LEGACY ACADEMY FRANCHISE(ALL YOU NEED TO KNOW)
Are you interested in knowing more about legacy academy franchise? If so, then you are on the right page. Feel relaxed and make sure you read the article to the end.
Having been founded in 1997, a preschool center turned into a Legacy Academy franchise in 1998. The successful franchise opportunities are determined by the devotion of the team to what they do and desire not only to teach but empower their kids to be the very best they can be. They focus on music, art, math, science, and social studies. The brand has already grown to 15 units, however there are still some Legacy Academy franchises for sale. The main benefits the company offers their franchisees are a well thought out business model, proven marketing strategy and profitable concept which will always be in demand. Paying initial cost & fees, a franchisee receives training, access to the best company practices and consistent support of the franchisor.
Legacy Academy franchise is a nationally acclaimed preschool and childcare center that nurtures children, helping prepare them for school, career, and life. The year of foundation is 1998 and has many locations throughout the US nowadays. Their programs are based on the latest research in child development and education. Their aim is to promote cognitive, social, emotional, and physical development in children. The Academy provides a safe, enriching, and stimulating environment for children to learn and grow. They have a highly trained and professional staff dedicated to provide the best possible care for each child. The staff is passionate about their work and committed to make a difference in the lives of children.
All Legacy Academy schools are NAEYC accredited or in process. Legacy claims to have developed a curriculum that no other school has. The Legacy Academy curriculum, Framework For Their Future, was designed by a team of child development and childcare professionals.
Melissa Turner (President, and Owner of Legacy Academy) runs Legacy Academy. According to its website, Legacy Academy has 15 locations.
Why should I choose the Legacy Academy?Their mission is to serve children, families, staff, and the community. The reasons for choosing Legacy Academy revolve around our commitment to the children and families we serve. With an especially designed Legacy Academy curriculum, Framework For Their Future, NAEYC accreditation, qualified staff, thorough parental communication and safety features, you will certainly know your child is in the best hands.
What type of things will my child learn?
The Legacy Academy uses a Framework For Their Future curriculum, developed exclusively for Children of the Legacy Academy. This curriculum provides a developmentally appropriate program that is challenging, stimulating and meets the needs of infants through school-age children. Interesting themes, combined with learning objectives, help our teachers plan learning experiences in art, music, language, fine and gross motor, emergent math and literacy, movement and drama. Based on the premise that children acquire more knowledge by actively exploring materials and enrichments with purpose, we implement manipulatives, puzzles, games and art materials to constantly stimulate “hands-on” learning.
What types of activities will my child get to do?
Children at the Legacy Academy participate in a variety of activities, from music, taught by a professional music instructor, to art, to foreign language activities, all of which help develop their talents, interests, and provide creative expression.
Centers may also offer additional activities such as karate, yoga, dance or other activities.
What is the environment like?
We like to maintain an environment that creates peace of mind for our families. At Legacy Academy For Children®, our environments are designed and ready for children to explore and develop their skills. Each locations includes:
Encouraging teachers and staff
Meaningful relationships and friendships
Family-style dining
Self-help routines and essential life skills
Bright & colorful classrooms that are both clean and safe
Interesting themes and learning objectives all around
& more!
How is Legacy Academy Franchise Positioned in the Children’s Programs Industry?
Children’s Programs are typically activities and programs children can participate in after school or during the summer. These programs are popular for parents that both work full-time and would want their children to develop hobbies in extracurricular activities. Furthermore, schools are now looking for well-rounded students, not only should they excel in school but they should also be involved in other activities to be “the full package.”
Many Children’s Programs businesses overlap with Children’s Education Programs, especially because some of the sub-sectors like tutoring are also after-school activities. However, businesses in the Children’s Programs industry focus outside of academics. Many of these programs involve physical activity like sports, swimming, or outdoor play. Another popular type of program uses the creative arts, teaching kids music, dance, or other types of performance. These programs are a step above what is available in schools, but more cost-effective for parents compared to private lessons.
The After-School Program industry has over 230,000 open businesses in the U.S. Supporting more than 1.1 million jobs and with a $22 billion market size.
How Much is a Legacy Academy Franchise?
The initial Legacy Academy Franchise Fee is $75,000. You have to pay this upfront fee when opening a Legacy Academy franchise.
Legacy Academy Franchise Cost
The estimated total investment necessary to begin the operation of a Legacy Academy Franchise ranges from $3,524,600 – $6,135,500.
Legacy Academy Franchise Requirements
Legacy Academy has a cash requirement of $250,000.
Owning a Legacy Academy Franchise Requires Ongoing Fees
Royalty: 5% of Gross Revenue
Ad Royalty: 1% of Gross Revenue
In an online business platform named Vetted Biz, they have reviewed over 1,600 businesses and franchises according to our research of the businesses we have reviewed in the Children’s Programs space, we have seen a range of investment amounts start at $4,710 all the way up to $4,319,450. Much of what factors into the investment amount is what type of children’s activity it will be and how large would you want the space to be based on how many children you want to participate. Based on our research, the average royalty fee takes up 7.1% of gross revenue, and the average marketing fee is 1.9%.
