2019, significant year for Wall Street English franchising!
Wall Street English has successfully ended the year opening more than 20 centers and a new territory. Factors such as proven business model and high satisfaction among both students and franchisees are key to success. Also, the English Language Training market benefits the brand development, as the demand of English learning increases all around the globe.
English Language Training (ELT) is a large and growing market opportunity. Urbanization, population growth, and global mobility have greatly increased the demand to learn English. Another factor is that technological innovation makes the world increasingly connected, which further drives industry development and expansion.
According to the Global English Language Report, 70% of the global workforce are already learning English or planning to learn. There are 1.4 billion potential learners worldwide, and the ELT market is expected to reach $50 billion in 2023 — a projected growth rate of nearly 80%.
Recent development and future plans
Wall Street English has opened 21 new franchise centers since January 2019, including their first center in Mongolia and second center in Spain. Establishing business in these areas will serve as a starting point for further development and provide opportunities for future growth.
Additional centers include five in Italy, four in France, three in Saudi Arabia, two in Chile and Thailand, and one in Indonesia, Vietnam, and Tunisia. These new locations have the capacity to educate more than eight thousand new students. Over 25 more centers are planned to open in 2020 across a variety of countries around the world.
Negotiations are underway to open in other countries as well, particularly within Africa and the Middle East. Wall Street English is also engaged in conversations for entry into Taiwan and Poland, plus continued development in Spain.
These projects demonstrate the amazing opportunities in a growing ELT market for both new investors and current partners of Wall Street English. In fact, many partners experience such positive results that they invest further and open more centers. These partners trust Wall Street English and have confidence in the ELT market.
A proven business model for investors
The history of Wall Street English demonstrates longevity and stability. The very first center was opened in Italy in 1972. After almost five decades, that center is still around in its original location and attracts over six hundred new students every year.
Their reliable business model has allowed the company and its franchisees to successfully enter new markets, expand in current territories, and consistently grow their student base.
When speaking about the business model, Natanael Wright, CEO Wall Street English France explains: “It works all over the world, so there must be something about the concept! It is not easy to get a business that has a brand which pursue to be the no. 1 in the market, a concept that works, profitability and cash.”
By providing ongoing investment in the service, technology, and overall business model, Wall Street English constantly focuses on reaching high satisfaction among both students and partners. They are able to expand their footprint, allowing more people to benefit from their learning method.
Great opportunities worldwide
The global ELT market is growing and Wall Street English is in an ideal position to continue to leverage that growth. Their history and reputation, along with their proven business model, provides investors with confidence and a strong return on investment.
Future centers are poised for success. Lex Baker, the New Business Development Director at Wall Street English, put it well: “I think the most important thing that the investor needs to know is that you are buying into an industry that works, you are buying into a product that is leading the market and we continue to invest in it. And then you are buying into 40 years of knowledge and a team of people who are going to support you to make sure it works, because obviously we’re also interested in growing our business so we can’t let people fail. So when you buy in, we’re buying in with you and we’re going to make it happen.”
The Global English Language Report demonstrates that better English language skills can greatly improve career prospects and economic opportunities. Many Wall Street English partners find that incredibly rewarding because they operate a business that gives back to their communities.
As Sahal Hefzi, CEO Wall Street English Saudi Arabia, said: “A great happiness when you go to the center and you see that students are learning English and you feel you are doing something for your society.”