If you’re looking to make a positive impact on the lives of others while making a profit, starting a tutoring business may be the right entrepreneurial opportunity for you to pursue. And working in your favor is the fact that the education industry has one of the highest ROI percentages compared to any other sector. At the BLOQ parq (tBp), we recognize the immeasurable value of continuous learning, development, and growth. The smartest entrepreneurs never rest on their laurels. They are always on the lookout for ways to improve and impress. Never shying away from a challenge or the chance to learn a new skill. Now it’s time to educate yourself on the other variables impacting the growth potential for your future tutoring company concept.
School Closures Have Opened New Doors
In light of the pandemic, there has been a significant increase in demand for additional educational resources. Since the quarantine began, over 1.4 billion students worldwide have been impacted by school closures. Staying focused while doing remote learning has proven to be challenging for many, especially the younger children. In order to ensure students are not falling too far behind in their academics, people have been turning to tutors as a means by which to fill the gap. The need for supplemental education is not showing any signs of slowing down. According to the analysts’ predictions, the U.S. private tutoring market will grow by $7.37 billion by 2023.
Source: Globe Newswire
Tutoring has always offered many benefits to those who have sought out extra educational assistance. It comes with fewer distractions and a more personalized approach than the typical classroom setting. These perks are all the more appealing ever since virtual learning entered the equation. More students have begun falling behind in their studies; specifically in math. When analyzing data collected from nearly 4.4 million U.S. students in grades 3-8, the Northwest Evaluation Association (NWEA) findings show that, compared to last year, students scored an average of 5 to 10 percentile points lower in math, with students in grades three, four and five experiencing the largest drops.
Learning And Long-Term Success
As students (and parents) look for ways to eliminate deficits, raise academic performance and improve grades, the need for tutoring services is a desirable solution for the foreseeable future. You don’t have to be an expert mathematician to recognize this equates to an amazing entrepreneurial opportunity. Once you’ve defined your niche market and developed a detailed, research-based business plan, you’ll be well on your way to enjoying the benefits of owning a tutoring company.
- What you earn goes only into your pocket.
- You are the rule maker.
- You can schedule classes according to your convenience.
- You can follow your own business plan, etc.
At tBp, we are all about bringing as many benefits as possible to those who choose to live, work, and play in our thriving community. Our innovative and thoughtfully designed office spaces will meet all the needs of your future tutoring business while you help others meet their educational goals. Sounds like a pretty smart setup.