Idea Lab Kids vs I Know Science STEM Center & Toy Store Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Idea Lab Kids 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

 
Idea Lab Kids Franchise
I Know Science STEM Center & Toy Store Franchise
Investment $60,200 - $281,000$121,000 - $204,500
Franchise Fee $35,500$60,000
Royalty Fee 11%-9%6%
Advertising Fee 1%-
Year Founded 1990-
Year Franchised 2016-
Term Of Agreement --
Term Of Agreement --
Renewal Fee --


Business Experience Requirements

 
Idea Lab Kids Franchise
I Know Science STEM Center & Toy Store 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

 
Idea Lab Kids Franchise
I Know Science STEM Center & Toy Store Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/Yes-/-
Start-up Costs -/Yes-/-
Equipment -/Yes-/-
Inventory -/Yes-/-
Receivables -/--/-
Payroll -/--/-

Training & Support

 
Idea Lab Kids Franchise
I Know Science STEM Center & Toy Store Franchise
Training 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 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 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. 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

 
Idea Lab Kids Franchise
I Know Science STEM Center & Toy Store Franchise
US Expansion YesYes
Canada Expansion --
International Expansion YesYes

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:
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.






About I Know Science STEM Center & Toy Store

I Know Science™ STEM Center & Toy Store cleverly combines STEM education and entertainment. The IKS business model is innovative and leading-edge in its products and services, unique in its delivery, and profitable in the rapidly growing edutainment industry. Edutainment is the trailblazing way for recreational activities for children in the 21st century.
Parents clearly see the lasting value of investing in their kids by purchasing educational STEM toys or signing up for a STEM program. Furthermore, they enjoy the practicality of finding many quality services from one business, which they can trust, granting them a simple way to plan their kids’ activities and events.
Children that join any of the services and/or purchase our products walk away having had an enriching experience unlike any other, one they’ll remember for years to come. The IKS impact is exceptionally positive to their development and self-esteem. Hence, IKS STEM Center and Toy Stores are becoming one of the most welcomed, loved, and desired businesses in communities.