The academic year is coming to a rapid end in my next of the woods. Meanwhile, in other parts of the country, kids are already enjoying summer break.
Even though most students will be out of school for the next few months, that doesn’t mean learning will grind to a halt. In fact, during the summer, many home-based tutoring businesses experience a surge in customers. If you have a college degree or excel in certain subjects, starting a tutoring business may be an ideal way to earn some extra money. What’s more, by working out of your home you will be able to help clients while still being mindful of your family’s schedule. Start-up costs are also very reasonable with home-based tutoring jobs.
Before embarking on this venture assess your skills and ask yourself some key questions, such as:
- Do you prefer working with young children or tweens and teens?
- What are your strongest subjects?
- How many hours are you willing to work?
- Do you plan to charge per hour?
Traditionally, there’s higher demand for math and reading tutors. However, in recent years, many parents have been looking for tutors to help their children prepare for standardized tests and college entrance exams, including SAT, ACT and Advanced Placement. Offering one-on-one assistance with test prep may be very attractive to students who struggle in group settings.
Prior to moving forward with your home-based tutoring business it’s vital to check out your city’s zoning requirements. Some places do not allow commercial businesses to be run out of private homes. Also, consider registering your business. If this is your first home-based venture, it might be beneficial for you to consult with an attorney about whether to operate your tutoring business as a sole proprietorship, an LLC or another type of corporation. Finally, get in touch with an accountant about tracking your business income. You will need to determine rates and document all expenses in order to complete your taxes.