online academy business plan

Online Course Business Plan Template - Thinkific

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• 7 steps to creating a business plan
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How to Start an Online School Business: 7 Simple Steps!

content creator

Sydney Mansaray See full bio →

Do you have training courses that you’re dying to share with the world? Or are you equipped with specialized knowledge to help other businesses train and develop their employees? Then look no further! In this article, we’re going to discuss at length how to start online school business in 7 simple steps!

Step 1: Create or Curate Content

Before you can even begin visualizing the infrastructure of your online school, you need to have content. During this initial step, it’s important to define what you’re going to teach your potential learners and for what purpose. This will help you choose the right kind of content. 

For example, it may be screencasts on how to use particular software, video lectures on certain psychological issues, or complete eLearning courses on sales skills with a conversation simulation and an interactive quiz. 

Are you going to transform your content into eLearning courses? There are many powerful eLearning authoring tools on the market that will help you get the job done. For example,  iSpring Suite  can help you create multimedia-rich courses with videos, tests, and interactions.

Check out the demo below for an example of what an engaging, interactive course looks like.

Step 2: Choose Your Business Model

Now that you’ve created your content and have all the puzzle pieces in front of you, it will be much easier to choose your business model. Your business model should be predicated on how much content you have and how much you plan to make. Fortunately, you only need to choose between two predominant models:

• Standalone (fixed price)
• Comprehensive academy (subscription-based)

The following table highlights the differences.

The standalone business model is great if you’re thinking of building singular, self-contained courses that are laser-focused on a specific subject or skill. This model is quite lucrative, as your learners simply pay an upfront fee that can easily range from four to six figures. Sites like Udemy or Skillshare are prime examples of the standalone model. The major downside of this model is that, since you’re creating in-depth, self-contained courses, branching out to multiple topics requires a complete content overhaul, which is not only costly but time-consuming. 

If you’d like to work around this limitation and learn how to start an online school that hosts a whole library of courses, it’s worth choosing a comprehensive academy model. In this case, your learners will be able to simply log into your learning platform and gain access to a wide variety of courses. Think Coursera, which hosts nearly 4000 courses, or LinkedIn Learning, which boasts over 5000 courses. 

For a weekly, monthly, or annual subscription fee, your users can create their own learning paths, as each new concept can be presented as micromodules. While this model is less lucrative in the short term, in the long term, the residual income will have a larger payout in the end as long as your learners feel like you’re providing value. 

So, which business model should you choose? All in all, the standalone model might be best if you’re creating tutorials or independent certificate courses. However, if you’re more interested in how to start an online school with a wide variety of courses and micromodules, then the comprehensive academy model is your best bet.  

Step 3: Choose an Online Course Platform

Now that you’ve developed your content and clarified your business strategy, it will be much easier to narrow down which online course platform is right for you. You need to consider factors such as how much customization it accommodates. How much control do you want over your content, pricing, or payment methods? How much time and thought do you want to invest in designing your storefront?

If you’re new to the online school business, the ideal platform combines simplicity with high functionality.  iSpring Market  is a thorough solution that is feature-rich yet demands no programming skills. You can easily upload and sell full-fledged interactive courses with quizzes, videos, dialogue simulations, certifications, and much more.

Also read: The 14 Best Online Learning Platforms

In the rest of this article, we’ll show you how to create an online school using iSpring Market. It will help if you follow along. Sign up for a  free trial  to get started.

Step 4: Create Your Store (Marketplace)

iSpring Market provides the structure of your online school as well as a comprehensive selling platform. The first step is enabling e-commerce and setting up your marketplace. 

As soon as you log in, you’ll enter the  Dashboard . In the left margin, click  Settings .

On the next page, you’ll see tabs. Click on  Additional Options  →  E-Commerce , and select the checkbox for  Enable E-Commerce .

Once you’ve selected the checkbox, a dropdown of payment options appears. iSpring Market provides you with the flexibility of three different methods – PayPal, Authorize.Net, and Stripe. Fill in the required fields and specify the currency.

At the very bottom of the page, under  Notifications , you also have the option of notifying administrators when payments are made. Be sure to click  Save  in the top-right to proceed to the next step, creating your storefront.  

After clicking Save, a link to set up your  Marketplace  will appear at the bottom of the left margin.

Here, you can find a list of all the courses that you’ve uploaded and added to the  Marketplace  (we’ll go into this in more detail later). You can also create categories to organize all your content, incentivize your customers with coupons and discounts, and customize your greeting for prospective buyers who land on your page.

Note:  Once you get any of the paid plans, your storefront will automatically be featured on high-traffic search engines like Google and Bing. This means you’ll be able to generate organic traffic and maximize your exposure and prospective learners over time.

The next step is customizing your storefront. Of course, you can always do this after you’ve uploaded your content (the next step). However, if you’re already set with branding, this is the next logical step. Go back to  Settings  (left margin) and click the  Branding  tab near the top of the page.

You can add a file, link to a course hosted elsewhere, or add an assignment. Fill in the fields such as the course title, description, and any tags to help you organize your content. As your library of online courses grows, it will become especially important to keep them organized, not only for you and your admins but for prospective customers to easily find what they’re looking for. 

You can create new folders with relevant titles by clicking on the  New Folder  button.

Once your course is uploaded, click on it and under the  Details  tab, specify the  Main Properties  of the course, such as the title, description, and duration.

Under the  Settings  tab, you can also set your viewing restrictions – such as limiting the number of attempts to launch the course and the start and final time/date that the content can be displayed.

iSpring Market also offers gamification features to incentivize your learners. Enable gamification to award points, badges, and ratings upon completion of a course or based on how many points earned.

Once you’re in your learning path properties, fill in the details under the  Details  tab, just as you did when uploading the content.

Next to the Details tab, click  Outline  and begin outlining your chapters (or course modules), filling them out with your course content. In this case, each “course” you upload becomes a lesson within a module or chapter of your course.

Once you’ve filled in the details for your course chapter or module,  Save Changes  and add the respective content to the chapter. 

Now, under the  Settings  tab, you can further specify completion dates and settings for each chapter. 

• Would you like your learners to complete a chapter by a certain due date? How about the whole course?
• Do you want them to complete the chapters “sequentially” or in “optional” order?
• Do they need to “complete all chapters” to pass the course or only a “specified” number of chapters?

Now that you’ve uploaded and set all the necessary parameters for your courses, it’s time to begin selling them. 

Step 6: Sell Your Courses

To put your courses on the market and begin selling them, you first need to add them to the marketplace. In the  E-Commerce  tab, click the checkbox that says Add this content item to the marketplace .

After clicking the checkbox, a dropdown menu will appear asking you to specify the category of offerings that your course belongs to. Choose the appropriate category, then specify that your course is Paid content  by clicking the toggle button and specifying the price.

Congratulations! Now, your course is officially available for sale on the market. It’s as simple as a few intuitive clicks.

Note:  You can also offer some of your courses as a “free gift” to incentivize your customers. Just leave the toggle button as it is.

Step 7: Monitor Analytics 

Your course hitting the market is a huge milestone, but your work doesn’t stop there. Like any business, an online school needs to streamline its processes and enhance its offerings by analyzing its user and e-commerce statistics. With iSpring Market, you can generate:

• Quiz, simulation, and assignment reports
• People reports
• Content reports
• E-commerce reports
• Learning path reports

Content creator

Sydney Mansaray

Sydney is an Instructional Designer with over 8 years of experience developing online courses and training programs for companies and educational institutions. Her focus is designing engaging learning experiences that marry storytelling with technology.

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How To Build An Elearning Business In 2024: Six Approaches That Work

he global school shutdown caused by the covid-19 outbreak has offered a chance for e-learning companies to reach approximately 1.37 billion students. The desire to learn and the need to supplement limited access to educational institutions have led to a boom in the eLearning industry. The e-learning industry is projected to grow at a CAGR of 20 percent to reach $315 billion by 2028.

Thus, now is an excellent time to start your own e-learning or training business, given the worldwide demand for online and distance learning. However, implementing an e-learning business plan is no easy feat. The key to achieving success is to try things no one else has. Consider  Cathy More  and her ilk as an example. Cathy is a well-known training pioneer who has made it her mission to rid the world of boring education. Companies such as Microsoft, Pfizer, the US Army, Barclays, and the US Department of the Interior have all used Cathy's designs. 😎 

Don't be disheartened that the key players have already taken their places at the table, and you're just getting started. At least, this is why we are here to teach you how to fly.  EducateMe  outlines the fundamental but essential steps to create an e learning business in this article. Want to follow in Cathy's footsteps or perhaps join the ranks of successful e-learning companies? Buckle up and enjoy the ride as we reveal the inside scoop. 

In six steps, the following summarizes how to start an e-learning business.

1️⃣ Define your audience

2️⃣ Establish a core content

3️⃣ Choose an LMS

4️⃣ Launch your courses

5️⃣ Promote your company 

Ready to learn? Let's go! 🚀

What Is an E-learning Business? 

Too frequently, learning and  online learning  are confused with one another. Before defining an e-learning business model, it is necessary to clarify what falls within and outside the learning scope.

E-learning, often known as "virtual learning," primarily refers to an internet-based form of education. The instructor and students do not meet in person. All coursework and contact are conducted through email, message boards, chat, or video conferencing. Some schools refer to this course format as "fully online."

• Out of scope

The bulk of the coursework will be completed online through forums, shared papers, email, chat, and so on. However, this does not mean that students and teachers have no face-to-face contact. Coursework may be completed in a classroom or remotely, so long as most discussion takes place online. Online learning falls under this category.

So what Do Elearning Startups Do? 🤔

You need an e learning business if you want to effectively educate people in a specific field or teach them new skills while maximizing your resources and increasing your revenue. Consequently, learning startups refer to platforms used by instructors to administer online courses or impart curriculum-aligned learning experiences. eLearning programs may contain videos, quizzes, simulations, games, activities, and other interactive elements. Additionally, students could view a recorded lecture or attend a live lecture.

Types of eLearning Business Models

There are three primary business models for e-learning that instructors may implement. 

✅ Night School Model

The term "night school model" was coined to describe community colleges' vocational and evening courses. The majority of eLearning companies follow the model of conventional night schools. In this tried-and-true arrangement, students pay a one-time fee for curriculum access. This business model provides courses with predetermined learning modules, assessments, quizzes, and examinations that adhere to a specific structure. 

✅ The Academy Model 

The Academy eLearning model is comparable to a cyberspace membership or subscription service. Students are granted access to all content, including live classes and courses, for a monthly fee. As their expertise grows, students have a greater say in what and when they study. The business model of the academy provides students with a plethora of study materials, including courses, videos, and other media, from which they can learn and develop in various domains. 

✅ The Combined Model 

The "combined" model is a hybrid of the night school and academy models, intending to increase income. Here, the academy model is the primary offering, while the night school strategy is an optional extra. In addition to subscription-based services, this model offers both a "buy once, use forever" option and individual courses.

Who Needs an Elearning Business? 🤷‍♂️ 

Launching an e-learning startup is just one aspect of the process, but before you start, you'll need to determine if it's a good fit for you. 

Course Designers 🖼 

Online course developers are those who make courses available to students online. Packaging your expertise into an eLearning course may supplement your income or start a new one. Using an eLearning business model, you may differentiate yourself from the competition by deciding to develop courses that feature your comprehensive knowledge and skills.

Online teachers 🧑‍🏫 

Starting an online learning business requires excellent communication and teaching skills, a stable computer, and knowledge of the subject area being taught. Your responsibilities as a remote tutor may change based on the kind of eLearning company you run, the grade level you instruct, and your student's age and learning needs.

Training Camps ⛺️ 

The eLearning industry presents an opportunity for boot camp planners to integrate their events. The first guideline for managing a successful boot camp is removing students from their normal environments. Corporate learners can now interact with distant colleagues and facilitators via the eLearning industry, broadening their access to education and training opportunities.

Is Elearning a Profitable Business and Why Launch One? 

The importance of the eLearning industry has grown as the educational landscape has shifted away from classroom-based instruction to online courses. An e-learning company facilitates digital interaction between educators and their students. Several important factors are contributing to the increase in interest and participation. Listed below are the most important ones.

Start Your eLearning Academy with Confidence - Try Our Guide Today!

Feeling uncertain about building your eLearning academy? Our guide can help you start with confidence

The COVID-19 Pandemic has Irrevocably Altered the Future of Education, with Elearning at the Forefront of the Revolution

According to Technavio's most recent market analysis, the e-learning market's potential growth gap is  expected to increase by USD 1.72 trillion between 2021 and 2026 . The report finds that the market is expected to expand at a CAGR of 16.35% over the predicted time frame. The e-learning market's growth is largely fueled by improved learning in the academic sector. 

COVID-19 boosted e-learning revenue. In response to rising employee safety concerns, companies are adopting work-from-home policies. This hinders companies' training, communication, progress monitoring, and upskilling, fueling demand for e-learning platforms among large corporations and SMEs. 

Corporates Are Investing Heavily in R&D for Their Clientele, and Employees

Between 2022 and 2028, the service providers industry is anticipated to grow at a rate of 30% due to the increasing emphasis on portfolio expansion among Indian businesses. The rapid spread of coronavirus necessitated the closure of schools and universities, necessitating the development of online alternatives for reinstatement of regular classes. Terms such as social and  collaborative learning are becoming commonplace in fast-advancing companies. Businesses invest more money in research and development to provide new products and services to satisfy consumer demand. 

The North American Government Is Improving Its Telecom and IT infrastructures 

Increases in telecom and IT infrastructure investment, scalability of resources, and greater access to university courses have all contributed to the expansion of the eLearning industry, as have service providers' substantial According to the International Telecommunication Union, the number of internet users will increase from 4.1 billion this year to nearly 5.3 billion in 2022. (ITU). The development of the industry is being driven by the growing number of people with Internet access. As the telecommunications and broadband industries have expanded, so has the availability of inexpensive Internet connection options. 

Higher Education Now Prioritizes Scalable Resources and Expanded Course Availability

In addition, there is a great deal of encouragement to launch an eLearning company because the demand for online learning materials currently exceeds the supply, resulting in a substantial increase in the earnings potential of market participants.

What Is ROI in Elearning?

Using an economic formula known as elearning return on investment (ROI), 💰 one can calculate the financial benefits of offering online training courses or operating an eLearning business. For an eLearning project to be successful, its benefits must exceed its expenses. A calculation of return on investment justifies the investment in training by comparing the costs of development and delivery to the value or benefits realized. 

The owner of an eLearning company is understandably curious as to whether or not their online training program produced the desired outcomes, whether or not their trainees found it useful, and whether or not their company's bottom line has increased significantly. In essence, eLearning ROI is an essential performance metric for determining whether or not your eLearning organization is optimizing its financial resources.

How Do You Measure Elearning Business ROI?

When starting an e-learning business, the ROI estimate is essential. Measuring ROI enables a business to determine the success of a campaign and establish benchmarks for future campaigns. For instance, after establishing an e-learning startup, you could use ROI measurement to determine when something fails, allowing you to swiftly reevaluate or re-shape your offerings and avoid wasting time and money on something that isn't working.

Traditional Elearning ROI Calculation

ROI is frequently calculated by dividing the profit from an investment by the amount invested. The ROI of your eLearning company can be determined by comparing the cost of creating and delivering training programs to the results they produce. To determine the average eLearning ROI, simply divide the amount of money your company made due to the program by its implementation cost. You can calculate your return on investment as a percentage using this formula by multiplying the result by 100. To declare your effort a success, you must show that the benefits and value of your program outweigh the costs.

Kirkpatrick's Four Tiers Evaluation

Donald Kirkpatrick's 4-level model, which considers learner feedback, the impact on the business, and the return on investment, is the most widely used technique for determining training effectiveness. 

• The first level or stage is known as "Reaction." Students' responses to surveys and comments reveal what should be improved and whether the material was useful. 
• Each participant's learning level will determine how much they take away from experience. It assesses how well the learner is progressing toward their objectives, whether the training objectives are being met, and whether there are knowledge gaps that can be filled by modifying the course content. 
• Upon completion of a course, instructors can determine whether their students' behavior has changed and whether the skills and knowledge they gained have been applied by observing their behavior levels. 
• The effectiveness of training is determined by calculating its impact or influence on the trainees' outcomes. Productivity gains are a common indicator of success. 
• In Kirkpatrick's assessment methodology, Level 5 is the transition between the first four stages and the final step in calculating ROI for online education. The ROI of online learning can be calculated by comparing the cost of the training to the benefits it offers.

Through an LMS (the most practical method)

A learning management system (LMS) is essential software for your e-learning business. It enables you to host training and provides multiple options for collecting training data and generating reports on the fly. Using your cloud-based learning management system (LMS), students can access course materials anytime and from any location. Your learning business's return on investment (ROI) may not rack up immediately. However, your business will begin to generate a return on investment once you replace traditional training with an LMS.

How to Build an Elearning Business in 6 Steps

There are two possible routes for launching an e-learning business. The first is to create a website or mobile application to promote your business, and the second is to use an LMS to aggregate or sell courses. Custom websites and applications are an excellent concept, but they require a substantial investment and technical expertise to develop and maintain. In contrast, LMS implementation requires fewer resources and no technical knowledge. Consequently, instructors utilize LMS more frequently.

If you prefer the LMS route, the following is a 6-step guide on how to start e learning business models.

Step #1. Define Your Audience

Market research is required to determine who you should target. To narrow down your target audience, ask yourself questions like: 

• Who is my target audience? 
• What age range should I shoot for? 
• What are their annoyances or pain points? 
• What kinds of courses do they want to take? 

With the answers to these questions, you can tailor your course material to the needs of your audience.

Step #2. Determine Your Core Content

If you want to launch an e-learning startup, you should prioritize long-term value and attract prospective new learners, and keep your current customers. A list of the core skills students want to learn is extremely beneficial. Based on this data, you can decide what to focus on creating and who you're attempting to reach. Furthermore, you may complete more than one critical piece of content with different subsets of your target audience. 

Step #3. Select an LMS

When it comes to launching your eLearning business, you have some options. However, to provide students with engaging online course material, we recommend using a platform with an open-source LMS. You can customize an open-source platform to meet your specific needs. 

Step #4. Make Your Courses Available

It's a good idea to create some sample lessons and courses that cover the main features of your platform before launching it. To see high rates of early acceptance and positive feedback, ensure your material is high quality and provides value to the learner. Your students' reactions to these initial practical exercises will determine the long-term success of your eLearning platform. 

Step #5. Decide on a Price 

Every e learning business must make a profit, and detailed course pricing is one way to do so. It would help if you struck a balance between charging too little and failing to make enough to cover your expenses and charging too much and failing to attract any students. You could conduct a market study and compare the prices of similar classes on competing websites. Establishing a market presence frequently entails undercutting competitors' prices or offering discount deals. 

Step #6. Market Your Elearning Business

You won't be able to succeed without solid marketing, no matter how strong your platform is. You'll need to actively promote your business through marketing, social media, and other channels to stand out among the hundreds of eLearning platforms. 

Elearning Startups Founders' Lessons

Here are some pearls of wisdom from early learning entrepreneurs. We didn't name them but picked up their most important messages.

👉 Lesson 1. It's All about being in the Audience!

The learners are now the mainstay of education. This trend is further supported by concepts such as  cohort-based learning . As an instructor, you must capture your students' attention and reassure them that they are not alone in their struggles. When starting an eLearning company, focus your efforts on the target audience. When users feel like they belong on your eLearning platform, they have an emotional investment, which motivates them to tell their classmates about it. 

👉 Lesson 2. You Can't Ignore the Technical Sides

Technical considerations and project technology execution are equally important to the instructional component of the project. You must understand the fundamental guidelines for evaluating your eLearning business software. 

👉 Lesson 3. Do Everything You Can (Mistakes Too)

You can save money in the early stages of a project by doing as much of the work as possible on your own. Your future failures will not negate the valuable lessons you've already learned. 

👉 Lesson 4. Adopt Industry Best Practices to Increase Your Demand

The goal of online education is to make learning enjoyable and beneficial. Best practices in the industry may be used to increase sales in this manner. Suppose you want your students to be able to see how they're doing and receive feedback on how they can improve. In that case, one option is to use an artificial intelligence-powered ePortfolio module. Games can help to foster student competition.

Create an E-learning Startup on EducateMe 🔥 

Beginning an eLearning business may not be the simplest endeavor. But with an all-inclusive and feature-rich LMS like EducateMe, you can streamline the process.EducateMe is a platform that enables instructors to offer live courses, foster engagements between mentors and their students, and offer performance analytics.

Project-Based Learning: Top Examples, Benefits & Ideas

10 Best Cloud-Based Learning Management Systems [2024]

10 Best Training Management Software for 2024

Create and scale collaborative courses

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The 2023 Guide to Running an Online Academy

If you run a consulting business, you know how difficult it can be to set the stage to enable and support scalability of your company. However, using an online academy to turn your service business into a product-based business can solve this problem.  

If you’re considering taking your expertise from offline to online and joining  the SaaS world  there are a few things you should know in order to maximize your success.  

In this guide, we’ll let you in on all the important aspects of running an online knowledge business. So, sit back and relax as we take you through the different pricing strategies, distribution choices, and content management opportunities you have with an online academy.  

How to decide on a pricing strategy for your online academy 

Online or offline business, finding the right pricing strategy is always crucial. And  how you charge is just as important as how much you charge . Yet, figuring either out isn’t easy.  

Different ways to set the price

The original way to charge is to just add an additional cost on top of how much it costs to provide your service. This is called  cost-plus pricing  but is almost never seen in the services realm. That is because if you want to increase your spend on a marketing channel or make a new hire, your costs are bound to continually increase, and it’s hard to tune your pricing proportionally along with it.  

Competitor-based pricing  is another way to get a ballpark figure of what your product should be priced. Yet, basing your pricing on another company’s strategy doesn’t give you a good understanding of which customer segment you’re selling to and how much they’re willing to pay for the value you offer. And without this knowledge, it’s terribly difficult to develop a foolproof product and pricing vision. 

But then there’s the pricing strategy that almost every SaaS pricing connoisseur swears by:  value-based pricing .  

[Value-based pricing] could easily be called “Customer-Based Pricing” because that is effectively what it is. Instead of looking inwardly at your own company, or laterally towards your competitors, with value-based pricing you look outward. Patrick Campbell of  Price Intelligently  

Keep your pricing simple and easy for customers to understand without them having to refresh their mathematical skills. Simply align your pricing with the value that your customer receives, and make sure to pick a value metric that scales with customers’ usage of your product. This should ensure that your pricing can and will follow when your business scales.  

Our favorite pricing strategy

Of course, these aren’t the only pricing strategies that exist. There are dozens of pricing strategies that can help you set the right price for your audience and revenue goals.  

If we were to mention just one more pricing strategy it should be  the freemium pricing strategy . A favorite of ours – especially when you’re moving from offline to online business.  

Freemium is coined by the words “free” and “premium”. It’s the first part of the word that lures in users. This strategy is simply built on the idea of attracting users, letting them try your product, and giving them enough reason to stay while at the same time leveraging your product’s viral nature to get the word out. 

To know more about how you can make the freemium strategy work for your business  click here .  

We know how pricing can seem overwhelming. But it’s important to dedicate some time to this matter and explore all options  before settling on a strategy. 

How to create content for your online academy 

An online academy is all about content. So, having a clear plan for content production and management is key to the success of your SaaS adventure.  

Therefore, before investing in an online academy you should ask yourself these three questions:  

• Who will be in charge of content creation?  
• How much money can we set aside for content production and management in our budget? 
• Where will we store our content?  

Question 1: Content creation  

The number one mistake we see our customers make is not being ready to make use of their academy immediately when they get it.  

If they have content, it takes them a long time to upload it to their online academy. And if they don’t have any content readily available for uploading, it takes them a while to produce it.  

Transforming your analog materials to digital content  

If you have content, it’s maybe in the form of thick ring binders or power point presentations or maybe even CDs or DVDs. Regardless of the format, you simply must digitize it and upload it to your online academy. But make sure you have a plan, because otherwise the process will be cumbersome if not chaotic even. 

Start with the materials that are easiest to digitize. That could be text-based courses. They don’t demand much finessing as you’ll just be typing in words or numbers. Next up are the materials that need a little more processing such as video or audio files. For this kind of materials, you need to look into more technical stuff like resolution, sizing, sound quality and maybe even subtitles. Lastly, you can focus on quizzes. These too demand a bit more attention since you’ll need to work out a point or grading system.   

You of course can’t transform all your content at the same time, so plan accordingly. What is your most important or popular content? And what content don’t you use that often?  

Planning is essential for a smooth transition.  

Content creation in the long run  

The sooner you deploy your academy, the quicker you’ll be able to grow your audience and scale your business. Yet, you not only need a starting plan. You also need to consider how you’ll deal with content creation in the long run.  

To continuously have updated and relevant content for your academy you can in general take three different approaches:  

• Create all content in-house  
• Employ an external content creator  
• Buy and utilize ready-to-sell content  

With Cursum’s customizable e-learning platform, you can create content directly within your academy. Simply upload and organize all your learning content directly to our responsive course builder. Since you don’t need any third-party creator tools, all the above approaches are appropriate.  

In-house content creation

The best content provides relevant and up-to-date information, and to produce this usually requires subject matter expertise. An in-house content creator might be an expert themselves, but if not, they always have access to domain experts within your company. This enables among other things more in-depth and high-quality content, and it also permits a quicker production time so that you can have a faster response time to changing content needs.  

External content creation

An external content creator on the other hand is great if you don’t have the resources to employ an in-house content creator. When outsourcing content creation, you gain more flexibility. Depending on your needs you have the option to change content creators and exploit different talents. Some creators are amazing with video while others are champions within audio. Whatever field or industry you’re in, you’re likely to find a learning expert whose knowledge you can avail yourself of.  

Ready-to-sell content

The last option is to buy and utilize ready-to-sell content from any outside source. Utilizing ready-made content holds some of the same benefits as working with an external content creator does. Yet, relying on already existing content ensures that you know what you get. For example,  Fellowmind Denmark  provides  a Microsoft Office 365 course package  either through their learning portal or for customers to implement and use via their private learning portal.  

Regardless of the approach you choose, Cursum’s academy solution makes it easy for you (or your content creator) to build personalized course catalogues utilizing any file format including audio, video, quiz, and plain text. Furthermore, our multitude of add-on modules has been developed to make your course building more powerful. Use for example our Azure Media Services module to encode, store, and stream video and audio at scale. Or apply our Kudo Shop module to give your employees a place to spend their hard-earned kudo points. The possibilities are endless.  

Question 2: Content budget    

Before you make any decisions about content creation you of course must consider what your budget allows for.  

Content production is usually not a one-time process. In most cases, content needs to be maintained and updated on a regular basis. It is therefore utmost important that you take into account the running costs related hereto when compiling your budget.  

Also, note that the costs of content production and maintenance differ widely depending on whether you choose the DIY method or seek professional help.  

It’s not only about finding an approach to content production that fits your wants and needs, but the approach should also fit your budget.  

Question 3: Content storage  

Finally, you should think about how you’ll store your content.  

Seeing that you can create your content directly in our e-learning platform you in fact don’t need any third-party content creation or storage tools.  

That is because Cursum doesn’t only provide a simple Learning Management System (LMS) but also offers a more advanced Learning Content Management System (LCMS).  

As an example, one of our clients,  the Norwegian Police , have decided to ditch all other tools and now solely use our platform for their content production and storage.   

Yet, if you prefer to store your learning materials elsewhere that is also possible. For example, some businesses wish to use a third-party content storage solution for greater control. In that case, our system supports all common e-learning standards such as SCORM, xAPI, CMI, and LTI.  

When it comes to e-learning standards, you’ll need to make a call on which one best supports the goals of you and your business. In order to make an informed choice, you should take into consideration things like delivery format, whether tracking is required and to what degree, and how the course will be consumed.  

