Question 1

Is Code Ninjas or Mathnasium Learning Centers cheaper to open?

Accepted Answer

Code Ninjas costs $174,250–$265,750 and Mathnasium Learning Centers costs $127,316–$165,846 to open (FDD Item 7). Mathnasium Learning Centers has the lower entry cost.

Question 2

Which earns more, Code Ninjas or Mathnasium Learning Centers?

Accepted Answer

Code Ninjas reports $236,884 average annual unit revenue vs $344,816 for Mathnasium Learning Centers (FDD Item 19). Mathnasium Learning Centers is higher.

Question 3

Which is safer, Code Ninjas or Mathnasium Learning Centers?

Accepted Answer

SBA 7(a) charge-off rate is 15.6% for Code Ninjas and 2.6% for Mathnasium Learning Centers. Lower is safer, so Mathnasium Learning Centers has the stronger loan-repayment record.

Question 4

Which is the better franchise, Code Ninjas or Mathnasium Learning Centers?

Accepted Answer

FranchiseVerdict grades Code Ninjas C and Mathnasium Learning Centers A, from FDD Items 5–7, 19–21 and SBA loan performance. See the full side-by-side above.

Metric	Code Ninjas	Mathnasium Learning Centers
Verdict Grade	CAverageAverage	AStrongest tierStrongest tier
Investment Range	$174K – $266K	$127K – $166K
Franchise Fee	$35K	$49K
Royalty Rate	8.3%	N/A
Average Revenue (Item 19)	$237K	$345K
SBA Charge-Off Rate	15.6% (147 loans)	2.6% (85 loans)
Total Units	245	1,047
Unit Growth (YoY)	N/A	N/A
Year Began Franchising	2016	2003
FDD Year	2026	2026

Code Ninjas vs Mathnasium Learning Centers