India’s leading preschool chain Eurokids plans to triple its footprint in the next five years. Read on...
Eurokids International has crossed the milestone of 1,000+ preschools and 30 K-12 schools while contributing towards the growth and development of 5 lakh children. The brand, which started its journey in 2001 with two preschools in Mumbai, has expanded presence in three countries and over 350 towns and cities. While the preschool chain plans to triple the number over the next five years, Prajod Rajan, Co-Founder and CEO, Eurokids International, talks about the brand’s expansion plan and partnership with KKR. Excerpts from the interview:
What is your objective for recent partnership with KKR?
Our decision to proceed with investment from KKR is about helping us grow and advance in our mission of delivering the joy of learning and reinventing education in the country. We saw the benefits of KKR’s global platform, resources and expertise and believed they could help us build on our strong position and take our operations to the next level.
What are the changes you are observing in preschool enrolments in India?
The enrolment numbers over the last five years have shown a steady growth. This increase is largely due to the changing mindset of parents who have come to understand the importance preschool education has in their child’s life. Parents are more aware in their decision-making process and will choose a preschool that is close, safe, and has a good curriculum.
How does your franchise model differentiate from the competition?
Our franchise model is based on a specially crafted franchise support program, EDGE 360°. Under this model, we provide franchisees with support at various levels, from the setting up of the centre with infrastructure and ambience design assistance to providing equipment and teaching aids to run the preschools seamlessly. We also offer a specialised curriculum kit called Happiness Box, which provides educators with the tools needed to impart the learning of our curriculum.
Teacher training and assessment support is provided to make sure that the educators at franchise centres are well-equipped to educate the children. One of the key aspects of our approach is consistent innovations and upgrading the curriculum so that it is customised for age-appropriate learning and is in sync with global trends. The latest edition of this upgrade is the ‘mindful’ curriculum EUNOIA, which is based on the concept of integrating mind, body and soul. In fact, our curriculum model has evolved over seven times in the last 17 years.
How do you measure growth of your franchise ecosystem?
Our primary KPI for franchise ecosystem is the occupancy rate at which the centre is operating which is defined by the number of enrolments per centre in a given year. Another important factor is the market penetration we achieve with each new centre that opens. Currently, we have a good number of preschools in the top 20 cities including Bengaluru, Pune, Hyderabad, Chennai, Kolkata, Lucknow, Ahmedabad and Mumbai. A third key factor is the franchise sustenance success ratio which we aim to maintain and it starts right from the location selection process before signing up a franchise. Several of our partners have scaled their success to new heights with not just one but multiple centres which are flourishing.
Franchising since: 2001
Total outlets: 1000+
Investment:Rs 15-20 lakhs
Area: 2000 sq. feet
Break-even: 6-12 months