With the increasing competition for getting better employment, the preference for improved education has risen up. In an interview with T K Bansal, MD, Bansal Tutorials shares the origin, growth, and success of his company.
Ramanjit Kaur (RK): Could you please shed some light on the origin, growth and success of Bansal Tutorials?
TKBansal (TKB): Established in 1991, Bansal Tutorials made a humble beginning with only one centre in Kalu Sarai, Delhi. Earlier, it was run privately as a family managed business. Presently, the coaching institute is managed by a cohesive team of highly qualified and experienced academicians of international repute. Our raging passion for education had lead us to start Bansal Tutorials with an ambition of educating youth through novel teaching mediums. With our sheer determination and hard work today, Bansal Tutorials is a brand to reckon with, in the IIT-coaching space.
RK: What inspired Bansal Tutorials to take the franchise route to expand the brand? What difference has the company noticed after adopting the franchise way?
TKB: We had been contemplating opening more centres for a number of years and had been receiving enquiries from all parts of the country, especially from northern India. However, we wanted to ensure that we acquire the right level of competency before venturing into franchising. This is why we appointed Francorp to design our franchise programme.
Now, we have a set mechanism to follow in franchisee recruitment as well as setting up and training in franchise centers. Through franchising, we feel assured of replicating the same system and success in our other centers also.
RK: What practices and initiatives have you introduced in Bansal Tutorials?
TKB: At Bansal Tutorials, we firmly believe that theories only provide a conceptual framework for knowledge and that true learning happens only by application of theoritical concepts. Dry approaches to learning were then replaced by a teaching environment at Bansal Tutorial’s that allot specific tasks to students so that they form and use concepts. This is why, we have set our mission ‘To inculcate scientific and innovative thinking approach amongst students and instill professional values of honesty, integrity and unwavering commitment to excellence.’
Our objective is to inject the innovative teaching techniques for effective learning and expanding the knowledge space of the students. We aim that our coaching leads to efficient teaching for students to absorb and learn fundamentally. This further results in influencing the student to think broadly and to know extensively.
RK: What kind of background is necessary to secure the franchise of your company?
TKB: We usually look for retired defence officers, senior executives of PSUs or academicians as our franchisees. Besides, we require the franchisees to have the following competencies to secure our franchise:
RK: How many outlets do you presently have? What are your future target locations to expand?
TKB: We have been running our centers at Kalu Sarai in Delhi for the past 19 years and have recently started another centre at Mayur Vihar Delhi. Now, we have recently signed a franchisee in Bhubaneshwar and many more are in fray. Our defined roll-out is Delhi-NCR, Agra, Ahmedabad, Bhopal, Chandigarh, Dehradun, Indore, Jaipur, Kanpur, Lucknow, Ludhiana, Noida, Patna, Siliguri, Varanasi, etc. Although, our focus is on educational hubs, we are open to other locations as well which reflect great future potential.
RK: What kind of training and support a franchisee will get after partnering with your company?
TKB: We offer our franchisees with all the necessary support and training before and after the launch of the franchise. In the pre-opening support, we provide our franchisees with assistance in site selection, negotiating the terms, organising the lease and all the necessary approvals, architectural support, layout and design, assistance in recruiting and selecting the faculty, special staff training in educational skills, and in local and national advertising.
While after the launch of the franchise, we help our franchisees in fine–tuning business development strategy and periodic review to ensure achievement of business plan objectives. We keep a regular check on the performance of the franchisees and organise regular workshops for faculty to up date their knowledge and training capabilities. We also provide professional advice whenever required for all organisational issues and in resolving the issues of the students.
RK: Any advice for the young entrepreneurs?
TKB: As I have mentioned earlier, we are born educationists and wish to stick to our competence. At this ripping age, I am still in the learning phase as far as ‘entrepreneurship’ is concerned. However, Bansal Tutorials is well empowered by personnel who have tremendous business acumen to take the institution to great heights.
RK: What are the future plans of the company in terms of expansion through franchising?
TKB: Our vision is to create a substantial network of franchisees to become our reference points for future. We wish to boast a pool of 25 happy franchisees by 2012. Our focus is on getting quality franchisees who share the same level of commitment towards education for our students as we do.