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Apr, 01 2014

Right mentor for right returns

With more than five decades of expertise in IIT-JEE Coaching, Vidyalankar has carved a niche in offering affordable coaching through its competent faculty and unique teaching methodologies.

In an interaction, Vishwas Deshpande, MD, Vidyalankar, talks to Amanpreet Kaur about their pan India expansion plans of opening 100 franchise outlets in the next five years. 

How has been your entrepreneurial journey? What have been the initial challenges for you and how have you overcome the same?

Vidyalankar has the legacy of 53 years in IIT-JEE coaching. Shri C. S. Deshpande founded Vidyalankar in 1960. We started its operations in a small rented school class room in 1960, and over the years, it has expanded by initiating various activities like training for engineering and medical entrance exams and colleges in engineering, sciences, commerce and management. At present, Vidyalankar is the only coaching institute to have its own colleges like Vidyalankar Institute of Technology, Vidyalankar Polytechnic and Vidyalankar School of Information Technology. The number of students appearing for engineering and medical entrance exams is growing by leaps and bounds, yet the coaching industry remains unregulated and unorganized. The dearth of the quality faculty in tier II and III cities has left students with no options but to join the local coaching class, and compromise on the quality knowingly or unknowingly.  This is our personal experience that good quality of student is not only concentrated on metros but the talent is present all over India. Our franchise model is evolved to make available to all these deserving students the set of professionally managed educational services and make their dream a reality. We are concentrating on, how we can make a difference by delivering cost-effective coaching with the competent faculty, professionally managed services and time tested teaching methodology.

How much market share are you aiming to tap in India's test preparation industry?

Through franchising, we want to achieve a fusion where the local market knowledge of a franchisee and the educational expertise of Vidyalankar will help students realise their cherished dream of admission to top-notch institutes like the IIT’s. The very reason to adopt the franchise model is with a basic motive to make available quality education to the students in remote areas of India.

We make best use of the local market knowledge of the franchisee and integrate our already well proven operating and administrative systems to ensure that quality education is made available to students.

How many outlets will you be opening by end of this fiscal year?

We plan to set up a network of 100 franchise centers (pan-India) in the next five years. This year, we are coming up with centers in Gujarat and Odisha and will slowly float new centers in North and West India.

 

Franchise facts

Investment: Rs.18-20 lakh

Area: 670 sq.ft

RoI: 23-600%

Existing outlets: 13 company-owned & 18 franchise centers

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