Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk 2014: Our Latest Views on Engineering for Kids’ Average Gross Sales

by Franchise Chatter on July 3, 2014

in Child-Related Franchises, Education Franchise, Franchise Earnings



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Highlights of Engineering for Kids’ Item 19 Financial Performance Representations (2014 FDD)

  • Engineering for Kids Businesses provide educational activities, namely, providing seminars, classes, camps, workshops, conferences, and programs, in the fields of math, science, technology, and engineering.
  • Engineering for Kids Businesses include the “Home Based Business” format and “Learning Center Based Business” format. Under the Home Based Business format, an operator will provide programs to customers at one or more sites that the operator locates and secures. Under the Learning Center Based Business format, an operator establishes an instruction facility and office at a location that will serve as the operator’s permanent base of operations.
  • Presented below are historical revenue results for the 7 franchised Engineering for Kids Businesses that were in operation for the full 2013 calendar year, and for the 6 additional franchised Engineering for Kids Businesses that were in operation for at least nine months (but less than twelve months) in the 2013 calendar year.
  • Engineering for Kids first began offering franchises in September 2011, and 2013 is the first year during which it had franchisees in operation for the full calendar year. As noted above, 7 franchisees were in operation for all of 2013, and 6 franchisees were in operation for between 9 months and 11 months. Of these 6 franchisees open less than a full year, 2 were in operation for 9 months; 2 were in operation for 10 months; and 2 were in operation for 11 months.
  • Engineering for Kids had additional franchisees begin operating during 2013, but it does not include information in this Item for any franchisees operating for fewer than 9 months in 2013.
  • Table 1 reflects the average Gross Sales of the 13 reported franchisees grouped by how long they operated in 2013, as follows:
  • (a) the 7 franchisees that were in operation for all of 2013, and
  • (b) the 6 franchisees that were in operation for between 9 and 11 months.
  • Table 2 reflects the range of Gross Sales and average Gross Sales figures of the 13 reported franchisees grouped in three tiers based on their total Gross Sales.
  • The first tier includes the 4 franchisees with the highest Gross Sales in 2013. Of these 4 franchisees, 3 franchisees were in operation for all of 2013, and 1 franchisee was in operation for 10 months. One franchisee operated an Engineering for Kids Center Location during all of 2013, and another franchisee opened an Engineering for Kids Center Location during the second half of 2013.
  • The second tier includes the 5 franchisees with the next highest Gross Sales in 2013. Of these 5 franchisees, 4 franchisees were in operation for all of 2013, and 1 franchisee was in operation for 10 months. One franchisee operated an Engineering for Kids Center Location during all of 2013.
  • The third tier includes the 4 franchisees with the lowest Gross Sales in 2013. Of these 4 franchisees, none were in operation for a full year, 2 were in operation for 9 months and 2 were in operation for 11 months. None of these franchisees operated an Engineering for Kids Center Location during 2013, although one has opened a center in 2014.
  • Gross Sales figures are the “Gross Sales” reported for calendar year 2013 by these franchisees. The term “Gross Sales” means all revenue from operating the Franchised Business, but excluding taxes collected from customers and paid to the taxing authority, and customer coupon sales (for which customers do not pay for complimentary or reduced price services or product) and refunds.
  • The information included below is a historic financial performance representation based on the reports obtained from Engineering for Kids franchisees. The information presented in this Item 19 has not been audited.
  • The data below does not reflect any costs associated with operating an Engineering for Kids Business.

Table 1 – Average Gross Sales in 2013 (Grouped by Length of Operations in 2013)



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