💸 $15k Teaching English Part-Time

GM. This is Work "After" Work, the newsletter that Jeff Bezos said inspired him to start Amazon. That’s not true, but maybe we’ll be the inspiration for your next trillion dollar business.

It's Friday, let's boogie:

• 🧑‍🏫 Teaching English Online

• 🧵 $20B habits - a thread

Time to get goin: 1 weekEst. start-up cost: $0Potential return in 6 months: $15,000

MAKE MONEY SPEAKING ENGLISH

Yep, you can make money teaching your first language.

I didn’t even know you could make much doing this but turns out, there’s a huge market for it.

Being in the US, where everyone speaks English, it’s easy to forget there’s many people in other countries that would do a lot just to learn it.

The US is the land of opportunity and for someone coming here trying to make something for themselves, not knowing English is a huge disadvantage.

And that’s why learning it is valuable to so many across the world.

The US has the biggest economy and most businesses either exist here, or do some sort of business here.

If someone in a third world country was able to learn English *assuming the company was providing visas* they could get a job paying US dollars, which is like gold to many, especially since some countries are experiencing > 70% inflation right now.

And you can make a pretty penny teaching what seems to you just like everyday communication.

I found on reddit a pre-grad student making $2,500 month working 30 hours a week. Pretty good for someone who's studying and taking the GMAT.

And for how much I clown relaxing on the beach… you could actually do this while sippin’ an ice cold piña colada 😎 and that’s why I’m going over teaching English online as today’s side hustle!

3 EASY STEPS TO GETTING STARTED

1. Choose a service

If you Google “teach English online", dozens of different services will pop up that you can choose from.

VIPKid is a popular one people use but it does require a bachelor’s degree so if you don’t have one, Engoo or Cambly look to be the other best options. 

And while these services will take a cut, they're worthwhile because most do all the work for you like:

• Pairing you up with clients across the globe

• Providing you curriculum to teach

All you have to do is some prep work beforehand and show up!

What can you expect to get paid?

From what I've found the pay ranges but you can expect anything from $10 to $20/hr and work into more incentives as you build referrals with your customers. Not bad for teaching little kids how to speak English.

There are some people online saying they make between $1,200 and $3,000 per month, but it’s all dependent on how much you are willing and able to work.

Another nice benefit of these services is that you can teach wherever and whenever you want so theoretically, you don’t even need to leave your house. 

Plus, most are flexible with hours. So if you have a day job or go to school, you could swing it on the side.

2.  Submit application

Once you go with a service, they're going to make you submit an application. 

It's nothing crazy. No interview or resume don't worry - I know how stressful those can be.

Usually it's just some questions about your experience and maybe a demo video of you talking to make sure that you can actually speak English.

3.  Start accepting clients

After you're approved, it's game time. The service will do the heavy lifting for you and find you students to teach.

You'll teach, they'll pay the company you’re working for, and then that company pays you. Pretty straightforward.

With a twist: If you're more of an entrepreneur and wanted to take this in a different direction, you could try to create a business like this yourself and be the one hiring teachers because these companies make an absolute killing.

VIPKid does $3.2B/yr and Cambly does $400M/yr 🤯 

That's a lot of zeros and I can do a breakdown of how you'd go about this if you guys want it. Just reply and share this newsletter with a friend!

CAN THIS SCALE? 🤔

This is definitely the biggest drawback to this side hustle, the only way to make more money, is to work more. There's no passive income aspect to this, and you know how much I like my passive income :)

Obviously you have the flexibility to work as many hours as you want in order to increase your pay, but you can’t really duplicate yourself.

I'd almost start this with the sole intent to teach as many people as possible then start my own service and keep the clients. That way you keep all the money.

MY TAKE

I think this is a really great side hustle for teachers, or those with a passion for English. This is more of a way to make a couple hundred bucks more per week by working a few extra hours each day.

Maybe it pays for that trip you’ve been wanting to go on but it's not going to make you a passive income millionaire.

Nonetheless, if you give this idea a try, write back in a few months and let us know how it’s going!

HOW BILLIONAIRES BUILD BUSINESSES

Twitter knows me too well suggesting these tweets. And of course I loved it 😂 here's how a $20B empire was built:

And that's all for today folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.