Leader in Math-Only Education Announces Next
Era of Development Under the Helm of Newly Appointed
CEO
LOS
ANGELES, July 31, 2024 /PRNewswire/ -- Mathnasium
Learning Centers, an internationally known franchise with over
1,100 math learning centers worldwide, announces impressive
mid-year growth for 2024.
- Since January, the company has signed 58 new franchise
agreements and opened 26 new centers across North America and internationally.
- In North America, the brand
saw a 63% year-over-year increase in opened centers,
with an additional 25 expected by year-end.
- Internationally, it saw a 66% increase, with
several more openings anticipated this year. Notably, the brand
announced its debut into Romania
with a Master Franchise Agreement for at least 25 centers over the
next six years.
"The enthusiasm generated by Mathnasium's updated Franchise
Disclosure Document (FDD), which highlights our strong growth and
improved unit economics, along with our continued commitment to
innovation, has been the key force behind the success of the first
half of this year," stated Kevin
Shen, Chief Development Officer of Mathnasium. "We are
excited about the positive momentum and look forward to leveraging
these strengths as we expand our reach."
The fast-growing brand has observed a substantial increase in
student enrollments due to the ongoing rise in supplemental
education, coinciding with a concerning drop in math scores since
the pandemic. With recently released data from the Northwest
Evaluation Association (NWEA) indicating that growth has slowed to
levels below pre-pandemic rates, achievement gaps are not only
widening but, in some cases, surpassing what was previously
considered the lowest point.
Amid the brand's accelerated growth, Mathnasium has appointed
Tyler Sgro, former Chief
Operating Officer, to Chief Executive Officer. His
appointment is expected to drive Mathnasium's focus on development,
innovation, and enhanced operational efficiencies, while doubling
down on the brand's commitment to building up students' lifelong
skills of problem-solving and processing.
"Having served as COO of Mathnasium for nearly two years, I've
already had the privilege to witness firsthand the profound impact
that our learning centers can have on students," said Sgro.
"As leaders in the field, we are committed to being part of the
solution and driving the academic recovery process for students
across the nation. I look forward to leading our team as we
continue to innovate and expand our reach, helping even more
children build confidence and fundamental skills for future
careers."
The achievements of the brand have not gone unnoticed. In the
first half of the year, Mathnasium earned numerous accolades,
including a ranking of #97 in the Entrepreneur Franchise 500,
#7 in Entrepreneur's Top Low-Cost Franchisees, inclusion in the
Franchise Business Review Top 200, a #84 ranking in Franchise
Direct's Top Global Franchises, and recognition in Franchise
Connect's Top 100 Education Franchises.
Looking ahead, growth plans include expansion into new markets,
with a development focus in key regions including Connecticut, Rhode
Island, Massachusetts,
Missouri, Kansas, Illinois, New
York, Pennsylvania,
Hawaii, and North Carolina, in addition to international
expansion.
"Our development plans are ambitious," added Sgro. "We're
focusing on expanding our presence in the U.S. with strategic
openings in key markets, and committed to developing master
franchisees globally. We remain dedicated to applying our expertise
and resources to support initiatives that empower students,
cultivate a love for learning, and close the educational gaps that
challenge our nation's advancement."
Mathnasium's proven business model and customized learning plans
have contributed to the brand's sustained success in the industry
as it continues to broaden its global reach. Looking ahead, as the
brand gears up for the busy back-to-school season, Mathnasium
continues to invest in its propriety technology stack to power
center operations and assist franchisees in reaching and supporting
more students.
Mathnasium Learning Centers specializes in math-only tutoring
and is committed to providing the world's best instruction. The
goal: teach children math in a way that makes sense to them. For
decades, the Mathnasium Method™ has transformed the way kids learn
math — building students' understanding of math concepts through
personalized instruction and a customized learning plan — all while
producing tremendous results and helping students achieve their
full potential — in math and in life.
Mathnasium provides franchisees with comprehensive support and
training, encompassing an initial training program, ongoing
education, a strategic blend of corporate and local marketing
initiatives to optimize market potential, and access to exclusive
software tools and resources. For information about Mathnasium's
franchise opportunities, visit —
https://mathnasiumfranchise.com/.
About Mathnasium
Mathnasium Learning Centers is
North America's leading math-only
supplemental education franchise. Since 2002, the Mathnasium
Method™ — the result of decades of hands-on instruction and
development — has been transforming the lives of children in grades
K-12 by offering comprehensive assessments, fully individualized
learning plans, and teaching true math comprehension. With more
than 1,100 learning centers worldwide in 11 countries, Mathnasium
has been ranked on Entrepreneur Magazine's list of top 500
franchises 18 times since 2004. For more information about
Mathnasium franchise opportunities, visit
https://mathnasiumfranchise.com/.
Media Contact: Maeve
Devitt, Fishman Public Relations, mdevitt@fishmanpr.com
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SOURCE Mathnasium