MAD SCIENCE

Franchising since 1995, Mad Science grew from 57 to 58 franchise locations between 2024 and 2025—a mere +2%—with 12 corporate units and 8 projected new franchises. System transfers hit 5, signaling some owner churn, but 7 SBA loans averaging $455K suggest banks see viability in funding these kids' science ventures. Item 7 pegs initial investment at $132,331-$191,959, led by a hefty $49,000 franchise fee; ongoing fees stack up with 8% royalties, 2% brand fund (or $2,000/year min), plus $227-$500/month tech access, $100/month marketing, and optional $150/month web services—potentially eroding thin margins in a part-time-heavy model.

Item 19 shines brightest: average gross revenue clocks $388,000, but median $323,000 reveals half the 58 units lag below that, implying top performers juice the average while many grind at lower volumes serving schools, parties, and camps. For operators eyeing $100K+ EBITDA potential (after fees and scaling add-ons like NASA programs), the trajectory screams caution—three decades in yet stuck under 60 franchises means limited network effects. Still, low-density markets and evergreen demand for STEM fun could reward gritty owner-operators over flippers.