Education business is an ever green business it can never fail if you have the right knowledge, experience and adequate guidance. If you aspire to do education business but do not have the experience and knowledge than franchising is the right option for you.
Running a business independently is indeed quite hard, especially for the people who venture into it for the first time. Franchising is the best option for such people. Education franchising has picked up in the recent days in almost all the sectors, whether formal, informal and supplementary kinds of education. Franchising has come to acquire a lion’s share in education, commencing from academic to professional, spread over to a wide gamut of vocational courses, like aviation, hospitality, banking and insurance, estates, retail trade etc.
The growth in education franchising can be attributed to the fact that India has the world’s largest young population which aspires to receive quality education through world class training systems. The another factor contributing to growth of education in India is that not only middle and upper middle classes, but even the poor and marginalized sections of the society spend 20 per cent of their disposable income on education of their wards in private schools and universities.
It is believed that increasing foreign participation in education franchising has raised the level of competition and standards of education in India. However, Major Rajan, ED, Amoha Education (P)Ltd disagreeing to the above statement opines, “Not necessarily, as the present scenario across the globe has brought unscrupulous elements into foray. It does not mean, exchange programs of faculty and students should be done away with.”
According to a survey conducted by Franchise India Holdings Limited in association with – (whom) - “With 17 per cent share in the organised sector, education industry in India offers a huge potential for education entities, looking to spread their concept through franchising. With growing acceptability and proven success of education franchising in India, there has never been a better time for business owners to expand their education brand through franchise route than now.”
Foraying into education franchisee business
It is important that an aspiring education franchisor should at the foremost hold a rich academic background, which only fits the façade of the business. And then it is also important as to which stream of academics or vocations he would like to bring in, and whether they fit his profile. It would also be pertinent to ponder over who his competitors would be around and what measures he would adopt to garner clientele. The investor should also liaise with the existing practitioners in the stream and gather all relevant information in order to prepare his own blueprint of the plan.
According to Major Rajan, a wannabe education franchisee should adopt and cultivate the following qualities to usher successfully in education franchisee business:
* Adopt and inculcate a temperament to serve
* Discern and identify local educational needs
* Bring in dedication and perseverance in your efforts
* Be passionate to enable your customers to become professionally proficient
* Have implicit faith in the service chosen and its products
* Develop a will to be a long term player with commitment
* Adopt and up-date the latest changes in curriculum
* Give importance to those that should not be taught
* Run an extra mile to provide value added services
* Your centre should be a knowledge hub
* Provide a right academic ambience
Ensuring a smooth business
It is easy to take up the franchisee business, but it is difficult to run it successfully. No doubt, the franchisor will provide you full support in running your franchisee business successfully, but your personal capabilities and interests matter a lot. To this, Major Rajan suggests, “The franchisee should have a sincere, sustainable passion to understand the nitty-gritty of the business, should be customer friendly, a guide and a mentor, should provide value added services and should adhere to the stipulated agreement with the franchisor, with no short-cuts.”
So what are you waiting for, try your luck and take the flight.
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