Tutor to the rich and famous, Thomas Murr has written a thought-provoking article for estate and manor magazine about the long term prospects for both tutoring agencies, and tutoring service providers like TutorCruncher. As many of you know, tutoring companies are potentially lucrative businesses that can be easy to start and then run with low overheads. However, these things are equally true for your rivals and other looking to start out in the industry. While at the moment it seems that the number of tutoring companies is increasing all the time, so is the apparent demand for tutoring services.
Logic dictates that this cannot carry on in perpetuity and saturation in the market will be reached, potentially quite soon. Then the future for tutoring agencies is likely to be characterized by intense price and service-driven competition and innovation, with those companies that respond quickest to to market thriving and those which are unable to keep administrative costs low and deliver a competitive product failing. In this context, products like Tutorcruncher that optimize and automate administrative tasks will prove invaluable as they allow those running tutoring companies to give their energy not to the everyday operation of their business, but reaching new markets, developing new products, and tackling the inevitable challenges that await in the sector.
The article can be accessed at http://estateandmanor.com/would-warren-buffett-buy-a-tuition-agency/