An exciting business: tuition center plan
STARTING UP A TUITION CENTER
Opening a tuition center in any situation is very tough especially if you don’t have any experience of running a business before. Don’t get caught in the buzz of big names which are earning thousands of dollars in this business because they have a brand name and perhaps when they started there were fewer tuition providing centers so they avail that opportunity. The easiest way is to answer simple questions starting from “which”, why, who, how. From my own personal experience here are some important strategies of starting up a successful tuition center:
Firstly, try to get a franchise of an already established brand name. You must be wondering that why I am suggesting you such an idea when we are talking about a new tuition center. Even if you take up a domestic franchise, it is still very difficult to initiate a tuition center and to get a lot of students first up. So even if you are thinking of making millions in this business from the start, you shouldn’t get your hopes too high and this is from my own personal experience. If you are totally new so start from your home and establish yourself as a known teacher at least in your area. This might take a few years however it will save you from a big loss afterwards.
Then after making up your mind make a plan. Planning should be detailed and written down on a piece of paper. If you think that you are very smart and you will remember every thing then forget it! As without writing it down you will be unable to convey the message to your fellows or staff. The plan should be realistic. Take a few surveys in your area and search on the internet as well.
Secondly, focus on the ‘which’ questions. Which brand name will be more eye-catching for the people? Which place is suitable? Which subjects should be a part of my institute? Which time should I start? Which time should I advertise? The brand name will be for ever so don’t take a decision instantly instead think for a few days and then decide. A name which will be your identity throughout your life and at the same time it also catches the audience. Some might take a name that will sound similar to a successful running brand name. Others will think of coming up with something cheesy and interesting. It is often a wise option to try to open your center in an area which has a lot of demand and lacks the presence of any quality institute. Yes, you might be wondering about losing the benefit of the economies of scale but in a coaching center this phenomena never works as why would someone come to study from you when I have Berlitz next to it. Subjects are an important factor too. Try to choose subjects which will give you maximum revenue like the SAT (I) and SAT (II) tests and perhaps a few language courses at the start. Always remember that the key to the success of the tuition center is based on the number of referrals it gets. So if you are not 100% sure that you can teach or you have the right teachers for the above subjects then leave them. Initially, it will be very costly for you to hire any professional teacher because they are highly paid and will not even work with you as you have just started. So it is sometimes feasible to start with the set of subjects you have mastered teaching. The summer vacations is the best time to set in and start advertisement a month earlier so that you have enough inquiries to start with.
Then answer the “who” questions. Who should be a part of your institute? It includes all the people who you can rely on and those who socialize more often have more contacts. So offer a percentage or proportion to your friends for sending students to your institute. Don’t think that you are paying them. Sometimes friends and relatives don’t do it just because they think you will be earning more than them. Make a friend responsible for marketing and let him do it his own way. GOOGLE AD WORDS is cheap and effective. You won’t loose any money until your ad is clicked. Raise the bid to $2 initially so that your ad is shown at the top. Newspaper ads are the second best. Pamphlets and banners can only encourage people of the surrounding area. Use the extra money you have wisely. Google Ad words so far has the maximum response rate. Make a group on FACEBOOK and also make a page as well. Don’t take the entire burden on yourself as it will be more than you ever thought of. It is often less of a menace if you indulge your friends in a partnership as work and more importantly investment is shared by two. Never let control of the accounts at any stage and try to hire someone you trust and check him/her every day. Also keep a track of all the transactions and later on use camera surveillance.
These all have helped me and I hope they will help you as well. Don’t loose hope at the start if you are not even making $100 a month. Try to pay all the bills regularly so that they are not accumulated. If you are not an expert teacher then I would advice you to join a school even if you are paid very less. In this way the students will come to know about you. This is my last advice.