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Education 2014-03-24

Fostering rewards of education

Foster Kids is a pre-school chain born with the desire to nurture children and lay a healthy foundation for a learned society. Its unmatched curriculum and talking book device make it extraordinary. In an interaction, Umesh C. Chaudhary, CEO, Foster Kids spoke about fostering his future endeavours.

What is the story behind Foster Kids? How it started and what was the inspiration?

Foster Kids is a premium brand of IHT Network Limited, which is a public limited company incepted in Sept 2003 for catering the need of IT professionals in the country. Till today IHT has trained/placed more than 40,000 aspirants for different IT programs. IHT is into the training of computer hardware, networking and vendor certifications programs. The company holds presence in more than 50 cities through its 100+ establishments.

In year 2012, during AGM board meeting of directors, company management decided to enter into early childhood education domain. Through proper marketing research, we found that there is huge business potential in play school and K-12 segment. This field is mushroomed by unorganised local standalone players and among those very few are delivering quality schooling. Very shortly the company is starting a K-12 school chain in name and style of Foster Next Gen School.

What are the services that Foster Kids deals in?

We offer complete pre school education , day care services, after school intelligence development programs and K-12 schooling.

What are the future expansion strategies?

We are working on a franchise business model, which is a proven, tested and internationally the fastest growing business model. We offer opportunities in unit and master franchise. Except Delhi and NCR, company is/will have master franchisee, who will be local one point of control/contact. Every master/unit franchisee will be backed/supported by the company employed business manager. This will further be backed by the company support department.  So, overall there will be three, always available point of contacts.

What are the essential requirements to become a franchise partner of Foster Kids?

For becoming the franchisee of Foster Kids, a person/firm/organisation should have a clear cut understanding of our vision and quality conciseness. For selecting the partner we have a tailor made selection process.

 What kind of support and training do you offer your franchisees?

I believe that training is ever going process for maintaining sustainable growth in any business. In our company, employee is not treated as just a human resource. We believe that every sincere employee is an asset for us. So, his/her four dimensional development is a mandatory requirement. In this regard, we follow best industry practices.

How do you analyse this sector?

According to me, it is the most sustainable, respectable, socially reputed, recession free, ever growing and a very profitable sector. However, I believe this sector is dominated by local, unorganised players. In most of the cases they are not delivering quality up to the bench mark. Local long term presence is also a challenge for every new or upcoming school. 

Future plans for the next five years?

We will be having 250+ schools for Foster Kids and 50+ K-12 Foster Next Gen Schools in India and abroad.

Franchise facts:

Area

Investment

RoI

Breakeven

Current centers

1500-3000 sq ft

Rs 5-10 Lakh

100 %

18 months

100

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