How to start a mathnasium franchise cost? Check cost and other details

Starting a Mathnasium franchise involves several key steps and financial considerations. Here’s an overview:

Initial Investment:

  • Total Investment: The estimated total investment to open a new Mathnasium franchise ranges from $112,936 to $149,616.

Breakdown of Costs:

  • Initial Franchise Fee: Approximately $49,000.
  • Expenses During Training: Between $3,500 and $4,000.
  • Base Royalty Fee: A monthly fee of $500 for the first center.
  • Technology Fee: Around $110 per month.
  • Rent: Costs for the first and last month’s rent, estimated between $6,000 and $14,000.
  • Tenant Improvements: Expenses for painting, carpeting, and other improvements range from $2,500 to $10,000.
  • Furniture, Signs, Equipment, and Supplies: Estimated between $10,000 and $15,000.
  • Insurance: Annual costs between $2,000 and $3,500.
  • Business License and Registration: Approximately $250 to $1,000.
  • Professional Services: Legal and accounting services estimated between $1,500 and $2,000.
  • Utilities: Monthly costs for phone and utilities between $500 and $1,000.
  • Video Surveillance Equipment: Costs between $1,500 and $5,000.
  • Pre-Opening Advertising: Approximately $4,000.
  • Additional Funds: Between $32,000 and $44,000 for the first four months of operation.

Ongoing Fees:

  • Royalty Fee: 10% of monthly gross revenue, plus a base royalty fee of $500 per month for the first center.
  • Marketing Fee: 2% of monthly gross revenue, plus $250.
  • Technology License Fee: Currently $110 per month, subject to change.
  • Additional Technology Fee: Currently $45 per month per center, subject to change.
  • Annual Convention Fee: Currently $225 per franchisee.
  • Late Payment Administrative Fee: $100 every two weeks until payment is made.
  • Late Report Submission Fee: $100 every two weeks until reports are submitted.
  • Non-Compliance Fine: $300 per month for each non-complying incident.
  • Returned Check Service Charge: $60 per check returned by the bank for non-sufficient funds.
  • Shipping Costs: Actual cost of shipping only.
  • Payments for “Chargeable Items”: Prices determined by Mathnasium.
  • Transfer Fee: $7,000.
  • Training Fee: $3,000.
  • Renewal Fee: $7,000.
  • Initial Training Tuition for Additional Trainees: $750 per day per person.
  • Additional Marketing Assessment: Pro rata amount to cover special advertising programs.
  • Local or Regional Cooperative Advertising: As determined by the cooperative. All money spent on cooperative advertising will be a credit against the local advertising requirement.
  • Reimbursement of Taxes: Amount of taxes assessed against Mathnasium due to the operation of the franchisee’s center.

Eligibility Criteria:

  • Financial Qualifications: A net worth of over $149,000 and liquid assets of at least $112,750.
  • Professional Experience: While prior experience in education or business is beneficial, it’s not mandatory.
  • Cultural Fit: A passion for education and a commitment to following Mathnasium’s systems and methods.

Onboarding Process:

  1. Initial Inquiry: Contact Mathnasium to express interest and receive preliminary information.
  2. Application: Submit a formal application for franchise consideration.
  3. Discovery Day: Attend a Discovery Day at Mathnasium’s headquarters to learn more about the business model.
  4. Training: Complete the required training program to prepare for center operations.
  5. Center Setup: Secure a location, complete necessary build-outs, and prepare for opening.
  6. Launch: Open the center and begin operations with ongoing support from Mathnasium.

Disclaimer: This information is provided for general understanding and may not reflect the most current details. For the most accurate and up-to-date information, please contact Mathnasium directly.

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