8 Niche Ideas For Online Learning and Consultation Business

1. Top 8 Niches for Online learning during COVID-19 Table of Contents Online Learning Business Ideas E-Learning Business Online Language Learning Online Fitness Coaching Business Online Culinary Coaching Business Online Music Coaching Business Online Consultation Business Ideas Online Doctor Consultation Online Professional Services Consultation Online Astrological Consultation Business May 2020| Strictly Private and Confidential

2. Online Learning Business Ideas May 2020| Strictly Private and Confidential

3. E-Learning Business Many schools, colleges, and universities are closed due to the COVID-19 pandemic. Among such educational institutions, many are adopting online learning. However, the pandemic is not the only reason behind the adoption of online learning or e-learning. One of the many reasons also includes the rising college tuition fee. Students of all age-groups from around the globe appreciate the value-added through online learning. However, there are different pain points of different age groups that should be addressed beforehand. One of the most recent stories is of a woman from Israel. The recent outburst of Shiri Kenigsberg Levi, a mother of four, provides insights that online learning also influences the lives of people who are related to students attending the class from their home. The case of Levi is a unique and insightful one and should be studied by schools as well as online learning businesses to provide a better user experience. 3

4. Famous E-learning Platforms – Udemy & Coursera The online learning platform, Udemy, was developed in May 2010. Being a leader in the industry, Udemy offers courses in over 65 languages to more than 50 million students. In addition to regular classes, the online learning platform provides paid certifications. Launched by two Stanford professors, Coursera focuses primarily on massively open online courses and degrees. Just after operating for nearly two years, the online learning platform achieved 1 million USD in revenue by September 2013. How does an e-Learning platform like Udemy work? An online learning platform, like Udemy, can have three basic types of users – admin, teacher, and student. Useful features are provided to teachers to plan their course, record the video, and engage with the community. Provision to execute marketing campaigns such as flash sales and discounts are also included. 4

5. Online Language Learning According to John Knagg, a consultant at the British Council, there were around 1.5 billion English language learners worldwide in 2014. The number has seen an increase over the years. Multiple dynamics play an essential role in the economy that pushes people to learn different languages. There are multiple instances when business leaders use a language (other than their mother tongue) while entering a new market. One such case took place in 2014 when Mark Zuckerberg, CEO of Facebook, addressed students of Tsinghua University, Beijing, in Mandarin. The Economist Intelligence Unit revealed that nearly 90 percent of executives report communication as an asset to grow their business internationally. Almost all businesses depend on strong ties with different nations to sustain and understand the transaction cost of languages. Hence, entrepreneurs can enter this segment and start their online language learning websites. 5

6. Famous Language learning Platform – Verbling Launched nearly a decade ago in 2011, the online language learning platform, Verbling, aims to solve one of the primary problems in international business – language. Through a series of funding, Verbling raised $1 million in 2012 and $2.7 million in 2015. How does an Online Language Learning platform like Verbling operate? Verbling gives freedom to choose a teacher as per the budget and schedule of a user. Once a user has selected a teacher, he can attend the class inside the browser and leverage flashcards to learn the language. In addition to regular courses, Verbling has a separate plan for enterprises that wish to train their entire teams. 6

7. Online Fitness Coaching Business COVID-19 pandemic has taught different lessons to businesses around the world. One of the many industries impacted by coronavirus is – fitness. Entrepreneurs in this industry have found alternatives and are leveraging the video streaming capability of different social media platforms. Few platforms that have witnessed an increase in video streaming activity are – Facebook and Instagram. Another relevant example is YouTube. However, video streaming over a social media platform is not an organized way to monetize the knowledge of a fitness consultant. By creating an online marketplace where people can book online fitness classes, the entrepreneur can monetize in the right way. Thought needs to be given on the unique selling proposition (USP) behind starting an online fitness consultation marketplace. Fitness is a broad term and can include a plethora of sub-categories. To breakdown, courses on three types of fitness can be offered on the online fitness consultation marketplace website. The three types of fitness are physical, social, and mental. Here is a brief on the three types – physical fitness involves eating right and keeping the body fit, social fitness enables one to act during situational pressure, and mental fitness is about the emotional and spiritual health. 7

8. Famous Online Fitness Coaching Platform – HealthifyMe HealthifyMe is a health and wellness platform that started in 2012. The platform provides guidance from qualified health experts, yoga instructors, nutritionists, and more. The company launched an artificial intelligence-based nutritionist by the name of Ria, which is capable of having a conversation in different languages such as English, Spanish, German, Italian, French, and more. How does an Online Fitness Coaching platform like HealthifyMe work? A platform like HealthifyMe may work on a freemium model. While users can join the platform for free but to get guidance from a certified health and wellness expert, one has to buy a premium subscription. Furthermore, tools can be added to provide value. Such tools are – calorie counter, nutritional information checker, and more. 8

