UNITED STATES—Building an educational business from scratch can be done, but it is challenging. You first have to create a brand, then manage your own marketing and invest substantial startup capital. In many cases, simply joining an existing educational company as a franchisee is an easier option.
Currently, education franchises to buy are a hot opportunity. Estimates from Statista suggest that the sector as a whole was worth more than £98.7 billion in 2020. What’s more, it is growing every year, particularly in the UK. Students come from all over the world to experience the quality of the teaching that the country has to offer. Hence, an education franchise is certainly a worthwhile business opportunity you’ll want to consider.
In this article, we discuss why education franchises are hot right now.
You can help more people
Education is no longer public sector-dominated. In fact, parents and students are looking for private opportunities to enhance their education and move forwards with their lives. Thus, those who start education franchises in the UK can help more people. Instead of providing secondary services to existing educational institutions, you are able to go directly to the student.
In many cases, educational businesses teach children, but not always. There are also opportunities to provide corporate training and professional development.
Also, many franchises focus on teaching new subjects that schools don’t currently cover. Coding is a good example, as is marketing.
It is more fulfilling work
Young people today are the leaders and innovators of tomorrow. It is their ideas that are going to change the world and solve the problems that humanity currently faces.
For this reason, educational home-based franchises can be uniquely fulfilling. Through your endeavors, you can educate the future generation as well as provide emotional support and positive reinforcement.
Franchises operate on a variety of models, depending on their services. Some work with groups of students, teaching them a new skill or covering a subject not covered by the standard curriculum. Others work one-on-one; a setup that allows you to regularly check the individual’s progress and ensure that they’re building confidence.
Before you set up your franchise, you’ll want to think carefully about the kind of model you’d most enjoy. There are plenty of options out there, from companies offering ad hoc tuition to those selling course materials online.
It is a proven business model
Starting from scratch can be a lot of fun, but your business idea might not be proven. In other words, it might not work.
When you join a franchise, though, you skip this problem. Franchises have proven business models in place right now that provide all the tools you need to be successful. You get premises, marketing, recruitment, SEO, PPC, in-person advertising materials, pricing structures and more. This support saves you a tremendous amount of time, making the fees worthwhile.
Education franchises also provide helpful ongoing training. Sessions allow you to provide students with the best possible lessons, without having to go to a costly third-party provider.
You’re much more likely to survive
According to recent figures, almost 1 in 5 UK businesses fail each year. Thus, the probability of an educational firm folding in the first five years is extremely high.
However, when you join a franchise, you’re much more likely to survive and thrive. Successful education franchises grow fast and open new locations at a rapid clip. Many expand from just a handful of outlets to hundreds (or even thousands) in less than a decade.
Whether your franchise will actually survive depends on the actions. So long as you pick a good location and follow the approved formula, your business should succeed. Cheap franchises usually only fail if they choose the wrong location or the owner doesn’t put sufficient effort into getting the business off the ground.
Branding is becoming more important
In the past, branding wasn’t particularly important for education businesses. However, that’s changing. Students know educational firms vary in quality. Just like any other market, there are differences.
As before, you could create your own brand and market it from scratch. However, if you really want to make headway in the industry, it is often easier and faster to rely on somebody else’s brand instead.
Usually, the franchisor will do all the advertising for you. They will take care of the brand exposure element of the business while you focus on operations, driving interest in your products through SEO, PPC and other channels.
You help struggling children keep up
Perhaps most critically, educational franchises can help struggling children keep up. Thanks to teaching and psychology advances, educators now have more tools at their disposal to facilitate learning than ever before. Education franchise operators can pinpoint various blocking points for learning and then correct them before they create knock-on effects later.