This online opportunity is an Education Technology (EdTech), eLearning Platform in the Medical Student Test Prep Vertical, offering USMLE programs both online and offline, with 75% of all testing currently performed online, where demand has accelerated due to the COVID-19 Pandemic. Every medical doctor candidate is required to pass this test before becoming licensed to practice in the US. From domestic students needing to brush up, to international students who are underprepared, this EdTech Company has a solution for every student. Fortunately, the company was already well down the road on offering an online platform pre-COVID19, which now represents a huge opportunity to scale. While testing is currently limited for some of the USMLE Exams, and paused for others, there is enormous pent-up demand for these services. Given the unexpected gap between school and testing, the company’s services will soon enjoy historic demand, which is unlikely to weaken in the near term.
This Internet Business provides In-Person and Online (currently 75% Online and 25% In Person) medical educational services for the USMLE Step 1, Step 2 Clinical Knowledge, and Step 2 Clinical Skills Exams for Domestic and International medical students that want to obtain a medical license to practice in the United States. All courses include lectures, textbooks, practice exams, study plans, and guidance for achieving success on each exam. Course cost is between $497 - $5,194, highly dependent on the course, course package, and how many courses overall are needed. A monthly subscription service delivers online content through platforms like Vimeo, Sproutvideo, Zoom and Boxcast.
The business employs physician instructors with a Medical Degree at a minimum, high USMLE Exam scores, and residency training at a minimum. All instructors are independent contractors. Each instructor works full time for a specific course. Marketing has focused heavily on Google Ads for paid media and a professional SEO company for organic traffic, including advertising on forums/blogs, word-of-mouth, Trustpilot reviews, email blasts through aWeber communications, and direct contacts to medical schools/universities - which has produced an email database with thousands of emails of registered students.
There is tremendous opportunity to grow by developing the full curriculum into an online format. The majority of the business is a one-time service based on the fact that students only need to take the test once, but there are students that take more than one course as well, leaving a great scale opportunity for the development of Live Online Courses.
Additionally, the Step 2 Clinical Knowledge Course can be expanded immediately from an Online, On Demand Video Course into an In Person and Live Online Course once the curriculum is fully updated and completed. There is a tremendous opportunity for growth by launching these 2 courses. At an absolute minimum, the Step 2 Clinical Knowledge and Step 2 Clinical Skills Online, On Demand Video Courses will each bring an additional $100,000 per year in income.
Listing ID: WC2063
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