Create An Online Course - Business Ideas

Create An Online Course - Business Ideas
Create An Online Course

Online course businesses are one of the fastest-growing online business models. Creating an online course is an awesome way to generate extra income because it allows you to monetize the knowledge you already have. More people are taking online courses every day, and the COVID pandemic has accelerated that, with some online learning platforms having seen 15-folds growth in the number of users.

Another advantage is that these new platforms are so easy to use for instructors that you don't have to worry at all about the tech side of the business. You just need to focus on creating exciting content that is informational & engaging at the same time.

Starting an online course allows you to eliminate some of the huge costs associated with setting up a physical training facility, and it's a great way to reach as many people.

Createing an online course requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell online course, or selling online course online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to create an online course ➜

Key Stats

revenue (monthly)
$117K
starting costs
$7.49K
gross margin
75%
time to build
150 days
growth
Email marketing
business model
E-Commerce
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Training & Education Expenses $0 $1,000
Software Expenses $0 $594
Advertising & Marketing Costs $0 $2,750
Website Costs $13 $215
Specific Industry Expenses $0 $100
Equipment & Supply Expenses $240 $3,200
Total Startup Costs $253 $14,859

Successful Businesses

Business URL Rank
Khan Academy khanacademy.org #375
Course Hero coursehero.com #436
edX edx.org #926
Thinkific thinkific.com #2,283
Udacity udacity.com #2,993
Harvard Business School hbs.edu #5,691
ClickMeeting clickmeeting.com #6,461
DropShip Lifestyle dropshiplifestyle.com #7,797
Spartans Online online.sjsu.edu #9,032
ImagineU Summer Entrepreneurship Accelerator memphis.edu #28,338
Stukent, Inc. stukent.com #30,888

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a online course costs significantly less money than most businesses, ranging anywhere from 12 to 14,859.
Rewarding work Starting a online course can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
Traffic to your website A online course gives people a reason to visit your website and to keep coming back to you!
Cons Description
Crowded Space Competition is high when it comes to your online course, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Constant maintenance of publication You may find yourself constantly needing to update your online course in order to stay relevant for your audience and for those searching on google.
Lack of benefits With a online course, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a online course, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a online course, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a online course, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

    Learn more about affiliate program ➜

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

    Learn more about direct sales ➜

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

    Learn more about word of mouth ➜

Pat Walls,  Founder of Starter Story
Want to start your own business?

Hey! 👋I'm Pat Walls, the founder of Starter Story.

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