Education: A Self Enlightenment Venture
As the whole country started reviving from pandemic, several education institutes are planning their expansion. Any entity and or person fulfilling their prerequisites can join and earn big profits for a long time. Providing quality education is not only profitable but helps in nation building as well. As a developing country India needs some institutions that can provide high quality education to the rural and semi urban area.
Why Education as a business
India, as a developing country need to fight some social evils like a criminal offense against women, malnutrition, illiteracy, child labour, poverty, poor health and hygiene, water shortage, corruption, crime rates, gender inequality. These issues can only be conquered by good quality education.
Education not only helps in achieving economic growth but takes us toward sustainability as well. India having 229 million people between 15-24 years requires foremost quality education to make utmost use of this young population. Education can use their power and potential in the most needed manner. Apart from this, Education is the only sector this which didn’t stopped in past two year of this life taking pandemic. Technology made us more self independent and progressive toward education. No matter how worst the situations are, education is only way to make it to the end. Education business did not only survive well in past year but is touching new peaks. People learnt not from face to face classes but use of technology made it simple somewhere.
However it takes some efforts in setting up this business but the earning in the end covers up this hustle. The most common requirement for any education business is as follows.
Space to teach depending on the requirements of franchiser, which can either be rented or personal property.
A good teaching faculty depending on your field and your are good to proceed
Licence or affiliation from the Board of education of your state.
Research to do
Understanding your patrons and market is very important. People with lack of knowledge can never set up a long term business and mostly fail in starting. There are some topics on which you need to do research like:
- What are the existing competitors in the area?
- How do you know they are not sufficient for the demand?
- What unique features of your proposed school distinguish it from others in the market?
- Do you have (or can gather) enough resources.
After knowing the answers of these questions you can move to the next part of your journey.
Any business cannot grow without professionalism. A well trained and mastered staff can take the business to the top or can be responsible for its nose fall. The entire acknowledged name in this niche provides training to their franchisees. In order to maintain the position and name all these institutes help their franchisees to grow. They provide some virtual and physical classes to understand and perform better in this field.
Scopes and categories
There is unlimited number of scopes in this sector. One can learn and get franchisee of some very prestigious institution in some hours and days. Need of quality education doesn’t vary with the area or climate. People are ready to pay every reasonable amount which can give their child a better future. You can start this business from the place you are at right now. Education is one of the most important needs of human life after food and shelter. Understanding the need of good quality education is very important, as it keeps rural area populated and urban area unskilled. Young unemployed people get forced to do some unethical jobs due to lack of education. Education not only gives opportunities but an educated person can create opportunity for others as well. Below are some options to help you out.
Coaching institutes are mostly for preparation of specific exams. A small coaching institute can be started with a small staff of two or three teacher and can be enhanced as per time. Small coaching institutes generally don’t need license or affiliation.
Due to lack of time, students nowadays prefer doing crash courses rather than full long term courses. You can open an institution which provide crash course. Crash courses are some short term alternative for long courses. D Crash course institutes require affiliation from state board and some time from a specific authority.
Pre Primary or Primary Schools
Different from crash courses or coaching institute, opening a school acquire a lot of investment and efforts. You need a big space; comparatively big staff and some paperwork are needed to be done in order to get your school affiliated. Schools are opened in a well furnished infrastructure. A state body is generally allotted to certify the new school. You just need to fulfil their requirement and submit a form for certification. This hustle and investment is totally worth when your school gets certified. People looking for long term business can go for this.
Several market rulers in this sector have also announced to give their franchisee to interested people. This is an option if you are pretty new in this field and want to learn about market. These institutions also provide training to their partners. This is a long term growth in comparatively less investment.
A straight forward Question
A very common question is: What are the chances of getting good returns in this business? If you did proper research in this field and you are able to give the best, no one can beat you. Every business has some chances of failure and that depends on time and situation. Education is changing rapidly from time to time. Education mostly is seen as win-win game in term of business. People choosing education as their business option have minimalistic chance of failure.