Do you want to ?
Benefits of being a Franchise of VistaMind
What it takes to be a business partner ?
1. History of VM
VistaMind started its operations in 2012 across 6 cities in the country including 3 metros. The cities are: Bangalore, Kolkata, Chennai, Lucknow, Kanpur and Mysore.
It has been started by a team of 5 IIM/XLRI alumni members with over 60 years of MBA training experience. They have trained more than 1,35,000 students and sent 1,000s of them into the IIMs in the last 10 years, before starting VistaMind. The team was running the franchisee of T.I.M.E. Pvt Ltd in the same cities before they launched their own brand.
VistaMind opened its first franchisee centre in Nagpur last year and wishes to appoint franchisees for key CAT markets now.
2. What are the courses for which I can get the Franchisee?
VistaMind has the following products:
Based on the interest and investment ability, franchisee for one or more of these products can be offered.
3. On what parameters will I be evaluated on pre and post applying for franchise?
A franchisee will be evaluated on
An existing Franchisee of non-competing coaching centres may also apply.
4. What is the scope of success in being a franchise?
With proven methods and systems in place, guidance and regular support from the franchisor, the chances of success improve dramatically while running franchisee operations. However, the franchisee will have to put in the required effort and build a committed and qualified team to ensure success.
5. What level of involvement will be required from the Franchisee?
We prefer the Franchisee to be personally involved in the running of operations. It would be preferable, if the Franchisee is from a Top B-School and/or has teaching experience andhence he can be involved in teaching. He will definitely need to be involved in marketing and promotion of the courses offered.
6. Can I opt for more than one Franchisee ?
We prefer to give a separate franchisee. The franchisee is exclusive for every city provided that the franchisee is able to tap the entire potential of the courses in the city. He has the option of adding more centres in the city. Based on the performance, more courses can be offered to the Franchisee.
7. Will there be any control from HO over my operations?
Our franchisee system will give you a unique opportunity to run an independent operation on your own with training, guidance and support from us. We will be partners in business and instead of controlling, we believe in the principle of collaborating for better performance.
8. What if I do not have any prior experience in this industry?
That will not be a problem at all. Our comprehensive training modules will give you the required knowledge of the industry and equip you with all the tools and techniques to become a successful entrepreneur in the education sector.
9. Do I need to be a management graduate to apply for a franchise?
While, it is not a precondition, we have a very strong preference for management graduates.
10. What are the chances of having a company owned centre in the area of my franchise operations?
We have clearly identified cities where we plan to run franchisee operations and cities which will be company owned centres. Hence there is no chance of having a company owned centre in the area where a franchises operates.
11. What is an average expenditure in setting up and running of business?
The investment required would be between 15-40 lacs depending on the city and time required to break even. This amount includes initial license fee, set up cost, marketing expenses and working capital requirements. We expect the business to break even in the second/third year depending on the performance of the franchisee.
12. What is the system followed on accounting?
The franchisee shall incorporate a Proprietorship or Pvt Ltd company, exclusively for the purpose of running VistaMind franchisee. All the accounting will be done at the franchisee level and all the staff members will be on the payrolls of this company.
After payment of Service Tax and Royalty, the franchisee shall use the remaining funds to meet all his expenses.
13. For how many years will the agreement be valid?
The agreement will be valid for a period of 3 years and can be renewed further. The License Fee payable on renewal is fixed at the start only and is at a discount to the initial licensee fee.
14. What are the payments to be made to VistaMind by a franchisee??
A Franchisee pays an upfront License Fee for taking the Franchisee. After starting the operations, the franchisee pays royalty on fee collected and royalty on material. All the training, guidance and support provided by VistaMind as specified in the franchisee agreement, will be done at the cost of VistaMind. For any other support, the Franchisee will be required to pay at cost.
15. Can a franchise be applied by an individual or a group or a trust?
While we prefer to give franchisee to individuals, in special cases we can look at more than one partner owning running the centre. We do not give franchisee to Trusts.
16. What support is provided by the HO?
On signing of the agreement, the Franchisee shall received an Orientation Training at our Head Office in Bangalore where he would be given general overview of business, product training, systems training (including our website, online student management and indenting process, mobile apps, etc) marketing strategies, accounts and taxation and admin training.
The Franchisee shall be allotted one dedicated Franchisee Manager who will be their one point contact for all requirement.
VistaMind shall assist the franchisee in identifying the right location and people for starting the operations.
Once the team is in place, VistaMind would provide marketing, counseling and academic training at Franchisee location.
VistaMind would assist in devising a launch strategy and execution of the same
VistaMind would provide all its software, systems and processes for running of the operations
The entire study material for all courses and artworks for marketing activities will be provided by VistaMind.
17. Why should I take VistaMind franchisee as against any other MBA coaching institute. ?
As the promoters of VistaMind have themselves been franchisees in the same business for more than 10 years each, they understand the Franchisee and his requirements better. Hence, we have come up with a Franchisee plan that is best suited to the franchisee:
Business Partner Proposal
About VistaMind - Strong past and a promising future
VistaMind started its operations in 2012 and operates in 10 cities, including 3 metros, today: Bangalore, Kolkata, Chennai and Mysore are company operated centres and Lucknow, Kanpur, Nagpur, Shahjahanpur, Jhansi and Siliguri are our franchisee centres.
VistaMind has been started by a team of 5 IIM/XLRI alumni members with over 60 years of combined MBA training experience. They had trained more than 1,35,000 students and sent 1,000s of them into the IIMs in the last 10 years, prior to starting VistaMind. The team was running the franchisee of a leading CAT trainer in the country in 6 cities across the country before launching their own brand.
In a short span of less than 2 years, VistaMind is already the most talked about MBA training institute in the country. In its first year itself, 176 students of VistaMind have received 544 final selections into IIMs alone in CAT 2012. This means that about 6% students joining the IIMs this year for 2013-15 session are VistaMind students. The results of CAT2013 are very encouraging and the number of final selections in IIMs this year is expected to be much larger.
VistaMind has more than 36,000 likes on our facebook page (www.facebook.com/VistaMindIndia), more than half of our competitors who have been in the market for about 20 years.
Our monthly magazine VistaCareer has been very much appreciated by the students and is given free of cost to all the students. Its online version can also be freely downloaded from our website.
For more details: http://www.vistamind.com/about-us.html
Why Join VistaMind?
Best Trainers and Mentors
VistaMind gives the students the best team of faculty members and mentors in India who share their expertise personally and through a new model of learning. Our online classes/workshops ensure that the students learn from the best faculty members at their centres as well as across the country.
Mentored Learning not just Coaching
Most coaching centers just give you material and put you in classes. At VistaMind we have developed a unique model, which focuses on the actual learning of each student, a learning model focused on YOU. The process highlights are: