The Indian coaching industry is assumed to be growing at over 15 per cent per year, welcoming new educators and brands for offering coaching services to competitive exam aspirants.
Getting enrolled in a competitive exam coaching is not really an option anymore. In fact, it has become a mandatory thing.
Parents want their wards to accelerate their way to prosperity. This aspiration could be considered as a factor that has caused the competitive exam coaching industry to boom with the changing time. Today, the coaching industry in India is a massive segment that is generating employment on a regular basis along with educating people as per their requirement and demands.
Educators, on a regular basis are coming with different business ideas that can further enhance the current scenario of the coaching segment in India. The remaining work is being done by the franchising model that is attracting the educators to run and expand their coaching business beyond different territories.
The Growing Industry
More than 15 million students prepare for competitive exams (IIT JEE, CAT, Banking, etc) every year. Henceforth, it is safe to say that, test preparation indeed is one of the most lucrative business models that exist today.
The Indian coaching industry is assumed to be growing at over 15 per cent per year, welcoming new educators and brands for offering coaching services to competitive exam aspirants. Especially when technology has become an essential component of the Indian education industry, entrepreneurs are fully utilising the tool for enhancing their services, assuring their place in this competitive industry.
Education going Digital & Tech Equipped
Digitalisation in education has been a thriving factor in recent years which has managed to get students on-board who are willing to prepare for competitive examination. Earlier, these students had to relocate to specific locations for acquiring quality coaching services.
But now, students can easily access quality coaching services online without worrying about relocating to an alien region. All thanks to digital education trend, coaching service is now easily accessible by masses that are looking to acquire proper education through online portals.
Aakash Digital is one such initiative that has created a buzz in the recent time. The brand, after successfully dominating the offline coaching industry is now catering through the online platform. The brand's primary motive is to make coaching services accessible to every student that belongs to both the rural and urban areas of our country.
Through such online platforms, educators are offering hundreds of coaching sample papers that can prepare students to stay competitive while preparing for the examination. Further, the availability of online doubt classes by experts is another key feature that is making this initiative further fruitful.
Franchising Acting as a Boon
In the current world, franchising has been holding great potential for the private coaching industry, especially the competitive exams sector. The is one such area which is largely being driven by brand name. As per experts, franchise owned and franchise-operated model is assumed to work in the best manner while growing a coaching business through franchising. This is because students give primary weightage on the study materials provided by the franchise-based coaching institutes.
For example, Career Power and ALS Satellite Education are two of the many franchise-based competitive exam coaching business that is operating successfully in today's time. In order to get a franchise of Career Point, one needs to have an investment around INR 10-20 lakhs followed by an area ranging between 1500-2500 sq ft.
Whereas, the franchise of ALS Satellite Education is available at an investment of INR 10-20 lakhs where franchisees are supposed to have an area around 1500-2000 sq ft.