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6 Things to Consider Before Starting a CRICOS

Are you planning on submitting your CRICOS registration form soon?

If so, you will join a flourishing industry with profitable business opportunities. If everything works out, your CRICOS company’s revenue could increase dramatically within a short period of time. Before making a reasonable profit, most firms need to work extremely hard for the first few years.

In this post, we go over the factors you should think about while setting up a CRICOS business.

1. Receive both formal and informal approvals

Learn what legal regulations you must follow before launching your business. CRICOS registration is definitely one of the more important contributors to start your business. Obtaining a licence or registering your business with other local authorities may also be required.

Possessing legal and professional certificates will increase the likelihood that potential partners and students will trust you. That can aid in boosting your company’s reputation.

2. Choose the best location you can

Find the ideal setting for your CRICOS business by doing your research. Therefore, understand the neighbourhood you would like to operate your business and determine if it’s a suitable location (e.g. access to public transport, types of students you can attract). This will save you later headaches and unneeded expenses if you decide to move locations.

Do not be alarmed by the physical existence of competing agencies in the same area. It’s true that locating your CRICOS near other competitors will increase the likelihood that people will stop by your office. Students typically consult at least a few educational agencies before making a decision to where they’d like to study at.

3. Connect with universities

Affiliation with or collaboration with universities will offer several advantages. If you have a working partnership with foreign institutions, prospective overseas students will be more inclined to trust you. As you would have access to the assets and top officials of the institutes, you could deal with clients more confidently.

4. Make a business plan

A business plan is a document that details your CRICOS agency’s goals for the future and how you expect to get there. It serves as a guide for you and your company. It aids in planning and managing growth. The strategy will ensure that everyone is on the same page and that you can communicate clearly with your workforce.

5. Create a solid consulting strategy and stick with it

The most important aspect of the CRICOS business is the consulting process. It has the power to make or break a contract and the reputation of your business.

The queries of prospective students are endless. You must answer their questions on universities, the application procedure, costs, and other relevant topics. Students think carefully about costs, scholarships, and employment rights before choosing. Dispel their concerns about inflated commission fees and hidden expenditures.

You should avoid pressuring clients to enrol in your courses because doing so would make you appear desperate. Give them some time to decide and be patient.

6. Continuously research and evaluate

The CRICOS industry can be very unexpected.

Changes in politics and the economy have a significant impact on this industry. While planning ahead, you should also be ready for any unexpected changes. You must, therefore, periodically assess your plan and strategies.

Closely observing the actions of your competitors should be a part of your study and evaluation. What are they doing? Why are they doing it? How do they accomplish it?

As a novice in the industry, it would be preferable if you merely adhere to your competitors’ tried and true trade secrets rather than taking unnecessary chances by trying to do things differently.

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