Idea Lab Business Opportunity Questions
Do I need experience to operate an Idea Lab franchise?
No. We provide a complete training program including marketing, operations, and technology training.
Why should I not try it on my own?
We have honed our operations to give our franchisees the best possible opportunity for success. Why risk it on your own when you can leverage our expertise and experience? So why have the competition when you can be the only one operating such a business?
We are continuously expanding and evolving.
FOR YOU, this means we have the experience, the expertise and credibility to help you deliver the very best programs in your market.
Will you help me in marketing?
Yes. We will provide a proven marketing package specifically for your territory, as well as production and strategic assistance with your on-going local marketing efforts. We will also provide training and technique to work with your local school and organization.
What makes a successful Franchisee?
There are three elements to any successful franchise relationship: a great concept, a good location/territory and a great operator. We have the first element, and we’ll help you find the second. The real key is always the operator. YOU as a franchisee, make all the difference. A franchisee that is willing to follow a proven system, and is committed to excellence, consistency, and constant, positive communication with his/her students and community will always have great success.
How much does an Idea Lab franchise cost?
- Depending on whether you choose a single unit or multi-unit opportunity, the fees, and initial investment will vary.
- Franchise Fees: $35,500 for one US/Canada Territories, $0 – $500,000+ for international territories
- Setting Up Learning Center: $150,000 to $365,000 Depending on the location and rental agreement. (Include supplies for 4 months of operation)
- Initial Working Capital: $50,000 – $100,000 Depending on rent and revenue growth rate
- A breakdown of this investment is located in Item 7 of our Franchise Disclosure Document (FDD). A multi-unit franchise opportunity is also available.
Is this a growing industry?
Yes, in most parts of the country, childcare and education services are growing. In fact, the Small Business Administration recently named both the childcare and education industries in their "Top Ten" categories for growth.
Can I have a protected territory?
Yes. The formula for calculating protected territories is outlined in the Franchise Disclosure Document (FDD).
Can I purchase more than one territory?
Yes. In-fact Idea Lab is seeking business owners who are interested in growing multiple units.
How long does it take to get started?
The official start of your business begins with the opening of your learning center, which is typically 4-12 months after signing the franchise agreement but will vary depending on a number of factors, namely, your commitment to finding and building out a site and the availability of local real estate. One of the benefits of the Idea Lab business model is that you are able to start generating revenue even before the opening of your learning center and official start of your business.
How can I learn more?
By filling out the brief form in “Getting Started Page”. We will then contact you to provide you with our Franchise Disclosure Document and help you learn more.