Starting a business has never been as fraught with risks and peril as much as it’s now due to the uncertain economic conditions of the pandemic. However, multiunit franchisees are aware that franchising an after-school STEAM franchise, like COMPCUHILD, provides built-in security.
That’s because we’ve done most of the legwork in implementing the systems and marketing. Our corporate team stands behind our franchisees for training, support, and business development to help them succeed in such trying times.
COMPUCHILD has seen success in the past few years, especially during the pandemic. We’ve bagged the ‘Best Low-Cost Franchise to Buy’ and ‘Franchisee Satisfaction’ award by 2020 Franchise Business Review and Top Emerging Franchise of 2021 by Franchise Gator.
Here are 3 things you should keep in mind before purchasing a franchise during the pandemic.
Target Essential Businesses
Some businesses didn’t close down during the pandemic because they were essential businesses with the best chance to endure. While essential businesses vary by state, they generally include healthcare, delivery services, grocery stores, food production, auto repair, government, pest control, transportation, and education.
Get to Know the Franchisor and Their Processes
It means that after you’ve narrowed down the list of essential businesses you’re interested in investing in, you can read about the people who own the business and how they run it. Check if their SOPs match your business ethics and processes. You can meet with the franchisor and ask them questions like, what sets your business apart? What can I do to succeed? What’s the rate of failure?
Evaluate How the Franchisor Responds to Crisis
Get in touch with other franchisees and find out about their experience with the franchisor during the pandemic. Ask them about the steps the franchisor took to ensure that all franchisees were given emergency support.
Ms. Shubhra Kant is the president of COMPUCHILD. She believes that helping her franchisees navigate the complex waters of the EdTech industry has been her rewarding achievement.
The pandemic required dynamic leadership, and Ms. Kant understood that the solution to the crisis was quick adaptability. That’s why she quickly moved to online modes of education. The franchisees enabled the students to take the robotics kits at home to build models while the instructors helped them with the programming aspect remotely. COMPUCHILD even deferred the monthly fees for franchisees experiencing a financial crunch.
You should remember that franchisors will always want you to succeed. Therefore, their model of crisis management can help you evaluate if the franchise is worth investing in.
Low-Cost High-Profit STEAM Education Franchise Opportunity
COMPUCHILD offers a unique Entrepreneurial STEAM™ education low cost franchise that uses the creative expression of the arts to teach complex concepts of STEM. Our Impactful Blogging and Animation Creation programs provide technical knowledge infused with a creative expression so that students can learn to code, program, and communicate in a fun way.
COMPUCHILD is one of the least expensive educational franchise in the US and Canada. Get in touch with COMPUCHILD to start a profitable franchise business under $30k.
Find out more about STEM franchise opportunities here.