“How profitable can a tutoring business be?” Is a difficult question to answer because there are so many variables.
What are you aspirations for the business? Will it just be you tutoring as an additional income (as many tutoring businesses are) or will you have tutors and a team of employees working for you?
You will also need to know your numbers: the costs which will be involved in tutoring and what you need to earn. How many people do you want to tutor? How many hours do you want to work?
Will you have travel expenses or will the tutee travel to you? Will you pay for a business mentor or additional training? How much will your insurances cost? What other expenses will you incur?
What type of resources will you use? Is there a means of creating a passive income through your tutoring business?
Once you have got these figures you will be able to establish what your hourly wage needs to be.
Attached is a download to help you work out some of the answers to these questions and help you establish your income and what you need to charge.
REMEMBER: YOUR INCOME FROM TUTORING MAY DECREASE DURING THE SCHOOL HOLIDAYS. You will need to budget for this.