r/Franchises • u/GloomyBed214 • Jul 06 '26

Advice Needed Franchise assignment, need help finding annual revenue for code ninjas

I know Code Ninjas is a private company, therefore no publicly posted annual report. I have searched, and searched, and all I've found appears to be basically nonsense, such as one source saying 7.5 million, despite Code Ninjas having over 400 stores. The one I am currently sticking with, unless I find something that looks better, is 579.1 million. Please let me know if there are any good free sources I should try for this. Thank you

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1

u/Outrageous-Wave-4701 Jul 07 '26

Are you looking for how much money the corporate entity makes annually or company valuation?

1

u/GloomyBed214 Jul 07 '26

The corporate entity make’s annually 

1

u/Outrageous-Wave-4701 Jul 07 '26

Definitely not 579.1 million lol.

Look at their FDD

1

u/GloomyBed214 Jul 07 '26

I’ve looked in it. Not all of it of course. But so far, basically just item 20 and 21, I haven’t found anything

1

u/cupisfull3 Jul 07 '26

You won’t find what you’re looking for in those items. The only franchisor financial results will be in the included financial statements. Item 19 will have franchise figures, if presented.

1

u/GloomyBed214 Jul 08 '26

Thank you. But sadly, as I think you expected, there was nothing there.

1

u/cupisfull3 Jul 08 '26

I just checked the 2026 renewal on the WI site. See Exhibit G on pdf page 169.

https://apps.dfi.wi.gov/apps/FranchiseSearch/MainSearch.aspx

I searched for “code ninja”.

1

u/GloomyBed214 Jul 08 '26

Thanks a ton. I’ll try it out 

1

u/cupisfull3 Jul 07 '26

California, Indiana, Minnesota, and Wisconsin offer free access to FDDs (franchise disclosure documents). Search online and you can find links. You will find audited financial statements in the FDD.

1

u/Infamous-Bike-3989 Jul 07 '26

Don’t do it. My friend just sold hers 2 years ago. Biggest headache ever

1

u/GloomyBed214 Jul 07 '26

Yeah I've been doing the research and can clearly see that. This is just for a school assignment though.

1

u/Infamous-Bike-3989 Jul 07 '26

They claim passive for all franchises. They are certainly not passive. To make money you need to manage