Primrose Schools® Reports Record 2013 System Revenue As It Expands Coast-to-Coast with First Primrose California Preschool Nation's Leader in Educational Child Care® On Track to Open 500th School by 2020
PLEASANTON, Calif., Feb. 11, 2014 /PRNewswire/ -- On the heels of reaching unprecedented system revenue in its 32-year history, Atlanta-based Primrose Schools®, the Leader in Educational Child Care®, recently expanded its footprint coast-to-coast with the opening of its first California preschool in Pleasanton.
With more than 275 independently owned and operated schools now in 19 states, Primrose is on pace to open its 300th school in 2014 and its 500th school by 2020.
"The demand for high-quality, educational child care has never been higher in this country," said Jo Kirchner, President and CEO of Primrose Schools. "And Primrose – along with committed and passionate parents and Franchise Owners with diverse professional backgrounds – will continue to meet that demand from California to Connecticut, from coast to coast."
Primrose School of Pleasanton opened its doors to students Feb. 3 and will officially mark its opening with a grand opening event Saturday, Feb. 22 from 10 a.m. to 2 p.m. As with all Primrose schools, the new Pleasanton location offers the company's exclusive Balanced Learning® curriculum, which blends teacher-guided and child-initiated activities with a special emphasis on character development for children ages 6 weeks to 5 years old.
Primrose executives have identified communities in four key California markets ready for immediate expansion due to high demand for quality child care providers: San Francisco, Los Angeles, San Diego and San Jose.
Primrose executives are actively scouting real estate throughout these areas and meeting with aspiring business owners interested in independently owning and operating a day care franchise. Each new Primrose school will positively impact the California state economy by creating approximately 25-30 new jobs and awarding approximately $2 million to $2.5 million in local development contracts.
California isn't the only state on the radar for Primrose Schools. The rapidly expanding educational child care franchise has identified communities within the following cities or states as growth markets for 2014: Boston, Chicago, D.C./Northern Virginia, Minnesota and New Jersey.
2013 Financial Results
System revenue at Primrose Schools was at an all-time high in 2013 and included the strongest quarter on record in the company's 32-year history. Primrose opened 20 schools and awarded 44 franchising agreements in 2013 – an increase of 12 percent and 47 percent, respectively, over the previous year.
Between 2010 and 2012, Primrose experienced strong revenue growth and is up nearly 50 percent in new franchise awards year over year. Nearly one in four Franchise Owners owns multiple schools (an industry high).
Primrose plans to continue this upward momentum by awarding 40 additional franchises and opening 25 new schools – including its 300th school – in 2014.
"These strong system results reflect consumer demand and respected leadership of the Primrose brand within the growing child care industry," said Chris Goethe, Vice President of Franchising for Primrose Schools.
Industry Growth & Trends
According to Kirchner, Primrose remains well positioned for growth, as the child care industry overall grows in response to the nationwide crisis in early childhood education. Industry research firm IBISWorld projects that the $46.6 billion child care industry will continue to grow in 2014 and beyond as the economy continues to recover, unemployment decreases, and more parents reenter the workforce. Education-based child care businesses such as Primrose are expected to grow even faster than the overall day care market.
Research shows that 85 to 92 percent of a child's brain has already developed by age 5. According to the National Research Council, high-quality education during a child's first years helps develop cognitive skills, as well as compassion, strength, independence and a love of learning — qualities that are easy to take for granted but that need to be nurtured from birth onward for success in school and later life.
"Research about the importance of the first five years in a child's life is undeniable," said Kirchner. "As parents learn more about how critical the relationship between their children and child care provider is, we receive more phone calls about how to enroll their children in a Primrose school and how to start a Primrose Franchise themselves."
Goethe also points to the Company's ability to attract highly motivated, passionate Franchise Owners as a key factor in system growth.
"We attract Franchise Owners who want greater security through business ownership and more time with their families," he said. "When prospects evaluate franchise opportunities, they want franchisor support and an established business model that they can use as a roadmap on their new journey."
Approximately 73 percent of current Franchise Owners were once parents in a Primrose school. Another 7 percent of Franchise Owners knew a child who attended or they personally worked in a Primrose school.
That is the case with Primrose School of Pleasanton Owners Nick and Samina Kurji. A family friend first introduced the Kurjis to Primrose Schools while they were living in Dallas. During a vacation in California, the Kurjis noticed a high demand for premium early education options in the Bay Area. Their passion for education and desire to bring the Primrose Experience to more families motivated the long-time Dallas residents to relocate to Pleasanton.
"As parents, we believe instilling a love of learning during a child's early years is essential to building a new generation of bright citizens," said Nick Kurji. "After learning about the unmatched curriculum, teaching methods and passion of those involved with Primrose, we quickly became avid supporters of the brand and are committed to providing the Tri-Valley community with the best child care experience possible."
According to Goethe, there is a unique story behind each Primrose Franchise Owner, but they all share one common theme. "At the core, our Franchise Owners all care deeply about investing in children and families in their local communities."
Primrose School of Pleasanton is currently accepting applications for new students and staff. For more information on joining the Primrose Pleasanton family, visit www.PrimrosePleasanton.com.
Primrose franchise opportunities currently are available in California and growth markets throughout the country. Learn more at http://www.PrimroseFranchise.com.
About Primrose Schools®
Founded in 1982, Primrose Schools is the nation's leader in providing a premier educational child care experience in more than 275 schools in 19 states. Each Primrose is independently owned and operated by our Franchise Owners. They partner with parents to help children build the right foundation for future learning and life, and offer an environment that helps children have fun while nurturing Active Minds, Healthy Bodies and Happy Hearts®.
The Balanced Learning® system, consistently delivered in all Primrose schools nationwide, is designed to provide high-quality, educational experiences to support children's social-emotional, cognitive, creative and physical development. It is made up of an exclusive standards-based curriculum that enables teachers to help children gain the knowledge and skills that will enable them to move successfully from one level of development to the next as well-rounded individuals. The system also offers developmentally-appropriate materials and equipment for all classrooms; multiple forms of assessment; and extensive training for teachers.
Primrose is the first early childhood education organization in the country to receive AdvancED Corporation Systems Accreditation under the new Standards for Quality Early Learning Schools. This accreditation ensures all Primrose schools meet the highest quality standards and shows they are continually improving student learning. For more information, visit www.PrimroseSchools.com.
SOURCE Primrose Schools