With Australia being the world’s third most popular destination for students, it has a culture that understands and embraces the importance of education.
With that in mind, more and more education & training franchise opportunities are appearing throughout the country.
There are many advantages to investing in an education franchise opportunity.
They include the following:
Site Selection
A franchise can help you find a territory with a market opportunity for your educational organisation.
Marketing
It is likely that a franchise system will have more marketing expertise and a larger budget than you would have if you set out to set up an education franchiseon your own.
Customer retention
You may be joining a franchise that has students and customers that already exist. If not, you could be investing in a franchise that already has an existing reputation which could lead to you getting even more business.
Staff recruitment and training
Franchises can help you find suitable staff and they can even train you in the areas of the business that you are unsure about.
Business planning
Another key element of franchises is that they have a system that works, and they can help you adapt your business to that system. If you choose an independent business instead, then you will be starting from scratch.
Website / Social Media
- A franchise may be able to help you set-up your social media presence and organise a website for your specific franchise.
Continuous Curriculum Development Etc.
- Investing in an education franchise, you may also get help with updating and improving the curriculum you are teaching.
Here are some trends and facts about the industry which may be of interest to you if you are considering investing in this area.
- An Austrade commissioned piece of research also predicted that Australia’s onshore international education sector is forecast to grow from 650,000 enrolments to 940,000 by 2025.
- Over the period to 2025, the fastest growing sectors in onshore international education are expected to be higher education and VET (in percentage terms). By 2025, these two sectors are expected to account for 72 per cent of all onshore international learner enrolments.
- The Australian Bureau of Statistics said total spending by international students in Australia – including course fees, accommodation, living expenses and recreation – was $19.2 billion in 2015.
- In a recent analysis of the industry, Frost & Sullivan found that the Australian educational technology (eductech) market is expected to grow to $1.7 billion by 2022.
- International education is Australia’s third largest export, valued at $28 billion in 2016/17 and supports more than 130,000 Australian jobs.
- Research by Deloitte Access Economics forecasts one billion prospective learners across 29 markets by 2025.
- IBISWorld research states that there are 804,715 working within the education & training industry in Australia.
- Science, technology, engineering, and mathematics, or STEM as it’s also known, has also been growing in popularity in recent years. More and more girls are finding an interest this area of study. In fact, a recent industry report from the Australian Government found that the proportion of girls who know which subjects make up STEM increased by 3 percentage points, growing from 64% in 2019–20 to 67% in 2021–22.
- However, the study also found that “girls’ confidence in STEM subjects is generally lower than boys, and falls as they get older”. Thus, if this is an area that you have passion for and want to help future generations of women strive in the STEM field, then a STEM franchise could be the option for you.
- The pre-school education industry takes in $2bn in revenue annually according to IBISWorld, with an excellent annual growth rate of 4.2 percent from 2014-19.
Research has shown that music education help children with the following:
- their capacity to work faster and more efficiently
- ability to tap into multiple skill sets,
- creativity, as well as
- linguistic neural connections between language and music that prime neural networks for learning.
In Australia the tutoring sector already currently engages one in seven children and is a billion-dollar industry.
- A recent article on ABC entitled ‘Demand for tutor’s skyrockets as students suffer from Covid-19 learning disruptions’ discussed how this sector is set for growth. This is partially because the learning disruption caused by the pandemic.
- 42% of Australians aged 15-74 years had participated in learning in a twelve-month period between 2020 and 2021 (7.8 million people). In that number, there are a huge amount of people who engaged the services of franchises either directly, or indirectly.
- One in five of those listed above (21%) were studying for a formal qualification. Which, in turn, was an opportunity for training and tutoring franchises to gain new customers. Just under a quarter of the above (23%) did work-related training.
- Online learning was the most common way work-related training was delivered: rates more than doubled from 19% in 2016-17 to 55% in 2020-21. This is an area where there is an abundance of opportunity for franchises going forward.