Code Ninjas vs Music Go Round
Compare franchise fees, investment range, royalties, SBA lending performance, unit growth, and Item 19 transparency with a permanent shareable URL.
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Code Ninjas
Education/Tutoring
Investment
$175K to $298K
Franchise fee
$40,000
Item 19 status
Revenue Only
Units
262
Music Go Round
Education/Tutoring
Investment
$335K to $444K
Franchise fee
$25,000
Item 19 status
Revenue Only
Units
37
Lower entry cost
Leans left
Based on minimum initial investment.
Better disclosed economics
Even
Uses Item 19 availability and transparency status.
Lower SBA default risk
Leans right
Treat low-loan brands carefully, sample size matters.
| Metric | Code Ninjas | Music Go Round |
|---|---|---|
Franchise Fee | $40,000 | $25,000 |
Min Investment | $175K | $335K |
Max Investment | $298K | $444K |
Royalty Rate | 8.0% | 4.0% |
Ad Fund Rate | 2.3% | 3.0% |
Total Ongoing Burden Royalty plus ad fund when available. | 10.3% | 7.0% |
Median Revenue (Item 19) | $221K | $1.4M |
Cash-on-Cash Return Estimated when revenue and margin assumptions are available. | 18.4% | 79.7% |
Payback Period | 5.4 yrs | 1.3 yrs |
Revenue per Dollar Invested | 0.93x | 3.47x |
Franchised Units | 262 | 37 |
1-Year Net Unit Change | -25 | -3 |
Net Unit Growth Rate | -8.8% | -8.1% |
Net Closure Rate Net closure proxy based on disclosed unit change. | 8.7% | 7.5% |
SBA Default Rate | 13.3% | 0.0% |
SBA Loan Count Use this to judge whether SBA default data is statistically meaningful. | 147 | 22 |
Average SBA Loan Size | $206K | $311K |
Item 19 Status | Revenue Only | Revenue Only |
Has Item 19 | ✓ Yes | ✓ Yes |
Data Quality Score | 100 | 100 |
What stands out
- • Code Ninjas opens at $175K to $298K, while Music Go Round ranges from $335K to $444K.
- • Code Ninjas shows an Item 19 disclosure; Music Go Round shows an Item 19 disclosure.
- • Code Ninjas has 262 franchised units versus 37 for Music Go Round.
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Last updated: April 2026