We have an increasing number of people looking to become entrepreneurs in the last decade and the franchising route has been the best available option for people wanting to start their own small or large business.
The advantage of taking a franchise far outweighs the earlier concept of starting out a business through trial and error. The franchise option provides you with a ready model to work on along with all the support required to understand and run a franchise.
Among the most sought after franchisee in this era is the Educational Franchise as this industry has witnessed a growth upward of 15% year on Year starting from the year 2012, when you put it up with respect to the growth in GDP which is around 6% to 7% at its best, this translates into a 100% Incremental over the other industries.
The other factor which works in the favour of an educational franchise is that this is an all weather Industry, what I mean to say is that even in the worst of turnarounds this industry does not experience a recession and hence is recession proof at least when we talk about the sub continent which is India. The parent community in India associate a lot of importance to education and the growth of their children, the only avenue being education for them. They realise that if their children are to realise their dreams of becoming successful in life they will need to equip them with the right resources and knowledge and not just school knowledge but also the after school education which will tune them into becoming a rounded personality to face the competition and life thereafter.
Education Franchise in India has a lot of options starting from Pre – Primary education to full blown schools till post graduation courses. We can primary divide them into Regular School programs and After Schools Program.
Regular School Programs will be the Pre Primary chains that flourish along with School & College setup franchise networks which could start from anywhere between 20 Lacs as Start up cost to full blown school setups charging upwards of 2 Corers and above. Regular School programs have requirements of space which are very specific in nature like Ground Floor Space minimum 2000 sq. Ft Carpet with minimum number of classrooms and teachers etc.
On the other end of the spectrum are the After School programs like the ones run by BRAINY which have a low start up cost with Maximum Investment not exceeding Rs. 15 Lacs with flexibility in space starting from 800 Sq. Ft to Max 1200 Sq. Ft Carpet. They also provide you with the option of working part time and staff requirements are also very low, while the programs offer a bouquet of benefits which will stand the test of time in your child’s future.
Educational Franchise offers the would be entrepreneur a soft launching pad which will propel him into the world of business and the best thing is that they can choose the budget from where they want to start.
How do I take up a Franchisee?
It is very simple you need to visit the website of the educational franchise that you want to take up and fill in the Franchise Inquiry form. Give all the details that the company asks for so that they can serve you better.
You will either receive an email from their side having all the details with name and numbers of people whom you can talk to and guide you through or better you would straight on receive a call from the company and will walk you through the whole process.
They will tell you the scope, target audiences and the Investment required along with the type of returns that you can expect.
Note: While there are a number of players in the market you would be well advised to note the following points while signing up the Franchise
How long has the company been in franchising
How many franchisees are there and for how many years? If the franchise has many franchisees and have renewed their contracts over a period of time then you know this model is working.
What is the support system and how does it work.
Check hidden charges if any.
Look for transparency and systems. Like ERP software to manage the center batch timings / Invoices / Receipts / Logistics etc.
The more questions you ask the better. Hope you have enjoyed reading this blog as much as I have enjoyed writing this.
The writer is the Business head of BRAINY in India and possesses 25 plus years of experience in Franchising. In case you would have any queries related to which franchise to take up you can connect up with him via www.brainy.co.in