eLearning Business Providing Courses for Entrepreneurs to Learn How to Build & Grow Their Own Online Business – $175 AOV – Library of Videos & Content

Pending

Website Closers® presents a unique eLearning Business geared towards educating gig economy entrepreneurs on how to start up, run and become successful in their very own Business. The great thing about these gigs is that, like being an Uber Driver, each entrepreneur can decide whether they just want to do this as a side gig, or as a full-time job. In either case, there is plenty of money to be made.

As for Ownership of this Business, the company is well run with all of the systems and processes in place to smoothly transition the business to new ownership who can then take the reins and continue the company’s great growth trajectory.

The Program

The company’s program is dedicated to teaching its students everything they need to know to develop their own business, leveraging one of the most popular platforms on the Internet: from generating leads, to defining the work product and deliverable, to hiring the right candidates to perform the work, to collecting payments. The core of the training is comprised of a library of 34 detailed videos that guide students through the entire process. There are sales scripts provided to ensure students are hand-held through the entire business development process. With numerous testimonials praising the success they have enjoyed from the program, students are developing strong businesses that can continue to flourish for many years to come.

To date, the business has not experienced any seasonality, with sales consistent throughout the year. However, given the nature of the business, there could be an opportunity prior to, and during, the holidays to target students looking for a little extra cash to spend on holiday gifts. With a high average order value of ~$175 and content that is evergreen in nature, the gross margins are very high, leaving room to leverage profits for ad spend.

Ownership & Staff

As the courses are made up of prerecorded content, staffing is minimal, and operations are a breeze. The company leverages 3 employees, consisting of 2 VAs that assist with log-ins, refunds, and FAQs, while an ex-student provides answers to student questions. Having a former student address current student questions allows for valuable, spot-on feedback to the owner while also positioning his experience with the program as a living testament to the effectiveness of the program.

The owner works just 2 to 3 hours per week. His time is typically spent answering questions from the customer service team and experimenting with Facebook advertising.

Marketing

Testimonials contribute to a large part of the success of the company. Students hearing of other students’ success in the program is a natural selling point. About 3 students per day reach out to the company to let them know that they have closed a new client of their own. Many of these students are earning $7,500 to $9,000 a month, leveraging the skills taught in the program.

The company’s marketing strategy is fairly simplistic, consisting exclusively of paid ads on Facebook. Facebook ads plus word-of-mouth traffic provide an average unique visitor rate of over 7,500 every month and the business has accumulated over 7,000 email contacts during its brief existence.

Scale Opportunities

Growth opportunities abound. The current owner has taken a fairly conservative approach to Facebook advertising as he does not have much expertise in this area. There is also minimal content on the company’s website. Implementing an SEO strategy should provide a good chunk of organic traffic, while advertising on  TikTok and YouTube could provide significant traffic. Social media, in general, should be fertile ground for the demographic this business is targeting. Influencer marketing, especially with former students, should be a natural growth opportunity, as would an affiliate marketing program.

The owner has just started experimenting with email marketing, with test email blasts generating about $4,000 in additional income. Exploiting this marketing channel with upsells, cross-sells and new services would provide a new avenue of growth at minimal cost.

The company currently provides a one-time charge service. There are opportunities to build recurring revenue streams via ongoing coaching, access to mastermind groups and/or a continuing education program, adding monthly video content, training and webinars.

Summary

The future is bright for this young business. The global eLearning market was valued at an impressive $250.8 billion in 2020 and is predicted to rise at a CAGR of 10.5% to hit $457.8 billion by 2026. Additionally, the growth of the gig economy has made the idea of being your own boss much more top of mind. The company’s main demographic, individuals looking for a side hustle that could potentially turn into a full-time job, fall well within these trends. There is a vast potential customer base looking for these types of opportunities. With a sizeable untapped market and virtually no competition, in the right buyer’s hands, this business could experience tremendous growth.