Kip McGrath Education was started by Storm's father, Kip, from a garage in 1976.Over the years, KME has gone through many challenges and changes to become the global education provider it is today.In this episode of the Australian Investors Podcast, Storm McGrath and Owen Rask talk about: KME's origin story Why a fixed fee model doesn't work for franchise businesses The market for tutoring young children and why math & English are the core pillars of learning KME's push for company-owned and online tutoring Storm's desire to acquire Tutorfly and move the business into the USA and a new target demographic How KME and Storm think about capital allocation Why now is the most exciting time ever for tutors Resources: Owen Rask on Twitter Kip McGrath website Watch the video version on the Rask Australia YouTube page.Take Owen's Value Investor Program (USE CODE 'LEVELUP' FOR $100 OFF): education.rask.com.au/courses/value-investor-program-course-with-equity-matesTake Owen's Value Investor Program today (USE CODE 'VALUEINVESTOR' FOR $100 OFF): education.rask.com.au/courses/value-investor-program-course-with-equity-mates/Join The Intelligent Investor & saveThis podcast is brought to you by The Intelligent Investor, Australia's premier investment research membership service. Use the code "RASK", to get $100 off your annual membership or get a free 15-day trial (no credit card details required), by heading to:Join today ($100 off): https://www.rask.com.au/ii-100?utm_source=AIPFree 15-day trial: https://www.rask.com.au/ii-trial?utm_source=AIPIf you want to thank us for putting this show together, please give The Australian Investors Podcast a 5-star review on Apple Podcasts - it’s a 5-second task that really helps support the show (and puts a big smile on Owen's face).Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsgDisclosure: at the time of recording and publish, Owen owns shares of Kip McGrath. This is a disclosure and not a recommendation. Learn more about your ad choices. Visit megaphone.fm/adchoices