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Educational Business Ideas To Start Now As An Entrepreneur

Educational Business Ideas

Have you heard the statement, education is the best legacy? Well, that statement is still true. One of the sectors that will last the test of time is the education sector. Parents believe that one of the things they owe their children is quality education. As a result, they are willing to invest as much as possible to achieve that. If you know all these facts and you are still doubting the profitability in the education industry, you are in for a rude shock. Educational business ideas are not far fetched. The sector keeps improving, both locally and globally.

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Without mincing words, the education sector is about the largest and one of the most profitable businesses contributing to Nigeria’s economy. Interestingly, there are several educational business ideas available for you to invest in. In this article, we looked at twelve of such ideas. So, follow the article closely and make your preferred choice afterward.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

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Ten Educational Business Ideas You Can Start Now

1. Private Nursery/Primary/Secondary School Business

Do you have a passion for impacting knowledge into others or you are just interested in running a private school? The private school business is a smart choice. When you hear about the education business, this is the business idea that first comes to mind.

Private schools offer high-quality education and are not managed by the state. Starting a private school gives you the opportunity to provide a valuable service to families with children in your community. A lot of people in this business started small and you can also begin that way if you don’t have the required resources to start big immediately.

Truly, starting a school can be quite challenging, so if you want to start one, you need to make sure you have a reasonable understanding of the cost and the resources needed to successfully run the business.

First, create the vision and mission statement and core values that will guide the school’s operation, because it will help you in making key decisions. Apart from acquiring a conducive and safe location for your school, you will also need financial, legal, leadership, and real estate knowledge.

Also, understand your target market so that you can figure out where and how to advertise. You will also need to hire and train staff as you progress. Needless to say, you must be knowledgeable and experienced in this business before you venture into it.

Nursery school is easier to start than primary and secondary, so you can rent a small space, and begin with that.

Watch the full video of all the educational business ideas you can start now and how to start them here. Also, subscribe to our channel to get more business ideas and insights.

2. Business Tutoring Services

Business tutoring services are also one of the educational business ideas you can start. If you have experience running a successful business, you can earn a living by teaching other people how they can replicate your result.

Entrepreneurship is the new wave and truly, it is one of the pathways to creating wealth. This is why starting a business will remain top of mind for many. Sadly, many want to be business owners but lack the expertise and knowledge to do so. Several startups do not last five years before packing up. But, the statistic can drastically reduce if experienced people can walk them through the journey. So, there is a ready market waiting for you in this niche.

You can begin as a business consultant that entrepreneurs can contact when facing business challenges. Thereafter, you can start a business school that admits students regularly. You can also get hired by companies to train their employees on certain skills or any area of deficiency in their business.

Apart from the profit involved in this business, you will also be helping businesses survive and that means job security for many.

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Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

3. Computer Training Institute

It’s no longer news that we are in a technology-driven world. Surviving businesses are those who have mastered the art of leveraging technology. So, if you can set up a business that equips people with computer knowledge, you are taking a step in the right direction.

Before you can start this business, you need to be proficient in various computer programs that are useful in the business world. The programs include word processing, presentation, animation programs, engineering programs, databases, and spreadsheet programs.

Although many professionals can use these software to some degree, most professionals do not have a deep understanding of them. After getting the requisite knowledge, the next line of action is to develop a curriculum around your expertise. You can either purchase teaching materials or create your own. Thereafter, segment your classes to cover the different programs and ensure the materials are understandable.

The third step to running a computer institute is to locate a teaching venue. The space you’ll rent depends on the number of students you are targeting. You could rent office space on a monthly basis or rent a conference room for your classes.

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4. Driving School

Another good educational business idea you can start is driving school. Many people want to drive but don’t know how to. This creates an opportunity for you to create a driving school. All you need to do is research the driving school licensing requirements for your state and get a driver’s license. Ensure you research the competitions around you so you can create a favorable service and price list.

Basically, what you need to begin this business is to get a car, and research to know a less busy road or field for practice, a curriculum and lesson plan. Knowing how to drive is not enough, you must also be familiar with traffic rules and laws that must be complied with.

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5. Fashion Design School

Here is also one of the educational business ideas you can start. One major requirement needed for starting this business is fashion design knowledge. You or your employees must be fashion designers. Being able to design clothing is one thing, but to turn your passion into a profitable business is something you need to learn.

Statistically, the global apparel market alone is worth three trillion dollars and is growing by 2% annually. Actually, any business catering for the daily need of people is one of the best businesses to invest in. Starting a fashion design school is easy and straightforward.

