Entrepreneur Ranks Kumon No. 1 for Eighth Year
Education Business is Optimistic Option in Down Economy
Teaneck, N.J.--(BUSINESS WIRE)--Entrepreneur magazine's annual "Franchise 500" issue recognizes Kumon, the world's largest after-school math and reading program, as the leading tutoring franchise for the eighth consecutive year.
Corporate layoffs and consolidations combined with an unstable economy are driving professionals to pursue alternative career paths, according to Kumon franchising experts.
"Entrepreneurship is becoming a widespread option for many Americans," said Deven Klein, vice president of franchising for Kumon, which also ranked No. 4 on Entrepreneur's low-cost franchise list. "People who were simply thinking about starting a business now are taking serious steps to pursue their passion. The economic situation is giving them an extra push."
Last year, Kumon signed 121 franchise agreements, which represents a 46% increase from 2007. Kumon projects 130 franchises for 2009. The company currently has 1,300 centers across the United States.
"Kumon has a distinct position in the marketplace," Klein said. "A growing number of parents are concerned about the economy, and now more than ever, families see the value of a strong education as a means of stability for their children. This presents an excellent opportunity for franchise owners."
Kumon recently introduced its "Parents to Partners" incentive program encouraging franchisees to refer current Kumon parents as candidates to open new centers.
Kumon enrollment in the United States has increased from 114,666 in 2003 to more than 190,000 in 2008. For more information about Kumon franchising opportunities visit www.kumon.com/franchise or call 866.633.0740.
About Kumon Math and Reading Centers
Kumon is an after-school math and reading program that unlocks the potential of children by motivating them to achieve more on their own. Founded in Japan in 1958, the learning method uses a systematic individualized approach that helps children develop a solid command of math and reading skills. Through daily practice and mastery of materials, students increase confidence, improve concentration and develop better study skills. Kumon has 26,000 centers in 46 countries and more than four million students studying worldwide.