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, [email protected]
SOURCE Mathnasium