How to distribute your knowledge with an online academy   

Great content is a waste if your audience doesn’t know it exists.  

Distributing your content is a vital part – if not the most important part – of running your online academy.  

Content distribution is the process of sharing, publishing, and promoting your content. It’s about how you deliver your content to your audience members for their consumption through different channels and media formats.  

Since you move your business from offline to online with an online academy, you of course get more than one distribution channel to choose from.  

With Cursum you can choose to use your online academy as your sole distribution channel. However, you can also choose one of the following distribution options or combine several to build a strategy that suits your needs:  

• Create a white label custom app within Microsoft Teams  
• Build a published app for Microsoft Teams and market it through  Microsoft AppSource  
• Have us develop your private app for IOS and Android  

Regardless of the distribution strategy you choose, the process of distribution happens  after  you have created your content.  

Yet, it’s important that you plan where and how you’ll be publishing your content  before  creating it. If not, your time and resources could easily go to waste.  

Choosing the right distribution strategy  

Digital technologies play a prominent role in shaping up and regulating the standards of everything we do.  

Throughout the COVID-19 pandemic, communication and collaboration platforms such as  Microsoft Teams ,  Zoom , and  Google Meet  gained much importance as organizations moved their activities to a virtual environment.  

Working from home has not only popularized digital platforms of all sorts. The convenience of having everything you need only a click away has made many of us resort to digital opportunities whenever possible.  

Therefore, putting knowledge at the fingertips of your users with an app isn’t such a bad idea.  

Which app you need completely depends on who’ll be using it and for what purpose.  

Below we’ll take you through the different options you have with Cursum.  

A custom app within Microsoft Teams 

At Cursum we’re determined to provide the best availability of and access to our powerful digital platform.  

Being an  Independent Software Vendor (ISV) partner of Microsoft , we’ve enabled our customers to easily create their own white-label app within Microsoft Teams.  

If you’re targeting businesses who already utilize Microsoft Teams, a custom app within this communication and collaboration platform is a great distribution channel for you.  

All you must do is create your own white label learning app in Microsoft Teams. You have multiple options for customizing the app’s interface, so you can make it fit your brand’s look and feel. Once you’ve created your app, you download it as a zip file and distribute it internally within any organization. All the organization must do is upload it to their Microsoft Teams Account and employees can log in with their single sign-on access code.   

This distribution channel fosters a more intuitive and less disruptive learning experience. There’s no need for a secondary platform or software. And considering your target audience use Microsoft Teams already, they undoubtedly view this channel as a trusted and secure tool. Giving employees access to your expertise in the flow of their daily work makes learning and development an easy and integrated task.    

A published app for Microsoft Teams 

If you’re aiming for a broader target audience, creating a published app for Microsoft Team is a great alternative.  

Unlike the custom app, a published app is publicly available for download in Microsoft Teams’ AppSource  – the marketplace for apps made specifically for this platform.  

Microsoft’s commercial marketplace contains more than 30,000 published apps and serves more than four million active shoppers every month. Today this marketplace is the world’s most comprehensive B2B commercial arena. This will not only introduce your product to more potential customers, but it will also give you access to joint go-to-market activities with Microsoft. All something that will enable you to establish more connections, get referrals, and potentially generate more leads.  

A published app works as a centralized knowledge-sharing platform containing all your expertise. With the published app, you have all the same customization options as with the custom app. However, you can also display your own logo to create a stronger brand.  

We’re of course here to assist you from pre-submission to store submission by helping you complete all the necessary steps and procedures to ensure a successful listing process.  

One of the benefits of choosing the published app distribution method is that you can fully exploit the freemium pricing strategy. Giving your target audience a sneak peek of your product is a great way to do lead generation and find new sales channels supporting your online academy.  

IOS and Android apps  

If your target audience prefer to have an isolated point of access to your expertise, let us help you build your own app to use for distributing your learning materials.  

We’ll handle the app development process from start to finish – you don’t have to lift a finger.  

The app can be created exclusively for Apple App Store, Google Play, or both marketplaces. Furthermore, the app’s interface can be customized to fit your brand as well as it can display your business’ logo.  

This distribution strategy is perfect if you’re for example catering to a target audience that aren’t stationed at their desk or computer all day such as many blue-collar workers. With an exclusive app containing all your expertise on their phone or tablet, they can use it whenever and wherever they want.  

A dedicated app promotes one of the most accessible and flexible learning experiences.  

What to do now   

Now you know everything there is to know about establishing and running an online academy.  

Moving your business from offline to online won’t only make it easier, cheaper, and faster for you to manage and distribute your expertise. With an online academy, it’ll also be easier for you to protect your business. That is because transforming your service to a product means you’ll be able to claim it as  intellectual property .   

Also, we shouldn’t forget that the  global e-learning market  is projected to reach $325 billion in 2025. That of course is of no surprise when you consider the billowing call for  digital transformation  seen across almost every industry the last couple of years.  

Investing in your own online academy will not only tap right into this trend and give you a strong competitive edge. It will also futureproof your business.  

So, whether you just want an online product to complement your offline business or you’re ready to go 100 % digital, feel confident that you’ve got the most flexible technology to support you with Cursum.    

We believe that your expertise deserves only the best living conditions. If you do too, book a demo today.  

Ready to get your own digital learning platform?

Secure your free demo today, wait, we have more blog posts, gamification in online learning: how to engage your course participants, how to go from your first online course to a full-fledged online academy, 5 steps to creating successful online learning, physical learning vs. online learning: which one is better, what is an lms and when can you use it.

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8 Steps to Launching an Online Learning Academy Your Customers Will Love

Updated: October 03, 2022

Published: September 06, 2022

73% of people say customer experience impacts their purchasing decisions .

Which means, nowadays, companies are looking for fresh ways to keep their customers happy.

Many companies are doing this by launching customer education programs  and online learning academies that give their customers access to resources, blog posts, webinars, knowledge centers, and certification courses that help them learn about their product, troubleshoot problems, and ultimately realize product value.

The HubSpot Academy  is an excellent example of this. Launched in 2012 as a way to help its customers learn and apply new marketing skills to grow their business, The HubSpot Academy has evolved into the go-to destination for hundreds of thousands of people looking to improve their skills related to inbound marketing, sales, and customer service/support.  

Among other things, a strong learning academy can help you provide helpful resources to your customers, increase customer retention, engage with new prospects, and build domain authority. 

From the outside looking in, creating an online learning academy on this scale may seem intimidating, if not impossible. But launching one isn't as out of reach as you might think. Let’s walk through the necessary steps to launch an online learning academy your customers will love.

How to Launch a Successful Online Academy in 8 Steps

1. set a specific goal..

When you're starting your online-learning journey, it can be easy to get lost in the possibilities.

For instance, maybe you want to help your Customer Success (CS) team speed up onboarding.

You also want to reduce the number of support tickets and issues for your Customer Services team. And you want to increase product adoption for your Product team.

And  you want to boost lifetime value (LTV) for your Leadership team.

All of these outcomes are possible with an online learning academy, but at this point in your journey, pick one.  

To help you decide, identify your ideal learner persona and their biggest challenge. Ask yourself:

• Are you struggling to get them using a new feature?
• Does engagement decline after onboarding?
• Are your Customer Success Managers (CSMs) overwhelmed by support tickets and requests?

Figure out what's pressing right now and start there.

Then, solve that challenge, prove the value to internal stakeholders, especially your leadership team, and start solving more company and customer challenges.

2. Build your team.

One could argue that building a team should come before you set your goals, or at least in tandem with it, but for the sake of this article, I put it here — look at goal setting and team building as steps 1a and 1b.

Just like you don't want to spread your resources too thin by setting too many goals at the beginning, don't bring too many cooks into the kitchen.

Instead, have one person lead the charge who's passionate about online learning and aligned with your goal.

Building Your Team

• Subject Matter Expert (SME): The SME understands your customers, their challenges and what they'll need from the content to realize product value.  
• Instructional Designer (ID): The ID is someone who has design expertise and training in developing content to achieve specific learning outcomes.
• Technical Expert : The technical expert ensures that the learning management system (LMS) or other learning technology works properly, including integrations and data collection. They can also lead the changeover from legacy learning technology.
• Executive Sponsor: An executive sponsor ensures you have a line of sight into the boardroom and maintain alignment. An executive sponsor is a "must-have" for even the newest teams.

In a perfect world, you'd build a cross-functional team that has all of these roles filled.

In reality, that's probably not going to happen at this point.

So, if you're embarking on this adventure, know that you don't   need a formal team to get started. You only need someone passionate about learning, some content, and customers excited to learn.

3. Consider an LMS.

Most, if not all, established online learning academies ride on the back of an LMS due to their ability to help teams create, manage, deliver, track and optimize content at scale.

Consider this scenario: You're using blog posts, videos, quizzes and certifications to train 150 customers — but you're not using an LMS.

In turn, CSMs, Support, and Service teams pull the necessary levers manually to keep customers happy and realizing value. For instance, they might need to send onboarding documentation when a new customer signs the dotted line.

For newer companies dipping their toes into online learning, these teams might be able to keep pace with this demand without sacrificing the white-glove service customers demand.  

That said, as the product evolves, and the customer base grows, content creation accelerates and customer demands will intensify, making it harder for your team's to keep up manually.  

An LMS automates these tedious and time-consuming tasks and ensures you're providing the best learning experience without drowning your Service and Support teams.

With an always-on learning academy, you also allow your customers to learn whenever and wherever they want. Not only does this make sense for a remote world, but it reduces the strain on your teams by giving customers the chance to solve their own problems without submitting a ticket or emailing their CSM.

Pro Tip: When you’re looking for an LMS, prioritize mobile-friendliness and cloud-based software. With a mobile LMS, you can deliver flexible and accessible learning to the devices your customers actively use . A cloud-based LMS allows you to scale and localize content without disrupting the learning experience.

4. Create content.

When you’re just getting into online learning and ready to start creating content, you’ll fall into one of two groups:

• Group #1: You have content (a lot or a little)
• Group #2: You don’t have content

If you're in the first group, major props — your launch date just got closer. The only step you'll want to take now is to make sure the content aligns with your persona and achieves the right outcome (e.g., helps your customers activate their account or use an advanced feature).

If you're in the second group, I still give you props — you just have a little more work to do. Luckily, content creation isn't as complex or laborious as you'd think.

If starting from scratch, be strategic and ask yourself what you absolutely need to get your minimum viable product (MVP) off the ground.

Then, outline that content, including the description, objectives, titles, and content types. From there, work with your team to create content or a course (whatever you have the time for).

Pro Tip: If you're   struggling to create content due to a lack of resources, see if other teams have some. For example, the Marketing team might have an overview deck. Similarly, your Support team might have a document of common challenges.

As you’re creating content, keep scale in mind. You'll want to consider:

• How will you create content to speak to different cultures and languages as you grow?
• What happens when you grow your team and more people are involved in content creation?
• How will you know what to update and when?
• How will you create content to meet different learning styles?

The sooner you answer these questions, the better. While it may seem fruitless to address them now given the scope of your online learning academy, a time will come when you’re ready to scale.

By thinking about scale now, you’ll be able to grow without disrupting the learning experience for your customers.

5. Put everything under a microscope.

Before you launch, examine all parts of your online learning academy, from your processes, team and the LMS (if you're using one).  

• Content: Does your content do its job and lead to the intended learning outcomes?
• Team: Is your   team ready to go? Does everyone understand their roles and responsibilities? Do they have a good understanding of the academy's goal and what they have to do to ensure your customers succeed?
• LMS:  Is the data you’ll need to prove ROI flowing between systems? How about the integrations, like one with your CRM ? Are automated emails going out as intended? You should also have your technical expert look at the backend of the LMS. First impressions matter, so ensure everything is working and primed to deliver a seamless learning experience.

You can take it one step further by asking a small group of customers to go through the process. Then, take their feedback and make adjustments before launching to everyone.  

Finally, before you officially launch, communicate with the rest of the company, especially the leadership team, and let them know what you're doing.

While your success ultimately hinges on your customers buying into online learning, company-wide support will go a long way, too.

6. Let it fly.

It's time to launch.

Remember: This is the beginning of your journey — think of this as V1 or your MVP. Your learning academy will evolve, but your focus now needs to be on getting your customers engaged.

Then, once you start tracking performance and sourcing feedback, you can iterate (step #7).

Pro Tip:  This version of your online learning academy will almost certainly lack some features and capabilities you've been thinking about from the start. That's great. Keep this "wishlist" in your back pocket and cross features and capabilities off as you grow and the resources become available.

7. Shout it from the mountain tops.

In tandem with your launch — if not leading up to it — hit up Slack, email, the breakroom, Zoom or any other way you connect with people and let them know what you’re doing.

Do this from two angles:

• Internal: Tell as many people and teams as possible about your academy and how it can help them . For example, show the Support team how it can help reduce support tickets. Tell your Sales team how it can help them close deals faster. Your goal is to get people excited and show them how the academy helps them   look like rockstars. The more buy-in you have from people inside your company, the easier it'll be to maintain buy-in and budget.
• External:  Let your customers know what's coming. Show them why   you've launched your academy and how it'll help them. Then, show them how to navigate it, access content and reach out for additional support. Your goal is to get them inside and engaged; you want to start creating a sticky environment they'll rely on far into the future.

As you go, keep the communication going by celebrating wins, sharing resources on new features, and more to keep your company and customers engaged.

Online learning is a marathon, not a sprint. If people peter out after a few weeks, the time you spent up until now will be largely for naught.

8. Make it even better.

I said it once, but it begs repeating: The online learning academy you launch is  not  in its final form.

As everyone gets used to online learning, start sourcing feedback to get a clear vantage point into how things are going.

Is your team operating smoothly?

Is your content effective?

Are videos the right length?

Do your quizzes miss the mark because they require customers to answer short-form questions?

Are certain content formats working better than others?

Is the LMS working properly?

