The education franchise is rapidly becoming as renowned as a restaurant or services business, with franchise owners flocking to this children-centric space to deliver best in class education via a professional tutoring service, school franchise, or other concept focused on improving study skills and social skills.
The education industry is seeing consistent, exciting growth. Millions of parents around the globe are eager to give their children the best possible start in life, and they’re turning to the franchises that can fulfill their child’s full potential. Franchises like Helen Doron Educational Group, which has been delivering pedagogic services for over 35 years, or Kumon Education, which provides bespoke math and English tuition to cater to a student’s needs.
This is far from just an American priority; in the U.K., nearly 27 per cent of schoolchildren were estimated to turn to the services of a private tutor in 2018, according to a survey by the Sutton Trust charity. In dense, urban areas, like London, this figure rises to roughly 44 per cent. In the U.K. alone, the private tutoring industry is worth over £6bn (roughly $7.4bn).
Opening a franchise business in the education franchise sector could be a very smart choice for the right kind of entrepreneur, so we’ve put together this comprehensive guide that will allow you to deliver exceptional services for students while also building a career of your own.
What is education franchising?
As we’re seeing with many other industries in franchising, the education sector is brimming with successful competitors all vying for the attention of parents looking to better their children’s education.
Established operators like The Goddard School franchise have been around for several decades, bringing educational services to children of all ages. They prioritize a beneficial and fun experience for children, and ensure that a nurturing environment is available at all times.
On the other end of the spectrum, you’ve got emerging concepts like iCode School; a Dallas-based coding franchise preparing kids for the tech-fueled future. As well as improving math skills and motor skills, concepts like iCode deliver unique learning experiences that you simply wouldn’t find at more traditional operators.
“The students we have right now could be in jobs in their twenties that don’t even exist yet,” said Jeff King, CEO of sustainability-focused education franchise MUSE Global. “We’re teaching kids who may never drive a car, who may never see a live person at a grocery store or hotel, and who may never see a live truck driver on the road.”
Either way, today’s biggest education franchise brands set out to provide a holistic learning experience; one that takes concepts beyond the classroom and sets students up for lifelong learning. They enrich the lives of children, making this kind of business opportunity a perfect one for entrepreneurs looking to make a difference, as well as making a profit.
How to open your own education franchise center
The cost and process of opening an education franchise can vary massively, with the initial investment, franchisee training, and type of franchise model changing depending on which brand you choose to align yourself with.
Let’s take a look at the School of Rock franchise: the popular musical education opportunity that inspired the Jack Black movie of the same name. When it comes to working out the School of Rock cost, this can vary depending on if you’re looking to become a master developer, or just open an individual unit.
For master development, the investment range sits at over $1.5m, with minimum required capital of at least $1m. But with 290 locations across North and South America, Taiwan, Spain, and Australia, you know that you’re signing up to a franchise program with experience and numerous case studies to back up that cost.
For individual units, opening this kind of school franchise could set you back between $322,000 – $521,000, which is comprised of everything from furnishings and fittings, to permits and licenses.
Prospective franchisees for School of Rock don’t necessarily need education experience, but the brand is looking for investors who don’t mind being around children – after all, they will make up the majority of your clientele. Behind a solid business plan and marketing plan, a passion for children is something you’ll find across many education brand’s requirements; the desire to make a quick buck isn’t at the top of what operators in this space are looking for.
Which education franchise is best?
Beyond the financial requirements like the initial franchise fee and necessary liquid capital, discerning which education franchise is best for you comes down to personal preference.
If you’re looking to open a more traditional education opportunity, then something like a Huntington Learning Center could be the perfect fit. The Huntington education is created to provide tutoring to K-12 students, and prepares them for the SAT, ACT, AP, and other important exams.
If you’re driven by something a little more tech-focused, then the COMPUCHILD technology education could be more suitable. Based across the U.S. and Canada, COMPUCHILD delivers holistic technology education to familiarize children with skills such as entrepreneurship, finance, and communication – to name a few.
There are many types of child education franchise, and only you can determine which model is suited to your financial needs and goals. But one thing’s for certain: if you’re looking to make a difference while also making a recurring form of revenue, then this could be the perfect sector for your franchising journey.
