1. What is the growing market demand for study abroad services?
The growing market demand for study abroad services is substantial, driven by several factors:
- Global Market Expansion: The worldwide market for study abroad agencies is expected to grow from $16,888.27 million to $2,300.13 million by 2030. This represents an annual increase of approximately $1.48 billion.
- Asia-Pacific Growth: The Asia-Pacific region’s study abroad market is expected to increase up to $18,705.99 million. The Compound Annual Growth Rate stands at 7.60%.
- Indian Market Trends: For Indian students, the interest to study abroad continues to be very strong. The most popular destinations include the US, UK, Australia, and Canada. By 2027, approximately 2 million students are projected to pursue education overseas. India leads in higher education expenditure abroad, spending $60 billion, surpassing China at $40 million.
- Study Abroad Agencies: The growth of study abroad agencies has increased the market potential for study abroad. These companies simplify the complex processes such as application and visa processes. Therefore, 80% of students who travel abroad for their higher studies depend on these agencies.
2. What are the benefits of a study abroad franchise?
The benefits of a study abroad franchise are:
- Brand Recognition: The biggest advantage of having a franchise is that you save time on market research as you are already familiar with the brand and its proven performance. Recognized brands build trust and credibility with your customers. This can also reduce your cost of marketing to attract clients.
- High Demand: The demand for studying abroad has surged in recent years due to limited IITs and IMS. This creates significant opportunities for study abroad consultants to assist students in pursuing education overseas.
- Diverse Revenue Streams: There are multiple revenue streams, from high university pay-outs, application processing and visa services to accommodation arrangements and language preparation courses. This diversification allows you not to rely on a single source of income.
- Back-End Support: As franchises receive a well-established system, operational efficiency would be higher. This includes application handling, student counselling and the visa process which enables proficiency and consistency.
- Technology Support: Franchises generally receive technical support such as CRM-based application tools, study abroad technology, and application tracking systems. This reduces the burden on franchisees to manage technical problems.
3. What are the required investments and potential returns of the study abroad business?
Required Investment:
For those interested in the overseas education business, there are two distinct models available for investment.
Study Abroad Franchise Model:
In the study abroad franchise model, most of the franchises operate on a profit-sharing basis. Franchisees must pay a fixed amount as royalty and setup fees to the franchisor to utilize the brand. This amount varies from 10-15 lacs for a study abroad franchise. Under the profit-sharing model, franchisors receive higher pay-outs typically around 60-80%, based on the location and agreement. The franchisor will be responsible for key aspects such as marketing, company branding, application submission, visa submissions, and all the other operational support and processes. Franchisees are limited to operating the business under a defined territory and must adhere to the franchisor’s regulations. For example: KC Overseas or Prosper Overseas.
Study Abroad Partner Model:
An alternative to the study abroad franchise is the Study Abroad Partner Model offered by Edumilestones. In this model, the initial investment is very low, under one lakh with no annual charges. Additionally, partners have the flexibility to operate their business globally without any territorial limitations. Partners receive full support equivalent to the franchise model with a lower investment, enjoying higher pay-outs of up to 70% directly. There are no binding commitments and franchise agreements that bind the business operations. The partner model operates as a co-branded or white-label solution, allowing partners to enjoy their branding alongside Edumilestones’ branding.
4. What potential returns does study abroad business offer?
Potential returns are very high in overseas franchises, with over earnings per application between 80,000 to 2,00,000 making it a highly profitable venture. In franchise mode, it typically takes you around 2 years to reach break-even. However, with the Edumilestones partner model, which requires a low investment of 70k-80k, break-even can be achieved in single applications. Once partnerships are established with the universities, the pay-outs can vary.
5. How to start a study abroad franchise?
To guide you through the process of starting a study abroad franchise, I recommend the highly convenient Edumilestone’s Study Abroad Partner Model. Edumilestones initial investment for the study abroad business is very low. The steps to start your Study Abroad Partner Business with Edumilestones are:
Step 1: Enrol for CCCIS (Certified Career Counsellor for International Studies)
To begin your franchise journey, enrol yourself in Edumilestones CCCIS program. This program guarantees you to start your study abroad business in 3 weeks. CCCIS includes study abroad training, an application tracking model, and operational support. The program includes all these features in one package. To enrol in this program, visit CCCIS PROGRAM LINK and take your first step towards a study abroad franchise journey.
Step 2: Get 5 Days Training on 10+ Countries Admission Process
Are you new to business? Don’t worry! The CCCIS curriculum is highly detailed:
- The initial three days include the admission process for 10+ countries like the USA, UK, Canada, Australia, Germany, France, and many other countries. You will also learn how to effectively deliver counselling to prospective candidates.
- On the fourth day, you will be trained to work on a technology platform and know its usage.
- The last day covers a business session on how partners can generate revenue, with proven techniques and business plans.
Step 3: Set Up a Dedicated Study Abroad Partner Platform By:
- University and College Partnerships: Edumilestones has 1500+ university tie-ups across 22+ countries. Additionally, the platform offers a course predictor featuring over 500,000+ course information.
- Platform Features: In the study abroad technology platform, you receive functionalities like candidate profile management, application submission, application tracking, visa processing, a SOP maker, and university pay-outs tracking.
Step 4: Backend Team
Under the same program, you receive a dedicated backend team from Edumilestones. This team handles everything in-house, from college shortlisting and timely application submission to visa processing. Edumilestones’ backend team submits all applications on time and maintains one of the highest visa success ratios.
Step 5: Pay-outs on Time
Edumilestones offers 70% university pay-outs to partners. The pay-out ranges from ?80,000 to ?1,50,000 based on the university and the country. All pay-outs are on time. Edumilestones dedicated team follows up with the university to ensure all pay-outs reach partners on time. The technology platform provides transparency to directly track pay-outs and raise invoices directly from the platform.
Conclusion
With these insights, are you prepared to take the next step and invest in a study abroad partner model? Staying consistent and facing challenges head-on will be key to success. Remember “Now or Never” so do not delay or hold back yourself from investing in this expanding market.
