Pre-requisites to Buy a Franchise
Given below are the 8 easy steps to buy a franchise.
1. Shortlist the Prospective Franchisors
To begin with, decide upon the type of school you want to open. For instance, you can consider setting up a playschool, primary school or a formal school. Then, accordingly make a list of all the schools in your neighbourhood that offer franchising opportunities.
2. Determine the Capital Investment
Further, determine the amount of capital investment. The investment pattern will largely depend upon the type of school you want to start. For example, you can start a playschool with Rs. 5-6 lakhs, whereas for a primary school you need to invest approximately Rs. 12-15 lakhs and this amount can reach up to Rs. 2 crores, if you wish to set up a formal 10+2 school.
3. Select a Suitable Location
After you have determined the amount of capital investment, look for a suitable location. The franchisor will help you in the site selection. While selecting the location, ensure that it offers a serene and calm environment apt for setting up a school. Therefore, a residential area with easy transport accessibility is preferred.
4. Acquire Land
The next step is to acquire the land for you school. The franchisor will help you to acquire the desired land. The land requirements will vary depending upon the type of school you want to start. The minimum land requirement for a preschool is 2,000 sq. ft. However, to set up a formal school you will require approximately 1-2 acres of land.
5. Obtain Necessary Documents
It is mandatory to obtain the NOC to purchase the land, failing which you cannot start the construction process. Therefore, the next step is to obtain the No Objection Certificate (NOC) from the State Department of Education. Also, apply for your school’s recognition to the Municipality Authority. You need to present these documents at the time of signing the franchise agreement.
6. Recruit Staff
Next, you need to hire certified and qualified staff for your school. You need to recruit both teaching and non-teaching staff competent enough to handle the operations. For this, conduct interviews in the school premises or consult a placement agency to recruit the suitable candidates.
7. Advertise Your School
Next, make your brand known. For this, the franchisor will help you to implement cost-effective promotional strategies such as distributing flyers and pamphlets, advertising in the T.V. and newspapers etc.
8. Gain Affiliation
The last and the most important thing before setting up a school is to seek affiliation for your school. It is a pre-requisite to get affiliation from a recognized board of education like CBSE or ICSE, because without recognition and affiliation, your school will not be considered to provide quality education.
Hence, the above mentioned are some pre-requisites to buy a school franchise with ease and comfort. Since, it requires an in-depth knowledge and technical know-how in this field, it is advised to join hands with SHEMFORD Futuristic Schools and experience a hassle-free start in the education sector. To begin with, fill the franchise application form given here.