According to reports, the US Education industry generated around US$ 1.1 trillion in 2020 and is projected to attain revenue of almost US$ 2.3 trillion by 2028. However, it is still not convenient for entrepreneurs who want to become business owners in this industry.

According to experts, starting a business in this industry can be quite complex as businesses in the education industry always have to contend with numerous challenges, and once you don’t have the best product, you are not going anywhere.

Simply put, education franchises are privately run businesses that run outside the school system. There are after school education franchises that help children with math, English, or other subjects. You will also find education franchises that specialize in new disciplines like coding. Some also offer classes for preschool-aged children while some offer adult education.

They all can be great business opportunities as long as you are willing to put in the work. While the education business is one of the most exciting opportunities, have it in mind that starting a business in the industry from the scratch can be complicated and time-consuming, but with low overhead and initial investment fees, a typical education franchise is a lucrative investment to consider in 2022.

Education franchises are also considered recession-proof as parents will always want their children to get the best affordable education. Owing to this steadily increasing demand for education, franchises in the industry are massive and lucrative. Education franchises are also known to have low royalty fees and initial investment.

Benefits of Buying an Education Franchise

Truth be told, the education franchise business remains one of the most exciting opportunities to consider in this modern age. Although franchises are a great way to start a business in the sector, it is still necessary to have a thorough understanding of the pros and cons of owning an education franchise.

  1. Brand Recognition

Parents seek reliable brands when choosing education options for their children. When seeking these options, they will most often consider quality, affordability, prestige, location, and availability. Educational franchises like Sylvan Learning, Huntington Learning Center, Tutor Doctor, Tutoring Club, and Celebree Schools are all top franchises to consider, especially since they have spent many years cultivating their brand and reputation.

  1. Support and Learning Resources for Both Teachers and Students

Education franchises offer a vast range of support and learning resources for both teachers and students. Most often, this includes resources such as different types of courses, books, online materials for you to share with students, and tools and training programs for teachers. They will also aid with marketing, and also make available business training if you are new to the world of franchising.

  1. Aid With Regulations, Permissions, And All the Necessary Paperwork

Note that every education franchise business shares the same goal. Be it an online school, or a brick-and-mortar school, they all strive to provide students with quality and comprehensive education. Don’t forget that the education industry is highly regulated, and regulators love to change their rules regularly.

While this can genuinely be an issue for businesses starting from scratch, your franchisor will always keep you in the loop, make sure you have the right permissions, and also help with all the paperwork when the need arises.

  1. Proven Business Model

You need to understand that franchises flourish because they offer a proven business model. Have it in mind that this saves time for both the founders and the franchisee, especially since you don’t have to bother about trying out new concepts with the possibility of failure.

  1. Breadth and Depth of Market

Education franchises are regarded as one of the most enticing business opportunities in this modern age, operating in a huge market that is growing massively. Indeed, there are numerous opportunities to consider; enough to align with your passion, business acumen, and also let you offer your services to parents and others.

Cons of Buying an Education Franchise

1. Expensive Fees

To benefit from the tested and trusted business model of a franchise, note that franchise fees will have to be paid by franchisees. Royalty fees will also be paid and they are a percentage of the revenue the company makes from its products and services. Although some franchises can be quite cheap, but some have very exorbitant fees.

  1. No Flexibility

As a franchisee, you have to run your business following the franchisor’s guidelines. You’ll be expected to use their materials, their teaching routines, and their marketing. You also have to use their brand name, and every product you sell will have to be the franchisor’s product. For a good number of franchisees, these restrictions don’t cause problems because you bought the franchise because of the brand and its success in the education market.

However, if you love working independently and crave autonomy over what you do and how you do it, then the lack of flexibility could be a massive disadvantage. Note that once you fail to follow the franchisor’s guidelines, it could lead to the termination of the franchise agreement.

Conclusion

Indeed, education franchises provide opportunities for entrepreneurs and professionals who are eager to invest in a profitable business that aligns with their passion. Investment in an education franchise can be a sound business decision. While there are numerous pros to enjoy and benefit from, you also have to make sure you limit the cons. It is always necessary to know what you’re getting into before deciding whether a franchise is right for you or not.