Franopolis
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    Franchise opportunities compared

    ICODE vs Stemtree

    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 FDDStemtree2026 FDD

    Initial investment · Item 7

    ICODE

    $331,000 – $481,500

    2026 FDD · Item 7 · PDF p. 21

    Stemtree

    $109,500 – $241,300

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    ICODE

    $35,000

    2026 FDD · Item 5 · PDF p. 12

    Stemtree

    $44,500

    2026 FDD · Item 5 · PDF p. 10

    Royalty · Item 6

    ICODE

    Greater of Minimum Royalty or 8% of Gross Sales

    2026 FDD · Item 6 · PDF p. 13

    Stemtree

    8%

    2026 FDD · Item 6 · PDF p. 11

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Stemtree discloses more than one business format, so the investment range spans formats; the full report breaks them out.
    • Item 19 figures cover the location groups each FDD names (ICODE: 2, Stemtree: 13). 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

    Stemtree

    $109,500 – $241,300
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    ICODE

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

    Stemtree

    $44,500
    2026 FDD · Item 5 · PDF p. 10
    Royalty (Item 6)

    ICODE

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

    Stemtree

    8%
    Royalty Fee
    2026 FDD · Item 6 · PDF p. 11
    Brand / advertising fund (Item 6)

    ICODE

    Not available
    No reviewed brand or advertising fund fee

    Stemtree

    2%
    Marketing and Brand Development Fund — 2%
    2026 FDD · Item 6 · PDF p. 12

    System scale & health

    Total outlets (Item 20)

    ICODE

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

    Stemtree

    17
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 37
    Net outlet change (Item 20)

    ICODE

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

    Stemtree

    +4
    Calculated: 13 at end of 2023 → 17 at end of 2025
    Outlet exits (Item 20)

    ICODE

    Not available
    No complete exit records for a year

    Stemtree

    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

    Stemtree

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

    ICODE

    2016
    2026 FDD · Item 1 · PDF p. 8

    Stemtree

    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
    Stemtree
    Locations counted not stated in the reviewed record — Systemwide earnings information (FPR #3)
    $249,243
    other Gross Revenue
    2026 FDD · Item 19 · PDF p. 35
    Locations counted not stated in the reviewed record — Franchised outlets in the Mid-High 25% performance quartile
    $252,003
    other Mid-High 25%
    2026 FDD · Item 19 · PDF p. 32
    Locations counted not stated in the reviewed record — Franchised outlets in the Top 25% performance quartile
    $334,764
    other Top 25%
    2026 FDD · Item 19 · PDF p. 33
    +10 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 Stemtree: common questions

    Which costs less to open, ICODE or Stemtree?
    ICODE: $331,000 – $481,500 (2026 FDD · Item 7 · PDF p. 21); Stemtree: $109,500 – $241,300 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Stemtree. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do ICODE and Stemtree royalties compare?
    ICODE: Greater of Minimum Royalty or 8% of Gross Sales (2026 FDD · Item 6 · PDF p. 13); Stemtree: 8% (2026 FDD · Item 6 · PDF p. 11). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, ICODE or Stemtree?
    ICODE: 61 (2026 FDD · Item 20 · PDF p. 50); Stemtree: 17 (2026 FDD · Item 20 · PDF p. 37). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do ICODE and Stemtree disclose financial performance (Item 19)?
    ICODE has reviewed Item 19 figures for 2 location groups; Stemtree has reviewed Item 19 figures for 13 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

    Full Stemtree report

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

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