Along with this comes the desire to achieve a better work/life balance. And despite what you would think, the number of franchise owners is growing. In fact, the industry has grown to £15bn in the UK – a 46% increase in the past ten years!
Like starting a business, franchising is a great way to take control of your success and take on a leadership role. However, franchising offers many solutions to the risks that often come with a new business. And franchises offer the type of security that withstands economic hardships.
First off is the safety that comes in numbers. Franchising offers a much wiser investment than operating on your own because it allows you to tap into a wide support network. So while you are the leader of your franchise, you do not need to do it all on your own. This is one reason that 50% of independent businesses fail in the first few years, while 90% of franchisees report profitability by this time.
Second, well-established franchises have the experience. A proven business model comes equipped with working guidelines for operating. And since the business model is already set up, it minimises the trial and error process. Franchises are already well-known and bring established customer bases with them. And a strong name in the market aids in sales even more, another reason to consider.
A key factor is that a franchise gives you a chance to operate your own business. For those that are willing to put in the hard work, it is a powerful investment. Your time and efforts directly boost your future and success. Franchises also lead to more flexibility with your time. You decide on your work schedule to suit your lifestyle and business goals.
Franchises have become more flexible thanks to their scalable investments. Franchisees can start with just one franchise and invest in more as they grow. Or, invest in multiple franchises right off that bat. This is the true beauty of a franchise – its malleability.
It’s important to get involved in a consistently in-demand industry, in order to have a lasting impact. So why an education franchise? For starters, there is a perpetual demand for education, making it recession-proof. One big reason education is so important is due to the rapidly changing technological factors in the UK. The IT field specifically moves very fast and creates a continuous learning demand. This will continue well into the future, as long as technology brings change.
Another reason for the growth in education comes from changing attitudes about higher education. More and more students are seeking alternatives to university. Students are losing faith in traditional studies, for some careers, as they don’t always guarantee a job. As a result, adult education has the potential for unprecedented growth.
Plus, adult education will remain a constant and even continue to grow. Individuals will always seek more flexible schedules, better pay, and career growth. Reaching this goal requires training and education. While adults seek to fit education into their schedule, flexible learning and online options will take precedence. In fact, the e-learning market is expected to grow by £9.6 billion from 2021 to 2026. Now is the time to get involved with this learning style, because we are at the beginning of a big change in the education experience.
In addition, much of the workforce will need reskilling to keep up with current demands. This indicates that there will be a significant need for adult education in the coming years. Due to demand, the market for adult education is large for private students, with potential extending to corporate training. When you think about education, there are business opportunities everywhere.
And business aspects aren’t even the most appealing part of an education franchise. If you’re searching for a way to truly make a difference in lives, this is it. With higher education, you can change the lives of many in a way that isn’t possible with say, a fast-food franchise. The rewards come not only from growing your business but from the satisfaction of helping someone reach their goals. Entrepreneurs with a philanthropic angle would find a great sense of balance in an education franchise.
There is no better feeling than sharing in the rewarding aspects of education! The cheers and celebration, the high-fives, and sharing of students’ accomplishments. Helping students grow is both fun and rewarding. Plus, there is the excitement of collaborating to innovate education. Education and higher education are alive and growing, and those involved enjoy the opportunity to be a part of it.
While the future can be unpredictable, change is always constant. There is no time like the present to take advantage and take control of your future with an education franchise!
This article comes courtesy of Pitman Training a leading independent training provider, offering world-class office and IT skills in modern training centres to thousands of students across the UK and around the world. As a management franchise, franchise partners don’t need any teaching experience as they recruit a team to support the delivery of self-paced vocational courses, making a real difference in the lives of people in their local areas.
