Career Launcher, a business engine and a wholly-owned subsidiary of CL Educate (NSE, BSE: CLEDUCATE) announced signing up of 8 franchisee centers in Tier-II and Tier-III cities as a part of their plans of adding 200+ partners, and reaching a target of 350+ franchisees by Mar FY23. These newly added sign up includes Patna, Jalpaiguri, Sagar, Raipur, Ahmedabad, Raigarh, Moradabad, etc.
On the occasion, Himanshu Jain, President and COO, Network Business, Career Launcher, said, “CL’s growth story is clearly visible in enrolments and revenue from existing franchisees in the H1 of the current FY. Our Y-O-Y revenue growth is currently at 40% and is expected to reach anywhere between 45-50% in the first two quarters of FY-22. The franchisees are reporting increase in walk-ins, leads, enquiries etc. and the enrolment and revenue figures are comparable to 2019 pre-covid era.” On future plans, he further added, “Our product range is our differentiator and we plan to add over at least 200+ business partners across the country over next 18 months taking the total number of franchisee partners to 350+ by March of FY23. This will lead to an addition of revenues amounting to anywhere between INR 75-100 Crores to existing revenues of around INR 200 crores of test prep business of CL Educate with about 17% EBIDTA margins.”
Speaking about the future of test preparation, Mr. Jain added, “In my opinion, blended learning will be the way to go, where in about 30% of the course will be delivered face to face while 70% will be online. This combination blends perfectly the social and inspiration that comes from physical learning with the cost and convenience benefits of online. Moreover, the teachers will have to evolve to become mentors and coaches instead of spending time, iterating the basics again and again, altogether amplifying the need for this learning module.”
Career Launcher has over 150+ test preparation centers across the country run by franchisee partners who are alumni of leading engineering and management colleges and universities such as IITs, NITs, IIMs, etc. over the past two decades. Career Launcher’s support to its franchisees includes R&D, tech-backbone, business platform, study material and time-tested training and Go-to-market know-how aided with franchisee-friendly policies. The CL franchise partners strongly focus on quality academic delivery complementing it with technology-based systems and processes, ensuring a uniform experience and personalisation to each student.
About Career Launcher: CL is a wholly-owned subsidiary of CL Educate (NSE, BSE: CLEDUCATE), founded by Satya Narayanan R, India’s Ed-tech pioneer. It offers a variety of programs for students aged 12-30, through personalized and synchronous/ asynchronous offerings. Led by a team of highly capable leaders (including IITians and IIMians), CL aims to emerge among the top EdTech players from India who would scale globally. CL counts on two key differentiators – 1. The ability to generate results for students through a scientific data driven process and 2. Robust unit economics and an astonishingly low CAC of 15% against a massive 50-300% that exists for its competitions. With program offerings across various competitive exams including MBA, LAW, IPM, UPSC, CUCET, and International Education, CL’s result-driven approach aims to transform the career dreams of 10+ million aspirants. Over the next 3 years, it aims to engage with over ten million students from the current one million. Deployment of data science, machine learning, and recommendation algorithms (120 Edtech tools) form the business moat for CL with the ability to scale. These tools and engines help in best fit program choice, cost savings and laser-beam mentoring to deliver the best in industry results for students.
Do visit www.careerlauncher.com for more information.