Which is the best education franchise to own?
With well researched plan, a whole lot of opportunities awaits in Education franchise and Edtech startups.
Some of the current constraints faced by education segments are;
- Switching to hybrid learning.
- Children falling behind (learning loss).
- Teacher shortages.
- Travel and safety restrictions.
- Delivering programs to make degrees industry relevant.
Online education delivery is gaining momentum. With time it is bound to get evolve and better organized. New education delivery apps and online learning tools are getting catalyzed. This will certainly show the effect in few years.
Quality learning opportunities and experiences will no longer to restrict to select few only. There are many things franchisors are doing differently to make franchise future ready.
Currently Popular Education Franchise formats
In the last decade, education franchising has evolved and some of the most popular formats are
- Early Education (preschool franchise).
- Coaching and Tutoring Franchise. ( for e.g.JEE(India); Gaokao(China) or Suneung(Korea))
- Training and Skill development (Sales, Nursing, aviation etc.)
New Edtech technologies have started changing the delivery format making participation, counselling and translation in vernacular language much easier.
Emerging trends in Education Franchise
Education came into focus amid global pandemic and the year gone by saw significant investment in developing network infrastructure and edtech innovation.
Most of these innovations are happening towards boosting skills for jobs of future such as artificial intelligence, data analytics, mechatronics, coding, satellite based sciences etc.
Traditional courses in field of healthcare management and automobile repairs etc. are also evolving to make students ready for future such as telemedicine and EVs respectively.
According to report by the World Economic Forum, 42% of the core skills required to perform the job will change in two years. LinkedIn research indicates that jobs in sectors such as finance, digital marketing, content creation, and data analytics targeted at green initiatives such as water reserves, pollution and population levels are on the rise. These trends will remain in priority in 2022.
Education Franchise in India and Edtech companies have taken pro-active approach by aligning more closely with labor market and society. Edtech technology companies are working delivery option most suited to environment. Simultaneously they are also working with education regulators in government on accreditation of emerging courses.
Conclusion:
Innovation in Edtech may be just a simple solution. The technology is helping to overcome barriers and extend the reach of education franchise. Potential to innovate in edtech technologies is limitless.
