Your Second Income!

[DA-LION-619]

Maths tuition company. In the beginning just me... but as it grows I shall employ more. There is a large need for it.

Let's say 10 kids and have group sessions for let's say R90 a learner. Then have grade 10. 11 and 12 for two hour sessions.
So roughly R900 per session. So its R2700 per a tutoring day.

R90? Don't undersell yourself. Minimum R100, think of all the material and all the other queries they're gonna come to you with. Once you get set-up, then think of holding an exam crash course before the exams like a 3 hour session covering past year papers like R300 a pop. Seriously you can mint it especially if you become the go to tutor, also don't forget you can have private sessions.

 

[naeem]

On the tuition bit.

I heard of this middle aged guy. Accounting teacher in high school. Offered students tuition after hours..at a fee obviously.

Anyway, this guy was running quite an operation

4 nights a week, 3 x 1 hour sessions. Each session had about 5 students.
Each session was R100 per student.

so R500 per session, x 3 hours.

= R1500 per evening.

= R6000 per week.

= R24 000 per month!

All kiddies paid up in cash.

I found it rather unethical though, he was tutoring the same kids he was supposed to be teaching in school. I get that certain pupils may need extra lessons, but not on the scale this guy was doing!

Edit to add, was not just kids in his high school, but tons of kids from other schools and grades.

But ya, if you're good in maths & science. Big $'s in tutoring!

 

[zizo911]

On the tuition bit.

I heard of this middle aged guy. Accounting teacher in high school. Offered students tuition after hours..at a fee obviously.

Anyway, this guy was running quite an operation

4 nights a week, 3 x 1 hour sessions. Each session had about 5 students.
Each session was R100 per student.

so R500 per session, x 3 hours.

= R1500 per evening.

= R6000 per week.

= R24 000 per month!

All kiddies paid up in cash.

I found it rather unethical though, he was tutoring the same kids he was supposed to be teaching in school. I get that certain pupils may need extra lessons, but not on the scale this guy was doing!

Edit to add, was not just kids in his high school, but tons of kids from other schools and grades.

But ya, if you're good in maths & science. Big $'s in tutoring!

Yes I see the huge demand for it. I curently work for SA biggest private maths tuition franchises and the owners of our branches only own about four branches, we have roughly about 1000 kids at our centres and the owners are making close to a million a month in tuition fees, which is a few hundred grand in profit each month due to the low cost of expenses.

 

[HavocXphere]

Can't think of anything viable that'll fit into my circumstances (+- living out of a suitcase).

Better off getting an extra hour sleep & performing at work...for now.

 

[Lishen23]

On the tuition bit.

I heard of this middle aged guy. Accounting teacher in high school. Offered students tuition after hours..at a fee obviously.

Anyway, this guy was running quite an operation

4 nights a week, 3 x 1 hour sessions. Each session had about 5 students.
Each session was R100 per student.

so R500 per session, x 3 hours.

= R1500 per evening.

= R6000 per week.

= R24 000 per month!

All kiddies paid up in cash.

I found it rather unethical though, he was tutoring the same kids he was supposed to be teaching in school. I get that certain pupils may need extra lessons, but not on the scale this guy was doing!

Edit to add, was not just kids in his high school, but tons of kids from other schools and grades.

But ya, if you're good in maths & science. Big $'s in tutoring!

Unethical and I'm pretty sure illegal, seen people suspended for that. You're not allowed to charge your own students for after hours lessons. It's policy.

 

[Hamster]

Guys, really. That is what you and Hamster can contribute? The word Uber?

What's wrong with comparing your idea to Uber?


Atm I'm putting my money into shares to grow and earn dividends, but you need a postmortem to make any significant returns. One day I'll look at renting property - maybe.

Best case scenario is still owning a bar on the beachfront.

 

[Venomous]

Unethical and I'm pretty sure illegal, seen people suspended for that. You're not allowed to charge your own students for after hours lessons. It's policy.

really?

little Johnny sits in class with 20-40 other children(varies per school), the 40 others do well with the teaching in class, but Johnny fails most tests.... Why should the teacher not ve compensated if he/she sits with Johnny outside of normal working hours?

Friend of mine's child is in a school. They offer extra assistance, during breaks, to small groups, without charge. And after hours they offer individual lessons at a fee. Of the fee the school keeps 25% towards overheads and other such, and the teachers get the rest of the fee.

 

[DA-LION-619]

really?



little Johnny sits in class with 20-40 other children(varies per school), the 40 others do well with the teaching in class, but Johnny fails most tests.... Why should the teacher not ve compensated if he/she sits with Johnny outside of normal working hours?



Friend of mine's child is in a school. They offer extra assistance, during breaks, to small groups, without charge. And after hours they offer individual lessons at a fee. Of the fee the school keeps 25% towards overheads and other such, and the teachers get the rest of the fee.

I really doubt that's a government school

 

[zizo911]

really?

little Johnny sits in class with 20-40 other children(varies per school), the 40 others do well with the teaching in class, but Johnny fails most tests.... Why should the teacher not ve compensated if he/she sits with Johnny outside of normal working hours?

Friend of mine's child is in a school. They offer extra assistance, during breaks, to small groups, without charge. And after hours they offer individual lessons at a fee. Of the fee the school keeps 25% towards overheads and other such, and the teachers get the rest of the fee.

