How to Set Up Your Preschool – Common Questions
Setting up a preschool in India is not an easy task, but it is not that tough even.
Do you have any plans to set up your own preschool? Do you want to have answers to your unsolved queries? Be it planning, expenses or promotions, find answers to all of your questions below.
- Is investing in education industry a right decision for me?
It is. But think twice before finalizing education industry as your target. It is an industry with high returns but calls for higher dedication and commitment levels. Although having a prior experience in the industry can prove to be of a big advantage.
- Should I establish my own preschool brand or should I opt for a preschool franchise business model?
Choice is yours. Both the business models have their own benefits and drawbacks. In case, you plan to build your own brand then you need to work vigorously to attract parents and provide competitive services. Whereas, if you are planning to get benefitted from the famous franchise brand name then be prepared to shell out loads of money – ‘the franchise fee’ from your pockets.
- To start with, how much budget is sufficient for the preschool in India?
Budget remains variable; depending on various expenses incurred during the whole process. This includes:
– Legal expenses: registering the business name and the logos
– Infrastructural costs: buying or leasing space, furniture, staff salaries, activity equipments, play equipments etc.
– Office supplies: buying or printing office stationary, student diaries, report cards, official forms
– Staff expenses: includes teacher training expenses and staff salaries
– Marketing expenses: includes promotions, web development and web promotion charges.
In addition to this, in case, you plan to avail services from educational consultant then consider including the consultant fees as well. In contrast to this, if you are planning to opt for the franchise model then the franchise fee adds up to the amount in addition to expenses listed.
- Is it mandatory to avail services of a consultant for establishing a preschool?
No. Consultants are experts having apt knowledge, experience and contacts in the industry. They provide their guidance on finalizing location, devising curriculum and about promoting the business effectively. While working with consultants, you are advised to enter into a formal agreement with the consultant and make sure that all the services and the time of services are specifically outlined in the service agreement.
- Do I need to have any formal qualification to set up a preschool?
No. Having a teacher training qualification or an experience can work wonders for your business.
A couple of questions more, answered here won’t quench your thirst. Expand your horizons and start researching your neighborhood. Interestingly, other preschools in your vicinity can be a promising starting point for your research work. You can also take guidance from any friend or relative already running a preschool.
So, hop up and start making your baby steps towards the final destination – setting up your own preschool.