Franchise Deep Dive: IDEA Lab® Kids Franchise Costs, Fees, Profit and Data

In the rapidly-growing enrichment learning space, this concept stands out thanks to its unique STEAM-focused approach, emphasis on creativity and easy-to-access remote instruction.

By Luca Piacentini1851 Franchise Managing Editor

How Many IDEA Lab Kids Locations Are There?

In 2011, entrepreneur, computer engineer and mother of three Ghazal Qureshi became interested in an after-school program that would provide an intellectually stimulating, hands-on educational experience for children. Qureshi began to host on-site camps and, by 2016, began to franchise the business across the world. Since then, IDEA Lab Kids has since grown to more than 11 franchises throughout the United States to go along with four locations in Canada.

In the decade since being founded, IDEA Lab Kids has continued to innovate in order to keep up with the changing needs of today’s youth. For example, while originally focused on STEM, arts have been added into the IDEA Lab Kids’ STEAM model geared to provide a comprehensive approach for childhood education. The brand also introduced coding classes last year, integrated into its after school programs.

Following the COVID-19 pandemic, IDEA Lab Kids has further developed its educational models by incorporating programs that allow easy access to remote instruction. Another initiative called IDEA Lab On-the-Go™ allows other facilities, such as school sites, libraries and museums, to bring the enrichment concept to them.

IDEA Lab Kids is owned by parent company Lyricos Learning®, which is also the creator of STEAM on Demand®, a leading provider of streaming interactive content and tools for planning and leading standards-aligned, engaging and fun TK-6 STEAM hands-on lessons.

What Is the IDEA Lab Kids Business Model?

An acronym for Innovate, Discover, Explore, Achieve, IDEA Lab Kids is an enrichment facility that offers diversified revenue streams through onsite after-school classes, pop-up workshops, birthday parties, preschool programs, workshops and summer camps. Children can take game design, virtual reality, robotics, coding and cooking classes. They also may get to play and interact with others.

At the franchise locations there are four options for students:

After School Program (with transport): Full enrichment program with transportation from nearby schools to an IDEA Lab Campus for homework assistance, classes and more.
Home School Programs: Parents can bring their children during school hours to enroll in one or more classes per week for a semester.
Individual Classes: Participants can enroll in one or more classes per week for a semester.
STEAM Membership: This month-to-month membership plan includes access to any of the hands-on workshops being offered, subject to space availability.

Meanwhile, the IDEA Lab On-the-Go™ program takes the same content offered at IDEA Lab Kids facilities to schools, libraries, daycares, community centers and more.

Another revenue stream franchisees can take advantage of are the IDEA Lab Kids Summer and Seasonal Camps. Students can join weekly STEAM half day and full day summer camps or school break day camps. A diverse curriculum offers camps from coding to cooking and everything in between.

Birthday parties are another option that franchisees can implement on weekends. These allow families to select from over 40 themes for children ages 2-14.

IDEA Lab Kids franchisees recruit top talent from nearby universities to empower young learners in a safe, healthy environment. Classes provide a 12:1 student-to-instructor ratio to ensure personalized instruction for students of all levels. With more than 50 innovative STEAM courses, the franchise’s ever-evolving menu of fun and learning experiences has reached more than 25,000 IDEA Lab students and alumni.

How Much Can IDEA Lab Kids Franchise Owners Make?

According to the IDEA Lab Kids 2023 FDD and Item 19, historic financial performance representations of franchise-owned outlets for the last four years are as follows:

How Much Does It Cost to Open an IDEA Lab Kids?

The total investment necessary to begin operation of an Idea Lab Kids franchise is $163,000–$465,000. This includes $40,500 that must be paid to the franchisor or affiliate.

This includes:

The total investment necessary to begin operation under a three- to five-unit Multi-Unit Development Agreement is $224,350–$585,370. This includes $105,850–$129,250 that must be paid to the franchisor. You must develop at least three IDEA Lab Kids units that you are required to develop under the Multi-Unit Development Agreement.

This includes:

What Is the Franchise Fee for IDEA Lab Kids?

The initial franchise fee is $35,000.

Who’s on the IDEA Lab Kids Leadership Team?

Devina Bhojwani, President of Lyricos Learning
Ghazal Qureshi, Founder of IDEA Lab Kids
Andrea Coan, Director of Client Success
Adam Gockley, IDEA Lab Kids’ First Franchisee

What Helpful Articles Can I Read to Learn More About IDEA Lab Kids?

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