Yes, but it depends on whether you hustle and how good you are. Successful private tutoring generally requires building a network and customer base. Tutoring sessions need to be impactful and you have to demonstrate progress to retain students.
The work isn't easy, but if you enjoy it and help your students succeed, you could land long-term, well-paying clients. Or, you could choose to work with tutoring sites and work with a steady stream of students.
The bottom line here is that starting your own home tutoring business is likely to generate far greater revenue than tutoring for an online platform. However, it's also most likely going to require a lot more work and a larger time commitment.