You can start out by purchasing sewing machines, get a space, and admit students that want to learn the art. There’s a potential to make six-figure annual income in a fashion design school. It’s also important to keep up with the trends as the fashion business keeps evolving and no student wants to be trained under an old-fashioned school.

You can also record videos on how to sew and sell it as an online course. Students should be awarded a certificate once they complete the course.

See Also: How To Profit And Stay Up-To-Date In The Fashion Industry

6. Music School

Music School also made it to our list of educational business ideas you can start. Are you musically inclined and you dream to make money with it? Owning a music school is one way to turn your passion into a business.

Many people not only love music but also want to learn how to sing better and play an instrument. A music school may offer private or group lessons at home or in classroom settings. The costs associated with starting a music school is low. For a start, you can begin by teaching your students in their homes, public places, school, or church. The students will be responsible for buying their instrument.

As you grow, you can rent a space and get different instruments which is the most expensive start-up cost you’ll incur. But, you can reduce the start-up cost by getting fairly used instruments.

Additionally, the ongoing expenses for a music school business are rent, equipment maintenance, power and occasionally pursuing new copies of music, among others. The ideal market for a music school are those that have a passion for music and are interested in learning how to create music. They range from students in school or adults who have free time that can be spent practicing.

To make money in the music business, you charge students for music lessons. It could be on an hourly, per-lesson, or monthly basis. If you want to generate more revenue, consider group lessons as there will be more than one student being taught.

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7. Tutoring

Tutoring business is yet another billion-dollar business idea. Before you consider starting a tutorial business, pinpoint your niche because tutoring is a very diverse business.

What type of tutoring will you focus on? Will you cater to younger kids, special needs students, or exam-specific tutoring? Settle that first and then plan your budget. If you plan to quit your 9-5 job to become a tutoring entrepreneur, ensure you set aside money to cover at least three to six months of living expenses.

Don’t also forget that tutoring is largely a word-of-mouth business, so you’ll need to do a lot of it. While you will be working one-on-one with the kids, the parents are the ones you have to sell yourself to. Importantly, offer great service that extends beyond tutoring sessions. Your success in tutoring business is highly dependent on your ability to connect with your target audience.

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8. Education Blog

Education blog is also one of the educational business ideas to start in Nigeria. Due to the fact that there are many niches within the education industry, you won’t lack topics to write on.

Your blog could focus on some of the following: lesson plans, tips for doing well in school, university updates, tips for gaining admission, technology in education, adult education, review of curriculums, and how to succeed in school. The list of topic ideas is endless.

When you run a search on education blogs, you will see quite a number of ideas that will inspire you. To be any type of blogger, you must be good at writing. Also, learn how to optimise your blog for visibility. There are millions of blogs on the internet, so you need to put in extra effort to be seen.

Your profitability is dependent on your visibility. If you are a teacher, Edublogs.org is a great place to host your education blog for free. The platform is powered by WordPress and has been around since 2005.

See Also: Education Beyond Schooling: Why Going To School Won’t Make You Successful

Here are some of the tips you need to build traffic to your education blog.

i. Reach out to local parenting communities and tell them about your blog so that they can direct their children to it.
ii. Connect with influencers in your niche. If you build a strong relationship with them, they can give you a shout out on their social media platforms which will give you access to their large audience
iii. Advertise base on well-researched keywords in your niche
iv. Offer guest posts to other bloggers in the education community
v. Build a strong online presence across social media. Post your links on your platforms and encourage your friends to share
vi. Take advantage of live streaming options on different social media platforms. Teach on topics you have on your blog and direct them to your blog to read more.

You can make money on your education blog through banner ads, sponsorship, affiliate sales, selling of educational products, etc.

See Also: Financial Education 101: Should I Save Or Invest?

9. Art And Culture School

If you love art and culture, building an art and culture school is also one of the educational business ideas you can start. With the school in place, students can enroll for different art of their choice. It could be painting, sculpturing, carving, scriptwriting, stage play, dancing and so much more. We are in an era where academic education is no longer enough to keep people on their feet.

There are talents hidden in people and if you can start a school that’ll help nurture these talents, you are helping to build the future of many. And by extension, the Nigerian economy as a whole.

Note that this business requires space that can accommodate all the students. Also, you will need to employ skilled individuals that will work with you. Additionally, you can upload your art and craft videos as an online course for interested students to buy.

