Private Olympiad institutes are suddenly all over the Indian education industry. Gone are the days when a child’s intelligence was determined by the scores he/she got in her tests. Parents are more willing to accept the fact that their marks might not be high but they might have been gifted with unique sets of aptitude. And, those sets of aptitude can be discovered by taking Olympiad examinations, which can help the child in triggering their learning preferences.
Olympiad institutes such as Humming Bird Education Limited are aiding students by introducing them with factual, conceptual, logical, and analytical problem solving skills. With a vast number of students approaching Olympiad examinations like International Mathematics Olympiad (IMO) and National Standard Examinations (NSE), big players in Olympiad training are taking franchising route to reach maximum aspirants.
Olympiad – a New Way to Holistic Learning
Simply put, Olympiad examinations are examinations conducted by various education boards to promote competitive spirits in students and help them gain conceptual understanding of the subjects. These examinations improve students’ problem solving abilities and challenge them to think analytically. These examinations also provide exposure to students at the national as well as international platforms.
With such examinations, students develop a holistic approach towards learning, and hence more and more students are willing to enrol for these examinations. As many students apply for these examinations, it generates demand for coaching in the required subjects, thereby increasing demand for such coaching institutes. This creates a different niche of Olympiad coaching institutes in the education industry.
Business Model
With many students applying for such examinations, Olympiad structured education is the need of the hour. Tougher syllabus, growing competition, and a huge amount of interest in such competitions – all of these together are fuelling the success of Olympiad education franchises. With lucrative business opportunities in Olympiad training, entrepreneurs are exploring new facets in the education industry through giving away franchise opportunities to prospective franchisees to join in the venture. With an average range of investment of Rs 1-10 lakhs, the Olympiad training institutes are inviting franchisees and ensure 100% RoI within 8-12 months.
Different franchising formats such as unit franchises, master franchises area development franchises and many others give education entrepreneurs another arena to explore more in the education industry. With such models, brands can easily expand their reach in tier-I, tier-II and tier-III cities with lesser risks as franchising is a risk-less model. As you penetrate deep inside the local markets where students are keen to gain such holistic learning, the more widely your customer base stretches the stronger you emerge as a bigger player in the market.
Currently, there are a only a handful of brands that have realised the potential of this industry and dominate the whole industry. But with franchising, it is possible for new aspiring people to breakthrough into the market and rule like their own bosses.
