Similar to a coin, the operation of any successful k-12 brand has two sides, one that highlights the brand’s success while the other denoting the challenges and rough phase of the brand.
Starting an education-related business, especially a k-12 school, is a daunting and complex task that requires a lot of effort and dedication. Similar to a coin, the operation of any successful k-12 brand has two sides—one that highlights the brand’s success while the other denoting the challenges and rough phase of the brand.
Educators often see the brighter side of the K-12 business and decide to step into the industry, eventually failing drastically after a few months or years of its establishment. Thus, it is suggested to focus on the challenging aspect of the K-12 business first so that it can better prepare you about things to come. According to research, the current K-12 school system in India is one of the largest in the world with more than 1.4 million schools, having more than 250 million students enrolled.
K-12: A Pool of Opportunity for Educators
The culture of private schooling in India is at its peak, which is allowing new entrepreneurs to invade the industry with new and lucrative business ideas. Every year, thousands of students are getting enrolled at private schools that eventually open the gate of opportunities for budding educators/investors.
Tapping this growth, many entrepreneurs have already started their services in K-12 education, a segment we all know is getting bigger and bigger with time. So, if you believe that the K-12 sector could be your playground as an edupreneur, prepare a checklist of processes and documentation. Moreover, it is suggested to step into the K-12 sector only if you have an existing primary school as it makes the step for getting approval for affiliation and sanction easier.
Location for the K-12 Business
Once the city has been decided, edupreneurs need to finalise a location for their K-12 school. This can be done by conducting thorough research on the market and the audience. But it’s better to skip locations that already have good and existing schools in the region.
The Decision for Affiliation
This is perhaps one of the most important steps while establishing a K-12 school. Edupreneurs need to apply for the affiliation that can bring enrolment in the form of students at a later time as well. Go through the available websites that deal with the basic requirements for getting the affiliation approved.
Documentation is very crucial in order to attain affiliation for your education firm. You need to work precisely on the legal documents, statutory proposals, and NOCs, which might need you to contact the local municipal authorities and the education department.
Basic Infrastructure & Marketing
Basic infrastructure, faculties, and interiors are some of the requirements in order to get affiliation successfully. Remember that every board its own set of regulations that might vary on aspects like land, staff, and facilities.
Meanwhile, marketing is also an important aspect of setting up a successful K-12 business. Design an attractive and informative website for the school, and later advertise through social media, hoardings, and other available options.
Starting a K-12 Business under a Big Banner
Franchising is the most suitable option if you are willing to start a K-12 business under a big and existing banner. For example, Delhi Public School provides its franchise to only those investors who are well educated in the first place. Additionally, you need to have an area around 2500 sq. ft. for a preschool followed by a minimum of 2 acres of land for a high school.
So, franchising could be the best option if you are ready to start your K-12 education business under some renowned and existing banners. You need to sign Memorandum of Undertaking (MoU) along with paying license fees depending upon your associated brand.
Basic Requirement for Starting a K-12 Education Business
Minimum Investment: INR 50 lakhs-2crores
Franchise Type: Unit & Multiunit
Anticipated percentage ROI: 15-25%