The math-only supplemental education franchise saw significant growth in the first half of 2024 and remains focused on expanding both domestically and internationally.
After a strong showing in 2023, Mathnasium Learning Centers has kept the momentum rolling through the first half of 2024. The math-only supplemental education franchise — with more than 1,100 learning centers worldwide in 11 countries — has hit midyear with an impressive 58 franchises awarded and 26 learning centers opened between January and June. As Mathnasium moves into the latter half of 2024, the brand is hoping to open another 25 centers in North America and another 5-10 internationally before the end of the year.
In addition to its impressive expansion, Mathnasium also racked up a remarkable number of industry accolades, including No. 97 on the 2024 Entrepreneur Franchise 500, No. 7 on Entrepreneur Top Low-Cost Franchises, No. 84 on Franchise Direct Top Global Franchises, and spots on Franchise Business Review Top 200 and Franchise Connect Top 100 Education Franchises.
“One of the keys to our successful growth through early 2024 was our franchise disclosure document [FDD],” said Chief Development Officer Kevin Shen. “Candidates were very excited to see our updated FDD, which showed strong growth across the board and improved unit economics. Our new master franchise signing in Romania was also a hot topic.”
The signing in Romania was completed in June with Dana Banica, an experienced entrepreneur with a passion for innovative education. Under the master franchise agreement, Banica will bring at least 25 learning centers to Romania over the next six years.
“I chose to invest in Mathnasium because I wholeheartedly believe in the brand’s mission and methodology,” Banica said. “Drawing from my past experience and witnessing the positive impact of engaging educational programs, I recognized Mathnasium’s potential to truly make a difference in Romania.”
June 2024 was also a time of transition for the brand as former Chief Operating Officer Tyler Sgro became Mathnasium’s new CEO.
“It is an honor to step into this position, having served as COO and witnessing firsthand the dedication and talent that drives our team and network to be leaders in the global private tutoring space,” said Sgro. “Our mission remains the same: to change lives through math!”
Other achievements during the first half of the year included investment in Mathnasium’s technology.
“We continue to invest in our proprietary technology and analytics stack, which powers our center operations through advanced marketing automation, lead/account management, and training,” Sgro said. “We also completed our custom digital platform, which powers our Mathnasium at Home learning offering, bringing the Mathnasium method and instructional tutoring to the ease and convenience of a student’s home.”
The second half of 2024 promises to be eventful as Mathnasium dives into its busy back-to-school period, but Shen insists the brand has no intention of slowing down its expansion plans. “Our goal is to continue signing up new buyers to our many growth markets in the U.S.,” he said, “as well as develop master franchisees internationally.”
To find out more information on costs to buy this franchise, please visit 1851franchise.com/mathnasium/info.
Source: Irby, C. (2024, July 31). Mathnasium Franchise Midyear 2024: Strong Growth and Expansion. Retrieved October 10, 2024, from Mathnasium Learning Centers Sees Strong Midyear Momentum with 58 Franchises Awarded, 26 Centers Opened, a New Signing in Romania, and a New CEO website: https://1851franchise.com/mathnasium/mathnasium-franchise-midyear-2024-2726891#stories
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