Education is the key to success. Surprisingly, it’s one of the fields that have never witnessed a recession. There is a misconception that business in the education sector requires huge capital investment, far from the truth.
The education field is quite broad and offers a myriad of business ideas. If you want to venture into this sector, you’re in the right place.
Below are both offline and online concepts to pursue.
Online Tutoring
The Covid-19 pandemic has brought immense changes in businesses, and the education sector is not exempted. When most countries got locked down, education shifted from the formalclassroom to online thanks to education scheduling software. With these changes, tutors scheduling time to visit homes or coaching centres are facing challenges.
More so, social distancing has become a norm. This necessitates online learning. If you have knowledge and experience for a specific subject, you can offer online tutoring classes. All you need is to invest in a good camera for shooting videos.
Online tutoring is also one of the legit ways to earn money online. You can fix your rates, either weekly, monthly, or hourly.
Opening a Play School
If budget is your concern, then a play school is the right place to start. It’s a lucrative business idea that requires moderate investment. You can start a play school at home or rent a house for the same.
This is where children under the age of 7 spend their day under the supervision of teachers. Kids at play school should not be under any pressure to perform. However, this is a crucial development stage.
Therefore, employing potential teachers is paramount.
Pursuing a bachelor of primary education will be handy in running a play school. This is to equip you with the necessary knowledge to handle kids at their most crucial development phase. Opening and running such a facility demands commitment and dedication.
Invest in Educational Toys
Parents are constantly looking for educational toys for kids of all ages. The toys create an enthralling learning experience at home. You can source or manufacture educational toys.
The toys come in the form of machines, books, electronic gadgets, and machines.
And like any other business, research what the current players are doing to prevent entrepreneurial failure. Customizing the toys is an innovative idea that can fetch you a substantial profit margin.
Online Library
The reading culture has changed. Today, people hardly get time to read a hardcopy novel. The availability of smartphones and internet-enabled devices facilitates easy reading habits.
An online library is a profitable business idea to pursue. Ensure the platform offer books from different subjects and genres.
Ensure the library is well-equipped with all types of books. Don’t forget to include kids’ books. Good Reads and Amazon Kindle are the best examples of digital libraries.
Stationery Business
Venturing into the stationery business is another lucrative idea. More so, you don’t need special skills to open this business. Investigate the school curriculum to know the best items to stock.
Copies, pencils. Books, sharpeners, files, among others, are few items required in the educational sector. Furthermore, the business can be launched with low investment.
The Bottom Line
These are few innovative business ideas in the education industry. And like any business, an in-depth research is necessary to avoid business failure.
If you’re fortunate enough to start your own business, you’ll soon discover that there are intricacies involved, especially if you want to be a long running and successful business. One of the very first decisions you will have to make when starting a business is choosing a suitable business structure that goes well with your startup. But, choosing the perfect business structure, especially if you’re a newbie in the business world, can prove to be confusing. So, before you make a choice about your business structure, understand your choices and what they mean for your business.
The business structure you choose for yourself will ultimately dictate the amount of taxes you’ll have to pay, the amount of paperwork, the personal liability you’ll have to face, and how much money you’ll be able to make.
Factors to Consider When Choosing Your Business Structure
There are some factors that you should consider when choosing a business plan for your company or startup. Whether your business is on a small or large scale, it is important that you make sure you select a business plan that gives you the most benefits.
The basic factors you should consider when looking at potential business plans can be:
Amount of taxes
Cost analysis
Flexibility of plan
The legal liability
The future needs for your business
Types of Business Structures
Every business structure has a different policy for tax liabilities, which affects your business a lot in the future. Some business structures dictate taxes to be paid at a personal income level. While others define a double-tax payment policy that encompasses both personal and business incomes.
There are four basic types of business structures you can choose from. It is important to learn about all types clearly before making your decision regarding the business structure so that you can end up making a decision most advantageous for you.
1. Sole proprietorship
A sole proprietorship is the most common type of business structure, this is preferred by most people as it gives autonomy to one single person. So, if you want complete control over your business without any interference from partners or sponsors, this is the best option for you.
