How To Setup An Education Franchise in India?
A few facts and numbers might surprise you, but do you know that almost 140 million students are left out to for education in our country?
The country is enrolling 220 million children each year. According to a general study conducted, India currently needs at least 200,000 schools more, just in the higher education side.
Other than this, the country also needs 1500 universities or colleges to support the youth of our country.
This is the right time if you have planned anything of opening up a new educational franchise in India.
There is a huge market open to private players to up the standards in not only creating the volumes but in also helping to improve the overall quality of education.
Setting it Up
It is a very difficult task to start one franchise in India. There are many things that are to be kept in mind before one actually starts to plan out things.
If you have planned to open a private educational startup then you will have to register with one such society or trustee.
A private party can also establish a company as prescribed by Section 25 of the Companies Act 1956.
Also, at the time of the formation of a school trust or society, a clear Memorandum of Association should be in place. This is all done to make the school a not-for-profit making institution.
Above all this, there are requisite licenses and permissions to be taken from relevant authorities. If one decides to create a trust or society, the body must have a minimum of five to six members that comprises a governing board.
The board will then have to appoint a president, secretary, and a chairman, preferably declared and announced officially so that it is well known in society.
Permissions and Licenses
The various permissions and licenses that are required for opening up a new school, apart from the various water and electricity usage permission, are:
- No Objection Certificate (NOC): The NOC is granted keeping in mind the proximity and physical viability of the school to the existing educational institutions if any. Additionally, a member of the governing body of such a trust can also convert his or her own land for the educational purpose, by again, applying for a requisite NOC.
- If you wish to start a primary school only, then permission from the municipality is the only prerequisite you need. However, for a secondary and (Classes 6-8) senior secondary school (Classes 9-12), proper consent has to be taken by the Department of Education. Approval for the latter only happens after the successful completion of two tenures of the school as a primary school.
Affiliations and Other Formalities
The details of the sale and purchase of the land and construction of the building, water certificates, hygiene certificates, auditor’s statements as and when they happen, bank statements of governing body and the members and completion of building certificates, to name a few.
Know Your Geographical Area
You need to know the dynamics of your geographical area. You need to study your nearby market and competitors in the vicinity of your school.
This will help you to know the USP of your institution and will also make you aware of what things are to be kept in mind while setting up things for your school.
Check Your Resources
Study your competitors properly. Observe them. See what the demand is and then work accordingly.
Be there as it grows: As your business grows, you might decide to hire experienced teachers. However, never lose contact with the client.
Let the customer know that you are approachable. Make a one to one contact with your team. This will help your institution grow together in all aspects.