We’ve come up with a list of ways you can grow your tuition agency to keep up with demand. The reason? There comes a point in every successful tutoring agency’s development that growing as a business becomes an important focus. You’ll know when that time comes as you’ll find demand for your services increasing as your reputation grows. You might find your services booked up weeks in advance with tutors knocking down your door to work for your agency. In such times, it pays to plan ahead.
Open Another Location
As your business grows, you may find students travelling from further afield to use your services. In which case, consider opening a second tuition agency in another local area. If you’re able to finance a second agency, then you’ll be able to take advantage of all the knowledge you’ve gained from running your first business, meaning that expansion should be a lot quicker than before. Do some research of suitable areas to open your new venture, take note of how many schools are nearby and what competition already exists there too. ** Become a Franchise ** Establishing your tuition agency as a franchise can be a great way to grow your business. Becoming a franchise offers an individual the chance to run their own business without having to worry too much about the obstacles a start-up can face. By agreeing to a cut of profits with a franchisee, not only will you be providing someone with the opportunity of running their own business, you’ll benefit as well by having someone else grow your brand. When choosing someone to run your franchise, it’s important that both parties are clear on the terms so that everyone involved knows what to expect from the relationship. For more information on becoming a franchise, there’s a great post on the Business Insider website that provides more information on the subject.
Form an Alliance
Perhaps a less-risky option than franchising, forming an alliance with another tuition agency can also be an effective way to grow your business. By agreeing to work together in promoting one another’s agency, both companies can benefit from the other’s success, as you’ll be associated with one another’s brand. Perhaps you could agree to mention one another’s business in your newsletters or advertise the other’s services on site in your premises? Displaying one another’s posters and business cards can also help spread the word of both businesses. If the agency that you partner with also has a good reputation then you’ll be seen as an industry leader by association. ** Target Other Markets ** If you feel that your agency has the potential to tap into another market then expanding into that area could see your revenue increase. Watch out for local business trends or identify current gaps in the market in your local area. Perhaps you could consider expanding internally by offering tuition in different subjects. Music tuition is a particularly popular subject and not one that many traditional tuition agencies offer. If you have tutors who are specialists in more obscure subjects, you could look into offering tuition in those areas too.
Do you plan on growing your tuition agency? We’d love to hear what your
approach is. Perhaps you’ve already set a plan in action for growing your agency? How is your plan working out so far? Which strategies have you found to be the most successful? Feel free to share your experiences below.