The number of people running businesses online is at an all-time high, and from e-commerce and drop shipping to affiliate marketing, opportunities in the digital space abound. But one area that is enjoying a significant surge at present is online education, with a new wave of entrepreneurs cashing in on courses, webinars and a host of other innovative ways to share and teach knowledge through digital mediums.
Gone are the days of the traditional model of education, which was characterised by classrooms, textbooks, and in-person lectures, and while these still exist as they always have, a growing number of us are seeking out new ways to learn from anywhere, anytime. Innovators like these have made learning more convenient and accessible than ever before, allowing anyone to squeeze a session into their day with minimal disruption. And by all accounts, online education is a hugely lucrative sphere, with the global demand for flexible learning allowing all types of online learning platforms to command high-ticket prices for the privilege.
From learning apps to essay writing services, here, we take a look at some of the thoroughly modern ways entrepreneurs and businesses are cashing in on online education.
Online courses and learning platforms
One of the most significant developments in online education is the proliferation of online courses and learning platforms and from business skills and languages to digital marketing and coding, it’s now possible to engage in deeper learning and increase your knowledge about just about any topic through these mediums.
Platforms like Udemy, Coursera, and Teachable are of particular note, and have made it easy for course creators to share their knowledge with a global audience without having to allocate a substantial budget to marketing their offerings themselves. Allowing educators to create video lessons, interactive quizzes, and downloadable resources that they can list on these marketplace-style sites and sell them to students worldwide, they have become immensely popular over recent years. And for educators, focusing on this savvy ‘one to many’ approach has allowed them to enjoy more freedom in their lives, only needing to create the course once before selling it many times over and enjoying ongoing semi-passive income as a result.
Some entrepreneurs have turned this into a full-time career, with top instructors earning six-figure incomes from their courses alone, and with no formal qualifications needed to create and sell courses like these, it has opened up a whole new world of possibilities for those with knowledge to share.
Subscription-based learning
Another profitable avenue in the online education space is the subscription-based model. Services like MasterClass and Skillshare offer users unlimited access to a vast library of courses for a monthly or annual fee, allowing users to learn at their own pace, which many find is more convenient than committing to a more intense course. Offering variety and flexibility for learners, it also works well for the entrepreneurs behind them by providing a steady stream of recurring revenue, and this more consistent way of making money is preferable for some because it makes it easier to plan financially where the more sporadic sale of one-off courses does not.
Delivering high-quality and exclusive content and with industry experts and the occasional famous face as instructors, collaborating with others within the field to offer a premium learning experience allows subscription-based platforms like these to command higher prices and successfully position themselves at the higher end of the market.
Essay writing services: A controversial but lucrative market
One of the fastest-growing and most controversial sectors in the online education market is essay writing services, which have enjoyed a spike in popularity amongst students requiring help with completing their academic assignments for school, college, university or online courses they have undertaken. Thanks to the growing pressures of academia and the convenience of the internet’s global reach, both supply and demand are at an all-time high, and providers of such services can again command substantial price tags for essays that promise to get students their desired results.
So if you’ve ever wondered, ‘can I get someone else to do my dissertation for me?’ the answer is yes – but while these services are in high demand, they are also the subject of ethical debates, as they raise questions about academic integrity and the potential for misuse. Nevertheless, in 2024, the market is booming, with some businesses reportedly earning millions of pounds in annual revenue.
Tutoring and coaching
Once upon a time, online coaches were few and far between, but these days it’s possible to find someone ready to provide one-on-one education and support on just about any subject you can think of.
From nutrition to business and personal development, most coaches within the space are independent and often charge eye-watering prices for their focused support, but for tutors, online platforms like VIPKid and Tutor.com have made it easier for them to scale more quickly by connecting students with tutors from around the world.
