CLASS 101 Franchise Startup Cost, Profit Margin, Revenue and Locations
Do you have the desire and the passion to work with young people and also derive a lot of joy doing that?
Are you self-motivated? Do you have the skills to deliver great presentations? Do you also want the freedom that comes with extra income? Then you might want to consider looking into the Class 101 franchise opportunity.
If your schedule is to fit into a business that has so much flexibility, then you would rather want to know how much is a Class 101 franchise.
FRANCHISE INFORMATION ABOUT THE COMPANY
Class 101 is a college planning franchise that assists high school students to secure admissions into better colleges and also qualify for higher scholarship and grants aid. The company has two main objectives:
- Assisting every high school student through the process of preparing for college
- Assisting all parents to pay less for college tuition.
For more than 18 years, Class 101’s mission has been to provide families with the expert guidance they need in searches for colleges and financial aids for their wards. And the goal of the company is to see the students achieve their own goals.
Since its creation, the company has given assistance to over 3000 students and students under their service have had their ACT scores increased by 3.1 points. Thousands of scholarships have also been gotten through the services of Class 101.
IS CLASS 101 A FRANCHISE?
Class 101 is a franchise and they have been selling franchise opportunities since the year 2007.
HOW DOES CLASS 101 FRANCHISE WORK?
When you buy into the Class 101 franchise opportunity, you will be saddled with the responsibility of providing Class 101 services to students in high school and their parents. You will be expected to organize seminars on “How to Make College More affordable” at churches, schools, libraries, networking groups and so on.
You will then need to meet with families that have shown interest and give accurate answers to all their questions using tested and proven presentation tools provided by the corporate office. Families will be expected to pay you for the services that you render to them and at different intervals, you can meet up with the students to provide further guidance.
WHAT ARE THE SERVICES OFFERED BY CLASS 101 FRANCHISE?
Class 101 franchise services are targeted towards students and their parents and these include:
- Giving students insights on the best colleges that can help them achieve their life time career goals.
- Giving students advices on high school course scheduling
- Students will also be coached to help them improve their GPA
- Students athletes will also be given assistance on athletic recruitments
- Helping students to develop a strong resume
- Students also tend to benefit from an eight week SAT/ACT review classes which hold twice in a year.
- Giving parents the right guidance through the rigorous task of making college payments affordable.
IS CLASS 101 FRANCHISE GOOD FOR ME?
If you have self motivation, and also derive pleasure in working with young people with the passion to make a lasting difference in their lives and also make good money, then you might want to consider buying into a Class 101 franchise.
WHAT ARE THE BENEFITS OF CLASS 101 FRANCHISE?
- You will be buying into a growing market that has an ever increasing demand
- When you buy into a Class 101 franchise, you are dealing with a trademarked business model that has great unlimited earning potential.
- The capital need to run a Class 101 franchise is minimal as well as minimum overhead cost
- You will benefit from a franchise model that has so much flexibility that you can plan your work schedule to fit into your life plans.
- You won’t be expending any cost on inventory
- You will also benefit from the company’s extensive training that will be held before and after your franchise is launched.
HOW MUCH DOES A CLASS 101 FRANCHISE COST?
Running a Class 101 franchise can so profitable, but it does come with its own cost, although minimal considering the fact that as a franchisee, you will not be making expenses on inventory. The initial investment needed for a Class 101 franchise is between $40,000 and $57,000.
Part of the Class 101 franchise cost is the net worth requirement of the company, which is between $50,000 to $100,000 and also a liquid cash requirement of non borrowed money to the tune of $100,000
CLASS 101 FRANCHISE FEE
The Class 101 franchise fee is the payment that the franchisee will need to make to the company to get the license to operate under the company’s identity. The initial franchise fee is $27,500 with an additional on-going royalty fee of 7% and an ad royalty fee of 2%
DOES CLASS 101 FRANCHISE OFFER ANY FORM OF FINANCING?
Class 101 franchise does not offer any form of direct financing to their franchisees. The company however offers linkages with any of their 3rd party associates that offer funding to help franchisees with funding to cover for the following: startup costs and franchise fee
HOW TO OPEN A CLASS 101 FRANCHISE
Information on how to open a Class 101 franchise, as discussed in this article will not be complete, until you forward your application to the company’s website. Your application will go through a review process after which feedback will be given.
If you are lucky enough to be considered, Class 101 will assign a franchise manager to you. The manager will do further evaluation of your eligibility to run a Class 101 franchise unit. Once you are giving the due pass, the franchise manager along-side his team members will then assist you to set up your franchise unit.
Founded in 1998, the Class 101 franchise specializes in the provision of educational and college planning services. These services are mainly provided to college students and their parents. They act as a guide in helping students find a suitable university and adequate funding. Class 101 franchise started franchising in 2007. With Thomas Pabin as its CEO, the Class 101 franchise has its corporate headquarters located at Lexington, Kentucky.
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This franchise opportunity is for the interested franchise candidate seeking franchising opportunities in America’s educational sector. It has grown to become one of the most respected educational franchises in the United States.
Owning this franchise means buying into Class 101’s business philosophy. Little wonder why this franchise opportunity has continued to experience tremendous growth.
How Much Can a Class 101 Franchisee Make?
The income potential of owning a Class 101 franchise largely depends on how committed the franchisee is. Also, the size of the franchise also counts. However, it is not in every case that larger Class 101 franchises outperform smaller franchises. It on how committed the franchisee is to expanding sales and attracting patronage. In most cases, by increasing sales and reducing running costs to the barest minimum, the profits significantly witness a jump.
Class 101 Franchise Opportunities
All Class 101 franchisees benefit from the franchisor’s wealth of experience in the field of educational and college planning. By becoming franchisees, they are automatically given the right to the usage of the franchisor’s business model, in addition to the use of its logo and brand name.
Class 101 franchise has an elaborate training and support system in place. This provides the necessary guidance and support to new and existing franchisees to enable them succeed with their franchises.
Class 101 Franchise Startup Costs
Owning a Class 101 franchise comes with meeting its startup cost requirements. These startup costs are a pre-condition to ownership. Class 101 franchise startup costs include; an initial investment ranging between $40,400 to $57,600, a liquid cash requirement from $50,000 to $100,000 and a Net Worth requirement from $50,000 to $100,000.
Class 101 Franchise Fee
All Class 101 franchisees are required to meets its franchise fee requirements. The franchise fee starts from $27,500. However, under the franchisors financing option, the franchise fee is covered by a third-party financing agreement between the franchisor and a financing source.
Class 101 Franchise Ongoing Costs
Class 101 franchise has certain ongoing costs all its franchisees must incur. These ongoing costs are in the form of an Ongoing Royalty fee of 7% and an Advert Royalty fee of 2%. These fees are to be paid by all Class 101 franchisees to the franchisor. It is important to note that the ongoing costs increase with the franchise size.
Class 101 Franchise Training and Support
As earlier mentioned, the Class 101 franchise has an elaborate training and support system in place. For the training, it covers a period of 5 days, and is held at the franchisors corporate headquarters.
Support includes vital areas necessary to the success of the franchise. They include field operations, periodic meetings, internet, and newsletter publications. These are all aimed at providing the best support and help to both new and existing franchisees. This creates a win-win situation for both the franchisee and franchisor.
Class 101 Franchise Application and Terms of Agreement
The terms of agreement/renewal clearly state the length of time the franchise contract between the franchisee and franchisor is valid. This is always legally binding. However, some franchises offer renewal options while others do not.
For those offering renewal options, this is only possible after certain conditions usually spelt out by the franchisor are met by the franchisee. Class 101 franchise’s terms of agreement/renewal are currently unavailable.
However, it is believed that during the process of registration, every detail regarding the franchisors terms of agreement and renewal will be clearly spelt out for the benefit of the franchisee.
How to Open a Class 101 Franchise
Owning a Class 101 Franchise requires that adequate preparations are made. The first requirement of owning a class 101 franchise is being financially eligible. This is followed by a detailed step-by-step guide found on the franchisor’s website leading eventually to ownership of the franchise opportunity. It is very important that the franchisee follow this detailed application process as it eases any form of stress.
To commence the application process for a Class 101 franchise, visit Class101 franchise website https://class101franchise.com/ and every information you need to know about the franchise is provided. However, in-depth information is provided through an online application form made available on the website. This tab is tagged the “request franchise information” tab. This online form requires your personal details which after successfully filling the form, should be submitted.
The franchisor provides the necessary information and guidance on the steps to take in the process of ownership of the franchise opportunity. It is important to note that only franchise candidates possessing all the required qualifications are considered for the franchise offering.
There you have it! Information on the Class 101 franchise with the necessary financial details required to apply. It is advised that while the information provided here are correct at the time of writing this article, the franchisor’s website should be visited in case of any update to any of the information.