I was especially intrigued by the franchising idea for primary schools. India has a similar system of privately franchised schools. I want to hear more about the realization of this initiative. How do you propose to engage these school entrepreneurs, as in where is the incentive to invest?
Also, behind the franchise, what is the unique educational value for the students?
In Ghana, especially, franchising is even more interesting. Unlike in India where education should legally be run as non-profit, schools in Ghana can register as a for-profit business. We do have three ways: schools we are starting on our own. Then those existing schools who would acquire our franchise package (brand, enhanced curriculum, teacher training, access to third party financing etc). We then charge them royalties (a percentage of their revenues). Our third option, is where we co-own the schools with existing proprietors. In that case we acquire a stake in the schools.
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Dear Ken
This was a great entry!
I was especially intrigued by the franchising idea for primary schools. India has a similar system of privately franchised schools. I want to hear more about the realization of this initiative. How do you propose to engage these school entrepreneurs, as in where is the incentive to invest?
Also, behind the franchise, what is the unique educational value for the students?
Dear Fran,
In Ghana, especially, franchising is even more interesting. Unlike in India where education should legally be run as non-profit, schools in Ghana can register as a for-profit business. We do have three ways: schools we are starting on our own. Then those existing schools who would acquire our franchise package (brand, enhanced curriculum, teacher training, access to third party financing etc). We then charge them royalties (a percentage of their revenues). Our third option, is where we co-own the schools with existing proprietors. In that case we acquire a stake in the schools.
I will be glad if you norminate my entry!
Ken