Industry Analysis & Industry Trends
The poor economic environment has hampered demand for the Tutoring and Test Preparation Franchises industry over the past five years. Despite a growing number of primary school and college students, demand for industry services was undermined by a high unemployment rate and low disposable income. In the coming years, industry growth is expected to strengthen as the economy improves. In addition to substantial disposable income growth, which is expected to make industry services more affordable for consumers, the industry will continue to benefit from expanding markets, particularly burgeoning college enrollment.... purchase to read more
Industry Report - Starting a New Business Chapter
The Tutoring and Test Preparation Franchises industry has low barriers to entry. The most significant barrier to entry is competition among industry firms that already have an established reputation for quality. Franchises in this industry rely on their name brand and reputation to attract students investing in their education. However, individual operators are able purchase franchise rights with relative ease and are able to benefit from the company's established reputation as a result.
Capital investment required to start a tutoring or test preparation franchise is relatively low. Besides spending on rent and utilities, as well as the purchase of some computer equipment and software, the majority of industry costs are related to wages... purchase to read more