Becoming an English language franchisee can be a good choice or a bad choice depending upon your interest in teaching, financial and managerial capabilities, the location of the education franchisee, quality of teachers and your life goals. Before becoming a franchisee of an English language institute, it would be wise to ponder over the points below
1.Buy or Lease
Even if you have sufficient capital to buy space for your education center, consider both renting and buying before making a decision. Purchasing a new institute will require a certain percentage of down payment at the beginning. The amount varies from company to company and largely depends upon the popularity of the brand, the location of the franchisee and the size of the new institute.
Buying can be a good choice if you already have experience in running an education franchisee or if you believe the purchase to be an investment that will only grow. If you decide to lease, each education franchise will have their own terms about how much rent you will need to pay every month
2. Initial Investment Costs
Whether you decide to buy or lease, you will need to invest in the business. Every education franchise charges different costs based on the location, space of the institute, and the popularity of their brand.
Along with the initial investment cost, you also need to consider other costs such as cost of signs, seating, décor and equipment, inventory, recruitment and opening expenses. These costs can increase the initial investment. In fact, it is the location of the institute that is of primary importance in determining the initial investment. Depending upon the location, the initial investment can vary considerably
3. Support from the Franchisor
Support varies based on how big the franchisor brand is, its financial strength and organizational culture. However, every franchisor has an obligation to provide support that is included in the contract. Usually, the franchisor provides guidelines and support in the following areas: finding a good location for the franchisee, providing initial training in operations, offering help in marketing, and giving guidelines on running everyday operations. Apart from this basic support, the franchisor may also provide assistance in gaining required permits and licenses.
For an English language franchisee, support can also include receiving training and course materials, access to qualified teachers, ongoing quality control and guidance manuals regarding operations. A franchisee can, with sufficient support from the franchisor, find early success without facing roadblocks
4. Advantages of Being a Franchisee
A franchise owner, as soon as s/he begins the business, operates a well-known brand. That provides a huge advantage in gaining students right from the beginning. The support provided by a franchisor can go a long way in ensuring the success of the business. As the franchisor already has effective systems in place, the franchisee only needs to follow them. Due to the comparative ease of doing a franchisee business, franchisee owners can manage more than one franchisee of the same franchisor to multiply their profits.
Owning your own English language institute can become the first step to a flourishing business in education. But before you take that first step, consider how the business matches with your resources, goals and capabilities, and you’ll find yourself making the right choice.