When you get access to the FDD, you should call our owners and ask them what their work-life balance is like. They’ll tell it how it is!
Not to worry, if you are seriously interested in owning and qualified to own a Learning Express and have the patience to follow the first three steps of our process, you’ll receive our FDD Item 19 and have access to call every one of our franchisees and ask them questions related to building your pro-forma financial statements and business plan.
Our storeowners can compete and win against Amazon and other online competitors through our Team, Product & WOW! (TPW) philosophy:
- Team: Learning Express team members are trained to engage the customer, demo product, dress up as popular costume characters, gift wrap, identify the perfect gift and provide a buying experience that isn’t possible online. True, it’s hard work, but it’s those store owners and team members for whom running a toy store doesn’t seem like work who are the best at their job.
- Product: The internet is an extremely efficient platform if you know exactly what you want. Learning Express cuts through the clutter for the customer and merchandises product in a way that it can be experienced, not analyzed. People love to shop in physical stores where they can see, touch, hear and smell product. What’s more, there are many toy categories that lend themselves to a brick and mortar shopping experience, such as fashion, dolls, plush, party favors, impulse, candy, and many more.
- WOW Experience: If the Team and the Product weren’t enough to engage the customer, our focus on providing a WOW Experience for the customer is what drives customers back to the store, week after week. Our stores are a playground for the imagination, where you can play a new game with a sales associate, try out the newest gadgets, participate in an art or community event, or just browse the unique product selection that isn’t readily visible online. In our stores, you are in the moment, and you can feel the excitement.
Once you have found a location that looks appropriate, we will help you negotiate the business terms of your lease in a document called a Letter of Intent, or LOI. The LOI will contain key lease information like rent, term, renewal options, tenant allowance and more. Once you agree to an LOI, the landlord will provide a lease, which you will review with your attorney.
Example: A store is 2,500 square feet with an annual base rent of $25 and annual NNN charges of $5. The Gross Rent would be $25 plus $5, or $30, multiplied by 2,500, or $75,000 per year. The monthly lease payment would be $75,000/12, or $6,250 per month.