In many countries, teachers are treated with revered respect as the importance of what they do for the next generation is recognized. That’s why the Modern Education School just offered Lam Yat-yan a whopping $11 million to quit his tutoring job with the Beacon Group to join their school in Hong Kong.

In a country where competition for spaces in top universities is fierce, ‘super tutors’ like Lam are as famous and as sought-after as celebrities.

Coby Lam, a former student, explains, “I have friends who worship him like a god," while another student said: "I saw people crying even in some of his video classes, all because of the motivational things he said."

The reason that Lam is able to command those kinds of salaries is that tutoring is a booming business throughout the world. A report by the Financial Times showed that the school where Lam is currently employed, Beacon, claimed that he was responsible for 40% of the company's revenue (more than HK$150 million  $19.3 million).

With tutoring gaining traction as an essential part of the education system, profitable education franchise owners are enjoying higher revenues and are able to offer tutors better salaries.

Tutoring business owners also have a wider pool of tutors to draw from and are therefore able to offer their clients better service. While the Hong Kong tutoring business is ahead of those in Europe and North America, education franchise owners in these parts of the world can look forward to this kind of increase in profitability.