PLAYSCHOOL FRANCHISE VS STARTING YOUR OWN PLAYSCHOOL!
Investing in the education sector is working out for many these days because it is a profitable business. Preschools have gained a lot of importance,, and they will most likely not go out of trend because of their necessity. People often have doubts about which is better - owning a playschool franchise or starting their own? Well, here is a list of pros and cons for both to help make your decision easier -
Tried and Tested
Owning a franchise means your brand has already earned that respect and reputation in the market. It is a tried and tested model that has a minimal scope of risk.
The brand will definitely have its own goodwill, which is why it will not be difficult to find clients and other aspiring entrepreneurs who want to become franchise holders.
Lower Starting Cost
The franchise of a brand that is already well-known does not require any initial expenditure other than set-up costs.
No or Little Innovation
Upon owning a franchise, there will be very little of your own ideas that you will be able to implement because you will have to strictly adhere to the brand’s pattern and ideas.
In almost every franchise business, the franchisor takes a fixed cut from the franchisee on a monthly/quarterly/annual basis. Apart from that, there are certain other payments throughout the year as well.
Your Own Playschool
Starting your own playschool is a one-time investment and will bring in heavy business and profits if implemented right. Once the operations commence, the profits will be available.
Running your own business (a playschool in this case) implies that you have your own brand and are the sole owner of it. This means that all decisions will pass through you,, and you will have complete control and authority.
Scope for Innovation
Having your own brand means that you have every right to come up with new and innovative ideas that can be used by the school. Furthermore, you do not have to follow any other brand’s structures or formulas.
Starting a new brand means it will take some time to gain goodwill. That comes with proper seasoning and market experience. Besides, the brand will have to compete against others in the market and also build upon trust.
Running your own business means you will have a lot of work because you have to look into everything - meaning - research, planning, development, implementation, finances, etc.
When you launch your business, settling comfortably takes time and for that a lot of legal permits and grants need to be issued. The process can get very complicated and time consuming.
If you are looking for playschool franchise opportunities, then have a look at Kidzee! They are one of the best playschools in the country and their work has earned them a lot of goodwill and reputation. To know more about them, click here!