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    Franchise opportunities compared

    ICODE vs MN Filing 35435-202602-04

    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.

    ICODE2026 FDDMFMN Filing 35435-202602-042026 FDD

    Initial investment · Item 7

    ICODE

    $331,000 – $481,500

    2026 FDD · Item 7 · PDF p. 21

    MN Filing 35435-202602-04

    $425,750

    2026 FDD · Item 7 · PDF p. 24

    Initial franchise fee · Item 5

    ICODE

    $35,000

    2026 FDD · Item 5 · PDF p. 12

    MN Filing 35435-202602-04

    $49,500

    2026 FDD · Item 5 · PDF p. 11

    Royalty · Item 6

    ICODE

    Greater of Minimum Royalty or 8% of Gross Sales

    2026 FDD · Item 6 · PDF p. 13

    MN Filing 35435-202602-04

    $8.00

    2026 FDD · Item 6 · PDF p. 13

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Item 19 figures cover the location groups each FDD names (ICODE: 2, MN Filing 35435-202602-04: 9). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    ICODE

    $331,000 – $481,500
    Area Development Agreement Total
    2026 FDD · Item 7 · PDF p. 21

    MN Filing 35435-202602-04

    $425,750
    Total estimated initial investment single Kitchen
    2026 FDD · Item 7 · PDF p. 24
    Standard initial franchise fee (Item 5)

    ICODE

    $35,000
    2026 FDD · Item 5 · PDF p. 12

    MN Filing 35435-202602-04

    $49,500
    2026 FDD · Item 5 · PDF p. 11
    Royalty (Item 6)

    ICODE

    Greater of Minimum Royalty or 8% of Gross Sales
    Royalty – iCode School Program
    2026 FDD · Item 6 · PDF p. 13

    MN Filing 35435-202602-04

    $8.00
    Royalty Fee
    2026 FDD · Item 6 · PDF p. 13
    Brand / advertising fund (Item 6)

    ICODE

    Not available
    No reviewed brand or advertising fund fee

    MN Filing 35435-202602-04

    $2.00
    Brand Development Fund maximum
    2026 FDD · Item 6 · PDF p. 14

    System scale & health

    Total outlets (Item 20)

    ICODE

    61
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 50

    MN Filing 35435-202602-04

    14
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 68
    Net outlet change (Item 20)

    ICODE

    +15
    Calculated: 46 at end of 2023 → 61 at end of 2025

    MN Filing 35435-202602-04

    +2
    Calculated: 12 at end of 2023 → 14 at end of 2025
    Outlet exits (Item 20)

    ICODE

    Not available
    No complete exit records for a year

    MN Filing 35435-202602-04

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

    ICODE

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

    MN Filing 35435-202602-04

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    ICODE

    2016
    2026 FDD · Item 1 · PDF p. 8

    MN Filing 35435-202602-04

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    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
    MFMN Filing 35435-202602-04
    Locations counted not stated in the reviewed record — Top quartile of the Qualifying Outlets: franchised locations meeting the disclo…
    $977,379
    other Top quartile low gross revenue
    2026 FDD · Item 19 · PDF p. 63
    Locations counted not stated in the reviewed record — Franchise locations that opened during calendar year 2025 and reported pre-open…
    $31,146
    other 2025 pre-opening gross revenue high
    2026 FDD · Item 19 · PDF p. 65
    Locations counted not stated in the reviewed record — All nine Qualifying Outlets: franchised locations meeting the disclosed territo…
    $172,156
    other 2025 qualifying outlet net operating income average
    2026 FDD · Item 19 · PDF p. 64
    +6 more groups in the full report

    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.

    ICODE vs MN Filing 35435-202602-04: common questions

    Which costs less to open, ICODE or MN Filing 35435-202602-04?
    ICODE: $331,000 – $481,500 (2026 FDD · Item 7 · PDF p. 21); MN Filing 35435-202602-04: $425,750 (2026 FDD · Item 7 · PDF p. 24). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for ICODE. Estimates are not quotes, and the FDD years may differ.
    How do ICODE and MN Filing 35435-202602-04 royalties compare?
    ICODE: Greater of Minimum Royalty or 8% of Gross Sales (2026 FDD · Item 6 · PDF p. 13); MN Filing 35435-202602-04: $8.00 (2026 FDD · Item 6 · PDF p. 13). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, ICODE or MN Filing 35435-202602-04?
    ICODE: 61 (2026 FDD · Item 20 · PDF p. 50); MN Filing 35435-202602-04: 14 (2026 FDD · Item 20 · PDF p. 68). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do ICODE and MN Filing 35435-202602-04 disclose financial performance (Item 19)?
    ICODE has reviewed Item 19 figures for 2 location groups; MN Filing 35435-202602-04 has reviewed Item 19 figures for 9 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 ICODE report

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

    MF

    Full MN Filing 35435-202602-04 report

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

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    FDD glossary

    Plain-language meaning of each Item