Business Scope: 💡
Online learning was already a growing industry pre-2020, and the COVID-19 pandemic only accelerated this growth.
By 2023 and beyond, it’s expected that this trend will continue as more people become comfortable with online learning for both professional development and personal enrichment. Niche subject areas, such as mindfulness, coding, health and wellness, and entrepreneurship, are likely to continue to gain traction.
Product & Service Can Offer: 🎁
Self-paced online courses: These are courses that students can take at their own pace, allowing for flexibility in learning.
- Webinars and live courses:These are real-time, interactive sessions that provide a more traditional classroom experience.
- Course bundles: These are groups of related courses sold together at a discounted price.
- Subscription services: These provide access to an entire library of courses for a monthly or yearly fee.
- Consultation services: In addition to selling courses, you can also offer personalized advice and coaching.
Competitors: 🐒
- Udemy: Offers a vast range of course topics, both free and paid, in various languages.
- Coursera: Partnered with top universities and organizations to offer courses, certificates, and degree programs.
- LinkedIn Learning: Known for professional development courses.
- MasterClass: Provides courses taught by celebrities and industry leaders.
- Skillshare: Offers creative courses taught by professionals in their field.
Investment: 💰
The cost of starting an online course business can vary significantly depending on your goals. At the minimum, you’ll need to invest in a high-quality camera and microphone for course creation (around $200 to $500). You’ll also need a website or platform to host your courses. Platforms like Teachable or Thinkific have pricing plans that range from $29 to $499 per month.
For marketing your courses, initial costs might be relatively low if you’re leveraging social media and free SEO tactics. Still, more aggressive marketing campaigns might require a budget of thousands of dollars.
On the high end, if you are hiring instructors, investing in professional filming, creating a custom website, and using high-level marketing strategies, you could spend $10,000 or more to start.
Where to Sell: 🛒
- Udemy: Allows you to create and sell your course with their extensive student network.
- Teachable: Provides you the tools to create and sell your online course on your website.
- Thinkific: A platform that lets you create, market, and sell your own online courses.
- Skillshare: A community marketplace for creative, business, and tech skills.
- Kajabi: An all-in-one platform that allows you to create, market, and sell your course.
Resources: 🔗
- [Udemy Instructor Guide]
- [Teachable’s Ultimate Guide to Creating an Online Course]
- [Thinkific’s Online Course Creation Guide]
- [Skillshare’s Teach Guide]
- [Kajabi’s Course Creation Blog]
Note: 📔
Remember to check the accuracy and relevance of these guides for your specific situation. Good luck with your venture!