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Opening a new school is an elaborate logistical and financial undertaking subjected to many challenges and uncertainties. The task is even more grueling for young edupreneurs who do not have prior experience in managing any educational institutions. Planning the academic structure, acquiring permission, and affiliations, and hiring skilled professionals requires expertise in the field. Aspiring edupreneurs can mitigate these challenges by partnering with reputed brands in the sector and entering into a franchise agreement. School franchising is a highly effective model for starting an educational institution.
Though franchising isn’t a novel concept, in India it has just started picking up pace. The country is now home to many reputed education brands, which are widening their presence in tier 2 and tier 3 cities by collaborating with budding edupreneurs. The franchisor and franchisee collaboration is also proving beneficial for parents and students yearning for quality education, at par with global standards. As per a report published by the Federation of Indian Chambers of Commerce & Industry (FICCI) titled ‘Envisioning India 2030’, India will have around 300 million schools by 2030. Looking at the numbers, the school franchising model seems like an ideal option to provide quality education to future generations. This model offers a win-win option for both parties involved – franchisee, franchisor, parents and students.
How school franchising is beneficial for the franchisee
In the school franchising model, the franchisor brings their experience, expertise and long legacy in the field of education that help the franchisee in the smooth setup of the educational system. Franchisors guide the franchisee in successfully starting the school and helps in its smooth operations. The franchisee gets the 360-degree support from the franchisor that includes:
- Business planning
- Hiring and training of teachers
- Assistance in CBSE affiliation
- Periodic audit for quality maintenance
- Curriculum designing and implementation
- Marketing and communication
- IT support
How school franchising benefits the franchiser
Growth and expansion are the objectives of any reputed brand. Franchising helps the brands to expand rapidly, particularly in tier 2 and tier 3 cities, which won’t be possible if the brand chooses to open the school on its own. Besides, franchisees also provide support to find the right space which can be a task for the brand if they do not have much idea about the particular area. The franchisor benefits in the following ways:
- Expanding the brand’s presence in small towns and cities
- Royalties are paid by the partner school
- Greater prospect for growth
- Capturing a larger share of the market
- Increase in the brand’s reputation
- Cutting of costs and risk mitigation
Besides, the franchisor and franchisee model also promotes the cause of universal education by making it accessible to all. It provides quality education to the students, nurtures their talent, and creates leaders for a bright future.
Source:- BW Education
Link:- http://bweducation.businessworld.in/article/School-Franchising-Future-Of-Education-System/02-07-2022-435115/
Published on:- 02nd July 2022