As you gather these insights, make improvements to enhance the learning experience and ensure you’re still delivering an experience that delights — and helps retains — your customers.

Launch an Online Learning Academy Your Customers Will Love

Don’t let a lack of bandwidth, resources or experience stop you from launching an online learning academy — launching one your customers will love is only 8 steps away.

In 2022 and beyond, these 8 steps are some of the most important ones you can make.

Your customers (and your bottom line) will thank you.

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Home » Sample Business Plans » Education

How to Write an Online Educational Website Business Plan [Sample Template]

Are you about starting an online education website? If YES, here is a complete sample online education website business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting an online education website. We also took it further by analyzing and drafting a sample online education website marketing plan template backed up by actionable guerrilla marketing ideas for online education websites. So let’s proceed to the business planning section .

Why Start an Online Educational Website?

If you are an educationist or someone who has background in education matters, and you intend starting your business, then you should consider starting your own online educational website. Being an educational consultant means that you will provide tutoring services via the internet; you will provide tutoring services across a variety of academic subjects and across all age groups.

Starting an online educational website is not too expensive except for the money required to rent and furnish an office space and also to run the website. Running this type of business requires that you should be trained as an educationist and it is indeed a very lucrative business in the United States, Canada, Australia and The United Kingdom simply because it is affordable and it is not location bound.

if you are truly convinced that starting an online educational website is the right business for you to do, then you need to write your own business plan. Below is a sample online educational website business plan template that will help you successfully write yours with little or no stress;

A Sample Online Educational Website Business Plan Template

1. industry overview.

Operators in the Online Educational industry comprises of institutions that basically deliver online education to students. In order to be considered as an online educational provider firm, over 80 percent of the course or unit content offered by your firm has to be delivered via online platform.

For instance, students could be located off-campus for the duration of their enrolment and successfully complete a unit of study. It is important to mention that online education includes study at all levels of education. In recent time, the Online education industry recorded strong growth and of course this is due to rising internet penetration in households and changing consumer preferences that favor conducting services online.

In addition, the industry also benefited during and immediately following the recession as widespread unemployment across the US economy precipitated a large number of individuals returning to educational institutions to develop skills while the labor market remained weak. Going forward, the Online Tutoring Services industry is expected to continue to record strong growth, though at a slowdown rate

A recent research carried out by IBISWORLD reveals that the Online Education industry has grown rapidly over the past five years. Technological advancements and faster internet have made the online education model a more viable option for learning. With more individuals and businesses recognizing the benefits of online education, the use of online learning has soared.

A trend towards up skilling, which became apparent during the global financial crisis, has solidified with an increase in the national unemployment rate over the past five years. Higher unemployment has encouraged those out of work to retrain, and employees to upskill to protect themselves from redundancy. Online education provides greater flexibility and enables full-time workers to engage in further learning

The Online Tutoring Services industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Germany, Italy, Holland, Switzerland, Australia and Canada et al. Statistics has it that in the united states of America alone, there are about 764 registered and licensed online educational firms scattered all across the United States responsible for employing about 10,964 and the industry rakes in a whooping sum of $411 million annually.

The industry is projected to grow at 4.2 percent annual growth within 2011 and 2016. It is important to state that Tutor.com has the largest available market share in the industry.

Lastly, one thing is certain about starting an online educational website, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals, and even educational institutions / schools that would want to hire your services from time to time.

2. Executive Summary

Teddy Braham® Online Tutorial Service, LLC is a registered and licensed online educational service provider company that will be based in Phoenix – Arizona. The firm will handle all aspect of online education related services; services such as primary school tutoring, advanced academic tutoring, exam preparation services, occupational academic programs and other related educational support services.

We are aware that to run a standard online educational website can be demanding which is why we are well trained, certified and equipped to perform excellently well.

Teddy Braham® Online Tutorial Service, LLC is a client – focused and result driven online educational service provider that provides broad- based services at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a standard and professional online education services to all to our individual clients, and corporate clients at national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they enroll in our online school or hire our services.

At Teddy Braham® Online Tutorial Service, LLC, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the online tutorial services industry

Teddy Braham® Online Tutorial Service, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position the business to become the leading brand in the online tutorial services industry in the whole of Phoenix – Arizona, and also to be amongst the top 20 online educational services provider websites in the United States of America within the first 5 years of operations.

This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that Phoenix – Arizona is the right place to launch our online educational services business before sourcing for students from other cities in The United States of America and throughout the globe.

Teddy Braham® Online Tutorial Service, LLC is private registered business that is owned by Teddy Braham and his immediate family member. Teddy Braham has well over 10 years of experience working at various capacities within the online tutorial services industry in the United States of America prior to starting Teddy Braham® Online Tutorial Service, LLC. Teddy Braham has the required experience and qualifications to build a world class online educational website that can favorably compete amongst leaders in the industry.

3. Our Products and Services

Teddy Braham® Online Tutorial Service, LLC is established with the aim of maximizing profits in the online tutorial services industry. We want to compete favorably with the leading online educational services providers – websites in the United States and in the world which is why we have but in place a competent team that will ensure that we meet and even surpass our students’ expectations.

We will work hard to ensure that Teddy Braham® Online Tutorial Service, LLC is not just accepted in Phoenix – Arizona, but also in other cities in the United States of America and throughout the globe. We are in the online tutorial services industry to make profits and we will ensure that we do all that is permitted by the law in the United States of America to achieve our aims and ambitions of setting up the business

Our business offerings are listed below;

• Primary school tutoring
• Advanced academic tutoring
• Providing exam preparation services
• Occupational academic programs
• Providing college selection services
• Providing educational consulting services
• Providing educational guidance counseling services
• Providing educational support services
• Providing educational testing services

4. Our Mission and Vision Statement

• Our vision is to build an online educational services provider brand that will become one of the preferred online educational websites in the online community. Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to position our online educational website to become one of the leading brands in the online tutorial services industry in the whole of Phoenix – Arizona, and also to be amongst the top 20 online educational services provider websites in the United States of America within the first 5 years of operations.

Our Business Structure

Normally we would have settled for two or three full – time staff members, but as part of our plan to build a standard online tutorial services provider – website in Phoenix – Arizona, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our organization.

The picture of the kind of online educational website we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Phoenix – Arizona.

We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer

Online Education Consultants

Admin and HR Manager

Marketing and Sales Executive

Information Technologist

• Customer Care Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for handling services such as primary school tutoring, advanced academic tutoring, exam preparation services and occupational academic programs Responsible for providing college selection services
• Responsible for providing educational consulting services
• Responsible for providing educational guidance counseling services
• Responsible for providing educational support services
• Responsible for providing educational testing services
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the organization in strategic meetings
• Helps to increase sales and growth for the organization
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• create reports from the information concerning the financial transactions recorded by the bookkeeper
• Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the organization
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages the organization website
• Handles security, email and business features
• Installed web site applications for the organization
• Responsible for providing website builder, security and value-added features
• Responsible for Optimizing Website Functionality for owners of existing websites
• Responsible for Search Engine Optimization Services and Code Writing Services

Client Service Executive / Front Desk Officer

• Welcomes students and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the organization’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
• Receives parcels / documents for the organization
• Distributes mails in the organization
• Handles any other duties as assigned the line manager

6. SWOT Analysis

Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business.

Teddy Braham® Online Tutorial Service, LLC hired the services of a seasoned business consultant with bias in start – ups in the United States to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the online tutorial services industry.

As an organization, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Teddy Braham® Online Tutorial Service, LLC.

Our core strength lies in the power of our team; our workforce. We have a team of highly qualified online education consultants and support staff members that can go all the way to give our students value for their money; a team that are trained, qualified and equipped to pay attention to details and to deliver excellent online education support services.

We are well positioned and we know we will attract loads of clients ( students and international students alike ) from the first day we open our doors for business.

As a new online educational services provider website, it might take some time for our organization to break into the market and gain acceptance especially from international students in the already saturated online tutorial services industry; that is perhaps our major weakness. So also, we may not have the required cash to give our business the kind of publicity we would have loved to.

• Opportunities:

The opportunities in the online tutorial services industry is massive considering the number of local and international students who can’t do with key services provided by only online educational services provider – website. As a standard and well – positioned online educational services provider – website, we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as an online educational services provider company operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the trends in the online tutorial services industry, you will agree that the industry has proved resistant to any downturns in the overall economy. Rapidly increasing internet penetration and online capabilities have transformed the possibilities of online tutoring; consequently, growth has remained strong.

This indicates that the industry is growing at a faster pace than the overall economy. It is a fact that online education introduces a range of new products to the Education and Training industry, which are opening up new markets. From school age to mature age, the convenience of online education has enabled individuals from all walks of life to become a participant of the industry.

So also, the take-up and advancements of mobile technology has benefited the industry. In recent time, the Online education industry recorded strong growth and of course this is due to rising internet penetration in households and changing consumer preferences that favor conducting services online.

Although it is cheaper to start an online educational services provider – website business, but the fact remains that it is a bit challenging for new entrant to come into this industry, the primary barrier to the entry for new establishment is the stiff registration requirements applicable in most countries not just the United States of America.

As a matter of fact, just like education consulting firms, online educational services providers must comply with local licensing criteria set out by registration boards and professional associations to obtain registration in their country or the state they want to operate from. This usually requires applicants to hold an accredited tertiary qualification before they can undertake written tests of skills, knowledge and abilities.

Lastly, the fact that there are loads of potential students scattered all across the globe who can be reached with just a lick of the mouse makes it highly important for online educational services provider website to continue to explore trendier means to reach out to them.

8. Our Target Market

The demographic and psychographics composition of those who need the services of online educational services providers cut across students at all levels of studies and from all across the globe.

Teddy Braham® Online Tutorial Service, LLC will initially serve students within our immediate community, but that does not in any way stop us from growing to be able to compete with the leading online educational services providers in the United States and the world at large.

As a standard and licensed online educational services provider, Teddy Braham® Online Tutorial Service, LLC offers a wide range of online educational services hence we are well trained and equipped to services a wide range of students from all part of the world.

We are coming into the industry with a business concept that will enable us enroll students at different level of education from the United States and all over the world. Below is a list of the people and organizations that we have specifically design our products and services for;

• International Students
• Local students
• Tutorial colleges

Our competitive advantage

The level of competitions in the online tutorial services industry depends largely on the course provided, the functionality of the website and the worth of the certificate in the market – place. If you can successfully create a unique brand identity for your online educational services provider company or carve out a unique market, you are likely going to experience less competition.

For instance, if you are one of the few online educational service providers in your location that has the most qualified and experienced online education consultant with successful track record under your payroll, you are likely going to have a competitive advantage over your competitors.

We are quite aware that to be highly competitive in the online tutorial services industry means that we should be able to deliver expected results, our students should be able to pay for our services and we should be able to meet the expectations of students.

Teddy Braham® Online Tutorial Service, LLC might be a new entrant into the online tutorial services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified online education consultants and experts in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (start – ups online educational services firms) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Teddy Braham® Online Tutorial Service, LLC is established with the aim of maximizing profits in the online tutorial services industry and we are going to go all the way to ensure that we do all it takes to attract clients (local and international students) on a regular basis.

Teddy Braham® Online Tutorial Service, LLC will generate income by offering the following services;

10. Sales Forecast

One thing is certain, there would always be local students, international students, individuals et al who would need the services of online educational services providers.

We are well positioned to take on the available market in Phoenix – Arizona and other key cities in the United States of America and the globe. We are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our student base beyond Phoenix – Arizona to other states in the United States and throughout the online community.

We have been able to critically examine the online educational services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Phoenix – Arizona.

Below are the sales projections for Teddy Braham® Online Tutorial Service, LLC, it is based on the location (world wide web) of our business and the wide range of online educational services that we will be offering to our students;

• First Fiscal Year-: $250,000
• Second Fiscal Year-: $450,000
• Third Fiscal Year-: $950,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiffer competitions amongst online educational services provider firms and other related educational support service providers in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard and world – class online educational website that will leverage on word of mouth advertisement from satisfied students

Our goal is to grow our online educational services website to become one of the top 20 online educational services websites in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States of America, but throughout the globe (the online community).

Teddy Braham® Online Tutorial Service, LLC is set to make use of the following marketing and sales strategies to attract students;

• Introduce our online educational website by sending introductory letters alongside our brochure to migrant communities, corporate organizations, households and key stake holders in the United States.
• Advertise our website in relevant magazines, newspapers, TV stations, and radio station.
• List our education consulting firm business on yellow pages’ ads (local directories)
• Attend relevant international and local education, international studies and business expos, seminars, and business fairs et al
• Create different packages for different category of clients (local students and international students et al) in order to work with their budgets and still deliver quality online educational services to them
• Leverage on email marketing to reach out to potential students
• Engage in direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied students
• Join local chambers of commerce and industries with the aim of networking and marketing our services.

11. Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.

We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our online educational services provider – website. Below are the platforms we will leverage on to boost our brand and to promote and advertise our business;

• Place adverts on community based educational and related newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
• Ensure that we position our banners and billboards in strategic positions all around New Phoenix – Arizona
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Contact migrant communities, schools, and households et al by calling them up and informing them of Teddy Braham® Online Tutorial Service, LLC and the online educational support services we offer
• Advertise our business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and school buses and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Teddy Braham® Online Tutorial Service, LLC will charge our students flat fee for many basic educational services such as primary school tutoring, advanced academic tutoring, exam preparation services, occupational academic programs and other related educational support services.

At Teddy Braham® Online Tutorial Service, LLC we will keep our fees below the average market rate for all of our students by keeping our overhead low and by collecting payment in advance.  In addition, we will also offer special discounted rates to both local and international students from time to time.

We are aware that there are some clients that would need regular access to online education support services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

The payment policy adopted by is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Teddy Braham® Online Tutorial Service, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our online educational support services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for all our online educational services rendered.

13. Startup Expenditure (Budget)

When it comes to calculating the cost of starting an online educational website – business, there are some key factors that should serve as a guide.

Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting an online educational services provider – company; it might differ in other countries due to the value of their money.

