Sylvan Learning, Inc., North America’s most recognized provider of supplemental education, announced today that for the first time in its history, it is offering more than $48,000 in financial incentives to new Chicago franchisees. Chicago is a priority growth market in Sylvan’s 2010 expansion plans. The company is seeking franchisees in the Chicago area to develop 12 new centers throughout the metro area. Within the past two years, Sylvan has sold 10 territories in the Chicago area.
As an incentive, Sylvan Learning is offering new franchisees in Chicago a $25,000 promissory note that is distributed after they sign a lease and the center opens. The $25,000 loan is forgivable if certain performance criteria are met across a five-year period. In addition, new franchisees will receive a 50 percent discount off of the start-up kit, which is a $20,000 savings. Both incentives require that the center must open on or before January 1, 2011. This offer is available for a limited time in Sylvan’s priority growth markets, including Atlanta, Chicago and Miami.
“In many parts of the United States, we’ve experienced increased demand for supplemental education services,” said Doug Grindstaff, Sylvan Learning’s vice president of franchise growth and services.