A sole proprietorship essentially means that you will own and operate your business. The liabilities that come with the business will be your own and business assets will be in the category of your personal liabilities.
The tax for this type of business structure includes both your business expenses and personal income. Moreover, in this type of business structure, there are certain risks you will have to take. In case your business goes into debt, or is at risk of going bankrupt, your personal assets will be the next at-risk things. Similarly, any loss in the business would be a loss in your personal income.
Another problem associated with Sole proprietorship is the difficulty in getting funding for your project or business. Usually, banks and other financing sources do not prefer giving business loans to individuals. So, for funding, you will probably have to depend on your savings or take a loan from your family.
2. Partnership
The word partnership clearly states the sharing of the firm or business between 2 or more individuals. They own and operate the business together which makes the business have a better standpoint for survival and also flourishing. Partnerships are generally of two types
General Partnership
Limited Partnership
General Partnership
The type of partnership in which the business is owned by two or more individuals is called a general partnership. The management of the business is looked over and handled by all the partners and so are the responsibilities. In this type, partners don’t look at each other like different owners of a single business rather they look at each other as co-owners and co-workers. The responsibility of the partnerships’ debts and all other obligations are looked over. In general partnerships, the partners don’t just own and run it but they also have to assume liability for the partnership.
Partnerships themselves have an immense advantage which is the tax treatment. If you have a partnership formed the tax doesn’t have to be paid by the partnership. It is “passed on” to the individual legal partners. This saves some money legally which cannot be done without partnership.
Limited Partnership
This type of partnership has partners of both types. In order to start a limited partnership, you must have one general partner and one Limited Partner. They are both essential for starting this partnership. In this type of partnership, the limited partners are just sole investors in it. Other than investments they have no business decision rights whatsoever. A general partner will have control and responsibility while the limited partner will have ownership without having to pick up the weight of any kind of risk or responsibility on their shoulder.
Both of these partnerships have their advantages and disadvantages depending upon a lot of factors and involving legal paperwork.
Unless you have a ton of passive investors limited partnership may not be the best option you have. It creates complexities and there are loads of administrative filing. However, if you have 2 or more actively participating and responsible partners then a general partnership may be the right and easy decision for you.
There is a very serious concern though regarding general partnerships which is the “personal liability”. Just like the sole proprietors the general partners are also personally liable for any debt or obligation of the partnership. They may have to represent or even act as other partners on their behalf. They may have to take legal decisions on their behalf such as taking a loan or make any other decision that will affect the business.
3. Limited Liability Company
A limited liability company is a hybrid business structure that combines the advantages of a sole proprietorship, partnership, and corporation business structures. This model has numerous benefits, it reduces tax responsibilities and the risk of losses of personal assets like in the case of a sole proprietorship.
LLC business structure provides you with a number of options. It is a highly flexible business plan that separates your personal and business liabilities. Plus, tax responsibilities are divided equally among all shareholders or partners in the company.
If you select an LLC business structure, you won’t have to deal with double taxations and also get liability protection, which is the best deal. Another great thing about LLC businesses is that the owner will not be responsible if the company goes into debt, which essentially means that your personal assets will never be at risk.
However, make sure that you know how an LLC works because this business structure like every other has some drawbacks as well. LLC business structures have a limited life such that you will have to get your agreement reformed if someone from your LLC partnership leaves, or if someone new joins in. Moreover, the tax liabilities of an LLC business structure vary with location. Every state usually has different policies of tax liabilities for an LLC business.
4. Corporation
A corporation is treated as a separate legal entity, which is independent of a sole owner. Therefore, you cannot be the owner of a corporation but a shareholder. A corporation business structure is further divided into two types:
C-Corp:
A C-corporation business structure is the most basic type of corporate business structure.
This business structure has its pros and cons. For example, corporations are the best option if you want to have a high level of security, i.e., safeguard of personal liabilities, but corporations are double-taxed, i.e., you will have to pay twice the amount of tax on the same income. This can be a declining factor in favor of a corporation business structure.
