In the last few years, a large number of entrepreneurs have entered the education sector. One reason for this growth is that parents consistently seek quality education for their children, and investments in education rarely decline.
It is believed that the education industry, like the automotive, consumer goods, and electronics industries, will never see a downfall since education is an essential aspect of development.
But before we jump into the benefits of owning a STEM Education franchise in the USA, it’s important to understand STEM.
The acronym STEM groups together academic disciplines in science, technology, engineering, and mathematics. They are typically addressed in education policies and curriculum choices in schools. A STEM major usually includes:
But why is it so important?
As society innovates and technology develops, the demand also grows for people who understand how these technologies work and can suggest real solutions. STEM vocations are referred to as “tomorrow’s employment” by the US Bureau of Labor Statistics (BLS), which underlines the importance of these distinct areas.
According to the National Science Foundation, STEM professions are in great demand, and many of them are expected to remain so for several years. STEM workers, on the other hand, are in short supply, which is why many universities, as well as the federal government, are encouraging more students to pursue STEM degrees.
Now that we know what STEM is and why it is so important, it’s time to understand why you should open your STEM Education Franchise!
Education franchises are on a rise, and while there are many benefits of opening a STEM Education franchise, here’s a list of the top 5 reasons:
Unlike other educational programs, the study of science, technology, engineering, and mathematics (STEM) is wide-ranging and expansive. Possible STEM modules and workshops are innumerable, varying with an ever-changing marketplace. There are also many popular educational kits/resources including Lego EV3, Arduino, Raspberry Pi, and 3D printing.
The National Science Foundation predicted that 80% of jobs in the future will require professionals to have science or mathematics skills.
The proliferation of technology in recent years—such as the Internet of Things, 3D printing, robotics, and automation—makes it clear that jobs related to these technologies will continue to grow in demand.
Consequently, training in such technologies is an excellent opportunity for entrepreneurs hoping to remain relevant in the job market.
Numerous individuals interested in entrepreneurship believe that competition is fierce for nearly every business. Likewise, the education industry in the USA is highly competitive, but the field of STEM education is newer than other industries. This means that you can reap great rewards by starting a STEM Education Franchise without expending as much energy.
With such vast options and high demand, a STEM Education Franchise possesses a great business opportunity that can be unlocked with the right systems and processes. You’re not only building a business that brings great revenues but also powering the building blocks of the future. These kids with advanced education will go on to build the next big things!
Parents are interested in interdisciplinary learning that involves science, technology, engineering, and mathematics concepts, because this kind of training gives their children an edge over their peers.
Instructors can use educational kits to teach such concepts without making them feel overwhelming. The kids involved in this training become more innovative than others as they enhance their communication, teamwork, leadership, and problem-solving skills.
You must be wondering if this is such a great market, why go for a franchise and not start something on your own? Well, let’s answer that question too!
Starting a new business involves ideation, market research, and promotions. The most challenging stage is choosing an appropriate business idea, especially ones related to education or other amenities for children.
You can cut down on these steps if you connect with an already established brand, such as iCode. It’s like getting a formula that industry experts have already tested. This minimizes the risks often associated with startups.
The franchisor will provide you with ongoing technical support, marketing support, and training. In addition, they will also give you access to a network of other franchisees that can help you as you develop your business.
When you partner with a franchise brand that already has a proven business concept and operating model, you will have a lower statistical risk of failure. Building a customer base is one of the most difficult things, but it’s much easier when building off of an existing brand.
By associating with a well-known brand, you can focus on the production aspects of your business while still utilizing the support that comes from working with a reputable company. You don’t have to worry about building a brand and winning people’s trust as with a new company.
It is not an issue if you have no prior experience owning or managing a business. When you join a well-established STEM Education Franchise brand, the franchisor will provide the necessary training and support; thus, even if you have no experience, you can still be successful!