Creating online courses and selling them is an international market that is booming at a rapid rate.
In 2015, the eLearning market was estimated to be worth about $107 billion.
In 2018, it was worth about $190 billion, and by 2025, it is expected to be valued at $300 billion.
In the present era, it is a common trend for both students and professionals to invest in education, business programmes, and professional development. Online courses are currently used to fill the knowledge gap among many people in various fields and business segments.
Online courses are preferred by many people because of the flexibility and comfort of being able to study from home. This is preferable to having to drive to a location or have to work with someone else’s schedule. I’d call it the perfect arrangement. This is one reason the eLearning industry is fast growing. As more people shun physical schools with limited teaching capacities in favor of distance learning programmes usually conducted online.
The potential for course creators
Online courses are a very viable segment of the eLearning industry and there is an opportunity for passionate course creators to make a career out of it. The industry offers a big opportunity for future course creators. People interested in the industry can make money selling courses based on any niche like real estate, cryptocurrency, Information Technology, Forex, and so on.
The more external pressure there is… the easier these courses are to sell.
Here’s what I mean:
If someone needs to pass an exam to get a job. This often comes with a deadline. This deadline would be the external pressure.
Therefore if you’re teaching how to pass this exam, your work marketing this course becomes much easier.
Is selling online courses profitable?
Certainly, it is profitable to sell courses online.
Once built there’s very little fullfillment and overhead. This means you get to keep almost all of the profits.
For digital entrepreneurs, selling courses online is among some of the best business models.
There is an increasing demand for online courses as people are more willing than ever to pay for these courses. Due to the benefits of home study, the popularity of online courses has skyrocketed.
What are the benefits of selling courses online?
When you start your online course, it can bring you a lot of revenue.
Also, apart from a regular income, there are a lot of other benefits that you can get from the business.
Creating an online course means that you can:
- Enhance your presence and brand online
- Monetize your expertise and audience
- Cultivate a stronger following among your current subscribers
- Create more opportunities for yourself through partnerships
- Setup an affiliate system
- Lead people into other higher end services
- Test new offers and ideas fast
- Fill your value ladder with a lower end offer
How much money can you make as a course creator?
Making money as an online creator varies due to various elements. To be able to determine your revenue, you will have to consider various factors.
The course price: The price of the course will affect how much you make in this business. Do you sell your courses for $500 or $5?
Your audience: How big is your audience? What is your subscriber base like? The number of buyers you have will significantly affect your earning potential.
Sales/marketing experience: This experience is important for you to penetrate the market and bring in a lot of buyers for your courses. You will need a substantial amount of sales/marketing experience if you need to break even in this business.
Customer loyalty: To make a decent amount of money, your customers should come back for more courses. Do you have loyal customers? If they are walking away, then you are losing money.
Outcome: Are you offering something valuable and worthwhile? Is it specific rather than vague? Can you show the transformation that will occur after someone has taken and implemented your teachings?
Niche: Does it have hungry buyers? What’s your competition like? Is there external motivation, do you have to create one or do people simply not care when they solve this particular problem?
These are just some of the questions that you’ll have to answer before you can understand whether selling online courses will be profitable for you.