Many entrepreneurs want to do more with their portfolio than simply build wealth for themselves; they’re also interested in creating opportunities for others or leaving a family legacy. There are few aspirations worthier than supporting the children in your community and offering them a brighter future. Investing in a private school franchise is a straightforward way to do just that.
So, what are the pros and cons of private school franchises? Here are five things you’ll need to consider as you begin considering your options.
What to Know about Private School Franchises
Pro: Profitable Industry with Sustained Growth
As you consider school franchise opportunities, one of the most important questions you’ll need to answer is whether they’re profitable. On the whole, the global education market is projected to be worth nearly $12 billion by 2029. Additionally, the child care market – which educational child care franchises like Lightbridge Academy are part of – is expected to be worth nearly $92 billion by 2030. It’s a great time to invest in this growing market.
Con: Competitive Market
Of course, the market’s growth also means lots of people are getting in on it. With private school franchises, you’ve got no shortage of options. Some franchises, like Lightbridge Academy, focus on early childhood education. You may also be familiar with tutoring franchises, which serve children of all ages and may focus on a specific subject, like math. Still others focus on art, music, language immersion, or other specialty fields. It’s likely that one or more of these franchises is already in your area. Unless you invest in a franchise with stand-out programs and a proven business model, it may be challenging to distinguish yourself. With that said reputable franchises like Lightbridge Academy with their high-quality curriculum and hands-on training have the resources to help you rise above the rest.
Pro: Franchising Gives You Tools to Succeed
As with any industry, choosing to open a private school franchise rather than an independent school gives you the tools and resources to make establishing and growing your school much simpler. A reputable franchisor, like Lightbridge Academy, gives you a turnkey business model, thorough training, and ongoing support throughout the life of your franchise. With fewer operational nuances to worry about, you have more time to make your private school franchise the best it can be. For some entrepreneurs, however, these programs may feel restrictive.
Con: Franchise Models Can Be Limiting
The flip side of all the support you receive from your franchisor is that you’ll be restricted in the kinds of programs you can offer. If you have an educational background, you may feel passionate about certain subjects or teaching philosophies. As a private school franchise owner, you’ll be required to stick to your franchise brand’s programs. The key is to choose the school franchise opportunity that best fits your skills and interests; if you’re unable to find one, you may wish to invest elsewhere. By using your goals and values to guide you through this process, you’ll find the most fitting way to serve your community.
Pro: Giving Back to Local Families
If you’re considering school franchise opportunities, you’re likely to be a community-minded entrepreneur. Private school franchises provide children with the instruction and encouragement they need to develop a lifelong love of learning. Beyond that, a high-quality school franchise helps give parents the peace of mind that comes from knowing their child is being nurtured and cared for while they’re away from home.
At Lightbridge Academy, we’re especially proud to serve working families. There’s no greater compliment than the trust of parents, and no bigger testament to the purpose we serve in our communities than when a younger sibling, cousin, or neighbor of one of our little learners joins the Lightbridge Academy family.
Invest in Lightbridge Academy
Lightbridge Academy is a can’t-miss child care franchise opportunity. Our franchisees are devoted to serving working families, parents, and children alike. Thanks to our tried and tested business model, comprehensive training system, and robust franchisee support network, you’ll have all the resources you need to make your mark in the thriving education industry.
For more information about your private school franchise opportunity with us, contact us today.
