HG Biz Plan: Language school
The premise: I believe that we’re about to see the massive growth of a metaverse in which people can easily travel from one public world to another. Over time, the technology will become increasingly easy to use and realistic — and we will see an explosion of companies offering products and services in this metaverse. My team and I have been brainstorming some ideas of what these products and services will look like.
Language learners could interact with each other, with teachers, and with native speakers in virtual environments. The virtual environment would allow native speakers from multiple countries to meet with students without the travel costs associated with either bringing the teachers to the students — or the students to the teachers. The virtual setting is also perfect for role playing — practicing common conversations.
The revenue streams
Language instruction is a high-touch business, requiring personal interaction between teachers and students. However, this can be leveraged by using automated characters that engage students in conversation, or sending students on field trips to grids where the target language is spoken by residents.
Early entrants can build brand name recognition and referrals from former students.
There are few obstacles to entry in this space. In addition, traditional education institutions can launch their own virtual programs at any time, leveraging their existing brand names, marketing channels, and student and alumni networks.