Running an education franchise can be an extremely rewarding experience. Ownership allows you to provide a valuable service while earning a respectable living. Yet despite these advantages, many potential franchise owners are hesitant to take the plunge into running their own education franchise out of a fear of the unknown. This is understandable, as purchasing a franchise–like starting any business–involves some level of risk. However, education franchises, and math learning franchises such as Mathnasium in particular, have an established track record of success, which makes them a wise investment for most potential business owners. As you research your franchise ownership options, consider the following suggestions regarding information that you need to know to run a math franchise:
Franchises are unlike other business opportunities in that you do not need to have a background in the particular franchise field in order to make a franchise opportunity work for you. This might sound strange at first, but consider your local fast food franchise as an example. Would you expect the owners of these franchises to all be established chefs? Of course not. You can drive through most any town in America and see successful franchise locations of national restaurant chains, many of which are owned by individuals with little to no background in the food service industry. This is due to the power of franchising. When you purchase a math-learning franchise, you are actually purchasing the expertise of established educators and product designers who have already crafted a successful educational program. This means that the franchiser will provide you with everything you need to serve the needs of your market–no experience required. If you have been hesitant to buy into a math education franchise because you do not have a teaching background, you can rest assured that these skills are not required in order for your franchise to succeed.
Researching franchise options means learning about your potential customer base. And upon first glance it may seem as if a math education franchise would have a smaller corresponding market than a broader education franchise which does not limit itself to one subject. But the truth is that specialization is a benefit, not a detriment. This is due to the fact that math is one of the most challenging subjects for today’s students, and math skills are now essential for all students, even those who have no intention of studying math beyond the high-school level. This is because math grades are a component of the application materials that students send to their desired colleges. The latest statistics have shown that students in the United States continue to test behind a number of other countries in terms of their math skills. And when a student who has trouble in math suffers a reduction in her GPA, this makes her less competitive against other college applicants seeking that same spot. And given that universities receive applications from students around the world, American students are competing against applicants with a higher rate of math proficiency. The end result is that a student who struggles with math is likely to face obstacles to a higher education–regardless of her desired field.
A math education franchise is not designed to replace a student’s current math courses. Running a competing math program would simply add more confusion to a child’s life. Instead, a successful education franchise offers a program which helps the student to better understand what he is learning in school. This is accomplished by diagnosing each student’s skill on an individual level and adjusting the program to address that student’s needs. This approach allows you to address the needs of virtually any student, regardless of age or skill level.
Franchise ownership, like any other business venture, has a higher potential for success if you begin the process with a thorough understanding of what your new career will entail. A franchise offers you the opportunity to escape the monotony of a traditional 9-5 work experience. At the same time, franchise ownership allows you to avoid the challenges of running a startup business. You will be provided with a successful product which is perfectly suited to meet the needs of an established, under-served market.
Starting any type of business means making major life changes. But choosing a math franchise can help ensure that this career change will put you on a path towards success. A math-learning franchise makes a measurable difference in the lives of its students, and owning one is sure to provide you with a sense of pride. Do your homework, choose the right franchise, and head into franchise ownership with as much information and dedication as possible, and you will be well-positioned to achieve both a sizable income and a healthy work-life balance.