Are you looking to give private lessons online but don't know where to start? The good news is that starting an online tutoring business is a low-cost matter. With the outbreak of the Covid-19 pandemic, there has been a surge in awareness of online tutoring, leading to its massive adoption. This means that even after the pandemic fades, more students will prefer the convenience and flexibility of online tutoring. When it comes to payments, most platforms use Italki credits (10 Italki credits are equivalent to one dollar).
After students purchase a lesson package, the company obtains Italki credits for that lesson package. When the lesson is completed, Italki charges a 15% commission based on the price of the lesson. Online tutoring is the future of education and will continue to grow tremendously globally. This is why it's important to approach your online mentoring business with a strategic mindset.
You should also conduct market research to identify the needs of your potential customers and how you can meet them as an online tutor. When you teach online, you eliminate any travel-related expenses and you don't have to rent a space for tutoring. Unlike many brick-and-mortar businesses where a lot of capital is needed to start, online mentoring requires the bare minimum. Anything else you decide to add as additional gadgets can be added if you have additional funds to spare, or after you've started monetizing your online tutoring business.
Before setting up an online tutoring website, it's important to have precise requirements in place. This will help your team know how to create a website that will help you succeed. According to Ned Renzi, an investor in the online tutoring platform Paper, the demand for online tutoring is enormous and existing platforms cannot cope with the volume. Most platforms in the online tutoring market offer complementary learning and are not even trying to replace traditional education.