Educational arena is one of the most potential segments for a range of entrepreneurial activities. There is a vast scope to do a profitable business in the education industry. Some of the avenues for education entrepreneurs include setting up schools and colleges, establishing institutes to offer professional and career oriented courses; running vocational training institutes and industrial training institutes, etc.
In addition, there are also other avenues like setting up knowledge industries like developing educational materials, offering training programs, orientation programs, personality and self-development programs and skill development programs. The offshoots of educational entrepreneurial activity can be publishing of books and promotion of educational and training material and development of software and technology needed for digital education. Thus, the scope for doing a highly profitable business in this segment is indeed vast and never ending.
Education entrepreneurs can innovate a variety of entrepreneurial activities ranging from small to large sizes. For instance, a graduate setting up a private coaching or tuition centre for a group of students is a budding education entrepreneur. With regard to such activities, the investment is rather very minimum while the venture can yield high returns. One of the most important aspects to note here is that most kinds of education entrepreneurs invest in their knowledge and teaching skills and therefore knowledge and educational resources are the prime investments in the education arena. The second level is developing a team of knowledgeable and accomplished professionals to expand the venture. Since education is a crucial need in a society, there is a never ending demand for education. However, the fact remains that an education entrepreneur needs to constantly update their knowledge, resources, technology and methodology in pace with the advancements from time to time to ensure continued success.