Wall Street English (Spain) Expands with Launch in Mongolia
29 Mar 2019 - New franchise partner Metro Development Group Mongolia eyes further growth across region
Wall Street English announces the launch of a new franchise operation in Mongolia, with the first center due to open in Spring 2019 in Mongolia’s capital, UlaanBaatar.
Launching with partner Metro Development Group (MDG) Mongolia, the new franchisee has signed an agreement with Wall Street English to open a further 4 centers in the coming 4 years in key urban areas across the wider region. Founded in 2000, MDG Mongolia has extensive interests in mining, entertainment and construction and now aims to create economic, social and cultural value for Mongolia through expansion into education.
Mongolia has experienced strong GDP growth fairly consistently since the mid-nineties, fuelled largely by an explosion in mining. As the economy has opened up, demand for English has risen; with English-speakers reporting 25-45% higher earnings than non-speakers. Spanning the territory of Mongolia and border regions of Russia, China and Kazakhstan, the new operation is targeting a gap in the market left open by a lack of innovation in adult English language education locally.
Wall Street English’s primary partner in this expansion is Mr. Odsuren Badarch, CEO of the Metro Development Group. He says, “Following a change in political regime, the region’s demand for English has grown alongside the economy. There’s a gap in the market for a more modern, innovative and flexible branded English learning approach. The Wall Street English blended learning model seemed like the perfect match.
“I understand the challenges faced by Mongolian people looking for education, having been involved the management of a number of other local educational institutions. It’s clear that what people value more than anything is flexibility in their learning, something that is currently not on offer in the adult English language learning market in the region. The Wall Street English blended learning model is highly differentiating from more traditional learning approaches available”.
Wall Street English’s model delivers a return on investment within two to three years and attractive ongoing returns, following a proven and scalable operating model that has been honed since the company was founded in 1972. New partners will benefit from recent investment in central support capability, not to mention a wealth of expertise and brand equity.
Lex Baker, Director of New Business Development at Wall Street English said: “As globalisation continues, the adult English language market is growing with it. It has been estimated that the global value of the adult English language training market was in excess of US$28 billion in 2017 and it is forecast to grow by more than 80% over the next 5 years.
“Mongolia represents the latest in a string of recent moves into new markets with, 21 new center openings in 2018 and with more planned for 2019 as Wall Street English’s expansion plans are continuing apace.”
About Wall Street English
Wall Street English is a world leading English language training network delivering proven and effective English courses to adults and is recognized as a best-in-class blended learning platform that provides a premium lifestyle experience to its students. Wall Street English’s success is underpinned by a strong brand, a track record of growth and innovation since 1972. Through company-owned and franchised centers, Wall Street English has provided instruction to over 3 million people. The business currently serves over 180,000 students through more than 400 learning centers in 28 countries across Africa, Asia, Europe, Latin America, and the Middle East.
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