Computer Explorers Adapts Franchise Offering to Spur Growth
Lower initial investment, interest-free financing addresses shortage of small business loans
HOUSTON, Nov. 30, 2010 // PRNewswire // -- Computer Explorers, a Houston-based technology education franchise that is growing in international markets, has launched a lower initial investment model for potential franchisees who may not have much liquid capital or access to traditional bank loans in today's tight market.
The revised franchise offering lessens the amount of up-front cash required and delays any payment on a significant part of the franchise fee. The first monthly payment on these fees is not made until the 20th month of operation. Under Computer Explorers' flex financing program, the amount of the monthly payment is 3% of the previous month's sales and interest is not assessed.
"In a down economy like we are in today, more people turn to franchising as a option for a career change," said Deb Evans, Computer Explorers CEO. "Today, fewer people have enough liquid capital to start a business and most banks are not making small business loans to new businesses."
Computer Explorers uses creative technology to teach critical thinking and reinforce math, science, reading, and social studies readiness skills. By using Computer Explorers, schools and aftercare programs keep classroom technology up-to-date and lower their costs.
"Computer Explorers offers a much needed service in the US," said Evans. "Not only is there a screaming need for quality technology education for children, the target market for what we do is enormous. The US has more than 76 million children and over half a million nursery, pre-school and primary schools."
The early results are promising: More people are negotiating with Computer Explorers to open new locations today than at any point in the past two years. The new financing option took effect Nov. 1.
"People passionate about education and technology now have the option of starting a business and making a difference," said Evans. "It's opened up expansion for us and this is an amazing opportunity for someone to start a business in the recession."
SOURCE Computer Explorers