Three Self-Education Industry Predictions For The Coming Years

Founder of Keir Weimer Multimedia, real estate & lifestyle entrepreneur, No. 1 bestselling author, keynote speaker & high-performance coach.

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We currently live in a world that is rapidly changing on a near-daily basis right in front of our eyes, forcing us to adapt and pivot in ways that we haven’t had to before. The key to surviving and thriving in this time of extreme change, uncertainty and disruption is being able to be flexible and proactive.

One area that is changing very rapidly is the self-education industry.

One of my companies is a multimedia business in this space that educates, trains and equips people in various ways and areas through coaching programs, digital courses and events. What we have seen in the past few months since the pandemic hit is increased demand for our programs and more and more people searching for ways to retrain and reposition themselves professionally and personally for this next chapter. Most industries are undergoing an unprecedented and forced transformation, and companies are having to adapt their business models to survive.

The following are my top three predictions for change in the self-education industry in the coming years from what we are seeing on the ground right now.

Demand for specialized programs, coaching and training will grow rapidly in the new economy.

If you look at the trendline for new enrollments in traditional education in the U.S. since the Great Recession — mostly at the graduate level, but also at the undergraduate level — you will see it declining in many program areas. The traditional proposition of graduate education, in terms of increasing your earning power and potential and helping you advance your career, does not hold the same value as it once did. This is due to many factors, including the rising cost of tuition and living expenses, the increasing opportunity cost of leaving behind one’s salary and benefits while in school, and an increasingly uncertain job market upon return with data showing a declining return on investment.

What we are seeing is people are looking for new ways to learn the practical, real-world skills that they will need to get ahead in their respective fields. We are also seeing people wanting to learn from experienced practitioners and gurus in many cases, experientially and through forms of digital mentorship, rather than just from theory-based teachers, who may or may not have ever accomplished the results that they look to achieve in their career and life.

The self-education market and industry has grown significantly over the past few years and is predicted to continue to grow as this trend amplifies further, given the need to find practical skills, experience and opportunities to sustain and/or grow one’s income and marketability in novel ways to get ahead.

Virtual service delivery will be the new norm.

The trend we see is that the service delivery model will increasingly go virtual, leveraging the borderless distribution of knowledge through the internet, by using video and learning management platform technologies to deliver the training and education that consumers demand. Especially given the current pandemic and safety concerns, and with many traditional education programs at universities closing or limiting their in-person training, we see this becoming the standard for how people will self-educate, level up their skills and retrain for new work in this new economy.

Personal and professional coaching programs, digital courses in various subject matter areas, and other self-education modes of service delivery will continue to offer a wide array of independently driven, asynchronous learning opportunities for people no matter where they are located in the world.

Specialization and pricing will rise.

As innovation continues to ramp up and increase at new and exciting rates, so too will the emergence of various micro-niches and other verticals. This will prompt self-education service providers in the space to meet the demand and create new content, programs, products and services for this new level of specialization.

We predict more and more experts and personal brands will emerge to meet this need, and specialization will rise. Because of this and the rising demand, pricing will also likely rise for these programs and services. However, comparatively speaking, because of the lack of physical facilities and the attendant costs, heavy top-down faculty and academic bureaucracies and other high fixed-overhead costs, these prices will likely still be at a discount to many traditional options and alternatives.

These are just a few of the trends that we predict will unfold in the coming years in the self-education industry as the new economy and the new world unfold and present new challenges. But these are also new opportunities for those ready to seize them.

Source: Forbes

Frequently Asked Questions (FAQS) About Education Franchises

Education franchising is one of the most promising businesses in today’s economy, as people tend to nurture their talents to adapt to this changing world. Additionally, education franchises are also profitable due to its low overhead and initial investment fees. Over the years, the rapid development of technology and the COVID pandemic have changed the education industry. The current global education trend is to train and nurture students to adapt to a changing world. STEM education, programming education, comprehensive skills education, etc., therefore attract many investors.
This is an almost impossible question to answer.  Certain industries will definitely average better ROI than others.  It is also typically true that the more you have to invest the more profit you will make.  Education is consistently one of the top performing industries in Asia and without exaggeration a solid place to build for the future.  Asian cultures almost without exception have a huge focus on childhood education, and even as adults, I find most are lifelong learners, always looking to improve themselves.
With low overhead and initial investment fees, the typical education franchise is a profitable investment. The online tutoring market for K-12 students worldwide is expected to grow by 12.75% through 2021. Education franchises are often considered recession-proof, as parents will almost always invest in their children, especially through times of increased educational hardships like the pandemic. Thanks to this ever-increasing demand for education, franchises in the industry are plenty and profitable. Education franchises typically have low royalty fees and initial investment.
There are quite a number of steps to getting an education (or any) franchise.  After an initial discussion to make sure we match up the correct franchise for you and your market, we will collect a signed NDA (non-disclosure agreement) which will allow the brand to share more sensitive information with you.  Also, an application so they have a bit more information about your company and objectives.  Then a 3-way call with us, yourselves, and the franchisor development team.

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