If you are an entrepreneur or content creator searching for a way to transform knowledge into income, Teachable is the platform for you.
Teachable is a learning management system (LMS) founded by Angkur Nagpal as a side project. It was previously called Fedora. Nagpal, a course builder himself, decided to create his own online learning platform with features that he envisioned his courses and students would enjoy after getting frustrated over the lack of direct accessibility to students some platforms needed.
In 2020, sources state that Hotsmart obtained Teachable for about $250M.
Before you go on, you may want to check out this video by Robert C. Brown on YouTube that gives a quick overview. After, you will want to read the rest of our article for a more comprehensive review of Teachable.
In A Nutshell How Much Money Does Teachable Take
Teachable allows one to make and sell online classes and coaching with videos, quizzes, and lectures. It has a simple and intuitive interface which makes it an outstanding platform for beginners. It takes care of your sales tracking, payment collections, and affiliates commissions. Thus, you don’t have to have a virtual assistant or group member to do it. Instead, you can concentrate more on course building.
Who Uses Teachable?
We can not deny that online learning is a fast and booming industry. And we would like to take a slice out of the ever-growing demand.
It’s ideal for entrepreneurs, founders, and small business owners who want to make online courses into a potentially profitable business. Teachable is used by folks like Pat Flynn of Smart Passive Income to market their courses to students.
You also have enterprises such as The New York Times, Shopify, and Penn Law.
More than 100,000 founders sold over $1 billion in courses and coaching for students all over the world as of this moment.
Here are some of the features I enjoyed in Teachable:
Ease of Use
Teachable’s best feature is being less of a technician headache and more of being your partner-in-arms to a business.
As mentioned earlier, Teachable prides itself on its simplicity of use. Going around and operating the course will be found easy by tech beginners.
When you register on the site, it leads you to the dashboard. There you will see headers like users, sites, sales, emails, and courses. It is pretty straightforward. Uploading files, reviewing analytics, issuing refunds, and communicating with students becomes a lot easier for the user.
Teachable’s list of partners is pretty extensive making it possible to incorporate as many tools as you need. You’ll also realize that it is easy to create multimedia lectures, videos, homepage, and landing pages with their power editor.
Teachable offers a large choice of themes for your online course website that you can select to create an attractive landing page. All you’ve got to do is upload the logos, text, images and choose color schemes to fit your business’ branding.
You have the option of inserting custom CSS or HTML to the Code Snippets region if you are an advanced user.
Marketing, Student Tracking Tools, and Analytics Capabilities
It has all of the necessary and essential sales tracking and analytics tools that you would need while trying to analyze your course sales. You can see how well your courses have performed in specific periods.
For greater plans, you get access to advanced sales features like one-click upsells and bundles. With this, you can provide your pupils discounts should they decide to obtain another course. It is a good means of increasing conversions.
You can check student enrollment and engagement when it comes to student tracking. You’ll get reports on how your students interact with your classes, their completion rates, and in which the students get stuck.
Teachable deals with tech and promotion for you so you do not need to worry about monitoring sales and student insights with their comprehensive dashboards.
To get this feature, you would need a Pro or Business Plan. The course will award the certificates upon completion (Admin > Courses > Course > Certificates). There are templates available. Teachable will automatically insert your school name, student’s name, and title of the program. You may change elements of your certificate such as logo, colour scheme, and preset pictures. But, you may also create one yourself using the block editor (rich text and Liquid/HTML blocks).
Teachable comes with its own refundable payment processing via Teachable Payments. With this, you don’t need to get a 3rd party for payment processing.
You can choose your payment currency from a wide range of choices. You may even generate coupons and discount codes for students and affiliate codes. Teachable will manage affiliate payouts automatically.
Teachable has options like Stripe and PayPal and advanced payment options like Visa and Mastercard.
Your students can pay by credit card, debit card, PayPal, Apple Pay, and Google Pay. You also have the choice of charging your courses as one-time purchases, monthly payments, or as a subscription.