Below are some of the basic areas we will spend our start – up capital in setting up our online educational services provider – company;

• The total fee for incorporating the Business in the United States of America – $750.
• The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
• The amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000
• The total cost for hiring Business Consultant – $2,500
• The cost for equipping the office (internet server, computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $15,000
• Marketing promotion expenses for the grand opening of Teddy Braham® Online Tutorial Service, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for purchase of the required software applications (testing results tracking Software, Payroll Software, CRM software, and Accounting Software et al) – $10,500
• The cost of launching our official Website – $600
• Budget for paying at least three employees for 3 months plus utility bills – $10,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand ( 150,000 ) U.S. dollars to successfully set – up a small scale but standard online educational services provider company in the United States of America. Please note that the salaries of all our staff members for the first month is included in the expenditure.

Generating Funds / Startup Capital for Teddy Braham® Online Tutorial Service, LLC

No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Teddy Braham® Online Tutorial Service, LLC is a business that will be owned and managed by Teddy Braham and his immediate family members. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Teddy Braham® Online Tutorial Service, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our online educational services / courses a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Teddy Braham® Online Tutorial Service, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Securing a standard office facility (renovation of the facility inclusive): Completed
• Purchase of All form of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed software applications, internet server, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the industry: In Progress

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E-learning Business Plan Sample

Published Sep.30, 2013

Updated Apr.22, 2024

By: Jakub Babkins

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Table of Content

E-learning Business Plan for starting your own business

If there’s one thing we’ve learned from the COVID-19 pandemic, that is, we can do a lot more from home than we previously thought. We are presenting this business plan for educational services from home. This is the right time to get started with an e-learning business as people are still reluctant to go out.

If you want to know how to set up and elearning course, you are in the right place. Just like a business plan for a driving school or a business plan for language school , this one is based on an actual start up. Let’s see the components of strategy that will help Smart E-learning School succeed.

Executive Summary

2.1 the business.

Smart E-learning School will be owned and headed by Hazel White. The school will be focused on providing technical education via the internet and distant learning. The courses offered by the school will be about computer, languages, and programming. starting a e learning business is easier than you think. It is just like a preschool business plan but everything is online.

2.2 Management of E-Learning Business

If you are looking for an answer to how to start e learning business, here it is. The online school business plan will be headed by White and she will hire specialists of each field to help her plan how to set up online training courses in such a way as to make the maximum profit. A mobile application business plan will also be needed to make the business available for all.

2.3 Customers of E-Learning Business

The customers of Smart E-learning School will be from all geometrographic geographic subdivisions from all over the US. The main customers of the business will be:

• People looking to acquire new skills.
• People wanting to learn new languages.
• People interested in learning photography and videography.
• College graduates wanting to get safety and other certifications.

2.4 Business Target

The subjective target of this online school business plan is to create a reputable name in the elearning industry. However, we’ve set the following objective targets:

• Enroll 5,000 students within the first 6 months.
• Generate a revenue of $0.3 million per annum by the end of year 3.
• Expand to the global market by the end of year 2.

Company Summary

3.1 company owner.

Hazel White will be the owner and CEO of Smart E-learning School. White has worked as an educationist for 30 years. She previously implemented a tutoring business plan with success. That makes her the perfect person to implement this e learning business plan sample.

3.2 Why the E-learning business is being started

After the coronavirus pandemic, people have realized that it is cost and time effective to learn from home than going to a school. The greatest evidence of this is the increase in the use of services like Google Classroom and Zoom. This is be best time to start e learning business.

3.3 How the E-learning business will be started

Step1: Planning

The first step towards successfully launching this online school business plan is business model for e learning is planning. The managemental hierarchy of the business will be developed and online education e learning sample business plan implementation strategy will be finalized. This is not as simple as a martial arts business .

Step2: Developing a Brand

The next step towards starting the business will be establishing a brand. Top-ranking educationists will be hired to create an impression of the brand. Just like a martial arts business plan it is important to have a brand.

Step3: Establish a Web and Physical Presence

Once the brand has been established, the next step will be to hire office space to start the work. An extensive website will be launched to make the business accessible for customers.

Step4: Promote and Market

The next step will be to create a strong marketing strategy to help the business get noticed by the customers.

The next thing that needs to be addressed in this e learning business plan template are the services. If you want to start your own e learning business, you need to determine the services.

Smart E-learning School will be focusing on 20 services divided into 4 categories:

1. Basic Freelance Skills Training

This category will teach people the basic level and easy freelancing skills that they can use to make money. This will include:

• Freelance writing.
• Content creation.
• Data entry.
• Use of popular word processors

2. Advanced Freelancing Skills Training

This head will cover specialized skills that can be used for freelancing as well as office jobs. These will include:

• Video editing.
• Basic programming.
• Photo editing.
• Virtual assistant training.
• Business plan writing .

3. Languages

We will also be teaching people languages that can increase the chances of them getting better employment opportunities. Smart E-learning School will teach:

• Entry level Chinese.
• Intermediate Spanish.
• Advanced English.
• Intermediate French.
• Advanced Spanish.

4. Advanced Skills

These will include:

• Photography.
• Videography.
• Automotive repair.

Marketing Analysis of E-learning Business

If you want to know how to start e learning business online, you need to conduct marketing analysis. This is the part where we determine the economic viability of the project.

As of 2019, there are more than 31,000 elearning companies in the US. The market capitalization of the elearning industry was 144 billion USD in 2019. It has been growing ever since at a rate of 14.4% annually and is expected to be worth more than 370 billion USD by 2025.

If you want to start your own e-learning business pdf, you’ll need to come up with an innovative approach. However, the COVID situation has made things easier. People now prefer to learn via elearning rather than attending an actual school.

Great service

Great service. Good turnaround time and quality work. Thanks!

One of the most profitable customer bases for any e learning business model are small to medium enterprises. These companies want to get their employees trained at the lowest possible cost. That is only possible through elearning. This enables the employees to receive training while they are in the office and they do not have to take a leave for it.

Another thing that you need to take care of while planning to start an online school business plan is the availability of teachers. If you want to succeed as a new entrant in the industry, you’ll need to hire the best teachers. The best teachers and trainers in the territory are the people who can make the business a success for you.

You also need to look into the way others in the same industry are operating. The way they teach, examine, and certify their students are some of the very important things to get inspiration from.

5.1 Market Trends

As stated earlier there are more than 31,000 e-learning businesses in the US. The market, however, has not always been like this. There were only a handful of distant learning companies operating in the US before the widespread use of the internet. These companies taught through distant lectures on dedicated TV channels and conducted examinations in large cities.

Since the 2000s, the industry started to bloom. It had a growth rate of 7% in 2002. The number and magnitude of e-learning businesses kept going up and the growth rate accelerated over the years. The industry still has a 14.4% growth rate meaning that new entrants still have a chance.

5.2 Marketing Segmentation

In this business writing e learning we’re listing the expected customers of Smart E-learning School:

5.2.1 People Looking for Skills to Earn

One of the main customers/students of any elearning setup are the people who are looking for a cost-effective way to acquire skills. This segment will makeup the bulk of independent customers at Smart E-learning School.

5.2.2 People Looking to Learn Languages

A substantial portion of the students at Smart E-learning School will be the ones looking to learn new languages. These people will be the high paying ones as language education is expensive.

5.2.3 People Learning Skills as Passion

People also go to elearning schools to learn things they are passionate about. We’ll teach photography and videography to such people. However, people can also learn the same for earning money. We don’t judge anyone at Smart E-learning School.

5.2.4 Small to Medium Enterprises

We will also be providing online training solutions for the companies that cannot have their own training wings. This will make up the largest single market segment by revenue as such clients often need training for a lot of people.

5.3 Business Target

• To establish Smart E-learning School as a leading distant learning services provider.
• To make some permanent corporate clients and sign long-term training contracts with them.
• To start making $26,000 a month by the end of year 3.
• To maintain a CSAT score of more than 90%

5.4 Product Pricing

All courses and training programs will be priced as per the competitors. The prices will be kept a little bit lower than competing businesses to earn clients at the start.

Marketing Strategy of E-learning Business

In order to start a successful business any business e learning marketing plan sample must contain a solid marketing strategy. As the elearning market is a saturated one, a lot depends on how well we present the online school business plan.

If you have come this far looking for how to start a e-learning business proposal, you need to know the importance of an effective marketing strategy. We need to highlight the areas where we are stronger than our competitors. Only then we can succeed.

6.1 Competitive Analysis

• We will implement modern learning techniques to make our trainings better than what the competition has to offer.
• We will be hiring the top-notch professionals of every field to make sure we deliver the best.
• We will design innovative training solutions for small to medium enterprises to get permanent clients.

6.2 Sales Strategy

• We will use TV commercials, Google Ads, and banners to promote our nascent brand.
• We’ll offer discounts in the first 6 months to attract people and advertise the business in turn.
• We’ll make specialized plans for corporate clients

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan

The next step for this business plan for e learning company is making a list of people needed to effectively run the company. One thing that must be noted here is that this online school business plan is unique. It will be needing both administrators and teachers to run.

7.1 Company Staff

• Hazel White will be the owner of the company.
• 1 Manager Liaison will be needed to connect with the outside world.
• 4 Language Teachers will be needed, one for each language being offered.
• 7 Skills Teachers will be needed for all the subjects being offered.
• 1 IT Expert will be hired to make sure the website runs smooth.
• 1 Social Media Manager to manage the much-needed social presence of the school.
• 1 Accountant
• 1 Technician to upkeep technical equipment.
• 1 Receptionist

Financial Plan

The final part of this e learning business case will tell how much capital will be needed to start the business. This will cover the amount of money that is needed from the way the execution of the business is started to the day it starts breaking even. Here are some of the costs that must be taken into consideration:

• The rent of the place to set up the business in.
• The amount needed to purchase office equipment.
• The money needed to set up and online portal for the school
• Marketing and publicity expenses.
• Money required to pay the employees before the company starts generating revenue.

8.1 Important Assumptions

8.2 break-even analysis.

8.3 Projected Profit and Loss

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

Download e learning business plan sample in pdf

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The 2 Most Profitable Types Of eLearning Business Models

Learn More about Video Monetization

• "Night School" eLearning Business Model
• "Academy" eLearning Business Model

Which eLearning Business Model Should You Choose?

Tell me if this sounds like you.

You’ve got an idea for an online school or eLearning business .

You’ve outlined the skills you want to teach, and you’ve even got an idea of who your ideal student is. But, you’ve hit one major roadblock…

You don’t know how to make money from it .

Sound about right?

If so, you’re in the right place. Today you’re going to learn how to change all of that.

In this article, I want to show you the two best online education business models you can follow. So, no matter who or what you want to teach, you’ll have a clear idea of how to turn your idea into income.

Here’s what we’ll cover…

What You’ll Learn

• The “ night school ” and “ academy ” eLearning business models
• The major pros and cons of each
• How much you can earn with each model
• How to choose the right one for your business

The “Night School” eLearning Business Model

Night School is a classic eLearning business model.

Its name is rooted in the night classes you can take at your local community college. You know, where you go to learn languages or pick up skills to help in your job.  The simple business model which drives these traditional courses can provide a profitable blueprint to sell courses online.

This style of business model is all over websites like Udemy, where customers pay for access to a course which teaches them a specific skill.

Let’s say you’re going on holiday to Germany and you want to be able to understand the basics before you go so that you can blend in like these two cheeky chaps here:

You could head over to Udemy, search for “learn German” and find a course which teaches you the basics you need.

From there the process you saw earlier kicks in:

You log in. Watch your video lessons. Take tests. Contact your tutor when you have trouble. And, by the time you get to Berlin, you’ll hopefully be able to order a Schnitzel without offending anybody.

It’s pretty simple. But what kind of eLearning business is this model best suited to?

Who Is The “Night School” eLearning Business Model For?

This type of eLearning business model is flexible and can be adapted by any type of online school or teaching business.

It’s been the default model for the majority of online eLearning businesses over the last few decades, but it’s the best fit for:

• New businesses: If you’re testing products and your audience’s reaction to them, this can be a great way to generate cash flow and get feedback.
• High-ticket businesses: If you want to sell one-off products at a $2000+ value
• Online course-only businesses: If you only want to sell one-off courses, without all of the frills and support of a “school” environment

Basically, if you like to go deep into a specific skill or ability, this type of eLearning business model is for you. Which can be done across multiple topics in one niche, as you’ll see in the next section.

How Do You Make Money With It (And How Much)?

The key to making money with the night school eLearning business model is to create standalone courses which solve your customer’s major problems.

These courses can differ in value and depth, but they guide your customer to a specific endpoint. Let me show you what I mean.

One business who does this brilliantly is Ramit Sethi’s; I Will Teach You To Be Rich .

The business is grounded in one “umbrella” niche, which is financial success. But for each of the barriers his customers have to getting there, he has a course to help them get through it.

This includes topics like mental frameworks and having better conversations:

The starting retail cost of these courses is around $350 and work there way up to $2000-$2500 range. Which, as you can imagine, is really lucrative.

This is easily adaptable to any business niche, too. Let’s say you’re going to start a business around videography; you could focus on pain points like:

• How to create the perfect YouTube video
• How to edit videos in Final Cut Pro
• How to sell your videos to a TV channel
• How to find, source and add music to your videos

Each of these would become a standalone course and retail at a different value, depending on the depth and demand for the course content.

With this business model, you could be looking at the $2,000+ range a month with a brand new business.

The 5 Pros And 5 Cons Of The Night School Model

Before you make your decision to choose this online learning business model, I want to break down the five pros and cons of choosing it.

• Lucrative: You can create a broad spectrum of products and retail them at high-ticket prices
• Specific: You can create products which solve problems and cause transformation.
• Low overheads: You can create courses in cheap (or free) formats like PDFs.
• Outsourceable: You can easily build teams to help you manage your workload.
• Evergreen: When you create a course you can sell it for years to come.
• Time-intensive: You’ll need to invest lots of time and effort into creating high-quality courses which generate results.
• Complicated: Each course requires its own unique sales funnel.
• Launching: You’ll have to consistently launch (and relaunch) your products to make sales.
• Non-recurring income: You have to sell people multiple times to keep your cash flow high.
• Marketing: Requires a constant stream of new leads to make sales.

