In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the College Nannies + Sitters + Tutors franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a College Nannies + Sitters + Tutors franchise, based on Item 7 of the company’s 2019 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a College Nannies + Sitters + Tutors franchise, based on Items 5 and 6 of the company’s 2019 FDD
- Section IV – Number of franchised and company-owned College Nannies + Sitters + Tutors outlets at the start of the year and the end of the year for 2016, 2017, and 2018, based on Item 20 of the company’s 2019 FDD
- Section V – Presentation and analysis of College Nannies + Sitters + Tutors’ financial performance representations, based on Item 19 of the company’s 2019 FDD, including information on the:
- 2018 average and median bill rate, pay rate, and gross margin percentage for nanny placement services, babysitting services, corporate back-up care through national account, tutoring services (customized tutoring and homework help), and tutoring services (ACT/SAT/PSAT college test prep) for the entire College Nannies + Sitters + Tutors franchise system
- 2018 average, median, highest, and lowest gross revenue for the 24 single-territory and 46 multi-territory College Nannies + Sitters + Tutors franchisees (separately stated) that were in operation for at least 12 months as of December 31, 2018
Section I – Background Information
13 Things You Need to Know About the College Nannies + Sitters + Tutors Franchise
MySitters App Helps Parents Easily Book Babysitters
1. College Nannies + Sitters + Tutors makes it easy for parents to find a babysitter anytime they need with the brand’s MySitters App. “The MySitters App from College Sitters connects moms and dads who need help with qualified, reliable sitters who have a passion for watching kids,” said Diego Teran, general manager of College Sitters in Miami, Florida. Teran, who launched his franchise last year in Coral Gables, Florida, explained how the app works with Miami’s community newspapers.
2. According to Teran, using the MySitters App is simple. Parents just need to download the app and set up a time for an in-home consultation. During that one-time meeting, the College Nannies + Sitters + Tutors Family Placement manager gets to know the family, learning about the kids’ interests and allergies, and any family pets. This process helps College Sitters match families with the right sitters. After that meeting, a set of sitters is assigned to the family.
3. Booking a sitter is easy on the MySitters App. Parents can view the calendar and scroll through the available sitters. When parents have chosen their favorite sitter, they conveniently book the date and time right on their phone. Within minutes, they’ll get a confirmation directly from the sitter.
4. Next, all parents have to do is wait for the sitter to arrive. College Sitters arrive on time and provide their own transportation – no picking up or dropping off! Plus, there’s no reason for parents to stop at the ATM to get cash. Parents get billed to their credit card on a biweekly basis.
5. Each sitter is an employee of College Sitters and, therefore, has been trained, screened, and insured. This means parents can feel confident their kids are safe and happy while they’re out. MySitters App is a win-win for babysitters, too. The initial meeting with families ensures home environments are safe for babysitters.
6. Teran added, “We build stronger, happier families in Coral Gables and surrounding communities by providing services from cradle to college. We’ve helped hundreds of local families carve out time for themselves by providing a sitter, a helping hand after school or full-time nanny as well as arranging much-needed tutoring for their college-bound student.”
Offering Babysitting Services for a Wide Array of Situations
7. In addition to regular childcare at home, College Nannies + Sitters + Tutors also offers babysitting services anywhere, anytime, and for any reason. The company is able to arrange babysitters for special events, including, but not limited to, business meetings, special events, religious organizations, and as a reliable back-up for a company’s employees. These special services are great for one-time events or recurring services.
8. College Nannies + Sitters + Tutors also says that the number of kids at an event is no problem. From 1 child to 1,000, College Nannies + Sitters + Tutors will make sure that company picnics, annual sales conferences, and holiday parties are fun for everyone, including the kids. With many qualified sitters on staff, the company is able to offer care for large, national events, even when there are multiple, concurrent gatherings in different states.
9. Additionally, College Nannies + Sitters + Tutors guarantees that its sitters are the best. The brand is constantly recruiting from a variety of top-notch sources, including college campuses, established community networks, local public and private school connections, and online resources, including its own web site.
10. Many of the quality candidates are referred to College Nannies + Sitters + Tutors directly by families and sitters who love working with the brand already. Sitters seek out College Nannies + Sitters + Tutors because they want to work with a reputable service that offers them professional development and guidance, and legal employment.
Company History
11. College Nannies + Sitters + Tutors was founded in 2001 by Joseph Keeley in Edina, Minnesota. The year before, Keeley had started a nanny job while he attended university and he recognized that there was a need for reliable, high-quality nannies and tutors. Keeley started College Nannies + Sitters + Tutors to help match families with college students, graduates, and teachers, whom he felt worked well with children.
12. After spending a few years expanding College Nannies + Sitters + Tutors, Keeley began franchising the concept in 2005. The brand continued to grow across the United States over the next decade and in 2016, College Nannies + Sitters + Tutors was acquired by Bright Horizons Family of Childcare Solutions as a wholly-owned subsidiary.
Entrepreneur’s Franchise 500
13. College Nannies + Sitters + Tutors ranked No. 260 on Entrepreneur’s 2020 Franchise 500 list.
Section II – Estimated Costs
- Please click here for detailed estimates of College Nannies + Sitters + Tutors franchise costs, based on Item 7 of the company’s 2019 FDD.
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on College Nannies + Sitters + Tutors’ initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2019 FDD.
Section IV – Number of Franchised and Company-Owned Outlets
Franchised
2016
- Outlets at the Start of the Year: 102
- Outlets at the End of the Year: 119
- Net Change: +17
2017
- Outlets at the Start of the Year: 119
- Outlets at the End of the Year: 176
- Net Change: +57
2018
- Outlets at the Start of the Year: 176
- Outlets at the End of the Year: 194
- Net Change: +18
Company-Owned
2016
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 0
- Net Change: -1
2017
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2018
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section V – Financial Performance Representations (Item 19, 2019 FDD) and Analysis
Part 1 – Average Rates and Margins
- In this Part 1, the franchisor has prepared five tables listing the average bill rate, average pay rate, and average gross margin percentage for the entire franchise system.
- In Tables 1 to 5 below, the bill rate is the average amount that was charged to customers for the specified type of services, as an hourly rate.
- The pay rate is the average hourly rate that was paid to employees who provided the specified services.
- Gross margin percentage is calculated by subtracting the hourly wage paid to the employee and all payroll taxes, workers’ compensation premiums, and payroll processing costs, from the bill rate and dividing the result by the bill rate.
- The tables below include average bill rates, pay rates, and gross margin percentages for the entire franchise system.
- Your bill rate, pay rate, and gross margin percentage may differ.
Table 1 – Nanny Placement Services (including full-time, part-time, and summer nanny services)
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