Reasons for opening an education franchise and which to consider
One of the key aspects of successfully opening a franchise is to make sure you have a degree of expertise in the industry. Aspiring franchisees should think about their strengths and passions and look for franchises that are centered in those areas. To some, the best way to take full advantage of one’s knowledge is to open an education franchise where they can share their knowledge and passion with others — and make some money doing so.
Advantages of Opening an Education Franchise
Education franchises are unique in a few ways which many franchisees could find advantageous. Primarily, there is typically a lower cost to open such a franchise. Some franchises — such as Above Grade Level and Tutor Doctor — teach students in their homes, so franchisees don’t have to worry about the money or time spent opening a location.
Another advantage is that education franchises can be more fun than other types of franchise. Whether tutoring K-12 students or sharing a hobby, most education businesses allow for thinking outside the box and presenting material in novel ways that are more interesting for both student and teacher. Even the branding can be more fun. Mad Science and Young Rembrandts are two franchises that show that having fun with branding can attract both students and franchisees.
Last but certainly not least, an education franchise is a good way to make money. The tutoring and private learning industry is experiencing rapid growth and at current rates is expected to be worth $227.2 billion by 2022. What’s more, paying for additional education is always appealing to parents, whether they are looking to have their children gain an academic advantage, learn a new skill, or find assistance due to a disability.
Sharing a Skill and Getting a Workout
Opening an education franchise simply to educate young minds may be appealing to some, but others are more eager to have the opportunity to take something they are passionate about and turn it into a career. In doing so, not only do franchisees get to impart wisdom, they get to practice their skills every day.
For example, fitness fanatics might consider opening a personal training franchise that allows them to share workouts while also getting a bit of a workout themselves before exercising at the end of the day. GYMGUYZ and Just You Fitness are two personal training franchises that have low entry costs for franchisees.
Additionally, athletes who have excelled at a sport and want to make some extra money can open a coaching franchise that also lets them get some playing time in. Soccer Shots is a popular youth soccer development franchise, whereas Extra Innings offers coaching for baseball and softball. There are additional sports development franchises to explore that teach everything from tennis and golf to football, basketball, and lacrosse.
Training in the Performing Arts
A career in the performing arts is the dream of many people who set foot on a stage, yet the reality is it’s hard to make a living solely as an artist. Many talented artists find themselves looking for extra ways to make a buck. Opening an education franchise is an excellent option for generating income while not surrendering one’s passion.
Actors who are still waiting for their big break or who simply do it for the love of the craft can start a franchise that teaches the dramatic arts. KidStage and Drama Kids are franchises to consider for those who want a career in acting without having to get an agent or a SAG card.
Similarly, musicians who want to keep their skills sharp but don’t want to spend most of the year on the road or simply haven’t scored a record contract or a chair in the civic symphony can look into opening an education franchise. School of Rock allows franchisees and their staff to teach individual lessons and assemble a band of eager youngsters which then performs classic and modern rock hits. Meanwhile, Bach to Rock (as the name implies) caters not only to would-be rockers but also to those with a passion for classical music and instruments.
Finding Your Calling
No matter what your strength is, there are plenty of education franchises to explore and eventually find your niche. From teaching reading, writing, and arithmetic to rocking out with the next Eddie Van Halen, making a career out of doing what you love could be achieved by starting a new franchise.