The “Academy” eLearning Business Model

The academy business model has been part of a renaissance for eLearning.

Instead of creating an online course business model, as you saw with night school a second ago, you create a comprehensive school where students learn all of the skills they need to achieve their desired goal.

Let’s look at this in real-world terms first.

When a student enrolls into an academy – say, a soccer school – they don’t focus just on one aspect or skill. Instead, they come away with a well-rounded education in:

• How to pass, dribble and shoot the ball
• How to eat the right foods and how much water to drink
• How to recover from a tough game
• How to communicate with teammates
• How to apply for college scholarships

If it sounds like I have an overly intimate knowledge of soccer academies it’s because, a) I’m British and, b) I spent a year coaching in an American one. (Did somebody ask for blue steel?)

But, I digress…

In the online world, the Academy eLearning business model works a little like a Netflix subscription .

For a monthly recurring fee, students get access to your entire library of lessons and courses. They can pick and choose what they learn, and when they learn it, and build their education.

The academy can also come with lots of different community features, like:

• Live Q&As
• Coaching calls
• Facebook groups

Depending on how you choose to run your business. As long as they pay their monthly subscription, they can have access to all of it. When they cancel, they lose it.

Because this eLearning business model relies on a subscription system, it has the potential to be profitable, scalable and much more manageable than the night school option.

But, who does this business model work for, and is it the right choice for you?

Who Is The Academy eLearning Model For?

The academy business model can work in any broad niche with multiple skills to teach. But it works best for:

• Niche experts: Who want to teach a wide range of skills in a specific niche
• Health and Fitness pros: Who want to share up-to-date advice to their clients
• Creatives: Who want to teach different artistic practices or disciplines
• Enterprise experts: Who want to provide training to corporations

If you want to cover a broad topic and provide depth in the areas, you think matter, without creating multiple standalone courses, this is for you.

The academy eLearning business model is based on a subscription service to get access to both short and long-from training videos on a topic.

The price point is usually affordable – between $9.99 and $49.99 per month – and on a recurring basis. These prices can vary depending on the package someone signs up for.

Let’s look at this online education business model in action so you can see what I mean.

Magic Stream teach people how to perform incredible magic tricks with their online academy.

For $12.99 a month students get access to hundreds of hours of training material covering lots of different topics.

Behind each of these thumbnails is an intense training video which teaches you a specific skill. Instead of a “course” style, this is individual sessions or walkthroughs.

Running the business this way allows them to create a comprehensive library of content to help magicians learn a wide range of skills.

This is an attractive offer for a would-be magician who finds their product. For a small investment, they can get lots of value.

But that may be causing you a few worries right now. Because $12.99 per sale doesn’t sound anywhere near as lucrative as the $350 courses you saw in the last section, does it?

Well in the short term you probably could make more money with the Night School model. Over the long term, however, the academy model wins. Why?

Because you have a constant source of recurring passive income which has the potential to grow infinitely .

Let me explain…

Let’s say you launch your academy and you make ten sales of $13.00. That’s a pretty modest $130 for your troubles, right?

Well, that’s $130 which you will get paid every month from those customers. And, if you pick up an average of 10 new customers (absolute worst-case scenario) every month, here’s how your income will look over a year.

• Month #1: $130 (10 subscribers)
• Month #2: $260 (20 subscribers)
• Month #3: $390 (30 subscribers)
• Month #4: $520 (40 subscribers)
• Month #5: $650 (50 subscribers)
• Month #6: $780 (60 subscribers)
• Month #7: $910 (70 subscribers)
• Month #8: $1,040 (80 subscribers)
• Month #9: $1,170 (90 subscribers)
• Month #10: $1,300 (100 subscribers)
• Month #11: $1,430 (110 subscribers)
• Month #12: $1,560 (120 subscribers)

That’s a pretty quick increase in recurring income. This is what you’re guaranteed each month, save for a complete mutiny or catastrophe. And that’s before you look at the compound effect, where you’ve earned a total of $10,140 over the year .

At the point of launch, those $350 courses look deceptively lucrative. But over the long game, you can earn more money for less work with the academy model. In fact, the Uscreen customers who apply this business model earn an average of $5,700 per month!

The 5 Pros And Cons Of The Academy eLearning Business Model

Before you decide to choose this model, let’s take a look at the major advantages and disadvantages of using it:

• High-retention: Customers are “hooked” to your service because they want the new content you release
• Attractive pricing: You can bring new customers in with a low-cost but high-value offer
• Passive income: You can make money without being there at the point of sale
• Scaleable: Easy to grow or shrink to your desired business size
• Simplicity: You only need one sales funnel leading to one offer
• Content creation: You need to periodically create new content
• Lower initial earnings: It can take time to build momentum
• Hosting: You’ll need a more expensive platform to run this
• Innovation: Your content needs to hit a broad range of topics to keep people hooked
• Zombie-accounts: The ethical question of people paying who aren’t using your service

By now you should have a clearer image of the two major online education business models, and which one is going to be a better fit for your business.

If you’re still not sure, here’s a little recap:

You should choose the Night School model if you want to go to depth on topics and create high-ticket offers for your customers. Launching products doesn’t phase you, and you prefer the big payout they provide.

You should choose the Academy model if you want a long-term profitable online course business which is easy to manage and has high levels of customer retention. You want to create one offer and deliver as much value to people as possible, and you’d prefer to keep customers for the long-term.

Now before you go, it’s important to note you can change business models whenever you want. It’s not uncommon for people to create three or four courses and then bundle them together into an academy-style product.

But an academy model should probably be the overall end goal for your business, if not now, then in three to five years.

Wrapping This Up …

Phew! That was a lot of information. Well done for making it to the end!

You can sign up for our video business school, where we’ll share even more about how to start a profitable online learning business!

James Johnson

James is a Photography YouTuber from Manchester, England. A former digital nomad, he’s been working online and in the creator economy for over a decade.

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Oscar Wong / Getty Images

If you want to get into the online business game, it’s a good time to start. The COVID-19 pandemic reshaped online consumer spending, including how people shop online and how they research products.

Today, 76% of Americans buy products online. Furthermore, roughly a third of people purchase items online weekly. From setting up an ecommerce business to offering web design services, there are countless avenues to explore as an entrepreneur.

Below, we’ll walk through each step to building an online business.

Key Takeaways

• When starting an online business, comprehensive market research is critical for identifying your target audience and learning how to resonate with your customers and understand their needs.
• Creating a business plan is an important step for outlining your business goals. It also includes your product description, target market, and financial projections, among other core components.
• Building your website involves setting up a domain name, finding a hosting company, and designing a strong website with consistent branding that allows your customers to navigate it intuitively.
• Choosing the right product or service to sell is essential. It’s important to think about how you’re addressing an unmet need.
• Several digital marketing strategies can be utilized, from content marketing to paid advertising, to help your business grow.

Successful online entrepreneurs study hard in order to have a thorough understanding of their market. This is important for knowing exactly how to reach your target market , because these are the people who will buy your products and drive your business growth.

At its core, market research is about understanding your customers’ needs, pain points, and solutions. It is designed to help your business better meet these needs.

Steps to Conduct Market Research

Market research involves understanding key aspects of your current and future customers. To get a clear sense of your target market, outline the characteristics of your audience—for example, age, location, gender, income, job title, and key pain points.

Once you have identified your target audience, conduct research on the following topics, which will tell you about how they make decisions and how you can better position your business:

• What are the challenges that your target market faces?
• Where do they research a given product or service?
• What are their views on pricing for this product or service?
• What factors influence their decision to make a purchase?
• Who are your competitors?

To put this market research into action, there are a number of different avenues you can take:

• Focus groups
• Competitive analysis
• Brand awareness research
• Market segmentation research

Consider the following questions that may be asked in an interview or focus group to learn more about your audience:

• “How do you search for that product?”
• “How useful was it?”
• “What words do you use when you search on Google?”

When you have completed your market research, identify what you have learned as well as your next steps based on these insights.

Creating a business plan is a key first step for all business owners . It is important for companies looking to secure funding resources. It also serves as a blueprint to summarize your key business objectives and goals.

To write a business plan , incorporate these eight main sections, which are often found in traditional templates:

• Executive summary : This is typically a one-page section that explains your objectives and includes your mission statement, core team, and why your company is positioned for success.
• Company description : This describes what you offer, your competitive advantages, and your business goals.
• Market analysis : This is where you explain your target market, market size, market trends, and competitive landscape.
• Organization and management : Explain who is working on your team and their professional background and experience.
• Service or product line : Describe the product or service you are offering, including any copyright or plans for patenting.
• Marketing and sales : Discuss your marketing and sales strategy. Discuss your pricing, key metrics, and sales plan.
• Funding request : If you are a company looking for funding, here is where you outline the capital you are requesting and where it will be allocated.
• Financial projections : Include projections for your company’s revenue and expenses. Consider including an income statement, balance sheet, and cash flow statement in this section.

A business plan is important because it helps clarify your action points, who you are, and what you offer, all in a coherent template.

Getting your business online is the next key step. In an ever-changing environment, it is important to know the tools, trends, and strategies for building a strong online presence to allow your business to grow.

Registering Your Domain

The first step is registering your name, or your website address. This can be in the form of your business name “.com.” To purchase your domain name, you can go to sites like GoDaddy or Namecheap . If you decide to build your website using WordPress, you will need to use a site such as these to host your website.

Web Hosting Companies

Alternatively, you can buy your domain name at a hosting company. These are companies like Shopify , Wix , or Amazon Web Services , that may also offer tools to build your website and release content on them. 

Website Design

A well-designed website is important for many reasons. Using a website builder, such as Mailchimp or Squarespace , can allow you to choose a theme, customize your pages, create relevant content, and set up a payment page.

Other key aspects of your website design include its functionality, simplicity, and ease of use. Allowing your potential customers to navigate the site intuitively will be key to their experience. Brand consistency—in your logo, colors, and typeface, for example—is also key to creating a unified brand.

Another essential part of website design is its mobile application. You’ll want to ensure that your website runs smoothly on mobile, that images load properly, that the text is legible, and that buttons are intuitive to click.

This step focuses on how to choose the right product or service to sell. At the heart of this choice is the goal of solving a customer’s problem. But there are a number of strategies you can use to identify your product idea.

For example, you might consider analyzing companies with high-profit margins, products that align with your passion, burgeoning trends, items trending on online marketplaces, and/or customer reviews.

With this in mind, analyze how this product will get to your customers. Additionally, you may consider products that are not available in stores in your local market but are offered in communities such as Europe or Japan, for example.

Marketing strategy and promotion is an essential driver of business growth. As the digital landscape evolves, it’s important to have an effective marketing plan that resonates with changing consumer preferences and needs.

Here are questions that companies can consider as they create their marketing strategy, navigating today’s environment:

• Impact, value, and growth : What are the goals and key performance indicators (KPIs) that will measure success for your business? How will you explain the value that the business provides to its customers and/or society? Create an “elevator speech”—a 30-second description of what you offer and why it’s special.
• Customer need and brand promise : How does the brand meet a customer’s need through its products and services?
• Customer experience : How will the business deliver the best experiences at each stage of the customer journey?
• Organizational model : How will the business operate to serve the customer with the most impact?

These will help you understand what types of strategies can have real impact.

Types of Marketing Strategies

Consider the following digital marketing strategies that can be used for your online business:

• Email marketing
• Social media marketing
• Paid advertising
• Search engine optimization (SEO)
• Content marketing
• Influencer marketing

Each of these presents a different way to reach your target audience, drive conversions, or build brand awareness, depending on your marketing goals.

You need to determine that for yourself. But before starting an online business, it’s important to assess the time, investment, and resources you’ll need to get it off the ground. While the barrier to entry can be quite low, it’s worth considering your goals and strategies for making it a reality.

However, compared with starting up a traditional brick-and-mortar business, the risks of launching an online business may be reduced due to lower upfront costs such as rent, staff, and materials, among others.

The short answer: yes. While it depends on the type of business you hope to pursue, there are many ways to set up an online business at very little cost. For example, you could offer your services doing freelance work, photography, bookkeeping, or personal training. The primary costs involved include setting up your business website, which can cost as little as $2 to $20 each year with companies such as GoDaddy.

There are a number of digital marketing strategies that online businesses can use, such as content marketing, email marketing, paid advertising, SEO, and influencer marketing. Each of these strategies can be useful, depending on your product and goals.

Starting an online business can be a powerful way to launch a new product or service while reaching a wider audience. With market research, a solid business plan, a strong website, and a digital marketing strategy, you can get started in growing your company effectively. As customers increasingly make decisions virtually, building an online business is vital to any business owner’s success.

Pew Research Center. “ For Shopping, Phones Are Common and Influencers Have Become a Factor—Especially for Young Adults .”

U.S. Small Business Administration. “ Market Research and Competitive Analysis .”

U.S. Small Business Administration. “ Write Your Business Plan .”

Ogilvy. “ Getting Future Ready with Marketing Transformation ,” Page 15.

GoDaddy. “ How Much Does a Domain Name Cost? Find Out! ”

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School Business Plan Template

Written by Dave Lavinsky

School Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their schools.

If you’re unfamiliar with creating a school business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a school business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a School Business Plan?

A business plan provides a snapshot of your school as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a School

If you’re looking to start a school or grow your existing school, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your school to improve your chances of success. Your school business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Schools

With regards to funding, the main sources of funding for schools are donations and gifts, tuition, personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for schools.

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How to write a business plan for a school.

If you want to start a school or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your school business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of school you are running and the status. For example, are you a startup, do you have a school that you would like to grow, or are you operating a chain of schools?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the school industry.
• Discuss the type of school you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of school you are operating.