See Also: 100 Profitable Business Ideas For Aspiring Entrepreneurs

10. Bookstore

An online or offline bookstore is one of the easiest educational business ideas you can start today. It doesn’t cost much and it’s a straight forward business model. There is a large market for several genres of books by different authors. Conduct thorough research before stocking your bookstore so you won’t store books that are not relevant to people’s needs.

Although electronic books; audiobooks and digital magazines have come to stay, many people still prefer buying and reading printed books. So, you can invest in both offline and online stores. If you decide to sell online, for instance, choose a specific niche, such as books on sports, academics, religion, motivation, and the likes.

See Also: How To Start A Book Publishing Company In Nigeria

Other Steps To Starting Your Educational Business

Step One – Register Your Business With CAC

Registering with CAC is one of the basic steps to structuring your business in Nigeria. The approved body responsible for business registration in Nigeria is Corporate Affairs Commission (CAC). When you register your business, you can open a corporate account with it.

Besides, it makes customers trust and see you as trustworthy. You can register your education business either as a business name or a limited liability company. The first step is to run a search of your preferred name on CAC’s portal. If the name has not been registered by another, you will be able to reserve it.

Thereafter, you can proceed with the registration. The procedure is easy and seamless but to avoid the challenge most aspiring business owners face when registering, hire an expert to carry out the process for you.

A highly recommended firm offering this service is ReDahlia. ReDahlia is located at 43B, Emina Crescent Off Toyin Street, Ikeja, Lagos. The interesting thing about ReDahlia is that you don’t have to be in Lagos to register with them. You can send all your details via email and your certificate will be delivered to you once it is ready.

In addition, there are required licenses you need to obtain depending on the educational business idea you choose.

See Also: Benefits Of Registering Your Business With CAC

Step Two – Create A Business Plan For Your Education Business

Records have it that businesses with a business plan do better than those without a business plan. A business plan specifies the long and short term objectives of your business and how you intend to achieve them. You can begin writing them one day at a time.

Basically, here are the information that should be found in your business plan:

  1. An overview of your education business
  2. Executive summary
  3. General company description
  4. SWOT analysis
  5. Market research
  6. Your strategy
  7. The team
  8. A marketing plan
  9. An operational plan
  10. Financial projection
  11. An appendix

See Also: Business Plan – How To Write A Business Plan Step By Step For Your Business

Step Three – Secure A Location

This step depends on your choice of the education business. Some of the educational business ideas listed here can be started from home but most of the ideas require a space. Not every location is good for the education business. Situate your business in a residential yet commercial area because parents will prefer a location either close to their home or workplace.

Also, work on putting adequate interior decorations in place to attract your potential customers. Your chosen area should be safe and conducive for students. Therefore, ensure to carry out proper research before settling for a location.

See Also: Real Estate Investment In Nigeria Is Gold For Every Entrepreneur

Step Four – Acquire Funding

You need capital to carry out most of the educational business ideas listed here. If you have a 9-5 job and you’ve saved enough money, you can divert the cash into your business because it will yield returns. But, if you don’t have capital in place, there are funding options to consider.

A potent option is to reach out to family and friends first. With your business plan, you can reach out to angel investors or venture capitalists to invest in your business.

Nowadays, there are several platforms giving grants to startups as we on the opportunities section of Entrepreneurs.ng. Be on the lookout for such and take advantage of it. Aspiring start-up face challenges with getting loans at commercial banks but regardless, some startups are still able to acquire loans from banks. So, a bank loan is also an option to explore.

See Also: 11 Ways To Get Funding And Grow Your Business In Nigeria

Step Five – Promote Your Business

Most times, people start a business because they are capable, competent, or passionate about the business idea. However, they tend to neglect the tricky and most important aspect which is how to get the right people to patronise the business.

There are several marketing strategies you can employ to promote your business. That is why this aspect of your business plan is very crucial. Word of mouth, referral, and online advertisements work best for the education business. Other proven ways to promote your business include strategic collaborations, creating an email marketing strategy, offering freebies/discounted prices, and offering quality service.

See Also: Cheap Ways To Promote Your Business As An Entrepreneur

Finally, running educational business ideas is not rocket science if you carry out the needed research before launching out. Your first two years may be to continuously create awareness for your business but once the education business picks up, your growth will be steady.

Are you thinking of venturing into education business? Do you already run an education business? We will like to read your thoughts in the comments. Also, share this content with your audience if you found it useful.

Let’s create visibility for your brand and put your business on the world map. Contact us today to make your brand the preferred choice for our audience of entrepreneurs and business leaders.

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