Read on to know how you can become a career counselor and earn great revenue by guiding people in finding their career.
Unlike the earlier generation that had lesser choices when it came to choosing a career, today’s generation has uncountable career options to choosefrom after they finish their schooling, thanks to the increasing awareness and many new avenues. In today’s time, aptitude is given importance while choosing a career. But many students fail to evaluate their aptitude by themselves, that’s why they seek career counselors to help them out. Studies have revealed that around 85% of the students are concerned about which option to choose after 12th and even with 92% they don’t get any career related guidance. This makes the career counseling business a lucrative opportunity for entrepreneurs in the field of education.
According to the recent study, India’s 350 million students need at least 1.4 million career counsellors. Read on to know how you can become a career counselor and earn great revenue by guiding people in finding their career.
Getting trained in the skill can increase the chances of a successful venture in the field. It becomes important to get a formal degree as it adds to the credibility of your business. Educational courses such as a bachelor’s degree in counseling or human services can help you in picking up the nuances of a professional career counselor. Other than this, you should have an in-built skill to recognise the talents of others to become a successful career counselor.
Choosing a Business Model
Career counseling is a lucrative business option. You can either start an independent business or can buy a franchise of existing player in the market. A fresh business could cost you around Rs 10-15 lakhs (considering the fact that everything will be started from scratch). While big players like Career Launcher, a career and education counseling company, offers lucrative franchise opportunities to aspirants and will be a proven model. The investment required to buy a franchise is Rs 5 lakhs for the area of 1000 sq ft.
Developing aBusiness Plan
After obtaining a degree, the first step that has to be taken to start the business is to develop a business plan. Before running a fresh business, lots of things have to be taken into consideration. Various business aspects, such as target audience, market competition, commercial space requirement, staffing requirement, licensing, and other obstacles are a must to be included in the business plan so that you don’t face any problem while running the business. Even if there are any obstacles that you think are about to come in the near future, you should be prepared to fix them. Preparing a business plan could help in optimising the amount of investment put in to setting up the business.
After completing the business plan, you need to register the business. Expansion potential of the business must be kept in mind while choosing the business entity. For example, if you wish to be an independent operator, then operating as a sole proprietor will be beneficial to you. If you wish to start an agency, you will have to form a limited liability company. The investment needed to register your business in India will take around Rs 14000 for an authorised capital of Rs 1 lakh.
Designing customised services for each and every consumer is an approach that is being taken in almost every business idea, and it will even work for the career counseling business. As already mentioned, the students come to a career counselor when they are in doubt about their career choices, and doubts can vary from person to person. To get into the psyche of your consumers is an important aspect here, so that you try not to disappoint them through your services. Make a blueprint of all the solutions you could provide to your customers before even going inside the market.
Collaborating with other Organisations
As the target audience lies mainly in the education sector, collaborating with other institutions like schools and colleges is a very good option to expand your business. These days, many government schools hire career counselors and career counseling agencies, so that they can help students in finding their potential. Organising career counseling workshops in schools and colleges is considered to be quite lucrative to flourish this business even more.