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Questions on Starting an iKids U® Franchise
What is provided as part of the iKids U franchise system?
We will provide you with 5 days of headquarters-based training. If necessary, we may also provide on-site assistance as you launch your business. We’ll also present you with a copy of our confidential operations manual to help you run your iKids U children’s franchise properly on a day-to-day basis.
What experience do I need to have to become an iKids U franchise owner?
We are looking for active owner-operators who will be committed to developing business in their protected territories. Though you don’t need to have specific experience in running an after-school program like ours, having an interest or experience in working with children, or a sales or management background will be helpful. The iKids U franchise can be a great opportunity for current or former educators, as well as parents who want to be involved with children and their local school districts while owning their own business. But don’t worry — no matter your background, if you’re chosen for the iKids U franchise program we will train you on all the important aspects of running your business.
How much will the iKids U franchise investment cost me?
The projected initial investment range for a single start-up location ranges between $75,870 – $120,720; this investment amount includes an initial franchise fee of $39,500 (this fee may be discounted for qualified veterans). As with any new business venture, it’s important that you have the capital needed to adequately fund your business. Learn more about what is included with the cost of an iKids U franchise here.
Are there other ongoing fees paid to the franchisor?
Franchisees pay a royalty rate of 8% of gross revenue. There is also a $100 per month technology fee. These fees allow us to fund our ongoing support services and the continued development of curricula, marketing tools, training programs, and systems upgrades.
Are there any advertising fees?
Franchisees will be required to spend a minimum of 1% of gross revenues per month on local advertising, and will also be required to contribute up to 1% of gross revenues or a monthly minimum of $200 into the system marketing fund. (Currently, the marketing fund contribution does not exceed the greater of $100 per week or 1% of monthly gross revenue.) Collected funds will be used to develop marketing strategies to promote the iKids U brand and fund the creative costs to develop local franchise marketing materials and campaigns.
Is financing available?
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
What is the term of the franchise agreement?
The initial term of your franchise agreement is five years, with additional successor agreement options of five years each.
How do I get started?
If you’re interested in starting a kids franchise and learning more about the iKids U program, click here to request more information about us. Or you can contact us at (888) 824-4885 or [email protected] to discuss the possibility of setting up a visit to view our operations, speak with key franchise management staff, and receive our FDD (Franchise Disclosure Document) which contains all the important details you’ll need to make an informed decision.