Want to be your own boss? A right vision and a promising opportunity can lead you to achieve your dreams. One such option that is thriving and flourishing extensively in the Indian markets is the franchise business. This business model is entering every sector of the economy but the education sector is among the fastest-growing ones. Opening a school franchise is a propitious venture. It is a recession-free and low investment seeking opportunity which generates long term profits. Also, It is very convenient for women entrepreneurs and is less risk-oriented.
But to optimise and make the best use of this opportunity, it is important to collude with a reputed and well-known brand. When you have a right partner and empirical approach, the venture becomes profitable and enticing for both the franchisor and franchisee. Here, we will discuss some school franchise benefits:
Benefits for franchisor
Franchising is the easiest way of establishing a school chain without investing a huge amount of money. If a well-recognised school plans on expanding its school business, with less capital expenditure, it can simply give its brand name to a new entrant. In this manner, it can develop a widespread school network and publicise its brand more.
The franchisor can earn extra revenue by franchising. The school franchisee pays a royalty fee to the parent-school in return of using its name and support. This ensures a fixed amount of additional income to the franchisor on a regular basis.
By opening more and more schools all over the country and in different parts of the world, the growth rate of school increases multi-folds. The brand becomes more recognised and popular with minimal expenditure. It is another school franchise benefit that upholds.
If the school opens its branches across the country, it will require huge marketing and advertising cost to make its presence visible in the education sector. Also, it has to publicise locally to let people know about any new branch. But in the case of franchising, the marketing cost is shared by the franchisees.
Benefits to franchisees
Low capital investment
The major benefit of opening a preschool franchisee is the low cost of the initial investment. The cost of promotion and administration involved at the initial level is less. The school has already made its mark and name in the market, so the franchisee need not be involved in the extensive promotion.
Setting up a school is a little tedious process if you are doing it independently. It needs the support of different teams to ensure functionality. This is another point where a franchisee has an upper hand. If you are a part of a franchise network, then this is the responsibility that the franchisor holds towards its partners. Nowadays, school franchisees get continuous support from the parent company in terms of recruitment, set up, IT, vendors, supplies, location, customer handling and all other areas concerning the smooth functioning of the business.
The biggest advantage of any franchise business is the brand name of the franchiser. It takes years for any school to make their place among the most reputed and well-recognised schools. Here, the brand is already known and accepted by the parents. This saves your years of efforts in establishing the name and making your presence visible.
Every business has a target audiences which it wants to attract. In the school business, these are the parents who only dwell on the school reputation. This reputation is built by effective marketing and advertising. In the franchise business, the advertising cost is mainly borne by the parent company, and franchisees can take advantage of it by simply advertising locally.
School franchise simplifies the school operation for the franchisees by providing ready-made curriculum at hand. The curriculum is the foundation of any school and timely research is very crucial to keep oneself updated. This responsibility for regular research and curriculum development lies with the parent school. This further eases the things for the franchisees.
The above-mentioned benefits of school franchise model prove that it is a lucrative prospect for both franchisor and franchisee. It is always useful and easy to start a collaborative venture than going individually.
A reputable brand to collaborate with is SHEMROCK & SHEMFORD Group of School. The Group has shown that this kind of win-win situation is possible and feasible. It has a wide network of schools which comprises of more than 650 schools. It has also taken its partners along in its journey of growth and success. It has emerged as a perfect example of a win-win situation for both franchisor and franchisee in case of school franchising.