Business Insights

How to Manage your Online Tutoring Business

It’s time! You’ve opted to take the plunge and get your online tutoring business going. Or maybe you’ve already started, and you’re trying to optimize it. Either way, having a plan for managing your online tutoring business is a vital step. Depending on where you are in the process, everyone has different considerations and solution.

Get Started

To have an online tutoring business, you have to start somewhere. This will look different for everyone, but two important considerations that will make management easier are making our business plan and choosing your software.

Make a Business Plan

A written description of your planned business is what makes up a business plan. [1] This is your road map and a huge part of managing your online tutoring business. This is where and when you’ll decide how to go forward and how’ll you manage your business. Questions to consider include:

  • Company Description
  • Market Overview
  • Sales and Marketing Strategy
  • Operating Plan
  • Financials
 

Software

To communicate effectively with students, you’ll need to master the necessary pieces of software. This can be limited to bare essentials, or you can include software that helps you manage, like accounting and scheduling software. Software that’s essential for your business includes:

  • Video Calling Software
  • Virtual Whiteboard Software
  • Document Sharing Software

Choose a Payment and Billing Solution

A crucial part of every business is how you plan to bill for your time and receive payment. If you’re working through an established platform, they probably have a method already set up for you to take advantage of. 

However, if you’re doing things on your own, you’ll need to choose whether to bill in advance or afterward and what kinds of payments you’ll accept. 

You can either use a Payment Service Provider (PSP) or a merchant account. A PSP is easier to set up but less reliable, whereas a merchant account takes longer to set up. This is because they are more secure, putting you through an initial review process. They also give you greater flexibility in rates, as you can negotiate those with the provider.

 

Keep Going

The day-to-day operations of your business are where management is essential. This includes billing, scheduling, accounting, lesson planning, and more. However, before you get overwhelmed, you should know that running your own business doesn’t mean doing it all on your own.

While you can hire someone to handle the minutiae of managing your online tutoring business, that can be a high-cost investment. A more affordable option is often to use software that helps with scheduling, billing, and more. [2]

Managing Tutors

If you’re running a tutoring business where you work with other tutors, creating a network that can expand your influence means that communication is key. Make terms and conditions clear, remembering that professional tutors greatly value autonomy. [3] 

Many kinds of software can help manage multiple tutors to keep communication and professionalism straightforward. 

 

Managing a Business Requires a System

As in most things, managing an online tutoring business is made much easier if you have a plan. Starting with a business plan that gives you a clear idea of where to proceed and shoring it up with suitable software and management tech will make managing your business a breeze.

References

[1] How To Start An Online Tutoring Business:

[2] Automate your administrative tasks

[3] How to Run and Manage Your Own Tutoring Business

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Our ARTICLES

View our Articles

Below we have our three most recent articles pertaining to one’s online tutoring business. Feel free to read the articles below as they may give you some business insight! More articles will also be published in the nearby future!

2 minute read

Marketing your Online Tutoring Business

Marketing might seem daunting, but it’s a reasonably straightforward process. Marketing is simply getting word about your business out so you can drum up business and help as many as possible.

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2 minute read

Managing your Online Tutoring Business

It’s time! You’ve opted to take the plunge and get your online tutoring business going. Or maybe you’ve already started, and you’re trying to optimize it. Either way, having a plan is a vital step for for managing..

Read More

2 minute read

Benefits of an Online Tutoring Business

The pandemic brought many job opportunities to life and light. From new programming advances to delivery, businesses that adapted to the new normal flourished. This is true for online tutoring as well. 

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