General Description:  Parents pay a hefty premium to live in towns with the best school systems, so it should come as no surprise that the demand for private tutors is on the rise -- even for children as young as four years old.  As a result, experienced tutors in affluent communities can command over $100/hour.  

Thanks to the intense competition for college, preparing students for the college entrance exams is an especially lucrative branch of tutoring -- SAT tutors can earn over $150/hour in major metropolitan areas.

There are no required examinations or licenses in order to become a tutor.  However, a degree in education or a bachelor's degree in a specialized subject are considered desirable.

Options for Flexibility:  Since you generally meet with students for only one or two hours at a time, you can have free time in-between appointments.  However, keep in mind that most students want to meet during after-school hours, weekends and evenings. 

If you'd prefer to work for someone else, conisder commercial tutoring services, such as Kumon or Kaplan that hire freelance tutors as teachers. 

Resources for Further Exploration: 

Associations:

Education Industry Organization

National Tutoring Association 

Books: