The Online Student Library: A Profitable Business Idea for Providing Study Materials and Professional Support

The Online Student Library
Summary
In today’s world, the education system is being transformed. Earlier, heavy bags with lots of
books is carrying by the students which is a burden to them consider as the main problem
among the student to get extra knowledge. And also few books are hard to find in the market
and few are expensive. They cannot able to get all the resources.
but now the internet based education system has been changing this scenario. The education
is not limited to paperback books.
A student can learn a lot of things from the internet. Many organizations are already working
in this field and they got financially benefited from the service they provide; they charged for
online reading material i.e. books and online courses such as edx by MIT, USA, Couresa,
MOOK etc. By considering this fact an online student library also act as the profitable
business because it provides the resources like books, educational magazines, podcasts of the
specific topics, lecture videos and notes. The students can only get access to the books and
other materials if they pay the membership fee to the library and there may be the case when
student will have to pay for the books. The personal assistance will be providing to the
student who are frequently using the internet.
The idea behind this start-up is to provide facility and service to the students of schools and
colleges. The online student library will also give service to the student by providing a
learning community through which the student will get more help to understand the subject.
The main aim of the library is to provide and get economic benefit from the online resources,
study materials, professional support and supervision to all the student who have keen interest
toward studies (Hew, 2016). The membership will have limited to students only, the proposed
plan for start-up also gives the facility of issuing books and home delivery services to the
student with the precise documentation of the issuers. The student will free to ask the queries,
and librarian will help the student. The information on subject related activities could also be
organized to keep the interest of the student to make them as member of the library for a long
time. The student library can be fused with the libraries around the world through the internet
(Reed, 2016).
The total capital to the start is approximately $1 million will pay by the owner along with
$20,000 which has been raised from the friends and family and also include the
crowdfunding which is about approximately $30,000 (Shiell, 2018). For the seeding stage,
the grant is about $50,000. For incubation and acceleration purpose Startmate is helping the