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Preschool franchise 2019-06-29

India Has A Huge Market For Experimental Preschools: Vinit Srivastava

In a tête-à-tête with Franchise India, Vinit Srivastava, Co-Founder, Little Einsteins, talks about their International expansion, some important aspects of franchising and much more...

By Content Writer
India Has A Huge Market For Experimental Preschools: Vinit Srivastava

The pre-school industry is expanding rapidly all over the world. Given increased disposable income, increased awareness, need for early education, and has created a huge demand for pre-school brands in India and all over the world.

Little Einsteins, India’s fastest growing preschool, which has also been one of the first preschools to introduce a coding and foreign language curriculum for pre-schoolers. The brand is present in India as well as in 7 other countries.

In a tête-à-tête with Franchise India, Vinit Srivastava, Co-Founder, Little Einsteins, talks about their International expansion, some important aspects of franchising and much more...

Indian Pre-school market

The Pre-school market accounts for around USD 225 billion and the target population is approximately 116 million. It is a growing industry with huge demands. In India alone, it has grown at a CAGR of 38% and worldwide there is a trend of 18% growth.

Srivastava, stated, “We have established our presence in 7 countries in the world, but India remains on the top country in the context of the potential for the pre-school industry, followed by USA and Canada.

USP is the key

For Little Einsteins, their proprietary pedagogy and unique franchising model are the USP.

“While we have a very robust team in implementing effective education innovations from the world, we strongly believe in a mutually benefiting and profitable franchisee relationship as well. Our "Franchisee first" approach is also an equal USP of our brand and it helps all the passionate educationalist and child care experts deliver their best,” said, Srivastava. 

Importance of location for a Pre-school Franchise

 Location is one of the key factors for a successful franchise. “We ensure we suggest good areas and key tips on how to finalise a good location. Besides, we also make sure that we do not have 2 franchisees within the same vicinity to avoid encroachment into each other’s market,” added, Srivastava.

Things to consider before going global

a. Is your content applicable to the global market?
b. Have you gained knowledge of the needs of the country you are entering?
c. Do you have the required regulations and paperwork in place from the Governing bodies?
d. Will you be able to provide support and growth to the new centres?
e. Will your model be financially viable in the new country? 
 
India v/s International pre-school market

Srivastava, explained, “There are quite a few differences in the preschool industry between different continents as well, for example, Asian countries versus Scandinavian countries have a marked difference in their preschools so this comparison is difficult to make by clubbing the rest of the world in one group.”

“However some marked difference is that India has a huge market for experimental preschools, the parents are more inclined towards qualitative education compared to the international market and supportive for their child's learning needs,” he added.

They strive to provide a very balanced and caring atmosphere at home. In the International market, there is a lot of focus on emotional needs for a child since families are very fragmented and the emotional needs of children are not met at home.  

Why franchising is the best way to expand your business globally
- Ease of management
- Lower investment 
- Faster growth
- Franchisee feedback helps you improve your product in all aspects
- Better target audience reach

Challenges in Global Expansion

Knowledge of government policies and understanding each countries requirement were essential. There are different age groups for different countries preschools.  

Marketing Strategies

Srivastava, said, “We have both online and offline marketing strategy which differs from country to country. There are different needs of each country and understanding the target audience is important for marketing. So the strategies have to be planned based on the target audience of that country.”

Business Plan

Investment required – 10 lakhs all included 
Area required – A minimum of 2000 sq. ft with some outdoor play area 
ROI – Annualised 44%
Profit Margin – Around 50%

The brand is looking to foray into K12 education as well along with further expansion in the preschool market. The pre-school franchise is eyeing countries like Canada, Dubai, Vietnam, Germany, Poland and Ukraine for international expansion.

 

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jeetendra mallia : 01, Jul 2019 at 04:51 PM
want to open a pre-school in old bhubaneswar
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