The online education market in India is expected to grow by a staggering 50% during 2021-2025 to reach $5 billion by the financial year 2025. The
Brief us about your business model. How did you get the ideas of this business?
At Tax4wealth, we create verified content through practising professionals who are experts in the financial field. Our motive is to simplify the financial planning of people so they can manage taxes and compliance in a simple and smart way.
We have started Tax4wealth by keeping all financial needs in mind from salary individuals to MSME and more. GST still is a thing that is difficult to understand by many. Through our content and videos we made
We are following a 360-degree approach to display our content that should be easily understandable. We are available on OTT, Google plays store and the web. In this unprecedented time, many professionals lost their jobs or got a pay cut. We thought to create an amalgamation where both can be benefited from achieving financial goals. We have already delivered more than 1000 free educational videos related to tax, stock market, mutual funds, GST etc. on our platforms with the help of various recognized professionals.
How are you different from the existing competitors?
We provide informative videos free of cost. Also, we have been offering paid courses that are very much in demand in the professional world. These videos give a boost to the career in the respective domain/field.
Our USP is our specially curated content that provides apt information regarding financial planning.
It is designed meticulously to solve the purpose of each working professional without visiting a chartered accountant.
We are propelled with the idea of skilling India by disrupting the traditional way of textbook teaching and reaching everyone beyond the boundary of cities and countries with the help of enabling technology.
What is the funding status and monetization model?
We have received funding and tech support from VisionIAS which is a leading online IAS coaching centre in India. In future, with the help of VisionIAS, we will be able to produce more content for our clients/customer/students. With this association, we are aiming to become the biggest content creators in our domain. We are targeting 200 plus courses in the next 8 to 10 months.
What challenges are you facing in running your business?
Well, any new business setup in its initial stage faces difficulties and so did we. From convincing professionals to make videos without paying them was one of the challenge for us. As we have more than enough time to start the process. Slow but steady wins the race, so we did. Today, we are able to pay our professionals and can add more videos for our viewers.
How do you look at expansion?
We are aiming to become the biggest content creators in our domain. We are targeting 200 plus courses in the next 8 to 10 months. We are also increasing our team and sales staff to 200 plus in the next 5 to 6 months to increase the production and sales volume, so we can provide more content to the people who are choosing Tax4wealth to shape their careers.
We are also planning to open small studios for our partners all across major cities in India.
What has been the biggest learning’s so far?
Crisis creates opportunity. It is apt for us. Have we ever think about online learnings? We were watching videos but never came across such an opportunity. Obviously! Video content was available but not for all the viewers. Lockdown has pushed us towards technology so we can be future-ready. I take this pandemic as a learning for all. Online learning was an absolutely new mode of learning for all of us. But, we are happy that we are able to adapt ourselves to the new scenario and learning. With the help of technology, e-learning is becoming a part and parcel of our education system. We can say that the present educational system is no longer equal to the traditional classroom setup. That’s where edtech comes in.
What is the market size and opportunity? According to KPMG’s Online education in India: 2021 report, by 2021, the industry could be worth $1.96 Billion with CAGR 52%.
The online education market in India is expected to grow by a staggering 50% during 2021-2025 to reach $5 billion by the financial year 2025. The phenomenal opportunities for the sector in India becomes even more apparent when compared against the global benchmark. The global e-learning market size is projected to grow $370 billion by 2026, from $226 billion in 2020, at a CAGR of 8.56% during 2021-2026.
Source: Business World