Wall Street English expands in Thailand
Wall Street English Thailand is seeking to treble its revenue by 2023 by doubling the number of branches in the country.
Wave Entertainment purchased the WSE brand for Thailand in 2014 and a significant demand beyond the capacity of the current centres, means that “a natural next step is to look for further partners to assist in this expansion”, a Wall Street English spokesperson said.
“In 2018, we opened new 22 centres in eight countries, including securing new partners in Tunisia and Myanmar”
“There have been numerous enquiries from potential partners,” they added, “this new master franchise contract sets the foundation for further growth and Wave will now be actively seeking additional partners to support the growth plan.”
Wave Entertainment chair Matthew Kichodhan told The Bangkok Post that an export, tourism and hospitality boom in Thailand and a demand for learning English will boost the market.
The franchise in Thailand is opening a small-scale branch which WSE says offers the same services and courses, but that the company can “scale [its] centres differently depending on the demographics of the area, the location, and the demand”.
The WSE spokesperson told The PIE News that the company opens 20 new centres each year on average.
“In 2018, we opened new 22 centres in eight countries, including securing new partners in Tunisia and Myanmar,” they said. “We are actively seeking further expansion through partnerships and new franchises and our team is always happy to discuss opportunities with investors looking to enter into the booming education industry.
“Over the coming years we are looking to add around another 200 centers worldwide, both in existing territories and new countries.”
Marshall Owen, marketing director at International House Bangkok told The PIE News that it hadn’t seen a huge increase in demand for English language learning.
“I think the Thai market has been pretty steady for ESL,” he said, adding, “However, every year the number of suppliers increases with the large influx of English speaking expatriates.”