Find the people who will be passionate about the mission of the business. These are the people who are so crazy about education and kids, they don’t even know yet that they are looking for a business opportunity until the idea is put in front of them.
These are members found in professional associations and parenting groups like the Global Campaign for Education, Parent Teacher Organizations, and The Global Learning Portal, a connecting tool. Their specific purpose is to “facilitate development and education initiatives by linking online educators, international development practitioners, ministries and civil society organizations.”
Find your target market’s local business opportunity seekers. These are the savvy corporate managers and project planners who recognize a good business model when they see one, no matter the industry. Unlike the Passion Players, they are almost always on the lookout for a good deal.
Find these individuals in professional organizations like Chambers of Commerce, Ideas Global, or even Rotary Clubs. This is an ideal place to focus on social media use, searching through Linkedin or Facebook groups.
"With nearly six out of 10 kids involved in extracurricular activities demand is growing for franchised concepts in the areas of music, drama, dance, even cooking"
When you expand with corporate locations, you have to put up the upfront investment, but 100% of the profits come back into the business. I see business owners who have access to more start-up capital using the corporate expansion method for this reason. It also appeals to business owners who are open to giving up equity to investors who help fund the growth.
Where would the global markets be without investors? Most investors are exposed to a concept over time through relationship building. How is a franchisor supposed to create a rapport if he doesn’t even know who the local investors are, where their interests lay, or in which communities they want to invest? According to author Serge Pustlenik, legal fellow and contributor to valuewalk.com, the first stop should be at the bank. Local banks, especially in countries with a less sophisticated financial footprint, play the part of connector when seeking investors.
Pustlenik says, “it is important to incentivize the bank by convincing them that for every dollar their clients invest with you, the bank will earn more money than it would if they kept their assets in the bank.”
Franchisors should create a presentation in the local language, establish credibility by aligning with recognizable financial institutions, and express a sincere interest in the people and culture where they are trying to expand.
According to the National Center for Education Statistics in the U.S., participation in extracurricular activities is strongly associated with educational success as evidenced by participants’ better attendance, higher levels of achievement, and aspirations to higher levels of education. Parents consistently look for ways to explore and ignite the academic and artistic interests of their children.
So, to do their part in meeting parent demands and making a difference for today’s youth, franchisors in the vibrant children’s education sector need to know where to find the right candidates, in order to bring those opportunities to global markets.
Intelligent marketing and careful selection of local market partners is a critical part of successful international expansion for franchise concepts in this dynamic market niche.
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