With Common Core curriculum causing more struggles than successes in the modern American family, the demand for private tutoring in key subjects is quickly rising so that children can be competitive. The world is growing closer together every day thanks to the advancement of technology, with the assistance of the internet, and no parent or guardian wants their child to be left behind.
Larry Martinek, who is the founder of Mathnasium, saw more than forty years ago that today’s students were struggling more than ever in the universe’s most common language. To provide a better educational foundation, Martinek spent more than 3 decades developing the curriculum that Mathnasium utilizes today in locations that stretch from Asia to the Americas to Europe. If you’re looking for an exciting investment opportunity that can truly change a life, this might just be it.
What Are the Initial Costs of a Mathnasium Franchise?
Mathnasium Learning Centers offers the chance to get into a $100 billion industry that still has a massive potential for growth. The initial investment begins with a $40k franchise fee that will bring you into the Mathnasium concepts that are currently taught in 15 countries. You’ll be providing a tutoring service, so you may need to be licensed and/or certified by your state or local community in order to provide this service. Absentee ownership is not allowed in this franchise model, but you can operate this franchise as a sole proprietor.
There are low net worth minimums that must be met. Each applicant must have a stable credit history with a minimum net worth of $100k. Of that, at least $55k must be in the form of liquid cash that is immediately available. Each additional franchise location that you may wish to open will require the same level of net worth. That means three locations would require a $300k minimum net worth. The franchise agreement is valid for an initial term of 5 years and it is renewable.
Once your location is established, there is also a 10% royalty on your gross receipts. There is also a required monthly fee of $500 on top of this ongoing royalty, but this only applies to one center in a multiple unit agreement. If you need assistance with the financing of these fees and the start-up costs, which can reach a high estimate of $250k, Mathnasium will work with you in order to secure third-party financing that you may need to get to your grand opening. There is no other financing assistance offered in this franchising opportunity.
Canadian franchisees will pay $31k for a franchise fee instead of the $40k fee. International franchisees have unique fees based on their specific location.
What Kind of Support Do You Receive?
As one of the 50 fastest growing franchises right now, Mathnasium offers you a 6 day intensive course in their exclusive curriculum of mathematics. This done at the company’s headquarters in Los Angeles, CA and then you’ll receive marketing and advertising support to begin establishing a community awareness of your brand. Before finalizing the agreement, however, Mathnasium does offer potential franchisees a discovery day at their corporate offices where you can get to know the stakeholders in the organization before finalizing the franchise agreement and paying the fee.
Before the intensive training in Los Angeles, however, you’ll be required to take an online interactive training that can take up to 40 hours to complete. This online training is done to prepare you for the basics of what you’ll learn at Mathnasium’s headquarters. There is also ongoing training that occurs in this franchise model and you’ll also get to work 1-on-1 with a current franchisee for a wekk to see how the system works in action.
You will be approved for the franchise before the fee is due. Upon approval, you’ll work directly with Mathnasium to get a fully customized territory that is exclusive to you. This is also where you will need to pass a full background check because you’ll be working directly with children in some capacity.
Once approved and you have your franchise location determined, the marketing process of Mathnasium begins. You’ll have access to a full line of marketing materials that are ready to use and includes everything from brochures to display ads.
Is This the Right Investment to Make?
If you have a passion for education, then this is a very affordable franchise opportunity that can help the children in your community achieve a greater level of success. There is an expectation for franchisees to be hands-on in their business, but this can include hiring instructors to supplement your business or accommodate higher levels of enrollment. Because this is a tutoring program, many of the business hours occur outside of typical schooling times. Most centers are open for about 20 hours per week, although some offer weekend hours in addition to a normal Monday-Thursday or Monday-Friday schedule.
The primary advantage that your investment into this franchise opportunity provides is the chance to provide a fulfilling venture. The royalties and fees are a little high when compared to other educational franchising opportunities, but the system of curriculum that Mathnasium provides is proven and effective. It’s a chance to really look forward to going to work every day and the added benefit is that there is the chance to work part-time, yet still earn full-time wages thanks to the after-school business model of this organization.
Independent research shows that the Mathnasium model provides today’s students with superior results that is delivered to them every day. It is a fulfilling job, a great financial opportunity, and there are chances to open your franchise location in your local community. To help today’s kids become tomorrow’s leaders starts with the universal language of math and if you have a love for both, then this is the perfect investment opportunity to consider. Apply today to have the first conversations about this opportunity without obligation and see for yourself if it is right for you!