The new, new thing in franchising

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The new, new thing in franchising

Learning centers are taking off, but watch out for trendy franchise

concepts experts say - a solid business model and proven success will

always be in vogue.

By Jessica Dickler, CNNMoney.com staff writer

January 17 2007: 12:29 PM EST

 

 

NEW YORK (CNNMoney.com) -- With many franchisors capitalizing on the

convenience trend, you can find services that help you do everything

from cooking, cleaning, day care and even teaching your kids some

shortcuts to get ahead in their toughest classes.

 

One of the latest such franchises, Math Monkey, aims to teach kids,

aged six to 12, concepts based on the principles of Vedic math.

 

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"Vedic Mathematics" is based on an ancient Indian system of

mathematics, which was rediscovered in the early 1900s.

 

The Vedic math system of calculation allows problems to be solved

without calculators, pencil or paper, based on sixteen formulas.

 

"It's a way of looking at numbers and thinking about numbers that

really illuminates the entire system of mathematics," said Kirsten

Fisch, president and CEO of Math Monkey.

 

Fisch, who has a background in early childhood education, founded

Math Monkey Knowledge Centers in September 2005.

 

Now Math Monkey, which claims to be the only supplemental education

franchise dedicated to teaching kids Vedic math, is becoming

increasingly popular.

 

Since the business model started to franchise in the summer of 2006,

there are currently about 20 franchises in Florida, Georgia, Missouri

and California, but they hope to get up to 300 locations by the end

of 2009.

 

Fisch insists that Vedic is not a new trendy way of teaching

math. "Math is everywhere, it's in everything we do," she said. "I

don't think there is anything trendy in that."

 

But with all the hype surrounding Vedic lately, one can't help but

wonder if the buzz might soon fade.

 

When a fad fades

Other franchises that have sought to capitalize on a single trend

have had mixed results in the long run.

 

Of course few franchises last forever. Singer Sewing Machine, Super

Value Stores and the Schwinn Bicycle franchises all enjoyed a

prolonged heyday before closing their doors and becoming relics of

another era.

 

"As the economy has changed and we have increasing numbers of working

parents, you've got issues related to childcare. And clearly that's a

phenomenon," said Matthew Shay, president of the International

Franchise Association.

 

The rise of convenience-based franchises fills a need for

consumers. "We've gotten accustomed to immediate gratification," Shay

said.

 

And the increasing number of learning centers reflects the pressure

on the marketplace to deliver solutions, he added.

 

In the long run, if a business succeeds in making life easier for

you, then it has a good chance on success, according to Lori Kiser-

Block, the president of FranChoice, a franchise consulting firm.

 

"Convenience is hot," she says.

 

But for those looking to invest in a franchise opportunity, a solid

business plan and financial stability is more important than a hot

new concept, Kiser-Block warns.

 

A successful franchisor must be able to re-invent the business model

to stay current. For example, some of the more successful franchises

in the once-hot tanning segment have evolved into spa services, which

are more of the moment.

 

"Those franchisors figured out a way to stay in touch with their

customers," Kiser-Block said.

http://money.cnn.com/2007/01/17/smbusiness/math_monkey/?

postversion=2007011711