With approximately 29% of India’s population belonging to the age group of 0-14 years, India’s education sector offers a wonderful business opportunity to all those looking out to start something of their own.
Well, despite being a profitable business, it is no easy job to open and run a school from scratch. Therefore, if somebody wants to venture into the education business, franchising would be a great option.
In this blog, we have listed down 7 important points you should consider before investing in a school franchise in India.
It is very important to know the number of years a company has been operating and other related details before going for a franchise tie up. This helps in judging their previous track record. Since you are investing your money for goodwill, when you join a system, the more the number of years of operation, the more the students, the better will be the market stability.
- Involvement of the management
As the vision, mission and objectives of the organization are controlled by its top management, by joining a franchise you are in a way choosing your leader for the coming years. Therefore to make a wise decision, you need to do extensive research about the promoters. There are a lot of inexperienced ones in the market and we are sure you would not want to indulge with them.
You can read about the promoters from their websites, review by experts or make competitive analysis, etc.,. This will help you get an idea of the brand, the people behind it and the morals and values of the organization. You can then check if the same match your vision or not.
Also, check for third party management and read what the media says about them. In brief, it is important to choose a company wherein the top management is actively involved.
- Quality assurance
Researching about the school franchisor via both online and offline sources will help you to reach the results in a constructive manner. Social media these days is a powerful tool therefore connecting with the social media platforms like Facebook, Youtube etc will help you know the reputation of the school. Also, you could conduct personal research by talking to the local people in your area where the brand has a huge presence.
Moreover, you can take into consideration the opinions of the franchisees. The brand with the higher percentage of happy franchisees is the one that is worth choosing. One of the other ways to identify credibility is to visit the website of the school and know about the program they are offering. You can also try and research the philosophy of the curriculum. To judge the curriculum of the school, the best way is to ask in the neighborhood of existing branches or the parents of the kids studying there. After all, it is important to be completely assured before making an investment.
- School design
A brand that allows franchisees to design their own interiors most commonly uses this as a strategy to sign up for more franchisees. By doing so, brands tend to have no uniformity in their design and infrastructure. Thus, you should try and visit the schools to see how attractive the interior areas are as you will be paying for the same. Furthermore, a school system that has a well established network should be able to assist you in finding the right location and in fulfilling you meet the government formalities which are required for most primary classes.
- Recruitment and training
As teachers are responsible for the success of any educational institution, this is one of the most important factors you should consider. Do ask in detail the kind of assistance that is provided in teacher recruitment and enquire about the training given by the central office. Any quality school franchise in India will offer online and on site training.
So, do consider the recruitment and training factors before signing a franchise agreement. Go for a franchise setup where teachers are recruited by proper examination.
In today’s digital era, it is essential to have an understanding of technology for any educational organization. Organizations that are maintaining pace with technology is sure to have an advantage in the coming years over those who do not understand the same.
Therefore, it is imperative to look for the latest trends and technology and then sign up for the most tech savvy school franchise. This would be beneficial for the children as well as your business in the years to come.
- Support from franchisor
There are many school franchisors who provide 24*7 support to their franchisee in the form of staff training, site setup, promotion and marketing, recruitment etc. Before selecting any school franchise, ensure whether they will provide additional help for management so that the quality of your school is maintained.
The brand you decide to tie up with should ideally have preschool, primary school and 10+2 franchise options. This is because you may want to upgrade your preschool to a primary school and so on for your formal school. To not be stuck in a situation in the future where you do not have flexibility, it is better you consider this before signing up for a school franchise in India.
If you keep these 7 tips in mind, it will be easy for you to shortlist the brands that will help you set up a quality school in your desired location.
Embark on your school franchise journey with Shri Educare
If you are interested in taking up a school franchise India, get in touch with Shri Educare. Known to be the best education consultant, they can help you start your dream school by taking all the above-mentioned points into consideration. They are not only the first choice of entrepreneurs but also experienced businessmen when it comes to setting up a profitable business venture. Connect with them today!