How to start a tutoring business
As funding for education declines and competition to get into college and university programs continues to rise, the market for tutoring programs is rapidly expanding. Whether you are interested in how to start a home tutoring business or you opt for the safety and structure of a franchise, an honest self-assessment and a solid tutoring business plan will be necessary to run a successful business.
Planning Your Tutoring Business
Before you learn how to start a tutoring business, consider why you want to start one. Perhaps you have a knack for explaining and clarifying concepts, and you like to work with kids and adolescents. Or maybe you simply want to start a business, and the potential for financial success in the tutoring industry is too good to pass up. In any case, make sure you are ready to commit to the challenges and work that a tutoring business will pose.
A tutoring business offers considerable flexibility—starting a home based tutoring business would allow you to limit your working day as much as you wish, as each tutoring session would last only a few hours. Furthermore, whether you choose to operate your business out of your own home or travel to the homes of your students, your operating costs will be very low. However, another option is to rent a space in which to tutor your clients, or gain the security of an established reputation by opening a franchise business.
Regardless of the size and nature of your prospective tutoring business, you will need to construct a tutoring business plan to organize your goals and to convince potential funders that yours will be a successful and lucrative business. Include a summary of the services you will offer, where you will base the business, how large you intend the business to grow and how you will market your company. Enlist the help of a business consultant to walk you through the initial stages, or if you decide to open a franchise, you can look to your franchiser for business advice and details on how to get started.
Starting your Tutoring Business
As with any other small business, you will need to secure a business license from your state and local government and acquire liability insurance. The next step will be to purchase the educational tools you will need for your curriculum: textbooks, worksheets, stationary supplies and teaching guides. After that, you can begin to advertise your services around your community; make sure you leave information with local school councilors.