Education is essential; there’s no doubt about it. Whether it’s a graduate enrolled in a Masters in Education online, a primary school student on their first day of prep, or a high school student about to commence VCE exams, it’s all vital for personal growth and progression. Learning is essential to set yourself up for life, a career and ongoing development.
And education is a viable investment approach for the savvy entrepreneur. Education is big business, from the tertiary sector through to registered training organisations and private tutorship. It’s a failsafe investment opportunity because people will always need to learn and upskill; after all, it’s how we get ahead in life.
This helpful article will focus on franchise education and share why you should invest in this as a franchisee. Read on to learn more.
What is Franchise Education
Franchise education businesses are dedicated education schools that teach specific knowledge and skills for a fee. They differ from public education institutions, which are typically free to attend, apart from some fees for excursions and other things.
A private education franchise might be a tutoring school, or it could be a swim school, a math academy, or a STEM learning course. The idea is that parents will pay the business to teach their children a specific skill set or knowledge base. For instance, a private coding franchise may teach primary or high school-aged kids how to code on a computer, setting them up for a stellar career in information technology or cybersecurity.
Typically, when you purchase a franchise in Australia, you pay an upfront fee that gives you access to the brand, premises, resources, equipment and everything you need to start the business up. Then, you will usually pay a percentage of your revenue to the franchise head office or owner, who provides ongoing support, as we’ll see in this helpful article.
Long Term Investment
An education franchise is a viable, long-term investment as a business opportunity. Education is always required, and if your franchise fills a niche you may have no competition locally. For instance, if you’re the only coding school in a town or suburb, you’ll have the market cornered.
Kids will always need to learn, and parents will always be willing to pay for their kids’ future and education. Unlike other businesses that can see downturns during certain economic climates, franchise education is a relatively stable long-term investment.
Make a Difference
By running an education franchise business, you get to make a difference in children’s lives and contribute to their long-term growth and development. This can be an advantageous line of work and sure beats selling burgers or doughnuts for a living.
Education programs contribute to kids’ ongoing learning, critical thinking and analysis development, innovation, and creativity in young minds. The long-term impacts of this include social progression and change and positive outcomes for kids.
Head Office Support
One significant advantage to purchasing an education franchise business as an investment is that it’s simple to commence operations. You don’t have to spend time, money and effort developing policies, procedures, business models, hiring processes, insurance policies, marketing campaigns and business strategy. All of this is already established, thanks to the franchisor or head office. It’s like plug-and-play software; you can hit the ground running.
Head office or corporate is there and available to help you kick-start your education franchise, and can look after advertising, referrals, feedback, complaints and other headaches, allowing you to focus on running the business and making a profit.
You are paying for the ready-made business model with proven results, so you can focus on delivering high-quality education services to kids and making a difference in their lives while earning a decent living from it.
Ready Made Curriculum
A significant challenge for private educational businesses such as tutoring schools and coding academies is developing a robust, proven and solid curriculum. This is labour-intensive and often needs cycles of iteration and change to become the best it can be.
The great thing about investing in an educational franchise business is that all this hard work has already been done. The franchisor has developed, tested, iterated and implemented the curriculum. It has ironed out all the kinks, and again – it’s simply ready for you to pick up and deliver and make a difference in the kids’ minds and hearts.
Also, the head office will constantly update the curriculum based on feedback from franchisees like you, as that’s their role in the process. You don’t have to stress about this at all; make the adjustments when you receive them.
Brand Name Recognition and Credibility
Finally, you should invest in franchise education because it means that you are getting an established brand name with all the recognition, trust and credibility that comes with it. Without this, you’d face an uphill battle to establish brand name recognition and credibility and the associated marketing and advertising costs that come with this. An established business name means that customers will recognise and trust your business from the beginning and be more willing to enrol their kids in a course or class than if you were a relatively unknown entity.
An Investment Summary
This informative article has focused on franchise education, and why you should invest in this particular franchise type. We’ve focused on the proven benefits of this business model and how it can make a profit while making a difference in kids’ lives.