The Place was Created Following Roark Capital Group’s Acquisition of the Math Tutoring Franchise
Mathnasium, a number one math tutoring franchise, introduced Kevin Shen as chief improvement officer (CDO). With this place, Shen oversees the mathematics tutoring franchise’s improvement and implements progress methods. He brings greater than a decade of funding banking and franchising expertise to the function. Following Roark Capital Group’s acquisition of the enterprise, the CDO place was created to cowl the scope of Mathnasium’s initiatives.
“Being immersed within the franchising and funding banking world, I had all the time admired non-public equity-backed manufacturers and have a ton of respect for Mathnasium CEO Michael Davis and his in depth expertise working with top-notch firms. As I met extra of the management staff and franchisees, it grew to become clear why that is the proper time to affix Mathnasium with its countless business tailwinds,” Shen mentioned in a press release.
He added that “it’s also really easy to get behind the mission of adjusting lives by means of math. Our respected world model and the eagerness behind our franchisees is so genuine, it can’t be replicated.”
To Davis, Shen’s expertise and alignment with Mathnasium’s mission and values make him an ideal match for the place. “Our franchisees are seeing record-breaking enrollments as households search extra native sources to assist their youngsters enhance grades in math and attain new ranges of understanding. Each new heart ensures Mathnasium’s mission will get to extra pupil’s, households, and communities,” Davis mentioned.
Shen started his funding banking profession with client and retail companies, lots of which have been franchisors. “I noticed very early on that the market cherished franchise offers – the money flows have been very predictable, they usually usually had way more enticing economics and progress tales in comparison with different industries.” Previous to becoming a member of Mathnasium, he held a management function with Jackson Hewitt.
Shen believes that his non-traditional improvement background might be massively useful for this function. “It permits me to strategy varied questions and issues from a distinct lens than the remainder of the staff. With a larger variety of opinions and thought processes, we regularly yield new options that the group hasn’t thought-about earlier than. The eye to element and sense of urgency instilled throughout my funding banking years additionally helps me be a greater companion to potential franchise house owners as they’re going by means of their diligence course of.”
After transitioning to the franchisor facet, Shen labored in varied capacities together with franchise improvement for a big franchisor. “It has all the time been extraordinarily rewarding to see of us from all walks of life be a part of a system, be taught the enterprise, and take management of their very own future.”
Shen believes that prospects ought to do analysis and converse to individuals at present within the system to validate what they’re studying and listening to. “We’re all the time tremendous comfortable to talk to potential franchisees who ask thorough questions as which means they’re attempting to make a well-informed choice.”
A Mission-Oriented Dad or mum
Along with being an skilled businessman, Shen is a mother or father who’s enthusiastic about his son’s training. “The most recent headlines about COVID-related learning losses and math testing hitting a 20-year low scare me to no finish. As I dug into Mathnasium and noticed the common sense strategy to educating youngsters math, the incredible Web Promoter Scores from glad youngsters and fogeys, and powerful unit economics within the FDD, it was a no brainer for me. I begin work daily extraordinarily excited to share the Mathnasium story with potential franchise house owners!”
Rising up, Shen had a love/hate relationship with math. “All of it got here simply to me by means of elementary faculty. However as soon as I hit center faculty, it was like a brick wall. I truthfully want my dad and mom had put me right into a program like Mathnasium; it will have saved us a lot of frustration!”
Shen sought assist from academics and tried completely different tutors, however nothing actually caught; it was like a overseas language to him. “Mathnasium’s strategy is admittedly centered round utilizing a language that is smart to youngsters and a give attention to conserving issues enjoyable. Nobody is shipped house with homework or issues set to work on. All of that basically interprets within the metrics and testimonials that you simply’ll see in the event you try our heart’s critiques.”
Shen has a bachelor of arts diploma in economics from Northwestern College and a grasp of enterprise administration from The Wharton Faculty.