However, it’s a good choice if you want to start a large-scale business or later expand your business and add shareholders. Because of the extensive record-keeping required by corporations and the strict rules and regulations, this plan will work for you if you like a disciplined environment. Although the decisions will not be solely your own, every shareholder will have a vote in important business decisions.
S-Corp:
A sub-type of business structure for a corporation exists, known as an S-corporation business structure. This type of structure is usually preferred by small businesses because of its fewer taxation policies.
This structure is also defined as a separate legal entity and does not have one owner, instead, the business has a number of shareholders. Unlike the policy in C-corp, S-corp is only taxed once, at a personal level. Although s-corp business structures provide liability protection, it is in a limited amount. Another drawback of this type of structure is that it is only possible in the United States.
Selecting the best type of business structure can sound intimidating at first, but once you get the hang of the different types of business structures and their benefits, your choice becomes pretty clear. Although each type provides some great benefits, each one has its own drawbacks as well. In the end, it is up to you to decide which type would best suit your circumstances and business requirements.
Since the internet revolution, the world has been opened to new operations and at the same time, new opportunities to make money. Being able to access the online global market, people can now earn extra income or work full-time via remote jobs.
Remote Work
A relatively new term, teleworking, denotes the practice of working from home, and since the outbreak of the Covid-19 pandemic, there have never been more significant reasons to find ways to be able to work from the comfort of your own space. With invaluable flexibility in your day’s schedule, telecommuting is linked to lower health risks and less stress.
With millions of people working from home now, companies have found ways to make transferring salaries and cash injections safe. PayPal and TransferWise are just two of the payment options for online work, but payment methods really do depend on the company with whom you work.
Undertaking online work has expanded to mean anything from smaller, hourly-charged tasks, to month-long projects. However, despite the extensive range of jobs that people can accomplish online, it is not the case that remote jobs are available to anyone. The following ways to earn money online do have their limits, primarily related to years of experience and the required skillset.
Paid Research and Surveys
There are numerous apps and websites that are looking for people who will volunteer their time to participate in consumer feedback, usually for product development. In addition to brand-related support, you can get paid to take part in psychology or behavioral research studies which are conducted in university labs throughout the US. Some of the most notable tertiary institutions through which you can earn extra money online are Carnegie Mellon University, the Weinberg College of Arts & Sciences, and even Harvard.
Buy and Sell Domain Names
Do you know that people earn money online buying and selling in-demand domains? Consider searching on Gator and GoDaddy for sites that you believe have the potential for greater commercial value. After purchasing and registering domains that are cool, trendy, and which you think others might want to buy later on, you can list them for sale on platforms like Sedo.com. Many domains are available very cheaply. And even though you will purchase them in your personal capacity, the return on investment can be astronomical.
Create Your Own Online Course
Through sites like Udemy and Skillshare, anyone is able to create interesting courses from which they personally price and profit from. Being able to own your content, grow your talent, and help others to upskill themselves, this money-making option is a winner!
Virtual Assistant
You have likely heard of this before, and this is one way to earn money online that can even extend to become full-time work. A virtual PA – or personal assistant – is someone who is available online and can do a multitude of jobs, such as scheduling appointments, making phone calls, and even image tagging.
Virtual assistant jobs can be very similar to micro jobbing, a term for small jobs ordered by multinational companies who outsource people to complete tasks remotely. Some of the jobs revolve around inputting large sets of data (data entry/verification), customer care, or tech support.
Teach English Online
With many governments around the world nationally prioritizing learning and speaking English, online teaching is a fantastic way to earn extra income. To aid international studies, easier global travel, and working abroad, the online English teaching industry is booming!
As speaking fluency is of great concern, some companies hire teachers and mentors to have natural conversations with second or even third language learners. iTalki is just one company that connects English students with a teacher, after which speaking practice can begin. Speaking with learners from around the world, particularly Asia and Eastern Europe, teaching is a fun way to make extra income while knowing how life-changing your impact can be.
