The education sector of any nation is central its overall productivity. The world is now extremely fast-paced and the need to acquire new knowledge and skills is always pertinent. These ever-evolving skills and knowledge enable you to stay relevant despite the ever-changing environment. This ever-evolving nature of the environment has also led to interesting changes in all things educational. Traditionally it used to predominantly be the reserve of government to establish education infrastructure but nowadays things have changed. Populations are booming and the demands of society given the varying economic and socio-political landscapes are escalating. This has given rise to private players entering the education space by offering a wide range of services. In this article we explore some of the top education business ideas that you can embark on.
Day Care Centre
Already we have highlighted that populations are booming so that’s one thing to bear in mind. Secondly, we have also alluded to how life is now fast-paced which again is another thing to bear in mind. If you take those two aspects together it comes as no surprise why a day care centre would a perfect fit as a business. Providing a place where young kids can be taken care of and nurtured during working hours will appeal to most people who lead busy lives. Approaches are varied but one of the most common ones is early childhood development (ECD). Some global surveys have discovered that the rate of growth in the day care centres domain is astronomical. This shows how potent the business is and thus you’re highly encouraged to start one.
Private College
Due to various factors such as bad governance, poor corporate governance amongst others some public schools no longer offer quality education. Those who can afford now prefer to enrol their children at private schools or colleges. This is because they usually provide much better education quality. Of course it’s common knowledge that most private colleges are expensive. This is mainly premised on the fact that such institutions cater financially for everything themselves. However, if you want to distinguish your private college you can make it small scale i.e. catering for a very small enrolment. This helps in ensuring that operating costs are less thus making it possible to price fees reasonably. In principle, if you can guarantee quality education and high pass rates your private college will become sought-after.
Driving School
There’s no question about how car populations are spiking the world over. We are also seeing a widespread requirement where most jobs require one to have a valid driver’s license. There are even whole business opportunities or job opportunities that only need one to have a driver’s license. This has resulted in scenarios where the demand for driving school services has shot up. Starting with just a car or two you can start a driving school and scale up as the business booms – which it will if you execute it well. There’s usually a tendency by driving schools to concentrate themselves in urban (central business districts) places mostly. You can sway from this trend and target people in peri-urban or even rural settings. Lots of money can be made from choosing possible niches that tend to be overlooked.
Tutoring
It’s remarkable how many people globally are making huge amounts of money from tutoring. You have the room to choose between virtual or physical tutoring; better still you can even combine both. There are people endowed with skills and expertise in various fields be it academic or industrial. Some of them even lament not being able to find employment yet they can consider tutoring. There are some who were once employed who even left their jobs to concentrate on tutoring full time. Teachers or lecturers in the academic field can also consider starting a tutoring business as a side hustle. Basically unemployed people or graduates can easily start this business because its crux is in you wielding unquestionable skills and knowledge in a particular field.
Student Accommodation
Student populations have been spiking over the years as more and more people enrol at tertiary institutions. Most institutions have come to a point where they can’t accommodate all the enrolled students. In most cases students have gone through dire straits in trying to secure affordable and conducive accommodation elsewhere. This means that there’s a huge demand for student accommodation in the tertiary education segment. The idea is to renovate an existing building or build a new one that’ll serve as accommodation for students. You can replicate the designs at tertiary institutions even adding more alluring features. Students will definitely prefer to stay at premises that are solely dedicated to people they can relate to i.e. other fellow students. If you setup this business you are guaranteed of having a steady inflow of revenue all year round.
Data Processing Services
From high schools to tertiary institutions there’s always need for printed material such as study material, assignments, projects, dissertations and so on. Services such as printing, scanning, photocopying, binding and other related ones are central to these. You can setup a business to provide such services to students and of course other types of customers. Locating the business in the central business district or close to academic institutions would be most ideal.
One of the things that’ll distinguish you in all these businesses is moving with the times. Leverage on emerging technologies and also digital marketing approaches. Structure the business in such a way that it can be easily scalable as the business grows and the operating environment changes.
