Franchises · 2026 FDD · Wisconsin DFI filing 640839
Code Ninjas franchise cost, unit revenue and closures
Opening a Code Ninjas cost $174,250 to $265,750 in the 2026 FDD; the median unit sold $216,122 in the franchisor's 2025 calendar year figures; 30.6% of franchised units closed over three years.
Franchisor: Code Ninjas LLC. FDD issued 2026-04-03, amended 2026-10-15. Fiscal year end 2025-12-31. Figures re-found on the cited page 2026-11-03.
What a unit costs to open
single Learning Center; a Studio Center is $73,500 to $109,250 (page 18) and three Learning Centers under a Development Agreement $224,250 to $315,750 (page 19).
What a unit pays the franchisor
| Initial franchise fee | $45,000 | Item 5, p. 6 |
|---|---|---|
| Royalty | Learning Center Royalty Fee 8.25% of Net Sales, at the time of each transaction (Studio Center 12.25%) | Item 6, p. 7 |
| Advertising fund | Brand Marketing 2.0% of Net Sales; plus an in-house advertising agency fee currently $350 per month | Item 6, p. 7 |
Learning Center; fees actually collected in 2025 ranged from $20,000 to $40,000; 10% veteran discount.
What a unit sells
Item 19 is optional and is the franchisor's own representation. It is shown here as filed, with the franchisor's measure, sample and period, and nothing is estimated where it is missing.
| Measure | annual gross sales, franchised Learning Centers, calendar 2025 (Table 1, Center Overall row) | |
|---|---|---|
| Sample | 218 units: 218 franchised Learning Centers open at the start of 2025 and all year; excludes 13 centers opened in 2025, 13 that closed during 2025 and one temporarily closed. Six Studio Centers are shown separately (average $209,647); the All Overall row for 224 locations is $235,927 average, $215,939 median | |
| Period | 2025 calendar year | |
| High / low | $730,612 / $43,091 | |
Revenue to investment
Formula: Item 19 Center Overall median / Item 7 Learning Center total (midpoint, low, high). A ratio of 1.00 means one year of median unit revenue equals the investment; it says nothing about profit.
How many units open and close
| Franchised units | 2023 | 2024 | 2025 |
|---|---|---|---|
| Start of year | 284 | 262 | 239 |
| Opened | 14 | 18 | 14 |
| Terminated | 5 | 8 | 2 |
| Not renewed | 7 | 20 | 8 |
| Reacquired by franchisor | 3 | 0 | 2 |
| Ceased, other reasons | 21 | 13 | 3 |
| End of year | 262 | 239 | 238 |
| Company-owned, end of year | 7 | 5 | 7 |
Item 20, Table 1 p. 53; Table 3 totals p. 58.
Closures are the franchisor's Item 20 counts of units terminated, not renewed, or ceased for other reasons, summed over 2023–2025 and divided by franchised units at the start of 2023. Units the franchisor reacquired are not closures. This is an Item 20 count, not a failure rate.
Source and method
Every figure above comes from the Code Ninjas Franchise Disclosure Document issued 2026-04-03 and amended 2026-10-15, as filed with the Wisconsin Department of Financial Institutions (filing 640839, registry record). The PDF is the franchisor's and is not hosted here; the item and page beside each figure is where to check it. Item 7 and Item 20 tables were read cell by cell; Item 19 was read by hand; each Item 20 year was checked to sum (start + opened − exits = end) before it was recorded.
Informational only, not professional, legal or investment advice. Unitnomics computes from the filing and does not advise on, rank, or refer to any franchise. Last reviewed: November 2026.