Freelance Writing
It is true that not everyone can write well, but for those who enjoy it and would like to improve their writing skills, freelance writing could be just the thing for you. If you meet the minimum requirements and quality standards to create a profile on platforms like Upwork, you have access to writing jobs from around the world! Interesting and creative orders will keep you on your toes, allowing you to make some great cash and take your writing to the next level.
It is essential to keep in mind that teleworking can be exhausting. While some may prefer it over being in an office all day, it can be challenging to navigate the work-home balance. If you are working from the same place in which you eat your meals, spend time with your family, and relax, find ways to separate your work and home life. You may need to enforce stronger boundaries and be creative with how you keep your structure, but with the flexibility that comes with earning money online, we are sure that if you love it, you will make it work!
Starting any business is intimidating. There’s a lot to learn about the items you’re selling, the market you’re selling to, and how to market your product. However, plenty of other companies have been precisely where you are now: wondering how to bundle and sell items at a low cost. In fact, these industry giants know how to create and maintain a thriving subscription box service!
Let’s take a look at 5 of some of the most popular subscription boxes and why they work.
Bouq Co.: From Shark Tank to Flower Selling Moguls
Bouq Co. founders John Tabis and Juan Pablo Montufar noticed an issue in the quality of flowers being sold in the industry and the shady marketing tactics online retailers would use. The Bouq Co. delivered farm fresh flowers directly to your door and didn’t hide the price until checkout. Through Montufars’ hydration process, flowers typically lasted 2 to 3 weeks.
Tabis and Montufar rolled out overnight shipping after receiving criticism from Shark Tank that your average consumer typically forgets birthdays and holidays. Now, you can purchase flower delivery for Mother’s Day and still ensure your mother gets her present! Plus, as a subscriber, you get 30% free shipping, flexible delivery days, and beautiful floras!
Bark Box: Gifts and Treats for our Furry Friend
Over 63 million households own at least one dog in the United States. With that many dog owners, it was easy for founders Carly Strife, Matt Meeker, and Henrik Werdelin to come up with a solution to a problem dog owners didn’t know they had: finding the best toys. BarkBox services over 1 million dogs monthly and can attribute that number to clever marketing. BarkBox uses Instagram to promote their business. With plenty of cute dog photos, well-crafted dog memes, and pictures of happy dog customers, it’s no wonder people choose to follow!
Candy Club: Their Success Speaks for Itself
Who doesn’t love candy? Candy Club founder and CEO Keith Cohn likely asked himself that question when he started a candy subscription service in 2015. While candy doesn’t come in short supply, the variety can sometimes be scarce unless you go to a specialty store. Even then, there’s still the issue of geographic location, shipping costs, or rare snacks.
Candy Club has all of your favorites: gummy bears, chocolate-covered almonds and taffy but adds a unique spin. Plus, the monthly rotation of six 6-ounce candy cups keeps the box exciting and new. Candy Club’s secret isn’t the product: it’s the marketing. Through affiliate marketing, Cand Club has successfully garnered over 50,000 members and counting!
Itpy: Quality Deluxe Cosmetic Samples
YouTube beauty vlogger Michelle Phan started her own subscription service on the back of her already large fanbase and social media following. Their growth model focuses on driving subscriptions through Michelle Phan and other popular beauty Vloggers. However, their collaborative efforts with other beauty companies is what makes this box unique because they feature both small and large makeup brands. They have spent virtually no money on advertising and instead offers mentorship, access to studio space, and a larger platform.
Dollar Shave Club: Cheap, Yet Powerful Razors
While skimming this list, you probably said, “I know this brand,” which is a great sign for their marketing efforts. Dollar Shave Club, created by founder Michael Dublin and Mark Levine, came together over their frustration over the cost of razor blades, and who could blame them? With over 2 billion tossed razor blades per year in the U.S. alone, that cost really starts to add up.
Although they started their company in 2011, they didn’t see any real growth until March 6, 2012, when their YouTube video entitled “Our Blades Are F***ing Great” went viral, garnering 27 million views as of 2021 and 12,000 subscription orders. Through YouTube advertisements, they’ve continued to see massive success. Plus, their razors are actually “F***ing Great.”
Research can be grueling and time-consuming. Thanks to the internet, you can access an endless pool of information with a few clicks to get you started. People engage in research for various reasons. Whatever the case, knowing how to achieve your research goals is a necessary skill in the digital space. With the steps below, you can hone your skills and become an expert researcher.
Incorporate Appropriate Search Tools
When browsing the web, you can either use search tools or select credible websites. There are various web portals to use for your tasks. Currently, the most popular search engines include Google, Yahoo, and Bing. Google owns the largest database and provides an extensive selection of results. Using Google Scholar, you can easily find academic articles which rarely appear on general search results.
Getting the Most Out of Search Tools
Finding a reliable search tool is just a small step in the research process. To ensure that your search engine gives rich results, here are some tips:
Be Specific
To sift your search, try to be as specific as possible. For example, typing “rocking chair” will give more general information than typing “wooden rocking chair.”
Use Simple Words
Using the simplest form of the keyword for your search yields better outcomes. Avoid adding prefixes or suffixes to your words. For example, use “luxury” instead of “luxurious.”
Take Your Time
The results appearing first might not match your expectations quality-wise. It is better to take some time and skim through the bottom results or those on subsequent pages.
Incorporate Quotation Marks
When you enclose a word with quotation marks, search engines can generate more specific results.
Omit Unnecessary Words
By placing a minus sign before a word, you can find higher quality information as such words will not feature on your results page.
Identify Your Research Topic
When scouring the internet, it is easy to get overwhelmed by the numerous sources of data. Having a well-defined research topic is the first step to an effective research process. If you find it challenging to pick a topic, consider using https://essayservice.com/essay-topic-generator for interesting essay headlines. It is advisable to identify the main keywords to give direction to your search and avoid distractions. Experimenting with different keywords ensures access to detailed information specific to your headline.
Use Reputable Sources
There is a vast collection of online materials to use; some are factual, while many contain falsehoods. Using credible sources in your work helps build trust and strengthens your findings. Finding reputable sources involves identifying these sources and knowing how to evaluate them for possible bias. There are two main sources of research material: primary and secondary sources.
Primary sources include interviews, speeches, case studies, clinical reports, autobiographies, and dissertations, while secondary sources present content from a different source, whose author may not have participated. They include publications such as journal articles, e-books, literature reviews, and bibliographies. Combining both primary and secondary sources is necessary for a balanced paper.
Qualities of Reputable Sites
Whether you opt for primary or secondary sources for your work, it is imperative to identify reputable sites for your online research. Here are some pointers to a site’s credibility:
Relevance
Generally, content is relevant when the date of publishing does not exceed ten years. Older articles tend to have outdated information that may have been proven wrong by new studies.
Availability of Proof
Various elements like charts and result findings go a long way to validate a source, as long as they are a true representation.
Author
Established authors have a large following and a name to protect. They put a lot of work into their projects to provide credible information.
Origin
You can determine a site’s reputation by identifying its origin. Government websites, denoted by .gov, are reliable resources for your research.
Purpose
What purpose does the content serve? Is it promotional in nature, or is it educational? Anyone can create a website and share one-sided information with the public.
Target Audience
Establishing the audience can help you identify a reliable source. For instance, scholarly articles published for academic audiences are the result of extensive research and are a reliable source.
Scope
Reliable sources like books are comprehensive enough to guarantee credibility in comparison to magazine articles, which contain limited information.
Prepare a Rough Draft
Once you have gathered enough material to start working, it is always advisable to prepare a rough draft. Apart from ensuring your ideas flow seamlessly, a rough draft ensures that you do not omit vital points as you write. A draft needs brevity and clarity to avoid doing double work and disorganizing your ideas.
Conclusion
Developing research skills takes time and effort but goes a long way to ensure you deliver quality academic papers and earn good grades. By following these guidelines, it is just a matter of time for any student to move from average performance to an excellent one.
