Many people are perplexed with the choice of which business should I do? Several people are driven by different motivations to start a business. In the case of young people, they feel that they would like to do something independently rather than take up a job. In the case of existing businessmen who are already running a business, they feel that their existing business has reached a peak and they would like to start something new and grow their income. Some of the ladies take up motherhood as a profession and when the kids grow up they look for an alternate profession which is not too tough for them to handle and would also be a small venture to start with.
One of the key drivers for all these categories of entrepreneurs is the risk taking capacity. They all want a low-risk option. They are seeking a low investment option that will yield a decent return. One of the low-risk options available for such an entrepreneur is to take up a franchisee of an existing business. Instead of going through the struggle of starting a venture where the product/ service have to be explored, then developed and then matured up. Ideally, one should take up a franchisee of a company which has already developed the product, identified the marketing and sales challenges and have been able to compete in the marketplace. As a franchisee, one gets the advantage of the quick rollout.
Speakwell the one of the best English speaking institute in Mumbai has a very low investment model wherein a franchisee can setup a Speakwell center with just about 7 – 8 lakhs investment and can earn a decent income of about Rs. 1 lakh per month. In some cases, the monthly income is even higher. It also depends on the involvement of the franchisee in the business. The market for spoken English is very large and there are many fragmented players but some of the brand names like Speakwell have been able to create traction towards their brand. In Mumbai and Pune, Speakwell is the No. 1 brand. The Speakwell brand has been consistently profitable for its franchisee partners and they have been able to create a steady flow of customers for their brand to these franchisee centers.
A survey amongst several leading franchisee brands has revealed that Speakwell figures amongst some of the top most brands which are available for franchising. In fact, in the low investment franchising option, it is the leader. It is an ideal franchisee option for people who want to start small and invest their time and talent around this business. The best part of the Speakwell business is that it does not have a very large investment in machinery to start with. Neither does it have a large investment in inventory to run the business. In many businesses like a cake shop, ice creams or other food businesses the investment in inventory is also at the risk of perishing. Some of the other businesses like fashion demand a huge investment in inventory and to keep the business running the entrepreneur has to continuously keep on investing in the inventory. Invariably, the profits are mostly stuck in inventory. Then there is the problem of dead stock because fashions and trends change.
In the case of Speakwell, these problems of inventory and dead stock are circumvented. It is a business which is easy to build because the demand for spoken English is very high and Speakwell is a reputed brand. One can establish a Speakwell center anywhere in the country. Once this business is established the franchisee has to just maintain the quality of training through proper staff management. Once the Speakwell center is established it just needs a few hours of involvement by the franchisee to keeps the business running. Being a staff-driven business, the franchisee needs to keep a good set of staff members and manage the business through them.
Over the last 10 years, Speakwell has built a reputed brand name in the area of Spoken English classes in Pune. It has an impressive network of centers across some of the major markets like Mumbai and Delhi. It has more than 100 centers across Mumbai, Pune, Delhi and other cities of Maharashtra. Speakwell is a growing network of franchisee across India. Speakwell is an ideal option for anybody seeking to set up a franchisee business.