ON SKY GLOBAL franchisee candidates should have a passion for delivering high quality professional training and certificate programs and helping local area businesses develop their people. However, prospective franchisee candidates should also have the financial stability to get the business off the ground and ensure that the location will be able to run despite potential obstacles. Franchisees’ initial investments may vary widely based on the territory size and location, the size of the first center, and the local market economics.
MINIMUM LIQUIDITY AMOUNTS
Franchisee candidates must have a minimum of $250,000 USD in net worth in order to be considered. Franchisees must generally have at least $150,000 USD in liquid assets as well. Capital requirements for opening multiple centers may surpass several times these amounts.
INITIAL FRANCHISE FEES
Initial Franchise Fees may be anywhere from $10,000 to $35,000. This is done after submitting franchisee enrollment form with OSG and before signing the franchise agreement. Initial Franchise Fees are non-refundable. The initial agreement is for 5 years and could be renewed on mutual acceptance.
In addition to franchise fees, there are up front expenses that franchisees must incur for in order to open an OSG location including rent, training for staff, and taxes on the property. Exterior signs will need to be purchased from local vendors. Furnishings, equipment, hardware, software, inventory, and supplies will all need to be purchased from local vendors before a franchise location can be opened. A local registration/approval from the Vocational Training/Workforce Development Authority under the Ministry of Education in the respective countries must be taken.
Education course material is supplied by On Sky Global and has to be purchased by the franchisee as per the prevailing price list.
Regularly Collected Ongoing Fee
An amount payable each month as a percentage of the total collections of the franchisee