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Business Idea: Be a Tutor

If you have a specific specialized skill and passion it can be rewarding to share it with others, plus get paid to do so.  Think broadly here as there could be a niche market you can serve for a specific interest you have that could attract a consistent following.   The traditional areas of tutoring like math and piano lessons come to mind.  How about Arduino programming or airbrush painting?

The market you serve and the topic of the sessions will largely impact the rate that is charged.  Most tutoring is $15-$50 per hour which is a massive range.  Group lessons are a profitable twist to make the rate better for your clients as well as increase your hourly fee.  A private lesson might be worth $50 per hour and you could attract 5 or 6 clients a week.  You will make $250 or $300.  A group lesson on the same topic you can discount to $20 per hour and attract 30 or 40 clients a week in three or four lessons of ten each.  Now you are making $600 to $800 per week and $200 per hour instead of $50.   Maybe you start off with only 2 or 3 students and work our way up.  This model has the ability to grow exponentially as you have more word of mouth referrals.

Depending on your topic you may need to be licensed in your local market.  Generally, this service has extremely low startup cost and no capital investment.  Be creative and see what you can make happen.

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Gregory Brickner

Gregory is the Co-Founder of Finive and a number cruncher himself. He leads the obsession for cash flow for small businesses that is the Finive spirit. With insights into cash flow, business owners make better decisions, increase profit, and achieve their wins.