Thinkertots vs Idea Lab Kids Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Thinkertots vs Idea Lab Kids including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Thinkertots Franchise
Idea Lab Kids Franchise
Investment $83,100 - $124,100$60,200 - $281,000
Franchise Fee $35,000$35,500
Royalty Fee 7%11%-9%
Advertising Fee -1%
Year Founded 19981990
Year Franchised 20052016
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements

 
Thinkertots Franchise
Idea Lab Kids Franchise
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

 
Thinkertots Franchise
Idea Lab Kids Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees No/Yes-/Yes
Start-up Costs No/Yes-/Yes
Equipment No/Yes-/Yes
Inventory No/Yes-/Yes
Receivables No/Yes-/-
Payroll No/Yes-/-

Training & Support

 
Thinkertots Franchise
Idea Lab Kids Franchise
Training * Available at headquarters: 2 weeks

* At franchisee's location: 4 days

On-The-Job Training: 50 hours Classroom Training: 30 hours
Support -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 * 0% of all franchisees own more than one unit

* Number of employees needed to run franchised unit: 3 - 3

* Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)

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

 
Thinkertots Franchise
Idea Lab Kids Franchise
US Expansion -Yes
Canada Expansion --
International Expansion -Yes

Company Overviews

About Thinkertots

The Thinkertots method is founded on the belief that the key ingredients to future school success are: 1. A love of learning. 2. An ability to concentrate and focus. 3. An ability to follow directions. 4. Enjoyment of books and reading. 5. Getting along with others. Your child works on these important goals in every class he/she takes! The latest educational materials and methods help your child progress and master new challenges. You child will love our staff and unique approach and so will you. Make Thinkertots home for all of your child's early educational needs! Thinkertots has been featured by Fox News Channel's Fox and Friends, The New York Daily News, Long Island Newsday, and other media.

Do you think a Thinkertots Preschool Education Franchise might be 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:
Onsite- Mobile camps and classes
Offsite- Physical Facility offering in house afterschool camps and weekend birthday parties
Note- 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.
 
 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.
Veteran Incentives  5% off franchise fee
#316 in Franchise 500 for 2021.   Not in Franchise 500 for 2020.