LOS ANGELES, Feb. 21, 2023 /PRNewswire/ — Mathnasium, an internationally known franchise with over 1,000 math tutoring centers worldwide, ranked No. 80 in Entrepreneur‘s highly competitive Franchise 500® ranking and the first within the math tutoring category. The brand that empowers children to achieve math excellence jumped 15 spots up from last year’s comprehensive list of top franchises.
The annual list is a highly sought-after honor in the franchise industry, as it serves as an invaluable resource for new and existing entrepreneurs who are seeking credible and reputable brands. The ranking formula evaluates brands on several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability.
This recognition comes on the heels of a record-breaking enrollment year, serving over 100,000 children in the U.S. in 2022. The company also experienced a significant increase in median gross receipts. Per the brand’s latest Item 19:
- From 2021-2022: The median gross receipts for the top 25% of centers increased by over 12%, and the bottom 25% of centers increased by over 18%, 2021 – 2022.
- From 2020-2022: The median gross increases for the top 25% of centers increased by 25%, and 31% for the bottom 25%.
The company also strengthened its core leadership team to grow alongside the company’s rate of expansion and support of the system.
– Michael Davis appointed as Chief Executive Officer
– Michael Stanfield appointed as Chief Marketing Officer
– Kevin Shen appointed as Chief Development Officer
“Our team at the head office, franchisees and their employees have a front row seat to seeing how many lives can change through learning math and the impact it has on families, communities and entrepreneurs,” said Michael Davis, CEO of Mathnasium. “The foundation of Mathnasium’s success was built on furthering this mission and seeing the rewarding results. We plan to further our global reach by partnering with existing franchisees who are expanding and new multi-center investors who want to join an industry leading, worldwide network, with a time-tested business model and curriculum.”