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Mathnasium believes that any child can be good at math with the right helping hand. By building a strong learning foundation with qualified tutors, almost any student can excel in their education and that’s what Mathnasium provides to the parents that become their valued customers and the kids who become Mathnasium students.
The demand for student private tuition has skyrocketed in recent years up to an estimated £6.5 billion. In 2015, more than 28 per cent of UK parents hired a tutor to help support their children’s education. A third of them believed they weren’t receiving appropriate support at school.
How does a Mathnasium franchise work?
With a Mathnasium management franchise, the franchisor is focused on the support of each of its franchisees. The policy is that you are in business for yourself, but not by yourself.
Your main responsibility as a franchisee will be to follow the Mathnasium method, create relationships with the parents, schools and students in your community. These will be the core customers to your Mathnasium center. You’ll also have the freedom to find the best instructor staff to help you run your franchise who you can mentor and oversee to ensure that every child is receiving the attention they need via a customised learning plan.
Your specially trained maths instructors will be following a pre-defined and pre-proven Mathnasium method for creating and improving on a solid foundation of education that has been developed over the years Mathnasium has been in business, which will improve a child’s math skills.
Another important factor is to keep parents updated on a child’s progress so that they are confident in the service being provided and that student’s needs are being met.
How much do Mathnasium franchises cost?
The total estimated investment for a Mathnasium franchise is between £77,000 and £100,000. This includes an initial franchise fee of £29,500 and a royalty of 10 per cent of gross sales plus, a monthly fee of £350.
There is also a national marketing contribution of £175 per month plus, 2 per cent of gross sales to help towards the promotion of the business in the country of operation. During the early stages of the business, you will be required to pay between £8,000 and £12,000 towards advertising costs for your branch.
This total estimate also includes other important costs including any expenses whilst training, business property rent and any improvements that need to be made along with furnishings, general business fees, security costs, and insurance.
There is also an estimate for working capital (included in the total) between £16,000 and £24,000.
This may seem like a large investment, however, due to the fact that the franchisee is working under an internationally recognised brand, it will be much easier for applicants to get funding from banks and most will typically lend between 50 and 70 per cent of the total funding required.
How much is the expected first-year income for a Mathnasium franchise?
According to estimation figures, Mathnasium franchise owners make a significant return on their initial investment. A Mathnasium Learning Center is also a chance to create a significant financial asset to provide you with financial security in the future.
If you would like to know more about the profitability of a Mathnasium centre, complete the form on this page.
Do franchisees need experience?
Franchisees do not need previous teaching experience, as all instruction is delivered by experienced math tutors. Mathnasium states that it has franchisees from a multitude of varied backgrounds, “from engineers to accountants to teachers to homemakers and everything in between”.
Mathnasium has developed a proven business system that allows it to pass the formula for success onto its franchisees and will continually support an owner throughout the entire process. There are a total of over 80 hours of online training, supplemented by 10 days of face-to-face training, provided by Mathnasium to new franchisees.
In fact, the only experience (or more appropriately, characteristic) that a franchisee needs to have in order to ensure success is a desire to help children.
This might be a great opportunity for you if profit isn’t your only motive in owning a franchise. If you have a passion for helping others and being a compassionate, empathetic business owner, you might find that Mathnasium is a great way to meet all those aims.
How do you apply for a Mathnasium franchise opportunity?
If you are interested in becoming a Mathnasium franchisee, you can register your interest by completing the form on this page.
Request Free Information
Send a free enquiry to Mathnasium for further information!