When the owner of the Kumon Math & Reading Center of Arkansas announced her retirement, Nicole Davis faced a pivotal decision. As the employee managing daily operations, she was offered the chance to purchase the business—but had no experience navigating business ownership. That’s when she turned to the Arkansas Small Business and Technology Development Center at the University of Arkansas (ASBTDC, UA).
Kumon is a well-established math and reading program for students from pre-school to high school where students, with individualized lesson plans, work at their own pace and master each new concept before moving forward to the next task.
While Nicole brought valuable experience as a trained and certified Kumon instructor, she lacked the business acumen needed for ownership. “She needed guidance on everything A to Z to acquire the Kumon franchise and purchase the business. Mary Beth Brooks, ASBTDC business consultant, provided essential resources including a comprehensive business plan template, industry-specific information, and access to ASBTDC’s extensive online toolbox.
Determining the valuation of the business, Brooks worked with Nicole on financial projections in preparation for the needed loan package and acquisition of the franchise.“Mary Beth provided valuable advice and answered my questions any time I needed help,” said Nicole.
The purchase of the center was successful with a small business loan through Legacy Bank and Nicole assumed ownership and manages 6 part-time instructors. “Our role is to bring out the potential in each child,” according to Nicole. This philosophy mirrors ASBTDC’s approach to small business development—whether entrepreneurs are starting, buying, or expanding businesses, the center’s consultants prepare clients for sustainable success.
“Mary Beth was very helpful in not only providing me with assistance and information but in building my confidence as a new business owner,” offered Nicole. “She was always available for any questions on issues when I needed her perspective.”
1806 N. Crossover Rd., Suite #1
Fayetteville, AR 72701
Kumon