For example, you might specialize in one of the following types of schools:

• Private K-12 school : this type of school typically charges tuition, and may be affiliated with a religious organization, or specialize in a particular learning method.
• Charter school: this type of school offers primary or secondary education for a tuition, and may receive some public funding, and/or donations. These schools require their students to take state-mandated exams.
• Special subject school: this type of school specializes in teaching a specific subject, such as driving, first-aid, self-defense, fine arts, language, or general tutoring.
• Preschool: this type of school typically serves children who are aged 3 and 4. These schools prepare young children to enter formal education, and are funded by some combination of tuition, donations, and government grants.

In addition to explaining the type of school you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of students served, the number of students accepted into elite formal education institutions, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the school industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the school industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your school business plan:

• How big is the school industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your school? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your school business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: families with elementary-aged children, families with high-school-aged children, families with preschool children.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of school you operate. Clearly, families with high schoolers would respond to different marketing promotions than families with preschoolers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other schools.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes public schools, virtual schools, and families who do homeschooling. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of students do they serve?
• What type of school are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide specialized instruction, either in subject or in method?
• Will you offer courses or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a school business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of school that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide religious-focused K-8 education, college preparatory courses, or single-subject instruction like driving or fine arts?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the courses and/or extracurricular activities you offer and their prices.

Place : Place refers to the site of your school. Document where your company is situated and mention how the site will impact your success. For example, is your school located in a growing neighborhood, in the city center, or will you operate purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your school marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your school, including answering calls, planning and delivering instruction, applying for grants, fundraising, performing administrative tasks, overseeing instructors, handling discipline, scheduling and monitoring extracurricular activities, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to enroll your Xth student, or when you hope to reach $X in revenue. It could also be when you expect to expand your school to a new city.  

Management Team

To demonstrate your school’s potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing schools. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in running a school or experience with public school administration or who has served on a public school board.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you enroll 100 or 1,000 students per semester, and/or offer extracurricular activities? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your school, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a school:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your school location lease or a list of elective courses or extracurricular activities you will offer.  

Writing a business plan for your school is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the school industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful school.  

School Business Plan FAQs

What is the easiest way to complete my school business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your school business plan.

How Do You Start a School?

Starting a school is easy with these 14 steps:

• Choose the Name for Your School
• Create Your School Business Plan
• Choose the Legal Structure for Your School
• Secure Startup Funding for Your School (If Needed)
• Secure a Location for Your Business
• Register Your School with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your School
• Buy or Lease the Right School Equipment
• Develop Your School Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your School
• Open for Business

Learn more about   how to start your own school .

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to learn about Growthink’s business plan writing services .

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The more you learn, the more you grow! Get prepared with our sample business plans for education, preparation, vocational, and other training-related businesses.

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Design Thinking and Innovation

Key concepts, who will benefit, aspiring or current innovation managers, entrepreneurs, product managers, developers, and marketers.

What You Earn

Certificate of Completion

Boost your resume with a Certificate of Completion from HBS Online

Earn by: completing this course

Certificate of Specialization

Prove your mastery of entrepreneurship and innovation

Earn by: completing any three courses within this subject area to earn a Certificate of Specialization

Content Week - Clarify: Empathy and Understanding

• An Introduction to Innovation
• Clarify Through Observation
• Insights and Problem Framing
• The Right Enviroment for Creativity

Featured Exercises

Project week – clarify.

• Project Instructions

Content Week - Ideate, Part 1: Tools for Generating Ideas

• Establishing Focus with Design Principles
• The Ideation Process: Getting Started with SIT
• More SIT Tools for Ideation
• Open-Ended Approaches to Generating Ideas
• Review of Project Work

Content Week - Ideate, Part 2: User Values and Behaviors

• Design Heuristics for Generating and Refining Ideas
• Designing for Behavior Change

Project Week - Ideate

Content Week - Develop: An Experimentation Mindset

• Idea Selection and Evaluation
• Defining and Refining Your Prototype Plan
• Prototyping: From Exploration to Validation
• Leading Concept Development

Content Week - Implement: Communication and Structure

• Overcoming Developer and User Bias
• Strategies for Communicating Value
• Managing an Innovation Culture

So You Want to Be an Entrepreneur: How to Get Started

Our difference, about the professor.

Srikant Datar Design Thinking and Innovation

Dates & eligibility.

No current course offerings for this selection.

All applicants must be at least 18 years of age, proficient in English, and committed to learning and engaging with fellow participants throughout the course.

Learn about bringing this course to your organization .

Learner Stories

Design Thinking and Innovation FAQs

Could you tell me a little more about the ai course assistant chat bot.

You can think of the beta version of the Design Thinking and Innovation AI Course Assistant chat bot in two ways: like a virtual Teaching Assistant who can help you consolidate and confirm your understanding of course concepts, and as a virtual Learner Success Assistant who can help you stay on track with completing the coursework in a timely fashion. When you are finding a particular concept difficult to master, or would like additional examples of a theory, try asking the bot your question in the same way you would phrase it to a human TA. If you have a question pertaining to where or how to submit certain assignments, or one relating to deadlines or time estimates, you can also express those in a similar fashion. Please note that no preexisting familiarity or experience with generative AI is necessary or assumed to use the bot and, while we encourage you to engage with the bot and share your candid feedback on your experience, a lack of engagement with the bot will not adversely impact your eligibility for a certificate of completion.

What are the learning requirements in order to successfully complete the course, and how are grades assigned?

Participants in Design Thinking and Innovation are eligible for a Certificate of Completion from Harvard Business School Online.

Participants are expected to fully complete all coursework in a thoughtful and timely manner. This will mean meeting each week’s course module deadlines and fully answering questions posed therein. This helps ensure participants proceed through the course at a similar pace and can take full advantage of social learning opportunities. In addition to module and assignment completion, we expect you to offer feedback on others’ reflections and contribute to conversations on the platform. Participants who fail to complete the course requirements will not receive a certificate and will not be eligible to retake the course.

More detailed information on course requirements will be communicated at the start of the course. No grades are assigned for Design Thinking and Innovation. Participants will either be evaluated as complete or not complete.

What materials will I have access to after completing Design Thinking and Innovation?

You will have access to the materials in every prior module as you progress through the program. Access to course materials and the course platform ends 60 days after the final deadline in the program.

At the end of each course module, you will be able to download a PDF summary highlighting key concepts used throughout the course. At the end of the program, you will receive a PDF compilation of all of the module summary documents. We hope the module summary documents will serve as a helpful resource after you finish the course.

How should I list my certificate on my resume?

Once you've earned your Certificate of Completion, list it on your resume along with the date of completion:

Harvard Business School Online Certificate in Design Thinking and Innovation [Cohort Start Month and Year]

List your certificate on your LinkedIn profile under "Education" with the language from the Credential Verification page:

School: Harvard Business School Online Dates Attended: [The year you participated in the program] Degree: Other; Certificate in Design Thinking and Innovation Field of Study: Leave blank Grade: "Complete" Activities and Societies: Leave blank

Description: Design Thinking and Innovation is a 7-week, 40-hour online certificate program from Harvard Business School. Design Thinking and Innovation will teach you how to leverage fundamental design thinking principles and innovative problem-solving tools to address business challenges and build products, strategies, teams, and environments for optimal use and performance.

The program was developed by leading Harvard Business School faculty and is delivered in an active learning environment based on the HBS signature case-based learning model.

What is the project?

Beginning in Module 2 of Design Thinking and Innovation, you will apply the tools you learn in the course to an innovation problem that is important or interesting to you, or you can use a provided scenario. In subsequent modules, you will use your earlier responses to build on your innovation project and make each phase of design thinking relevant to your own work.

Do I need to collaborate with others to complete the project?

No, each individual submits their own work in Design Thinking and Innovation, and all project work can be submitted without sharing it with others in the course. You are encouraged to share with others and ask for feedback, but collaboration isn’t necessary to advance through the course.

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• Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
• Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
• Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
• Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.
• Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
• Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
• Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
• Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
• Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
• Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.
• Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
• Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
• Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
• Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
• Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
• Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
• Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
• Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
• Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.
• Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
• Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
• Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
• Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.
• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
• Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
• Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

Take The First Step Towards Success With our AI-Generated Business Plans

Personal Finance

How to start an online business in 8 steps.

Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.

The internet has reshaped where, when, and how people shop for goods and services. The popularity of digital shopping has opened a world of opportunities for online business owners. With a computer and a stable internet connection, you can work from anywhere, set your own schedule, and sell to customers worldwide while avoiding the hassle and costs of owning a brick-and-mortar business.

Whether you're just starting to brainstorm about the best online business ideas or already have a concept in mind, here are some tips for getting your business up and running.

8 Ways to start your online business

1. establish a business niche.

If you haven't done so already, you'll need to decide what you want to offer and who your target customers will be. Here are a few factors to consider:

Your interests

Mark Twain once said, "Find a job you enjoy doing, and you will never have to work a day in your life." While only some would agree with this work/life approach, it's a good starting point for choosing a business niche. Think about your passions, skills, and expertise, then focus on ideas where they intersect.

Target audience

Consider your target audience and whether they have a problem no one else is solving or a product no one else is providing. If so, do they have the discretionary income to afford your product or service and are they willing to pay for it? Will there be adequate demand?

Profit potential

Consider if your niche has profit potential in an online environment. For example, an overly large or heavy product may be too expensive to ship at a reasonable cost. Is the idea scalable so you can accommodate more customers and transactions in the future?

2. Choose a business model

A business model is how your company will provide products or services to customers and make money. Some options to consider include:

• Affiliate marketing. Promote other businesses and receive a commission for each sale you make.
• Coaching and consulting. Share your expertise and offer guidance.
• E-commerce. Launch a website and sell products online using one of the best payment gateways .
• Franchising. Pay a franchise fee and operate under an established brand.
• Freelancing. Offer a service such as writing, programming, web design, or social media marketing.
• Information products. Create and sell eBooks or online courses.
• Subscriptions. Package software or subscription boxes and charge a recurring fee.

3. Write a business plan

A good business plan outlines the steps to start and manage your business. The important thing is to think through the key elements of your venture while focusing on your goals. According to the Small Business Administration (SBA), a traditional business plan format includes some combination of the following:

Executive summary

Explain what your company is and why it will be successful. This section should include your mission statement, product or service, basic company information, and financial details if you need financing.

Company description

Provide detailed information about your company: the problem it solves, your target audience, and your competitive advantages.

Market analysis

Explain your industry outlook, what other businesses are doing, and how you can do it better.

Organization and management

Outline who will run your company and how it will be structured. Will it be a general or limited partnership, a C or S corporation, limited liability company (LLC), or are you a sole proprietor?

Service or product line

Describe the product or service you offer, explaining how it benefits your target customers.

Marketing and sales

Explain how you will attract and retain customers and the steps for making a sale.

Funding request

Explain the level of funding you'll need over the next five years and how you'll use it. Include financial projections detailing your forecasted income, cash flow, and budgets. Research how to get a business loan , and familiarize yourself with the SBA website to learn more about its loan programs.

4. Develop your brand

Once you know what you'll sell and how you'll run the business, developing your brand is next. You'll have to choose a business name and create a logo. This process can be relatively simple if you already have ideas in mind—or challenging if you're starting from scratch. You might want to hire a graphic designer to implement your vision.

5. Create a website

Once you have developed your brand, it’s time to build a website. You’ll need to lock in a domain name and choose a hosting service. There are website builders, such as Squarespace , available to help you get started—or you can hire someone to do the work for you.

6. Cover legal bases

The next step is to make your business official. While the requirements vary by business, here are the essential action items:

Register your business

Registering with your state gives you legal grounds to use your brand's name. You can utilize a service like LegalZoom to register as a sole proprietor, LLC, corporation (C corp or S corp), nonprofit, or DBA (doing business as). Consult a tax specialist for help choosing the best business structure for your situation.

Apply for an EIN

You'll need an Employer Identification Number (EIN)—a federal tax ID—to pay federal taxes, apply for business licenses and permits, open a business bank account , and hire employees. You can apply for an EIN for free on the IRS website . The IRS says to beware of websites that charge for this free service.

Licenses and permits

Depending on your business activities and location, you may need licenses and permits from your state, county, or city. Check with your state's website (e.g., ca.gov, nc.gov) to determine your necessary licenses and permits.

Most businesses must file an annual income tax return, and the form you use depends on how your business is structured. Online services like Found, a banking and tax app designed for small business owners, have tools to make keeping track of taxes easier. It's also helpful to establish a relationship with a trusted tax specialist.

7. Market your business

Once your online business is ready for the world, it's time to market it. While marketing strategies vary depending on your business model and target audience, here are a few options to consider:

• Include your brand in online directories.
• Create social media profiles and share high-quality content often.
• Launch compelling email marketing campaigns.
• Use SEO best practices to optimize your site for search engines.
• Collaborate with influencers to promote your brand.
• Leverage your network—including professional contacts, friends, and family.

8. Reward customer loyalty

Keeping existing customers happy is often easier than generating new leads, so it can be worth the extra effort to reward them for their loyalty. Consider offering discounts to repeat customers or perks to patrons who refer friends and family. You might also provide spending-based rewards or incentives for sharing positive reviews on social media.

Of course, one of the best ways to reward loyalty is to connect with your customers personally, making sure they always feel welcome and appreciated. That way, they'll be more likely to become repeat customers, recommend you to friends and family, and help you grow a thriving online business.

Why should you consider starting an online business?

Consumers increasingly prefer shopping online, providing virtually unlimited opportunities for digital entrepreneurs to reach a global audience. Further, many of the traditionally time-consuming aspects of starting a business have been simplified—and made more affordable—by websites such as LegalZoom .

One outcome of the pandemic was the emergence of new and enhanced tools that make remote work not only possible, but more efficient. As a result, it's easier than ever to work anywhere in the world with a laptop and a reliable internet connection.

How to save when starting an online business

Businesses have a slew of start-up costs that can be difficult to manage before you're up and running. Here are a few ways to make balancing the budget a little easier.

Rewards credit cards

A business credit card is an excellent way to keep your business and personal expenses separate for accounting purposes, but that's not the only perk. With the best small business credit cards , you can also earn rewards on your spending, enjoy perks like free travel insurance, and score a hefty welcome bonus.

