Internet technology has increased significantly, and communication has become more and easier with internet enabled devices. Online Education, as with any other business is worth getting into. Of course, existing tutoring services can adopt online education and expand their horizons. Of course complete newcomers could gain entry into the field of online tutoring. Let us examine the business environment of online tutoring.
Low Barrier of Entry
The Internet is a great leveler. A single person can have access to services which are equally sought after by multinational corporations. This applies to online tutoring as well. The equipment needed to setup an online education service is fairly low cost. Once the service is up and running, given the right conditions, the online tutor is ready to serve any student anywhere in the world. Compare this to a conventional tutoring service which has to invest in office space, office staff and of course managers and the tutors. We cannot all the money that has to go into marketing and maintenance. An online tutoring service has none of these investments.
Basic economics tells us that lower barrier means lots and lots of players. You will find yourself competing with thousands of other online tutoring services who have also jumped into the fray to take advantage of low setup cost. You will find yourself competing fiercely on price and quality.
Really Huge Market
Online education has no geographical limitations, so you can market your service anyone who has the required technology. Compare this to a regular tutoring service which can serve a given distance around its office and accordingly limit itself and by extension limiting its maximum revenue that can be earned. Conventional tutoring service is also limited by the tutors available in its geography, something which is not a concern for online tutors, just like their students can be anywhere in the world.
Of course, an online education will find itself competing with any number of other online tutoring services, not just for students but also for online tutors. A conventional tutor will have limitations when it comes to working for a tutoring service, but an online tutor, can prospect work from any of the thousands of online education centers. If the online tutor is good and specialized in a subject of high demand, retaining him is going to be a challenge.
Flexibility with Time and Students
Unlike conventional tutors, online tutors can choose to teach the subjects they want at flexible timings. This means, the schedule can be designed to suit both the students and tutors and does not have to follow the conventional morning to evening pattern of normal classes. This is especially gainful for online tutors who are otherwise occupied during the normal working hours.
Effectiveness of Virtual Classes
All said and done, a classroom, virtual or real is measured by how effective it is in imparting education. Not all students can learn from a online tutor who is sitting or standing as the case may be, hundreds of miles away. Sometimes the technology can be limitation as well, as in poor internet service or bad voice quality and so on.