Inc. Magazine published an article The Best Industries for Starting a Business In 2010. Not sure what to make of most of the article, but they did include Exam Preparation and Tutoring as one of the top ten.
Parents always want their kids to do better on tests. A large number of adults returning to school are also looking for an edge. Given the low barrier to entry, this field is competitive. But if you carve out the right niche, it could be lucrative.
The industry, which includes tutoring in such fields such as special education, language, and music, grew about 7 percent last year.
Increase in Consumer/Education Social Learning Solutions
2008 was an interesting year that saw a myriad of new start-ups offering content through interesting new avenues. Social learning solutions like social homework help provided by Cramster; CampusBug, Grockit, TutorVista, EduFire, English Cafe, and the list goes on and on.
And it seems like Inc. is maybe just a little bit late as there are a bunch of startups going after online exam preparation and online tutoring. Some eLearning startups rouhgly in this space:
- Knewton focuses on test preparation online using test experts to help students study.
- TutorJam offers online tutoring programs for students in K-12, AP classes, and college.
- Brightstorm focuses on helping students prepare for AP tests, as well as standardized tests.
- Sums Online provides a wide range of math activities to help at home learners.
- DreamBox Learning is an education start-up that provides math games for kids. This was recently acquired by Netflix founder Reed Hastings.
- ProProfs – SAT and certification quizzes.
- PrepMe – personalized prep for SAT, ACT, PSAT.
- Tutor.com – online tutoring.
And there are a bunch more out there. As Inc. tells us – low barrier to entry. So we should expect lots more.