[ad_1]
Mo Khalil, multi-unit franchisee of Mathnasium Learning Centers, has entered into a strategic investment agreement with Snapdragon Capital Partners to open 25 new locations over the next five years.
Almost single-handedly, Mo Khalil has expanded the Mathnasium Learning Center portfolio to 55 locations in six states. Now with Snapdragon Capital Partners under his belt, his Mathnasium’s most profitable franchisee sees no reason why it can’t add another 100 units over the next five years.
Regarding his company, Khalil Ventures, Mr. Khalil said, “We are targeting 20 new locations per year through acquisitions and new locations, and we would like to reach 150 Mathnasiums if possible.” “Snapdragon’s injection of capital into our balance sheet will enable us to grow and scale faster.”
Financial details of Snapdragon’s investment in Khalil Ventures were not disclosed. Snapdragon plans to open 25 Mathnasiums by 2029, but Mark Grabowski, Snapdragon’s managing partner, and Khalil both said the growth potential goes far beyond that number.
Snapdragon’s investment marks the private equity firm’s first foray into the education sector. Last year, the company invested $30 million in Spartan Fitness Holdings, which operates 60 club Pilates studios.
Since Grabowski founded Snapdragon in 2018, the company has invested in Xponential Fitness, Corepower Yoga, and First Watch Restaurant Group.
Mark Grabowski, Founder and Managing Partner, Snapdragon Capital Partners
“We are focused on the growing interest in health and wellness, and we have spent a lot of time in the last year looking at child enrichment programs, which we believe have similar long-term tailwinds,” Grabowski said. he said. “We felt that Mathnasium was a brand that had staying power and had strength and connection with consumers. It scored highly on all of these qualities.”
With more than 1,100 locations worldwide and $322 million in systemwide sales, Mathnasium is ranked #190 on the Franchise Times Top 400, an annual ranking of the largest U.S.-based franchise brands. It has been.
Related: Roark buys 1,000 units of Matnasium, more bold deals
Meanwhile, Khalil built a multi-unit Mathnasium empire primarily with his own money and support from a few outside investors. We opened our first store in Orlando, Florida in 2011 and have opened four to six stores a year ever since. He said 6,500 students are enrolled in 55 centers in Texas, Florida, New York, New Jersey and the Midwest.
Khalil has acquired six Mathnasiums this year, but says most of his growth has come from acquisitions.
According to Mathnasium, Khalil Ventures’ annual revenue reached $22 million last year.
According to Item 19 of the Franchise Disclosure Document, Mathnasium’s top 50 percent average unit sales price is $380,553, and initial store opening costs range from $112,860 to $149,155.
Khalil said the company is targeting growth in New York and New Jersey in addition to its existing core markets.
“Mathnasium is a great brand and I’m so excited to work and grow with them,” said Khalil, an Egyptian immigrant who came to the U.S. at age 11 without knowing any English. .
Mr. Khalil said that before becoming a franchisee, he sold office technology to Canon and then owned a Verizon Wireless store in Florida. But he got tired of it and looked for a way to work for himself. He said he was considering purchasing his gym concept for kids before coming across his review report about Mathnasium franchising his business.
“Mathnasium receives very positive reviews from franchisees regarding training and corporate support, which caught my attention,” said Khalil. “I also grew up loving math. When I first came to America, it was the only class I understood and did well.”
Mr. Grabowski said that after evaluating Mathnasium franchisees, it was clear that Mr. Khalil was a good fit for his company.
“What was particularly noteworthy to us was Mr. Mo’s accomplishments and the infrastructure he built for the company,” Grabowski said. “He has a call center that most franchisees don’t have. That and the fact that his base is part of the top performing unit in the entire Mathnasium system, he has a call center that most franchisees don’t have. They have been a great partner to work with.”
[ad_2]
Source link
