Private Tutoring: A Global Phenomenon
Are you wondering where private tutoring is going as an industry? Curious to find out if it’s worth considering for a side job or a career change?
Private tutorials were once thought of as a secondary option only for wealthy families raising the next POTUS. But this way of thinking about private tutoring is changing. As a study by the market research firm Global Industry Analysts, Inc. shows, the tutoring industry is projected to rake in $100 billion by 2018 (GIA, September 2012) and $227.2 billion by 2022 (GIA September 2016). Yup, you read that right! The industry is expected to more than double in the next 4 years.
Parents around the globe are actively seeking private online tutors to help their children understand the lessons taught in school. They’re looking for a teacher who puts their child first. More adults are going back to school after years at home or in the work force, and they need help getting back into the mindset of being a student. College students need tutors who specialize in advanced subjects to get the one on one help they need to succeed. At every level, tutors are in high demand.
This industry is not just for local tutors looking to tutor the kid next door. There are multi-national corporations offering tutorial services. Independent tutors (like us!) are changing the landscape of the industry by bringing private tutorial services right into our clients’ homes no matter where they live.
Just how big is the private tutoring industry?
Here are some figures to blow you away:
Every year, more than 1 million American students seek online tutoring services.
More than 1/4 of families in the UK use private tutorial services.
In 2007, 1/3 of Canadian families hired a private tutor.
And these figures do not even come close to the numbers of students who seek private tuition in South Korea. According to Amanda Ripley, author of The Smartest Kids in the World, “seven in ten [kids] took extracurricular lessons” (2013).
The best time to become an online tutor is RIGHT NOW!
Why? Because more and more families worldwide are seeking quality online tutors and are spending a significant portion of their household income on private tuition.
As the infographic shows, the amount of money that families spend on private tutoring in several countries is phenomenal. In South Korea, an average of $17 billion is spent annually on private tutoring. And that’s in South Korea alone! Japan, Turkey, UK, India, US, and France are all viable target markets if you want to start your own online tutoring business.
To answer the question at the beginning of this article, yes, the private tutoring industry is BIG and will continue to GROW. What you also need to realize is this: the world is your oyster with the help of technology. With the Internet, you can break into these markets without ever having to leave your home. Or, if you prefer to travel, you can take your online tutoring business with you wherever your wanderlust takes you.
Here’s a question for you: If you could take a tiny slice of that $100 billion cake next year, even just a 0.05%, what would that mean for you and your family? Would you grab that opportunity? If you have a passion for teaching and want to start tutoring students all over the world but don’t know where to start, click here to save your seat for the next FREE Webinar, 3 Secrets to Getting OnlineTutoring Students without Worrying How you are going to Pay the Bills Each Month!.