Education is considered as the evergreen business because schools do not see dull day especially if they belong to a renowned franchise brand. Read on...
The franchise as a business has provided a very healthy option to expand across territories. But some brands often mistake while taking the decision of when to franchise, some do it too early and some are late.
Ajay Kumar Gupta, Founder & Director of SK Education Private Limited writes, “It has been observed in the past that chances of a franchise surviving in the market are higher than that of a new business. To break the myth: Franchisor is not the parent, and the franchise is not a child. They both work independently and do not meddle with the other’s work. A franchisee seeks support from the franchisor as and when needed and the franchisor provides support, business model, and other equipment and material so the business can be carried forward.”
Education is considered as the evergreen business because schools do not see dull day especially if they belong to a renowned franchise brand.
No Place for Fun in Running Education Franchise
Ajay writes, “Franchising in the education sector is as important as it is in other sectors. Although, in the education sector, it is not merely about expanding the business; being a part of sector brings many responsibilities along. Unlike franchisees in another sector, it cannot be just shut down if it doesn’t work for the franchisee owner. It has to be handled with extreme care. If the franchisee owner, for some reason, decides to shut down the franchisee in the middle of a term, then the students may face dire consequences as their whole year will get wasted, and because of that one franchisee, many parents will not trust the brand again. Thus, franchising in the education sector is not only crucial but also sensitive.”
Passion for Business
Dawn Engelbrecht, Founder, Sherpa Kids International (New Zealand), says, “Truthfully, I think it’s just about being passionate about education. So, I always say to people that I can teach you how to run a business but I can’t teach you how to like children. So you need to be passionate about children and about making a difference in their lives.”
If you find your passion in your education business, let the passion grow and reflect in your business. To do that you need to find out where your education business model will work the best.
One should look for people in those areas, who share the same passion and are willing to start their own business, this way one can see the growth of the business as well as the passion.
From the Customer’s Perspective
Every day there is some educational institute pop up in the metro cities as startups or entrepreneurial venture but not all succeed because the customer fails to establish trust in these brands.