Hello guys..
I want some views on education industry outlook in India specifically, school level (primary & secondary)…I am thinking of a business where school will pay some amount per student for services provided.. What i am not sure of is the appetite of schools to have paid value added service… Also it would be helpful if we can have a discussion on the business approach of “Educomp”…
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- Education industry outlook in India - February 1, 2007
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Hi Anuj,
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Tough call this one. From a schools perspective what is the additional value add? If I were a school principal (or on the managing committee) I would be hesitant to introduce any new fees to the student – it’s a major pain to convince a large no. of people to even give Rs. 100 more per year. And parents are the first to crib – heck even I used to crib when they would ask me to get my parents to pay for anything, like a mandatory extra computer class or such.
But yes, there is an approach. Think tax exemption – all fees paid for children (fees, not donations or contributions) are tax free in India under the 80C bracket. This should apply even if you charge the parents directly, but you will need to be established as an educational institution. (talk to your accountant)
Also, services provided = what kind of services? Schools will probably evaluate that, figure out if they can provide it in house, and only deal with you if you have a sustainable differentiator…can’t think of much in that department other than vocational courses.
I think all schools have a managing committee which is like a board of directors, and have ultimate decision making authority.
I live in Bangalore and most parents I meet in Bangalore seem to have a constant complaint: schools. From an Indian perspective (those who see themselves living here in India for the rest of their lives), it seems like having a govt. curriculum is essential (not the international school types). Add other worries of having a school that is in the vicinity of where they live, vicinity of where the parents work etc. etc. There is a very big gap to be filled.
It seems like you do not need to consider catering to a population where you need to pay for their education. I believe good schools for a population that is willing to pay is still not solved.