FRANCHISE

Frequently Asked Questions

Franchise FAQ

We have answered a few questions that you may have regarding ICan Education Franchise opportunity.

First step is always to fill out an ICAN Education Franchise Application Form. This does not obligate you to ICAN Education in anyway and is simply used to help determine mutual compatibility. Upon receipt and review, we will contact you and arrange a telephone interview. If we both agree to proceed, then we will forward our Franchise Disclosure Document for your review. This document contains all the information for you to diligently investigate our Franchise operation. This is followed by a personal face-to-face meeting, which will then lead to our approving you as a franchisee. It is that simple

 

What Types of Opportunities Are Available?

Individual and Multi-Territory Franchise opportunities are available.

What is the Initial Term of the Franchise Agreement?

Ten Years is the initial term of the agreement, with two further five year renewal periods.

What is the Initial Franchise Fee

ICAN Education has an initial franchise fee of between $25,000 and $45,000 (plus applicable taxes), depending on the population size of the territory.

How much does it Cost to get an ICAN Education Centre Fully Operating?

The average cost for the total Franchise with construction, all fees (including franchise fee), opening inventory and equipment is approximately between $75,700 and $129,500. This can vary from location to location based on size and area of the lease space, permitting, legal, territory population and a number of other factors. All costs on each location are estimated before hand and evaluated by ICAN Education and the Franchise Owner.

What are the Other On-Going Costs

There is a 7% Franchise Royalty fee and a 2% advertising Fee, payable monthly and based on the previous months’ Gross Sales revenue.

Does ICAN Education provide an Exclusive Territory?

Yes, your territory is exclusive for the duration of the franchise agreement.

Will ICAN Education Assist me in finding a Suitable Location?

We assist all signed Franchisees in finding suitable locations. All sites must be approved by ICAN Education before any lease can be signed. We use demographic software, Census Canada statistics, various financial models, as well as significant in house experience to help with evaluation of locations. ICAN Education handles all construction and retro-fitting of locations.

Does ICAN Education offer Financing to Franchisees?

ICAN Education does not offer any financing options at this time. We will assist in providing contact information and company information to various lending institutions for application to the SBL (Small Business Loan) program.

Who Signs the Lease?

For the most part, Franchise Owners are responsible for executing leases. However, depending on the situation, ICAN Education will, at times, go on the head lease.

How Long does it take to Open an ICAN Education Centre?

Typically, it takes 6-10 weeks from the lease signing to be open and doing business. This can vary from location to location depending on permits, by-laws and other factors.

What training do I Receive from ICAN Education?

It is a comprehensive program that covers all aspects of running the business and the franchise. There is also initial centre opening support where an ICAN Education executive will assist in the opening of the centre.

Can I transfer my Franchise?

Yes, it is yours to transfer at anytime after three years of operation. All buyers must be approved by ICAN Education and all transfer fees and costs must be adhered to.

How Much will I make from owning an ICAN Education Franchise?

Individual results vary based on income, costs, rent levels, effort and a number of other costs/variables. All centres perform independently and are exclusive to their own business environment.

Steps to Opening Your ICAN Education Centre

Moving from an inquiry, through to signing a Franchise Agreement and opening your store will take some time, with specific timeframes varying from location to location. We want to make sure that you have all the information you need in order to make an informed decision about our Franchise System, so please carefully read the information we provide and ask as many questions of us as you need to. We sincerely look forward to working with you to ensure that this is the right opportunity for you.