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Little Medical School Franchise Costs, Fees & Profits

Little Medical School Franchise Costs, Fees & Profits (2024)

Here’s what you need to know if you’re interested in opening a Little Medical School franchise.

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KEY FRANCHISEE INFORMATION

Here are the most important stats to know for franchisees.

NUMBER OF LOCATIONS

34

INITIAL INVESTMENT

$58,000 – $227,000 

ROYALTY FEE

8.00%
revenue

REVENUE PER YEAR

$95,000

Little Medical School (LMS) was founded in 2010 by Dr. Mary Mason, whose vision was rooted in her deep appreciation for medicine, education, and family. The concept originated in 1998 when Dr. Mason created her first lesson plan, engaging her medical residents to teach local teenagers about healthcare careers. 

Headquartered in St. Louis, Missouri, LMS has expanded its footprint to offer both domestic and international franchise opportunities. This global expansion reflects the company’s commitment to inspiring future generations of healthcare professionals worldwide. 

LMS distinguishes itself in the educational franchise sector through its STEM.org accredited curriculum that employs real medical instruments and role-play to educate children. This unique approach not only educates but also empowers and inspires children by offering over 400 hours of youth-appropriate programming designed to spark an interest in healthcare careers.

Number of locations

TOTAL UNITS
34
FRANCHISED UNITS
30

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Initial investment

INITIAL INVESTMENT
$58,000 $227,000 
Type of ExpenditureAmount (Mobile Plus Center)
Initial Franchise Fee$35,000
Construction and Leasehold Improvements$0 – $100,000
Lease Deposits – Three Months$2,100 – $4,050
Furniture, Fixtures and Equipment$15,000 – $25,000
Signage$1,500 – $5,000
Computer, Software and Business Management System$0 – $3,000
Grand Opening Marketing$0 – $5,000
Initial Inventory$15,000
Utility Deposits$300 – $1,500
Insurance Deposits – Three Months$900 – $1,500
Travel for Initial Training$800 – $1,400
Professional Fees$3,000 – $5,000
Licenses and Permits$350 – $950
Additional Funds – Three Months$3,500 – $25,000
Total Estimate$77,000 – $227,000

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Franchise fees & Royalties

INITIAL FRANCHISE FEE
$35,000
ROYALTY FEE
8.00%

Initial Franchise Fee

The initial franchise fee is $35,000, due upon signing the franchise agreement. This fee is a one-time payment for the rights to operate the franchise.

Royalty Fee

A royalty fee of 8% of Gross Sales is required, subject to minimum monthly royalty fee requirements, to be paid monthly.

Advertising Fee

The advertising fee for the Brand Development Fund is up to 2% of Gross Sales, with a current rate of $100 per month, payable monthly.

Marketing Fee

Currently, there is no specific marketing fee required, but the franchisor reserves the right to impose a marketing fee of up to 2% of Gross Sales in the future.

Technology Fee

The technology fee is up to $500 per month, with the current fee set at $50 per month, covering various technology-related services and support.

Transfer Fee

A transfer fee of $5,000 is charged for the approval and processing of a franchise transfer to a new owner.

Renewal Fee

The renewal fee is $6,000, applicable for renewing the franchise agreement at the end of its term, ensuring continued operation under the franchisor’s brand.

Profits

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How to apply

1. Initial Inquiry and Information Gathering

  • Visit the Little Medical School franchise website or contact their franchise development team to express your interest.
  • Review available materials and resources to understand the franchise model, values, and mission of Little Medical School​ (Little Medical School)​.

2. Complete the Application Form

  • Fill out the franchise application form provided by Little Medical School. This form typically requires personal information, business experience, and financial details.
  • Submit the application for the franchise team’s review​ (Little Medical School)​.

3. Territory Exploration and Discussion

  • Discuss potential territories with the franchise development representative. It’s crucial to identify an area that not only interests you but also aligns with the company’s expansion goals and market availability.
  • Receive and review the Franchise Disclosure Document (FDD) to understand the legal and financial aspects of opening a franchise​ (Little Medical School)​.

4. Meeting with the CEO and Franchise Team

  • Schedule a meeting or a call with Little Medical School’s CEO to gain deeper insights into the franchise’s operations and ethos.
  • Use this opportunity to ask detailed questions about the franchise, including support, training, and the success of existing franchises​ (Little Medical School)​.

5. Due Diligence and Franchise Training

  • Conduct your own research to understand the local market and confirm the viability of opening a franchise in your desired location.
  • Attend the franchise training program, which is typically held at the Little Medical School headquarters in St. Louis, Missouri. This training covers various aspects of running a franchise, including the curriculum, marketing strategies, hiring instructors, and classroom management​ (Little Medical School)​.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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