Here’s How Education Industry Changed during the Pandemic
Every nation needs to educate its child population for a better future. Education is a thing that can’t wait or stopped. If we want to get an excellent position globally, we need to have an excellent system for education. Education in India was not very much developed traditionally and so it is now. Students and teachers both lack knowledge in some sectors. Planning and management are still needed to be implemented in the school. Last year when the lockdown was implemented, the whole thing took a chance. People from India were stopped to go outside of their houses and schools were closed for almost a year. Students who need to be cared for and looked after precisely were not in touch with teachers. Early teens also went through the same story. Neither students nor teachers provided their attention to study. Online education caused so many problems for students, teachers and parents. Parents were forced to buy Smartphone in which children started playing games and watch online videos in them. Teachers were very new to these concepts and were failed dramatically. Results were almost the same for the entire school. Learning online and the education system somehow survived. People uniquely took this.
The term ‘ed-tech’ refers to a combination of technology and education. Nowadays, the online learning model is gaining widespread popularity among all age groups. This idea of an online education system has given rise to some big Ed-tech companies. The biggest players in this segment have millions of users worldwide. The idea is straightforward. Brands started providing packages for nearly every type of course, including schooling and degrees. Many big brands came into the market for providing quality education online and which led to a new industry called Ed-tech Industry. People from various backgrounds started investing a lot of money into the Ed-tech sector. Big names like Byju’s, textbook, awing enterprises and doubtnut are some key players in this industry.
In July 2020, the Indian government launched a new education policy for Indian students commonly known as NEP. The new education policy of India focuses on experiential learning and experiential technology to enable the child to realise his potential rather than simply implementing the abilities he possesses. All these aspects will blossom in a personalized experiential learning facility that will be a hub to further science and technology in India.
According to English Jagran’s report, the government allocated INR 99,300 crore for the education sector. They introduced a New Education Policy (NEP) which aims at universalization of education from pre-school to secondary level. In this policy, the government announced that students will not be forced to study any language.
It is further stated that the NEP 2020 also aims to increase the Gross Enrolment Ratio in higher education, including vocational education, from 26.3 per cent (2018) to 50 per cent by 2035. At least 3.5 crore additional seats will be added to higher education institutions.
The education industry has been one of the hardest hit by the recent pandemic. Schools, colleges and universities are struggling with how to regain lost funding and maintain their academic programs. There has been a great deal of focus on how business and industry have changed over the past years. Many people are noticing changes in how the industries operate and interacting with business owners and leaders. This positive change is not gradual—it’s happening at a sprint. Pandemic has shown the need for more focused help and support for businesses, along with concrete steps to facilitate that help. Now it’s upon us how we see it. Thousands of students and parents alike are frustrated with the lack of transparency from federal agencies on how funding decisions are made. These changes have borne a positive effect on the education industry. They created so many business opportunities. Brands that interfered in the education sector (traditional or ed-tech) are looking for expansion and many people started joining them.
Brands started mushrooming in the education business with the help of franchising. Many schools and college opened their branches in needed locations. The franchise sector is flourishing very much. The franchise is considered by those who don’t want to take the risk of establishing a business by putting investment in them. Buying a franchise takes less capital as compared to start-ups. People started moving toward buying franchisees for pioneering brands in the ed-tech sector.
If you are someone having enough amounts to invest in, you can go for the education sector carelessly. Taking an education franchise in a needed area can give you desired profit, fame and a lot of knowledge.