Mumbai based Career counselling startup, Brainwonders, is renowned for its usage of DMIT technology for determining careers.
Manish Naidu was impressed with the rich academic and corporate culture of Mumbai, and that’s what motivated him to initiate his entrepreneurial journey there and it now serves as the home ground.
Brainwonders’ first client base was developed with parents, who discussed their queries with Naidu, and he shared his experience of DMIT with them and that is how the story started. Soon, the parents’ reviews of their services reached the Educators themselves and the brand associated with MISA in February 2017- that is how their institutional connects prospered.
In an exclusive conversation with Franchise India, Manish Naidu, Owner/MD, Brainwonders, talks about career counselling market in India, his journey, brand growth and future plans.
Factors propelling the growth of career counselling market
The Education and Development industry is an evergreen sector. Right from playschool to retirement- one always looks forward to future development. This can be in the form of personal, economic, social or professional development. Thus, our career counselling services always have clients at both retail and institutional levels- and we ensure that our quality-oriented services help them set and achieve goals.
Impact on Technology in the Career Counseling Market
In today’s digital era, students are visiting far off places such as Machu Picchu, the Great Barrier Reef, and other locations without ever leaving the classroom. Technology has the potential to accelerate, amplify, and expand the impact of powerful principles of learning.
Naidu explained the impact of technology, in three words: Awareness, Accessibility and Affordability. “The digital revolution has motivated us to revamp our psychometric assessments and ensure that everyone reaps the benefit of the same right at the tips of their fingers. Also, as previously stated- we have also updated our data security programme for DMIT to safeguard not only client data but their identity as well,” added, Naidu.
Hurdles in the Journey
Unfortunately, there are a few ‘professionals’ who give the assessment a bad name. Assessments like psychometric tests and DMIT are often seen as something which is very intrusive and to is taken only in case there is a problem with the child’s development or behaviour. It often indicates towards labelling and categorisation of certain traits of the child. However, this is far from the truth. A test or an assessment is directed towards further growth and development and is a wholesome and fruitful experience when done right.
Overcoming the Obstacles
It is Brainwonders’ U.S. patented Counselling concept with DMIT that has ensured that assessment and counselling a giant leap. The great aspect of understanding ALL aspects of using one scientific assessment has been magnanimous growth. Also, it is efficiently backed by decades of research by Prof Lin and also has a U.S. Patent to add to its name. Brainwonders is well renowned for their team of experienced and certified counsellors to add to the value of the whole DMIT process. The tool uses brain mapping technology which uses biometric fingerprint to give a wholesome profile of the individual:
Thus, the person gets their comprehensive profile without any human error and saves on time too. It in fact is a powerful tool used by corporates and educators alike irrespective of any limitations of age, language, social and economic background and other factors. Brainwonders’ team ensures that the process of testing and counselling is an enriching experience to push the growth of all.
Changes in Consumer Behaviour Pattern
Initially, most of the clients of Brainwonders belonged to high school and the focus was mostly on selecting the right subjects/ courses. However, now the awareness of the same has grown as a preventive as well as management-oriented reports and thus- today they have a vast base of happy customers from all walks of life. DMIT caters to requirements all age groups irrespective of any social background:
Experiencing Rapid Growth
Over the past 5 years, Brainwonders growth has been exponential. Apart from the schools, we have expanded to 108+ franchises as well. Thus, the whole growth story has been phenomenal.
Franchise model
Brainwonders’ franchise modules work in two ways, area franchise and the other is a master franchise. Area franchise would be someone who wants to have area rights and the master franchise would be someone who wants to have a huge territorial right and inspire to have franchisees under them.
The brand will offer the franchise rights to anyone with the passion to enter the education sector and wanting to make a difference is the right bet for the franchise. The startup cost for a unit franchise will be anywhere from INR 5 lacs to 25 lacs.
The operational cost will be for counsellor and a small working place. So, minimum INR 50 k to 1 Lac per month will be the operational expense for an area franchise and works out to less than INR 6 lacs for a master franchise. But the best part is the returns are more than 300% after the first year.
High Revenues & Margins
Brainwonders’ franchises have various options as they provide varied services which they charge for:
Apart from retail prices as mentioned below, they also have several institutional packages.
DMIT: INR 5000+GST
IQ TEST: INR 1500+GST
INTEREST TEST: INR 2500+GST
CLINICAL PERSONALITY TEST: INR 3500+GST
CAREER TEST PACKAGE: INR 4000+GST
WORKSHOPS AND SEMINARS: INR 500 to 2000+GST (per participant)
Future expansion plans
All the development of Brainwonders’ initiatives aligns with their vision: To Provide the Best Career Guidance to all.
In fact, they have focussed this year on expansion across Tier 2 and Tier 3 cities to cater to the increasing demand for career counselling and professional guidance. The first phase was completed in April 2019 with the following centres beginning their operations:
Phase 2 and Phase 3 will also culminate this year with 70 new centres. Apart from these, Brainwonders is already present in 108 locations.
