Franchising has come a long way in India and it invariably picked up due to the educational franchises that came up in the 1990 – 2010 period. Since then Franchisees in all spheres and Industries have sprung up and it is a buzzword in the current scenario.
From a humble Tea store to consumer goods to services all have realized the importance of franchising and the potential that it offers to expand the customer base.
Educational Franchise is one of the oldest and the most reliable of franchise options due to the following factors:
1. Recession Proof: One of the last things that parents want to cut back on in Education. They believe and trust that education alone can open up the doors to success for their children and hence they will always try to keep their education on.
2. Trusted Brand: Most of the educational franchisees have success stories and satisfied customers who will vouch on the benefits of the program and hence success is always within reach.
3. Guaranteed Growth: Educational Franchisees if they keep track on the quality and also evolve as per the timelines growth is guaranteed.
4. Higher Profitability & Earnings: Educational Franchisees are also considered to be Service Franchises since most of the educational franchisees only have the Initial investment in Infrastructure after that it is just about maintaining the quality and delivery promise. The Running or Recurring expenses are pretty low and hence they tend to make higher profits.
5. Low or Nil Working Capital Required: Most educational franchisees start with the enrolment of students which sees a flux of money coming in and hence the franchise will not have to worry about the working capital from day one.
6. Proven Systems: Most of the Franchisors have a proven system for how student enrolments would happen and also have a lot of references available and hence it becomes easier for them to operate.
7. Quick Cash: All Educational Franchisees charge upfront payment hence there is no concept of delayed payments. Some of the services also provide monthly payment plans hence the franchise is always having money on hand.
While educational franchisees are an excellent Investment to make there are certain points that need to be kept in mind before investing:
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Brand Name: Always ensure that the brand that you are selecting has a certain number of years of experience in running the brand.
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Systems: Well defined systems and operating procedures as well as evaluation methods.
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Fee Structures: A well-defined fee structure which is in line with the type of education being imparted.
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Relevance: Relevance of course to current times.
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Quality of Education: The vision and theme of the company should be on making a difference to society and enriching the future of the child.
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The uniqueness of Offering: The more unique the offering the better the chance of success as this would eliminate almost all competition and give you a head start.
The Writer is the Business Head- Franchising of BRAINY – A division of Brain Child learning and has been in the field of Educational Franchise since the last 25 Years. Brainy is a franchisor which deals with the whole brain training of children and providing life skills to children in the Age Group of 7 to 16 years of Children across the globe. For more details on the brand, you can visit brainy.co.in