(Oradell, NJ) Noting that there are more than 2,500 U.S. based franchises for entrepreneurs to choose from, The Wall Street Journal’s StartupJournal.com report cuts through the clutter by identifying 25 high performing franchise brands. As the only supplemental education services organization included on the list, Huntington Learning Center is lauded for criteria that include well-experienced leadership, strong financial health and a proven record of franchising success. StartupJournal.com developed its report in partnership with FRANdata, an Arlington, Virginia-based independent franchise information company.
“The search for the right franchise can be a real obstacle course through thousands of opportunities before you find the right path for your interests and needs, so it’s great to see this well-researched road map for success,” said Huntington Learning Center Chief Executive Officer J.J. Sorrenti. “With more than 28 years of experience as the longest running provider of tutoring services, we’ve worked hard to develop the infrastructure and leadership that potential franchisees can bank on.”
To create the list, StartupJournal.com began with a review 1,458 systems for which detailed 2005 performance information was available, based on Uniform Franchise Operating Circulars, including audited financial statements. The list was reduced to a group of 37 companies that offered seven or more years of experience in franchising, at least 100 franchise units, and a below-average 2004 turnover rate. That list was narrowed down to 25 based on such variables as net income and shareholders equity ratio, projected additional franchise units for 2005, unit cancellations and top executives’ experience at the company.
As noted by FRANdata president Darrell Johnson in StartupJournal.com’s news release about the list, “a company’s years in franchising and its number of franchised units are important because they show the experience a company has in franchising.” Johnson also notes that companies with a greater number of franchise units have “experience dealing with a wider range of services, franchise business issues and franchise personalities.”
StartupJournal.com recommends the list as a “starting point” for individuals searching for the right franchise opportunity, and plans an ongoing series of franchising articles to help readers identify franchises that will make the “best use of their investment.” For more information about StartupJournal.com, visit www.startupjournal.com. Founded in 1977, Huntington Learning Center is a pioneer and leader in the franchise learning center arena. Through learning centers in 38 states, Huntington provides instruction in reading, writing, spelling, phonics, mathematics, study skills and SAT and ACT preparation to tens of thousands of students in kindergarten through 12th grade.
"Our proven business model is tailor-made for individuals who want to make a profound impact on the educational achievement of students in their communities,” said Dr. Raymond Huntington, who co-founded Huntington Learning Center with his wife Eileen Huntington. “Parents and teachers trust us because they recognize that Huntington’s mission is to give every child the best education possible.”
Huntington’s recent growth has been fueled by the rising number of parents and families seeking tutoring for students facing difficulties in meeting increasingly rigorous academic standards. According to consumer research, families see significant value in companies that can demonstrate a measurable, long-term track record of success in enabling students to bridge gaps in skills and knowledge and earn higher test scores. Since 1998, the supplemental education services industry has grown at a compounded annual rate of nearly 12 percent, reaching $6 billion in 2004.
The need for supplemental education services is driven further by the rising number of students enrolled in K-12 public and private schools. According to the U.S. Department of Education, enrollment in elementary and secondary schools rose 20 percent, to more than 53 million students, between 1985 and 2005. The pool of school-age children is expected to grow by an additional two million over the next 10 years.
“Today’s parents and caregivers recognize that they are consumers of education, and they want to be assured that their children are receiving all the support they need to reach their academic potential,” said Sorrenti. “One of our key initiatives over the next several years is to respond to the tremendous number of franchise candidates who are attracted to this vast and growing market, and continue raising achievement among K-12 students nationwide.”
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Founded in 1977, Huntington Learning Center is a pioneer and leader in the franchise learning center industry. Each year, we provide quality instruction to tens of thousands of students through our national network of franchised and company-owned Huntington Learning Centers. Parents trust us because they understand our mission is to give every child the best education possible, and we do this by building the basic skills needed to succeed in school. More info