Why STEM Franchises are Poised for Growth

STEM education was a growing priority before the pandemic, and that trend only accelerated as more parents sought out resources to supplement their children’s education during quarantine. One of the most popular STEM education areas is computer programing, with coding camps leading the way. Here’s why we believe computer coding and STEM franchises will make a great investment. 

According to Business Wire, the global coding bootcamp market size is projected to grow by US$453.59 million between 2020-2024, with a CAGR of 15%. A market analysis by Hackerearth also found that in code camp attendance at the 105 camps it surveyed increased by 4.38% annually in 2019 and 2020, reaching 45,500, while tuition revenue increasing to $460,733,000 in 2019, a 4.81% increase from 2018.  

There’s a reason parents are focusing on giving their children coding experience: programming is an industry in demand. The U.S. Bureau of Labor Statistics found employment in computer and information technology occupations is projected to grow 11 percent from 2019 to 2029, generating roughly 531,200 new jobs at a much higher rate than the typical occupation sector. All that demand means programming skills will be at a premium. According to global organizational consulting firm Korn Ferry, by 2020, the industry could be short more than 1.1 million skilled workers internationally and increase to 4.3 million by 2030 as the tech industry continues to evolve and innovate in areas such as cloud computing, big data, and information security. 

Below are two computer education franchises we believe are poised to capitalize on the market’s growth: 

iCode 

Originally founded in 2015 in Frisco, Texas, iCode started franchising in 2017 and has expanded to 15 locations with plans to expand to 60 new locations in the next 12 months. iCode provides computer science and STEM-based education for grades K-12, and also offers summer coding camps and gaming leagues as additional revenue streams. iCode was recognized for its growth in 2021, ranking #465 on Entrepreneur’s Franchise 500 list. Startup costs for an iCode franchise begin at $175,000. To learn more about a franchise opportunity with iCode, click here. 

Code Ninjas LLC 

Code Ninjas was founded in 2016 in Pearland, Texas, by software developer David Graham. After seeing the high job placement success rates of his adult coding camp participants, David opened Code Ninjas to focus on teaching code to kids aged 7-14.  

The franchise offers a wide variety of activities that blend fun and education, such as after-school programs, camps, and parents-night-out events. Code Ninjas began franchising in 2017, and has seen incredible growth carry it to 257 locations in 2020. Code Ninjas ranked #305 on Entrepreneur’s Franchise 500 in 2021. Startup costs for a Code Ninjas franchise begin at $31,000. To learn more about a franchise opportunity with Code Ninjas LLC, click here.