Choosing the Right School Franchise
A school is like a second home for most students. It is a place where children have many first experiences in their lives and where they make friends for the first time. It is also the place where they not only learn subject content but also, moral values and their relevance in today’s world. On the part of business owners, in terms of franchise and franchisee, a school is viewed from a different angle. To give you a better idea of what exactly this means, it’s integral to first familiarise yourself with the concept of franchise and franchisee. A franchise is an agreement and arrangement in which a company allows another business to sell its products and services. A franchisee is nothing but a business that has agreed to sell the company’s products and services.
You might be wondering, how is this relevant concerning a school? If this is precisely the thought that crossed your mind, you know that you’re in the right place. A school franchise sells its name, schooling equipment and services to a franchisee who runs the operations of the school under the guidelines provided by the franchise. Choosing the right school franchise can have a great impact on your future success as an educational entrepreneur. Since there are so many options available when it comes to a school franchise, you may get confused. Always remember that you must choose a school franchise that aligns with your values and goals. As we delve deeper into the article and highlight some of the various factors that should be kept in mind when choosing the right school franchise, you will learn how certain key factors play a great role in influencing your decision when choosing the right school franchise.
Key Factors When Choosing The Right School Franchise
- Defining the educational philosophy- The first step that one must embark upon in the journey of choosing the right school franchise is defining your clear-cut educational philosophy. When doing this, you must consider the teaching methodologies, curriculum preferences, and values that are important to you. This will help align your vision and mission with that of a school franchise which best suits your needs. Research different educational approaches like play-based, project-based, or traditional methods, and evaluate which resonates with your ideals and long-term objectives. When thinking of a play school franchise, EuroKids comes to mind as it has a team of experts that balance academics with cocurricular activities to focus on the holistic development of children.
- Assessing market demand- Conducting detailed market demand research will help you understand the demand for the various types of schools given the demographic and location. Demographics and location are key factors that play a huge role in determining the future success of a play school franchise. Understanding the needs of parents and students in your community will help you choose a school franchise that addresses those needs effectively. In addition to this, consider the potential for growth and sustainability in the long run. Thankfully, if you choose EuroKids as your choice of school franchise, they have representatives in all major cities who, with their knowledge and expertise, will help you select the ideal location.
- Evaluation Financial Viability- One of the primary concerns when making such an investment is finances, you must determine your budget and then select from the options that fall within the set budget. Some of the finances to bear in mind include the initial investment, ongoing fees, royalties, and other financial obligations associated with the franchise. No business should run a loss, which is why it is important to evaluate the potential return on such an investment. For instance, to start a preschool as a franchise for EuroKids, one has to invest roughly between 12-15 lakhs. However, do bear in mind that this amount can vary depending on the size of the school and the city in which you want to start it.
- Research support systems- The support offered by the franchise is essential for the smooth operation and growth of your school. Research the franchisor’s track record, reputation, and experience in the education industry. It is important to know the services that the preschool franchise is willing to offer. A close study of the training programs, ongoing support, and resources they provide to franchisees will give you a better understanding of which preschool franchise to go with. Some of the identifying factors of a reputable franchisor include comprehensive training, curriculum support, marketing assistance, and a network of fellow franchisees to collaborate with. You could also go a step further by contacting the existing franchisees for the collection of feedback. In the case of EuroKids, every franchisee will be provided with a EuroKids ambience manual that highlights the aesthetics of the centre. Eurokids also provides school equipment, curriculum, daily teaching programs, books, and many other teaching aids.
- Consider Brand Reputation- Your potential future success depends a lot upon the existing success of the school franchise. One way of determining the success of the franchisor’s brand is by doing an in-depth study and research of the franchisor’s brand reputation, history, and market presence. The franchisor’s track record, alumni achievements and feedback from parents can be valuable ways in which one can assess brand reputation. While there are numerous school franchises in India, one of the most reputable based on reviews and feedback happens to be EuroKids. Perhaps it is because of their dedicated service towards franchisees or the quickness with which they help you start a preschool.
- Understanding legal and contractual obligations- Before committing to a school franchise agreement, review the legal terms of the contract. Seek professional legal advice concerning restrictions, termination clauses and renewal options. You must also take into consideration the franchisor’s expectations regarding curriculum, quality standards, and operational guidelines. Be sure of what you are agreeing upon before signing on the dotted line.
Here at EuroKids, we strive to offer the best experience to students in all aspects. One of our goals is to expand as a school franchisee and get more franchises on board. After viewing our terms and conditions, you will realise how EuroKids as a school franchise remains unparalleled. If you want to learn more about us as a school franchise or even about the health and academics of your little ones, be sure to visit us at our blog or better yet, head down to our nearest centre.