It’s a perfect time to go into business for yourself. In the current environment, anyone with an entrepreneurial spirit can find opportunities in every sector. One option that’s hard to beat is owning a franchise. You’ll be your own boss while having the support of an established business. So why consider a math franchise in particular?
The market for private tutoring is forecast to reach over $218 billion by 20271, as more and more parents are turning to supplemental math education to boost their children’s grades, standardized test scores, and overall math competency. With a growing competitiveness in college admissions and a rising demand for STEM skills in jobs, Parents want to give their kids the advantage that supplemental education offers. In fact, U.S. spending on tutoring has increased tenfold since 2001.1
According to the Bureau of Labor Statistics, much of the growth in our domestic economy will come from STEM-related jobs, some of which are extremely well paid.2 This is not lost on today’s parents, and it’s something to consider when looking for the best franchise for you. Math teaches thinking skills and problem solving which has proved vital for future work and daily life. And its value in the workforce keeps growing.
No matter how great a math teacher is in the classroom, there are always students who need help with specific math concepts or those who are ahead of the other students in their class, and schools are often unable to provide the extra time and attention they require. Many parents aren’t willing to wait to see if their kids will get the math education they need in order to have the college and career choices they want. They also want their children to feel confident that they have what it takes to succeed. By taking them to a math tutoring franchise, parents are letting their kids know that they believe in their ability to understand math and develop their mathematical skills.
By opening a business in this booming industry, you will be changing children’s lives and making a difference in the community. Any student can excel in math if they receive the right instruction, and a math franchise can teach it to students in a way that makes sense to them. Whether a child is struggling in math or needs a greater challenge, you can be the reason they are ultimately able to achieve their potential.
One of the biggest advantages of owning a franchise are the proven, established systems that come with it. Startups of entirely new businesses are more likely to fail, and purchase of existing businesses can require much more capital up front.3 And while it’s a great business for teachers to get into, you don’t need to be a math teacher or scholar to thrive as a math franchisee, as you’ll get all the training and support you need. It’s a low-cost investment based on a simple business model.
If owning a math education franchise sounds right for you, connect with one of our Franchise-Success Executives to learn more. Mathnasium is North America’s leading math-only supplemental education franchise. With more than 1,000 learning centers worldwide, Mathnasium has been ranked on Entrepreneur Magazine’s list of top 500 franchises 15 times since 2004.
1Global Industry Analysts, Inc.