MATHNASIUM LEARNING CENTERS; MATHNASIUM CENTERS,

The system's track record shows franchising since 2003, with locations inching from 951 in 2022 to 968 in 2023—a modest +2% growth—and 53 projected new units signaling cautious optimism. High system transfers at 93 suggest active resales, potentially indicating owners seeking exits amid challenges, though only 4 corporate locations underscore heavy reliance on franchisees. Item 7 pegs initial investment at $112,936-$149,616 including the $49,000 franchise fee, making it accessible for education plays; ongoing fees hit hard at 10% royalty plus 2% ad fund on top of $2,086 monthly fixed charges ($650 base royalty, $250 marketing, $1,000 digital/local, $186 tech), equating to significant cash flow pressure on lower performers.

Item 19 shines brightly: average gross revenue of $344,816 and median $304,252 across units, implying solid top-line potential from repeat after-school sessions (2+ visits/week at ~60 minutes). SBA data backs viability with 100 loans averaging $151,867 and a stellar 1% default rate, far below industry norms, pointing to financeable, low-risk units. No major red flags like contraction or high terminations emerge, but slim margins after fees—especially fixed costs—mean hitting above-median sales is key; this suits hands-on educators over passive investors, with Roark Capital's backing adding stability to a proven, if not hyper-growth, model.