School and College Supply Business: A Sure-shot Opportunity for Entrepreneurs
Who doesn't want to own and run a stable business, especially when the competition is getting stiffer with every passing day?
For all such entrepreneurs, a school or office supply business is a great option since this is as stable as a food business. In fact, this is one great business opportunity as students and offices will continue to consume supplies, even at the time of recession. Moreover, the products sold are perishable, which again makes it a worthy investment opportunity for budding entrepreneurs.
Schools and colleges require a wide array of education-based supplies and equipment, which are necessary for running the organisation. Franchisors and franchisees through their school/college supply business could fulfill the demands of students and teachers by supplying binders to book covers, pencils, pens, and rulers.
In fact with technology playing an upper hand in the education industry, one could also supply all sorts of software for educational institutions for enhancing their overall structures. The software could be beneficial for teaching as well as for the accounts and academic departments.
Franchising: Organising the Unorganised Sector
This segment has been operating in an unorganised manner for a long time now. But the growing popularity of franchising within the country is now transforming the scenario of the school and college supply business.
Entrepreneurs can be seen approaching for the franchise-based business model, later inviting potential franchisees to grow and expand their businesses.
For example, Alp Turnkey Solutions is offering all sorts of essential software for institutes like school SMS & ERP, College ERP, and website development. The franchise is available at a cost of around INR 2-5 lakhs with an area requirement of 200-500 sq ft.
The Role of a School/College Supply Firm's Owner
It is, in general, recommended to understand the responsibility well while running a specific business. Often firms, whose owners have little or no idea about what they are supposed to do at their firms while operating their businesses, tend to fail.
As a school/college supply company’s owner, you need to do almost everything from researching supplies with their various price points and popularity etc, to ordering them and taking delivery after the requisite checks. Additionally, pricing inventory, positioning inventory for sale, delegating duties to employees, handling payroll, and marketing the business are some other crucial roles that need to be played effectively as it will result in how your firm behaves in near future.
Schools and Colleges are only going to Grow
One of the major reasons why this is an evergreen business is due to the fact that schools and colleges will continue to operate and grow, no matter what the situation in the country is. According to the Ministry of Human Resource Development (MHRD) data, there are almost 1.3 million schools in India, which is a huge number in itself.
Especially through franchising, franchisors/franchisees could collaborate with a lot of operating schools and colleges, signing a contract for providing all the necessary equipment and supplies timely to the institutions.
Also, as the enrolment process in schools and colleges will continue to grow, especially in the higher education sector, opportunities are immense for a school/college supply franchisor/franchisee.
Therefore, if you are passionate about education and are willing to serve in this industry as an entrepreneur, running a school/college supply franchise could be the best option.