Wall Street English is actively looking for a franchise partner to introduce the brand in Taiwan – a high demand market for English language learning. In spite of the ongoing pandemic, now is a great time to invest in the English training market. Read on to understand why the Wall Street English concept is a great fit for the Taiwanese market.
High Growth Potential in Asia
Founded in 1972, Wall Street English began its expansion throughout Asia in 2020 with China. Right now the business has a sizeable footprint in the Asian continent, currently reaching nearly 1/4 of the network turnover (as of May 2021), in 8 different territories – China, Hong Kong, Indonesia, South Korea, Malaysia, Myanmar, Thailand and Vietnam.
According to New Business Development Director, Lex Baker, “We see great potential to continue to expand our footprint in Asia for the coming years. We’ve already established a strong reputation across the region. Now, we’re aiming at entering Taiwan, a market where we see real growth potential for investors looking for a significant business opportunity”.
Taiwan’s Growing Demand Market
According to a survey conducted in 2018 by Morar HPI (now Savanta), the total private English language market in Taiwan is currently valued at nearly $600 million. Center-based learning is the most popular form of study, followed by online learning, with over 80% of English learners in Taiwan choosing one of the two approaches.
Also this survey shows that 70% of Taiwanese consider they have no knowledge of English or perceived their knowledge to be basic, while 84% indicated that they had studied English in the past.
Additionally the Taiwanese government envisions English being the 2nd official language by 2030. This is backed by another survey, carried out by the Professor Huang Kun-huei Education Foundation in March 2021 revealing that almost 97% of respondents understand the importance to be highly skilled in the English language. (Read this article for further information).
Why Now’s a Good Time to Invest
As mentioned above, the demand for English in Taiwan is expected to grow significantly in the coming years. So why else does Taiwan offer great opportunities to invest in the Wall Street English business?
1. The Taiwanese competitive market for English is fragmented, in both online and in-center learning, presenting a clear opportunity for the Wall Street English model to achieve strong market penetration and leading to high sales volumes.
2. Due to the growth of online learning in the Wall Street English model, the brick-and-mortar concept has been reviewed to improve efficiencies and reduce costs. This has improved the franchise bottom-line performance significantly.
3. As part of a global network, the franchise owners benefit from a proven concept that is resilient and adaptable to face uncertain times. And more importantly, it has demonstrated to be highly suited for the needs of today’s consumers.
The Franchise Opportunity in Taiwan
Wall Street English is searching for a Master Franchisee with the ambition, experience and financial capacity to open several centers in Taiwan over the next 3-4 years.
Research on market potential shows that centers can be opened not only in the Greater Taipei Area, but also in Taoyuan, Taichung, Tainan and Kaosiung, where around 90% of English learners are concentrated.
Successful franchise owners can expect payback on their initial investment within the next 2-3 years, with strong ongoing returns.
Learn more about Wall Street English franchise opportunities in Taiwan.
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