The service is responsive. It has an extensive knowledge library with online lessons and lives webinars for common questions you might ask as you start creating your first course. You can create a ticket if you have any additional questions. Usually, you’ll hear back from support within 24 hours. Professional Teachable clients have access to live chat service.
What Plans can I avail?
Teachable enables customers to choose among three options: Basic, Pro, and company.
While Teachable doesn’t have a free version, it does offer a 14-day free trial for people who wish to dip their toes first and take a look at its features before committing.
All plans include unlimited video, courses, and hosting. Additionally, it has integrated payment processing, pupil management, lecture comments, fundamental quizzes, no fees on free classes, and VAT (value-added tax) for the EU.
Basic ($39/month or $29/month if annual billing is selected )
Each of the base features include unlimited students, course merchandise, training product, a members-only community, automatic sign-ups, and two admin-level users. You’ll have to pay the monthly fee together with a 5 percent transaction fee on this plan.
Pro ($119/month or $99/month if yearly billing is chosen)
This includes all base features plus priority product support, advanced reports, five admin-level users, an unbranded site, and completion course certificates, among others–no transaction fees.
Business ($299/month or $249/month if yearly billing is chosen)
Including everything in Pro and 20-admin level users, bulk student enrollments, manual student imports, custom user functions, advanced theme customization, and group coaching calls. How Much Money Does Teachable Take
Now that I have talked about what I liked about Teachable, here are a few things I do not like:
- No free plans.
- Teachable does not have a free plan. But, it does offer a 14-day trial.
- 5 percent transaction fees
- There is a 5% transaction fee for people who opt for the Basic plan.
- No phone support.
- There’s no telephone number to contact for queries.
Why should you attempt it?
I’m not the most tech-savvy person out there. Far from it, actually. I have had many a day being the most confused about the bunch. But with Teachable, I found it reasonably easy. Akin to a duck testing the waters first, It does take a while to explore the web site, its features, and test stuff out.
You can teach how you would like to know by using customization tools to personalize your content. How Much Money Does Teachable Take
You don’t have to think about marketing. All you have to worry about is creating the content that you want to sell since Teachable has built-in features to look after taxes, payouts, affiliates, and writers.
To Sum It Up
For complete beginners and busy entrepreneurs who wish to concentrate more on course production than the business’s technology and marketing aspect, Teachable is an approachable platform.
Teachable helps you turn the online courses you can create on any topic you love into a business. Why not start now?
Frequently Asked Questions: How Much Money Does Teachable Take
What is Teachable?
Teachable is an online learning platform which helps users create and market their courses.
Can I use Teachable for free?
There is a 14-day free trial for the Pro Plan. You will automatically be entered into a Professional plan trial when you click on the “Get Started” button and register. You do not need a credit card for this. There is no free trial for Basic and Business Plans. You can add up to ten students to complete courses.
How do Teachable payments work?
Teachable uses Stripe express to process credit/debit card transactions in addition to PayPal payments. Owners may receive payouts directly to their banks based on the payment scheme set from the primary school owner. It can be carried out from the Preferences > Payments section of the school admin. Payouts can be set daily (on a 2-day company rolling period), weekly (every Thursday), or monthly (every 30 days on the first business day of the month).
How much does Teachable cost?
The Basic plan costs $39/month or $29/month if yearly billing is chosen. However, Teachable’s more popular Pro Plan at $119/month or $99/month if annual billing is set is more opted by many individuals. It has more features that fit most of what their business needs.
The Business Plan also costs $299/month or $249/month if yearly billing is chosen. This is a much better fit for large organizations where multiple instructors are required to upload course materials.
Does Teachable charge any processing fees?
Yes. It charges 2.9% plus 30 cents for any sale made via a credit card, debit card, and US Paypal accounts. International cards are charged 3.9% and 30c. International PayPal gets billed 4.4% plus 30 cents.