By The Nation
In a press release on Thursday KBank said it will grant up to 70 per cent of investment value without the need to worry about collateral. The partners aim to see 22 additional Kumon branches open in Bangkok and upcountry, bringing the total number of Kumon centres to more than 500 in 70 provinces nationwide by year-end.
Surat Leelataviwat, KBank Executive Vice President, said that Thais place great importance on education, as evidenced by parents eager to invest in their children’s education, whether at traditional schools or private tutoring schools.
Competition in the tutoring business has thus intensified. In the educational franchise business, there are currently 98 franchisers, with market turnover of around Bt42.5 billion in 2019, representing 17 per cent of the total franchise business market value in Thailand.
Secure franchise brands with bright prospects are crucial for those interested in owning and operating a franchise business.
In cooperation with Kumon (Thailand) Co., Ltd., the world's largest after-school education franchiser having the world’s fourth highest number of branches after leading retail and restaurant franchise brands ranked by www.res.cloudinary.com, KBank offers KBank Franchise Solution to those interested in opening a Kumon centre or to Kumon franchisees in improving their existing centres.
Under this financial support program, KBank will offer loan up to 70 per cent of the total amount of investment and a borrower can choose a maximum instalment payment period throughout the franchise agreement term without the need to worry about collateral, thanks to a credit guarantee by Thai Credit Guarantee Corporation (TCG) along with fee at a special rate if the loan application and credit line are approved by September 30, 2019. For more information on KBank franchise credit, please call our Vendor Business Management Unit at Tel. 02-8674298.
Noboru Takahira, President of Kumon (Thailand) Co., Ltd., said that Kumon is a Japanese learning process invented over 60 years ago and is famous for developing skills in mathematics and foreign languages to students.
Kumon centre has expanded rapidly in both Japan and other countries. Currently, we have more than four million students and 25,000 centres in 50 countries.
Kumon is an education franchiser having the world’s highest number of branch. Kumon first entered Thailand in 1991 and there are over 96,000 students attending courses at 483 Kumon centres here now. We are dedicated to fully pursuing the potential of each individual student along with improving our courses and instructors. Kumon places importance on our students, thus enabling us to be resilient despite intense competition in the market.
KBank’s franchise cooperation with Kumon demonstrates the Bank’s intention to expand its business into the thriving education market. KBank will be the key partner in providing financial support to interested investors.
This year, Kumon expects to add 22 branches in Bangkok and upcountry, expanding the Kumon network to more than 500 branches in 70 provinces nationwide.