Start An Online Courses Business
About
Starting an online courses business 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 start an online courses business β
Key stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
| Office Space Expenses | $750 | $7,000 |
| Equipment & Supply Expenses | $500 | $5,000 |
| Training & Education Expenses | $0 | $1,000 |
| Software Expenses | $0 | $594 |
| Advertising & Marketing Costs | $0 | $2,750 |
| Website Costs | $13 | $215 |
| Other Expenses | $0 | $500 |
| Specific Industry Expenses | $0 | $100 |
| Total Startup Costs | $1,263 | $17,159 |
Case Studies
β’
$350/mo
β’
$4K/mo
β’
$120K/mo
β’
$120K/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
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 |
|
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 |
|
University of Mississippi | olemiss.edu | #31,305 |
|
University of Massachusetts Boston | umb.edu | #34,320 |
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 courses business costs significantly less money than most businesses, ranging anywhere from 1,263 to 17,159. |
| Rewarding work | Starting a online courses business 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 courses business 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 courses business, 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 courses business in order to stay relevant for your audience and for those searching on google. |
| Lack of benefits | With a online courses business, 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 courses business, you typically work alone and do not have much face-to-face interaction with other team members. |
| Taxes | As a online courses business, 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 courses business, 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.
-
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.
-
3
Word of mouth
Word of mouth is when a consumers reflects their interest in a companyβs 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 todayβs hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
"An amazing network of founders that truly want to help each other grow their business."
