Half of the U.S population will work on their own within the next five years. This fundamental shift in working practices can be accredited to the rise of technology and now – the pandemic home-isolation.
In the middle of this situation, children are still in need of quality education. Parents could also focus on their work. Thus a significant opportunity arises for people savvy enough to jump into the world of virtual teaching.
We shall go step by step and explain how to set up your own virtual kindergarten business.
Google’s data shows a rise in people looking for terms like “online course” as soon as lockdown measures began
According to the U.S. Bureau of Labor Statistics, daycare businesses will see some of the fastest employment growth in all industries through 2020.
Now is an excellent time for opening a virtual kindergarten.
With this knowledge in mind, let’s proceed to look at the requirements to set up a virtual kindergarten.
Requirements to start
The initial investment needed to set up your home workspace depends on how elaborate you want to be. It can range from 1300$ to 5000$.
You will need:
- A stable and fast internet connection(Up to 50$)
- A computer, preferably mid-price range at least. So that you could run most software available on the market. (Up to 800$)
- Working website(No need for it to be fancy, use platforms like Wix, Squarespace, etc. to set it up)(200$)
- Good webcamera and microfone (250$)
Pick a suitable kindergarten method :
• Reggio Emilia
• Forest School
Zoom or other equivalents (Free, paid options available)
Starting a virtual kindergarten can be a cost-efficient endeavor. Suppose you keep in mind some key areas that might incur avoidable costs, such as custom software packages. In that case, that might seem like an excellent investment at first, but become quite a financial burden if not managed properly.
• Ability to dedicate large amounts of time
• Degree in pedagogy/teaching
The main product is your time and expertise.
Thus the ability to work with as many children as possible while maintaining the quality of work standards will allow you to increase revenue. The magic number, as per many conversations with teachers, seems to be ten students. However, the number of students that could be handled and educated simultaneously depends on the teacher.
The business model of a virtual kindergarten would look like this :
- Marketing on social media groups/local papers —>
- Parents visit the website and sign up their children —->
- Children boot up Zoom or other software, and the lessons commence.
The beauty of the model lies in the fact that it can be done individually and then grow.
In such a business model, you have a choice of how you would like to bill: Either at the end of every lesson or a monthly subscription.
As far as rates are concerned, they depend on a few factors:
- Education level
- Type of children(Children with disabilities require more attention and specific care, thus a higher rate)
Rates that have been after conducting research: From 375$ per month to 800$ per month
How to grow the virtual kindergarten
After successfully conducting classes as a solo teacher and building a positive name in the space, with testimonials and recurring pupils, time for expansion!
- Accountant: outsource until you have up to 10 employees.
- Additional teachers: Having you be the headteacher or just the CEO allows you to allocate time for management, marketing, and expansion of the business.
- Digital marketing specialist: Imperative in today’s online world, to write copy, manage ad campaigns, etc.
- IT support: Since your business will be 100% online, IT support is a vital part of the company. While the business is growing, it might make sense to have a great relationship with a freelancer, but with expansion, a full-time position could be required.
The method of growing your virtual kindergarten will resemble a balancing act. Finding the right talent and giving the best care for children, coupled with aggressive expansion and marketing. As the space is relatively new but full of opportunities, top talent will be harder to come by. Thus snowballing will allow you to not only serve more children, but it will work out in your favor in recruitment.
Pro’s of creating a virtual kindergarten
- Relatively low barrier of entry
- Can be done remotely
- Growing industry
- Requires the teacher/CEO to be tech-savvy
- Higher education is a must
- Demanding clients – Children in online classes are notoriously difficult to work with
- The industry is regulated in some countries
All in all
Starting a virtual kindergarten might be one of the safest and most profitable new business niches one can go. Although it will take time to establish credibility and make a name, with time, it can become a worthwhile endeavor.