Yes. You are not allowed to charge your own kids. Also the department has said that you are not allowed extra income unless you get their permission and declare it to them. But many teachers don't do this as they are earning so little so they turn to private tuition to supplement their income.

 

[Creag]

McT, ja that is not the route to go for a second income. Yes you can generate income form property and preference shares but you need a lot of shares.

In anycase, this is not the forum for that topic, but good luck.

 

[deekay]

Great topic, let's take this further and show progress for developing a second income.
I have been doing research and will be starting an ecommerce venture on certain consumer goods.

The aim is first to get to R10K profit per month in 6 months. I will probably start in June and keep this updates.

Long term, replace my work income with the side income fully and achieve accelerated FI.

 

[WebNexus]

Great topic, let's take this further and show progress for developing a second income.
I have been doing research and will be starting an ecommerce venture on certain consumer goods.

The aim is first to get to R10K profit per month in 6 months. I will probably start in June and keep this updates.

Long term, replace my work income with the side income fully and achieve accelerated FI.

Good idea.

Can you give us some more detail regarding your e-commerce venture. Namely:
-What kind of product do you plan to sell? Digital product or physical
-If physical, how do you plan to distribute it? DIY or paid service?
-What payment gateway are you planning to use. I used payfast in the past, but I am not uptodate on the best offering atm.
-How do you plan to market it? If you plan to use social media I recommend you YouTube Facebook dark-posts to hit your target market.
-And if the answer is not obvious from the first question, who is your target market.

If the answers to these questions is "I haven't looked into it yet" that is fine. I'm just curious how people overcome these issues.

 

[deekay]

Good idea.

Can you give us some more detail regarding your e-commerce venture. Namely:
-What kind of product do you plan to sell? Digital product or physical
-If physical, how do you plan to distribute it? DIY or paid service?
-What payment gateway are you planning to use. I used payfast in the past, but I am not uptodate on the best offering atm.
-How do you plan to market it? If you plan to use social media I recommend you YouTube Facebook dark-posts to hit your target market.
-And if the answer is not obvious from the first question, who is your target market.

If the answers to these questions is "I haven't looked into it yet" that is fine. I'm just curious how people overcome these issues.

So this is where I'm thinking of going, but

-What kind of product do you plan to sell? Digital product or physical
Physical

-If physical, how do you plan to distribute it? DIY or paid service?
Not sure, might start off DIY, using post-office but if this is unreliable then courier service to be determined.

-What payment gateway are you planning to use. I used payfast in the past, but I am not uptodate on the best offering atm.
I'm starting small, so I won't start have a website up until I validate the demand, will probably use existing markets/sites for this.

-How do you plan to market it? If you plan to use social media I recommend you YouTube Facebook dark-posts to hit your target market.
I don't think there will much marketing at first, more later. Probably start with email marketing, then move to the others when I set up a site.

-who is your target market
Right now, this is to be determined.

Can you answer the above questions for your ecommerce endeavor? Also how has it been performing?
Keen to get an idea of the potential market size / demand?

 

[ActivateD]

My second income comes from my previous company as i do freelance work for them. I was the last person in the company who knew how to install,configure and troubleshoot one of the systems my company sold to clients, they asked me to look after one of their clients for them. I am getting more money from them freelancing then I did while working for them.

 

[^^vampire^^]

Run a web development and hosting company. Nice as once people are hosting with you they are generally reluctant to change so it's almost guaranteed passive income. Also do development from time to time to boost income. Has managed to raise about R250k in the last few years which paid for some nice holidays

Looking for something else to do now.

 

[shauntir]

I do some freelancing from time to time. Built a nice web app for a client and host it too. Receive about -+R 2k profit a month from the hosting.

Also managed to buy some decent hardware with the extra cash. Need to focus on expanding the hosting but it's a lot of effort to do so initially when you have a full time job.

 

[ShareMosselBay]

really?

little Johnny sits in class with 20-40 other children(varies per school), the 40 others do well with the teaching in class, but Johnny fails most tests.... Why should the teacher not ve compensated if he/she sits with Johnny outside of normal working hours?

Friend of mine's child is in a school. They offer extra assistance, during breaks, to small groups, without charge. And after hours they offer individual lessons at a fee. Of the fee the school keeps 25% towards overheads and other such, and the teachers get the rest of the fee.

I find this surprising if true since my former math teacher did exactly this - in the school library.

If I remember correctly he bought one of those franchises with math cards etc.

I took extra classes since Std6 (1996), I guess he had to have had the school's permission; but I don't think it was frowned upon since a large group of learners used the service.

It may be that the position changed since then.

 

[cerebus]

Guys, really. That is what you and Hamster can contribute? The word Uber?

You love posting blue-sky ideas and best possible income scenarios, and if someone comes along and points out that the concept isn't particularly original and the figures are astronomically optimistic, you tell them they're being non-contributors. Sure, if you can convince 20 million people to buy your R1 app that's in no way at all related to other taxi smartphone apps, you can make R20 million, go for it mate, don't listen to the nay-sayers.

 

[alqassam]

It's not quite a second income just yet, but I have been investing in the JSE through my own trading account for a few years now. Dividends received are always ploughed back into buying more shares. One day in the future it'll be a supplement to my income. That day is still a long way off at the moment.

Always reinivest Divvies.

 

[alqassam]

I want to build a private school in central JHB, looking at government financing.

But its alot of effort and a big issue to find the land.