How Much Does it Cost to Open a LearningRx Franchise?
LearningRx Franchise Cost
The cost of a LearningRx franchise ranges from $17,000-$25,000 based on the size of your territory. We have two franchise opportunities: Micro Franchising and Standard Franchising.
- The Micro franchise territory has a population under 100,000 in a 10 mile radius.
- The Standard franchise territory is over 100,000 people.
Below is a chart that lists the estimated initial investment for each type of LearningRx Franchise.
LearningRx Franchise Ongoing Costs
After your center is up and running, there are a few ongoing costs that are typical in franchising: the royalty and Marketing Development Fund (MDF) fee. As a LeanringRx franchisee, you will pay a monthly 10% royalty to LearningRx on your net collections. You will also pay 2.5% of your net collections into the Marketing Development Fund, which is applied to new marketing creation, brand and messaging management, updates to the national website, and more.
There are a few additional fees that you can expect for things like local internet marketing, technology, and student materials. A full breakdown of these fees can be found in our Franchise Disclosure Document, which will be sent to you after you are qualified by the franchise recruitment team.
The Cost of Franchising vs. Starting your Own Business
According to franchising.com, “Although the entry costs and ongoing expenses of getting into franchising may seem steep, it also costs money to start your own business. One of the advantages of choosing a franchised business is that you enter with your eyes wide open regarding startup and future costs. Based on the experience of existing franchisees, franchisors can provide you with a very accurate picture of what it will cost to start the business, your ongoing expenses, and a good approximation of when your revenue stream will turn positive–valuable information you won’t have if you start your own business.”
While there may be a cost associated with joining a franchise organization, there is a great benefit – years of experience, a network of like-minded peers who have been where you are, and a proven business model. The cost of starting out on your own is a higher failure rate, a much smaller support system, and a lack of prior experience upon which to build and improve. With our help, you can start a great business without reinventing the wheel.
Third Party Financing for Franchising Costs
In house financing is not available with LearningRx; however, we have financial funding experts available to help you with the initial investment. You will be able to discuss the initial fees, as well as any financing questions you may have, during your intro call. If you have additional questions, we are happy to help! If you are in need of financing, we can provide you with a financial resources packet to share various options with you.