Play school Franchise Vs Starting your own Play school! What is Better?
“An investment in knowledge pays the best interest” well quoted an eminent author, Benjamin Franklin.
And so does it mean. With increasing power of investment along with the scope of profitability, investing in the educational sector is actually flowing with the wave of market trends. Stepping in the shoes of an edupreneur has become a popular vogue with a lot of options to explore available in the market.
Especially talking about the preschool sector, the emergence and expansion of playschools have definitely transformed the lives of a number of people across the stretches of the economy. This implies not only for the young toddlers but also for prospecting edupreneurs looking to entering this arena of education.
Every parent is very vigilant towards the idea of providing the best of preschool education to their kids. Thus, play school is a vital part of the development years of every toddler.
Being an edupreneur, if you’re also looking forward to investing in the play school sector, then you have two roads to be taken,
- First being, starting up your own play school providence brand.
- And second being, buying a play school franchise from an existing preschool education brand.
Both of above-mentioned streams are different in every approach of their existence. Let’s find out more about them and determine which option will stand a better chance!
Starting your own Play school
Setting up your own play school is like growing a fully-fledged plant from a seed. Everything comes from a scratch and needs a whole lot of planning, studies, research, finance, resources, and hardship in abundance. Starting a Montessori learning platform can be lengthy and a challenging process. However, with recent developments, it has become a lucrative option to invest in. There are enormous advantages and disadvantages in starting up a play school of your own. Let’s discuss.
ADVANTAGES
- One time investment
Starting up a preschool may follow handsome rewards and buckets full of profit with just one-time investment. The profits are readily available to reap once the Montessori schools start with its operations and do not require further huge investments prior to any concrete concerns.
- Authoritative Command
When you run a preschool of your own brand, you have the sole authority to mold your ways of working and apply any sort of unique selling propositions to your nursery platform. You can be different at distinctive levels of development and prosper along with the children.
- Independence of Application
Starting your own preschool will help you to innovate in accordance with your ideas and formulate everything as per your plans. You are not liable to follow any sort of formulated plans for curriculum, infrastructure, or any other terms of working.
DISADVANTAGES
- Goodwill takes time
A new Montessori set up will definitely take a long time to groom, prosper, and foster the trust of audiences in a highly competitive market. Thus, establishing goodwill and brand value from a scratch becomes difficult.
- Too much burden
When you run a preschool of your own, you become responsible and accountable for every task on your list. Whether it’s about planning, researching, developing, formulating, marketing, financials, recruiting, training or framing the tasks, all that is required has to be done by self.
- A Chaos for Permits and Grants.
When you’re new to a certain type of market, it becomes a bit difficult for you to settle and take permission and grants from the authorities. Approaching distinctive institutions for the same becomes a time-consuming and tedious task for many.
Play school Franchise
Buying a preschool franchise is quite a convenient and intelligent option to opt for. Whenever a play school brand reaches a certain standard of development, they lend out their operations in different branches knows as franchises. This is done in the exchange of a certain amount of royalty and all the operations across the chain of franchises are maintained as per the franchisor’s standard. This method of starting up a preschool by buying the franchise is very popular nowadays and has gained a lot of limelight in the recent years. By this method, the standardized approach towards play school program helps the brand to reach various parts of the country with uniformity in the operations.
ADVANTAGES
- Tried and Tested Model
The idea of buying a franchise of a play school comes from a tried and tested model of play school business wherein everything has been already planned, executed, and operated in a methodical manner. Thus, everything is operational in a flow with very low risk.
- Thumbs up to Goodwill
A play school brand leasing out franchise will definitely have their own goodwill in the market. This makes it easy for prospecting edupreneurs to survive in the competitive market and avail the benefits of using the goodwill.
- Liberating Initial Costs
The franchise of an already established brand worth does not require any additional initial cost other than the set-up. The promotional costs, administration and miscellaneous costs in the initial stage of setup are liberated to a greater extent.
- Lowered Financial Risks
In accordance with the other business concerns, a play school sector franchising involves less financial risk as the demand for Montessori programs is increasing with the increasing activeness of the population. Thus, there are very less financial risks entailing the same.
- Complete Track of Operations
When you buy a franchise of a play school, you have a perfect layout readily available to follow for a smooth functioning. You can easily keep a track of operations and also see live examples of how it is followed and what has to be done.
- Continuous Support and Training
The play school franchise providers offer various support services starting from the initial set up to running operations after the inauguration period. Plus, there are various training and workshops provided to the teachers and faculty members of the preschool for working in a specified manner.
DISADVANTAGES
- Lack of Self-innovation
When you buy a play school franchise, you will be bound to follow the strictly regulated pattern in your Montessori platform in accordance with the play school brand to maintain the uniformity of the chain. Thus, there is actually no flexibility provided in the basic as well as a complex operation of running a play school franchise.
- Regulated costs
In franchising, the franchisee is liable to pay a fixed amount of royalty to the franchisor, which makes it a monthly, quarterly, or annually regulating cost. Along with this, there are minor operating costs in the long run such as licensing fees, advertising fees, training fees, etc. to be paid to the franchisor from time to time.
What’s Better?
Here, we have formulated a table for a better understanding and comparison.
| S.No. | Points of difference | Starting preschool of your own | Franchising a Preschool (Play School Franchise) |
| 1 | One-Time Investment | Yes | No |
| 2 | Tried and tested model | No | Yes |
| 3 | Complete Support Services | No | Yes |
| 4 | Lower Financial Risk | No | Yes |
| 5 | Flexibility of Working | Yes | No |
| 6 | Goodwill Benefit | No | Yes |
| 7 | Better Operations Management | No | Yes |
| 8 | Higher Competitive Command and Competition Management | No | Yes |
| 9 | Easy Grants and Permits | No | Yes |
| 10. | Readymade Profitable Layout | No | Yes |
In comparison to starting up your own preschool from a point, buying a franchise of an already operating preschool platform is a much better option. If you’re going for a franchise Montessori business, then you will definitely have no worries about the model of the business and will be able to set up the preschool easily. Lower financial risks, less competition, and a readymade profitable layout with a reputed market worth will all be served on a platter. But do remember, that one is required to invest a whole lot of effort in franchising as well as starting a preschool of one. Nothing is as easy as it seems to be!
Every way out will contribute to society in some the other manner. Thus, making a perfect choice is solely under your control.
The choice is yours!
(Also, Read: BENEFITS OF A PRESCHOOL FRANCHISE OVER NON-FRANCHISE SCHOOLS)
0
0
