May 26, 2010 // Franchising.com // BALTIMORE, MD -- Sylvan Learning, Inc., North America's most recognized provider of supplemental education, announced today that for the first time in its history, it is offering more than $48,000 in financial incentives to new Chicago franchisees. Chicago is a priority growth market in Sylvan's 2010 expansion plans. The company is seeking franchisees in the Chicago area to develop 12 new centers throughout the metro area. Within the past two years, Sylvan has sold 10 territories in the Chicago area.
As an incentive, Sylvan Learning is offering new franchisees in Chicago a $25,000 promissory note that is distributed after they sign a lease and the center opens. The $25,000 loan is forgivable if certain performance criteria are met across a five-year period. In addition, new franchisees will receive a 50 percent discount off of the start-up kit, which is a $20,000 savings. Both incentives require that the center must open on or before January 1, 2011. This offer is available for a limited time in Sylvan's priority growth markets, including Atlanta, Chicago and Miami.
"In many parts of the United States, we've experienced increased demand for supplemental education services," said Doug Grindstaff, Sylvan Learning's vice president of franchise growth and services. "It is clear that educating their children continues to be a priority for many families despite current economic challenges. With this in mind, Sylvan Learning must expand throughout the country to meet the growing needs of local families and their children."
To share information about franchising opportunities in Chicago, Sylvan Learning is hosting a franchising seminar on May 27th from 11 a.m. to 1 p.m. at the Oak Park Sylvan Learning center at 7217 W. Madison Street, Forest Park, IL. Sylvan encourages all entrepreneurs interested in franchising and located in the Greater Chicago area to attend to learn more about why the supplemental education industry is growing and how entrepreneurs can join the network of Sylvan franchisees.
"To enable aggressive expansion in and around Chicago, Sylvan Learning is actively seeking franchisees who want to be their own boss, become more involved in the communities in which they serve, and operate a business that helps children develop the skills, habits and attitudes that lead to lifelong success," added Grindstaff.
Sylvan Learning has embarked on a national growth strategy that includes expanding in existing markets -like Chicago - while entering new cities throughout the country. As one of the country's top 50 franchises, according to Entrepreneur magazine's "Franchise 500 Ranking," Sylvan Learning has identified 8 to 10 key U.S. cities for development this year and will seek new and existing franchisees to open new centers in territories within these priority markets.
Ideally, franchisees should possess a minimum net worth of $250,000 and liquid assets of at least $75,000. Backed by an established leader in the industry, Sylvan Learning franchisees are provided the tools and resources needed to sustain and grow their centers. Franchisees benefit from a multi-million dollar advertising and marketing program designed to drive enrollment and conversion. In addition, all franchisees experience an unparalleled training program that prepares them, with or without educational experience, with what they need to succeed as business owners.
Despite a challenging economy, Sylvan Learning experienced record franchise sales during the past two years, selling more than 140 domestic franchise territories. In addition, 2009 marked the brand's best international franchise sales year in at least a decade. Sylvan Learning currently operates more than 900 centers worldwide in 49 states and six provinces in Canada, as well as 10 countries. Currently, there are 40 Sylvan Learning centers operating throughout Illinois with additional centers opening in the near future.
Sylvan has served more than two million students since 1979. Most recently, Sylvan Learning moved up to number 44 in Entrepreneur magazine's 2010 "Franchise 500 Ranking" and has been ranked 25 times by the industry's premier franchise ranking. In 2009, Sylvan Learning was ranked number 67 in Franchise Times magazine's "Top 200 Systems" based on total number of units. In addition, Sylvan was named one of the "25 Top Franchises for Hispanic American ownership" by Poder Enterprise magazine and was ranked in Bond's "Top 100 Franchises."
"As entrepreneurs continue to look for new career opportunities and professionals make career transitions as a result of the changing economy, Sylvan Learning represents a business opportunity that delivers significant personal and professional satisfaction few other occupations can offer," said Grindstaff. "We are excited about the expansion opportunities that exist in the thriving Chicago area and are confident we can continue to satisfy a growing demand in markets like Chicago for high quality, individualized supplemental education."
Entrepreneurs interested in exploring opportunities in supplemental education franchising may contact Broc Silberzahn, Sylvan Learning's director of franchise development, at 800-627-4276, ext. 8768.
Sylvan Learning is the leading provider of tutoring to students of all ages, grades and skill levels. With 30 years of experience and more than 900 centers located throughout North America and abroad, Sylvan's proven process and personalized instructional methods have inspired more than two million students to discover the joy of learning. Sylvan's trained and Sylvan-certified instructors provide individual instruction in reading, writing, mathematics, study skills and test-prep for college entrance and state exams. Sylvan helps transform kids into learners with the skills to do better in school and the confidence to do better in everything else.