Many teachers can feel frustrated by the education system. They will want to make a difference in young people’s lives but feel limited by poor processes, inferior textbooks, or an uninspiring classroom setting.
If you’re tired of teaching but don’t want to abandon education and, in turn, young people, you could enjoy a career as an educational consultant. You can then shape learning and teaching. If this sounds perfect, read this handy guide to starting an educational consulting firm.
Apply for an MA in Education
To become a qualified educational consultant, you will need at least one education qualification. If you are a teacher, lecturer, or administrator, an MA education online program could be a natural step to take in your career. However, the course is open to applicants from various backgrounds who have a bachelor’s degree.
By completing the course, you can flourish as an educator, as you can examine academic systems, help shape the curriculum, analyze teachers’ performances, provide careers advice, and much more. Plus, you can work in traditional and non-traditional education settings, from schools and universities to prisons and museums.
Write a Business Plan
To run a successful education consulting firm, you must have good business acumen. Remember, you’re not only an educational consultant but an entrepreneur, which is why you must write an effective business plan. It will provide a path to success, as it will detail the investment you will need, your target market, your marketing strategies, and financial projections for the next five years.
Specialize or Generalize
Before you launch an educational consulting firm, you must consider if you want to specialize in a topic or generalize in education. For example, you could stand out from rivals by specializing in:
- Career advice
- Special needs
- Early childhood education
- Exam preparation
- Teacher development and training
- Online education
- Learning product development
- Enterprise education
Educational consulting firms may have direct contact with a learner or work closely with various organizations to fix systemic issues and shape learning and teaching strategies.
Research the Competition
It is vital to separate your firm from the many educational consulting competitors. As mentioned, a specialization can set your company apart from an industry rival. For example, specializing in development disability education could result in your firm securing a contract at a special education organization. Thoroughly research local competitors to help your company stand out and review their various strengths and weaknesses.
Talk to Successful Education Consultants
Before getting your consulting firm up and running, talk to one or more educational consultants. While local competitors are unlikely to provide helpful advice, professionals in another city might be more than happy to offer tips and share their experiences. It could help identify the potential obstacles you may need to overcome when launching a business, which can help you avoid various mistakes.
Cater to Different Demographics
If you would like to increase your firm’s profitability, it might be a wise move to cater to a wide variety of ages. For example, you cannot only help to shape education for students within school age, as you could provide advice and support to adults hoping to advance their education with a bachelor’s degree, a Master’s degree, or a Ph.D.
Pick the Correct Legal Entity
The business structure you choose can determine your company’s growth and liability. With different options to choose from, you might be unsure about the best legal entity for you.
For this reason, you must thoroughly research the different structures to avoid making a big mistake. For example, a limited company is a privately managed business responsible for its actions and finances, which will free an owner of personal liability.
Secure Insurance
Protect your firm’s finances by securing different insurance policies, such as:
- General liability insurance
- Professional liability insurance
- Employers’ liability insurance
Investing in different insurance policies could protect your company’s finances should an employee experience an accident or if a client takes legal action against your company for its advice.
Spread the Good Word
Secure many clients by spreading the good word about your firm. Use social media to promote your services, highlight your expertise, and network with potential clients. For instance, you can use LinkedIn to connect with teachers, administrators, education entrepreneurs, and more. Don’t be afraid to toot your company’s horn and promote your professional knowledge and experience, as it can increase trust in your firm.
Consider Acquiring an Existing Firm
If you want to avoid the many obstacles of launching a startup firm, you could acquire an existing business. Of course, you will need the capital available to purchase a successful business from an entrepreneur, which might prove a challenge for some educational consultants. However, securing the investment might prove a cheaper option over kickstarting a new venture.
Before you invest in an existing business, you will need to do your due diligence on the firm. For instance, review its finances, reputation, and services to ensure it will provide a much bigger return on investment. Identify how much money it has generated year on year to ensure there is room to increase its profitability, and ensure the firm hasn’t experienced bad press or many negative reviews from past clients.
Invest in an Educational Consulting Franchise
Another option is to invest in an educational consulting franchise, which could provide a quick route to successful business ownership. Once you have invested capital into an early childhood education franchise, you can use a franchise’s business model and various resources to start acquiring clients and generating a profit.
Conclusion
If you are serious about positively shaping students’ education and academic potential, you could enjoy much satisfaction by running an educational consulting firm. Of course, you will need to earn a qualification in education to be taken seriously by parents and organizations. Plus, you will need a rock-solid business plan, good business acumen, and competitor awareness to build a successful firm. You could even improve your chances of success by buying an existing firm or investing in a reputable franchise model.
