“The global academic e-learning market is expected to post a CAGR of over 10% during the period 2019-2023”-Technavio
Taking your first step towards eLearning business can be confusing. You have the skill to teach. You know your audience. But, how to build a business around it?
Well, Unyscape has significant experience in helping businesses and individuals, like you, to start and grow their eLearning business (right from scratch)
In this article, how to start your first eLearning business, I will take you through a plethora of options that that you as a brand or a startup or an organization should consider when starting your first eLearning business.
But first thing first!
Should You Start An eLearning Business?
Whether learners are interested in learning how to develop websites, dance, market a product, build mobile apps, paint, or play guitar, there is a course out there to help them.
If you are passionate about, or skilled in, a specific topic or industry, then you can create a brilliant opportunity and start an eLearning business.
You can successfully grow a community around the topic you are good at, create products such as eBooks, Courses, Video Tutorials, and sell them.
In a few years, you might end up building a venture like Lynda.com (now LinkedIn Learning).
How Profitable Is An eLearning Business?
According to the Global News Wire, the e-learning market is expected to double to $325 billion by 2025.
To stay ahead of the competition, professionals or students need to learn constantly. And online courses are the best bet for constant learners.
E-Learning is considered one of the most profitable businesses one can start.
One of the most foundational reasons is that you can create an entire course for less than $100 and can charge up to $500 or even more for access.
Additionally, eLearning business can be your side-hustle. If you are a Java teacher and you love what you do, you can prepare some products for potential learners and can sell them, starting your own eLearning business. You can prepare products such as eBooks, Video Tutorials, and other.
Many individuals are successfully running their eLearning platform and making millions out of it.
Some of the top eLearning platforms selling online courses or offering online classes are:
- Lynda.com (now LinkedIn Learning). $25 per month to take whatever you like. Includes mobile apps.
- Udemy.com. Costs range from $10 to $500 with classes averaging around $100.
- Udacity.com. Classes average $200 per month with certification included.
- Khanacademy.org. Free micro-video lessons focusing on academic subjects. Learners earn completion badges.
- Skillshare.com. Offering creative classes focusing on visual arts, one can join for free to access a limited number of free classes or join for $10 per month for unlimited access.
Creating and selling online courses is a booming market internationally.
So, How To Start Your Own eLearning Business?
If you have an idea, a skill, some content and an audience, then you can build a successful eLearning business.
You can either be a part of a business (, and join platforms like Udemy) or you can build an eLearning platform and sell your online courses. Here is a quick overview of what you will need:
- Making an Online Course
- Setting a Price
- Hosting Your Online Course
- Marketing & Selling Online Courses
Let’s get started.
Making an Online Course
The first step to start your own eLearning startup is to make online courses. However, before starting, you need to decide why you need to create an online course. One of the most obvious reasons is to generate revenue.
But, there are additional benefits to creating online courses beyond generating revenue. And, the goals for your business ultimately decide what type of course is right for your potential learners. Some of the reasons for creating online courses are
- Income source: The simplest use case, one creates a course, and people buy it.
- Customer acquisition: Some businesses use online courses to build an audience who then purchase other products or services.
- Customer success: Some businesses use online courses to train their customers on how to use their products.
Being an instructor and creating an online course is not easy. Here are some steps you can follow to make it easier:
- Decide on a Course Topic:
Finding the topic is not struggle, especially for those who already know what to teach. You can also ask for opinions through email and social media.
- Research Your Course Subject:
Regardless of your expertise, it’s always a good idea to research your topic both online and offline. Don’t forget to check what your competitors are up to!
- Outline Your Online Course:
Choose a logical order and divide your course into sections or themes that are neither too short nor too long.
- Set Your Goals/Objectives:
Define what your course is all about and what you expect your students to learn.
- Create the Content:
The final step is to create the actual content. Based on your goal, you can decide what type of content you need for your eLearning Business; eBooks, Instructional Videos, Live Courses, or Video Courses.
Setting a Price of your Course
Setting a Price an online course is incredibly important.
To set the price, however, you will need to balance the value of your course based on expectations, quality, competition and your revenue goals. Too low or too high price may result in less sell and less profit.
Four pricing tiers you should consider for your online courses
If your goal is to generate leads then you can offer a free course and showcase your expertise.
- Basic One-Off Payments
You can offer one-off payments and give full access to the course upon payment. It is the simplest pricing tier one can set for an online course.
With subscriptions, you ensure that you get a monthly/weekly/yearly recurring income that you can rely on.
For the premium course, you can charge your students and can either opt to pay once or pay for up to six months or yearly.
Hosting Your Online Course
Now that you have created your course, it’s time to publish it and start selling. You need to create a site with a sales page, the ability to upload and host your online courses, collect payments, and instantly let your customers stream/download said courses.
Well, there are three popular ways to do this:
As the name suggests, you host the online courses on your own with this option.
Unyscape helps businesses and individuals like you to build an easy to use website to start your own eLearning Business.
With self-hosting, you can custom the website as per your requirement and business need. We can help you create your own Learning Management System with WordPress as well.
As you will own the website, you can control everything, right from prices to features.
2: Online Course Marketplaces
As you are here, you must have heard of marketplaces like Udemy, where you simply upload your course videos and let the platform do the rest.
The marketplaces sound great, however, you will often have restrictions such as the price of your course, the number of times you can email students, etc. Additionally, you end up paying a massive cut of your sales to those marketplaces.
3: Learning Management Systems
Online course platforms, or Learning Management Systems (LMS), are one of the best options. Using popular LMS plugins like LearnDash, Unsycape can help you easily set up your eLearning Business. You can also create categories for the courses and can custom features as per business requirement.
The Unyscape team makes it extremely easy to design your eLearning business site, set a price, and publish your course.
The online course market is booming, and it’s time to profit from its growth.
Whether you are an organization or a small institution looking to launch online courses or a corporate enterprise interested in employee training, get in touch with us. We have the experience and the passion to help you build the eLearning Business of your dream!