This is the right time to invest in the Edtech industry because of the growth it is experiencing currently.
COVID has changed how the world looked at things. Everything that needed physical presence is now preferred to be done digitally. Especially, the education industry has seen a massive change from physical schooling to online education.
There is a boom in the growth of Edtech companies providing online solutions to the education industry. The market growth estimate is 3.7 times in the next 5 years. The size of the industry is expected to grow from 2.8 billion to 10.4 billion by 2024.
Also, there is a huge target audience to cater to, the schools, institutes, and the students themselves. It is a lucrative market for innovators and investors. This is the right time to invest in the Edtech industry because of the growth it is experiencing currently.
Proctur is a new age edtech startup that pioneers in digitization of education institutions. This company was started in the year 2016 as a communication platform between the students and the teachers. Today, it is offering multiple solutions to educational institutions like back-end operations management, online teaching, and selling courses online.
This Pune-based Edtech Company is associated with over 2500 institutions and 15,000 teachers. As compared to other Edtech companies, Proctur has an array of services and many new value-added services, which are added frequently.
Within 4 years of operation, the company is already serving over 125 cities across the globe with 1 million students. It has two main products the Proctur LMS for informal education institutions and Proctur for schools. Proctur has safe and secure platforms with multiple integrations for the institutes and schools. Its main USP is the lowest amount on payment gateways.
Proctur already has 15 channel partners across 7 countries. Proctur has a proven track record in the industry and experience matters while choosing a brand for franchising. The product quality is unmatched and differentiates from the others in the industry.
Over 2500 institutes trust the company and have tied up with them. The customer satisfaction is as high as seen by the renewal and referral numbers. Also, it provides the best in class client support.
The entry cost for a channel partner is the advance payment for a certain sales commitment. This franchise fee is different for different cities. It is Rs 1 lakh for Tier-I cities, Rs 50,000 for Tier-II, and Rs 25,000 for Tier-III cities.
With Proctur, the channel partner does not require any infrastructure. He has to only sell the Proctur licenses as a part-time or full-time business. Once the product is sold, the income continues each time the licenses are renewed by the client.
In terms of development, each year VAS would be rolled out in the future. These services will be provided to the schools and institutes for a price. This will be an added advantage income.
The channel partner takes the billing from the client on a proprietary basis. He need not pay anything to the brand after franchise fees.
The channel partner is responsible for the sale of the Proctur license. Once the sale is done, the brand takes care of the rest of the things. The after-sales service, the product management issues, the updates, upgrades and new developments, data security and privacy assurance are all seen by the company.
The channel partner is given training by a designated team by the company. Complete training is provided to the channel partner to understand the software fully. They are also trained on how to approach the schools, identifying the need of the schools, and how to sell. It is a 5-day online training program and can be lesser depending on the learning speed of the channel partner.
The marketing is done by the brand on its social media.
The channel partner is free to charge its clients according to his preference. The high student schools could be charged more and the low student schools less.
The channel partner is given the exclusive geographical right to the area he serves. If there are leads of that area to the company, it will be transferred to the franchisee to handle it.
In the past nine months, the Edtech industry has grown 7 to 9 times than what it should have been. Hence, now is the perfect time to invest in this opportunity.
Edited By: Vaishnavi Gupta