Understandably, when the economy is on shaky ground, potential franchise buyers like you are looking to invest in an industry that can withstand a little turbulence. The education franchise industry—specifically tutoring—has long been touted as economically stable, and may well be the one that can help you reach your business goals no matter what’s going on in the world around you.
But beyond being a strong business model at all times, there are plenty of other reasons to consider investing in an education franchise.
INDUSTRY NUMBERS
Tutoring is a $7 billion industry, and the educational industry as a whole has seen a 4.6% year-over-year growth rate. With more than 55 million K-12 students in the U.S., your target audience is huge and consistent, and because parents typically value their children’s education above other nice-to-have luxuries, you’ll have plenty of customers to target.
THE HUNTINGTON LEARNING CENTER DIFFERENCE IN EDUCATION FRANCHISES
In the education franchise business, Huntington Learning Center is well-known because it’s the highest-grossing tutoring franchise in the U.S. Between 2009 and 2016, franchise revenue for Huntington increased an average of 32%(*).
Our franchises see an average annual revenue of $501,000, which is 53% higher than that of our closest competitor.
Huntington Learning Center franchisees can benefit from multiple revenue lines, such as subject tutoring, learning center services, and test prep. One thing we’re proud of is our ability to secure repeat customers, since Huntington Learning Center provides services that grow as children grow, from Kindergarten to high school. Our business model works in communities large and small, so pretty much no matter what market you’re looking to serve, our model fits.
But numbers aside, our franchisees believe in Huntington Learning Center because it fills a real need: as a franchise owner, you can help children have access to the tools and resources they need to succeed in school and in life. Our results tell the story of those we’ve helped:
- Students grow two grade levels in reading and math
- Average SAT scores increase 229 points
- ACT scores increase an average of 5.4 points
EDUCATION FRANCHISE: THE COST OF ENTRY
If you’re wondering how to start your own tutoring business, franchising can be the most cost-effective investment, as it allows you to buy into an established brand. But of course, you’re wondering what it costs to get started with your own education franchise. Estimated startup costs for Huntington Learning Centers range from $127,060 to $268,940. The variables are where you want to place your center, as well as its size and leasehold improvements.
These numbers cover:
- One-time franchise fee
- Pre-opening expenses
- Equipment
- Inventory
- Local advertising
- Working capital for three months
To qualify for a Huntington Learning Center franchise, you will need a minimum of $60,000 in liquid capital and a net worth of $150,000. We also recommend that you start with enough to cover living expenses during the first year.
ARE YOU READY TO MAKE A DIFFERENCE?
If you want to invest in an education franchise that’s more than just a great opportunity to make money, consider Huntington Learning Center. Each of our franchisees is invested in the success of the students they help, and seeing their improvement is all the reward they need.
