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 Start-Up Costs
Owning a Class 101 franchise comes with meeting its start-up cost requirements. These start-up costs are a pre-condition to ownership. Class 101 franchise start-up 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 Terms of Agreement/Renewal
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 Start 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.