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You may be pondering what to make of franchising and if it is something you should pursue. But even the most fundamental idea of franchising can be intimidating if you don’t know what you’re getting into.
The franchise model comparison of Henry Harvin and Aptech has become increasingly popular in the modern business world because it paves the way for new entrepreneurs to enter the market using tried-and-tested methods and well-known brands. And the franchise of an educational institute is the best for you.
A nation can only progress by investing in its children’s future. India’s educational system has significantly expanded in recent years. The rising demand for educational opportunities in India has made opening a franchise in the education sector viable. By 2023, the Indian education market is projected to be worth $1.96 billion, creating a massive opening for new education franchises to enter the market.
Here in this article, we will discuss the Franchise Model comparison of Henry Harvin and Aptech, two well-known education providers, based on Franchise fees, recurring franchise fees, investment, royalties, course curriculum, ROI, student support, course delivery, faculty support, course fee structure, international presence, and other essential factors.
What Is Franchising?
Franchises are economic relationships in which one company (the “franchisor”) offers another company (the “franchisee”) the right to utilise the franchisor’s trademarks, trade secrets, and other intellectual property in exchange for a fee. The franchisee agrees to pay the franchisor an initial franchise fee and periodic royalties.
Although there are many franchise models to choose from, the three most typical ones common model are:
Business format franchise: The most typical franchise model is based on a business format. The franchisor grants the licensee the right to use the franchisor’s trademarks and business model in exchange for payment of fees and a consistent cut of the franchisee’s sales. Under this system, franchisees operate following the standards set by the parent corporation.
Product franchise: The product franchise model predates all other franchise types. Franchisees in this system are tasked with selling and distributing the franchisor’s goods entirely.
Manufacturing franchise: In a manufacturing franchise, a third-party manufacturer buys the right to make and sell the franchisee’s branded products exclusively in the franchisee’s territory.
Franchise Model Comparison of Henry Harvin and Aptech
Franchise Fee:
Regarding the first franchise payment, Aptech and Henry Harvin take opposite tactics. Aptech’s franchise fee is higher, and the price may change depending on circumstances such as the franchisee’s location. The franchise fee ranges from 8 to 17 lakhs.
However, the franchise cost of Henry Harvin is low irrespective of the place, and the best part is it’s flexible. The franchise fee ranges from 2.5 to 6 lakhs. Due to its low cost and flexibility, people could afford their franchise.
Recurring Franchise Fee:
Your franchiser will likely collect royalties once a month. Like marketing fees, these get calculated as a flat rate rather than a fixed amount. Royalties paid to the franchisor might be from four percent to twelve percent of gross sales. Similar to the initial franchise fee, the recurring cost for Aptech franchises is high, whereas Henry Harvin charges a low recurring franchise fee.
Investment
Franchise ownership requires careful financial planning. Location, employee, and supplies are all on the table for grabs, but they all come with a price tag. Because of this, you should first determine your financial limits and search for businesses that meet your needs.
Therefore, starting a franchise with Aptech requires a high investment of at least 20 lakhs. In contrast, you can create your business with a low investment with a minimum of 3 lakhs with Henry Harvin.
Royalties:
Investment royalties are the ongoing percentage or fixed amount licensees pay franchisors based on their investment or revenue. Aptech follows a high royalty model. Henry Harvin charges the lowest negligible royal model to fit everyone’s budget and expand its franchise business.
Course Curriculum:
Aptech provides industry-oriented courses only in Cloud Computing, Mobile App Development, Big Data, Cyber Security, Network Engineering and Java. In contrast, Henry Harvin Education delivers training and services across various domains, including Data Science & Analytics, AI & Machine Learning, Automation, Real Estate, Quality Management, Agile & Scrum Academy, SAP, Cloud Computing, Cyber Security, Content writing, Digital marketing, etc.
Returns on Investments:
Various factors, such as location, market demand, operational efficacy, etc., influence the determination of investment returns in a franchise model. A poll has confirmed that Aptech’s franchise offers medium returns, whereas Henry Harvin’s franchise delivers a high return on its investment.
Student/Customer Support:
Aptech and Henry Harvin both stress the significance of being there for franchisees. The nature and degree of student aid may differ, though. Aptech assists with advertising, teaching materials, instructor development, and technical support. Henry Harvin promises to support its partners in various ways. They will help you with everything you need to set up your business, including 24X7 customer support to solve your query.
Course Delivery
There are three methods of delivering content to students. Content presentation technologies allow for different content and information presentation options. Students and working professionals prefer online courses, so nowadays, reputed institutions offer online and offline modes.
Henry Harvin has its presence online, offline, and hybrid models and Aptech has only offline/online modes.
Faculty Support
Excellent educators play a crucial role in shaping their students’ academic success, and this fact you cannot overstate. Almost everyone can think of a teacher who left a lasting impression on them because of how interesting, supportive, or motivational they were.
So Henry Harvin has a solid policy to hire the best faculty from the relevant industry, and they are highly dedicated to offering 1:1 support.
Course Fee Structure
A course fee structure is another factor when selecting an institution’s franchise. It can decide whether you can make a profit or not in your business. Candidates constantly analyse the course fees against the benefits they will get from the course. Aspirants prefer flexible and affordable course fees where they can complete the course without a cost burden.
So Henry Harvin offers flexible course fees with easy EMI options per the student’s requirement. Unfortunately, Aptech follows a fixed course fee structure.
Overseas Presence
The global presence of an institution brings authority and reliability to businesses and companies. The company can increase its income by tapping into new markets abroad. You can access additional revenue streams by diversifying your holdings and modifying your business model to fit your target market.
Both institutions have an overseas presence, but Henry Harvin has offices in countries like the US.
FinaleThoughts
In 2023, there will be several advantages to owning an education franchise in India, such as the strong demand for such services, low startup costs, a successful business strategy, ready availability of instructional materials, and assistance with promotion. Franchise is the most crucial entry point into the education market in the future.
The education industry has been expanding rapidly over the past decade, with most of that expansion coming from purchasing franchises. Buying an existing business is quickly becoming the norm rather than the exception for several reasons.
The Aptech and Henry Harvin franchise models exhibit differences in various aspects, such as franchise fees, investment royalties, course curriculum, investment returns, and student support. Prospective franchisees should gather detailed information from the respective companies to make informed decisions based on their preferences, investment capabilities, and long-term goals. Conducting thorough research and seeking direct communication with the companies will enable individuals to select the best institution per their needs.
FAQ’s
Q.1 Can a franchisee become wealthy?
Ans: Investing in a well-known and thriving franchise business can help you generate enormous profits and diversify your portfolio. A franchise venture combines the independence and adaptability of a small company with the advantages of a large network enterprise.
Q.2 Who reimburses the franchisee?
Ans: The majority of franchisees do not receive a salary. Instead, your earnings as a business owner derive from the surplus revenue after covering operating expenses.
Q.3 What are typical franchise fees?
Ans: The average franchise fee ranges between $25,000 and $50,000. However, these costs can be significantly reduced or higher based on your chosen company. You must also account for recurring expenses such as technology costs, marketing/advertising fees, and royalties.
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