How Is the Franchise of a Known School Better Than an Independent Venture?
Are you venturing into the education sector? There are definitely many things that you need to consider while opening a school in India, and one of the most crucial aspects is whether you should take up a franchise of a known school or opt for an independent venture. In an independent venture, there is nothing defined, including the amount of investment that will be needed initially as well as in day-to-day operations, and all this uncertainty, makes it extremely daunting. It’s not that an independent venture cannot be successful, but there are definitely advantages of partnering with a renowned school franchise.
· Proper Support: Foremost, you get the support of the franchisor from the start owing to their valuable past experience. The franchisor guides you through the whole process of starting a school and tells you what all mistakes you should avoid doing or what all things you should do to make it a lucrative venture. In this way, you gain from the vast knowledge of the franchisor. Since the business model is already established, you have a certain blueprint with you for running the school.
· Fewer Challenges: Although there are a number of challenges involved in opening a school franchise,it’s less risky than starting an independent school. With the help of Internet, you can search about the background of the franchisor, its franchise of schools in India, etc. before signing the contract. You can also contact other franchisees to know about the minute details and understand the whole process. Moreover, you will have all the details beforehand, including terms & conditions, financial inputs, return on investment, and other significant factors, which will definitely help you in making a wise decision.
· Viability Knowledge: You can analytically study the viability of the project of opening a school franchise India. Knowing everything about the investment you will make, the profit you will gain and other fiscal information make things transparent, which in return give you the confidence that it’s going to be successful. Contrarily, in an independent school, things are uncertain – right from the amount of investment that will be required to the return on investment.
· Better Success Ratio: It’s proven that opening a school franchise in India has better prospects than starting an independent school. In former, you reap the rewards of a well-established model that has already been tried and tested by the franchisor. You get access to successful operational methods as well as establish a lot of contacts in the education sector.Since, you have proper guidelines, right from acquiring land to recruiting the staff, the chances of making mistakes that incur losses – monetary, physical or others –are very less; thus, making it a profitable venture in comparison with an independent school.
In order to ease the whole process, you can always avail services of any reputed school consultant in India, such as Shri Educare. Drawing upon their experience and expertise, they will help you start a value enabled school in India through their consistent tailor made support.
Source :- ArticleTed