Buying A Tutoring Franchise?
Are you considering a tutoring franchise. If you are please do your research carefully. Now a days the competition for tutoring is harsh. Ever since 2007 tutoring companies and agencies have erupted and the agencies currently out there are facing tough competition. I suggest you do your homework because you may be investing a lot of time and money for very little results. The only survivors out there are the agencies that have had their roots in the ground for a long time and therefore word of mouth keeps their business’ booming.
Agencies and tutoring franchises are popping up like we have never seen before. It is easy to say that you can own a tutoring business but it is much harder to run a tutoring business efficiently. Many learn the hard way and shut down within a year or two of opening their tutoring business. How do I know this. One of my friends opened a tutoring franchise and got burned because she thought that it would be easy. I also know this because I am the manager for Tutors For Less Toronto and I don’t even work full time and my job is tough. You have to be a jack of all trades to run an agency efficiently. And this is considering they are an established tutoring agency. Now imagine all that hard work with a tutoring agency or territory that you just started. It won’t be easy that is for sure!
I was considering buying a tutoring franchise at one point but I did my research properly. What I can’t fathom is that their are some tutoring franchises that offer small territories in big cities for a hefty franchise fee. When their is stiff competition out there if you are franchising for a small territory then it is not worth your effort, money, or time. Add to this a recession where tutoring is becoming more of a luxury for a lot of families.
Not only will you be paying your franchise fee but you may be adding about 15 – 30 K in advertising website creation, marketing etc.. This is not a Tim Horton’s franchise where you buy any location and “the people will come” type of franchise. Their is a lot of money and time invested into getting your tutoring franchise to be successful. This is especially true if your franchise does not even have a branded name to begin with.
The wise thing to do is to own a franchise in a territory that is not hit by stiff competition. Otherwise if you purchase a franchise in a popular city or municipality you may be facing fierce competition. That goes for any franchises out there. Not only will you face competition from your competitors. You will also face competition from your franchisees who may want to dip their advertising into your territory. This holds especially true for any home based tutoring franchises. What if your competitor advertised at your local community arena. They have a full right to do so even though this is your territory. It is unconventional but is legal.
Consider a Brick and Mortar tutoring franchise. This way you pick the location and you can make sure there is no other competition in the plaza or mall.
Unless you love education. Consider a franchise that you would enjoy doing and involves less stiff competition Consider purchasing a franchise that is unique and at the same time enjoyable for you to work with.
Good luck and choose wisely when you are purchasing a franchise.
Penelope Sanchez is a tutor director for Tutors For Less in Toronto. She has been an educator for more than 20 years and has been working part-time at Tutors For Less as a director/manager for the past 5 years.