The education industry is growing to become a major contributor in the nation's GDP as new business ideas are emerging in the industry. Read on...
India is one of the leading contributors in the global education industry as it has the world’s largest population of about 500 million in the age bracket of 5-24 years.
As India moves ahead in the path of development, the education industry seems to be improving as new subsidiaries of traditional schooling are emerging, thanks to the technologies and the booming awareness amongst public. All of this gives rise to new business ideas that are designed to cater to the growing needs of students.
Here are some of the best business ideas in the education and training sector.
Skill Development Centres
In the rapidly evolving technological environment, there’s no denying the fact that the skills and knowledge are helping us in earning our bread and butter. This is the importance of skill and knowledge in today’s time. A skill development centre, regardless of the niche, is a very good business option in today’s time. To start a skill development centre, you must be well-equipped with the skill itself. Apart from knowledge, equipment, infrastructure and supplies are important things on which one should invest.
India has also signed a loan agreement with the World Bank under ‘Skills Acquisition and Knowledge Awareness for Livelihood Promotion’ (SANKALP) project to enhance the institutional mechanism for skills development. So, opening a skill development centre is a profitable business option in India.
Pre-Schools/Day Care Centres
Pre-schools and day care centres are gaining immense popularity as most of the parents remain busy enough to take proper care of their children. There are millions of people who are opting for such schools. The growing population of working mothers and increasing expenditure on education has flourished the Indian pre-school market. Schools like KidZee, Eurokids, and Kumon have flourished themselves in the market and offer franchise opportunities for so many aspiring entrepreneurs.
Career Counselling Firm
With the emergence of various career options, students are getting all confused when it comes to choosing the best career for them. Studies have revealed that around 85% of students are concerned about which option to choose after 12th and 92% don’t get any career related guidance. According to the recent study, India’s 350 million students need at least 1.4 million career counselors. This is why career counseling is one of the best business options for those who are skilled in recognizing the talents of students.
Home Tuition Services
The inefficiency of schools in providing quality education and the inability of teachers to focus on each student in the classrooms – these two factors have given rise to the growth of tutorial service businesses.
According to statistics, the global private tutoring market was estimated to surpass $96,218 million by 2017 and is expected to cross the mark of $177,621 million by 2026. Apparently, tuition services have a lot of potential all across the globe
E-learning platforms such as online learning and mobile based learning have taken the world by storm. As the accessibility of mobiles and internet penetration has witnessed a tremendous growth in the past few years, online education has become an affordable way of learning for many students. India has become the second largest market for e-Learning after the US. This suggests that the future for e-learning platforms and learning apps is going to be bright and could be considered as a profitable business option.