Mathnasium Franchising Guide
If you’re interested in a franchise opportunity that not only grows your investments but also allows you to change lives, Mathnasium should be one of such opportunities.
Founded in 2002, Mathnasium began franchising a year later and has grown to over 1,000 units. It seeks to award more franchise units across the United States and you can grab this opportunity.
Mathnasium meets the demand for quality math education through its learner-friendly curriculum and teaching environments as well as techniques. Mathematics is taught in a fun way to children with excellent results obtained over the years.
If you love to impart knowledge, this might be the perfect opportunity to own a thriving franchise that helps you achieve that.
Due to its excellent educational and business, model, Mathnasium has been recognized. This has seen it receive top rankings from reputable organizations like Entrepreneur Magazine, Forbes, and Franchise Gator.
There are reasons why Mathnasium is considered one of the best educational franchises to invest in.
First, Mathnasium has seen rapid growth over the years with over 1,000 units opened and still counting. It prides itself on being among the world’s fastest-growing franchises.
There is a low entry cost too! With just under $150,000, you’re can join this rewarding opportunity. There is also a huge demand by parents for after-school programs. This continues to grow and has become a multi-billion dollar industry you can tap into.
Over several years of its operations, Mathnasium has built a respectable brand. Thus, winning the trust of both clients (parents) and investors. Plus, national reviews have been great! This shows the Mathnasium Method to be arguably the best in the industry.
Franchisees benefit from Mathnasium’s excellent systems development and support. You are less likely to fail as a franchisor once you follow all its methods and strategies for operating a franchise.
The start-up costs for owning a Mathnasium franchise is quite low.
This opens more opportunities for more investors to become part of an excellent and life-transforming brand. The estimated initial investment is the total amount required to own this franchise and ranges between $122,750 to $149,110.
However, there are other ongoing fees you will incur during ownership.
Estimated Initial Investment Breakdown
The estimated initial investment covers several other costs and which will need to be spelled out for better understanding. These are the initial franchise fee for the first center starting at $49,000, expenses while training ranging from $3,500 to $4,000, and base royalty fees from $0 to $500.
The technology fee is paid every month and costs from $0 to $110. Rent will cost anywhere from $6,000 to $14,000, paint, carpet and tenant improvements will cost between $2,500 to $10,000 while furniture, signs, equipment & supplies cost from $10,000 to $15,000.
The estimated initial investment also includes an annual insurance fee between $2,000 to $3,500, business license & name registration from $250 to $1,000 and professional services costing between $1,500 to $2,000.
Phone & utilities will cost from $500 to $1,000, video surveillance & related equipment from $1,500 to $5,000.
Pre-opening advertising cost is also included in the estimated initial investment. It starts at $4,000. Extra or additional funds for 4 months is also included and ranges from $32,000 to $44,000.
As stated earlier, there are other fees to be incurred in the course of operating the franchise. Some of these include monthly royalty fees of 10% of gross sales. A base royalty fee of $500 is also paid monthly. Monthly marketing fees of $250 plus 2% of gross monthly sales is paid to the franchisor.
A technology license fee of $110 is required. However, this may be subject to an upward review. An annual convention fee of $200 per franchisee is required. In the event of late payment, an administrative fee is required in the sum of $100 every fortnight pending the submission of results.
A non-compliance fine of $300 applies for related incidences, a return check service charge of $60 is also required.
There are several other fees you will incur during your franchise ownership term. Full details of such costs are found in the franchise disclosure document (FDD).
Mathnasium Franchise Term And Renewal
As a Mathnasium franchisee, you are entitled to a term length of five years. However, this is renewable but only for persons considered to be in good standing.
In other words, franchisees who are considered to have met the franchisor’s requirement are given an extension or renewal of an additional five-year term.
Getting started isn’t so complex. All you need to do is fill and submit its online form. This form informs the franchisor about your intentions.
Now, such intentions may be to proceed with the application process or find more information or answers. Whatever it is, the franchisor has you covered.
A franchise development rep contacts you for further discussions and provides clarifications and answers to all the questions you have. This is in addition to sending you a Request for Consideration Form (RFC) form to complete. The Franchise Disclosure Document (FDD) is handed to you for review once your RFC is approved.
The next stage involves validation. Here, franchisees are allowed to speak with existing franchisees. This is one of the best ways to learn first-hand about the franchise opportunity from existing franchisees.
The discovery day is next. You and other prospective franchisees are invited to Mathnasium’s corporate headquarters in Los Angeles, California to meet executives of the franchise. You get an in-person experience of how the franchise works plus a tour of its learning facilities.
The franchise is eventually awarded to you if you’ve met all its requirements and your application is approved. Here, the next steps are taken which involves training and building your franchise outlet.
Training is one of the most important activities offered by the franchisor to enable you to operate your franchise smoothly. Initial training is split into two consisting of onsite and training at headquarters for a duration of 35 and 37 hours respectively.
Ongoing training is provided to update skills and help franchisees keep up with changing trends in the educational sector.
Mathnasium franchise is one of the most rewarding franchise opportunities for investors interested in imparting knowledge. This is seen in the many positive reviews of its existing franchisees.
You too can become a part of this family by simply finding out more information.