Business Opportunity of the week - On-line Student Tutorials

This weeks business opportunity of the week is for the young entrepreneurs out there in the form of On-line Student Tutorials. This is a much needed idea aimed at students and school goers who fall behind at school or simply want to improve their grades. 

An Internet business that focuses on supplying quality tutorials on the web could be lucrative. Imagine being able to offer courses ranging from how to understand Maths, Speak and write better Zulu and how to pass the science and biology exam. The range of courses on offer could be huge and could cover every aspect of school ranging from hobbies, education, sports, business, languages and much more. 

The great thing about this idea is that once it is set up, your overhead costs are really low and you really only have to focus on marketing 

So if you have a bit of capital, love education and are willing to commit for the long term then setting up an Internet tutorial website could be both enjoyable and lucrative in the long term. 

This business can easily be run from home initially until growth demands 
office space of your own.

Upside: If you remember your school days and the frustration of not understanding Maths, science or any other subject, or if you have kids in school currently experiencing the same challenges you would know that this business idea is a winner.
Downside: Its fairly easy to start-up and once you make a success out of it you can be assured that competitors will follow.

Verdict: A great idea for entrepreneurs with IT savvy, a bit 
of cash and the drive to make it work. Initial set-up costs may be relatively 
low but a solid marketing plan and budget to support it is a must. My 
research has shown nothing similar in South Africa yet, so the early 
bird is likely to grab market share. 

If you need support with your business or business plans please contact us 

Start a Marketing Research Business in South Africa

With a viable business plan now probably ranking towards the top of the tree for many entrepreneurs seeking business finance, the need for feasibility studies and market research has seldom been as significant as it is today. Entrepreneurs, small business, large corporates and Governments are continuously looking for up to date marketing research information on which to base business finance or strategic decisions. Today may be as good a time as any to start a marketing research business take advantage from the huge demand there is for this type of service.

There are different types of marketing research and these are advertising research, ad tracking, brand association research, brand equity research, brand attribute research, commercial eye tracking research, concept testing, copy testing, demand estimation, distribution channel audits, Internet strategic intelligence, mystery shopping, online panels, sales forecasting, test marketing and social networking potential among others. If you are interested in qualitative research or quantitative research and helping small and big time business firms, then market research may possibly be the best career opportunity for you.

Want to know how to start your own market research firm? Here are the steps:

   1. Identify your target market. Make a decision whether your market research company will focus on airlines, food, clothing or electronics.
   2. Make a strategic business plan. Every business needs a tactical business plan. It not only helps to predict potential business problems but to identify the services you will render to clients.
   3. Connect with powerful organizations such as a Small Business Association and the Chamber of Commerce. These two powerful organizations will help you to promote your marketing research firm. They will also update you with the latest business opportunities that can help your marketing research firm.

   4. Make a modified opinion poll for customers. The opinion poll or survey will help your marketing research firm collect the most important information to help your customers. Please make sure to keep the opinion poll short yet understandable. Moreover, it should include general queries that help you get important demographic details like revenue, age and level of education.
   5. Contact experienced local business owners. Experienced local business owners will give you helpful tips on how to manage your marketing research firm. In addition they will provide you a better understanding on how to meet the marketing needs and demands of the clients.
   6. Hire a qualified marketing research staff. Post jobs offline and online, and make sure to detail the job description and requirements carefully. Highly competent staff can help your marketing research firm progress in no time.
   7. Advertise your marketing research firm. Post your marketing research firm ads on the Internet and in newspapers. This will surely help you find more clients.

Using the best business marketing strategy will help your market research firm become successful in no time. Get it right and you will gather the fruits. You need to teach yourself first, gathering information about the market research industry before launching your own company. But if you think you already have the right information and skills in this field, then don't think twice.

Now this is probably not everyones cup of tea and if you are not good with figures, communication, marketing and research work then this certainly will not be for you but there will be a number of you reading this blog that may just take on the challenge of starting your own business supplying these type of services. If you are the entrepreneurial type and you are giving this a real go then please do contact us as its a service that we are regularly looking for.