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Icode
iCode franchises provide STEAM-based educational courses and programs for children and adults through two models: the iCode School program, which involves building a dedicated physical school and offering classes at various venues like schools, STEM centers, churches, and libraries within a protected area, and the iCode Reach program, which offers classes at such venues without a fixed school location. The business model revolves around licensing proprietary curricula, operations standards, and the iCode brand to franchisees who develop and operate these educational businesses. The target market includes children, families, schools, and community organizations seeking interactive STEM/STEAM learning experiences.
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Franchise Costs
8% royalty + 2% brand development fee + $500/mo technology fee
Financial Performance
Item 19 Financial Performance
Data Based On: 6 franchised outlets that began their operation prior to 2021 and were open and operating for the full calendar year of 2024, 2023, and 2022.
Extracted Item 19 Section
Avg. Revenue: $394,063
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Unlock financial performance dataIcode Franchise Analysis
Imagine turning kids' passion for coding and STEAM into a thriving business without needing your own brick-and-mortar school every time. iCode's innovative dual-model—School for dedicated sites or Reach for pop-up classes at venues—disrupts traditional kids' education franchises. Item 19 earnings data uncovers revenue patterns worth scrutinizing, and SBA financing history reveals unexpected stability, but a single litigation shadow raises eyebrows: does steady growth outweigh the operational hurdles?
Financially, Item 7 pegs total investment at $316,000-$460,500, including a $40,000 franchise fee, with ongoing costs like 8% royalties, 2% brand fund, and $500 monthly technology fee. Item 19 shines here: average gross revenue hits $394,063 across disclosing units, though median lags at $268,297, signaling variability—top performers likely leverage both models effectively in high-demand suburban markets. For context, 35 SBA loans average $267,926 with just 2.9% default rate, making financing accessible and low-risk compared to edutainment peers.
System vitality shows 47 franchise locations plus 4 corporate, up 4% from 45 in 2023, with 40 projected new units signaling aggressive expansion. Only 2 terminations and 4 transfers suggest solid retention, though one franchisee lawsuit alleged misrepresentation of build-out costs under Texas law, ending in agreement termination—scrutinize Item 20 for trends. Buyers eyeing $300K+ entry should probe venue partnerships and curriculum licensing's scalability, as dual models offer flexibility but demand strong sales hustle amid 8% fees eating into middling medians.
Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.
How Icode Compares
Key Insights
- Higher investment than 92% of Children's Education & Enrichment franchises
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
Icode Current | $316K – $461K | $40K | 8.0% | 47 |
| Mathnasium | $113K – $150K | $49K | 10.0% | 995 |
| MATHNASIUM LEARNING CENTERS; MATHNASIUM CENTERS, | $113K – $150K | $49K | 10.0% | 968 |
| SYLVAN LEARNING, SYLVAN LEARNING CENTER, SYLVAN | $108K – $239K | $37K | 11.0% | 469 |
| CLUB Z! | $41K – $57K | $27K | 6.0% | 319 |
| SOCCER SHOTS | $43K – $54K | $37K | 7.0% | 313 |
Children's Education & Enrichment Average 38 franchises | $211K – $398K | $41K | 7.7% | – |
* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 38 Children's Education & Enrichment franchises by location count.
Locations & Growth
Outlet Growth Over Time
Total outlets at end of each year
Geographic Distribution (2024)
Outlets by state across the United States
+7 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for Icode franchisees (2018 – 2025)
Loans by Year
SBA 7(a) loan activity over time
* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.
35 SBA loans on record
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Unlock SBA loan historyFranchisee Contacts
75 franchisee contacts on file from official FDD filings.
75 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
One franchisee dispute alleging fraudulent inducement, misrepresentation of build-out costs, and violations of the Texas Deceptive Trade Practices Act, resulting in termination of the franchise agreement.
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently Asked Questions
The total initial investment to open a Icode franchise ranges from $316,000 to $460,500. This includes a franchise fee of $40,000. Ongoing royalty fees are 8.0% of gross sales.
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