Online Learning Hub
Type: Consulting/Online.
Platforms like Teachable have made online teaching a worthwhile business with the potential of making money online from passive income each month.
You can create courses that teach almost anything you’re good at, including musical instruments, art, singing, cooking, mathematics, etc.
As of this writing, Teachable has over 18 million students. Can you imagine the number of people worldwide who would be interested in learning something you’ve got to offer?
You can present your course in the form of pre-recorded videos. Whenever a student enrolls and pays your fees, they instantly get access to your videos. You won’t need to spend any time actively teaching.
Teachable is a great place to start because the entire process has been streamlined. With just a few clicks, you can create a fully functioning online school with learning management, payment gateways, and sales & marketing tools.
Key Products for Sale
Online courses covering various subjects and skills
Technology Considerations
Online platform (e.g., Teachable), video recording/editing tools, A smartphone, and Access to the Internet.
Market for the Products
Worldwide audience interested in learning diverse skills.
Key Inputs into the Business
Subject matter expertise, instructional design skills, and video production tools – These are all readily available on the Play Store/App Store.
Product Preparation Process
Course content creation, video recording, editing, and uploading
Quality Considerations
High-quality video production, engaging course content
Cost of Investment
Low to moderate (for video recording equipment, marketing) – Video recording equipment as per Jumia roughly costs 2,999-8,999 KSH.
Required Operational Infrastructure
Computer, Mobile phone, video recording setup, internet connection
Most Suitable or Viable Location
Can operate from anywhere with a stable internet connection
Potential Sources of Investment Capital
Self-funding, crowdfunding, grants for educational initiatives
Requirements for Effective Management
Course planning, marketing strategy, student support
Role of Mobile Phone and ICT
Online learning platform access, communication with students
Statutory Regulations and Licenses
Compliance with online education regulations, and business registration.
Pricing
Tiered pricing based on course complexity, potentially a subscription-based model
Profitability
Based on the individual’s skills and research findings, the determined pricing for the services falls within the range of 20-30 dollars per hour, translating to 3,140 KSH per hour for individual students. This pricing structure is in accordance with market standards and is reflective of the value and expertise offered in the tailored online courses.