Mathnasium Growth Surges Despite Economic Downturn

Tuesday, October 07, 2008

Franchised chain of math-only learning centers reports record number of new center openings

Mathnasium announced yesterday that it opened 20 new franchised locations in the US in the month of September -- the largest volume of new center openings in the company's history.

Growth at many franchising companies has been flattened. "We are among the fortunate few," says Dan Huntington, Vice President of Franchise Development at Mathnasium. "We seem to be uniquely positioned to not only weather the storm, but thrive in it." Huntington says there are several ways to explain his company's continued - and increasing - ability to attract new franchisees. He says during difficult economic times prospective franchisees grow more cautious. "Prospective franchisees pay more attention to the fundamentals, like the experience of the business team that is running the franchise, and the economic model of the franchised business. Our fundamentals have always been strong," says Huntington.

Huntington says that while math classes are not a necessity, they are one of the last areas to go when parents tighten their belts. He explains that in good times parents will spend on their children often before themselves. In bad times they will put their children first, but they want real value for their money. "Mathnasium Centers are resilient in a recession because math instruction is viewed as a critical investment in a child's future. Parents feel that if they don't make the investment, their child's future could really be compromised. And insecurity about the future is heightened during economic downturns." The company is also benefiting from high-level layoffs, according to Huntington. "We offer a chance to own a great business, but it's more that that: Mathnasium feels more like a real career than other franchises." Even highly experienced émigrés from corporate America don't want to make huge investments. "Starting a Mathnasium center requires an investment that's a fraction of many other franchises - even other learning centers. We offer a big business opportunity for a relatively small investment," he says. "And we've kept the investment even lower by keeping our initial franchise fee at half or less than the amount charged by some of our competitors. Now that times are tough, the market is rewarding us." About Mathnasium Learning Centers Mathnasium Learning Centers offer math-only year-round educational programs in an attractive and supportive setting for children to develop critical math skills and understanding, and build confidence in their abilities. Developed over 30 years of hands-on experience with thousands of children, the Mathnasium educational method is designed for children of all ages and skill levels. Mathnasium offers an environment in which children develop the mathematics understanding they will need to succeed in the information age. Mathnasium is headquartered in 5120 W. Goldleaf Circle, Suite 130, Los Angeles, CA 90056. Mathnasium can be reached at (323) 421-8000, [email protected], and www.mathnasium.com.

Contact Andre Johnson (323) 421-8012 [email protected]

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Mathnasium Learning Centers
5120 W. Goldleaf Cir., #300
Los Angeles, CA

Phone: (323) 421-8000
Toll Free: (877)531-6284
Fax: (310)943-2111

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