Sylvan Learning Chosen By Forbes Magazine as One of "Top 20 Franchises to Start"
BALTIMORE, May 11, 2011 // PRNewswire // -- Sylvan Learning, Inc., North America's most recognized provider of supplemental education, announced today it has been named one of the "Top 20 Franchises to Start" by Forbes Magazine. Forbes reviewed 100 of the best known franchise systems and developed its list of the top 20 franchises for initial franchisees based on four main factors: estimated initial investment, total number of locations, store survival rates and hours of training offered.
"Sylvan Learning is honored to be recognized by Forbes as one of the top systems to consider when entering franchising, as it speaks to our strong network of franchisees and their devotion to delivering the best possible supplemental education programs," said Jeff Cohen, CEO and President of Sylvan Learning. "We are invested in our franchisees, just as they are invested in us. We will continue our commitment to providing them the best-in-class marketing and training programs, tools and resources they need to succeed as small business owners."
Entrepreneurs interested in owning a Sylvan Learning center can expect an average total start-up cost of $242,000. Sylvan's total number of locations - more than 900 centers throughout North America and abroad - provide powerful brand recognition and marketing strength. In Forbes' study, store survival rates are used as an indicator of franchisor support to the entire system and Sylvan received high marks in this area. Many of Sylvan's franchisees are multi-center owners who've been with Sylvan for more than 10 years. Finally, Sylvan was recognized for the 184 hours of training the company offers, providing the support a new operator needs to successfully open and continue operations.
"Beyond these factors, we are most proud that Sylvan Learning represents a business that delivers significant personal and professional satisfaction few other occupations can offer," added Cohen. "Despite recent economic challenges, educating our children continues to be a priority for many families. There is an increased demand for entrepreneurs who want to become more involved in their communities and operate a business that helps children develop the skills, habits and attitudes that lead to lifelong success."
Sylvan Learning continues to implement a national growth strategy that includes expanding in existing markets while entering new cities throughout the country. The company is actively seeking franchisees in many major metro markets including Chicago, Miami, Dallas/Fort Worth and Atlanta.
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, to succeed as business owners.
Sylvan has served more than two million students since 1979. Most recently, Sylvan Learning moved ranks to number 53 in Entrepreneur magazine's 2011 "Franchise 500 Ranking" and has appeared 26 times in the industry's premier franchise ranking. In 2009, Sylvan Learning was 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."
About Sylvan Learning
Sylvan Learning is the leading provider of tutoring to students of all ages, grades and skill levels. With 32 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. For more information on Sylvan's franchise opportunities call 800-284-8214 or visit www.sylvanfranchise.com.
SOURCE Sylvan Learning, Inc.