what about calling the price for my online course tuition?

We’re just going to lay it out: Consider pricing your online course at least $100. Because you’ve validated your idea, acquired an audience, and developed your course, you already know it’s valuable. A good baseline price for a course is $100, if not more.

Full Answer

How much should I charge for my online course?

Before getting down to business with analyzing the process of pricing your online course, we will make a quick walkthrough on these five pillars. As a rule of thumb, you should keep a higher price point of well above $100 for most of your courses and leave lower prices below the $100 mark for your smaller courses.

Why should you decide on a price for your online courses?

There is no doubt that deciding on a price for your courses is of huge importance. Such a decision can help you achieve your business goals from making a ground-breaking entrance to the market to tapping a new market, promoting your brand, and increasing your overall sales. Are you considering creating an online course?

What determines the cost of online college?

Several factors shape the cost of online college, including the type of school, the degree level, and any online tuition discounts. In general, two-year colleges charge less than four-year colleges, and public universities cost less than private universities.

How much does online college cost with financial aid?

By researching financial aid and choosing an affordable online college, prospective students can potentially cover the cost of tuition and fees. How Much Does Online College Cost? The average cost of online college in 2020 ranged from $9,600-$15,150 per year.

How much should I charge for an online training course?

Make your baseline price higher than you think We're just going to lay it out: Consider pricing your online course at least $100. Because you've validated your idea, acquired an audience, and developed your course, you already know it's valuable. A good baseline price for a course is $100, if not more.

How should you price your course?

How to choose a price for your online course:Do not price your course based on its length. ... Take a look at your competition. ... Quantify the value of the outcome your students can achieve. ... Test different price points. ... Consider your credibility/authority in your market. ... Consider the cost of your customer's alternatives.More items...•

How much should a mini course cost?

Create a mini course More specifically, a mini course can be described as shorter in duration than the full-length course, and often it doesn't offer additional assets like printables, so generally, it requires less time to prepare. You can make your customers happy with a mini course at a low price range of $10-$50.

How much do online courses make?

Your online course could earn anywhere from a $0 – $50k+ per month. Many course creators will earn $1 – 5k/month and there are numerous examples of online course teachers earning $10k – $50k per month.. There are lots of factors that will determine how much you can earn by selling online courses.

How much do online teachers charge?

Depending on their location and the market they cater to, newbies in the online ESL teaching field, for instance, typically charge from $12 to $15 hourly. On the other hand, teachers who have top-notch experience may charge up to $25 an hour or even more.

How much should I charge for a 1 hour webinar?

This works out to approximately $1.25 per minute. So, at the high end, a one hour Webinar would run around $75, on average, for an individual registration.

How long should my online course be?

Most experts confirm that a good length for a web-based course is somewhere between 15-30 minutes. This traditional opinion builds on psychological research, specific content patterns and, more often than not, gut feeling.

How long is a mini online course?

two hoursWhen we refer to a mini course, we mean short online course that typically takes two hours or less to complete. They cover a hyper-specific topic and are often used as a marketing growth tool. And they might be repurposed content or a unit from a larger online course.

How long is an online mini course?

30 to 90 minutesSimply put, mini course can be described as a short, online video course that you can sell for an attractive price. Usually, the time duration is from 30 to 90 minutes. A mini course is a short, online video class without downloads and printables.

How do you sell an online course?

In this article, you'll find an overview of the 10 major stages of online course creation:Pick the perfect course topic.Ensure your course idea has high market demand.Create Magnetic and Compelling Learning Outcomes.Select and Gather your Course Content.Structure Your Modules and Course Plan.More items...•

Is selling online course worth it?

Are Online Courses Profitable? Yes, they are. Online courses offer one of the best business models to digital entrepreneurs. The demand is rising and people are more than willing to pay for them, and they are one of the top ways to make money online.

How do online courses make money?

If you're ready to delve into the world of online teaching, follow the steps below.Choose a Course Topic. ... Do Market Research. ... Outline Your Course. ... Decide the Best Methods to Deliver Your Lessons. ... Create Your Lessons. ... Determine How You'll Sell Your Lesson. ... Load Your Course Online. ... Market Your Course.More items...•

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How it all adds up

A bad pun notwithstanding, these are the most important insights into our data analysis, outside of the data itself:

About the author

Lauren Cochran is the Director of Content for Podia, an all-in-one platform where online courses, digital downloads, and communities scale with their creators. Ironically, she gets tongue-tied talking about herself, and can usually be found with a to-do list in hand.

