23/04/2020 11:53 AM IST
Quality education is the need of the hour. Parents have finally started giving more and more importance to education. No more is it ok for children to drop out of school, on a general basis a minimum educational requirement is graduation. With the rising competition and the demand for good schools investing in a high school is one of the viable options.
Having said that getting a school up and running is a lot of work. If your heart lies in education and you would like to play an active role in building the future generations and at the same time leave a legacy behind for years to come, here are some reasons why you should consider a high school franchise when thinking of business opportunities.
1. Quality education is the need of the hour: The progress of any country depends on the quality of education it provides. With the world going digital it has become increasingly important to raise standard of our education so that our children can compete with the world.
2. Ever growing demand: Young population in India - as per the last census report, 35 % of our population is from the age of 0-15 years. With globalization and urbanization, the demand for quality schools and international schools is on the rise.
3. A good school will always be in demand: There are a few essentials that will always be in demand and one of them is education/schools. Education is important and going to school is important too. Some portion of schooling can be virtually managed however children need to build their social quotient, on life skills and need to arm themselves with qualifications to set them up for jobs, entrepreneurship and other career paths, the starting point for all of these is 'school'.
4. Gives a sense of satisfaction: Being part of a child's growing up years and playing a part in building their future can be a very heart-warming and gratifying feeling. Imagine doing that for more than 5000 students every year.. imagine touching the lives of thousands of children and families over years.
5. Profitability: Schools admit a larger no of students v/s preschools and is a long-term investment for parents - a minimum of 10-12 years (preschool to grade 10 or grade 1 to grade 10 or grade 12). This makes it a long-term investment in terms of consistent fees from parents. Most often children do not move schools unless they are moving cities or the child is unhappy in that school. This makes for a higher profitability by way of higher enrolments and consistent fees over 10-14 years.
Once you have considered investing in the education sector then comes the question should you start a school on your own or look at the school franchise option. Each of these options has its pros and cons; however, today we shall cover the pros for exploring a high school franchise business opportunity.
1. Brand Recognition: A high school franchise brand that is recognized by the parent community and is known in the sector to be a path-breaker is a brand that you should consider as there are higher chances of your school being successful among parents in the vicinity if it is a known leader in the education space. Also schools with a heritage of many years and strong alumni make a strong case.
2. Support: In the high school franchise model you have a ready support system and assistance. The franchise support teams guide you with everything right from set up, teacher training; launch promotions and consistent hand-holding through the tenure of the school.
3. Lower financial risk: A high school franchisee will incur less financial risk - franchising benefits the franchisee if one chooses a school network with a proven and accepted model with a successful track record (successful schools by other franchise partners of the brand).
4. Ready acceptability: There is a higher acceptance of a 'school network' as parents prefer sending their children to a known school. In the event of a transfer of jobs, they would prefer sending them to the same school in a different city. Parents generally prefer known schools v/s a school with a new or independent name.
5. Training assistance: School franchise brands generally build a support team that assist partners with training of teachers on a regular basis ensuring the 'curriculum' is delivered exceptionally. This also impacts learning of children and boosts school results. Parents prefer sending their children to schools that have toppers and students that excel in sports and performing arts. The backbone of this is a good curriculum & well trained teachers.
6. High involvement: The right kind of high school franchise brand ensure high involvement in the franchise partner project from the start. Support in teacher & school leadership recruitment, training etc., that ensures your school will achieve it's academic goals thereby achieving it's admission numbers year on year making it a profitable business model.
So if you are thinking of new business opportunities and the education sector is on your mind, high school franchising is definitely an option worth considering.