According to a survey by EdWeek Research Centre, about one in twelve teachers quit their profession every year, driven by factors such as low pay, physical burnout, and deteriorating mental health. In response, these teachers are shifting towards online tutoring and prefer to work from the comfort of their homes.
Simultaneously, approximately 70% of learners consider online learning over traditional classroom learning and are looking for online tutoring platforms for their learning needs. Learners are highly inclined towards online learning because of the flexibility and convenience it offers.
These trends create an ideal opportunity for education entrepreneurs. By building an online tutoring marketplace, they can tap into the lucrative tutoring industry by providing tutors the opportunity to connect with a global audience and learners with a diverse selection of experienced tutors.
In this blog post, we share a step-by-step guide to create an online tutoring marketplace. But first, let’s know about the advantages of creating an online tutoring marketplace.
Starting a traditional tutoring business would project several limitations and geographical barriers. Whereas, the online tutoring marketplace opens the door to a much larger audience and offers more profit and sustainable growth. Mentioned below are the advantages of creating an online tutoring marketplace.
High Demand
Access to the Global Market
Low Entry Barrier
Reduced Operating Cost
Time-Saving and Cost-Saving
Now that you know the advantages of creating an online tutoring marketplace, let’s understand the steps to build an online tutoring marketplace.
Creating an online tutoring marketplace may seem a difficult task in the beginning, however, by following the steps mentioned in this section, you can easily create your online tutoring marketplace. Let’s dive in.
The foremost step before creating an online tutoring marketplace is to conduct thorough market research and competitor analysis. Gain insights into the strengths and weaknesses of the popular players in the industry. Understand the pain points of the learners and cater to their needs through your online tutoring marketplace.
Analyze the growth journey of popular players in the online tutoring industry and implement those strategies in your online tutoring platform. Gather information and create an online tutoring marketplace similar to popular players such as TutorMe, Varsity Tutors, Preply, eTutorworld, Tutorful, and many others.
Before creating your online tutoring marketplace, it is important to choose a profitable business niche. Selecting the right niche can make or break the success of your business. Consider the latest trends but at the same time find the profitable niche that will benefit your business and align with your passion, goals, and target market demand.
Popular niches in the online tutoring industry include:
After market research and deciding the niche for your marketplace, the next step is to decide the business flow and revenue model of your online tutoring business. The common workflow of an online tutoring business is as follows:
The business owner launches an online tutoring marketplace in the industry to connect tutors and learners. Here is the business flow of an online tutoring marketplace:
Here are the popular and profit-making online tutoring marketplace business models prevalent in the online tutoring industry:
Tutors connect with learners in a personalized learning environment on an online tutoring platform. The platform owner charges a commission from the tutor’s fee.
Key Players: Verbling, and Lessonface
Tutors can teach a large number of learners in a single session. The learners pay a fee to enroll in the group session. Later, after completion of the session, the platform owner releases the share of the tutor.
Key Players: VarsityTutor and TakeLessons
The instructor creates video lectures and uploads them on the platform. Learners can avail of these courses anytime and anywhere. The platform owner earns revenue by charging a commission from the instructor.
Key Players: Udemy, and MasterClass
The learners purchase a bundle of online classes by paying once, and tutors conduct live sessions and are paid by the platform owner after successful completion of the course.
Key Players: SkillShare
This business model caters to K-12 programs through an online tutoring platform. The business owner charges fees from the learners depending on the sessions and courses purchased.
Key Players: K12 and Bridgeway Academy
Read this blog to gain more information about business models.
Further, let’s understand how the platform owner earns revenue through an online tutoring marketplace.
The platform owner earns revenue through different channels. Some of the popular revenue streams for an online tutoring marketplace include:
Features play a vital role in the success of an online tutoring marketplace. Consider the features that provide an engaging learning experience and user satisfaction. You can incorporate features as per your business model. However, certain core features are a must-have for every online tutoring marketplace platform. Let’s have a look at them:
After finalizing the features for your online tutoring platform/website, the next step is to choose a reliable development approach. There are majorly two ways to create your online tutoring marketplace/website:
In this development process, you need to hire a team of web developers and designers who will create your online tutoring website from scratch. This development process is a bit time-consuming and may take a few months or even years to complete. Moreover, development from scratch requires a high financial investment.
Another convenient option is to opt for a ready-made online tutoring software. A ready-made online tutoring software comes pre-built with all the essential functionality and features to create an online tutoring website. With online tutoring software, you can cost-effectively create your online tutoring marketplace in a very short time. The time-to-market is much less with ready-made software as compared to custom development.
Yo!Coach is a popular white-label tutoring software to create your online tutoring marketplace. This ready-made online tutoring software offers all the essential features and functionalities required to launch a successful online tutoring platform. Moreover, it is fully customizable and highly scalable providing lifetime ownership and many other benefits. Further, Let’s explore popular online tutoring marketplaces built with Yo!Coach:
Yo!Coach team has helped numerous entrepreneurs successfully establish their online tutoring business in the industry. Watch this video to know more about their client base.
Once you have completed all the steps mentioned above, now you can launch your online tutoring marketplace in the industry. Make your target market aware of your business and tutoring services by implementing various marketing strategies. Promote your online tutoring business by utilizing the following marketing channels:
The online tutoring industry is growing tremendously and seems to present lucrative opportunities in the future. This is the right time for entrepreneurs to enter this domain by launching their online tutoring marketplace. Consider the steps mentioned in this blog to effortlessly launch your online tutoring business. Moreover, choose a reliable readymade software to quickly and cost-effectively create your online tutoring marketplace.
Q1: How much time is required to build an online tutoring marketplace?
The time required to build an online tutoring marketplace depends majorly on the development approach you choose. If you are developing your platform from scratch then it may take a few months to years depending on your needs and specifications. On the other hand, if you choose a white-label ready-made online tutoring software it may take a few days or so.
Q2: How much does it cost to create an online tutoring marketplace?
The cost of developing an online tutoring marketplace depends on several factors such as the development approach, feature integration, customization requirements, and more. The development from scratch can cost you from $30,000 to over $200,000. However, if you choose a ready-made online tutoring software it may cost you around $1500 and more.
Note that this is just an estimation, the actual cost may vary.
Q3: What are the legal requirements for starting an online tutoring marketplace?
There are no legal requirements as such for creating an online tutoring marketplace. However, you may have to register and define the legal structure of your online tutoring business. You can register your online tutoring business as an LLC, partnership, sole proprietorship, or corporation. Moreover, familiarize yourself with the regional laws and regulations prevalent in your country.
Q4: Does your online tutoring software come with free technical support?
Our online tutoring software– Yo!Coach offers one year of free technical support. Our team provides full technical support through multiple channels and ensures all the issues are resolved at the earliest.
Q5: What makes Yo!Coach an appropriate choice to create an online tutoring website?
Yo!Coach is indeed an appropriate choice if you are planning to create an online tutoring website. Following are its specifications:
Q6: Does Yo!Coach offers mobile apps?
Yes, Yo!Coach offers intuitive, user-friendly, and feature-rich mobile apps for learners ensuring a flexible and convenient learning experience on the go.
Q7: What are the prerequisites to build an online tutoring website?
The prerequisites to creating an online tutoring marketplace include: