People who are passionate about education and are willing to start their own business can consider a preschool franchise. When compared with other franchise options available, a preschool franchise is considered reliable as the education industry does not get affected by things like recession. But there are various factors that need to be considered while looking for the best preschool franchise in order to earn good profits from your investment. Here are some of those factors:
Initial Investment Required
There are some government regulations you need to follow for setting a preschool and to get itslicense.You should consider few things such as minimum space per child,minimum number of staff members, teacherto student ratio, minimum space required for indoor or outdoor playgrounds, etc. Other than this, you should also consider the rent amount which will depend upon the location and size of the land, that is, if you are not opening the playschool on your own property. You should ensure that you have the budget to pay theinitial franchise fee, rental deposit, the cost of obtaining government approvals, staff salaries, rental charges, commutation cost, furniture, and other infrastructural renovation costs. Moreover, you should also try to know other hidden costs to determine your budget.
Location for your preschool
Location plays a huge factor in deciding the success rate of a preschool. You must ensure that the location has a good number of people living around, is well-connected with easy modes of commutation, reasonable rental rates, etc. Other than this, you should also consider thenumber of other competing schools present in that particular location. The rental rates will also get affected by the location. Hence, you should research about some locations and other demographics before finalizing any particular location. You should also be careful and remember that there are some franchisors who may falsely reassure you about the location in order to seal the deal and collect franchise fees from you as soon as possible. A good franchisor will first try to know about the location and then only move forward to finalize the deal. This is because a reputed franchisor’s aim will be also to expand their franchise business on a good note.
Appointment of staff members and teachers
Teachers are considered the pillar of a school. Chances of enrolment of new students every year and growth of preschool mostly depend upon the quality of education given by the teachers of a school. Parents never want to compromise with the quality of education. And because preschool isthe base of a child’s education, parents are more conscious and strict about the quality.
Appointment of good teachers and staff members helps in word-of-mouth referral among parents, which might lead to new admissions to your preschool. You can talk to your franchisor for this and ask them for recommendations for the teaching staff. You can also ask for their help in advertising for positions, conducting interviews, appointments, salary benchmarking, etc.
Franchisor support
There are many franchisors that readily support their franchisee in setting their preschools and provide all possible support to them. Under this, they support franchises in staff training, operations manuals, site setup, infrastructure management, teacher appointment, and marketing advice, etc. Other than this, you should also ask help from your franchisor to ensure safety in your preschool and provide anenvironment conducive for childrento discover the joy of learning.
Investing in a preschool franchise is a good idea for generating good income but you will have to act wisely and be ready to take risks. You must consider buying one of the best preschool franchise in India to ensure success.