Tax prep software

A good way to save money in the early days of your business is to use upgradable tax prep and other business-related software. Start with the free version, then upgrade to the premium package once your business takes off.

Payment processing

You'll need a payment service provider to accept online payments. Not surprisingly, some payment solutions are more expensive than others. For example, Square charges 2.9% + $0.30 for online transactions, while Venmo costs 1.9% + $0.10 between Venmo accounts. Of course, fees shouldn't be the only consideration when choosing a payment service provider. Still, they're worth paying attention to; even small differences can add up over time.

TIME Stamp: Research and strategy are key to success

Starting an online business involves many of the same steps as opening a brick-and-mortar business. You’ll need to determine your niche, conduct market research, craft a well-thought-out business plan, and develop a brand and website. Implementing a successful marketing plan is also key to building and retaining a solid customer base.

Frequently asked questions (FAQs)

What is the best type of online business to start.

The best online business for you depends on your professional background, skills, interests, and goals. Think about what you're good at and enjoy doing, then brainstorm ideas for monetizing it.

Which kind of online business is most profitable?

There are a wide variety of online businesses ranging from e-commerce to private tutoring. How profitable one is over the other depends on a number of factors. The start-up and ongoing costs of some are nominal compared to others. For example, an online tutoring business would typically have much lower costs than selling collectibles online. Demand, competition, and how well an online business is managed also impact profitability.

Can I start an online business with $100?

You can start an online business on a shoestring budget. With $100, you’ll be able to buy a domain name, build a basic website (using a free template), and publish the site through a web hosting provider long enough to get you started. Of course, some ventures have higher start-up costs, so you may well need considerably more than $100, depending on your business.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.

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Rules and Eligibility: New York StartUP! 2024 Business Plan Competition

1. entry form.

Competition entrants must complete an online entry form in the New York StartUP! 2024 Business Plan Competition site to enter the competition. (This competition will hereafter be known as “NY StartUP! 2024.”)

All NY StartUP! 2024 applicants, whether individuals or members of a team, must be 18 years of age or older to win a cash prize. Documentation may be required.

3. Location

The business proposed in the NY StartUP! 2024 entry form must operate in Manhattan, The Bronx, or Staten Island.

4. Residency

All individual applicants and team members must be legal residents or U.S. citizens. All individual applicants and/or team leaders must have a legal residence in Manhattan, The Bronx, or Staten Island. Documentation will be required of the finalists.

5. Start-Ups Only

All businesses must have ideas or business models in the start-up phase. Operating businesses that have earned more than $10,000 in revenue are not eligible to enter the competition.

6. For-Profit Businesses Only

NY StartUP! 2024 is a business plan competition for for-profit businesses. Non-profits are not eligible to enter.

7. Individual and Team Entry

NY StartUP! 2024 entrants may enter only once, either as an individual or as part of a team. If entering as a team, the team must appoint one individual as the team leader and main contact, and one other as the secondary contact. The team leader must be a resident of Manhattan, the Bronx, or Staten Island. The team leader's entry form must list all individuals on the team. 

8. Orientation

All participants must attend an online Orientation Session. 

9.  Entry Form

Entry forms must be submitted on the NY StartUP! 2024 site no later than 11:59 PM on May 31, 2024.

10. Training Workshops

All eligible individual entrants and either the leader or secondary member of an eligible team are required to attend all four (4) virtual training workshops held from May 2024 through September 2024.

11. Meet with a Business Librarian

Each applicant must meet at least once with a business librarian during the competition.  Click here to schedule a online consultation.

 12. Meet with a Business Advisor

Each applicant must meet at least once with a business advisor during the Competition. Click here for a  list of advisory groups .

13. Deadline

Your Business Plan must be uploaded to the StartUP! Competition site no later than 11:59 PM on                        September 18, 2024.

14. Judging   Criteria

Applicants must read and become familiar with the Judging Criteria and Elements of a Business Plan template.

15. Ineligibility

Employees or their family members from either The New York Public Library or Wells Fargo are not eligible to enter NY StartUP! 2024 either individually or as any part of a team.

16. Finalists

Finalists will be asked to provide their 2023 tax return and a New York State driver's license or New YOrk State non-driver ID card.

17. Disbursement of Funds

Prize money will be awarded to each winner following the end of the competition. The winning NY StartUP! 2024 entrants or teams will have sole responsibility for deciding how to allocate or otherwise use the prize proceeds.  Please note that the awards are taxable and that The New York Public Library must have the winner’s Social Security number before a check can be issued.

18. Selection of Winner

All decisions of the judges are final.

19. Confidentiality

By the submission of your Business Plan, you understand and agree that a short description of your Business Plan will be considered a “public summary” of your plan and may be used in public documentation related to the competition. The Library will provide a copy of your business plan to competition staff and judges and will inform them that no additional copies are to be made. 

20. Disqualification

​​​​​​​ Violation of any one or multiple rules for eligibility will result in disqualification from NY StartUP! 2024 at any point.

Please Note: Interpretation and enforcement of these regulations are at the sole discretion of The New York Public Library and the decisions of the judges are final.

Questions about the StartUp! Competition? Contact  [email protected] .

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Online marketing for beginners: 10 paid and free courses to start with

Fortune Education is part of Fortune Recommends™ and is editorially independent. We may earn affiliate revenue from links in this content.  Learn more .

In today’s digital marketplace, personalization is king. Hubspot’s The State of Marketing 2024 report underscores this, revealing that 75% of marketers credit personalized experiences with boosting sales and customer loyalty. This strategic focus is reshaping companies’ online narratives, directly influencing a return on investment (ROI) and growth trajectories.

The digital realm demands a deep understanding of consumer behavior, market trends, and keeping up with technological trends and advancements. For those carving out a career in digital or online marketing, you’re in an era where science meets creativity. 

Digital Marketing Certificate

The competitive edge your business needs

at Noble Desktop

Dr. Jonah Berger, a Wharton School professor at the University of Pennsylvania and bestselling author of books like Magic Words and The Catalyst , views the right digital marketing course as a critical piece in the puzzle of success.

“If you already have your product, a class can teach you how to get it to the right customers,” he asserts. Berger emphasizes the versatility of digital marketing education, noting that it can guide entrepreneurs in everything from product design to startup selection.

He advises prospective students to first identify their needs and desired outcomes before choosing a course. “The more that courses help you address a particular tactical need you have, the better off you’re going to be,” he explains. He encourages focusing on “modern marketing” trends such as customer centricity, highlighting the shift towards prioritizing the customer’s perspective over the product or service.

For Berger, truly successful digital marketing lies in “the marriage of data science and behavioral science.” He stresses the importance of understanding customer decision-making while leveraging data for deeper insights. This approach is paramount in a landscape dominated by search engines, social media, and omni-channel marketing strategies.

For those interested in working in the online marketing industry, taking a course can be an effective way to build a solid foundation. Fortune compiled a list of both free and paid online marketing courses you can take on your home computer to help you add the skill to your digital toolbox. 

5 free online marketing courses

Enrolling in a free course can give you the necessary skills to get started without breaking the bank. These five free online courses teach digital marketing at an introductory level. Each varies on program length but offers generalized coursework. The list is in alphabetical order.

1. CareerFoundry: Digital Marketing Program

This one is for people who don’t have a lot of time but still want to dip their toes in the digital marketing waters. To figure out if digital marketing is right for you, CareerFoundry can send you a free five-day short course to your email inbox. Each lesson takes around 15 minutes, offering barebones instruction to the world of digital marketing and making a career change. It’s worth noting that the content you receive is the beginning lessons of a much more robust, four to seven-month long, $6,900 immersive, should you want to opt for the paid version. 

2. Google: Fundamentals of Digital Marketing

This 40-hour course, offered by one of the most popular search engine companies, teaches digital marketing at an entry-level . The 24-module class, accredited by the Interactive Advertising Bureau Europe and The Open University, contains hands-on exercises.

Tutorials include topics like making it easy to find a business on the internet and reaching customers through email and video. After passing each tutorial, the course offers one final assessment, and after taking and passing that, you will receive a sharable award to add to your LinkedIn profile.

3. Meta: Blueprint

Facebook’s parent company, Meta, offers 36 free courses in its Blueprint program . The program aims to give learners fast, self-guided digital marketing walkthroughs and training on sites like Facebook, Messenger, Instagram, and WhatsApp. Topics range from bringing your business online and establishing marketing goals to attracting an audience and making creative Instagram Stories. 

4. Simplilearn: Digital Marketing Strategy

This free course by Simplilearn consists of seven main modules, each containing a self-paced string of video lessons. It aims to provide learners with an introduction to the digital marketing landscape. 

In two hours, you will learn about customer segmentation and persona, plus you’ll learn how to conduct market research and create a marketing calendar. After each chapter, there is a knowledge check, and after completing the class, you will receive a certificate of completion. According to the site, more than 25,000 people have enrolled in this course.

5. Udemy: Marketing on Instagram 

This introductory course from Three Sixty Academy , offered on the Udemy platform, teaches learners the fundamentals of Instagram marketing and how to increase your follower base and maximize ROI. The course consists of nine tutorials over the course of 40 minutes. According to the site, more than 30,000 students have enrolled in this course. 

5 paid online marketing courses

Taking paid courses can be an effective way to learn marketing concepts and practical applications. By paying for a course, you can access comprehensive content and detailed explanations in a structured learning environment. This can help you gain a deeper understanding of the subject matter and improve your skills. Courses are listed in alphabetical order.

1. Coursera: Introduction to Digital Marketing

Coursera has a beginner-level course that lasts for around nine hours and is taught by Steve Fritzenkotter, a continuing education instructor from the University of California, Irvine. The course covers everything from search engine marketing and two-way communication with customers to storytelling and reputation management. 

According to the site, it’s free to start, but after a seven-day trial period, you’ll be required to pay $49 monthly. The subscription gives you access to all of the lectures, assignments, knowledge checks, discussion forums, and even a certification of completion. Lastly, the course has more than 10,500 enrollees. 

2. eCornell: Assessing Opportunities in Paid Digital Media

eCornell’s online paid media course covers the basics of search engine marketing, email marketing, and video marketing through a paid lens. The course tackles topics like social media and mobile ads and will guide you through the process of drafting a paid media marketing plan. 

This two-week, fully online, instructor-led course is targeted towards marketing managers who want to understand the role digital marketing plays in an organization. The course is priced at $1,199 and is part of eCornell’s Digital Marketing program, which is priced at $3,699 and includes four courses. After completing the entire program, you will have earned a certificate.

3. Harvard Business School: Digital Marketing Strategy

Harvard Business School Online’s digital marketing course is seven weeks long, self-paced, and contains six modules. The key concepts taught are the evolution of marketing, different approaches to budget allocation, and customer engagement techniques like storytelling and personalization. 

The featured exercises include building a practice budget, calculating a customer’s lifetime value, and advising a real-life company on its marketing plan. The course costs $1,750, and the application is free, but you must be at least 18 years old to apply. 

4. LinkedIn Learning: Advance as a Digital Marketing Specialist

LinkedIn Learning’s digital marketing career path is a comprehensive program with nine courses. Each one is more than ten hours long and is designed to teach learners how to create effective customer touchpoints, develop content strategies, and gain expertise in SEO and analytics. Upon completing the program, students receive a certificate that can be added to their LinkedIn profile.

The lectures are delivered by industry experts Brad Batesole, who teaches part-time at California State University Northridge, and Marta Dapena-Baron, a former marketing lecturer at the University of Michigan and Cornell University.

To access this course path, users must subscribe to the service. The subscription costs $379.88 per seat per year, with a two-seat minimum requirement for teams.

5. Udemy: The Complete Digital Marketing Course—12 Courses in 1 

This $199.99 course offered by Udemy teaches students how to master digital marketing strategy and the fundamentals of social media, SEO, YouTube, email, X (formerly Twitter), Quora, and Facebook marketing. Taught in 17 languages over 22.5 hours of videos and articles, it also teaches you copywriting, making a website, and performing market research. 

According to the site, the course comes with a 30-day money-back guarantee, and it caters to three target audiences: individuals who wish to enhance their skills for job opportunities, website owners looking to boost their traffic and sales, and pre-launch business owners who are unsure where to begin.

Things to consider before enrolling in an online marketing course

If there’s one takeaway from this article, it’s that there are a lot of options in terms of the kinds of courses you can take. An overwhelming number of options can lead to analysis paralysis, so it’s important to remember that while some courses might sound great, they might not give you the exact results you’re looking for. 

Before spending your hard-earned cash or wasting your time with any marketing course, consider these factors:

• Hands-on practice : According to a report by the U.S. Department of Education ,  the term “hands-on approach” refers to guided instruction through experience. “It’s one thing to hear somebody say something. It can be quite another to make sure you can apply that thing,” Berger says. “It’s important to learn from others, but you need to make sure you can apply those learnings as well.” 
• Reviews : Berger says that word of mouth is another powerful tool in determining what you should spend your money and time on. “When I am making a tough decision, I turn to others—either looking at reviews online or talking with people offline—to understand what other people think and help make better decisions.” Sites like Udemy and Simplilearn provide ratings on the front pages of courses. 

So, what is the best online marketing course to take?

The best online marketing course is the one that best suits your needs. While you can scroll through thousands of TikTok and YouTube videos to pick up key information, a structured course can give you the backbone you need to improve your digital marketing skills. 

Whether you want to learn for free or for money, there’s an option for everyone. But if you’re still on the fence about taking an online marketing course, hear Berger’s advice: 

“Marketing touches almost everything we do—we all have a customer. Brand managers sell products, B2B companies sell services, leaders sell ideas, doctors convince patients to take medicine, lawyers try to convince their clients to take action, and employees try to convince their bosses.”

He explains that whether we interface with our customers, spouses, or children, we aim to understand them and meet them where they are. “It’s about understanding who you’re interacting with and delivering them value.” If that sounds interesting to you, then digital marketing could be a good career path. 

Fortune outlined the path you need to take to become a digital marketer , and we also compiled a list of 16 entrepreneurial classes you can take online now .

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