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How to Own a School Franchise – 8 Questions to Ask

By Abhishek  Jain In Education Posted On July 24,2019 0 Comments

More and more people are entering the field of education by opening a school in India, and if you too are one of them, then you must open a school franchise rather than a standalone school as former is always a better option. However, before you actually dive in, there are a few questions that you need to ask:

Q1. Which School Franchise Should I Own?

A1. You need to research thoroughly to find out about the available school franchise opportunities, and choose one that best suits you. Consider the franchisor’s years of experience, core management team, support facility, vision, mission, future plans, etc.

Q2. How Much Investment Will Be Required?

A2. You obviously need to know the amount of investment needed to start a school franchise of a particular brand. Do you have that much amount or can you arrange the funding? If the answer is yes, then go ahead with the plan.

Q3. What All Licenses Will Be Needed?

A3. Just signing the franchise agreement is not sufficient; you actually need to acquire a number of licenses from numerous government authorities. Generally, the franchisor helps the franchisee to get the licenses, so find out about it beforehand as getting a license is a daunting task.

Q4. What Is the Franchise Fee Plan?

A4.  For opening a school franchise in India, you need to pay fee to the franchisor, and this generally comprises an initial amount and royalty, which is an ongoing amount paid on the revenue generated on a monthly basis.

Q5. Are There Any Hidden Costs That I Will Have to Pay Later?

A5. This is an extremely important question that you need to ask the franchisor upfront to avoid any inconvenience in the future. Another way to find about it is to talk to other franchises of the brand. Any reputed school franchise India will have a transparent policy with no hidden charges.

Q6. Is There Any Other Branch in the Same Neighbourhood?

A6. Having another franchise of the same brand in the vicinity means more competition and less revenue. Hence, before opening a school franchise, you must talk to the franchisor, and find out about the nearest franchise to your proposed site.

Q7. Is There Uniformity across Branches?

A7. A good brand will always have uniformity across its franchise of schools in India in terms of infrastructure and designing. You must avoid a brand that shows flexibility in this regard as it is merely done to attract more franchisees, which is not a professional approach.

Q8. Is There Any Support Mechanism?

A8. There are so many things that you will have to take care of while starting a school franchise, and the whole process becomes comparatively easy if you have proper guidance and support of the franchisor.

 

You must clarify all your confusions before making the investment, and an easy way of getting all the clarifications is to take help of a reputed school consultant in India like Shri Educare that has requisite experience and expertise in this domain.




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