Two New Jersey Education Franchises to Invest in 2023
Quietly, New Jersey ranks as one of the top states for educational investment with having received multiple awards and recognitions in various educational rankings studies. Some of the best and brightest students in the U.S. live in New Jersey, and many are ambitious enough to seek additional tutoring, making education franchises in New Jersey a solid investment for 2023.
According to Fortune Business Insights and Globe News Wire, the global private tutoring market size was between USD $92.59 billion and $124 billion in 2020. Analysts predict the market will grow to between $172 and $202 billion by 2028, at a CAGR of 8.3%.
The key market drivers for private tutoring demand are largely the return to pre-pandemic levels of in-person tutoring. However, online learning continues to grow and is expected to parallel in-person tutoring’s growth. While many parents and students have found that online education by itself may not be ideal, online tutoring can provide an ideal complement to in-person education and represents an additional revenue stream for education franchises.
Check out these two New Jersey education franchises poised to grow in 2023 and beyond:
Eye Level Learning Centers
Based in Ridgefield Park, New Jersey, and franchising since 1991, Eye Level Learning Centers has grown to 1,495 tutoring franchise locations around the world. Eye Level franchisees provide math and language education to more than two million children in 20 countries. Startup costs to open an Eye Level Learning Centers franchise begin at $75,000. To learn more about a franchise opportunity, click here.
Huntington Learning Center, Inc.
Based in Oradell, New Jersey, and franchising since 1985, Huntington Learning Center, Inc. has grown to 285 locations. Offering tutoring and test prep services in reading, phonics, study skills, mathematics, and related areas, Huntington provides parents with different ratios of students to teachers such as 4-1 and 1-1. Startup costs to open a Huntington Learning Center, Inc. franchise begin at $65,000. To learn more about a franchise opportunity, click here.