You could probably do a Microlight Assistant Flying Instructor course for that amount. As has been said, double it and you will be nearer the mark for a EASA Flight Instructor rating in the UK.
You'd be better off financially to do a microlight course too. A friend of mine worked as IRI/CRI at a major continental FTO until made redundant a few years ago. He used his redundancy cash to buy a microlight, took a one day course to convert his FI(A) to FI(M) - and is now making more per month than he ever made working at the FTO!