Best Tutoring Franchise Opportunity? How to Choose.
Is Buying a Tutor Franchise a Good Investment?
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Which Tutoring Franchise is the Best Opportunity? - By Robert Edwards
Tutoring franchises can be a good franchise choice however there quite a few variables you should explore to ensure that you are make a decision based on fact, not emotion. Many people allow feelings, particularly in this sector, to guide them through the process. Teaching kids and doing good in the community gives a very powerful and positive vibe, but unfortunately people have succumbed to that vibe made poor buying decisions and have actually lost their investment.
Here at Franchise City we often receive calls from people who are interested in buying a tutoring franchise and want our opinion on which one is the "best"
Unfortunately there is no simple answer based on a number of factors. In this video I will show you some of the things we look at with our own clients to help them make an informed decision on tutoring businesses. And as we go remember our service is provided at no charge and feel free to call us for insight on your own franchise choices.
The first thing we do for our clients is a territory availability check. There is absolutely no point in investigating a franchise any further if the proposed territory is already spoken for. It's quite sad that we get calls from people who have been researching for weeks, online and offline looking at FDD's spending hour after hour and in 30 seconds I tell them it's not available in their territory. So first off - do a territory check! We can do those for you here.
Once you have determined the territory is available NOW we can begin the research. I always suggest that people look at at least 3-5 other tutoring franchises to ultimately find the best one based on your specific situation. The first franchise you like, when you explore it further, may actually not be a good fit at all. We suggest you be as critical as possible and look at as many options as you can to ultimately find the best fit.
We have a cheat spreadsheet available for our clients that helps to compare a huge number of features on the top Tutoring Franchises. We have Kumon, Mathnasium, Best in Class, E.Nopi, Sylvan, Huntington and others. We have compiled data like ages they service, royalties, territory sizes, type of programs, how long in business, how many units and a whole lot more. It makes it really easy to get a snapshot of all the franchise differentiators in one sheet.
So why might one franchise be better in one situation and not another. Well because there are many variables to each location and potential owner. Firstly what is your background and your preferred role in the business? Do you like sales, business management or teaching? Does the franchise require a lot of community networking and selling to get students in the door - or do they have comprehensive marketing plans that get kids in? If you like or hate sales that will influence your decision on which franchise is a better fit.
Do you have teaching experience and do you intend to teach classes yourself? Some models prefer the owner operate in an executive capacity, spending more time on business development and local networking and not actually teaching. Other franchises are fine with the owner teaching. Your preference will change which franchise is best suited.
What ages of children are best for your demographic? Also what price ranges are best for your demographic. This will qalso impact which franchise is best suited for your area. High priced, exclusive tutoring will not necessarily do as well in a blue collar or lower income neighborhood, while a lower cost tutoring option could be a better fit.
Also what business model appeals to you? Some franchises have literally hundreds of tutors for one franchisee while others have just a handful. Are you adept at hiring and co-ordinating teams? Also depending on your local economy it may be difficult or easy to recruit huge numbers of tutors at required wages.
Another consideration is finding office or school space - how hard within your own territory will it be to secure reasonably priced real estate at the dimensions and layout as required by the franchise? Some franchises require small office space, some are retail, and all have varying square footage requirements. If finding real estate in your region proves to be a potential problem you may look at franchises that provide mobile private tutors instead of a brick and mortar school.
Now once we explore these factors and have a shortlist of the most appropriate tutoring franchises for your situation then we can drill down and compare things like territory sizes, royalties, what you get for the royalties, length of the contract, marketing programs, and lot more. Once we further shortlist we then arrange for our clients to speak with a few existing franchise owners to get their feedback on what it's like to actually own the franchise.
Childrens tutoring can be a rewarding franchise business provided effective research is conducted. Don't allow emotions to guide you through the process and always be critical. Click below to request a free consultation and assistance in your franchise research.