Is teaching a good experience?

Teaching is a very rewarding experience . Even if you don’t consider yourself a teacher (yet), you’ll hopefully come to see that sharing your knowledge to help people overcome their issues is a very satisfying feeling, regardless of earning potential.

Is online course good?

This one should go without saying: Online Courses are an excellent product because although you don’t need to sell in high volumes to make a decent profit (remember that your per-unit cost is virtually zero), you certainly can sell in volume.

What does it mean when you give away an online course?

When you give your online course away, it’s like you’re telling your audience that it’s not worth their time or that there’s no value to it – and that’s just not true.

What is a pre-course bonus?

It’s basically a handy tool to keep everything about your course in place. You can even send them as a pre-course bonus if you think your audience needs some prepping to be fully prepared for the course or after the course is over for follow-up work.

What does it mean to set price point at baseline?

If you set your price point at the baseline according to Teachable, you will have a much wider audience. Making it affordable to the majority means more people can take your course and if you’re solely in this for the good of the people and don’t need the income, then this area on the spectrum might be for you.

What are the barriers to pricing online courses?

One of the main difficulties and barriers when it comes to pricing online courses is the idea that you are charging for your expertise, which can be really intimidating. But something you should always keep in mind is that you are not just selling knowledge, you are selling a transformation (and if you’re not, you should!). ...

Why is value added in a course so high?

So the value added in a course is very high because you are not delivering something with expiration date, you are delivering something that can be tapped to achieve lasting results. Let’s look at the following three course topics: 5 mindfulness meditation techniques to relieve stress and improve your quality of life.

How to know how much to charge to make a profit?

To know how much to charge to make a profit, start adding up all your expenses with creating and selling the course. Another thing you need to understand, is that the effort required to market a course is independent of its price, the work is the same .

How to set a price for online private lessons?

To set the right price for your online private classes, beware of the market that you are about to join. Make some research, take a good look at the prices other teachers are setting for their lessons, and after all of this is done, choose your price.

How many hours can you book on ClassGap?

On Classgap, the students can book hours of class individually or pack of 5 or 10 hours with the same teacher. Of course, if a student buys 10 classes with you, he is really committed to going all the way up the 10 hours. Thus, the odds of keeping this pupil for a long time are higher.

What is the second variable to take into account when hiring a tutor?

The experience. The second variable to take into account is your experience with the subject and with teaching. This criterion will have a major influence on a private tutor’s salary.

Do ratings help you get more students?

Additionally, you get the lowest commission and you receive a list of potential students. Good ratings: once you've done a few lessons, you will notice that your ratings help you get more students. At the end of your classes, encourage your pupils to leave a good review about your lessons.

Can the price change in a class?

The preparation time. Finally, the price can change according to the amount of time spent preparing the classes. If a class requires you to create exercises or to do research for instance, then you can charge a little more than if you are able to arrive in the classroom without any preparation.

How much does a two year college cost?

Two-year colleges generally cost less than four-year colleges. For example, the most affordable four-year colleges charge nearly $9,000 per year in tuition and fees while the average cost of a two-year public college hovers around $3,000 per year, reports the NCES.

Why do public schools offer tuition discounts?

Public schools offer tuition discounts for state residents because state funding provides part of their operating expenses. As a result, students who choose an in-state public school can save thousands in tuition costs each year. Many public colleges offer tuition discounts for online students.

What is the first step in paying for college?

For most students, completing the FAFSA is the first step in paying for online college. The FAFSA qualifies students for federal financial aid programs, including grants, loans, and work-study opportunities.

How many college students take out loans?

Around 70% of college students take out loans to pay for school. Loans provide money to cover tuition and fees. Borrowers who take out federal or private student loans agree to repay the loan, plus interest. Students can qualify for federal student loans by completing the FAFSA.

What is the difference between a nonprofit and a for profit college?

Many for-profit schools invest in marketing and recruitment to raise revenues. In contrast, nonprofit colleges invest any profits in meeting their educational goals.

How long does it take to complete the FAFSA?

The FAFSA qualifies students for federal financial aid programs, including grants, loans, and work-study opportunities. Completing the FAFSA takes under an hour.

How much did students pay in 2017?

In 2017, students paid an average of $8,800 in in-state tuition and fees at four-year universities, according to the NCES. Out-of-state students paid nearly three times as much in tuition and fees, or an average of $24,850 per year.