In this FDD Talk 2015 post, you’ll learn the following:
- Section I – Background information on the College Nannies and Tutors franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a College Nannies and Tutors franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of College Nannies and Tutors’ financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- range of current nanny services pricing, tutoring services pricing, nanny hourly cost (traditional placements, corporate on-call/back-up care services, and private family on-call services), tutoring hourly cost (customized tutoring + homework help, ACT/SAT college test prep)
- 2014 actual gross revenues for all College Nannies and Tutors franchises that have learning centers, were in operation as of December 31, 2014, and have been open for at least one year
- 2014 profit and loss statement for the franchisor’s affiliate, CNT, LLC, which operates a College Nannies and Tutors business in St. Paul, MN and is operated by a manager employed by the affiliate
- first year, second year, and third year revenues for all College Nannies and Tutors businesses since October 2006 that have opened an approved standard retail learning center within 12 months of signing the franchise agreement
Section I – Background Information
When Joseph Keeley first took a job as a “nanny” caring for children in 2000 for a family living in Edina, Minnesota, he quickly realized something: He was doing a lot more than babysitting. He was actually serving as a vital and active role model for the children.
He was in business school at the time and also saw a niche that needed filling – a source of reliable nannies and tutors to provide full-service childcare solutions with which parents could have real peace of mind, and especially geared towards children who are more than likely college-bound.
What he came up with was a more efficient model for connecting families with caregivers, thus giving birth to College Nannies and Tutors (CNT). He incorporated the business in 2001 and has since grown it into a leading provider of nanny and tutoring services.
As the website notes, “College Nannies and Tutors employs nannies you can trust, babysitters who show up, tutors who will help your student succeed and test prep coaches that will help your student get into the college of their choice. It is a commitment to both families and employees that distinguishes College Nannies and Tutors today.”
He won a prestigious Entrepreneur of the Year award from accounting giant Ernst & Young in 2010 at the age of 29. He is also a member of the ServeMinnesota board, appointed by Governor Mark Dayton.
With more than 100 locations now around the country, here’s how College Nannies and Tutors keeps kids moving in the right direction.
Make no mistake, childcare is one industry that will continue to be in high demand. With 74 million kids under the age of 18, with another 500,000 coming each year, it’s high time that childcare and tutoring efforts become more organized than they have been in the past, which is exactly what CNT does.
As long as parents work and want their kids to succeed, there will be more than enough demand.
More Than Childcare
One of the things that has made CNT such a success is its commitment to being more than just a childcare provider. The company views its mission as broader than that. It helps build strong families, which in turn builds stronger communities. When you view children as our most vital resource heading into the future, this suddenly makes a lot of sense.
More than helping just individual families with their childcare and tutoring needs, CNT has come to realize that the nexus of childcare and education issues has a profound effect on the businesses and organizations in which parents work.
CNT works with partner employers-of-choice to develop customized work-life solutions that assess and address the specific needs of a company’s employees. This can include backup childcare, hourly childcare, special event or seasonal spike care, customized tutoring, test prep, and academic coaching.
Section II – Estimated Costs
- Please click here for detailed estimates of College Nannies and Tutors franchise costs, based on Item 7 of the company’s 2015 FDD.