How to Franchise a School in India?
To the reader we must say that the articles you will read are meant to give a fair idea about franchising and will particularly help to know as how to franchise a school in India.. As you must have noticed the ideas have been represented from a franchisor’s point of view and primarily concerns the proposition of taking up a franchisee. In this article we aim to elucidate information about franchising a school and therefore would be addressing to those likely to become school franchisors.
Franchising is in essence a commercial idea to expand business by allowing a kind of partnership. If you want to franchise products or any service, you must have in hand a working model of the business and good reputation in the market.
Franchising a School in India
An owner or administrator who has the proprietary rights of a school unit can franchise a school in India in the same manner. This may be done for two reasons:
1)Opening of new branches and therefore expansion
2)More coverage in terms of increased units
There is no doubt that the brand that intends to franchise a school in India does have commercial interests. But such interests are lesser in terms of monetary profit and more of adding value to the brand. A good example of it is the preschool chains. When a preschool chain opens a new branch its primary purpose is to extend the services to different parts of the country.
How to begin?
Ideally, the brand of school that aspires to franchise the units must have a reputation and popularity in any particular area that investors and entrepreneurs would themselves be seeking an alliance with the brand. However, lack of awareness, makes it unavoidable to market your brand of school. Therefore, the first step would be to advertise about your school and let people know that you are offering franchise opportunities.
The second step, which has to be formulated even before the process begins, is to fix the royalty and franchise fee and the corresponding support that would be provided.
Royalty and Support Services
One thing worth noting is that the recurring royalty that is to be paid by the franchisee is unlike tax or anything like that. The royalty is like a fee to be paid for the promotion of the brand, for the assistance and support services and for overall value additions made to the brand.
Entering into a Contract
Once everything has been provided to the discretion of the franchisee and an understanding is arrived at, a legal contract that puts down the obligations of franchisee and franchisor is signed.
This is how school brand can be franchised. There are many ways of going for the intermediate steps, like finding suitable people who can be good franchisees. Different organisations or franchisor follow different approaches, but the overall process remains the same.