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Education 2013-07-29

Honing skills to achieve success

Honing skills to achieve success

Delhi Paramedical and Management Institute is providing a unique combination of technical excellence, opportunities, choices and skills to its students. Read on to know, what has motivated and inspired its Chairman, Vinod Bachheti, to remain in the education industry for so long and make sure that DPMI students develop a global outlook to become victorious in the international arena.

Share with us the inception, success and journey of DPMI. How has your entrepreneurial journey been so far?

My entrepreneurial journey began in 1996 with the launch of our first DPMI college. After the success of the first branch, we opened a second branch. The franchise model worked well for us because the 10+2 paramedical segment is a capital-intensive model. My entrepreneurial journey incepts with a wise and fruitful decision to become a franchisor of an established organisation. I have always been fascinated and inspired by people who embrace the spirit of entrepreneurism in themselves. The brand has already spread its wings with more than 22 branches and plans to expand internationally too.

When and what motivated you to adopt the franchise route for DPMI?

In 2012, the word franchising had entered our dictionary and we found it to be a good fit with our model. Through this model we could expand and reach a wider audience with our limited resources. We had local partners who were convinced with our model and felt the model would work in their community. They would find the right location and invest as per our guidance. This model allowed us to focus on the educational part of running the college, while our partners looked after the local issues. The demand from students and limited resources at hand led us to extend franchise of DPMI brand in the hands of some committed entrepreneurs and educationists. The franchise route helped us in expanding faster in areas where reach and local experience were the challenges.

What is the success mantra of DPMI?

DPMI’s vision to become a preeminent educational group that works towards the overall advancement of the society by enabling the brightest minds of the country to achieve what they desire to and what they deserve to be, is the success mantra of DPMI. The USP of the brand is 24X7 helpline, consistent support system, oriented network nationwide, research and development expertise and well-built infrastructure.

Where do you see the brand in five years time?

We plan to expand to a count of 100 centres in the next five years. The DPMI brand is very dynamic in nature. The brand-promise is reflected in all the verticals and we see a lot of potential in multi-geography, multi-brand approach of expansion.

What, according to you, is the scope for aspiring franchisees in this business? Is the future bright in the years to come?

According to a McKinsey-NASSCOM study- The paramedical profession is projected to grow to $ 225 Billion by 2020, employing 10 million people directly and 20 million indirectly. With India poised to benefit the most from this scenario due to the demographic dividend of young, surplus manpower, the need for trained professionals is paramount. Moreover, the employability of college graduates is low, with major gaps in soft skills and technical skills. An investment in paramedical training, therefore, pays rich dividends, as the training industry is balanced for a boom, thus being the right opportunity for entrepreneurs to invest in innovative business models. Setting a DPMI franchise requires fair amount of investment in infrastructure, marketing and initial year cash flows.

What are the qualities that you seek in a prospective franchisee?

The essential prerequisites to become DPMI franchisee will be fire to excel, right skills and attitude, experience and knowledge in the education industry, preferably, a franchisee with experience in the education sector. All potential franchisees are carefully screened to ensure they match the DPMI spirit.

Franchise Facts:

Area

Investment

Breakeven

Current centres

2000-2500 sq.ft

Rs 10 -20 Lakh

1 year

   22

 

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