Franchise opportunities abound in this day and age; prospective investors on the rise have been looking to spend their money in such a way that it doubles in the near future. With the rapid growth of the preschool market, more people have begun to look in its direction. Preschool franchises have proven to be successful, with most established brands showing immediate success. The preschool market’s growth and success can be tied to many causes, but they boil down to five major reasons. Thus, here’s why the preschool model of franchising is more profitable than the average business model.
A preschool franchise has significantly lower costs than most businesses. This is partly due to the tried and tested model franchisors offer, and the vendors they enlist for transforming the location of the preschool. Both minimize unnecessary cost. Another major part is played by the low cost of preschool materials in general. The smaller size of the equipment needed in general for preschoolers plays another factor in this.
31% of India’s population, or 474 million people, is under the age of 14 years. 158.8 million of that is in the age group of 0-6 years, which amounts to roughly 10.3%. Thus, in theory, a little more than a tenth of the nation’s population can be sent to preschool. This also unveils a factor of demand and supply in the preschool market. As more and more parents are becoming keen on sending their children to preschool, a saturation of the established schools has led to a focus on ensuring a minimal number of students per class for teachers to properly pay attention. Most commonly, preschools adopt a 10:1 child-teacher ratio per class. With the assumption of the sheer number of children that could be sent to preschool, there is a massive franchise opportunity that provides faster, assured returns. The preschool franchise model is highly successful, as a result.
Due to the competitive nature of the market, franchisors provide total support to franchisees to gain an edge over their competitors in securing new partners. From finalising the location to post-launch operations, a franchisee is provided guidance at every stage of the set up process. Furthermore, many franchisors offer post-launch support, including but not limited to regular training and audit, online and offline marketing support, and technical support. This leads to minimal extra spending on the franchisee’s part.
The preschool market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.2% from 2023 to 2028. Similarly, the market size is expected to go from 3.8 billion USD to 7.3 billion USD. With a nearly doubled projected growth in the next five years, the preschool market has huge potential for growth. The more or less certain continuous growth of the market aside, majority of the franchises are focused in small clusters around the nation, providing a largely untapped market everywhere else.
Generally speaking, preschool owners report higher satisfaction with the control they have over their franchise. Moreover, the freedom of curriculum at the preprimary level encourages growth and innovation. These factors combined allow franchisees a high degree of control and freedom over their own franchise.
A potential franchisee not only has a diverse set of options to choose from, with each providing a different pedagogy and set of facilities, they are also provided a comprehensive support system to rely on. A preschool franchise may be a somewhat new idea to work with, but people are quickly catching on to its importance and value.
Bella Mente Schools is India’s first Vedas’ inspired preschool brand , providing a unique curriculum never-before-seen in India and a complete end-to-end support system for franchisees. It was founded with the aim of nurturing young minds for the next generation, and raising visionaries for the future. Touted the modern gurukul of India, Bella Mente Schools is a strong choice for those who want to embrace old tradition with new culture, and history with modernity.