My name is Alex Genadinik. I've been in Elearning since 2014 and have over 500,000 students. Here is my Udemy teaching profile.
In this article, we'll cover:
1) How much money it costs to get into the Elearning business.
2) Different ways you can get into the online course business
3) How I can help you start your own Elearning business.
I am also available for Elearning coaching to help you plan, create, and promote your course.
Time is valuable. If it takes you a long time to research equipment to buy, become good at using that equipment, perfect your presentation skills, plan your course, create your course, and launch it, the cost of this time is quite high. This is the first hidden cost of starting this kind of business, not to mention that the learning curves tend to be longer than you hope.
To create your own video content, you need a few pieces of equipment. Some are required and some are optional. The necessary pieces of equipment are a good microphone, a set in which to film, camera, video editing software, and lights. The optional pieces of equipment are a teleprompter, microphone mount, and additional cameras so you can have footage from multiple angles which would give your videos a more professional feel.
The costliest pieces of equipment are your microphone (good one is around $200), camera (ranges from free on your phone to thousands of dollars), a lighting system ($100-300) and the studio space you use to record. Even if you record at home, it is still costly to allocate a space for recording because it will take up a significant part of a room which may irritate people you live with.
Equipment like filming and editing software, teleprompter, and many accessories like a pop filter, cost under $100 each or under $10 each, and don't add up to a big sum.
The only remaining cost you have is the hosting of your courses. Whether you host your courses on Teachable or Thinkific, to get premium accounts, there is a monthly fee. The fee isn't a big one, but since it's monthly, it adds up over time to be one of the more significant costs. Take a look at all the equipment and software needed to make online courses.
Marketing is tricky because if you are savvy with it, the costs can be nearly zero. But if you are heavy-handed with your marketing, you may end up experimenting with ads which may cost hundreds or thousands of dollars. Although if you pursue free marketing strategies, your time and effort will become a significant cost.
When I started making courses in 2014 and YouTube videos much earlier than that, I truly believed that I was creating good content. But I wasn't. Even though I was confident about what I was saying, I wasn't good at filming, editing, audio, or presenting. My videos were unwatchable by today's standards.
Every year since then I improved and thought that each year my videos were now good. But every year after that I looked back at my courses and was disappointed by how bad they had been. It's taken me many years to become a good instructor and time measured in years in the costliest of all because you want to sell high quality courses to your students, not mediocre quality. And the blindspot many new instructors have is that they don't know what their problems are as instructors, and assume that they have none. But we all have weak points.
I license my already-made, high-quality courses that you can begin selling overnight on your own website. The license fee is $500 per course, but you probably already understand that this is incredibly cheap since you don't have to buy equipment, spend time recording and re-recording, and get a student-tested and proven quality course overnight. Please read how my private label rights PLR courses licensing works to fully understand the course licensing process.
If none of the courses I have in my available library are a fit for what you need, you can get a custom course made for you. But that is significantly more expensive since it requires a significant manual effort.
Lastly, there is an online course franchise option available in which I provide three things. The first thing you get is my courses to sell just like you would if you licensed them. The second benefit you get is a website that I create for you. And the third benefit you get is coaching to give you support on an ongoing basis to succeed.
All these options minimize risk and costs for you to get started. Of course, the ideal solution is for you to already have courses and already be selling them overnight. But that isn't possible. So you must be realistic about what you can expect. And as far as realistic solutions go, these options are quite practical. The best and cost-effective option is for you to license the courses and create the website on your own to minimize the costs.