Do you want to open a learning center by buying Drama Kids franchise? If YES, here is how much it cost to open Drama Kids International franchise successfully. If you are looking towards opening a Drama Kids International Franchise, it will be nice for you to have a preview of what the company represents before going ahead to enquire about the total cost of opening the franchise in your location.
Drama Kids International started operations in 1999 and they began selling franchise in 2000. They have their corporate headquarters at Fort Myers, Florida, USA and presently they have an estimated 8,935 franchise units in operation.
Drama Kids International, Inc. is the franchisor. Drama Kids businesses provide drama-based programs for children and teenagers ages 4 to 17 through a progressive curriculum that enables students to develop leadership, teamwork, and social interaction skills, public speaking skills, acting skills, confidence, self-esteem, and a positive approach to life. The franchisor offers franchises for the use of its “DRAMA KIDS” trademarks, trade names, service marks, and logos for the operation of Drama Kids businesses.
- Why Buy Drama Kids International Franchise?
- 1. Initial Franchise Fee: $27,500 to $27,500
- 2. Expanded Territory Fee: $0 to $30,000
- 3. Initial Advertising: $4,000 to $8,000
- 4. Business and Office Setup: $300 to $2,000
- 5. Travel, Lodging and Meals for Initial Training: $500 to $2,000
- 6. Insurance: $500 to $1,000
- 7. Additional Funds: (3 months) $1,000 to $3,000
- ESTIMATED TOTAL – $33,800 to $73,500
- Steps to Open Drama Kids International Franchise
Why Buy Drama Kids International Franchise?
Drama Kids International, Inc. offers you the opportunity to love what you do, enjoy a flexible lifestyle, make a powerful and significant impact on the lives of children, and build a successful business for yourself that you can take pride in.
Research has shown that drama can be effectively used to improve children’s self-esteem, self-confidence, speaking and communication, creative thinking and problem solving skills. The children’s activity industry has been one of the fastest growing segments of the economy in the past decade and it has proven to be highly recession-resistant.
Financial Investment Required to Open a Drama Kids International Franchise?
Drama Kids International, Inc. has the franchise fee of up to $30,000, with total initial investment range of $27,500. Here are areas where you are expected to spend money and the cost associated with it;
1. Initial Franchise Fee: $27,500 to $27,500
2. Expanded Territory Fee: $0 to $30,000
3. Initial Advertising: $4,000 to $8,000
4. Business and Office Setup: $300 to $2,000
5. Travel, Lodging and Meals for Initial Training: $500 to $2,000
6. Insurance: $500 to $1,000
7. Additional Funds: (3 months) $1,000 to $3,000
- Continuing Franchise Fee: The greater of 8 percent of gross sales or $200 per month.
- National Advertising And Promotional Contribution: 1 percent of gross sales.
- Remedial or Additional Training: Currently $1,200 per person.
- Field Assistance: $500 per day, plus expenses.
- Technology Fee: $35 per month.
- Annual Conference: The then-current fee (currently $250 per person).
- Class Scheduling and Registration Software: Currently estimated to range between $45 and $95 per month, depending on student volume.
- Late Fees: $10 per day, plus the lesser of 1.5 percent per month or the highest rate of interest allowed by law.
- Additional Territory Fee: Then current fee.
- Audit: Cost of audit and inspection, any understated amounts, and any related accounting and legal expenses.
- Management Fee: $500 per day, plus costs and expenses.
- Indemnification: All amounts (including attorney fees) incurred by us or otherwise required to be paid.
- Inspection: The franchisor reasonable costs, travel, lodging and meal expenses.
- Costs and Attorney’s Fees: Will vary under the circumstances.
- Renewal Fee: $3,500
- Transfer Fee: $6,000
- Broker Fees: The actual cost of the brokerage commissions, finder’s fees, or similar charges.
- Term of Agreement and Renewal: The length of the initial franchise term is seven years. If franchisees are in good standing and they meet other requirements, they may add one successor term of seven years.
- Financial Assistance: The franchisor does not offer direct or indirect financing to franchisees. The franchisor does not guarantee a franchisee’s note, lease, or other obligation.
ESTIMATED TOTAL – $33,800 to $73,500
If you are Satisfied with the Cost, here is how you can go about opening a Drama Kids International franchise?
Steps to Open Drama Kids International Franchise
i. Ensure You Have Adequate Capitalization
In order to open a Drama Kids International, you must have a net worth of more than $50,000.
ii. Appreciate the Investment Required for the Franchise
You will need to consider real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc.
iii. Evaluate Your Prior Experience and Strengths
You should evaluate your prior business experience before applying to become a Drama Kids International franchise owner.
iv. Assess Market Availability
You will want to look at the market availability for Drama Kids International franchises and see if there are available markets in your location of interest before proceeding with the franchising application.
v. Submit Your Application
Your application will be reviewed by the Drama Kids International franchise team. You will be emailed a confirmation receipt upon reception of your online application, where they will additionally provide the contact details of the franchise owner.
vi. Receive Approval and Opening Your Drama Kids International 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.
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