Online teaching is an eLearning business and you should choose its model in advance. This will help to identify the way your school makes money.
Here you may have a few options:
Membership. In this option, you offer your services for a period of time. Students need to choose a plan and make payment. Then they will have access to the material for a specific time you offer. It may be a monthly or yearly membership plan.
Along with the standard plans, you may make some special offers, sales, and similar exclusive options to engage more people and extend your audience. All the students need is to learn how to sign up for online school and choose a pricing plan to subscribe to.
Individual Class Payment. For this offer, your students need to pay for every single lesson.
So, they may stop it any time just not paying for the next class. This is especially effective for beginner teachers. In this way, people won’t worry about paying a significant amount of money. They pay only for a single private lesson. If they don’t like they stop. Such an approach decreases the risk to a minimum.
Once you get a reputation and people know you are a qualified specialist, you may go onto other models if you find it appropriate.
This version is also effective for online courses. Students pay for a video course and it is always available for them as far as the teacher runs the platform.
Certificate Monetization. Some platforms help to offer free teaching services. Students pass the courses but in order to get a certificate of completion, they need to make a payment.
No matter which business model you choose, you will incur a host of expenses in the form of software subscriptions, legal fees, etc. Therefore, as a business owner, it is very important to track and manage business spend as it happens to understand your finances and stay profitable.