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.
And it seems like there are lots of eLearning Startups that are taking aim at different aspects of the Business of Learning. My 12 eLearning Predictions for 2009 included
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.
4 comments:
You forgot about Student of Fortune.com where tutors are paid by content, not the hours worked (think ebay for homework). It's been around since 2005.
Most of the big test prep companies now have an online service, some of which they sell through the schools. My daughter's school has access to Peterson's Text Prep and my son used books with both interactive CD and online test feedback from Barron's and Princeton. So I agree with you, I think Inc. is a bit behind when it comes to the Exam Prep.
I have not seen, however, any of these online exam and tutoring developers using social networking tools, however, or customizing for specific groups (i.e. Series E prep for a Financial Services company who wants to update their employee skills or licenses).
Thank you for your sharing. those e-learning site are very useful.
Our school systems here in Canada have a lot to do to catch up to some of yours. Even though e-learning is something that anyone should be able to access from anywhere, I find that my children's schools are just starting to incorporate these new technologies. I had always wanted to become a tutorin order to assist those students whose families did not stress education. I did not grow up with all this new technology, and I have embraced it wholeheartedly. I only wish some school systems would do likewise. Thanks.
Peggy
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