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Mad Science Franchise Costs, Fees & Profits

Mad Science Franchise Costs, Fees & Profits (2024)

Here’s what you need to know if you’re interested in opening a Mad Science franchise.

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KEY FRANCHISEE INFORMATION

Here are the most important stats to know for franchisees.

NUMBER OF LOCATIONS

82

INITIAL INVESTMENT

$113,000 – $313,000 

ROYALTY FEE

8.00%
revenue

REVENUE PER YEAR

$448,000

Founded in 1985 with a mission to ignite a passion for science in children, Mad Science has become a leading franchise in the education sector. Headquartered in Montreal, Quebec, they began offering franchises in 1995, allowing qualified individuals to bring their exciting and educational programs to new communities. Mad Science isn’t your typical classroom; they provide hands-on, interactive experiences that make learning science fun and engaging. 

Their programs cater to a variety of age groups, offering after-school clubs, in-school workshops, birthday parties, science camps, and even virtual programs. What sets Mad Science apart is its unique blend of curriculum and entertainment. Their programs are designed by educators and incorporate innovative experiments, captivating demonstrations, and a healthy dose of humor to spark curiosity and a love for scientific exploration. 

This focus on making science enjoyable goes beyond traditional textbooks, ensuring children retain information and develop a lasting interest in STEM fields.  Furthermore, Mad Science offers a diverse range of programs, catering to a wider audience compared to competitors who might specialize in specific scientific disciplines.

Number of locations

TOTAL UNITS
82
FRANCHISED UNITS
73

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Initial investment

INITIAL INVESTMENT
$113,000 $313,000 
Type of ExpenditureAmount
Initial Franchise Fee$30,000 – $50,000
Equipment Package$28,000
Lease of Office/Training/Party Room/Warehouse Space and Leasehold Improvements$33,600 – $176,000
SchoolHouse Chess Program Fee$0 – $10,000
SchoolHouse Chess Program Equipment$0 – $5,000
Brixology Program Equipment and Branded Products$0 – $5,159
Insurance$2,000 – $3,500
Local Advertising$250 – $1,000
Office Equipment/Supplies$3,000 – $6,000
Technology Access Fee$681 – $1,500
Security and Utility Deposits, Business Licenses and other prepaid expenses$1,000 – $2,500
Legal and Accounting / Bookkeeping Fees$1,000 – $3,500
Additional Funds (3 months)$13,800 – $20,800
Total$113,000 – $313,000

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
$30,000
ROYALTY FEE
8.00%

Initial Franchise Fee

The initial franchise fee ranges from $30,000 for a Standard Territory up to $50,000 for a Large Territory. This fee is due upon signing the franchise agreement and grants the rights to operate a Mad Science franchise.

Original Equipment Package Fee

A fee of $28,000 is required for the Original Equipment Package, which includes necessary items to market and conduct parties, programs, classes, and related events. This fee is due upon signing the franchise agreement.

Optional Program Fees

  • Schoolhouse Chess Program Fee: $10,000 for those opting to participate, due upon signing the program addendum.
  • Brixology Program Fee: Costs for equipment and branded products for this optional program are approximately $5,159.

Royalty Fees

Royalty fees are 8% of Gross Revenues, payable monthly. This ongoing fee supports franchisor services and brand maintenance.

Transfer Fee

A transfer fee of $10,000 is applicable for each territory when the franchise business is sold or transferred.

Renewal Fee

The renewal fee is set at $5,000 per territory, payable upon the renewal of the franchise agreement.

Technology and Marketing Fees

  • National Marketing Fund Contribution: The greater of $2,000 per year or up to 3% of the previous year’s Gross Revenues.
  • Technology Access Fee: Ranges from $227 to $500 per month, subject to changes.
  • Web Page Service Fee and Marketing Access Fee: Currently $150 and $100 per month, respectively, subject to changes.

Profits

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How to apply

1. Research and Understand the Franchise

  • Learn about Mad Science: Research the Mad Science brand, its mission, educational programs, target audience, and market presence.
  • Franchise Model: Understand the franchise model, including the initial investment, ongoing fees, and the support and resources provided by the franchisor.

2. Evaluate Your Eligibility and Commitment

  • Financial Requirements: Assess your financial capability to meet the initial investment and ongoing operational costs.
  • Time and Effort: Consider the time and commitment required to establish and run the franchise, including staffing, program delivery, and business management.

3. Apply and Attend Discovery Day

  • Initial Application: Fill out the application form on the Mad Science franchise website or contact their franchise development team.
  • Discovery Day: If your application is considered, you’ll be invited to attend a Discovery Day, where you’ll get an in-depth look at the franchise, meet the team, and have the opportunity to ask questions.

4. Develop a Business Plan

  • Market Analysis: Conduct a thorough market analysis to understand the demand for educational and entertainment services for kids in your area.
  • Financial Projections: Create detailed financial projections, including startup costs, revenue forecasts, and break-even analysis.
  • Operational Plan: Outline the operational aspects, such as location, staffing, marketing, and day-to-day management.

5. Secure Financing

  • Funding Options: Explore funding options, which may include personal savings, bank loans, or investor capital. Mad Science may also offer financing options or guidance.
  • Business Account: Set up a business bank account and obtain any necessary credit lines or loans.

6. Legal and Regulatory Compliance

  • Franchise Agreement: Review and sign the franchise agreement, which outlines the terms and conditions of your franchise ownership.
  • Licenses and Permits: Obtain all necessary business licenses and permits as required by your local and state regulations.

7. Location and Setup

  • Find a Location: Choose a suitable location for your Mad Science franchise that is accessible and appealing to your target audience.
  • Setup: Follow the franchisor’s guidelines for setting up your franchise, including any required renovations, signage, and equipment.

8. Training and Support

  • Training: Complete the franchisor-provided training program, which covers program delivery, business management, and marketing.
  • Ongoing Support: Take advantage of the ongoing support provided by Mad Science, including marketing materials, program updates, and operational guidance.

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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