The education sector is expected to grow at a staggering 18 percent to reach USD 34.12 billion in the next 10 years.
India is on the verge of emerging among the biggest hub of education industries nationally and globally. Despite constant emerging educational startups and big brands, the industry is constantly dealing with some challenges every now and then.
According to an India Brand Equity Foundation report, the higher education sector in India is the largest in the world, enrolling over 70 million students. This sector is expected to grow at a staggering 18 percent to reach USD 34.12 billion in the next 10 years.
Young entrepreneurs and franchisors that invest in the education industry are not usually familiar with the challenges that could become a roadblock for their business.
With the changing scenario in the education industry, opportunities and challenges are changing as well, running along with the latest trends transforming the industry.
Resistant to Changes
Resisting to changes was among the major challenges that the Indian education industry witnessed in 2018. Indian education is always known for following the curriculum model, trying to enhance and educate the students with the same module.
But as technology is majorly penetrating the global education industry, it’s hard to keep your brand away from such a storm. Many educators resisted to change that served as a major challenge in their education business journey.
Establishing a Global Network
Tapping the global education market has always been a major challenge for any educator. This tapping could help a brand get establish, innovating their services like activities, assessments, lessons, etc. Educators in 2018 lacked the communication with the other established brands that are doing excessively well.
Therefore, it’s necessary to establish a global network that is already catering well and adapting to new technologies successfully.
And to establish this kind of network, educators need to work together, identifying and sharing engaging ways for enhancing the practices at schools and colleges.
In today’s competitive education industry, it’s a basic need to acquire new and unique strategies for promoting and enhancing your brand in the market. 2018 witnessed many education brands opting to the outdated strategies that didn’t bring any major changes at their organization.
Acquiring a unique and new strategy is beneficiary as it would allow a brand to stand tall where new brands are constantly emerging. A well-planned strategy could guide a brand towards a successful journey, enhancing and nurturing several factors that are required for a business to be successful.