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Updated RecentlyIdea Lab Kids vs Little Medical School Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Idea Lab Kids vs Little Medical School including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $60,200 - $281,000 | $28,800 - $58,200 |
| Franchise Fee | $35,500 | $11,500 - $24,500 |
| Royalty Fee | 11%-9% | 8%+ |
| Advertising Fee | 1% | $95/mo. |
| Year Founded | 1990 | 2010 |
| Year Franchised | 2016 | 2014 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | 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 | -/Yes | -/- |
| Start-up Costs | -/Yes | -/- |
| Equipment | -/Yes | -/- |
| Inventory | -/Yes | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
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| Training | On-The-Job Training: 50 hours Classroom Training: 30 hours | On-The-Job Training: 8 hours Classroom Training: 36 hours |
| Support | Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform |
| Marketing | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app | 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. | Number of Employees Required to Run: 1 |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | - | - |
| International Expansion | Yes | Yes |
Company Overviews
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.
About Little Medical School
Little Medical Schooll® brings medicine, science, and the importance of health to children in an entertaining, exciting, and fun way.
Our educational enrichment programs provide a fun, innovative, and engaging curriculum. We create an opportunity to experience role playing using tools that real doctors use, and learn how the body works. By participating in these role-playing experiences, Little Medical School is inspiring tomorrow’s doctors today!
We offer after school programming, birthday parties, and special events that we can customize to fit your needs.
All of our curriculum is aligned with STEM objectives.
You do NOT need to have a medical background, teaching background or even a background in owning and running a business. We will provide you with our incredible curriculum and all the necessary training and tools to operate your business.
Little Medical School is a mobile business you can operate out of your home. We focus on allowing our franchisee to keep their overhead low while growing a thriving, rewarding business.
The Initial Franchise Fee for a Standard Model is $24,500. The Initial
Franchise Fee for a Mini-Model is $11,500. The initial investment
necessary to begin operation of a Little Medical School® Standard Model
franchise ranges from $41,800 to $58,200. This includes $24,500 that
must be paid to the Franchisor or its affiliate(s) and $13,100 for the
Initial Curriculum.
The initial investment necessary to begin operation
of a Little Medical School® Mini-Model ranges from $28,800 to $45,200.
This includes $11,500 that must be paid to the Franchisor or its
affiliate(s) and $13,100 for the Initial Curriculum.