TEANECK, N.J. - January 05, 2015 - (BUSINESS WIRE) - Kumon, the world's largest after-school math and reading franchisor, has once again proven itself as a leader in the franchise industry. For the 14th consecutive year, Kumon has been ranked as the number one tutoring franchise in Entrepreneur magazine's annual Franchise 500 issue. The company, which has more than 375,000 students currently enrolled nationwide, has plans for continued growth throughout the United States, Canada, and Mexico in 2015.
"Being recognized for the 14th year in a row by Entrepreneur Magazine is an honor and a testament to our continued growth and commitment to children," says Larry Lambert, vice president of franchise recruitment at Kumon North America. "With a franchising history spanning more than 55 years, Kumon has provided thousands of entrepreneurs with the opportunity to truly impact their communities through education."
As the education franchise industry continues to grow with annual revenues reportedly at $40 billion, those with an entrepreneurial spirit and interest in helping children succeed are discovering a lucrative business as Kumon franchise owners. The private tutoring service market is projected to reach $196.3 billion by 2020, according to a recent comprehensive report by Global Industry Analysts, Inc. Kumon franchisees have the benefit of improving their local communities while making a sound business decision.
With the lowest start-up franchise and materials fee in the supplemental learning industry, Kumon also provides a number of financial incentives for franchisees. These include a grand opening marketing subsidy, assistance with leasehold improvements, and purchase of learning center furniture and exterior primary signage – a total of $18,500 in financial support related to startup costs. The cash investment required for start-up is $70,000-$150,000, with a total investment ranging $72,187 - $149,319.
The Kumon franchise community currently consists of 1,451 independently owned and operated Kumon learning centers in the U.S. The industry overall has shown continuous growth.
Kumon is an ideal small business for professionals. Kumon Franchisees must have a four-year college degree, be proficient in math and reading and have investment capital of $70,000 and a net worth of at least $150,000. Founded in 1958, Kumon has four million students enrolled in 26,000 learning centers in 48 countries and regions. Kumon North America is headquartered in Teaneck, N.J. Visit www.kumonfranchise.com.