows that around 80% of workers believe that gamification of the learning processes using levels, points, badges, and leaderboard makes the learning process even more engaging and easier. Another study shows that by using gamification features, 50% of the companies could improve their productivity. Making your online tutoring platform game-based will trigger various human emotions such as curiosity, competitiveness, and a sense of control, making learning a fun experience.

• AR and VR are the future

AR and VR technologies offer infinite possibilities in delivering content in a fully simulated environment that offers a rich experience. Offering creative visual content in interactive ways will increase user retention and productivity. These technologies will attract users who love innovations in their learning process and make your online tutoring platform stand out in the highly competitive and crowded market. Nearly 41% of people think that VR is helpful in the education sector, which is just behind the gaming industry. 

6 Major Benefits of Starting an Online Tutoring Business

Cost, energy efficiency, satisfaction, and better performance are the most apparent benefits of a tutoring business. Here are some other reasons why you should start your own tutoring business.

1. Flexibility:

Solid full-day schedules and strict routines can cause increased stress and a drop in efficiency in both students and teachers. However, online tutoring platforms offer the stakeholders a chance to fix their schedules and encourage self-paced learning to meet their lesson targets. This flexible way of gaining and imparting knowledge allows users to maximize their performance and makes the job easier for everyone. 

This is much better than a traditional classroom set up where both the student and the teacher have to follow a set schedule. Better focus, knowledge retention and an enhanced learning experience can be achieved by studying at convenient time.

2. Tailored Tutoring

The teacher can’t give enough attention to everyone in a typical classroom of 40-50 students. Some students pick up things faster, and some lag behind. And this problem gets addressed effectively in online tutoring, more specifically private, one-to-one tutoring. The tutor can take the time to understand weaker areas of a student as they would be able to interact one on one as well.

3. Saves Commute Time & Cost

Online tutoring platforms can eliminate the travel time for both learners and tutors. This is still an undervalued benefit since most of us have been conditioned to a learning and work culture, where traveling to a public office or institute is very much the norm. In online tutoring set up, all the worries related to travel cost, time, and rush hour traffic don’t exist.

4. Possibility to Harness Additional Technologies:

Millennials of the present generation are hyper-connected through technology. They share, communicate and exchange ideas over the internet. Going online enables tutors to tap into this world of constant learning by embracing technology such as online classrooms, video lectures, chat, and virtual learning to deliver real-world learning. Tutors can even make complex educational theories simpler and fun by harnessing the power of technologies like VR and AR.

5. Practical:

COVID-19 and other global economic instabilities have created a severe financial depression in several countries. Most governments are unable to allocate additional budget to education as people’s health is more important today. Taking education online is the practical way as it uses the existing technologies (such as a webcam) to teach online. 

6. Increased Reach:

For teachers who want to create a bigger impact by reaching a larger number of students, setting up online tutoring business is the way to go. This allows tutors to reach students who are geographically disadvantaged, living in areas with limited access to quality education. Through an online tutoring platform, you can shape the future of many youngsters and create an everlasting impact on their lives.

Conclusion

While the coronavirus outbreak has boosted the demand for online tutoring business, technology has made this possible for education to go digital in the first place. And this is the best time to Start Online Coaching Services For Students and attract them by making  your online tutoring platform feature-rich and knowledge-rich.

To know more about how you can set up your own tutoring business, get in touch with panther. 

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