To set up your own school, when organisations have already spent crores of rupees and years of research on perfecting their school system, is irrational. By signing up a franchise, you get a readymade and proven system as opposed to creating a system all over again by hit and trial.
Years of experience: The number of years a company has been operating and franchising is very important to judge its previous track record. Since you are paying for the goodwill, when you join a system, the more the number of years in the industry, the more the students and alumni- the better it is!
Background of the management: The vision, mission, goal & objectives of the organisation are driven by the top management; therefore, before making the decision, research about the promoters as you would not want to deal with the inexperienced ones. It is important to choose a company where the management is actively involved and transparent enough to meet and listen.
Quality of the system: Use your time in researching about the company- both online and offline. Social media these days is a powerful weapon for conducting any kind of research. Try and research about the philosophy of the school curriculum.
School design: Some brands tend to have no uniformity in the infrastructure and design of their school branches and are mostly concerned with quantity rather than quality and therefore need to be eluded. Do a Google image search of the schools to see how attractive the interiors are, since you shall be paying for the same- so you should know how your school will turn out for the investment you make. Recruitment & training: Teachers are the backbone of any educational institution — ask in detail about the assistance provided in teacher recruitment. Also, enquire about the trainings given by the head office as any quality institution will offer both, online and on-site trainings.
Technology: Any organisation with a better understanding of technology will have a sure shot advance in the coming years, over those that do not understand technology- therefore, it is imperative that the system you sign up with, has a technology backbone to manage and communicate.
Option for Updgradation: The brand you tie up with should have pre-school, primary school and 10+2 franchise packages if you may want to upgrade your preschool to a primary and 10+2 school.
Hidden Costs: Many franchisors get the franchisees to purchase the setup kit and customised products such as books, uniform, stationery, etc., from the franchisor itself. Therefore, one should enquire about the market price of the contents of the kit and ask the franchisor about the option of buying the same from the market after considering the price.
Additional charges: Many brands charge an agreement renewal fee or royalty on after-school activities. Therefore, negotiate with the franchisor.
Distance between branches: You would not want to end up a situation where you find another franchise of the same brand in your vicinity, thereby leading to competition with another franchisee.
The writer is Amol Arora, VC & MD, Shemrock & Shemford Group of Schools