The three-tier structure of the examination has created a niche for edupreneurs to come up with coaching centres that target either the entire process or just parts of the exam. Read on...
Indian parents have always been captivated by the alluring government jobs. And it is believed that many of them have tried to coerce their children to become an IAS at a certain point of time in their lives. IAS – one of India’s most prestigious civil service examinations – is among the toughest examinations which require unmatchable hard work and perseverance to crack. Even though, the time has changed and most students are not been pressurised by their parents to take this exam, the glamour of this magnificent exam has never failed to attract ambitious batch of students towards it.
As per reports, it is estimated that around 8 lakh students appeared in the UPSC preliminary exam conducted in the year 2019. And that’s a whopping number of students! There are so many coaching institutes in today’s time that have taken responsibility to prepare students for IAS; and going by the number of students appearing for the exam, an IAS coaching institute appears to be a huge opportunity for edupreneurs in India. IAS coaching franchises are popping up in almost every nook and corner of India to help the huge population of aspirants achieve their lofty goals.
Growth Catalysts of IAS Coaching Franchises
As mentioned above, there are lakhs of students who appear for UPSC exam every year. The number of posts offered by the government for the IAS is generally 1000. So, it is evident that there is a huge competition among students, that’s why students need strategies to clear this exam along with the hard work and resilience. Thereby, it creates the urge to have more and more coaching institutes catering to the IAS aspirants.
Not only the huge number of applications is making the coaching institutes a paramount need for students; but it is the competitiveness that adds to their urgency. As per recent reports, the success rate of UPSC exams is generally 0.2 per cent. With such a low success rate, it becomes essential for students to take extra coaching to crack this examination. This is also one of the biggest reasons why students enrol in the IAS coaching institutes to ensure their success in this examination.
A Booming Business Opportunity for Edupreneurs
The three-tier structure of the examination has created a niche for edupreneurs to come up with coaching centres that target either the entire process or just parts of the exam. Talking about the franchise system in this industry, a big brand name can influence a lot of students and bring credibility to your institute, thereby franchising in this industry can be a lucrative business opportunity. Association with a bigger brand name helps students to trust the organisation, unlike in an independent coaching centre which are mostly sceptical.
As per the sources, big franchise brands charge Rs 1.5 to Rs 2 lakhs to prepare students for the entire process and claim to have 10,000 to 12,000 students on their rolls every year. And the average investment required establishing an IAS coaching institute is just a minimal amount of Rs 5-20 lakhs for an area of 1250-1500 sq ft. It is evident that an IAS coaching institute is surely a lucrative business model for the edupreneurs who can pull-off a venture in such a booming industry.