Pros
The one-on-one teaching model works for a lot of students who have struggled in classroom environments. It's intense for the teachers--you're always "on"--but the curricula are straightforward and the students receptive, for the most part. Not a ton of involvement in day-to-day activities from the administration, which is mostly a pro. Starting pay CAN be good (see below), and work life balance is great--there's very little to take home, if you don't want there to be.
Cons
I negotiated a great starting rate, but I know others have not, so there are some disparities across the faculty. Benefits are so-so, and eligibility starts at 25 hrs/week. KP and BC for medical, no retirement plan. There's very little downtime, and barely enough paid prep time for the amount of work to be done. A little more would make a big difference.