Pros:
– Flexible Schedule: as an entrepreneur, you are in charge of your own schedule. This can give you the opportunity to take on only the projects that interest you.
– Low startup cost: You don’t need physical or expensive equipment to start. You can start a test prep business with just the knowledge and skills required to tutor students.
– Increased Demand: There is an increased demand for test prep services, especially in recent years as more people are applying to universities or taking standardized tests.
– Make Good Money: It’s possible to make good money tutoring students for tests.
Cons:
– Difficult to Manage Clients: It can be a challenge to manage clients and their expectations, especially if you’re teaching multiple students at once or have many students in different locations.
– Time Commitment: Teaching people to take tests requires time and dedication. You’ll need to be available when your students need you and have the ability to teach them effectively.
– High Competition: There is a lot of competition in the test prep business, so it’s important to stand out from other tutors with different strategies or approaches.
– Limited Growth Opportunities: If you don’t plan on expanding your business, you won’t have too many opportunities for growth. It can become difficult to stay motivated when things remain stagnant.