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Below is an in-depth analysis and side-by-side comparison of Young Chefs Academy vs I Know Science STEM Center & Toy Store 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 | $121,000 - $204,500 |
Franchise Fee | $39,900 | $60,000 |
Royalty Fee | $395/month | 6% |
Advertising Fee | - | - |
Year Founded | 2004 | - |
Year Franchised | 2005 | - |
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. | - |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/No | -/- |
Inventory | No/No | -/- |
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. | - |
Support | Through our wide-range of expertise, there is always someone to turn to for answers. | Our support system is consistent throughout the lifetime of our partnership and we assist you every step of the way. If becoming a business owner is appealing to you and you have a passion for being part of an industry that makes a fantastic, long-lasting, and positive impact in the community, then owning your own I Know Science™ STEM Center & Toy Store would be one of the most rewarding experiences in your lifetime. |
Marketing | - | - |
Operations | - | IKS has developed a simple and straightforward approach to an edutainment business that is easy to learn and execute. You will leave training with the right tools, knowledge, support, attitude and confidence needed to start and grow your own successful edutainment business through the I Know Science brand. Territories will be based on a population no less than 75,000 with a specific market as well as a geographical radius. Other factors that are considered are, number of homes in the area, median household income, existence of competition, rent, and more. We will support you in finding the right location. I Know Science™ exclusive territories are one of the key benefits we offer and are only available to you as an early franchisee. Certain territories can offer a competitive advantage in the sales/marketing environment. Please contact us to discuss available territories and or your preferred territory. |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | - |
International Expansion | No | Yes |