Why Private School Overseas Franchises Are On A Rise
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Education has been evolving with time. With the market for business expanding to no limits, educators are coming up with various new ways and innovations in order to mark their presence in the market. The education industry is expected to be one of the most profitable businesses if done with sheer sincerity and dedication.
The private education sector in India is estimated at US$ 91.7 billion in FY18 and is expected to reach US$ 101.1 billion in FY19. With digitalization and privatization hitting the industry, more private schools can be seen coming up, offering various courses and experiences. India has currently 70 million students enrolled in private schools, the largest in the world.
Campuses going abroad
According to a study, the number of independent schools in the United Kingdom, expanding their campuses abroad, will see an immense rise in the future. This might be the result of their strategic expansion plan or fund related issues. Franchisors interested in an education business can certainly eye on such campuses, welcoming them to India.
Demographic expansion by British schools
The evolving education industry has made 57 overseas campuses of British schools, with another 15-20 to establish by September. Britain has witnessed 19 of their campuses expanding abroad, marking a steep increase in the past three years.
Local franchisors could learn their working pattern and could utilize this chance. Investors would be welcomed by the British education chains if franchisors meet their expectations.
Opportunities for franchisors
Looking for more grants, the UK market hasn’t seen recent growth in lots of independent schools. Franchisors could become a part of their franchise, satisfying their revenue stream, and offering good quality of education nationally.
Richard Gaskell, Schools Director at ISC Research, says “Most private schools use a franchise model, where an investor or management company pays the school a fixed amount each year. It is similar to a royalty in order to use their name, brand, or expertise.”
This article was originally published on Franchise India by Shahram Warsi.