Mathnasium Review ~ The Inside Stories

Mathnasium Review



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Mathnasium Math Learning Center Review
Posted by Karl Keller
Business Owner & Franchise Wisdom Editor

 

As a consultant to public and private schools, Larry Martinek saw first-hand the struggles that many students had with mathematics instruction. He spent three decades developing methods and materials to help give grade-school children a better foundation in math. His curriculum became the basis of the first Mathnasium Learning Center, and using his proprietary “Teach and Move On” technique along with over 10,000 custom worksheets covering topics from pre-K to pre-calculus, Mathnasium has been making a difference in the lives of children since 2003. Today there are 300 centers in the United States along with over 60 centers now on four continents.

Mathnasium is an international chain of year-round learning centers where children go to improve their math skills. Each center utilizes the Mathnasium Method, an individually customizable curriculum created through over 35 years of classroom experience and research in order to teach children math in a way that makes sense to them. Mathnasium’s objective is to significantly increase children’s math skills and understanding as well as overall school performance, while building confidence and forging a positive attitude towards the subject.


FRANCHISE UNITS (from Entrepreneur.com)

YEAR

U.S.

CANADA

INT'L

FRANCHISOR

2012

298

7

75

2

2011

253

2

74

1

2010

206

1

68

1

2009

180

1

87

1

2008

152

1

74

1



Startup Costs, Ongoing Fees and Financing

Total Investment:  $82,250 - $136,000
Franchise Fee:  $37,000 (additional franchises are $19,500)
Ongoing Royalty Fee: 10%
Marketing Fee: 2%
Term of Franchise Agreement: 5 years, renewable

Financial Requirements
Net Worth: $100,000
Liquid Cash Available: $55,000

Operations
- Number of employees needed to run franchised unit:  1
- Absentee ownership of franchise is NOT Allowed
- 15% of all Franchisees own more than one unit
- Training is available at Headquaters (6 days)
- Franchisee is given Guaranteed protected territory (based on a minimum of 4,000 children between the ages of 5 and 17 residing in the territory. Currently, the average distance between Mathnasium learning centers is greater than five miles but may be closer if the 4,000 child population is exceeded.)

 

I believe that Mathnasium Learning Centers have got a solid business model, appears to have the ability to be profitable and, as icing on the cake, can give you a great sense of accomplishment.  I personally would love to investigate what they would have to offer for my children but the nearest one is 45 miles away which is a little too far away for us.  Hopefully one will open up closer to us.

Mathnasium Centers have shown consistent growth since the first one opened in 2003 with over 100% growth in just the past four years.  The startup costs are pretty reasonable and if you read and view the testimonials that are on the internet you'll see that what and how they teach has changed the lives of a lot of young men and women.  That, in itself, doesn't put money in the bank but I can honestly say that not everything is about the bottom line dollar.  Watching your future and knowing you had a part in making it better counts for something... and in my book a lot.

When awarded the rights to a Mathnasium Learning Center the Franchisee gains access to a tried and true business model and a team of professionals. Their goal is to help the Franchisee establish a business quickly and confidently. They provide a complete package of “ready to use” marketing and financial tools as well as thorough initial training. Finally, they continue to support the Franchisee with ongoing training, updated materials and performance coaching to help their business grow.

My biggest concern about Mathnasium is that it is an added expense on top of what families already have to account for on a daily basis.  As a rough average, it costs about $250/mo. for a student using the Mathnasium Method of teaching.  When times are tough like they've been in many areas of the country since 2008, Mathnasium Learning, as good as it is, is a discretionary item. I can see where it may be at risk of being deemed expendable when trying to decide whether to feed the family, pay the mortgage, or send your child to EXTRA schooling above and beyond what they're already getting in school.

So, before you jump into this with both feet make sure that it's sustainable in good and BAD times.  It's a great concept and I think is a solid franchise, but even the best franchise may not make it when times are tough.  I'm by no means saying no, just do your Due Diligence and make sure that if you start this franchise, it's got a fighting chance.

If you want to look at other options that may also offer you a great return on your investment and is in the education training field (though not for children I must admit), take a moment and fill out the form to your right.  You may very well find this as exciting and rewarding as starting a Mathnasium Learning Center.

Key "Pros" Of This Business


Guaranteed protected territory
Moderate startup costs
Solid growth (100% larger in 4 years)
Solid business plan
Serious sense of accomplishment


Key Headaches ("Cons") To Consider


May require more than one franchise to generate adequate ROI
Committment to long hours... especially in the evening
May end up being more of a passion than investment
In tough economic times may struggle to attract enough students to cover costs









Is this the right economy to have a long term 3-5 year investment locked up when sudden shifts are readily forecast? Why not invest a minute fraction of that amount in a business that is actually designed for today's economy?

 

 

 


 

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