Is Online Teaching Really Profitable?
Βuilding, launching, and marketing an online course does take a considerable amount of upfront effort. But, its earning potential is through the roof.
It won’t always be easy. You’ll have to work hard and push through mistakes and failures along the way.
But don’t fall for the trap of “easy ways to make money online”.
There’s no such thing as an online get-rich-quick scheme. The hard truth is that the only ways to make money with online classrooms involve putting in real time, effort, and sweat.
However, I assure you, that once you put in the time and effort, you’ll be able to continue to sell your courses and make money for months and years.
What are the Types of Online Teaching Jobs?
Online teaching jobs are increasingly growing across all subject areas and grade levels across the elementary, middle, and high schools, higher education, and also in adult learning. Teachers instruct online students from around the country, as well as around the world, and include the following roles:
- College-level online teaching faculty
- K12 online teachers
- Adult education online teachers
- Online English teachers
- Online tutors
- Course developers
- Instructional designers
- Subject matter experts
In case you are considering to start teaching online you should know that online teaching opportunities take two forms:
- You can work part-time or full-time in an online education setting. There are job opportunities for a wide range of qualified educators, from elementary school teachers to college professors or professional educators on specialized subjects.
- You can create your own academy from scratch and start teaching and selling courses online in your own time and your own schedule. For example, if you’re already an expert in a topic through your current job or business, you can package your knowledge into a high-value course.
In both cases, you can help students learn at their own pace, via your online teaching company to ensure that the content you’re teaching is engaging and relevant to your students’ needs.
LearnWorlds is a top-notch online course platform that provides a top-class online environment packaged with powerful marketing tools to help you thrive in course selling. It provides you everything you need to teach online. You can:
- Create online courses.
- Create landing pages or a full website.
- Sell online courses (accept payments).
- Run a live webinar at your school to offer to coach.
- Provide certificates.
- Include quizzes/exams.
- Manage your students.
- Connect your favourite tools.
Get your fully social, engaging and interactive online school.
How to Teach Online & Earn Money
Working as a teacher for a company may require some qualification, like a bachelor’s or master’s degree, teaching experience, etc.
But, the remarkable thing here is that when creating your own school, it doesn’t matter what your expertise or teaching experience is.
If you think you can teach something that people want to learn more about, you can become an online instructor and start earning money by monetizing your skills and knowledge.
So, all you need is expertise in a niche subject, a computer/laptop/tablet and an internet connection, these are enough to start creating online courses!
- If you’ve built a successful career in a particular industry, there will be people trying to imitate you, and they’ll pay to learn what you know.
- If you are already being paid for something, there is a real chance that you have something to teach to others too!
- Many other people have done that too!
Start your online academy!
It is effortless to start creating your own online courses. With specific necessary steps, you can start your own Academy in no time! And here are six essential steps you must take to start a school from scratch:
- Choose your niche and check for demand (Use Google Trends, Google’s Keyword Planner, TextOptimizer and other essential blogging tools to do keyword research.)
- Start by seeing examples of other courses in your niche.
- Study thoroughly on your niche.
- Survey readers’ interest in your course and secure pre-orders.
- Decide on a particular subject in your niche that you want to teach.
- Design, write and edit the course material. You can always go back and update or revise based on feedback from your initial students.
- If you already run a blog, launch the course to your email list. Your own audience – no matter how small, is usually the best place to start.
- Find your niche partners, collaborators, and champions.
These are the necessary steps, but you can learn more about them in our extensive guide on how to create an online course.
At this point – I will be honest with you – it is better that you start a blog if you don’t have one yet.
How to Come up with a Course Subject
One thing is for sure… Whatever topic you’re an expert in, there will be people who want to learn. You can monetize your passion, whatever that is.
But, remember. People will only come to you if they find what you are offering is valuable and life-changing for their own personal or, more often, professional needs.
So then, your goal would be to encourage them to see your course as an opportunity for development, a journey of transformation upon which you are calling them to join.
Start by creating a list of what you know and are passionate enough to educate others about. It could be your language, something from your own educational background, work-related, or a favorite hobby.
Once you’ve chosen your subject and started planning and creating your lessons, you can find the right hosting platform and monetization methods.
Υou can choose to become a tutor for one or all of the following online course models.
- Skill/hobby training coursesFor example, you can teach english online, painting, singing, guitar, dancing, piano, cake baking, origami, etc.
- Standalone online courses
You can design standalone courses to teach on an independent vertical. For example, instead of covering up the whole big subject, you can focus on a dedicated topic that can be taught independently (see, for example, photoshop courses, excel skills, relationship advice etc).
- Comprehensive online courses
You can create courses to cover every related topic or lesson relevant to a particular module (website designing, software development, photography, digital marketing, data science, masterclasses etc).
For example, you might be interested in becoming an ESL teacher. ESL teachers work with English language learners, or those students for whom English is not their primary language.
They help them acquire fluency in English, both spoken and in the written word. Learning more about teaching english may offer you more opportunities for an online teaching career.
How Much Revenue can you Expect from an Online Course?
The potential income from selling courses online depends on several factors:
- The price of the course
Is it a 5$ or a $1000 course? This makes a huge difference in how many people you will need to reach out to sell your course.
- Your audience
The bigger, more engaged network, the more customers you can expect to get. If you are starting out right now, building an email list and a Youtube channel is the first step to your new online course business. Also, try to connect with your partners’ network on social media to gain access to a broader audience.
- Your marketing and sales experience
Have you done this before? If you already have an online business and have sold products previously, you are at an advantage and should expect a higher conversion rate from your audience.
- Your current customer loyalty
How loyal are your customers? Are they coming back for your new products or disappear? Do you have an engaged customer base?
The Ultimate Guide To Selling Online Courses (vol 1)
Discover how to make your online courses ready for sales and, most importantly, profitable.
In case you don’t have an audience yet, you can make some hypotheses based on how many people you expect to reach out. Will it be 100 or 200 or 1000 email subscribers?
Conversion rates for online courses depend on the subject, the price, and your capability to attract and sell to the right people. You can think of conversions as:
- Low conversions: 0.1% to 1%
- Medium conversions: 2-5%
- High conversions: 6-10%
To calculate conversion, use this equation:
Revenue = Number of your Audience x Conversion Rate x Price of the Course
You can run the calculation on all three conversion rates 1%, 5%, and 10% to see different scenarios and set your goals based on them.
Then, if you want to see if you are making a profit, you will need to subtract the expenses. Luckily, online courses do not cost anything per additional customer but might have production or marketing expenses.
Now, you can really calculate if your course can be profitable, how much work you need to do, and how much money you can make selling online courses!