What has motivated and inspired Naresh P Reganti, Founder and CEO, Edurays, to remain in the education industry for nearly two decades and excel each day with the same passion and commitment. Read on as Ekta Verma finds more about his onward journey in the industry.
Tell us about how you scripted your success story.
With my vast experience and expertise in the field of IT training, distance education and schooling, I established Edurays India to provide best of the facilities in the field of education, affordable to all.
I started my career in the field of IT education and development by working for MNC companies in business development and franchising, which in the process encouraged me to start my own centres as franchise for reputed IT training institutions for nearly two decades. With all these skills we started our own brand, Edurays India, focusing mainly on quality education, best of the facilities, a well-planned curriculum, certified trainers and providing a choice of training in five domains for a student under one roof. The growth and success of Edurays India in our own centres in three prime locations in Bangalore within a span of less than two years encouraged us to offer franchising in the above domains. We have been in the field of schooling for more than a decade, as Uma Naresh Reganti, one of the partners in Edurays India, was the founder of Penguin Educational Trust under which we had Glitzy Public School in South Bangalore. She was a very successful educationist and was a familiar name in the field of education for her innovative and unique methods of teaching. She had started a small preschool in 1996 in a small car shed that has today expanded to a CBSE and state syllabus school from nursery to X standard. With this expertise we started Educhamps franchising.
Tell us about the services and products that you offer. What is Edurays’ USP?
Under Edurays India 5 domains franchise we offer training in hardware and networking, software, spoken English, distance education and NTT-nursery teachers training. Under Educhamps we offer preschool franchising for play school, nursery, LKG, UKG and day care. Our USP for both the domains is “low investment high returns”. Besides, Edurays India is ISO 9001:2008 certified company for quality management system standard. Our quality management system is in compliance with ISO 9001:2008 standards.
Discuss the market potential of the education industry.
I believe education ventures always remain the business of the nobles and investment by the wise. Education is always in demand in this competitive skill based world. India is the fastest growing and most opted country in Asia today for IT and all other educational services. Domestically in our country, to meet the existing and emerging demand, in the last decade, we have experienced rapid advances in IT which has created new changes in the way we live, work and play. The growth of the Internet, e-commerce and telecommunications has created tremendous opportunities and challenges for both the societies and economy. IT is also having a profound effect on education. In addition, the demand for quality preschool education is growing quickly and has opened new opportunities for investors. If you love kids and want to spend quality time in the company of sweet toddlers, this is one franchising option that can help prospective entrepreneurs to enjoy success in business in very less time.
What was the reason behind opting for the franchise route? What kind of training and support do you offer to the franchisees?
We opted for franchising with an intention of providing educational services for all at affordable cost, and at the same time with low investment the franchisee gets high income. It’s a win-win situation for both the student and the franchisee. Edurays provides the franchisees training, assistance in site selection, site development and ordering inventory, advertising and marketing support. Edurays trains the new franchisees extensively up front about the business and the product and provides ongoing training and support. We also provide management assistance, including assistance in accounting procedures, personnel and facility management.
What strategies have you planned to beat the fierce competition in your domain?
Edurays provides a uniform system of operation so that the student receives uniform quality, efficiently and cost-effectively. A uniform system brings with it the advantages of mass purchasing and brand identification with customer loyalty. The franchisee gets good returns with minimum costs, less overheads and simultaneously the student gets best of all the facilities under one roof at a very nominal fee.
Tell us about your franchise Model.
We started our franchise model in October 2012 for Edurays 5 domains with a franchise fee of Rs 1 lakh with a good sharing and less royalty. Within a span of six months we were able to offer franchise for more than 22 centres throughout South India. The success encouraged us to start Educhamps.
What are the investment and area requirements to be Edurays and Educhamps franchisee? Also, tell us about break-even and RoI.
For Edurays investment will be from Rs 5lakh to Rs10 lakh with an area of 500-1000 sq ft. The break-even is achieved in one year with 100 per cent RoI. For Educhamps preschool a franchise investment of Rs 3.5- 5 lakh with an area of 500-800 sq ft is required. The break-even period is one year with RoI of 120 per cent.
How many centres are you planning to open by the year-end? Share your international expansion plans also, if any.
We are planning to open a minimum of 50 centres each for Edurays and Educhamps domains by the year-end and already under Edurays 5 domains we have 22 centres and under Educhamps five centres. As far as international plans are concerned, we are concentrating on the Middle East and South Asian countries.