“An Investment in Knowledge Pays the Best Interest” – Benjamin Franklin
In today’s times, it is clearly evident to witness that education has not only transformed lives but has also offered profitable business opportunities for multiple entrepreneurs.
There can be no other noble profession other than imparting knowledge to young minds of the future.
A toddler’s first day at school, is memorable, where he/she is exposed to the first lesson of what we call ‘Learning’.
Here Are 7 Things You Need to Consider Before Choosing a Playschool Franchise:
Span and Experience
It is very important to know the in and out of a playschool you’re looking forward to working with. Determining the number of years of operation and franchising of the company before going for a franchise tie-up is important.
Since the number of years and the previous franchises can furnish a lot of information for the prospecting franchise holders, thus one should check for the span of operation and franchise experience of the prospecting preschool.
More the number of years of operation, better will be the goodwill and market stability.
Scope of Expansion
It’s good that you’re interested in opening a preschool franchise at first, but it is always better to consider the future expansion options before handing your money to anyone.
Look for a playschool segment that has a chain of following primary, secondary and senior-secondary school segment for children.
Go for a playschool chain that has a scope of further expansion in the near future and does not cut down your pathway to success.
The absolute minimum investment which you need to put into setting up a playschool could be as low as Rs. 6 lakhs to as high as Rs. 20 lakhs, as per the city, the site location of the playschool and the size.
You will be investing this mainly in furniture and décor, games and toys, books and stationery. There will be additional expenses towards paying teachers, maids and security staff.
Then there are costs towards promoting and marketing of your playschool, these costs not necessarily covered in totality by the franchise partner.
Keep in mind that taxes will likely creep in as per government policies.
Don’t forget, too, that you would need to pay a fee to the franchise partner for the brand name and possibly pay the royalty of 15% to 20% on the collection fee.
Some franchise partners also take annual fees for renewal of the franchise.
Get Comfortable with Company Operations
When evaluating a franchising opportunity, you should determine if you are comfortable with the extent to which you can modify operations.
Quite often, franchises have strict rules on how to operate the business — often not allowing innovative franchisees to explore new marketing strategies or product positioning.
Make sure you are comfortable with what you won’t be allowed to change.
Seek Advice from Existing Franchisees
What do the company’s fellow franchisees think? It’s easy to get swept away in the great information the company espouses, but what’s it really like?
I advise every potential franchisor to sit down with someone who has converted and ask him the tough questions. Existing franchisors should be willing to mentor newbies.
Their enthusiasm should be contagious!
How They Treat Their First Franchisees
It is important to track how the original founders of the company have treated their first franchisees to see if it is a right fit for you.
Go and make the personal visit to the first group of franchisees if the company is not willing to let you meet them this is definitely a red flag. Remember, once you sign an agreement it is really hard and expensive to buy yourself out of one.
Check for Proven Systems
When you buy a franchise, you’re buying a proven business model. But if that opportunity doesn’t come with systems that work, then you’ll be flying blind.
There should be systems for everything from payroll and marketing to client services and upsells. You also want to find out if training is included or if you’ll be left to figure out the system on your own.
Cambridge Montessori play school in Delhi is an institution with a vision of bringing about the productive result in the process of learning.
Every drop of water makes an ocean. In the same way, every effort and extra knowledge leads to perfection.
Cambridge Montessori preschool and daycare are dedicated to giving the best possible start to the kids’ school life. Become a part of establishing Cambridge Montessori preschool and daycare franchise in India.
Join hands today and help us make preschool and daycare reachable to more children.
Cambridge Montessori Preschool and daycare has developed an affordable model of the preschool franchise in India on an international level, requiring low investment for the establishment and functioning of the preschool franchise in India, without compromising on the high-quality learning for kids.
Here are the benefits of opting for a franchise at CMPS
- We focus on 100% management on all the running preschools and schools.
- We offer business with low investment.
- We offer best returns on investment in Cambridge Montessori Preschool.
- The most experienced management team in the preschool industry
- We focus on recruitment of best talent and teacher training also.
- Expert support for academic excellence, security, feedback, and accounting.
- We provide franchisees with school management software for training.