Starting a business is certainly not an easy task because it requires lots of considerations, decision-making, and effort to be put into building such a career. The tuition industry has gained a great amount of respect and importance exponentially over the past decade and its value is still held high today because students feel that there is a dire need to seek help elsewhere besides school because school by itself is unfortunately insufficient. The education system has evolved in many aspects over the past decade. Singapore has itself has evolved and progressed in terms of its economy and its competitiveness with the rest of the world. Singapore government encourages the growth of businesses and offers help to start-ups in order for the country’s economy to prosper.
In order to adapt to the ever-changing corporate landscape, the education system in Singapore has also made its own transition in order to ensure students are capable of catching up with the progress that is seen internationally. As a result, considering the fact that there is increased demand for tuition teachers and a need for the business sector to grow in Singapore, it is good for aspiring tutors to start their own home tuition business and build a career for themselves.
One could start a tuition agency which requires lots of investment when it comes to setting up a website, starting a centre, hiring tutors and promoting the centre to attract students by giving out flyers that say “home tuition is good for your child”, etc. The other way to start a home tuition business is to be a home tutor get as many students as possible to develop your career (this barely requires any investment!).
Tuition teachers have a huge responsibility as students are dependent on their tutors for guidance and advice since that is not possible to be obtained into schools. If you decide to start a tutoring business, though it may sound easy and convenient, it is important to realise that there are plenty of challenges to face and many hurdles that you could possibly run into.
So, here are some tips to start a home tuition business…
#1: DEVISE A PLAN
Every good business starts with some strong ground planning. You may not necessarily be able to stick to that plan till the very end because you may need to adapt to situations and make certain decisions along the way. There are so many other tutoring businesses out there which are doing very well and if you want to start your own business, you need to make sure you are competitive with the market.
You need to do your due diligence by conducting research on the various tuition businesses out there, about how they function, their teaching strategies and about the tutors as well. Attain clarity and then construct a step-by-step plan as to what you would do.
#2: SET THE PRICES
The first thing that parents will look for is the tuition rates being stated in the tuition centre. This is because though parents want to provide the best education possible for their children, they will consider the budget as well because, in a household, one needs to spend within the means. Tutoring rates change according to the subject, educational level of the student and the location you will teach at. Hence, you will need to estimate the price you will set for your home tutoring services based on what the other businesses have done as well.
#3: THE BOOMS AND BUSTS
Every business has its sinusoidal cycle of peaks and dips and the important thing to do is to observe this and learn from it. The success will probably indicate to you that you have made the right decisions. The failures and downfalls will teach you to not do certain things and make certain decisions. At the end of it all, they are meant to teach you something to move a step ahead in your career.
Home tutoring is indeed a lucrative business and it’s a service that is in need for many students in Singapore in order for them to survive in their examinations. Building a business is not easy but remember one thing: When you set your heart on something, to achieve something that is for the good of others, the universe will conspire in your favor. Being an educator or providing educational service is a noble profession and has to be taken seriously.