How to Start a Coaching Institute in India
India holds an important place in the global education industry. The country has more than 1.4 million schools with over 227 million students enrolled and more than 36,000 higher education institutes. India has one of the largest higher education systems in the world.
The aim of the government to raise its current gross enrolment ratio to 30 per cent by 2020 will boost the growth of the distance education in India.
The education sector in India is poised to witness major growth in the years to come as India will have world’s largest tertiary-age population and second largest graduate talent pipeline globally by the end of 2020. In FY 2015-16, the education market was worth about US$ 100 billion and is expected to reach US$ 116.4 billion in FY 2016-17.
The CAGR report suggests that there is still a lot of potential for further development in the education system in India.
So for the ones, who wants to try their hands on the business of coaching classes and tutorials, here are the points to keep in mind, if you want to start a successful coaching institute:
1.Determine the subjects:
After a thorough market study, you will be able to figure out what you are going to offer to the customer or students. If you happen to be the master in that subject, then universe has just plucked stars and dropped in your lap.
Or if it contradicts, then it is no rocket science, you just have to hire the right people, who can teach the students well in that very subject.
2.Location for the Institute:
There are specific locations, which are only known for the coaching classes offered. Try to find such locations and rent it out or book your space.
If there is no such locality, then it is to your advantage, now you can choose a location, which is not very far from schools or colleges, so that it will be easier in the part of students as well their teachers and parents to be tension free about their safety and also it will be easier for the parents to keep the academic record of the children from school or colleges and tutorial, both.
Try to begin with a low margin fees, which will attract more and more students. The competition in this business is cut throat, so try to go from the bottom stairs, as it picks up pace, you can increase the amount half yearly or annually.
Some parents, who cannot afford to send their kids to coaching classes due to the high fee rate, thus if you keep the fee charge less in the beginning and later based on the quality and performance, parents would not mind spending for their children’s education.
4.No compromise with quality:
It is a business, which runs on the basis of quality. So there is no room for compromise, when it comes to the quality of education being served.
It is in a way the main link, which will either make or break your brand. People notice the change in their children’s progress report.
5.Advertising and marketing:
Let people know about your business venture through different advertisements and marketing strategies. Social media is the best platform to put the brand across for promotion as half the youth is online, from students to parents till teachers.
Newspaper ads, radio ads and posters too play a vital role in authenticating the brand as well as it keeps reminding them to give a thought to this idea.
Coaching classes are as important as the classroom teachings, to polish the knowledge as well as to learn new things from other teachers as well.
It also feels interesting to sit with same classmates of same school or of different school, in mingling with other students as well as in opening up the doubts, which some fail to open up in front of school teachers.