If you are looking towards opening an Omega Learning Center Franchise, it will be nice for you to have a preview of what the company represents before going ahead to enquire about the total cost of opening the franchise in your location.
Omega Learning Center was founded in 2005 and they began franchising in 2007, about 13 years ago. The Kimberly Smith is the Founder and CEO and they have their corporate head office at 5150 Stilesboro Rd., #410 Kennesaw, GA 30152, USA. Omega Learning Center owns and operates 8 franchises in the United States.
Omega Learning® Center is the next generation of educational learning centers, providing a “one stop shop” for all educational services. With an 80% average gross profit margin, their highly relevant business model has both volume and longevity among the following four massive and growing markets.
Omega Learning® Center Franchise Owners have been able to take advantage of the private and supplemental demand surges. Their Franchise Owners are able to provide a wide variety of exclusive and supplemental educational services that allows children to achieve accelerated academic growth.
Omega’s comprehensive tutoring program includes remediation, test prep, homework help, and study skills, using a combination of each child’s school curriculum and Omega’s enrichment -based proprietary curriculum to achieve better grades and build lasting critical thinking skills.
Tutoring program highlights: multi-sensory instruction, customized curriculum, enrichment-based instruction, nationally recognized assessment, award winning marketing system, cutting-edge technology. Franchisees benefit from Omega’s proprietary business management and tutor communication software system (e-Schedule, e-Tutoring, e-Conference).
Omega Private Academy offers an accredited private school K-12 by certified teachers in a small group classroom ( 8:1 student/Teacher ratio), using multi-sensory curriculum, and individualized instruction. More and more children are unable to succeed in crowded school classrooms. Charter schools are an alternative to public school, but these schools are also becoming overcrowded and families are not guaranteed a certified teacher.
The nationally recognized accreditation organization AdvancED recently visited Omega’s headquarters and referred to the Omega Private Academy concept as an effective hybrid to traditional education and thought by many to be the future of education. Here are areas where you are expected to spend money and the cost associated with it;
Financial Investment Required to Open a Omega Learning Center Franchise
- Initial Investment: $115,863 – $231,506
- Net-worth Requirement: $500,000
- Liquid Cash Requirement: $100,000
- Ongoing Initial Franchise Fee: $49,900 – $49,900
- Ongoing Royalty Fee: 10%
- Ad Royalty Fee: 2%
1. Initial Franchise Investment: $115,863 – $231,506
Please note that the total cost to open an Omega Learning Center club ranges from $115,863 to $231,506 depending on the size of the space. You will need minimum liquid assets of $100,000 and a net worth of $500,000 either individually or cumulatively amongst a group of investors to obtain necessary bank financing.
2. Franchise Fee: $49,900
3. Royalty Fee: 10 percent of Gross Sales
Due Date for this fee is Paid by electronic funds transfer every Friday for the preceding Reporting Period. The amount of the Royalty Fee for any renewal term will be that provided in the Franchise Agreement executed for such renewal term.
Please note that “Gross Revenues” include all revenues generated from the provision of any and all services and/or the sale of any and all products and, whether by the franchisee or a third-party provider, that relate to or arise from the Franchised Business. It does not include taxes collected from customers.
- Local Advertising Spend, Local Marketing Fund, or Cooperative Advertising Contribution: At least 1 percent per calendar year and the Due Date: for this is Monthly.
Please note that each local advertising Cooperative may elect to increase the monthly contribution if approved by a two-thirds majority of the members, and the minimum contribution is subject to adjustment by an amount not to exceed the increase in the CPI.
Centers owned by Omega Learning Center and its affiliates are also members of their respective local Cooperative and each company-owned Center has the same voting rights as the franchised locations within the Cooperative.
If the company-owned Centers comprise the majority of a given Cooperative, the maximum and minimum fees for that Cooperative will be consistent with the range stated in this Item 6.
- Liquidated Damages Under Area Development Agreement: This fee varies but the Due Date is Payable within 30 days of the termination of the Development Agreement.
- Audit Costs: All costs and expenses associated with the audit, reasonable accounting and legal costs.
- Indemnity: This fee will vary under the circumstances and the Due Date is As incurred.
Please note that you must reimburse Omega Learning Center if it is held liable for claims arising out of your franchise operations.
- Insurance: Reimbursement of costs the franchisor’s out-of-pocket costs.
- Equipment, Supply, or Supplier Testing or Inspecting: Fee not to exceed the actual costs of inspecting and testing. (Due Date: Due on receipt of invoice.)
Please note that This fee covers the cost of testing or inspecting equipment, supplies, or suppliers you propose.
- POS Hardware and Software: Depends upon vendor and products purchased. (Due Date: Depends upon vendor and products purchased.)
- Attorneys’ Fees and Costs: Will vary under circumstances. (Due Date: As incurred.)
Payable to Omega Learning Center if it is forced to retain independent counsel and seek damages or injunctive relief to enforce the Franchise Agreement (whether or not suit is filed) or if Omega Learning Center is required to defend your unsuccessful claim against it.
- Veteran Incentives: 10 percent off franchise fee
- Term of Agreement and Renewal: The length of the initial franchise term is 10 years. If requirements are met, franchisees can renew for one additional term of 10 years.
- Financial Assistance: Omega Learning Center has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll.