Today, there are a significant number of business owners who buy into a franchise instead of establishing a new business model from scratch. Some other franchisees are already small business owners who may wish to venture into something different yet worthwhile. Regardless of which category you fall under, it is important to choose a brand that you feel passionate about. For one thing, this will make you more invested in growing and promoting the brand, which can go a long way toward ensuring long-term success.
So you have decided you want to start an educational franchise. That’s an excellent choice. If you are passionate about shaping young minds and working with children, it may very well be the most rewarding decision you have ever made. However, there are numerous factors you need to consider before deciding on the exact educational franchise to open. Whether you are a risk-taker, risk-averse, or somewhere in between, there’s a franchise out there for you. It’s simply a matter of finding one that aligns with your values, budget, and commitment level. In this guide, we share with you how to get started as an educational franchisee.
What is an Educational Franchise?
In most cases, an educational franchise is a privately run business that operates outside of a traditional school setting. These businesses offer after-school educational programs that help children with English, math, and other subjects. For example, a student may require assistance with improving their reading and writing skills or learning how to think critically when solving math problems. Education franchises develop their own individualized learning programs and do not need to follow the content of a child’s textbook. In some cases, instructors at educational franchises do offer homework assistance.
One of the most common characteristics of education-focused franchisees is that they do not have prior educational experience as teachers or tutors. What education franchisees have is a passion for running their businesses well and hiring an equally dedicated team of instructors and staff members who will help children reach their full potential.
Note: In order to become a JEI franchisee, applicants should have at least a four-year college degree and is a United States citizen or permanent resident (Green Card Holder)
Factors To Consider when Choosing An Educational Franchise Opportunity
There is a vast array of franchise opportunities to be found within the education industry. From daycare centers and enrichment centers to specialized schools for dance and drama, there is no end to the options out there. The question is how to go about selecting one that is right for you in terms of passion and values while also helping you achieve your business goals.
Think ahead to what you want to achieve with franchising: would you like to earn enough to eventually start your own business? Is it more of a hobby than anything else, and will you keep your day job? All these factors will impact your decision.
When choosing a franchise, it is important to consider various practicalities, including:
- Industry and unit growth: Without doubt, there is always a need for educational services. However, the saturation of educational centers and facilities in your chosen location can impact how well your chosen franchise will do.
- Level of support provided by the franchisor: They should provide training and assistance as well as marketing and advertising support.
- Potential earnings: You can get a good estimate by looking at past performance, financial statements and other franchisees’ experiences.
- Honesty and transparency: A good education franchisor should always be happy to answer questions and address any doubts you have as well as provide requested documentation.
Once you have established that the educational franchisor is reliable and able to provide the growth and support you need, it’s time to consider whether it will be a great fit on an individual level. Without further ado, let us share what will make a good franchise opportunity for you:
- Although passion has already been mentioned before, it is worth bringing up again. If the values and mission of the franchisor closely matches that of your own, you are more likely to speak with pride and respect about it and, consequently, invest more time and effort into it.
- A good franchise option for you will be one that offers the level of involvement you are after. Are you looking to take a more hands-on approach as owner/operator? Or are you content with being a figurehead, leaving the running of the business to employees?
- If the above two factors are satisfactory, the last element that will make up a good franchise opportunity is related to budget and future plans. The franchisor should offer growth opportunities that align with your financial goals. Where do you see yourself and your franchise five years from now?
When contemplating the answers to these questions, make sure you have tangible data from the franchisor. If there is a chance to speak with other franchisees, do so. If you can give yourself the all clear after this process, congratulations, you are good to go with your chosen franchise!
What’s Next After Choosing Your Desired Educational Franchise?
After you have found an educational franchise that looks promising, contact the franchisor and request more information about their business model and education-related concepts. For example, potential education franchisees can reach out to the organization’s Franchise Development Team via phone call, email, or an online form submission. An Initial Franchise Packet should be readily provided for aspiring business owners and even parents who are pursuing the entrepreneurial path.
Once you are in contact with the franchisor’s Franchise Development Team, they will assess your interest in the business opportunity and advise you if the territory you seek is still available. A good franchisor should be able to offer opportunities for growth across the U.S. without expecting franchisees to follow strict expansion guidelines or causing them to experience encroachment problems.
Opening a business is a huge commitment so it is important to learn as much as you can about the franchise before signing any paperwork or applying for a loan. It is recommended that you thoroughly view the franchisor’s website information and any Franchise or Parent Guides they send you. Keep notes on details such as initial investment costs, franchise fees, rental or leasing costs, grand opening costs, and more. In addition to the technical aspects of the education franchise, pay attention to how you are treated by members of the corporate office, the relevance of their educational materials, and more.
If possible, request to read your franchisor’s Franchise Disclosure Document (FDD). Every franchise in the U.S. is required to provide these documents. Aspiring educational franchisees can learn the history of the organization, available marketing and business training programs, earnings claims, responsibilities of franchisees, and the royalties and fees they are required to pay.
Reviewing FDDs is a significant part of the research process and helps potential educational franchisees to weed out franchisors that do not measure up.
How To Market Your Educational Franchise
A solid and adaptive marketing strategy is a must for any educational franchise. Although your franchisor takes on a certain amount of marketing themselves, you still need to keep the ball rolling.
Educational franchisees should avoid spreading themselves too thin when it comes to marketing their businesses. Multi-channel marketing for educational franchises works if you have the knowledge, money, and time. In addition, you must be sure that your target audience members are on all of the platforms that you tackle. The truth is that few educational franchisees have the resources to employ a broad marketing strategy, especially when they are just starting out.Let’s say that your main target audience members are parents in the U.S. Research shows that these individuals browse the Internet on a daily basis and visit a variety of social network sites. According to Pew Research Center, Facebook is the most popular social media platform among parents. In addition, U.S. lifestyle websites such as Parents and SheKnows receive millions of visits by mothers. By performing research beforehand, you can identify effective platforms to advertise your educational franchise business.
It is important to note that you should not just focus on pushing leads towards a sale. If you are a JEI franchisee, educate potential customers about your after-school programs and processes (e.g., JEI Math, JEI English, Brain Safari, the JEI Self-Learning Method®, and programmed workbooks). By sharing knowledge, you can nurture your relationships with target audience members and build rapport.
How To Grow Your Educational Business
So your educational franchise is doing well in Minnesota and you wish to expand the business. There are many ways to approach growth, such as invest in a new education center in another city or state or offer more educational programs through your existing learning center. You may have initially started off with providing English educational programs for elementary students. Because of a recent recruitment drive, you have managed to hire new instructors with a different background in education. Depending on your new resources, you can add math and/or literature-based enrichment programs to your list of offerings.
Running a business in a good physical location is only half of the battle. If parents cannot find you online (e.g., Google, Yahoo!, Bing), you might find it challenging to increase your enrollment rates, no matter how great the educational business is. Consider working with an SEO specialist to make sure your educational business appears in local search results. Remember, a strong SEO presence can help your brand build credibility. When you gain a customer’s trust, the customer will not only offer repeat business but also recommend your educational services to family and friends.
Ready to Get Started as an Educational Franchisee?
JEI Learning Center was founded in 1977 in Seoul, South Korea. The JEI Self Learning Method®, which enables students to master concepts in small, easy-to-follow steps, is a self-paced program catered to each student’s individual needs. The first JEI Learning Center in America was established in 1992, with franchises in Canada, Australia, New Zealand, Hong Kong, China and India following. Working on the philosophy that all children have the potential to become talented and creative individuals, JEI Learning Center has since expanded to become a global leader in supplemental education.Named amongst the top 200 franchises by Entrepreneur Magazine in 2018, JEI Learning Center has been recognized for its franchisee support, brand strength, financial strength and stability. Having helped millions of children in eight different countries worldwide, the JEI Advantage provides low costs and great benefits for franchisees such as building multiple revenue streams.If you are interested in learning more about becoming a JEI Learning Center franchisee, send in your application today!