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College Nannies & Tutors Franchise Cost & Fees

Date Incorporation: 2005

Franchising Since:  2005

Headquarters:
Wayzata, Minnesota

Description: College Nannies & Tutors businesses have two distinct lines of services: nannies and tutors. One area is the placement of nannies that serve as domestic employees and provide child development services in the clients’ homes.   The other segment of the business is providing tutoring services, both in homes and at learning centers. The tutoring services expand upon the child development theme through academic support of a child’s educational needs.

Franchise Offer:  The College Nannies offer 3 business models:
i) The College Nannies franchise is for franchisees who want to focus solely on the nanny placement business described above. The College Nannies business will not offer tutoring services. However, at a later date, a College Nannies franchisee could add the tutoring component. The initial franchise fee for each separate component is $ 25,000.
ii) The College Tutors franchise is for franchisees who want to focus solely on the tutoring business described above. The College Tutors will not offer nanny placement services. However, at a later date, the College Tutors franchisee could add the nannies component for $ 25,000.
iii) They offer an area representative opportunity to select qualified individuals. Through an area representative franchise, they grant you the right in a specific geographic area (“Territory”) to (i) recruit prospective franchisees for us (“sales services”); and (ii) provide operational, training and field support to franchisees both before and after opening their College Nannies & Tutors business (“support services”).

Financial Assistance:  The franchisor does not offer any direct or indirect financing nor do they guarantee any note, lease or other obligations.

Training and Assistance: The first part of the training is a structure in a series of telephone conversation followed by a series of start-up and training activities, the duration of this part of the training program is approximately 37 hours (depending on the business model). The next step of the training is the in the classroom training in their Minnesota office. The training program must be completed to the franchisor’s satisfaction before the opening of the Franchised Business.

Territory: The franchisee will receive a protected territory, the territory will generally be delineated by population, but in determining the Territory, the franchisor may also consider the number of children under 18, the median household income, and other demographic factors which they deem to be relevant. The Territory will have a general population of at least 100,000.

Term of Agreement and Renewal: The term of the franchise agreement is 10 years with an option to renew for an additional 10 years if certain conditions are meet. The fee for renewal is $ 2000.

Obligations and Restrictions: The franchise Principal Operator must have attended and successfully completed the initial training program. Although it is recommended that the Principal Operator have an equity interest in the Franchised Business, the franchisor does not require any specific amount of equity interest. The franchisee must also be responsible for overseeing the operation of the Franchised Business and will be the person with whom the franchisor may conduct all communications. The franchisee may not solicit customers outside of your Territory, and that he may not offer child care services in your learning centers. The franchisee is restricted as to the software he may use or download onto his computer.

Total Number of franchises Units:
44 (2009)

Investment Tables:

Estimated initial investment for a College Nannies AND Tutor Business

Name of fee Low High
Initial Franchise Fee $35,000 $35,000
Initial Advertising $5000 $5000
Construction and remodeling $0 $50,000
Furnishings, Equipment, Supplies $5,000 $10,000
Signage $0 $500
Legal and Accounting $1,000 $3,000
Training Expenses $1000 $2000
Insurance $1000 $5000
Tutoring Materials $4000 $7000
Additional funds (working capitals) $5000 $30,000
Total $60,000 $164,000


Estimated Initial investment for a College Nannies Business

Name of fee Low High
Initial Franchise Fee $25,000 $25,000
Initial Advertising $5,000 $5,000
Construction and
Remodeling
$0 $50,000
Furnishings Equipment, supplies and technology $5,000 $10,000
Signage $0 $5,000
Legal and Accounting $1,000 $3,000
Training Expenses $1,000 $2,000
Insurance $1,000 $2,000
Tutoring Materials $4,000 $7,000
Additional funds (working capitals) $4,000 $21,000
Total $40,000 $66,000

Estimated Initial investment for a College Tutors Business

Name of fee Low High
Initial Franchise Fee $25,000 $25,000
Initial Advertising $5,000    $5,000   
Construction and
Remodeling
$5,000 $50,000
Furnishings Equipment, supplies and technology $5,000 $10,000
Signage $0 $5,000
Legal and Accounting $1,000 $3,000
Training Expenses $1,000 $2,000
Insurance $1,000 $2,000
Tutoring Materials $4,000 $7,000
Additional funds (working capitals) $4,000 $21,000
Total $48,000 $130,000

Ongoing fees

Name of the fee Amount
Royalty 5% of Gross Revenues Beginning the second year of the Franchise Agreement, there is a minimum monthly
Brand Fund Contributions 1% of Gross Revenues
Initial Advertising Expenditures $ 5000
Local Advertising Expenditures ½ %
Multi-Area Marketing and Cooperative Advertising Varies
Renewal Fee $ 2000
Relocation Fee $ 3000
Audit Fee Cost of Audit
Interest 1- ½ % per month 
Technology data Storage Fee $ 150 per month
Additional Training $2,000
Additional Component Fee $ 25,000

 


The above information has been taken from the UFOC/FDD of College Nannies & Tutors

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