3 Best Alternatives to a Legacy Academy Franchise
1. Kiddie Academy
Kiddie Academy Educational Child Care is an American franchise system of specially designed early childhood learning and child care facilities. Offering programs for children between six weeks and 12 years of age with over 250 franchised academies in 30 states and the District of Columbia. Kiddie Academy is headquartered in Abingdon, MD.
The total investment necessary to begin the operation of a Kiddie Academy Franchise is $417,000 – $1,039,000 for a leased Kiddie Academy franchise location. And $3,722,000 – $4,530,000 for a purchased Kiddie Academy franchised location. This includes between $65,000 and $145,000 in Initial Fees that you will have to pay to the franchisor or an affiliate.
Royalties are 7% of Gross Revenues, Brand Building Fund Contribution is 2% of Gross Revenues among the major ongoing costs of running a Kiddie Academy Franchise.
In 2021, the median gross revenue for Kiddie Academy franchises was $1,543,161.
Over the last three years, the company has been expanding. While they have had only 1 company-operated unit, franchising units have increased. Over the last three years, franchises have opened at a rate of 24 units a year.
2. The Goddard School
The Goddard School is an early childhood education provider with more than 500 franchised Schools in 37 states and hundreds of markets, including the Atlanta, Boston, Chicago, Houston, New York City, Philadelphia, Portland, and St. Louis markets. Goddard Systems, Inc. (GSI) franchises The Goddard School from its headquarters in King of Prussia, PA.
If you lease the school facility and the landlord constructs the improvements, the total investment necessary to begin the operation of The Goddard School franchise is from $818,300 to $1,090,100 for a school and from $390,650 to $670,950 for an associated satellite school. This includes $259,000 to $283,000 that you have to pay to the franchisor or affiliate for a school and $61,250 to $67,750 for an associated satellite school. If you purchase the land and build the school facility, the total investment necessary to begin the operation of The Goddard School franchise is from $3,844,300 to $7,360,100 for a school and from $3,416,650 to $6,940,950 for an associated satellite school. This includes $259,000 to $283,000 that you have to pay to the franchisor or affiliate for a school and $61,250 to $67,750 for an associated satellite school.
Royalty Fee for a Goddard School Franchise is 7% of Gross Receipts of the School. If you are an existing franchisee purchasing an additional (new) franchise for a reduced initial license fee, the royalty fee reduces during the first year of operation of the new School to 2% of Gross Receipts for months 1-3, 4% for months 4-6, and 6% for months 7-12. The Marketing Fund Marketing Fee is 4% of Gross Receipts, including the Gross Receipts derived from any Satellite Location or Annex, per month.
The Median Revenue for a Goddard School Franchise in 2021 was $1,669,054 while the EBITDA was $321,938.
Over the last three years, the company has been expanding. While they have no company-operated units, franchising units have increased. Over the last three years, franchises have opened at a rate of 30 units a year.
3. The Learning Experience
The Learning Experience is a childcare business that claims to provide a “curriculum that develops the whole child.”
The total investment necessary to begin the operation of a Center is between $589,419 and $5,225,419 per Center, depending on whether you purchase an existing Center, develop your own Center, or retain the franchisor to develop your Center (excluding the purchase of land). This includes payments that you have to pay to the franchisor or affiliate that range from $525,000 to $2,625,000 (if you purchase an existing Center), $162,399 to $212,399 (if you develop your own Center), and $267,399 to $384,899 (if the franchisor develops the Center for you). If you sign a Multiple Franchise Center (MFC) Addendum to develop franchised Centers, then your total expenses will range from $2,295,676 to $20,839,676.
Royalties are 7% of the Center’s Gross Revenue, which includes all revenue related to the Center. And the Brand Awareness Fund is currently, 1% of Gross Revenue. However, the franchisor has the right to increase the minimum payment up to 2.5% of Gross Revenue.
The median gross sales for a mature Center in 2021 were $1,419,992.
Over the last three years, the company has been expanding. Both company-owned and franchised units have increased. Over the last three years, franchises have opened at a rate of 26 units a year. Company-owned units also increased from 23 in 2019 to 34 in 2021.
READ ALSO:Wue college list
How to open a Legacy Academy franchise?
- Ensure you have adequate capitalization.
In order to open the Legacy Academy preschool and childcare franchise, you must have a minimum liquid capital of $250,000. - Appreciate the investment required for a childcare franchise.
You will need to consider real estate costs, the cost of equipment, the costs of licenses and permits, the cost of insurance, etc. - Evaluate your prior experience and strengths.
You should thoroughly evaluate your prior business experience before applying to become a Legacy Academy childcare franchise owner. - Assess market availability.
You will want to look at the market availability for Legacy Academy franchises and see if there are available markets in your location of interest before proceeding with the franchising application. - Submit your application.
Your application will be reviewed by the Legacy Academy franchise team. You will be emailed a confirmation receipt upon reception of your online application, where we will additionally provide the contact details of the franchise owner. - Receive approval & opening your Legacy Academy franchise.
You will receive franchise approval once your financial and background checks are completed. Approval will only be given to candidates who meet all the requirements of franchise owners.