When you have a breakdown of your HVAC system, the person you should call is an HVAC technician. Why the technician? HVAC technicians are experts in assembling and repairing HVAC systems. They have the knowledge, skills, and experiences of doing this work. While you might think it’s an easy step to becoming an HVAC technician, it takes time and dedication to go through the technician course and practicing the same to become perfect. This article will explain some steps on how to become an HVAC technician. Before we discuss the steps, let’s look at their roles, skills, and certifications.
Personality and Skills of an HVAC Technician
Before becoming a fully accredited HVAC technician, you have to learn the programs and have the skills of carrying out an HVAC system repair. You should have full mechanical skills, be physically fit, and have a detail-oriented personality. It would be best to be reliable to your clients and sell them service contracts. You have to explain to the clients why repairs and maintenance are necessary for their HVAC equipment. You also have to be well-spoken to explain the system’s details to clients who don’t understand such.
The Role Requirements of an HVAC Technician
First, an aspiring technician must have the necessary education then undergo the training to become an HVAC technician. After this education, a coming-up technician needs to attend a technical school or college to learn the HVAC program and get the certificate. Conforming to an article at https://hvacprograms.net/, it’s essential to find the best HVAC training accredited by organizations such as HVAC Excellence. There are also online programs that will prepare you for the apprenticeship. The shorter programs can last for only six months, while the longer ones can extend up to two years, making you earn an associate degree.
Once you are done with training, you need to acquire a professional license before working as an HVAC technician. Where does one get these licenses? A state HVAC licensing authority will provide the license after approving you are fit for the job. While getting a license should be a straightforward thing, some, like the Environmental Protection Agency (EPA) license, require training in handling and disposing of harmful chemicals. Some licenses will also require a technician to service a few items, while others are universal – the technician can work on several cooling components.
How to Become an HVAC Technician
While some individuals will opt for on-job training to acquire the skills, experts recommend undergoing the full HVAC technician training program to acquire all the skills. Studying under the approved HVAC programs makes you more competitive in the job market. Here is an example path of becoming a fully accredited HVAC technician.
Step 1: Get a High School Diploma – Takes four years
Any individual wanting to become a professional HVAC technician must study at least to a high school level. They should majorly concentrate on physics, chemistry, and other physical sciences to gain the much-needed knowledge. During their free time or after-school, they can assist the well-established HVAC technicians, thus gaining experience.
Step 2: Join an Accredited HVAC Program – Six months to two years
After high school, an aspiring technician can apply for a certificate, associate, or the advanced bachelor’s accredited HVAC program and comprehensively study the course. The candidates will learn refrigeration, load calculations, industry code standard, and energy management through this coursework. Other areas include air quality and conditioning and ductwork and piping systems. Here, the aspiring technicians will learn both theory and practical work and, at times, will work with already established technicians to understand the course better. You need to choose an accredited technical school or college for this program.
Step 3: Complete an Apprenticeship – Three years to five years (Optional)
It’s not a requirement to undergo this apprenticeship program. However, many upcoming technicians prefer taking the apprenticeship to hone their training and educational programs. There are specific companies that offer the apprenticeship, including the Associated Builders and Contractors and the Air conditioning Contractors of America. You will get paid while on apprenticeship, depending on the company.
Step 4: Become a Technician and Work in the Field – one to two years
It’s essential acquiring a stand-alone experience after doing the apprentice program. This stage confirms if you are job-ready and also exposes you to the technicians’ field. You could skip this step if you attended a job-ready program.
Step 5: Get a Professional Certificate and Start Working
To start practicing fully as an HVAC technician, you need to get a professional certificate from the approved bodies, including HVAC Excellence and Refrigeration Engineers and Technicians Association.
The above are the simple steps of becoming an accredited HVAC technician. From the list, the steps are straightforward. You only need to choose the right technical school or college, get down for the program, and earn a practicing certificate. It’s a process that requires dedication to become the best.
