In 2022, the education industry in the United States was valued at more than $1350 billion. Over the past few years, the value of educational services has steadily increased largely due to online education. With that said, now may be the perfect time to take full advantage of this growing industry.
In 2022, the education industry in the United States was valued at more than $1350 billion. Over the past few years, the value of educational services has steadily increased largely due to online education. With that said, now may be the perfect time to take full advantage of this growing industry.
Across the world, the education industry generates $5.6 trillion in revenue. As mentioned, online services are responsible for most of this revenue by making it possible to reach larger and broader audiences. Additionally, across the world, parents and guardians are willing to pay whatever it takes to ensure a brighter future for their children. These are just a few reasons why education-focused businesses are seeing so much success.
If you’re ready to explore your options, read on to discover some of the best education startups and business ideas. Afterward, keep all these options at your fingertips with our free Small Business Startup app—available for both Apple and Android.
The major driver of growth in the US today is online education. While many people have taken advantage of this business model, very few business owners are specializing in tutoring children with special needs. Across the world, 1 in every 160 children is diagnosed with Autism. By launching an online tutoring business focused on movement-based learning and adaptive lessons, you may just reach children who many tutoring businesses do not.
You can’t discuss education startup ideas without thinking about your teachers! On average, a whopping 50% of teachers admit to feeling especially burned out. For that reason, it is wise to consider launching a business startup focused on making their lives easier. Some business models, such as Teachers Pay Teachers, allow their customers to profit from the lesson plans they create. This creates a huge incentive for participation which will be the main growth factor for your business.
Math and Science Tutoring
A recent study showed that 42% of American adults feel clueless when trying to help their child with mathematics followed by another 35% expressing the same sentiment with science. Pair that tidbit with the fact that the global private tutoring market was valued at $92 billion in 2021, and you may just be onto a great business startup idea! To get started in this arena, consider the grade-specific testing standards for math and science in your state. From there, enjoy the freedom of creativity in curating hands-on activities while also staying true to your values and teaching philosophy.
Nationwide, more than 80% of schools have experienced cuts to their budgets since 2008. Every year, it seems that number continues to grow. Along with budget cuts, arts and music education are often the first classes to be removed. However, a new NAMM Foundation study revealed that the majority of teachers and parents believe music and arts education is important for their children. With that said, a music education startup is a wonderful opportunity to fill in the gaps for what’s missing from public education.
When measured by revenue in 2022, the preschool industry’s market size was valued at $15.1 billion. This education-centered industry is usually very attractive to those without direct teaching experience. While profitable as a whole, careful considerations must be made before launching a preschool; improper forethought is often the reason daycares and preschools end up closing their doors.
First, consider whether or not your school will fill a need in your community. Will parents be able to afford your services? It’s no secret that preschool tuition often exceeds $1,000 a month—and that is the low end. If tuition costs exceed the average income in your area, it’s wise to consider a different educational niche.
Likely, you’re eager to launch your new education startup, but remember to take time to investigate what parents and students in your region need most! The above list is only the beginning. Art education, dance lessons, and agricultural education are more opportunities worth exploring.
Another important consideration to make is that sometimes, it makes more sense to invest in a business opportunity that already exists vs doing the heavy lifting alone. Here, we’re referring to “Franchise Opportunities.” If you’re interested in exploring your options, take a look at the education-focused franchises on this page. Remember to download the free Small Business Startup app to keep all these options at your fingertips—available for both Apple and Android.
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