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Do you want to start your own overseas education consultancy?
What are the business and revenue generation opportunities available in the study abroad business?
Let’s understand…
India is now the largest overseas education market globally, where, in 2024, more than 14 lakh students preferred to study abroad.
The dominant market areas in India are Punjab, Telangana, Andhra Pradesh, Gujarat, and Maharashtra.
We have limited this article to the topic on how to start your own overseas education consultancy business.
Legal Requirements
If you are starting an overseas education consultancy in Punjab, a separate license is required by local authorities to operate study abroad consultancy and IELTS services. For the rest of India, no license is required.
A local municipality license, incorporation certificate, and GST registration are the primary requisites for the Punjab market. In the rest of the country, you can start your consultancy from home, an office, or a co-working space—there are no specific requirements. In fact, most businesses start on a small scale and then grow with each intake.
Skills Requirement
It is a knowledge-based industry where study abroad counselors must learn the admissions and visa processes of different countries. The complete overseas education business landscape has changed, with most consultancies focusing on end-to-end admission processes for students, including Ivy League colleges, portfolio building, and more.
Revenue Opportunities
Revenue opportunities are very high in the study abroad consultancy business. You can create multiple revenue generation opportunities per candidate divided into three categories:
Category 1: Short-Term Revenue Tips:
- Generate revenue through career counseling and end-to-end applications management. Most startup overseas education consultancies charge INR 5,000 to 10,000 per candidate.
- Non-tie-up and Ivy League university application management consultancies charge INR 1.5 lakh–2 lakh per candidate.
- For portfolio building, consultancies charge INR 60,000.
- For German public university guidance, consultancies charge 1 lakh per candidate.
Category 2: Mid-Term Revenue Tips:
- Most universities require IELTS. Consultancies charge INR 8,000 to 15,000 per candidate for IELTS preparation. There is a recent trend where many new startup consultancies use IELTS preparation as a lead generation hook, offering it for free or at a very low cost.
- Education loans are another opportunity where consultancies tie up with banks and NBFCs to earn a percentage of the loan disbursed.
- Forex money transfers, hostel bookings, and flight ticket bookings also offer consultancies good payouts.
Category 3: Long-Term Revenue:
- The most important and biggest payout comes in the form of university payouts, where partner universities offer commissions ranging from 5% to 20% of the first-year tuition fees.
- Countries like the UK offer very high payouts of INR 1.5 lakh to 2.5 lakh per candidate, while other countries range from INR 70,000 to 1.5 lakh per candidate.
Business Model
If you are planning to start an overseas admission consultancy, understand the business model. There are three cycles globally when admissions take place: September (main intake), followed by January and May. Most university payment cycles range from 3 to 5 months after the date of intake, so it is important to manage financials through short-term and mid-term revenue opportunities.
Many overseas admission companies also bundle India admissions and medical admissions to increase revenue opportunities.
Business Tip 1: This business is multiplied based on references received from existing candidates. Focus on the first five cases and then take references from them, as their family references will be very strong and will help you generate an additional ten files. We have seen a multiplier effect in many startup overseas education consultancies.
Business Tip 2: Represent the student to the university rather than the university to the student. The first approach is an agent approach, whereas the second approach is a counselor approach.
Business Tip 3: Keep the starting cost very low by starting the business from home or a co-working space. Don’t invest too much in office and space.
Business Tip 4: Don’t go for a study abroad franchise. Prefer a study abroad partnership program offered by Edumilestones’ CCCIS Program. You will find the difference.
How to become an overseas Education Consultant?
To become an overseas education consultant, you need to learn admissions process across countries. Get training on study abroad counselling skills, university shortlisting, documentation and intakes information. CCCIS is an abbreviation of Certified Career Counselor for International Studies required to become an overseas education consultant. Post CCCIS certification you can start your consultancy globally.
What are the qualifications required to become an independent education consultant?
Any graduation degree with CCCIS certification is sufficient to become a global education consultant and start a study abroad business.
How to generate initial business of overseas education consultancy?
- Offer Career Counselling to Students and working professionals
- Collaborate with tuition classes, educational institutions on profit sharing basis
- Conduct online webinars and presentations
- Social media marketing
- References
- Own Connections
How to differentiate my consultancy than other established players?
- Offer end to end solutions to candidate
- Single window education and career lifecycle management
- Don’t restrict to only tie-up universities
- Personalized approach
- Ethical and transparent practice
- Proactive updates and relationship building
- Brand building activity
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Reference Link:
Become Overseas Education Consultant
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