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    Franchise opportunities compared

    Code Ninjas vs ICODE

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    Code Ninjas2025 FDDICODE2026 FDD

    Initial investment · Item 7

    Code Ninjas

    $174,750 – $298,250

    2025 FDD · Item 7 · PDF p. 23

    ICODE

    $331,000 – $481,500

    2026 FDD · Item 7 · PDF p. 21

    Initial franchise fee · Item 5

    Code Ninjas

    Not available

    ICODE

    $35,000

    2026 FDD · Item 5 · PDF p. 12

    Royalty · Item 6

    Code Ninjas

    $500

    2025 FDD · Item 6 · PDF p. 15

    ICODE

    Greater of Minimum Royalty or 8% of Gross Sales

    2026 FDD · Item 6 · PDF p. 13

    Before you compare

    • Code Ninjas figures come from its 2025 FDD and ICODE figures from its 2026 FDD, so the years differ.
    • Item 19 figures cover the location groups each FDD names (Code Ninjas: 2, ICODE: 2). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    Code Ninjas

    $174,750 – $298,250
    Learning Center estimated initial investment: $174,750 to $298,250
    2025 FDD · Item 7 · PDF p. 23

    ICODE

    $331,000 – $481,500
    Area Development Agreement Total
    2026 FDD · Item 7 · PDF p. 21
    Standard initial franchise fee (Item 5)

    Code Ninjas

    Not available
    No single standard fee identified

    ICODE

    $35,000
    2026 FDD · Item 5 · PDF p. 12
    Royalty (Item 6)

    Code Ninjas

    $500
    Pre-opening minimum royalty after opening deadline: $500 per month until opening
    2025 FDD · Item 6 · PDF p. 15

    ICODE

    Greater of Minimum Royalty or 8% of Gross Sales
    Royalty – iCode School Program
    2026 FDD · Item 6 · PDF p. 13
    Brand / advertising fund (Item 6)

    Code Ninjas

    2.25%
    Marketing Contribution: 2.25% of Net Sales — 2.25%
    2025 FDD · Item 6 · PDF p. 15

    ICODE

    Not available
    No reviewed brand or advertising fund fee

    System scale & health

    Total outlets (Item 20)

    Code Ninjas

    244
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 58

    ICODE

    61
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 50
    Net outlet change (Item 20)

    Code Ninjas

    −45
    Calculated: 289 at end of 2022 → 244 at end of 2024

    ICODE

    +15
    Calculated: 46 at end of 2023 → 61 at end of 2025
    Outlet exits (Item 20)

    Code Ninjas

    Not available
    No complete exit records for a year

    ICODE

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    Code Ninjas

    Not available
    Not in reviewed records

    ICODE

    2016 for iCode School; 2021 for iCode Reach
    2026 FDD · Item 1 · PDF p. 8
    Franchisor founded (Item 1)

    Code Ninjas

    Not available
    Not in reviewed records

    ICODE

    2016
    2026 FDD · Item 1 · PDF p. 8

    Financial performance (Item 19), by location group

    Code Ninjas
    Locations counted not stated in the reviewed record — Code Ninjas franchised Learning Centers for calendar year 2024
    $241,242
    other Learning Center Overall average annual gross sales: $241,242
    2025 FDD · Item 19 · PDF p. 56
    Locations counted not stated in the reviewed record — Code Ninjas franchised Studio Centers for calendar year 2024
    $187,848
    other Studio Center Overall average annual gross sales: $187,848
    2025 FDD · Item 19 · PDF p. 56
    ICODE
    Franchised (37 locations) — revenue
    $144,158
    mean Gross Sales
    2026 FDD · Item 19 · PDF p. 49
    Locations counted not stated in the reviewed record
    $65,414
    other Gross Sales
    2026 FDD · Item 19 · PDF p. 49

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    Code Ninjas vs ICODE: common questions

    Which costs less to open, Code Ninjas or ICODE?
    Code Ninjas: $174,750 – $298,250 (2025 FDD · Item 7 · PDF p. 23); ICODE: $331,000 – $481,500 (2026 FDD · Item 7 · PDF p. 21). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Code Ninjas. Estimates are not quotes, and the FDD years may differ.
    How do Code Ninjas and ICODE royalties compare?
    Code Ninjas: $500 (2025 FDD · Item 6 · PDF p. 15); ICODE: Greater of Minimum Royalty or 8% of Gross Sales (2026 FDD · Item 6 · PDF p. 13). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, Code Ninjas or ICODE?
    Code Ninjas: 244 (2025 FDD · Item 20 · PDF p. 58); ICODE: 61 (2026 FDD · Item 20 · PDF p. 50). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Code Ninjas and ICODE disclose financial performance (Item 19)?
    Code Ninjas has reviewed Item 19 figures for 2 location groups; ICODE has reviewed Item 19 figures for 2 location groups. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

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    Full Code Ninjas report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full ICODE report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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    Plain-language meaning of each Item