9. Online Culinary Coaching Business Competition among restaurants is steadily exceeding. At the core of a restaurant business, there is mouth-watering food prepared with creativity and science. Daniel Boulud, owner of Daniel – one of the best restaurants in New York, shares his wisdom on hiring new staff members in one of his recent interviews. “We’ll keep training them, for sure, but we want a good foundation.”, he admits. In this industry, it is a creative challenge and years of hard work to grow from prep chef to sous-chef. Enabling passionate people who want to become a chef one day gives rise to a new business opportunity – online culinary coaching. To grow a career as Sous-Chef or Chef, one has to go through different stages and earn excellence in them. From simple applications such as chopping vegetables to managing the meat station, online culinary coaching can provide support to add value. Experts in this field, such as Chef Massimo Bottura, owner of Osteria Francescana, tend to motivate his staff to keep an open mind with creative thinking and playfulness. One such instance was when he burst into the kitchen and gave the challenge to prepare a new dish based on a song Take a Walk on the Wild Side by Lou Reed. Hence, for the complete growth of a prep chef, an entrepreneur may have to introduce additional topics such as culinary creativity in the online marketplace. 9

10. Famous Online Culinary Coaching Business – Rouxbe Rouxbe is an online culinary school that was founded in 2005. The company has provided instructor-led training (ILT) to over 300,000 cooks, students, nutritionists, and more. Rouxbe has evolved over the years and modified their school curriculum to plant-based education that is taught in more than 180 countries. How does an Online Culinary Coaching business like Rouxbe work? An online culinary school website may have separate logins for teachers, students, and the admin. By leveraging live video sessions, teachers or instructors can guide the students. In addition to the video functionality, premium culinary video content can also be uploaded to make the learning experience more student-friendly. 10

11. How can Yo! Coach help to Implement Online Learning Business Ideas? Yo!Coach is a solution that reduces the time it takes for an entrepreneur to launch his online learning business. It offers essential features for an entrepreneur to manage his online learning website. The operational workflow of an online learning marketplace website is shown in the diagram on the left! 11

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13. Online Doctor Consultation In healthcare, different pain points exist that may impact the patient and provider experience. Few such pain points are – dependency of the healthcare vertical on brick and mortar setups, more time consumed during in-person visits, external factors like Covid-19 pandemic, and more. Introducing telehealth or online doctor consultation can dramatically improve patient convenience level and has the potential to solve the existing pain points. However, introducing a telehealth solution is easier said than done primarily due to existing processes and technology in healthcare. To move forward and start an online doctor consultation platform, one has to set up a pilot project and analyze the response. One such case is of Brigham and Women’s Hospital. In 2015, Adam Licurse, MD, Medical Director for Telehealth at Brigham Health, overlooked the telehealth initiative. They tested different approaches before introducing telehealth. While addressing the pain points mentioned above, they included patients who required frequent follow-ups. Today, they are adding value through innovation by providing programs such as virtual visits at a nominal cost of 25 USD per visit. Over the years, the virtual visit program has seen the most success in psychiatry as well as general medical consultation. 13

14. Famous Online Doctor Consultation Platform – SteadyMD SteadyMD was founded in 2016 and has members in all 50 US states. The company primarily focuses on primary care, functional medicine, and pediatric care. Over the years, SteadyMD has identified different niches where it excels at providing online consultation, such as SteadyMD for mothers, weightlifters, runners, and more. How does an Online Doctor Consultation platform like SteadyMD work? The SteadyMD platform has many functionalities to connect the users and service providers and engage in a better way. The experience enhancement starts right from the beginning with SteadyMD’s onboarding technology. Onboarding also involves a quiz to pair up users with service providers. Separate tools are provided for users and providers to make their lives easier. For example, to keep track of upcoming appointments by users, service providers get a kanban type tool. Furthermore, the platform is accompanied by user- friendly mobile apps to add value. 14

15. How can Yo! Coach help to Implement Online Consultation Business Ideas? Starting an online consultation business is not an easy project. One may face competition and lack the technical expertise to build an online consultation website. With Yo!Coach, an entrepreneur gets essential features such as video conferencing, instant messaging, and more to manage an online consultation business efficiently. Here is the basic workflow diagram on the left! 15

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17. A Turnkey Solution to set up your E-Learning Portal – Yo!Coach The coronavirus pandemic has brought a new set of challenges with itself. Nations are being pushed to adopt the online learning and consultation approach as it is the need of the hour. Entrepreneurs can fulfill this need by starting an online learning or consultation business with a market-ready solution like Yo!Coach 17

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