In this FDD Talk 2015 post, you’ll learn the following:
- Section I – Background information on the Engineering for Kids franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for an Engineering for Kids franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of Engineering for Kids’ financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014 average, high, and low gross sales for Founding Franchisees (i.e. franchised Engineering for Kids businesses that were operating in the United States during 2014 and have been in business and operating for over 24 months)
- 2014 average, high, and low gross sales for Maturing Franchisees (i.e. franchised Engineering for Kids businesses that were operating in the United States during 2014 and have been in business and operating for over 12 months but less than 24 months)
- 2014 average, high, and low gross sales for Growing Franchisees (i.e. franchised Engineering for Kids businesses that were operating in the United States during 2014 and have been in business and operating for over 6 months but less than 12 months)
Section I – Background Information
Continued Steady Growth Expected for Engineering for Kids
Engineering for Kids, which offers programs for children ages 4 to 14, awarded its 100th franchise (Lakeland, Florida location) in May 2014, and expects continued growth as 50 to 60 new locations are projected to be added in 2015.
The company, based in Fredericksburg, Virginia, has more than 130 locations in the United States and several other countries, including Canada. The first franchise opened in December 2011.
Ideal franchisees, according to Engineering for Kids, are people who have strong connections within their communities, parents, and people who are passionate about educating children. Home-based locations are available in both standard and half territories, and some franchisees eventually open Engineering for Kids learning centers. A center is generally 1,200 square feet in size.
From Teacher to CEO
Dori Roberts, a high school technology teacher for 11 years, founded Engineering for Kids in 2009. As a teacher and technology adviser, Roberts developed an after-school club for engineering and science competitions.
The success of the STEM (science, technology, engineering and math) club, which had 180 members and won a number of state titles, coupled with a lack of engineering educational opportunities for her young children, inspired Roberts to turn her program into a business.
Roberts, the company’s CEO, kept her teaching job for the first year of Engineering for Kids, working more than 80 hours a week, but then left teaching to focus on the company.
Hands-on Experience Engages Kids
The company offers programs for children ages 4 to 14 to learn a variety of science, engineering and math concepts through engaging, hands-on experiences that build on kids’ natural curiosities.
Some of the activities include after-school programs, home-school programs, preschool programs, night classes, in-school field trips, workshops, corporate events, birthday parties and Scouting groups. Among the topics covered are civil, mechanical and aerospace engineering, as well as robotics and high-tech programs, including electronic game design, rocket design and software engineering.
The programs at Engineering for Kids are designed to help children develop problem-solving skills, learn how things work, become interested in exploring the career potential of engineering, and become motivated to learn science and math concepts through real engineering problems.
The children are placed in three categories: Junior Engineers (Pre-K to second grade), Apprentice Engineers (third to fifth grades) and Master Engineers (sixth to eighth grades).
Company Cracks Top 10 of Entrepreneur’s Top 75 New Franchises
Engineering for Kids made the top 10 of Entrepreneur magazine’s Top 75 New Franchises in March 2015. The company, ranked in the No. 10 spot, was the top educational franchise named to the list, which targets businesses submitted for ranking on Entrepreneur’s Franchise 500 list that have started franchising in the past five years.
In other 2015 rankings from Entrepreneur, Engineering for Kids was No. 53 in Top Low-Cost Franchises, based on scores in the Franchise 500; No. 78 in Fastest-Growing Franchises, based on new franchise units added in the U.S. and Canada; No. 85 in Top Homebased/Mobile Franchises, focusing on companies that can be run from home, in third party locations, or in structures that can be moved freely; No. 198 in Top Global Franchises, featuring companies that are seeking international franchisees; and No. 409 in the Franchise 500, highlighting businesses that are poised for growth.
Founder and CEO Presented With Brava! Award
Roberts was one of 32 women picked to receive the 2014 Brava! Award by Washington SmartCEO. The awards celebrate distinguished achievements by the top female business leaders in greater Washington, D.C.
Section II – Estimated Costs
- Please click here for detailed estimates of Engineering for Kids franchise costs, based on Item 7 of the company’s 2015 FDD (updated).