Education Franchise Reduces Bank Fees by 88%
Challenge
Mathnasium operates a blended model of corporate-owned locations and a large network of franchisees. While the brand was growing, indirect financial costs were eroding margins:
- Bank fees were significantly higher than necessary.
- P ayroll processing and other financial services lacked optimized pricing.
Approach
Mathnasium engaged SIB to review key indirect expenses and identify savings opportunities that could be implemented quickly and with minimal operational friction. SIBs team:
- Analyzed vendor spend across payroll, bank fees, and telecom (SaaS, cloud, phone/internet).
- Applied benchmarking and line-item reviews to identify where pricing was out of market.
- Negotiated directly with existing providers, securing new target rates with the current bank and payroll vendor so Mathnasium could keep its relationships intact while dramatically improving economics.
Results
fee reduction
- 18% payroll cost reduction
- 3 year fee lock
- 18% payroll cost reduction
- $21,161 savings
CFO Takeaway
Partnering with SIB delivered significant fee reductions without any vendor or bank change. Finance leadership gained:
- Lower, locked-in costs across essential financial services
- Improved visibility into cash and expense performance
- Enhanced interest earnings and smarter liquidity management
- Streamlined fragmented interest-bearing accounts, standardizing a higher, competitive rate across all holdings to boost client returns amidst decreasing market rates.
The savings were projected to increase EBITDA, strengthening financial performance and freeing leadership to focus on growth and the mission of helping students succeed in math.
Summary
Education Math Learning Centers
Franchise Brand with 4 Corporate Centers and 1,200+ Franchise Locations
Rising bank and payroll fees across decentralized operations
SIB analyzed payroll and bank fees, securing lower rates with existing providers
88% reduction in bank fees · 18% savings in payroll costs · 3-year fee lock
Where traditional audits end, SpendBrain begins
SpendBrain™, SIB’s AI-powered financial intelligence platform, continuously analyzes expense categories, including property tax, utilities, and vendor payments.
By layering this technology over SIB’s hands-on expertise, our clients gain a permanent safeguard against overspend, plus predictive visibility into future cost risk.
What this means for CFOs:
- Automated monitoring flags anomalies and valuation shifts in real time
- Predictive insights help finance leaders budget and forecast more accurately
- Portfolio-level intelligence connects tax savings to broader spend optimization strategies
General Inquiries: (843) 284-1007
Sales: (843) 576-3606
