The Franchising Model Is Working Wonders With Schools In The Indian Education System. But What Really Is It about Franchising that’s Working In Favour Of Schools?
The franchising model is working wonders with schools in the Indian education system. But what really is it about franchising that’s working in favor of schools? Let’s get you a few reasons why franchising works for K-12 schools and preschools:
Condensed risk of business failure is the greatest benefit of a franchise system. This is due to the fact that a moral franchisor will have a verified, tried and proven education concept in the market. Therefore, most of the lines will have been smoothened out and the threats to the franchise owner are diminished.
The brand, service and system would have been formerly seasoned and thus, they are delivered to the franchisee with a higher degree of acceptance by the parents. Franchising enables a small school owner to compete with big brands in the education industry and a franchisee can take advantage of the economies of scale. Add to this the franchisor’s reputation in the industry, the franchisee can perform under a recognised school brand and should have a distinct advantage over any well-established business competitor.
With the help of the training support provided by the franchisor, the franchisee covers the learning phase in a shorter span of time, which eventually increases their chances of succeeding considerably. The franchisee has the benefit of the franchisor’s experience in the field of management and administration and further most franchisors do make available back up and support facility including trouble shooting services to assist franchisees in their daily endeavors. This support includes managerial and administrative services, information and marketing support.
Lack of experience in a particular business is not necessary for a franchisee to operate it. All insufficiencies of know-how are resolved by teaching instructed by the franchisor. Indeed, one of the proudest boasts of franchisors is that they have the ability to turn around the professional existence of the franchise owner with their well-established brand name. Any lack of knowledge on how to run a business is not a problem as a franchisor will provide the necessary training to the franchisee.
Franchisees have a large amount of probability to enter the market and get going in a flash when they enter the market with a familiar brand identity, established business arrangement and services which have been already market seasoned.
A franchisee has the apparent backing of a parent institution and this is achieved by the pooling of resources, particularly in the marketing, advertising and promotions domain where each franchisee, by contributing a little, can have the benefit of a large fund for this purpose. In a well-run and structured franchise school, the franchisee is to just concentrate on implementation of the business practices while at the same time receiving the benefit of continuous market research and development to improve the business and the franchised system.
Franchising is a business that is growing in a full-fledged manner every year. With such upright stage, the industry with the growth in population day by day, it is the perfect time to take advantage of this constructive trail by becoming a franchisee. As a franchisee, you get these advantages:
Support assembly: As a franchisee, you are not alone, unlike setting up shop on your own. The franchisor school will assist you in terms of knowledge and advice when you are a part of a superior system of business. Often, you will also be aided by a centralised HQ which has a team of specialists who drive the business. A veteran support squad at head office will act like extra team for your school, accomplished in business domains like HR, IT, accounts, and sales & marketing.
Preparation: The franchisor will deliver you with a complete instruction sequence before you commence and then continual maintenance support throughout your tenure as a franchisee. The franchisor will also help you select appropriate location if required, being well-informed about the industry and its requirements, may also counsel on what tools to invest in and the general set-up of your business.
Proven expertise: All well-established, prosperous franchises will be able to compute facts and figures from their years of working and have a tried and tested business model. In other words, you are participating in a system that you know has proven its worth over the time. The franchisor will also be able to deliver you with explicit case studies that demonstrate the steps that previous/current associates of the group have gone through to attain their anticipated goals.
Robust brand existence: Many franchises have a centralised Marketing & Sales team at HQ who is keen to creating campaigns that will fortify the entire brand. They will also achieve the popularity and existence of the brand’s website, meaning that you will gain a high level of prominence without worrying about planning large scale marketing movements.
Largely, becoming a franchisee school has plentiful benefits that can unswervingly influence the realisation of your business goals and with the franchising industry mounting year-on-year you have more and more probabilities to seam into an industry or business that really motivates you. And education industry for that matter can serve as a very lucrative solution to your query.