Can Education Becomes A Profitable Business With A Humanitarian Vision?
Today, the education industry is deemed as one of the fastest and progressively growing sectors worldwide. It is also currently one of the largest industries globally that ensure profit since people need to be educated to make progress in life.
Education has been considered as a significant factor of civilization and industrialization. As a matter of fact, humans are compelled to learn every day, either through formal or informal setting.
Why Is Education Profitable?
Some might probably wonder why the education industry can be a good investment start. But the mere fact that education has been integrated into the lives of humans make it a very booming and lucrative industry, Profitable Venture notes.
Education is also profitable especially in countries where it is required for every child of school age. Governments are also tremendously investing in education to improve their nation, even urging private investors to invest in the education sector so that free education primary school to university level can be offered.
In addition, the business opportunities in the education industry is also huge. In fact, a creative and very imaginative entrepreneur can have boundless opportunities to make his or her business concept highly marketable in the industry.
The major question, however, in the thriving education industry is not how profitable the business is but how entrepreneurs will be able to maintain its money-spinning potential while being influence with a humanitarian vision.
How Can Education Becomes A Profitable Business With A Humanitarian Vision
Making the education industry profitable while maintaining its humanitarian vision can be quite tricky and challenging. The reason? Let's face the fact that there will be times entrepreneurs tend to forget the reason why they invested in the education sector, especially when it brings massive profits for the investor.
When educational institutions such as schools, universities and colleges behave like businesses, however, education and its standards may suffer. According to Los Angeles Times, there has been a disturbing trend in higher education as universities adopt the corporate approach of profit and loss.
This troubling report is a clear example of the challenge faced by investors in the education sector when they get blinded with huge profits. They don't only abandon the consequences of institutions getting cozier with businesses and industrialists, they also accept donations with strings attached, not to mention sacrificing the good quality of education.
How Nonprofit Schools Make Education A Lucrative Business
It is already a known stratagem that several for-profit schools boost their enrollments and profits through intense marketing strategies - from offering financial aids to hiring enrolling managers. But this approach is also similar in many public and private nonprofit educational institutions, particularly when it comes to online education, where almost 50 percent of the tuition money go to online program managers (OPM, with some taking up to 50 percent, The Atlantic reports.
This practice of online tuition sharing is nothing new. In fact, the practice has been known from the moment educational institutions initially contemplated teaching online, making tuition-splitting a current trend at nonprofit private and public schools.
Unfortunately, it's quite difficult to condemn these practices in the education sector. Even though the practice aims to make higher education more accessible and more affordable, Obama administration's former Department of Education deputy undersecretary and The Century Foundation senior fellow Robert Shireman said "commission-paid sales people" will say and do anything to make a sale.
"We all have the impression that commission-paid sales people will say anything to make a sale, and that has certainly been true in higher ed," Shireman said.
Profitable And Trending Business Ideas In Education
Despite the negative issues surrounding the potential profitability of the education sectors. There are several education-driven business ideas that can be a good investment venture. Check out 99Business Ideas and Profitable Venture for a comprehensive and detailed list of suggested and profitable concepts.
So, what do you think is the best approach to make education profitable? Sound off below and follow Parent Herald for more news and updates.