How to Start a Preschool Business in India 2024-25
Early childhood education is extremely important for the all-round development of a child. Most of the brain's development occurs in the early years of life. Therefore it is important to make the most of these years and utilize them for the systematic education and development of the child.
And that is why early childhood education continues to gain
momentum around the world. With increasing awareness about the importance of
teaching a child early, preschool businesses in India are growing like never
before.
Is Preschool a Profitable Business in India?
With so many preschools in the market, can preschool businesses in India really be profitable? The answer is 'yes'. Over the past
few years, the preschool market in India has been growing rapidly.
Additionally, the shift is more towards the organized sector where many are
opting for the non-franchise model which is more cost-effective.
The following are the reasons for the growth of organized preschool market and ultimately preschool business in India –
Increase in the number of nuclear families
The main reason for change in family structure is
employment. This has led to an increase in the number of nuclear families which
means the number of elderly people at home has reduced. And due to this, there
are no reliable people at home to take care of the small children in the
family.
This has led to an increase in the number of enrollments in
preschool. Many parents feel safe leaving their children at preschool with
other children where their safety and security will be taken care of.
Awareness about Preschool
Preschools help provide a foundation for the child to grow
on. A good preschool that creates a learning environment is important as it
develops curiosity and creativity within the child.
Today's parents are well aware of this and want to do
everything within their reach to ensure the well-being of their kids. To give their child the best start in life
and provide them with good learning opportunities, parents are choosing
high-quality preschools. And this is one of the major reasons for the
increasing demand for preschool businesses in India.
Increase in spending capacity
Today, when both the parents are working, the spending
capacity of the family has also increased. Many workplaces are breaking gender
stereotypes by supporting women during their motherhood journey as well. This
has encouraged women to continue their jobs even after the birth of their
child.
Due to this, parents can now easily opt for a quality
preschool without thinking much about the expenses involved.
So, once you have decided to start a preschool business in
your area, the next logical step is to prepare a business plan for your
preschool.
Preschool business plan
A business plan is a way of describing what your company
wants to achieve and how it plans to achieve it.
When it comes to playschool business plan, it is important
to consider expenses, fee structure, target audience, location, etc. The
factors given below will help you define the business plan for your preschool.
Enrollment
It is important to consider how many enrollments you are
expecting in a year. Also, the age at which you want to enroll will also play
an important role. Generally, the price varies with age.
Also, your experience and background will play a major role
in deciding what age you want to enroll in your preschool.
Number of hours of operation
Another important question is – do you want to start
preschool operations on a full-day basis or a part-time basis? Some parents may
need after-school care for their children.
You should assess the needs of parents in your preschool
area. Only then will your preschool business be in a position to meet the needs
of Indian parents.
Operating costs
It is important to consider the operating costs of your
preschool to ensure its proper functioning. Consider what amenities you want to
provide. Specify the number of candidates you want in your preschool. Also, how
many teachers do you want to hire? The requirements of non-teaching staff
should also be clear.
Operating costs will be the deciding factor in your decision
to start a preschool business in India. Therefore, you have to do due diligence
before venturing into this business.
Marketing plan
Your marketing plan is one of the most important factors of
your playschool business plan as it will determine the success of your
business. A good marketing plan will help you identify your target audience and
your competitors. It also helps in identifying the strategies used by your
competitors for marketing.
It will also help you build your strategy to create brand
awareness and reach your target audience efficiently. Your marketing plan will
help you create efficient strategies for acquiring new customers. You can also
rethink your goal to make it more reasonable and achievable.
Right place
The long-term profitability of any business depends on its
location. The same is true for preschool business in India. The right location
can help you reach your break-even sooner.
The demographics of your location are also very important.
Your location should be surrounded by the customers you want to target. For
example, a young working couple with a nuclear family background could be your
ideal customer. Find a place with such people around you.
Secure infrastructure
Infrastructure is the first thing that parents look at when
they come for admission. They would not want their children to be confined in
small spaces. Safe, child-friendly, interactive and bright classrooms are
always welcome for children which will also keep them engaged.
Since preschools are all about learning through play, safe
and state-of-the-art play equipment should be given equal importance in your
playschool business plan.
