The company’s 30th territory marks a first step in franchise expansion in the region.
Wall Street English is proud to announce the launch of its first center in the Dominican Republic. This opening is unique in the company’s history as it will be the first to launch completely online! The brick-and-mortar center will then open soon as business returns to normal after the pandemic.
Dominican Republic, 30th territory in the Wall Street English network
Wall Street English is celebrating the opening of its first center in the Dominican Republic. Located in the Novo-Centro business and shopping center in the capital Santo Domingo, the new center will mark the thirtieth territory in the Wall Street English network and the first in the Caribbean.
Yolette Sillery, Master Franchisee of Wall Street English Venezuela, recently signed a franchise agreement to expand the brand further throughout Central America. She says: “Having run the Wall Street English business in Venezuela for over 25 years, I am happy to make this first step of expansion in the Caribbean with our new sub-franchise partner, Gabriel Roig.”
Low levels of proficiency combined with a major tourism industry result in high demand for English in the country, so the strong potential of the market is evident. As Cesar González, new Center Director of Wall Street English Dominican Republic, says: “Wall Street English provides what learners here need, and what other providers don’t offer. I am really excited about the launch! There is clearly untapped demand which our blended solution will satisfy.”
What makes this launch unique
Due to local Covid19 restrictions, the opening of the brick-and-mortar center has been delayed, and until the fit-out can resume, the launch will be 100% online. This will be the first digital territory launch in our 48 year history!
Gabriel Roig, the new sub-franchise partner for the country, reacts to this: “Even if the timing to open our first center comes in a challenging situation, the market is there and we are fortunate to have the Wall Street English online platform and classes for launch, with the center soon following.”
Evolution through the crisis
Despite the unusual environment that the last few months have presented, investors continue to trust our business model, which is evolving further in the light of the crisis – offering greater levels of accessibility to our learners and extending business reach significantly.
Going forward, Wall Street English will permanently deploy the 100% online classes to its master franchisees, thus offering our students the choice to visit classes either 100% online, in-center, or a mix of both. While most of our learners prefer the social interaction, community and personal support that our centers deliver, this added option gives them greater flexibility to progress with their studies, even when they are unable to visit the center for classes.
First milestone of several franchise opportunities in the region
Poor proficiency and high demand for English are common threads across Central American countries. Nearly 80% of the population live in urban areas, and the region has a significant number of cities with populations of more than 500,000. These factors are ideal for the development of the Wall Street English business.
Franchise opportunities are available in Costa Rica, Panama, El Salvador, Guatemala, Honduras and Nicaragua, where our proven business model delivers a multi-center development opportunity with strong returns on investment and solid ongoing profits.
Partners in the region will benefit from the support of a master franchisee with significant experience in the business. Yolette Sillery adds: “These are high demand markets with a real opportunity to expand our brand presence – especially considering that even more flexibility is now offered to our learners through online classes – matching perfectly with what Central Americans are looking for!”
Expanding global footprint
In the last three years, the Wall Street English network has continued to grow, adding over 50 new centers to its global footprint and opening in several new countries. In 2020, where the Covid situation has postponed further launches for now, partners are formulating plans to resume growth and add extra centers once the situation stabilizes. Further new territories are also in planning.
Lex Baker, the Director of New Business Development for Wall Street English International, says: “We know from a recent study that the adult English Language Training market is valued at around US$28bn – 20% of which is online learning. The total market is predicted to grow further by 80% in coming years overall, with both center-based and online sectors increasing in size. Our evolved business model addresses the changing conditions in the industry as well as evolving consumer preferences, and expands our market coverage. It is certainly an exciting time to invest in the industry and our franchise concept.”
Find out more about Wall Street English Dominican Republic: www.wallstreetenglish.com.do.
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