How much money could I make?
The average gross revenues per campus is approximately $289,000 with net passive revenues hovering from $100,000 to $116,000 on average (your 80% revenue share). Overhead averages around 30% since all turnkey campus systems and education components are in place and developed already. In essence, you turn the key on the lock, and you are in business. There’s no other investment that has a complete return (initial entry fee) within three months of startup (post state licensing). Not even real estate which now is very volatile and unpredictable. Vocational schools represent a 500 billion a year industry (second only to healthcare) with career schools becoming a very viable option (fast completion times and affordable) for not only high school graduates, but also out of school working adults. Since 2004, we have never seen a slow down of enrollments! So if you’re worried that you’ll get enough students; Don’t. Not only is the demand there, but so is a professional marketing team with higher education specific experience to assure enrollments are always good.
Does the size of my market make a difference?
Not at all. Schools will always be profitable. Obviously the larger the market, the higher the revenues. We have schools in markets with a population base of 25,000 all the way up to 4 million inhabitants. Your campus population base will determine the territory protection size in mile radius. See our Business Prospectus. If you’re concerned about being in a small town, we also have the Master License Dentist program which allows you to develop other campuses in your state without any investment or operating costs. Those are handled by other dentists or MCP run schools, allowing you to make 10% of revenues from any of your branch campuses operating under your state license. All managed by MCP campus staff so you’ll have comfort in knowing that all your campuses will be state compliant and quality assurances in place.
Is my territory protected?
Absolutely. We take this seriously. Whether you have a 7-mile protection radius (larger populations), 12-mile radius (mid-sized populations), or 25 mile radius (smaller populations), you can rest assured that no other MCP Powered schools will be able to launch in your territory. Our signed (annual renewal) agreement states your territory radius surrounding your practice zip code.
When will I receive payment?
Students never pay tuition and fees to MCP. You’ll set up a school bank account for all funds to be deposited directly. So you’ll collect all monies. Our tuition lending platform partners will set your campus up so that all tuition loan payouts (up-front payout to you with no recourse) will also be deposited into your school account.
Do I have to carry school insurance when the school is in my office?
Yes. The state will require proof of school liability insurance. This is a monthly operating cost. We have a source that will take care of this for you and costs minimally (about $98 per month). Coverage is $1 million per incident and $5 million in the aggregate. So yourself, your school, and your equipment are all covered during school hours and extends into the externship sites.
Who purchases the supplies?
School supplies (disposables) costs are included in the tuition cost. If you order from your existing supplier in bulk per quarter you’ll save more. Supplies are normally around $86 per student. We suggest you store them in a separate location.
Who teaches the classes?
That’s your decision. Some dentists prefer to teach the first class. Others will have an experienced dental assistant or hygienist . (most states usually require minimum 3 years experience) that want to teach the course and earn extra income without traveling to another location. Instructors are typically independent contractors so there are no wage taxes or employee benefits. Dependent on the part of the country, most campuses are paying their assistants $25/hour to teach.
What equipment of the office's does the school use?
The school will use some of your basic dental equipment. Your computers are never used. We partner with Dentrix who will provide each student training software to install on their laptops. If a student does not have a laptop (the majority will), they can be coupled with another student for that training day. There are some other minor equipment you r school should have. We will supply you with the list.
What happens if my equipment gets damaged?
In the unlikely event that this occurs, your insurance will cover it. With our low student to teacher ratios (max 15:1) per quarter, there are always eyes on the students. The students are trained to respect the office and the equipment and they're never left alone to use the equipment.
Will this create more work for my office manager or employees?
The school is entirely separate from your office. Even the school phone number for student calls is provided and goes directly to our student recruitment team/call center. No interruptions to the practice is key. Open houses, instruction, and even campus tours are held or scheduled during non-patient hours. The school is managed 5 days a week by our Administrative Office. We answer all phones and handle all campus management duties.
When can I cancel?
We don’t draw you into lengthy, complicated contracts. We are confident that the great majority of our dentist partners will continue to operate their profitable schools. Our agreements are renewable on an annual basis. If you wish to cancel after the year, you have to finish any class that has started. You need to let us know 60 days prior to a class start date to cancel so we can locate and reassign that territory. On average, our university partners stay with us for 5 years or more.
How do I structure my school?
Typically, an LLC is the best form of school structure for a variety of reasons. Our business team will guide you every step of the way so you can avoid expensive legal fees to form your school business - at no cost.