Flourishing Business Ideas for Businessmen in Education Sector
The Indian education market is expected to almost double to $180 billion by 2020, buoyed by the rapid expansion of the digital learning market and the world’s largest population in the age bracket of six to 17 years even as the sector continues to be plagued by poor infrastructure and a shortage of trained teachers.
The Indian education market is one of the most promising markets now and is going to swell in the future. The adoption of technology in this sector has opened flood gates of opportunities for the entrepreneurs, businessman and start ups to get their roots firmed in the business.
Here is a list of opportunities for the edupreneurs and businessman in the education sector in India:
Daycare/ crèche/ pre-school:
Market research analysts at Technavio have predicted that the preschool or child care market in India will grow impressively during the forecast period and will also post a CAGR of almost 22% by 2020.
Parents’ concern and awareness has opened windows for the business opportunities for the pre-school and playschool sector in India.
Especially the working parents, who cannot afford to spend enough time with their children, opt for daycare or playschools.
Private tutorial service:
According to Global Industry Analysts, the global private tutoring market is projected to surpass $102.8 billion by 2018. The mentoring industry existing in India has had a record growth of almost 35% in the last five-six years.
The competition in education field has out passed the fight for survival, this forever growing anxiety of children as well as their parents, have let a space, for the private tutorials to grow their business.
Open e-library/ e-book club:
TechNavio's analysts forecast the Global E-book market to grow at a CAGR of 17.40 percent over the period 2014-2019.
Technology has spread its roots in every nook and corner of business, leaving no room for old schools techniques or outdated modes of learning.
E-book has opened gates of opportunities for owners of e-library and e-book clubs because knowledge knows no limits and everyone is equally curious to know anything and everything available under the sun.
Skill development /Training school:
India and Germany have signed an agreement on vocational education and skill development with a budget of US$ 3.37 million, which will help create and improve cooperative workplace-based vocational training in India’s industrial clusters.
The Government of India has allocated around Rs 17,000 crore (US$ 2.55 billion) towards skilling, employment generation, and providing livelihood to millions of youth, in order to boost the Skill India Mission.
Preparing the future generation for their career opportunities is another field, where the edupreneurs can make a lot of business.
Educational tours for school children:
This field is very new and not many have explored the opportunity yet. For the aspiring edupreneurs and businessmen, this is going to create revolution as the education is not limited to classroom teaching and there is a vast field waiting in the educational tour industry.
It is time for edupreneurs to pull their socks up and tighten their shoe laces and explore the world wide field of opportunities of the educational sector in India.