How Skill Development Centres Are Making it Big through Franchising
In India, the education system has largely been focusing on the academic performance of a student rather than stressing on the skills that are required to get a job in the actual workplace. As per recent reports, only 34 percent of India’s 5 million graduates are employable in any industry.
The economy of India is facing a challenge to provide vocational training to almost 500 million people by 2022, which can only be overcome by providing as many skill development centres as possible.
To ensure a successful venture of a skill development centre, there are a few educational institutes that are venturing into franchising to reach out to as many students as they can.
According to Care Skills Academy, a pioneer in providing vocational and technical training for repairs of consumer home appliances, solar panels, smartphones, LEDs, air conditioner, HVAC and other appliances, franchises in a skill development centre will get high returns on investment, the advantage of a success-driven business model, detailed operation manuals, setup assistance, training for technicians, and marketing and field assistance. Other than this, the investment amount of big brands like care Skills Academy is a comparatively lower amount, which is Rs 15-20 lakhs for an area of 2000-3500 sq. feet, which is quite feasible. The expected breakeven is of about 8 months.
Franchising for Growth
With over 100 corporate trainers and 500 employee network and a vision to take quality training to all, CRB tech has ventured into franchising. And the support they get through franchise is immensely important to reach out to the target customers. Speaking about the franchise support, A Mandar, Director, CRB Tech Solutions, says, “The franchisee employees will be trained accordingly to CRB’s guidelines, including sales training. For marketing purposes, CRB will provide all the brochures, pamphlets, product notes, and prospectus.” Following a student’s admission, the responsibility of his or her training, assignments and placements will lie with CRB.