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Education – An Attractive and Lucrative Business

Posted by on November 14, 2019 in Business with 0 Comments

Today we use technology to fertilise, birth the baby, baby’s growth and nurturing, education and career. New entrepreneurs are coming up with innovative technologies, schemes and startups for business. Education field is turning out to be the easiest of all business. We have  JEE, BITSAT, CET, NEET,  JIPMER, CAT , GATE Exam  are mandatory to pursue higher education in good universities.

In the education life cycle of primary-middle-secondary-graduate-postgraduate,  study abroad also had become a phase due to the demand and interest seen in the students. And so we have got various coaching centres for IELTS and TOFEL  and lot of consultancies are there to guide the students.

Planning:

For any business to be successful, you need to have a good idea of what you are going to do and proper planning of how you are going to do it. You need to make a firm decision on whether you want to franchise or start  your own learning centre. There is a growing demand for International schools as parents want to get into International schools in the very young age. Technological courses and specialised courses are on high demand as the corporate is in need of skilled professionals. Medical sectors are also rejigging to meet the needs of the people. E-learning and Distance learning are also gaining more popularity among the students and working professionals. So proper planning to be done on which area to invest.

Resources:

Today children and parents are very smart and they look for each and every detail in microscopic to macroscopic level. They check for the curriculum, infrastructure, potential of teachers, sport activities, compare fees and they analyse the benefits to get into the learning centre. So any education institution should have a proper goal with mission and a very transparent system where parents and students get to know all the details and get satisfied. Any learning centre you set up a proper infrastructure with clean and hygienic amenities should be there. The next and most important thing is to have efficient instructors who is skilled in the field. Again there should be way for extra curricular activities in case of formal education sectors.

Funding:

Getting the fund required for the business is something which is a very crucial. Major funding required for the education sector is to acquire the land and build the infrastructure. And then to scale up the operation as wide as possible. You can get the fund from investors or lenders. Banks like HDFC had allocated investment of 100 crores for the education sector. Government is also taking many initiatives to improve the educational sectors and ready to invest huge amount. Government’s Public Private Partnership (PPP) is a good source of funding. Other fundings are done when Government pays their tuition fees of the students or give scholarships to the students.

Marketing:

When comes to business, marketing plays a major role. Merely getting a franchise or establishing an education firm won’t bring any revenue as nobody knows it. You have to reach out the potential customers through marketing. Marketing add value to the brand as well as bring revenue to the firm.Marketing for education should be done in both traditional print media as well as in modern social media to reach out to more number of people. The first success in marketing is making your brand known and the next is to sustain the brand. So proper designing of marketing strategy with proper implementation should be done in an appropriate time. promotions like introductory offer, earn while learn attract the customers.

Conclusion:

Education is an evergreen field for investment as we have formal education with schools and colleges and informal education with various preschools, coaching centres and vocational institutes.  Coaching centres are getting lakhs of turnover as most of the students look for higher studies with CAT or GATE exam and to go abroad cracking the IELTS. If you can make a difference in the life of an aspiring student and guide their dreams with proper investments, you will reap the investments. Education field had become the most favourable business domain as it offers multiple benefits.

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