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Updated RecentlyYoung Chefs Academy vs Idea Lab Kids Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Young Chefs Academy vs Idea Lab Kids including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $120,300 - $196,900 | $60,200 - $281,000 |
| Franchise Fee | $39,900 | $35,500 |
| Royalty Fee | $395/month | 11%-9% |
| Advertising Fee | - | 1% |
| Year Founded | 2004 | 1990 |
| Year Franchised | 2005 | 2016 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | *Franchisees must live in the market they wish to operate. *You must have a minimum of $72,000.00. *We carefully consider your personal experience and people skills. *You must understand the unique attributes of operating a business within a franchise system. *You need to be able to execute a franchise agreement within 3 months from the initial request for consideration to begin the qualification process. | Skills and abilities that we look for in a successful Idea Lab Kids® business owner. Are you genuinely interested in S.T.E.A.M? Do you understand the role S.T.E.A.M plays in today’s economy and society? Are you active in your community and hungry to make a positive impact in young minds? Are you self-directed, self-motivated and able to juggle through multiple priorities? Do you have a strong desire to learn, grow and have fun in the process? |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/Yes |
| Start-up Costs | No/Yes | -/Yes |
| Equipment | No/No | -/Yes |
| Inventory | No/No | -/Yes |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
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| Training | Hands on initial training supports our operations manual so that each new franchisee represents our brand to the standard of quality associated with Young Chefs Academy. All new Young Chef Academy Franchise Owners receive on-site training followed by continual training throughout the franchise relationship. Our initial training program is designed to prepare you to furnish you with the right tools to make your dream a reality and allow you to begin your business immediately after you successfully complete your training. | On-The-Job Training: 50 hours Classroom Training: 30 hours |
| Support | Through our wide-range of expertise, there is always someone to turn to for answers. | Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform |
| Marketing | - | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations | - | Our franchisee business partners will have the option of taking an active role in the business as the full-time General Manager or choose to hire a full-time Program Coordinator and serve as a consultant. Physical location is not required until 12-18 months in order to allow sufficient ramp up. |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | No | Yes |
Company Overviews
About Young Chefs Academy
Picture a joyful kitchen, full of inspired children creating culinary masterpieces and filling the air with laughter and learning... Welcome to Young Chefs Academy, the only franchise that will enable your children to transfer their learning and transform the most popular room in everyone's home into something quite extraordinary!
Why is Young Chefs Academy the right choice for today?
Cooking is one of the hottest past times today with new cooking programs coming online and on television every week.
Cooking has always interested every age group but now more than ever, cooking has become one of the most popular extra-curricular activities for children.
Parents recognize the value of teaching their children to cook and are actively seeking out programs that enrich their children's life now and for their future.
Children, parents, schools, teachers and health care providers are recognizing what the Young Chefs Academy's brand is doing to improve the lives of children and their communities across the country. Not only does Young Chefs Academy promote cooperation and camaraderie among its fellow students, it helps build solid relationships within the family unit.
In addition, Young Chefs Academy has....
Experienced management, culinary arts and curriculum teams.
A successful franchise system.
A proven business model.
Strong food industry partnerships.
Strong trademarks and brand recognition.
Freedom from major supply contracts.
A centralized, skilled and knowledgeable support team.
Exclusive territories.
Excellent initial training and continual education and ongoing programs.
Marketing support and advertising materials.
Ongoing business and franchise support.
Many of our best retail franchise opportunities are now available and we are seeking qualified individuals to become part of our growing, dynamic cooking team. If you’re prepared to revolutionize your personal life and create financial freedom, Young Chefs Academy is ready for you.
About Idea Lab Kids
Idea Lab Kids is an enrichment center dedicated to providing the most innovative S.T.E.A.M education in the form of afterschool camps, classes and birthday parties.
Our unique business model allows for two revenue generating sources:
Our unique business model allows for two revenue generating sources:
Onsite- Mobile camps and classes
Offsite- Physical Facility offering in house afterschool camps and weekend birthday partiesNote- Physical location is not required until 12-18 months in order to allow sufficient ramp up.
Idea Lab Kids engages K-8 students in supplemental Science, Technology, Engineering, and Math (S.T.E.A.M) education - giving them real academic advantage in school in addition to the skills and motivation they need
to prepare them for 21st century jobs. IDEA Lab Kids is a unique kids franchise opportunity that allows our franchisee business partners to build a financially viable business by providing multiple revenue streams. We are seeking to partner with driven professionals and investors who have a passion for building a profitable business while also making a positive impact in their community by providing S.T.E.A.M Education.
A background in childcare or education and a passion to educate kids is desirable to succeed as an IDEA Lab Kids franchisee. In the children's franchise industry, franchise owners today come from diverse backgrounds and have a common goal of making a difference in early childhood education and achieving financial success.
Veteran Incentives 5% off franchise fee
#316 in Franchise 500 for 2021. Not in Franchise 500 for 2020.