College Nannies and Tutors

At a Glance

Products & Services: Nanny-placement, babysitting, tutoring

Number of Locations: 75

Total Investment: $172.2K - $224.2K

Founded: 2001

Began Franchising: 2005

About College Nannies and Tutors

In the summer of 2000, business school student Joseph Keeley took a job as a nanny in Edina, Minnesota. He recognized a need for a service to connect parents with safe and reliable nannies and tutors, so he created College Nannies & Tutors in 2001 to help match families with college students, graduates and teachers. Based in Wayzata, Minnesota, the company began franchising in 2005.

Franchise Units

Year U.S. Canadian International Company Owned
2014 74 0 0 1
2013 71 0 0 1
2012 80 0 0 0
2011 78 0 0 0
2010 66 0 0 0
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $172,200 - $224,200
Franchise Fee: $35,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $400,000
Liquid Cash Available: $50,000
Operations
Number of employees needed to run franchised unit: 2 - 3. Absentee ownership of franchise is allowed..
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 1 week. At franchisee's location: 8 weeks.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Other marketing support: Proprietary online resource center

Franchise Ranking History

Franchise 500®: #224 (2012), #244 (2011), #432 (2010),
Fastest-Growing: #102 (2010),
Top New: #21 (2010),
Top Home-Based: #61 (2012), #74 (2011),
America's Top Global: #189 (2011),

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