Franchising is the best method business has yet devised to combine the independence and initiative of individual ownership with the strength and leadership of the organized group. For that reason, we at IQ Abacus strongly believe in the future of franchising. We pledge to do everything within our power to live up to franchising's highest standards and purposes. This means doing all we can to help our franchisees.
However, we recognize, as you must, that you are the single most important ingredient in your own expanding opportunity. You must be prepared to make the sacrifices business people have made through the ages. If you are willing to do this, we invite you to join our program and share our goals of growth and income potential.
Q. Do I need any previous experience?
A. Since this is an educational business, we require that all franchisees have, at a minimum, a Bachelor's Degree from an accredited institution. In addition, IQ Abacus® wants their franchisees to be energetic, financially able team players who really desire their own business and are willing to put in the hard work to make it successful. You bring your desire and we will teach you the business. You do not need to know the abacus before you contact us.
Q. What are typical unit hours?
A. The general hours of operation are after school hours and weekends. Other operation hours may include meeting with parents, special private tutoring, and administration.
Q. Do I receive training from IQ Abacus?
Q. How can I obtain an IQ Abacus franchise?
A. Fill out and submit the Get Acquainted Form. If you qualify, we can begin the process leading to your own IQ Abacus franchised operation.
Q. Am I given any territorial protection?
A. Yes. We will mutually establish a marketing territory that is appropriate for the market condition and location selected within which you will have exclusive rights.
Q. Who builds and equips the unit?
A. The franchisee is responsible for identifying a site to be approved by IQ Abacus®. The franchisee will secure construction professionals to build the unit to required standards. IQ Abacus® will provide a list of all the necessary equipment and inventory to start the operations, and a list of approved vendors from which the franchisee will purchase the items.
Q. Do I receive assistance in opening my franchise business?
A. Yes. In addition to your initial training period, an Operations Specialist will work with you prior to and during your first week of operation.
Q. What form of continuing operational guidance will i receive?
A. First of all, you will receive an IQ Abacus Operations Manual covering the many important facets of your business. As this manual is updated, revisions will be made available to you. Periodically, you will receive company bulletins and memos containing useful management information and important happenings. A continuous advisory service will be available on all promotional, operational and business problems, as well as field and technical assistance.
Q. How soon can I be in operation once I have been accepted as a franchisee?
A. On average, a franchisee can expect to open a unit three to six months after signing franchise agreements.
Q. Can I own more than one unit?
A. The mark of an excellent franchise is the rate at which franchisees own more than one location. IQ Abacus® has a multiple center program that encourages successful franchisees to purchase additional units by reducing the franchise fee for each successive unit.
Q. How much can I expect to earn?
A. Your profit and loss will depend on a number of factors, such as population, your geographical location, the amount of time you spend on the job, how good a business person you are, and marketing conditions. Naturally, as in any business venture, there is no guarantee as to your profitability. We help minimize your risk by giving you the benefit of a well-organized system and concept.
Q. Is financing available?
A. We do not provide financing, but many banks have programs designed to provide financing to start-up businesses like franchises. We will be happy to give you the names of several institutions you can contact.
Q. I would like to study your franchise agreement. Will you send me one?
A. Our Franchise Agreement was developed by attorneys and specialists in franchising and is a valued document which we do not indiscriminately distribute. However, once you have had a personal meeting with our President, we will be happy to provide you with a copy of the Franchise Agreement and our Disclosure Statement.
Q. I'm ready to go! what do I do?
A. First, fill out the Get acquainted Form and submit it to us. Upon receipt, you will be contacted to set up a personal meeting with our president. After we have had an opportunity to meet each other and the necessary disclosure requirements have been met, we require a payment of the franchise fee and completion of the necessary forms. Within three weeks you will receive final notification of your acceptance as a franchisee. If you do not qualify, your payment will be returned in full. If you are accepted, you will be notified and we will then begin assisting you in the development of the franchise.
We have attempted to answer the most commonly asked questions about IQ Abacus. However, we're sure you must have a few more we haven't covered, so please contact us and ask any question(s) you may have. Thank you for your interest!
IQ Abacus Franchise LLC
430 W. Warner Rd. #103
Tempe, AZ 85284
Phone: (480) 763-8272/Fax: (208) 445-4555