Class 101 College Planning Franchise
To buy a franchise with Class 101 College Planning, you'll need to have at least $50000 in liquid capital and a minimum net worth of $200000. Class 101 College Planning charges a franchise fee of $32900.
Franchisor Details
Total Units: 45
Year Founded: 1997
Franchising Since: 2010
Home Office: Lexington, KY
Training: Available
Locations Available: See Below*
Franchise Costs
Liquid Capital Required: $50,000
Net Worth Required: $200,000
Total Investment: $45,890 – $63,300
Franchise Fee: $32,900
Royalty Type: 8%
Vetern Discount: No
*Class 101 College Planning is currently accepting inquiries from the following locations: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, West Virginia, Wisconsin, Wyoming
Values & History
Tom Pabin began Class 101 out of his two-bedroom apartment in Lexington, Kentucky in 1998. Working as a professional stockbroker and volunteer youth minister, Tom encountered a mother at his ministry who asked him to help her daughter--then a junior in high school--with her college applications. Tom began working with the girl, meeting with her each week at a local restaurant, and when she started bringing along her friends he realized what a need there was for such services. From that initial student the idea for Class 101 was born, and since then it has grown exponentially.
At the core of the Class 101 company culture is a true passion for helping kids. Meeting a growing need to support students and families as they navigate the complex college selection and application process is profitable, but it is also a valuable and worthy investment in our nation's youth.
Industry Performance
There is tremendous pent-up demand for the services provided by Class 101. U.S. students are graduating from high school at a higher rate than ever before, and that number is not expected to decline. The nation's high school graduation rate hit 81 percent in 2012-13. This results in an untapped market with an enormous demand for services that can be met nationwide, in both urban and rural settings, by Class 101.
A typical Class 101 territory has a population of about 250,000 with eight high schools — comprised of 14,000 total high school students. Of this high school population, 3,500 are seniors. A Class 101 franchise can be successful with a 1% penetration rate, and there is plenty of expansion potential in larger markets for multiple franchise locations. We have plans in place to open 100 Class 101 locations by 2020.
Training & Support
Once given the green light to launch their office, Class 101 franchisees receive everything they need to get their business up and running successfully. They receive access to a wealth of proprietary Class 101 documents and support materials, including:
- Marketing materials, such as brochures, business cards, letterhead, etc.
- Curriculum (which we update continually to meet ongoing college application requirements)
- Detailed operations manual and high school manual
- DropBox access to all curriculum and other materials developed over nearly two decades, such as meeting checklists, archived franchise meeting agendas, student financial aid information and sample sales presentations
- Access to informative Class 101 podcasts and training videos
Ideal Candidate & Qualifications
Class 101 college planning franchise owners come from many careers and have a wide variety of education and job backgrounds. Some are former educators; some have worked in colleges. Others have served as youth ministers or are parents who have been through the college admission process and see the obvious challenges that American students face.
The ideal Class 101 owner has a passion for working with young people and a heart for helping families save time and money during the college application process. Ideally, they have a background in business or education, whether as a small business owner, an educator, a guidance counselor, or other similar work experience. Many of our franchise owners have gone through the frustrating process of college selection with their children and are seeking a better solution. Organizational skills, as well as being well-connected in the community, are attributes that will help you thrive as a Class 101 franchisee.
We are looking for team members with the entrepreneurial spirit and self-direction to follow our refined business model as they bring Class 101 to their communities. Franchisees need to be flexible and willing to work in the afternoons and evenings to accommodate meetings with teenagers, as well as have a passion for guiding young people.
Other helpful attributes of a Class 101 franchise owner include:
- Strong communication skills
- Articulate
- Organized
- Patient
- A heart for teens
Purchasing a Class 101 College Planning Franchise
With an initial franchise fee of $32,900, you can launch a business that offers both high potential earnings and a strong sense of pride. Initial investments range from $45,890 to $63,300 for a Class 101 office. Franchisees must also have a minimum liquid capital of $40,000. This is truly a franchise that offers a low-investment opportunity with the potential for a high return.
