We recently sat down with Sharon Peterson, Franchise Sales Director for Best in Class, to talk about the Best in Class business model and the industry their involved in.
Best in Class is a highly sought after education franchise, specific to children’s supplementary education. In the Q&A below, we ask Peterson more about the industry and why NOW is the perfect time to join the Best in Class franchise team.
Give us an overview of your industry (and why it’s such a great industry to start a business in)
Because of rapidly growing class sizes, limited number of teachers, and restricted flexibility to tailor the curricula to each student, many students are relying on supplementary educational programs to continue to progress or achieve their personal goals.
“The U.S. has a total of 55.9 million students in public and private elementary and secondary schools as of 2010, and the total number of students is projected to set records every year until 2018.” - U.S. Department of Education, Digest of Education Statistics 2010
How has the education industry changed in the last 10-20 years?
The education industry has changed mostly because of the demand for tutoring services. We have seen it grow in demand and scope. Tutoring is no longer for a handful of students shoe are behind in school.
For many families, it is a necessity to help their children stay ahead and stay competitive in school. We have students who are grade levels ahead in school and still come to us for a challenge, and we have others whole attend class because it keeps them sharp in school. It is becoming a lifestyle for many families because schools are no longer enough to fill their needs.
What trends do you see in your industry over the next 5-10 years?
There will continue to be an even stronger demand for supplementary education programs for students over the next 5-10 years.
What is the biggest concern about the education industry that a franchisee should be aware of and investigate?
It is important to stay aware of trends in education, including the movement toward Common Core education standards, more emphasis on critical thinking and analysis, etc. It is also important to stay up-to-date on the changes happening to standardized tests. Our franchisee candidates need to be passionate about helping students succeed and need to be adaptable to suit students needs.
Why do you think Best in Class stands out in the education industry?
Our diverse programs allow our franchisees to target a broader market. Best in Class caters to students from age 3-18, and our diverse programs include: math and English enrichment programs, private tutoring, ACT, SAT, college preparation courses and gifted test preparation courses. By offering numerous programs, our franchisees benefit from several revenue streams.
What makes your business more attractive than others?
Best in Class offers diverse programs, while many of our competitors solely focus on one subject or offer one service, Best in Class Education provides the best of both worlds. As a company, we are passionate, energetic, positive, efficient, collaborative, and adaptable. These traits help keep us competitive and allow us to constantly update our material to provide the highest quality tutoring services.
Our teachers work closely with our students reviewing their work and answering their questions. Our proprietary curriculum not only promotes retention it also promotes creative thinking. With the national movement toward Common Core standards, it is more important than ever to focus on critical thinking and analysis skills. We have also developed proprietary software that helps reduce overhead, minimize cost, maintains student retention, and allows our franchisees to operate a seamless education center. As a franchisor, we are there for our franchisees every step of the way.
Describe the ideal candidate. Do you think your requirements are any different than your competitor/s?
We are looking for candidates who are positive, energetic, adaptable, collaborative, and efficient. Our ideal candidate has a passion for education. They truly want to make a difference in the lives of children and create a lasting impact in their community. When we are working with our potential franchisees, we get to know who they are and work together so we can help them achieve their personal goals.
Describe the working environment of your franchisees (indoors, home office, mobile, etc…). Is your environment typical of other companies in your industry?
The typical Best in Class center is a fun, rewarding, and warm environment. Our centers are typically located in retail shopping areas that are convenient for families. Our flexible business model allows our franchisees to work part-time hours for a full-time income.
Why has Best in Class been successful?
Our management and instructional teams are comprised of energetic, passionate, and dedicated individuals who share our same mission.
Because of our seasoned experience in the education industry, we know what tools and resources we need to provide to our students and our franchisees so that they may both succeed.
What advice would you give someone interested in buying a franchise in your industry?
Do your homework. Truly get to know the team that you will be working with. This is a partnership and an investment. Make sure that the company you are working with will support you throughout the process and provide ongoing support.
How much experience in this industry should a franchisee candidate have should they consider buying a franchise in your industry?
Our franchisees are not required to be certified teachers, however we prefer candidates who have experience in the education or childcare industries. We search for entrepreneurs who have a passion for education, a Bachelor’s degree, and seasoned business experience.