Before purchasing a tutoring franchise, make sure to do your research. There may be a low-investment alternative that ticks all the boxes and will achieve your goals.
Tutoring Industry Overview
Current events are creating a high demand for tutoring franchises. Attending school remotely was tough for many children. Following the pandemic outbreak, nearly 93% of United States households with children participated in some form of remote schooling. Despite a valiant effort by teachers, many children fell behind. On average, students were five months behind in math and four months behind in reading at the end of the 2021 school year, a report from McKinsey & Company revealed.
The tutoring industry is rising to the challenge and filling the gaps for children who faltered. Parents are willing to invest to improve their child’s academic skills and self-esteem. The global value of the tutoring market is forecast to jump 9.2% to $174.65 billion by 2028, according to Facts & Factors, a market research organization. High school students are the largest tutoring market as they strive to stay competitive in the college application process.
The franchise industry offers numerous in-person and virtual opportunities at a variety of price points for entrepreneurs who want to tap this lucrative market. Owners of a tutoring business invest in a franchise with brand recognition and reap the rewards of being a positive role model in a flexible work environment.
Downside to a Tutoring Franchise
If you are considering opening a tutoring franchise, you may want to pause. There’s a downside to the tutoring industry. Most states require tutoring franchises to hold special certifications and licenses. Weeding through the red tape can be challenging. Similar to the experiences of public school teachers, tutors have to deal with demanding parents and unmotivated students. It can be a struggle to meet expectations, and finding the right tutors to get the job done can be difficult. While virtual and at-home tutoring options are available, the major players in the franchise tutoring industry require costly brick-and-mortar locations, making the average initial investment around $150,000, depending on the location.
Wedding Franchise Offers an Affordable Alternative
If the high price point of a tutoring franchise is making you rethink your decision, it may be time to explore other business investment opportunities. There are many low-investment, high-reward opportunities in the franchise industry that offer both flexibility and profitable returns.
Complete Weddings + Events specializes in creating awesome experiences for once-in-a-lifetime events. In addition to tapping the $72 billion wedding industry, Complete Weddings + Events provides year-round event planning services for a variety of special occasions. Having all of our services under one roof ensures a seamless planning experience for customers. Complete Weddings provides the tools, software, collateral, and support to ensure our partners learn about the wedding industry and establish a profitable business.
Complete Weddings franchisees get to unleash their creativity to help people make memories. “I love being able to be a part of the most important day of people’s life. If you’re smart with money and good with people, the profit margins with a Complete Weddings franchise are hard to beat,” said Chase Lee, a franchise owner in Baton Rouge, Louisiana.
As the nation’s leading event planning franchise, Complete Weddings made the list of the top 20 franchises for less than $75,000, compiled by Entrepreneur magazine. The total initial investment for a Complete Weddings franchise starts at just $57,270, including a $10,000 discount as part of the company’s Incentive Program. Without the hassle of a storefront, Complete Weddings franchise owners get the tools to help people plan fun events to celebrate key milestones.
