Teaching is a rewarding job profile, but sometimes it becomes somewhat monotonous. It could be a good idea to diversify your teaching skills and try something new. As we all know that the current COVID-19 pandemic has changed the teaching sector completely. Now a days, the education sector is moving online. In this article we will discuss about some profitable business ideas that you can start as a teacher.
Read on to know more about the business available for you. Some of the most profitable business ideas to invest in as a teacher are given below.
1. Private Tutoring
Many teachers opt for private tutoring as an added source of income or a side business. If you are planning to venture into the field of private tuitions, we advise that you do it in an organized fashion. To start private tuitions, you would require a place where you can conduct your classes and a bit of advertising for your service.
You can start with a small group of students and teach them a specific subject or a set of subjects. You can also specify some classes which you would teach. Before you start the business, try to organize your thoughts and your study materials. It would ensure that you are well-prepared for the classes you are about to take. Prepare for the topics you are about to teach in each class. Have a proper setup for the class with table and chair arrangements so that the students have a comfortable setup for studying. You could specify the number of hours and the number of classes per week. Charge reasonably, based on per class or monthly.
2. Book Writer
As a teacher, you could even explore your writing skills. You can start by writing on the topics which are dear to you or opt to extend your services to someone who needs a book written with the insights they provide you. Keep a fixed rate based on the type of content you are writing. Book writing business does not require any investment to start. You have to approach prospective clients to get proper business in large amounts.
You can also fix your rates depending on the number of words or pages required for the book. If you are writing a book in your name, ensure the marketing is done, and also find a publisher who would want to help you publish the books in the market.
3. Resume Writing
Resumes are an important tool to get you a job anywhere. Not everyone is aware of the right processes to format a resume to be able to make the right impact on the recruiters. If you think you know the process of formatting and writing resumes to make the best impact, you can offer to assist individuals who need to write or even update their resumes to meet industry standards.
You can charge a fixed amount for writing the resumes for your clients. You might even set a standard timeline and specific requirements to deliver the completed resume to your clients. Try to provide the resumes with quality and always stay updated with the changing industry standards. You should also take into account the requirement of your clients if any.
4. Educational Video Creator
Many prefer to get information online, on the things they are unable to understand otherwise. You can start earning by having a YouTube channel in your name, where you would create and post videos, and people would require to pay to access or download the content.
Use video creation tools and software and tools available in the market to be creative. Ensure that your video quality is good, and the content you offer is also insightful. In turn, it would ensure that you get more and more viewers and also generate a good income out of the videos.
To become an educational video creator, you only need to invest in a few tools initially, and you are good to go. It is advised that you begin with a specific topic or set of topics, for your videos to start drawing people’s attention to your channel before you go all out.
5. Online Tutoring
Online tutoring is another trending business at present because of ongoing COVID-19 pandemic around the world. Being a teacher, you can start online teaching very easily. The best thing about online tutoring is that it does not have any geographical boundaries. Sitting in front of your computer, you can teach across the globe. Everything else remaining the same, you can start online tutoring with a minimum investment in a computer system, some teaching tools, a stable internet connection, and a bit of marketing for your business.
Online tutoring has become a popular trend at present, and you can be part of the community anytime you want. You can teach in a group or one-on-one as per the student’s requirement or as per mutual understanding.
6. Scholarship Consultancy
There are many students across the country or abroad aiming to study in reputed universities in the US. Many of them would require financial aid to continue their higher studies. If you are good at finding and applying for scholarships, it can turn out to be a good business opportunity for you.
You can start a scholarship consultancy where you will guide students to apply for the different scholarships and help them in getting the financial aid they require. You can extend yourself to students across the country or even abroad.
Reach out to students seeking help via the different social media platforms or otherwise. The best part about a scholarship consultancy is that you do not need any investment to start the business. The success of your business solely lies on credibility to help students get the scholarships as per their merit.
7. Proofreader and Editor
Authors write books but when it comes to proofreading them, they become reluctant as very often in the flow, they tend to overlook certain mistakes in their writings. Many of them prefer to hire a professional to do the task for them. If you are a teacher and looking for some side income, becoming a professional proofreader is a profitable opportunity for you.
You can extend your proofreading and editing services to clients across various platforms and ensure that your quality of work is appreciated. If you are a good proofreader, you can get a lot of work out of this business soon enough. Proofreading and Editing is a profitable niche for the business. Once you have set the expectations right, there is no limit to the tasks you can get at a time.
If you know what you are doing, you can become a transcriber apart from the teaching task you already do. You can help large companies transcribe their meetings and speeches with your writing, listening, and understanding skills. There is no investment required for this kind of business.
Being a teacher might be an added advantage for you to start a transcriber business. Many companies lookout for professional transcribers, and you could be one of them. The pay for a transcriber business is high, but the investments to start the business are comparatively low.
Many companies hire external researchers to do market research on behalf of them. If you have good researching ability, it could be a profitable opportunity for you to start a business in the field and make money out of it. You can extend your research services to large companies as well as other small businesses. The prices you charge for your research services should be competitive with the market requirements and market standards.
10. EdTech Business
There are n-number of EdTech companies cropping up each day in the country. Being from an educational background, it could be a good idea for you to start an EdTech business and start competing in the market.
You can begin an EdTech business during your free time and use the services in the best interest of the students, and earn an added income apart from your teaching hours. If you are confident with your product, you could even extend your services to other teachers, collaborating with others could be a greater success.
You can make an innovative product to increase the learning curve of the students and make learning enjoyable for one and all. There would be some investment to start this kind of business. However, the returns which EdTech companies come along with are beyond expectations. Understanding of the market right and having the right tools will help you make a good product for your EdTech organization.
If you thought that as a teacher, teaching is the only profession open to you, you were wrong. There are numerous options for teachers to have a side income. If you know what you are doing, in many cases you might end up getting some kind of advantage because of your profession. Some of these profitable business ideas would require some investment from your end while others you can start right from the comfort of your home with only the basic tools and resources available to you.
Don’t stick to only teaching as a profession, explore where else your talents lie, and see new business opportunities open up in front of you.