|
Below is an in-depth analysis and side-by-side comparison of Kids 'R' Kids vs MakerKids including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $4,401,000 - $5,701,000 | $152,750 - $399,000 |
Franchise Fee | $115,000 | $30,000 |
Royalty Fee | 6% | 8% |
Advertising Fee | 1% | 3% |
Year Founded | 1985 | 2013 |
Year Franchised | 1988 | 2018 |
Term Of Agreement | 25 years + 10 | - |
Term Of Agreement | 25 years + 10 | - |
Renewal Fee | - | - |
Business Experience Requirements |
||
Experience | Interested candidates should have a minimum net worth of $750,000 and liquid assets of at least $300,000 | - Passion for working with kids - Thirst for knowledge - Glass half full mindset (60% optimist, 40% realist) - An Excellent Credit History - Leadership Skills - A Desire to Succeed - A Desire to Make A Difference - No past bankruptcies - No past criminal record - Willing to get out there and make sales - Persistence - Desire to listen, share and be compliant - Being happy is more important to you than being right - Customer-oriented Wait, I don’t know how to teach STEM! - Don’t worry. If you don’t have a teaching background, you can still excel as a MakerKids franchisee. In fact, the backgrounds of our ideal franchisees vary greatly – from engineers and accountants to teachers and homemakers, and everything in between. MakerKids franchise training was designed to level the playing field. We teach you all that you need to know about running a business that deals with STEM instruction. |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/- |
Start-up Costs | No/No | -/- |
Equipment | No/No | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
||
Training | Kids 'R' Kids Learning Academy's Operations and Support Team provides ongoing support for its franchisees and their businesses. Each franchised location has an assigned Operations Consultant to work directly with the franchise owner and act as the primary contact to assist with his or her needs. Thorough Training: Phase I - Business start-up training held at Support Center in Duluth, Georgia Phase II - Day-to-day Operations Training Class Phase III - Key Personnel training- Held on-site prior to opening | - Five (5) days Training in Toronto, Canada - Five (5) days On-Site Training - Education/Curriculum: MakerKids® Lesson Plans Options for additional training*: - Internal Training with support and guidance from MK Training Team via Teleconferences, GoTo Meeting and Webinars - Additional Training available at MK HQ in Toronto, Canada - Additional On-Site Training available *Please inquire about additional training. |
Support | The Operations & Support team is committed to providing support within the following departments: marketing, curriculum and instruction, administration, as well as state and federal government relations. | - Advertising and Marketing: Initial supply of Presentation materials and Templates. - Usage of proprietary Operations Manual - Use of MakerKids® Name, Logo and Trademarks - Annual training and workshop - MakerKids new releases and new concepts |
Marketing | -Initial marketing plan -Pre-opening through Grand opening -Local marketing plan to acquire and retain customers -Social Media and Digital marketing program -Website -Customized local content -Public Relations -Brand and Local PR | - Use of MakerKids® Name, Logo and Trademarks - Presentation Material & Templates |
Operations | - | - |
Expansion Plans |
||
US Expansion | Yes | Yes |
Canada Expansion | No | Yes |
International Expansion | Yes | Yes |