” We plan to expand aggressively in the coming years through the franchise model. We plan to expand to top 30 cities in India by 2014. The outlets in Delhi/NCR and Mumbai will be company- owned and operated; the rest will be franchisee-owned and operated under license agreement with SPACE.”
– Amit Verma, CEO , Space Technology & Education Pvt. Ltd.
Q1. What is the story behind Space Technology & Education Pvt. Ltd.? How it started and what is the inspiration?
Ans. Our inspiration has always been sky and space that has excited humans in many ways.Space has combined the business with a noble and philanthropic cause of science popularization. We truly believe that business should work in the larger interest of the society as social and scientific development leads to development of mankind at large.
According to the Constitution of India, It shall be the duty of every citizen of India to develop the scientific temper, humanism and the spirit of enquiry and reform.
Space Group was formed in 2001 with the aim of changing the science and astronomy education and entertainment landscape in the world through path breaking and innovative concepts, services and programs.
The change brought by SPACE is –
I read = I learn TO I do = I Understand
Science is a subject TO Science is a Tool I have.
Learning science through experimentation means labs and sophisticated instruments.
Learning science through experimentation just needs observation of nature and natural phenomenon.
Space has always focused on Astronomy with hands on activities as the medium to encourage interest and foster curiosity in science at the school level. We are working at the grass root level. Our programs provide opportunities to do and learn and all the while in a fun and easy way.
Q2. What are the services and products that Space Technology & Education Pvt. Ltd. deals in?
Ans. Products and Services in the field of Space science and Astronomy, in the Education, Tourism, Planet aria domain, like:
- Space Astronomy Club.
- Explorer Hands on Workshops
- International Astro-Tours
- Domestic Astro-Tours
- Centre for Student Excellence
- Corporate programs
- Sale of Planetarium
- Sale of Telescopes and related products
- Execution of Government contracts
- Astronaut Training
Q3. What strategies you employ to maintain the standards of your company?
Ans. Focus on quality of session delivery, teacher training and effective client feedback are our methods to maintain standards. This is augmented with surprise client visits and partner office visits by quality control staff from H.O.
Q4. What are the future expansion strategies?
Ans. Our future expansion strategies are completely based on Franchise Business to replicate the line of business. Also, to extend our reach by creating scientific awareness into the schools, colleges, educational institutions, government projects, corporate and other masses throughout PAN India.
Q5. What motivated you to go for franchise route for your business expansion?
Ans. We want more and more entrepreneurs to join this industry of astronomy and space sciences and the best way to grow it was to go the franchise way.
A franchise owner discovers the personal rewards of owing a business with the power to change the lives of thousands of children and masses and contribute to the development of the nation through science popularization.
Q6. How many centers of Space Technology & Education Pvt. Ltd. are currently in operation, and how many of them are running through franchise?
Ans. SPACE has its head quarters located at Delhi in India. And, also we have one existing Franchise office in Chandigarh, Punjab.
Q7. What are the basic requirements to become a franchise partner of Space Technology & Education Pvt. Ltd.?
Ans. Basic requirements which are required to become a franchise of SPACE are:
- Should share our vision
- An ability to meet our financial and operative requirements
- An entrepreneurial frame of mind.
- Should be growth oriented
- A capacity to create and manage an organization effectively.
- An ability to motivate and train people.
- Preferable full time development
Q8. What kind of support and training you offer to your franchisees?
Ans. Our Franchise will receive a complete support throughout their venture.
We would like to enlighten some of the benefits here:
- Access to a proven business model
- Low investment and high returns
- We have an easy to run operation
- Full support and pre-designed curriculum, books, study material, prospectuses, advertisements and marketing materials.
- Expert guidance and support from corporate headquarters and other franchises
- Fast launch of the project by our team of experts.
- Pre-designed & planned promotional campaign for aggressive launch of the business
- Leverage of the knowledge gained in the industry with the team of Researchers, Amateur astronomers, PhD’s and MBA‘s
- New franchisees will go through an intensive and focused training that will acclimatize them into the SPACE way of work.
- It will cover the business, educational and cultural aspects which ensure that the new franchise owner is made a member of the SPACE family before he takes up his new venture.
- The company will train the employees of the franchise to enable them to perform their roles well.
- Special training emphasis would be on Sales training and Educator’s training.
Q9. How does the brand’s franchise model could benefit aspiring entrepreneurs?
Ans. For aspiring entrepreneurs who want to start businesses with a proven track record and security, often franchising is their best option. Owning a franchise is based on an already existing business model that, in most cases, has worked successfully for other entrepreneurial individuals
The advantages of SPACE’s franchise model are.
- Lower Overhead Costs
Nationwide purchasing of technical products and in house development by us saves franchise partner effort and money.
2. Brand Recognition
SPACE is a recognized brand Education sector and is covered extensively by media. Partner joins hands with an established name and will take a jump start in the market
3. Training and Support
In house training and subject matter experts are available that conduct complete training for all staff members and work on periodic upgrades.
A special team focuses on partner support and takes care of training, guidance and day to day management support to the partners.
4. Outreach to the existing clients
SPACE has pan-India network of schools associated with us through various initiatives of SPACE like competitions, projects, workshops, programs.
5. Widely distribution of business network i.e. National and international level
SPACE is associated with many known companies, schools, government agencies, space agencies etc worldwide that provides a vast network to the partner to connect with and grow.
Q10. How do you analyze this sector?
Ans. Education industry is the evergreen industry of the nation and is growing by leaps and bounds every year. Private and Government funding are increasing and focus is on skill development, quality education and new/niche ideas.
Space industry is also growing globally, especially in the domain of space tourism. Indian companies and ISRO are also investing resources to develop R&D centers, applications, launch capabilities and there is high demand of people who are skilled in the subject.
Q11. What kind of opportunities and challenges are laying ahead in this sector, considering the franchise sector, which is getting bigger with time?
Ans. Opportunities and challenges into this sector.
Opportunities are huge; with growing demand and an increasing purchasing power of the middle class, people are looking at innovative and quality products and services. The acceptance in the market is quicker and higher.
The challenges are that Franchisee and Franchisor should share the vision of the brand and must be associated in strategy in the same direction. Business and personal aims should overlap and the relationship must be governed by trust. Franchisor is the experience holder and the expertise holder and that is the guiding light of running the model.
Q12. What are the future plans for next five years?
Ans. The company plans to be present pan-India with 30 plus offices spread across the nation. It is also planning to start its international foray in the coming years. And, through its planetarium concern it plans to install 50 planetariums across the country in the next three years. AstroTourism division is on an upswing mode.