Become a private GMAT tutor to create a lucrative work from home business. Your start-up costs are relatively inexpensive, and you can use both the Internet and your local community to promote your business.
If you have experience taking the GMAT exam, you may have the skills to become a GMAT tutor. Because the test measures language skills, writing skills and quantitative abilities necessary to succeed in graduate business studies, you must possess strong skills in these subjects (as well as have the ability to teach them). In addition, you will need to come up with a study plan for your students that encompasses a number of different learning styles.
As a private GMAT tutor, you will need to purchase the materials or study program you want to use for your tutoring sessions. You may also want to participate in online tutor training courses or programs to cultivate your skills, and keep abreast with the tutoring industry standards. The main start-up cost, however, involves promoting your business. Before you begin advertising, write a short business plan that outlines your vision and your income goals for your private GMAT tutor business. Within your business plan, come up with a marketing strategy utilizing your local community and the Internet. Make a budget for your start-up costs, and determine how you will fund it until you get your business up and running.
Promote Your GMAT Tutor Business
Probably more difficult and possibly more time consuming than tutoring students, will be the promotion of your GMAT tutor business. Your marketing strategy may be some combination of the following:
- put up flyers on college bulletin boards
- network within your community
- hand out business cards
- place online classified ads
- use social networking websites
- register with an online tutoring directory like www.directoryoftutors.com
The best promotion is word-of-mouth referrals. Deliver the best possible experience to the graduate students you tutor, and they will tell their friends about you.
Private Tutor Potential
The pressure to succeed in a capitalist society grows in tandem with the competition for success in business. As long as this is the case, the demand for GMAT tutors will continue to expand. While you may start out earning $20 per hour, an experienced GMAT tutor may charge as much as $100 per hour, so the potential earnings for your home based business has a rather high ceiling.
The demand for GMAT tutors is growing. If you have studied business at the graduate level, have a strong grasp of the language, writing and quantitative skills necessary to successfully take the GMAT exam, and you're looking for a work-from-home business opportunity, consider starting a private GMAT tutor business. The start-up costs are relatively low and the potential to gain customers and grow your business is high!