Primrose Schools Makes Franchise Ownership Easier in Tough Economy
New Incentive Programs Build Foundation for 2010 Franchise Growth Strategy
December 01, 2009 // Franchising.com // ATLANTA – To expedite franchise growth in communities where early childhood education options are limited, Primrose Schools, with more than 200 locations nationwide, announced it has launched two new incentives for prospective franchise candidates in the following areas: Chicago, Philadelphia, New Jersey, Boston, Baltimore, and Washington D.C. markets.
Effective immediately, Primrose Schools will reduce royalty fees by 5 percent for new franchise owners who sign agreements before November 1, 2010 in designated markets. During their first 12 months in operation, these owners would pay 2 percent royalty fees to the corporate office versus the company's standard 7 percent. In addition, to encourage growth in current under-penetrated markets, Primrose Schools is offering to reimburse potential franchise owners up to $35,000 in relocation expenses for any owner opening a new school more than 100 miles from their current home.
"The demand for quality early educational child care remains strong which is why we've identified several new markets for Primrose growth," said Darin Harris, COO of Primrose Schools. "We're taking a careful approach to finding the right franchise owners who share our same values to provide leadership for our schools. These two incentive programs are designed to stimulate growth and achieve our goals in these markets, while also reducing some of the initial financial commitments associated with opening a new franchise."
After opening 40 new schools in the past two years alone, Primrose Schools recently announced plans to open another 200 private preschools over the next five years in 15 key markets around the country. The franchise company finished 2008 with total system revenue growth for the 20th year in a row.
Primrose Schools has a long history of strong loan performance and has continued to secure financing for its franchise owners despite the nation's credit crunch. Primrose has been proactive in streamlining its financing options for new and existing owners wanting to open a school, including a real estate leasing program that significantly reduces up-front cash investments.
Primrose Schools nationwide serve families with children ages six weeks to five years old, and its afterschool program provides engaging activities for children up to age 12. Primrose was the first educational preschool organization in the country to achieve the gold standard in educational accreditation (SACS CASI/NCA CASI), the same body that assesses 13,000 schools across the country. Well-trained teachers bring to life the brand's proven, accredited and consistently delivered nationwide Balanced Learning® programming which considers multiple aspects of growth and learning like social, emotional, physical and cognitive development.
About Primrose Schools
Founded in 1982, Primrose Schools is the country's leader in early childhood education. Primrose Schools' foundation is based on providing quality, early education and child care services with a balance of learning, character development and play. Developed by and taught exclusively at Primrose Schools, the school's Balanced Learning® curriculum dynamically blends child-initiated play and teacher-guided instruction. The company's success, fueled by parents' demand for quality child care, is sustained by individual school owners and teachers. It is the first educational preschool to achieve accreditation by SACS CASI and NCA CASI, the prestigious associations recognized as the gold standard in evaluating local public and private schools and universities. Primrose Schools currently operates 200 schools in 16 states. The excellent reputation that Primrose Schools has enjoyed for over 25 years has allowed its growth as a franchising company to continue and flourish.