Bangkok--2 May--KASIKORNBANK
KASIKORNBANK and Kumon – a world-class education franchisor from Japan – have unveiled a collaborative effort to support the opening of tutoring schools under the Kumon franchise brand. KBank will grant up to 70 percent of investment value without the need to worry about collateral. The partners aim to see 22 additional Kumon branches open in Bangkok and upcountry, bringing the total number of Kumon centers to more than 500 in 70 provinces nationwide by year-end.
Mr. Surat Leelataviwat, KBank Executive Vice President, said that Thais place great importance on education, as evidenced by parents eager to invest in their children's education, whether at traditional schools or private tutoring schools. Competition in the tutoring business has thus intensified. In the educational franchise business, there are currently 98 franchisors, with market turnover of around 42,500 million Baht in 2019, representing 17 percent of the total franchise business market value in Thailand. Secure franchise brands with bright prospects are crucial for those interested in owning and operating a franchise business.
In cooperation with Kumon (Thailand) Co., Ltd., the world's largest after-school education franchisor having the world's fourth highest number of branches after leading retail and restaurant franchise brands ranked by www.res.cloudinary.com, KBank offers KBank Franchise Solution to those interested in opening a Kumon center or to Kumon franchisees in improving their existing centers. Under this financial support program, KBank will offer loan up to 70 percent of the total amount of investment and a borrower can choose a maximum installment payment period throughout the franchise agreement term without the need to worry about collateral, thanks to a credit guarantee by Thai Credit Guarantee Corporation (TCG) along with fee at a special rate if the loan application and credit line are approved by September 30, 2019. For more information on KBank franchise credit, please call our Vendor Business Management Unit at Tel. 02-8674298.
Mr. Noboru Takahira, President of Kumon (Thailand) Co., Ltd., said that Kumon is a Japanese learning process invented over 60 years ago and is famous for developing skills in mathematics and foreign languages to students. Kumon center has expanded rapidly in both Japan and other countries. Currently, we have more than four million students and 25,000 centers in 50 countries. Kumon is an education franchisor having the world's highest number of branch. Kumon first entered Thailand in 1991 and there are over 96,000 students attending courses at 483 Kumon centers here now. We are dedicated to fully pursuing the potential of each individual student along with improving our courses and instructors. Kumon places importance on our students, thus enabling us to be resilient despite intense competition in the market.
KBank's franchise cooperation with Kumon demonstrates the Bank's intention to expand its business into the thriving education market. KBank will be the key partner in providing financial support to interested investors. This year, Kumon expects to add 22 branches in Bangkok and upcountry, expanding the Kumon network to more than 500 branches in 70 provinces nationwide. Investors interested in joining the Kumon franchise network can contact tel. 02-626-6555, ext. 1453, 1454 or 1455.
Franchise businesses have become more popular as an increasing number of Thais want to be their own boss. The franchise model is an attractive option for aspiring entrepreneurs, because it makes it easier for them to launch their own business with less risk. Moreover, the entry of international franchise brands, diversity of franchise businesses, and financial support from financial institutions are all factors facilitating people in launching their enterprise.
At present, Thailand has around 571 franchise brands. The top-three most popular franchise businesses are food, beverages and ice cream, and education, with market shares of 24, 23, and 17 percent, respectively. Educational businesses have enjoyed the strongest growth at 23 percent. Since parents have devoted much attention to enriching their children's learning experience, education franchise is expected to flourish in the long run, as parents are willing to invest in their children's development. Moreover, good education will improve the quality of Thailand's human resources and enhance Thais' future career advancement.