TCY adopts Franchise Fee Refunds After 1 Year If franchise Location does'nt work : Another Franchise Strategy To Woo Franchisees

TCY Scouts For Business Partners, Offers 'Zero Investment Loss Risk'

TCY is taking the risk out of franchising. Offers to refund 'License Fees' if the franchise doesn't take off.

Ludhiana, Punjab, March 8, 2010- TCY, the education services company, has unveiled a franchising model wherein a new franchisee enters the business with 'zero investment loss risk'. The company is now offering a clause in the contract wherein a new franchisee can exit the business without having to bear the licensing fee costs. TCY is currently operating more than 32 franchisees across North India and is looking for partners in Haryana, Himachal Pradesh and J&K.

Aman Bansal, the business head of franchising division of TCY said, "Franchising is a proven and replicable business model but sometimes doubts remain in the mind of the potential franchisees. With our new contractual clause, if a franchisee wants to exit the business within one year of start of operations, we will refund the entire licensing fees." The two major initial outlays of starting a franchising business are the infrastructure costs and licensing fees. In the event of a franchisee location not working out, the company will refund the licensing fees while the infrastructure will remain with the franchisee.

The company has been in the business for more than twelve years and has developed an efficient franchise business model which has proven to be robust and scalable. In fact, many franchisees that originally started out with one centre are operating multiple centres now. Another advantage for the potential franchisee is the instant brand recall that he would get by associating with an established business brand. Since TCY bears all the advertisement costs, the publicity costs are also greatly reduced for the franchisee.

Notes to Editor

About TCY

TCY, also known as Top Careers and You, is one of India's most admired educational services providers in the education franchise industry. Its English coaching arm, BetterThink, has coached more students than any other entity in India. Operating with a hybrid offline as well as online model, TCY has carved out an identity in test preparation sector. TCYonline.com, the website of the company has over 7, 50,000 students from more than 1500 cities and town of India enrolled on it. On the website, students can take free tests from more than 50 categories. National Benchmarking Test (N.B.T.), a school programme by the company, has received rave reviews from schools across India.