Collaborative post – may contain affiliate links
Education is often seen as a vocation, but the sector is so large – and so consistently in-demand – that it is no surprise that education can also be a business opportunity. In fact, the education market is expected to be worth $2040 billion by 2026, so it’s fair to say that for those seeking a business opportunity, education could well be worth considering.
The question, however, is what type of education-related business a prospective entrepreneur could start – and it’s a question we have sought to answer, with the three options below all providing the opportunity to find your place in the ever-growing education marketplace.
Option #1: Set up a school
It may sound like an outlandish suggestion, but if you’re thinking big and want to do something genuinely different, then setting up an educational establishment could well be the right choice for you. There are countless options to consider, ranging from nursery schools to higher education colleges to vocation-specific schools, so you should be able to find an option that will work well with your existing schools and interests.
It’s also important to note that you don’t need to be a teacher to start a school, either; there are countless options such as working with vocational, primary or higher ed search firms in order to locate the talented personnel you need. Your responsibility as the owner will primarily be to manage the finances of the school, and ensure that you are compliant with all local and federal regulations as appropriate. So while the idea of starting a school may initially seem odd, it could actually be more viable than most people expect.
Option #2: Provide courses to teachers
Many schools and educational establishments regularly advise their teachers to take additional professional development courses on a variety of different subjects, including health and safety, classroom management, and team building courses. The vast majority of these courses will be provided by an external company, which means you have the opportunity to start such a company and market directly to schools.
You will, of course, need to satisfy a variety of legislative requirements in order to offer courses, especially if you intend to offer courses related to any aspect of health and safety. With that said, all business types have regulatory requirements, and if you’re passionate about helping teachers reach their full potential, then starting a business offering professional development courses could lead you to a bright, fulfilling future.
Option #3: Sell stationery and school supplies
Finally, a more ‘conventional’ business choice, but one that can undoubtedly be successful for those in the education sector. The business concept is simple: you buy stationery and other school supplies at a low price, then sell them directly to schools – or teachers, given that 94% of teachers spend their own money on school supplies – at a profit.
While this idea may be simple, it’s undeniably effective provided you can purchase goods at the right price. It’s also perhaps the one idea on this list that requires relatively little startup capital, so you could start small and then expand as your profits begin to grow.
By considering one of the ideas above, you may well find that education is the perfect sector in which to reach entrepreneurial success. Good luck!