Education Business Ideas in India: Going Farther Through Education
Consistent with India’s economic boom is the government’s parallel approach to raising the level of literacy, knowledge and skills of its local workforce.
However, India would only be able to do it by offering economic perks that would lure in private entities into engaging in the business embarking on education.
Why not? The country has a population of about 1.35 billion people. Furthermore, 33 percent of people are in their schooling years, covering primary, secondary, tertiary and skills training. Thus, the education business is very lucrative, especially with a state supporting education of their younger citizens.
Facts and Figures in India’s Education Sector
The government’s idea is basically anchored on helping local folks to garner more knowledge through education and skills via training. As such, the government has enacted laws giving economic perks and opening opportunities for individuals and entrepreneurs.
The approach has been very effective. In fact, a 2018 report saw India’s higher education sub-sector related businesses grow by US$ 30 billion.
The same report likewise attributed the phenomenal increase in the number of Indian nationals landing jobs in the Business Process Outsourcing Sector. Many got work as call centre agents where they further trained to speak fluent English.
This development alone saw India notch the 34th spot in a list of 100 countries in the 2019 English Proficiency Index.
On top of English proficiency, Indian nationals also got to learn the modern-day technology embarking on the internet.
Start-Up Education Business in India
To date, there are over 41,000 colleges and universities in India. Adding on to this impressive number, there are about 35 million students in higher education alone.
Unfortunately, even if the number huge, it still is lower than the target of the government.
What India actually wanted is a preferential focus on skills development initiative. The country considers the initiative to be an essential aspect of moulding its huge workforce.
News articles earlier hinted at India’s Central Government embarking on a US$ 1 billion disbursement incentive to topnotch individuals and entities with the capability of bringing in an effective skill development program. The initiative targets some 400 million young Indian nationals to enroll in Industrial Training Institutes.
Amid an open invitation plus perks for individuals and investors to ponder on education business ideas in India, the government is allocating US$ 57.23 billion for top-notch learning institutions to teach some 10 million Indian nationals every year.
But what exactly are the education business ideas that best fit and are profitable in India?
7 Education Business Ideas in India
We list the are seven top choices that are fit and profitable. Unsurprisingly, most of these education business ideas use the internet as a medium.
Locators
Among these education business ideas embark on web-based locator service. There are already existing websites and mobile apps offering to help one find the perfect tutor for regular online sessions complementing formal education. This particular business earns via the locator’s fee. Online tutors are deemed effective because of its one-on-one approach. However, the government still finds it short of its target of educating 400 million of their young nationals. Hence, there is a need for more tutor locators.
Online Tutoring
This particular education business idea may, or may not require locators. A teacher on their own may in fact make use of social media as a platform to promote his or her teaching services. Given the magnitude and extent of the social media, these online tutoring services can even do the actual tutorial on Facebook, Skype, Viber, Google Meet, among many other web-based apps offering video calls, video chats, teleconference, virtual meetings, etc. Online tutors may earn from an hourly rate or based on a modular package.
Online Hobby Classes
Hobby classes can also be useful and profitable. Mentors may teach how to cook, sing and dance, DIY assembly-repair or anything of one’s personal interest through flexible, short-term online classes anywhere, anytime. This educational business idea allows online mentors to run a school without actually putting up one. A small kiosk with an internet-connected computer will do. An online business of this type may earn from the minimal fees or through the pay-per-click option.
Online Lesson Exchange For Teachers
Being a teacher doesn’t necessarily mean having a database of lessons for their classes. And that is exactly why there is a need for a databank just for the teachers. This is where teachers, tutors, mentors and may get the updated educational materials related to the subject they’re teaching. This modern-day innovation eliminates the tedious process of preparing lesson plans, day in and day out. It can also teach the teachers stuff they don’t know. Each module has corresponding rates.
Online Library for Students and Researchers
If teachers, mentors, tutors and coaches have an online database for their lessons and topics, so do the students and researchers. An online library is just like the typical library where one could find encyclopedias, reference books, almanacs, atlas, journals, novels, images, comic books, etc. It is basically going to the national library without even leaving the comfort of one’s home, at one’s palm. Earnings come from downloaded information, hourly reading rate and modules.
Entrepreneurial School
In a country which is one of the world’s top choices for startups, local entrepreneurs would have to learn too, that is if they want to compete with foreign entrepreneurs. Availing knowledge from entrepreneurial school gives one the leverage over those who didn’t take up formal business classes or training at the very least. This education business idea earns the conventional way. Earnings come from tuition fees, miscellaneous fees, among usual charges from other typical schools.
Educational Toys
Of the seven education business ideas in this article, production of educational toys is the only one that doesn’t embark on the internet. As the name “toy” suggests, this educational business form exclusively targets learning children. It is through educational toys that children are made to study while playing. Educational Toys for Children isn’t a new idea. It has been in existence since who knows when and has remained profitable to date. Educational toys may be in the form of puzzles, shapes, colors, games, illustrated books — or even electronic gadgets. There is one glitch though, it is best to come up with new toy ideas amid the proliferation of educational toys in the market.
Learn More from Us
Understandably, people in the education business won’t be where they are if they don’t know the ins and outs of the education sector. However, it is equally important to know other stuff outside the academic circle.
However, academic knowledge alone may not be enough to get one of these seven education business ideas going. Those yearning to get into any of these are advised to consider tapping business setup experts.
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