In your own words, what does your company do?
My company, Teacher Jade is two-fold. I have an online academy that offers virtual courses for youth ages 8-18 and I also teach people how to develop and market online courses. My Academy offers writing courses for youth with plans to expand by adding literature courses by the end of the year. The courses are developed for homeschooling families and as supplementary courses for those attending traditional schools.
📈 Monthly revenue: $22,000/month (working approximately 15-20 hrs/wk)
📈 ~% Churn: N/A
📈 ~% Net profit: $17,500
📈 Funding: N/A
📈 Initial cost/investment to start the company: Zero-dollar startup cost; however, if someone wanted to start, the initial cost includes access to a device that can connect to the internet.
📈 Number of team members: 4 independent contractors
📈 Number of founders 1
📈 Started: 2018, August
How does the company make money?
💰 The company offers online courses ranging from one-time classes to semester-long classes. The cost per class varies from$18-25/25-40 minute class with enrollments varying from 4-15 students. Example: A four-week course that meets for 40 minutes/class costs $96 (minimum enrollment: $384; maximum enrollment: $1440).
💰 Writing workbooks are also available and range from $9.99-24.99.
3 strategies that have worked to attract and retain customers?
✅ Discounted courses for returning learners: For families that enroll in Part I courses, are offered 10% off when they re-enroll
✅ Word of mouth/Newsletters: Providing quality courses has led to other families sharing information about the Academy course which leads to re-enrollment and new enrollments.
✅ Providing quality courses: The classes offer accommodations and modifications to reach the needs of all families and classes are inclusive
3 things that you’ve learned about hiring and retaining great talent?
✅ New teachers can choose their own schedule, which lends flexibility and opens the availability for when courses are offered as the Academy is global.
✅ New teachers have to complete a mock course before an interview which allows the hiring team to determine if their teaching style would fit the Academy.
✅ Training is provided to ensure that the quality of classes offered to families is up to par. There is a three-month trial process and a limitation on how many courses can be offered to determine if they would be a good fit for the long term.