Education is among the largest service markets in India and franchise system in India is considered as one of the prime areas of investments as the education system of India has been going through a strong phase of revolution. It presents huge business opportunities to those who are eager to invest.
In the last few years, there has been a significant increase in the market share of the education industry; the reason why more and more investors are entering the sector and exploring the tremendous education business opportunity in india.
The Education System in India is categorized into Formal and Informal Education Forums. The Formal Education space is regulated by the Government and has a dominant share in the overall education market.
The Formal Education Sector includes:
K-12 Schools: The K-12 education is the term used to denote the education imparted in the primary and secondary phases of a child’s school life. This particular system covers a child’s education from kindergarten till the 12th grade. The concept is slowly gaining its importance in India with the government introducing new educational schemes like free compulsory primary education throughout the country. K-12 Schools are governed by different schooling boards such as the State Boards, ICSE, CBSE, IB, etc. Many top brands offer franchises of K-12 schools for budding entrepreneurs.
Higher Education: Higher Education comprises of Graduate, Diploma and Professional Courses. After passing the Higher Secondary Examination (the 12th grade examination), students enroll in general degree programmes such as bachelor’s degree in arts, commerce or science, or professional degree programs such as engineering, law or medicine. Similar to K-12 schools, there are many higher education franchise options in the market.
Higher education in India is regulated by the University Grants Commission (UGC) and the All India Council of Technical Education (AICTE). It is compulsory for all the higher education institutions to be recognised by the appropriate national level statutory bodies established by the Government of India.
The Informal Education Sector includes:
Preschools: Preschools do not aim at developing academic skills like reading and writing in children. There are no set goals or any stress on performance, rather the focus is on the sensory-motor development and the social development of the child, to develop age-appropriate behaviour at the right time. As an investor, think about whether you want to start the preschool under a new name or choose preschool franchise model. Look into the laws that govern the policies of opening a new play school and conduct your research thoroughly about the existing preschools and successfully open your own preschool.
Coaching Institutes: Coaching Institutes are largely unregulated and bear no constraints on profit-making. These institutes play a key role in helping students in their preparation for the major entrance tests and further ensure that students qualify for admissions into reputed institutions. You can fulfill certain basic prerequisites (like a central location, adequate infrastructure, quality education, study material, etc.) and easily open a coaching institute. This is another lucrative franchise opportunity for education business.
Vocational Education Institutes: Vocational education consists of practical courses through which students gain skills and experiences linked to a career of their choice in the future. It helps the students to learn the required skilled and offers better employment opportunities.
According to a survey report, there are two types of vocational trainings available in India – Formal and Informal. Formal vocational training follows a structured training program and leads to certificates, diplomas or degrees, recognised by State/Central Governments. The Informal vocational training is an unregulated sector and helps the students in acquiring some marketable expertise, enabling them to carry out their own business.
The Education Sector holds a bright future for aspirants as people are increasingly becoming conscious of the quality of education. You can always start your own private preschool, K-12 school, college, institute, coaching centre, etc. with the appropriate licenses, or you could opt for a franchising model. Moreover with all the support and training available from the franchisor’s end, taking up a franchise (for a preschool, K-12 school, College, etc.) might prove to be a lucrative opportunity. If you want to start a franchise in education sector in india, this is the right time. Hurry up and fulfill your dreams.