Franchisor Stories
How Much Does it Cost to Open a Goddard School Franchise?
A Goddard School franchise has some steep investment requirements upfront, especially if you plan on buying and building rather than leasing.
The Goddard School is a leading franchise for entrepreneurs looking to go into the early childhood education industry.
As a franchisee, you don't need a childcare or education background and won't necessarily have to teach. However, you do need to be able to meet the brand's investment requirements. Here’s what you should know before committing to opening a Goddard School franchise.
Goddard School: Total Investments and Costs
Three kinds of financial investments are required to own and operate a Goddard School, including:
Initial Franchise Cost & Support Fees: $263,500 to $288,000
The initial costs consist of the franchise fee, training fee, and initial marketing fee, along with additional components like the site development assistance fee and other administrative costs.
- Initial License Fee: $135,000
- Initial Training and Assistance Fee: $35,000
- Initial Marketing Fee: $55,000 - $75,000
- Site Development Fee: $35,000
- Background Check: $1,500 - $6,000
- Convention Deposit: $2,000
School Opening Costs: $475,300 to $647,500
The cost to open a daycare franchise includes furniture, equipment, curricular materials, marketing materials, computer systems, security systems and other miscellaneous expenses. If you choose to buy the land and build the school rather than lease from a landlord, you’ll also have some considerable real estate costs to cover as covered in the Franchise Disclosure Document (FDD).
- Furniture, Fixtures and Equipment: $319,000 - $460,000
- Marketing Materials, Stationery, Forms and Curricular: $10,300 - $17,500
- Signs: $20,000
- Computer Systems, IT Security, Network Equipment: $26,000 - $35,000
- Security Systems: $15,000
- Miscellaneous Opening Costs: $85,000 - $100,000
Purchasing Land and Building School - Additional Opening Costs: $3,550,000 - $6,555,000
- Land Acquisition Cost: $450,000 - $1,200,000
- Building Construction and Site Work: $2,900,000 - $5,000,000
- Building Loan/Finance Costs: $200,000 - $300,000
- Construction Manager: $0 - $50,000
- Environmental and Soil Testing: $0 - $5,000
Post-Opening Costs: $144,000 to $302,000
Post-opening costs consist of expenses such as accreditation, payroll, and rent. According to The Goddard School franchising website, “These ongoing financial considerations ensure the maintenance of your preschool's educational excellence and its role as a nurturing space for both students and staff.”
If you lease rather than buying and building, you’ll be required to cover some additional post-opening costs.
- Accreditation: $2,850 - $3,850
- Additional Funds (3 months): $48,300 - $90,600
Lease Property from Landlord - Additional Post-Opening Costs: $90,000 - $200,000
- Lease Deposit: $20,000 - $80,000
- Three Months Rent: $70,000 - $120,000
Fit the Needs of Your Community
The Goddard School offers a flexible approach for building a school tailored to the community's needs. The franchise cost covers essential components, allowing the creation of an educational atmosphere aligned with families' aspirations. This includes the freedom to choose curriculum, design facilities, and shape an environment that fosters growth, learning, and development. The goal is to establish a school that becomes an integral part of the community, providing children with a strong foundation for their future.
When investing in a Goddard School franchise, the commitment to providing an exceptional educational environment not only supports working parents but also contributes to the overall well-being and development of young children in their educational journey and beyond.
At the 1851 Growth Club, we can help you find the right franchise for you at the right price point with your best interests at heart. Reach out today to start building your franchise legacy!
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