LearningRx
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LearningRx works to help students and adults become successful by providing cognitive skills testing and customized, one-on-one cognitive skills training. For 17 years and with the help of over 700 learning professionals, the founders of LearningRx improved its brain training programs to become one of the top performing programs in the country. LearningRx has experienced explosive growth in the expanding markets of brain training where students are exposed to a customized series of intense mental workouts. To perform these workouts, the brain is forced to strengthen, reorganize and even create new neural pathways. In other words, brain training “rewires” the brain to perform more efficiently than ever before.
With LearningRx, franchisees gain the opportunity to improve the lives of students and adults alike through its proven franchise system.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
68 |
57 |
69 |
| | % Change | -- |
-16.2% |
21.1% |
| | Company-Owned |
1 |
2 |
2 |
| | % Change | -- |
100.0% |
0.0% |
| | Total |
69 |
59 |
71 |
| | % Change | -- |
-14.5% |
20.3% |
| | Franchised as % of Total |
100.0% |
100.0% |
100.0% |
Investment Required
The fee for a LearningRx franchise ranges between $25,000 and $35,000 depending on the territory size.
LearningRx provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$25,000 |
$35,000 |
| |
Initial Training and Material Fee |
$10,000 |
$10,000 |
| |
Expenses While Training |
$2,000 |
$3,000 |
| |
Rent or Real Estate and Improvements |
$3,000 |
$20,000 |
| |
Furniture & Fixtures |
$5,000 |
$15,000 |
| |
Signage |
$2,000 |
$6,000 |
| |
Misc. Opening Costs |
$3,000 |
$5,000 |
| |
Opening Inventory |
$3,000 |
$5,000 |
| |
Advertising (6 months) |
$30,000 |
$45,000 |
| |
Computer Equipment and Proprietary Software |
$4,000 |
$6,000 |
|
Additional Funds (3 Months) |
$20,000 |
$55,000 |
| |
Total Initial Investment |
$107,000 |
$205,000 |
Ongoing Expenses
LearningRx franchisees pay on-going royalty fees equal to 10% of gross revenues and fees toward the marketing development fund equal to 2.5% of gross revenues per month. Additional fees include a Backbone Advertising Fund up to $4,000 of gross revenues per month and contribution to advertising cooperatives ranging from 0% to 3% of gross revenues.
What You Get—Training and Support
LearningRx assists franchisees by giving advice for selecting and analyzing a site, lease negotiation, and construction or remodeling. Franchisees undergo initial training at the LearningRx headquarters in Colorado Springs, Colorado that covers everything from executive planning, marketing and accounting to ReadRx and ThinkRx procedures.
Ongoing support includes access to cutting-edge research, products, services and methods for LearningRx, as well as annual conferences to discuss changes in the industry, operational techniques, personnel training, and student studies.
Territory
LearningRx grants protected territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2012 Edition of Bond’s Hottest New Franchises publication.
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