Reasons why this Might be the Right Time to Invest in a BPO Training Business
Any city in today's time has many BPOs/call center companies that are operating 24/7— day and night through different shifts. These firms have eventually created a lot of employment for the Indian population, which is willing to earn a good amount of money by assisting customers.
In fact, as per a report, the BPO and IT sector recorded the highest number of increase in employment in the first three quarters of 2018. This statistic could mean a lot to aspiring entrepreneurs that are willing to start a BPO/Call center related training business.
There are multiple processes in which outsourcing to India takes place including software development, call center process, backend services, and recruitment processes to name a few. Call center outsourcing is the biggest vertical that has changed the face of India as the economy.
The Growing Demand for Quality Training
Training is now a mandatory element in almost every sector that entrepreneurs are now looking to target. Different companies are demanding well-educated and trained employees that can take their businesses to another level, bringing in profits and increased sales.
Thus, if you are looking out for an opportunity to become a successful entrepreneur, it might be the right time to invest in a BPO/call center related training business. Your target audience will be the people that are looking for quality training that could nurture their talent and skills as an individual.
Since both—the currently working and aspiring employees—can be your target audience, there is a large scope to do well in this segment, particularly when the country is a hub for both the international and national BPO's and call centers.
What needs to be done at the Training Business?
Starting a customer service training business will allow you to teach valuable skills, and help companies and employees reach their potential. Customer service is the backbone of every business, but some companies do not have the time, staff or information necessary for proper training.
As a customer service trainer, you can fill this need while making money and setting your hours. Aside from public speaking and presentation abilities, modest equipment investment and marketing efforts are all that is needed to keep your new training business running successfully in modern time.
North East BPO Promotion Scheme – Part of the Digital India Initiative
The Indian government has allocated Rs 50 crore for the implementation of its new scheme which is envisioned with Digital India initiative. This scheme is expected to provide monetary support to companies that are aiming to start a BPO/call center business in north-eastern regions of India.
Through this initiative, the government is aiming to create numerous employment opportunities for youths residing in such regions. The eight states which are part of this initiative are Arunachal Pradesh, Mizoram, Assam, Nagaland, Sikkim, Tripura, Meghalaya, and Manipur.
While the Indian government is working hard towards creating employment for the youth of India, it is important to start training such youth, and one way could be through your BPO/call center training firm, to make them ready and confident for future opportunities in this particular sector. You could enhance their skills, educate them about the basics of the industry along with enhancing their communication skills, all of which which are of utmost importance.
The Boom of BPOs in Rural India
Gone are those days when the Indian rural regions were confined only to traditional occupations like farming, leather works, and weaving. The rise of BPOs and call centers in the past recent years has provided a myriad of opportunities to the rural population along with the investors.
The major benefits of establishing a call center in an Indian village are extremely reasonable property prices, which do not burn a hole in pockets of entrepreneurs; and the workforce that is not only educated well today, they are ready to work at lower wages.
Since this segment is expanding its footprints in both rural and urban areas of the country, operating a BPO/call center training business might be the greatest idea in the current time. Looking at how the things are reshaping within this industry, it is all set to boom in the upcoming time, eventually increasing the demand for a quality training institute in India.
Even the BPO/Call center training sector is not left out with the concept of franchising. Numerous brands are operating through a franchise-based model and doing well—both in terms of expanding their business and making profits.
For example, Winning Ways and Zentex are two BPO training franchise brands which are currently operating in India. These firms are providing courses like spoken English, sales training, and BPO/Call center training which is eventually gaining popularity.
Their franchises are available at an investment around INR 2-5 lakhs where you need to have an area around 300-1200 sq ft. The anticipated percentage return on investment is believed to be around 35 per cent, which is a great take away, both as an entrepreneur and as a training firm.