Franchising is the process where a well known brand allows another prospective investor to use opening a school brand name to conduct operations. Franchising is a certainly very useful mode of business expansion and offers a wide range of opportunities to aspiring investors to start a business with the least risk involved and minimum investment. In India, there are various business franchise opportunities in different sectors such as food & beverage, tourism, opening a school sector, retail, health care, and education sector. However, education is a flourishing sector that does not get affected by the changes in the economic cycle, which is why opening a school is known as the recession-free sector. Further, in India school franchising has gained quite a lot of importance. The reason behind a boom in the education sector is the need for standardized educational institutes that offer quality education.
There is no doubt that there are various benefits of taking a franchise rather than commencing an independent business. The various benefits of a franchise school are listed below:
- Training and Support – Continued training and support will benefit the franchisee with ongoing support, initial training, and the continued development of the products or services. With the support and guidance rendered by the franchisor, the school franchise will become competent enough to conduct its own set of operations. School franchise distributors include a range of services, from the setup process to the administration following the initiation time. Furthermore, numerous workshops and programs are offered to the school’s instructors and teaching team in order for them to operate in a certain style.
- Brand Recognition – To work under the name of a renowned brand will fetch you extra points in the form of long-term profits and easy acceptability. This spares you the agony of experimentation. Furthermore, in the education sector, trust is important, and it may take a beginning years to achieve substantial income and develop their branding. On the other hand, a school franchise school already has an existing market, so it needs very little time to begin seeing a return on that investment.
- Lower Financial Risk – If compared with other business ventures, school franchisees will incur less financial risk. Further, association with a well known brand name will reduce the first setup, administrative costs, and promotion. This will moreover ensure higher profit margins for the franchisee.
- Curriculum Development – Apart from the aforementioned advantages, the franchisor helps the franchisee to design the program content and develop the curriculum as well. There are a lot of legal processes to take care of if you want a new curriculum to be approved so if all these steps can be avoided, it will only benefit you.
- Strategic Advantages – Franchising benefits the franchisee with an accepted and proven code of conduct and with a brilliant operational track record that the franchisor holds. Further, there is also less risk involved as the systems and procedures are tried and tested. You would save a huge amount of money since you do not have to expend money on marketing or building up the franchise. As a result, you would be able to observe better profitability and lower economic concerns than other rivals.
- Know how a School Business works – Not everyone who is willing to enter the school education domain is aware of the education market and its nuances. In order to start any business, it is extremely essential to know how that business works. Further, most people in India think that school business is something that can be commenced without much knowledge only realizing later on that they require experienced professionals and experts. When you take up a reputed school franchise, they have the requisite expertise and experience in the school domain and you also get to educate yourself from the best which will help you and your school in the long run.
- Goodwill – A well known brand franchise brings with itself, a well established goodwill that is one of the most important factors when it comes to education. Therefore, this is a big advantage from the point of view of seeking admissions, marketing, and beating the competition. This will not only help you in cost-cutting in marketing but also helps in finding capable teaching staff since everyone wants to be associated with a branded name.
So, these are some prominent benefits that a franchisee can gain after taking up a school franchise. Hence, going for a school franchise is surely a lucrative and fruitful idea. Shri Educare runs a leading chain of schools across the world. Shri Educare offers help and guidance to all the prospective investors in terms of personalized support, competent and trained professional and technical expertise. Shri Educare is synonymous with excellence and getting associated with this brand will reap you profits in years to come.