Education is the key to success. Surprisingly, it's one of the fields that have never witnessed a recession. There is a misconception that business in the education sector requires huge capital investment, far from the truth.
The education field is quite broad and offers a myriad of business ideas. If you want to venture into this sector, you're in the right place.
Below are both offline and online concepts to pursue.
The Covid-19 pandemic has brought immense changes in businesses, and the education sector is not exempted. When most countries got locked down, education shifted from the formal classroom to online. With these changes, tutors scheduling time to visit homes or coaching centres are facing challenges.
More so, social distancing has become a norm. This necessitates online learning. If you have knowledge and experience for a specific subject, you can offer online tutoring classes. All you need is to invest in a good camera for shooting videos.
Online tutoring is also one of the legit ways to earn money online. You can fix your rates, either weekly, monthly, or hourly.
If budget is your concern, then a play school is the right place to start. It’s a lucrative business idea that requires moderate investment. You can start a play school at home or rent a house for the same.
This is where children under the age of 7 spend their day under the supervision of teachers. Kids at play school should not be under any pressure to perform. However, this is a crucial development stage.
Therefore, employing potential teachers is paramount.
Pursuing a bachelor of primary education will be handy in running a play school. This is to equip you with the necessary knowledge to handle kids at their most crucial development phase. Opening and running such a facility demands commitment and dedication.
Parents are constantly looking for educational toys for kids of all ages. The toys create an enthralling learning experience at home. You can source or manufacture educational toys.
The toys come in the form of machines, books, electronic gadgets, and machines.
And like any other business, research what the current players are doing to prevent entrepreneurial failure. Customizing the toys is an innovative idea that can fetch you a substantial profit margin.
The reading culture has changed. Today, people hardly get time to read a hardcopy novel. The availability of smartphones and internet-enabled devices facilitates easy reading habits.
An online library is a profitable business idea to pursue. Ensure the platform offer books from different subjects and genres.
Venturing into the stationery business is another lucrative idea. More so, you don't need special skills to open this business. Investigate the school curriculum to know the best items to stock.
Copies, pencils. Books, sharpeners, files, among others, are few items required in the educational sector. Furthermore, the business can be launched with low investment.
The Bottom Line
These are few innovative business ideas in the education industry. And like any business, an in-depth research is necessary to avoid business failure.