Franchisees are very common across the world, irrespective of the sector we work in. It is one of the easiest ways to become an entrepreneur. Some of the marketplace stores and outlets that we often visit are mostly a part of the franchise model. The world of franchising is enormous and sector-agnostic, including our favourite fast food restaurants, movie theatres, malls, electronic outlets and clothing stores.
Edtech is one of the most profitable franchise opportunities in India, given the current scenario. Covid has given rise to radical changes in the way the world was functioning before.
Especially in the education sector, where students have shifted from physical schooling to online education. With schools and colleges all around the world being shut down due to Covid protocols, the only practical solution to teach millions of students was online learning.
Wide-range internet access was a major contributing factor in the steep rise in the steep-rise in the availability of proper education in cities as well as rural areas.
These factors, combined with the knowledge that millennials are tech-savvy and have grown-up socializing digitally and have a strong grasp over technology have given rise to a new business giant in the market, i.e., the Edtech Sector.
Various segments, such as pre-school, school, higher education, vocational, coaching etc make up the education industry. Hence, it becomes important to focus on that aspect of the franchise which will complement your future goals, which is your stronger suit and will help your individual growth.
Asking yourselves the following questions will help get a clear picture of your business:
- What are your interests and hobbies?
- What field are you best experienced in?
- What are your strengths, special skills and talents?
- Which sector involves the best use of your skills and talents?
Edtech is solely focused on developing and implementing all the classroom tools to create a comprehensive and interactive personal learning experience. The main aim is to improve the productive outcome of the students and enhance their learning abilities as well as reduce the burden of teaching dozens of the students at the same time on the teachers.
There is a substantial growth of Edtechs in the education industry. One main aspect is that the size of the EdTech industry is proposed to grow to over $4 billion by 2025. That is, 3.7 times in the next 5 years. This is because of the huge target audience, the schools, institutes and the students themselves.
Buying an Edtech franchise is not different compared to buying any other franchise. There are a few things one must be aware of before actually buying a franchise.
Research is the most important aspect in buying any franchise. Edtech is no different. Studying everything about the franchise, their number of years of operation and their business plan, the company’s expectation, their profits etc. is very important.
Go through the Edtech companies website to see their offerings, their courses. Also go through their social media to get a better understanding of their operations.
Doing a quick research about the demand of that particular Edtech or that particular sector of the industry is equally important. Inclination on brands which offer tech-based solutions, such as AR/VR and coding has increased, creating a demand for such Edtechs. Thus make sure your offerings match the current consumer demand.
Visit various other centers of Edtech and find out their way of operating. This helps in getting a better knowledge about the standard of their quality. Speaking to the students and their parents is the best way to get quality assurance.
The location of the franchise is usually the fine line between success and failure of it. One of the most important aspect is that it should be easily accessible to students and teachers alike. Bus stops, Train stations and taxi stands should be in the vicinity of the franchise center. Electricity, water supply and internet connections are at an optimum and uninterrupted. Thus having a franchise in a friendly neighborhood will help your franchise grow.
4. Funds and Franchisor Support:
Having sufficient funds and investments is imperative in the start of any business. Expenditure is a part of starting a new franchise, thus having sufficient funds from the very beginning is the cornerstone of the business.
Many Edtech franchisors usually provide staff training and center-setups. Additional help is also provided, thus ensuring that the quality of the brand is maintained.
Read: A Comprehensive Guide to Taking a Franchise for Public Speaking
So the question is even in Ed- Tech which is the type of franchise one should purchase?
Ed – Tech majorly is divided into 3 types.
With the boom in the industry there are tons of Edtech companies offering varied options for kids learning and development. All the way from Coding and Technology, Early Childhood learning, STEM learning ( Science, Technology, Engineering and Math, Social – Emotional Learning, Personality and life skills development course to language learning courses. The options are umpteen.
One can always pick any course that they feel most connected to the cause of it.
As a company we believe in developing the overall personality of a child by teaching them crucial life skills through interactive and immersive learning techniques. But our USP as a company is teaching them about body language as well whilst they learn these key skillsets that will contribute to their overall wellbeing and success in their adult life as well. It is a collaborative way of learning in a group course with trainers coming from sound and expertised backgrounds.
Know about our Personality Development Courses for Kids
If this is an area you are passionate about and you believe that these skills have a direct impact on the development of a child. You can definitely start with your Entrepreneurship journey today by taking a Franchise of our brand that has an international reach.