New Delhi, Jan. 14 -- Temasek-backed Unacademy is planning to shut down its centre business and convert it into a franchise model, founder Gaurav Munjal told employees.

"Over the coming months, we will exit our company-operated centre business by converting them into franchise partnerships," Munjal said in an email to employees on 14 January. Mint has reviewed a copy of the email.

He added that the company's franchise model has shown that it works with local operators, runs operations, and Unacademy's academics, technology and reach. "It is asset-light, capital-efficient, and aligned with who we are. By April, when this transition is complete, Unacademy will have one of the healthiest cost structures in the sector," Munjal said.

The sh...