Monkey Music Franchise: A Franchise Thatís Childís Play
Musician and teacher, Angie Coates, started Monkey Music back in 1993 when she realised the benefits of exposing little ones to music from an early age. Following huge demand, Angie developed the childrenís franchise in 1998. Now there are 50 franchises operating in the UK teaching children to learn through music from as young as 12 months old.
The numbers speak volumes
Not only has Monkey Music won numerous business and franchising awards, but their impressive facts and figures speak volumes about the type of business they are.
- A true indication of how satisfied existing franchisees are in the business is the number of original investors that have recently renewed their fourth franchise agreement with Monkey Music.
- Accounts show that 98% of Monkey Music franchises established for over 2 years reported a profit. For businesses in their first year, nearly half were already generating a profit from the franchise.
- Nearly a third of established franchisees reported sales of over £100,000.
- Customer growth has also increased year-on-year with almost 20,000 children attending classes.
And as this childrenís franchise commits to invest and innovate, the business will continue to grow making it one of the best franchises to buy for ambitious entrepreneurs.
But donít you have to have formal musical qualifications to join the Monkey Music franchise? The answer is no. In fact, you donít need any form of musical education or background. You simply need to have a passion for music and the educational benefits that it has for young children.
There are two options for a Monkey Music franchise; one where you manage the business as well as run classes, and the other where you focus on business development and recruit teachers to take the classes. If youíre planning to teach in your franchise, then youíll need to be able to carry a tune and project your voice well.
What about previous business experience though? Well, thatís not necessary to become a Monkey Music franchisee either. Youíll be given six days of comprehensive training on how to run the Monkey Music franchise, including marketing, recruitment and child protection. These types of businesses are the best franchises to buy for wannabe entrepreneurs that need the reassurance of the support and advice thatís on offer.
Other than passion for education through music, this childrenís franchise is seeking good communicators who are determined and motivated. Prospective franchisees should also be organised and can drive.
Youíll be expected to run regular classes for a minimum of 36 weeks per year. How many classes per week you choose to run during this time is up to you. Thatís the beauty of the Monkey Music model. You can work as a part time franchise, or operate on a full-time basis. How much you earn is up to you. Many franchisees opt to run workshops in the school holidays, at one off events and in private nurseries, but there is no contractual commitment to do so.
Zed Tooke started his Monkey Music franchise in September 2014 and hasnít looked back since. Now running a successful business in Maida Vale and Marylebone, this really was the best franchise to buy for the previous band member.
With a background in music and marketing, Zedís sister introduced him to the opportunity after she set up a franchise in another territory with her husband. Zed loved the fact that Monkey Music combined his passion for making music with working with young children.
Zed started working in the business as an office manager, but soon took the next step to becoming a franchisee. Zed chose to start his business on a full-time basis, but the opportunity is flexible enough to be run as a part time franchise.
And itís this flexibility that Zed appreciates most from the opportunity. Being able to work during school term times and have holidays free has enabled Zed to fit the business around his personal life and has resulted in a less stressful and pressurised career choice.
Zed likes the fact that the company is continually growing and developing and recommends buying into the franchise to as many people as he can. The only negative aspect of running a Monkey Music franchise for Zed is the fact that he struggles to walk past a buggy without turning into an opportunity to generate more business.
With a baby on the way Zed canít wait to introduce his new born to the benefits of learning through music too. And he can be safe in the knowledge that should his personal circumstances change when the new family member arrives, he has the option of changing to a part time franchise to achieve the right work / life balance.
The initial Monkey Music franchise fee is £12,975 plus VAT. Although this is a great low cost franchise opportunity, you should bear in mind that youíll need money for working capital, marketing and computer equipment. Eventually, your profit will be able to cover the cost of these business expenses, but for the first couple of months you will need the safety net of savings put aside.
Just some of the features of the franchise package are:
- An exclusive territory using the Monkey Music brand and trademarks.
- Access to the Monkey Music syllabus including almost 500 songs and lesson plans for every teaching week.
- A franchise kit containing percussion instruments, marketing material and branded stationary.
- National advertising campaigns.
- Free downloadable business resources.
- Online chat functionality for top tips and advice.
- Health and Safety and Child Protection training tailored for the Monkey Music franchise. Youíll sign a franchise agreement for five years, but this will be renewable for a fee if youíve fulfilled certain criteria as a franchisee. Youíll be informed of what these criteria are when you start to review a draft of the franchise agreement with the franchisor and your solicitor.
All being well, this franchise opportunity will enable you to own and operate your own profitable business while making sweet music together!
The Editorial Team, Point Franchise ©
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