ATLANTA, June 25, 2019 /PRNewswire/ -- Primrose Schools, a leading high-quality early education and care provider, announced today the brand's strong success in 2018, achieving 10% year-over-year growth and generating more than $780 million in system-wide revenue. At the end of 2018, local Franchise Owners operated 395 Primrose® schools across the country, with schools open two or more years generating average gross revenues of $2.1 million in 2018. This momentum has continued into 2019, with the company awarding 16 new franchise awards so far this year to open locations in target markets nationwide.
Ranked the No. 1 child care franchise by Entrepreneur for three consecutive years, the company's continued success has fueled its ongoing nationwide expansion and increased interest from real estate professionals to collaborate with Franchise Owners to open new schools across the country. Primrose kicked off 2019 with more than 160 schools in development and 38 new locations slated to open by year-end, including the milestone 400th location.
To support its ongoing franchise development efforts, Primrose recently appointed Steven Fricker as chief development officer to oversee strategic expansion as the company enters a period of accelerated growth, as well as ensure Franchise Owners are provided support through all stages of the school development process.
"Primrose is meeting a critical need for children and families in the U.S. as the demand for high-quality early education continues to grow nationwide," said Steven Fricker, chief development officer for Primrose Schools. "Current Primrose Franchise Owners are enriching young minds and positively contributing to the communities they serve, while benefitting from our unmatched support that empowers them to maximize the performance of their schools."
With quality early education in high demand across the nation, Primrose has identified several markets where there is an exceptional need and thus significant potential for success, including South Florida, Chicago and Southern California, among others. The brand is seeking potential Franchise Owners in these target growth areas who are looking for a meaningful investment opportunity that is rewarding personally and professionally for Franchise Owners.
Additionally, Primrose is actively seeking real estate professionals to assist in identifying future school locations in more than 40 markets throughout the U.S., including Boston, Baltimore and Nashville. Primrose locations attract a high-end demographic of customers and offer the unique benefit of bringing a reliable, steady stream of foot traffic twice a day, each weekday. This consistency, coupled with the brand's flexible site requirements, reinforces why a Primrose school can be a valuable addition to suburban, urban, mid-market, corporate and mixed-use settings.
The brand's real estate development strategy fits a variety of environments, with options including purchasing land and constructing traditional freestanding one- or two-story-buildings; leasing space in multi-tenant office buildings and retail centers; and renovating purchased and leased single-tenant properties. Primrose also offers extensive conversion capabilities and has supported Franchise Owners with acquiring and converting a wide range of one- and two-story buildings, including medical facilities and churches, into new school locations.
"The rising demand for high-quality early education, coupled with our premier brand leadership, reinforces why Primrose schools are an excellent amenity for developers looking to attract and retain tenants. We have a full pipeline of Franchise Owners looking to identify locations that meet their geographic and market needs, and who are ready to purchase or lease sites that fit our ideal criteria," added Fricker.
About Primrose Schools® Primrose Schools is the leader in providing premier early education and care to children and families in the United States. Founded in 1982, there are more than 400 Primrose schools in 29 states today. Each school is independently owned and operated by Franchise Owners who are provided a proven and time-tested business model and exclusive approach to early education, called Balanced Learning®. Primrose offers Franchise Owners the opportunity to invest in a rewarding business that delivers an unparalleled early learning experience for children and families in their community. Through Primrose on Premise℠, Primrose Schools and Franchise Owners enable companies to provide employer-sponsored early childhood education and care at or near their worksites. For more information, visit www.Franchise.PrimroseSchools.com, follow us on LinkedIn and Twitter, and explore our news site.