E² Young Engineers: a ‘fast ROI’ children’s services business
Enrichment programs from E² Young Engineers Australia combine education and entertainment to create edutainment.
“The territories franchisees are responsible for are all contiguous regions with populations of 250,000, and have been researched by the franchisee and headquarters as having a significant population of children to support an after-school Stem education,” says Young Engineers sales and marketing manager Natalie Kohanpour.
To expand their customer base, franchisees need to reach out to schools, religious institutions, girl/boy scout troops, community centres, summer camps and other groups involving children from four to 15 years old. Franchise marketing developers from headquarters also help drive traffic to region-specific websites using targeted social-media campaigns.
Kohanpour says overheads include rent for classroom/community centre space, training, insurance, licences, legal and accounting, plus shipping costs. The franchisee pays to use the branding and materials developed by the headquarters, as well as paying royalties, depending on the number of programs being run.
“We also dedicate a large part of our company to research and development, so programs are being developed and clients can expand their repertoire by buying these new products,” she says.
“We provide franchisees with the tools and resources to grow and expand their business.”
While finding quality teaching staff is a challenge, a franchisee does not need to develop their own educational products, says Kohanpour.
They simply organise and lead the lessons as trained by the company.
“There is a fast ROI with a relatively modest investment because there is no need to open a brick-and-mortar storefront and other costs. Hours are flexible and most work can be done from home,” says Kohanpour.
Depending on the locality, the initial investment ranges from US$15,000 to US$30,000 (about A$19,572-A$39,144) for the franchise fee plus equipment. Franchisees have access to materials, business support and marketing.
Looking to invest in a children's services franchise? Check out the category.