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24% were $20-$40 per square foot, 32% were $40-$60 per square foot, and 12% of franchisees chose to spend more than $60 per square foot. Approximately 32% of all build-outs were less than $20 per square foot. foot (excluding TIs), and the range was as low as $6 and as high as $70. The cost per square foot, during this time had both an average and median of $35/sq. Our estimates also removed abnormally low outliers caused by conditions such as a family member being a contractor, or build-outs completed at no cost by the landlord, as these are unusual circumstances we do not expect to be replicated in our estimates. Franchisees reported TI ranging from zero to $165,000.
During this time franchisees received an average of approximately $61,000 in Tenant Improvement Credits ("TI"), and we have factored that into our costs. These estimates are based on build out costs as reported to us by franchisees for centers that opened 2016-2017.
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If you choose to upgrade to more luxurious building finishes than we recommend, or if you lease and build out a significantly larger space, your cost may exceed our estimate. Our estimate for construction costs is based on you following our recommended build-out guidelines for a leased space of the square footage we recommend (see Note 4, above).
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The figures in the chart are based upon the estimated average premiums calculated by the insurance broker designated by us who has negotiated rates with carriers nationally as first years' premium for Commercial general liability and Professional Liability coverage, including, but not limited to, education services ($1,000,000 per occurrence and $3,000,000 in the aggregate), commercial automobile liability insurance covering vehicles that are owned, non-owned, or hired by the Franchised Business, providing bodily injury and property damage, Employment Practices Liability Insurance ("EPLI"), and workers compensation and disability insurance, if required. The cost of leasing commercial space is estimated to be between $20 and $50 per square foot but may be higher in major metropolitan areas. The cost per square foot of leasing commercial space varies considerably depending upon the Center location and market conditions. You do not need a space larger than 2,700 square feet, and our estimate is based on a space between 2,300 and 2,700 square feet. You need to retain an accountant, attorney, and other consultants.Īt least 2,300 square feet (2,500 square feet is preferable) of usable square footage will be needed to operate your Franchised Business (see Item 11). Parent enrollment kits cost $250 each, and as you enroll families you will need to purchase more. You are required to purchase a minimum of 8 enrollment kits as initial inventory. The initial non-refundable franchise fee is discussed in greater detail in Item 5. Suppliers of transportation, food, and lodgingĪdvertising media, grand opening activities Third-party vendor designated by the Franchisor or an approved service company.Īdditional Funds (3 months of working capital)
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You may elect to purchase additional software features One-time purchase and bookkeeping service for the 1st 6 months of operation. Payable annually, prorated by start date in the first year.įranchisor (only if more than 2 are requested)
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Initial lump sum payment, monthly fees and annual PCI compliance feeīefore opening and the day of the month designated by the clearing house services companyįirst 2 users are free of charge additional users are $60/year.
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These monies are payable to insurance carriers with which a third-party vendor designated by the Franchisor has negotiated rates for all franchiseesĬonstruction and remodeling, including architect designįurniture, inventory, and equipment (lease deposit and installation)Įach Center License will cost $396 per year $4,200 to $6,000 per calendar year, depending upon location Your attorney, accountant, and/or other third parties Computer Software program annual maintenance feeīefore Opening (payment amount prorated monthly in first year) and then annually on January 1īusiness license, if necessary, incorporation, etc.