Blame for all_profiles.md

# A Better Solution In Home Care

- Brand slug: a-better-solution-in-home-care
- Legal name: ABS Franchise Services, Inc.
- Industry: Senior Care
- FDD year: 2026 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/a-better-solution-in-home-care/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 55,000

- initial_fee_high_usd: 55,000
- royalty_pct: 5

- royalty_min_monthly_usd: 1,000
- marketing_fee_pct: 1
- marketing_min_monthly_usd: 250

- tech_fee_monthly_usd: 399
- total_investment_low_usd: 126,890

- total_investment_high_usd: 235,350
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Base $55k uniformly imposed. Discounts available: $2,500 Franchise Expo, $10,000 senior-level employee, $5,000 qualified veteran; territorial: $30,000 for second territory, $20,000 for third and subsequent. Optional Licensing Assistance Fee $3,500; Optional Enhanced Support Services Fee $4,500. System Technology Fee $299 per month. SwyftOps software is required; its monthly fee, paid directly to SwyftOps and based on scheduled hours or active clients, currently averages about $100 to $700+ per month. Local advertising: you must spend the greater of 2% of Gross Revenues or $1,000 per month, in addition to the National Marketing Fee. The franchisor may direct up to 4% of Gross Revenues to a Local Marketing Cooperative.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 30

- franchised_outlets: 28
- company_outlets: 2

- states_count: 14
- closure_rate_pct: 8.9
- closures: 7
- closures_not_itemized: 0
- reacquired: 1
- franchised_outlet_years: 79
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: 11.1

- growth_outlets_from: 27

- growth_outlets_to: 30

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 6
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 595,052
- basis: median, 23 (out of 28) franchisee-owned Agencies open 12 full calendar months as of December 31, 2025 (23 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| 2025 Gross Revenue | 23 (out of 28) franchisee-owned Agencies open 12 full calendar months as of December 31, 2025 | 23 | 810,813.82 | 595,052 | 186,936.84 | 2,260,332.03 | Fiscal Year 2025 | 41 |
| Combined Gross Sales (Affiliate Agency Financial Results-2025) | 2 affiliate-owned Agencies (San Diego, CA and Phoenix, AZ), combined | 2 | 6,505,832 | not disclosed | not disclosed | not disclosed | Fiscal Year 2025 | 41 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 27 | 2 | 4 | 0 | 1 | 0 | 1 | 25 |
| 2024 | 25 | 3 | 1 | 0 | 0 | 0 | 1 | 27 |
| 2025 | 27 | 3 | 1 | 0 | 0 | 1 | 0 | 28 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 595,052

- investment_midpoint_usd: 181,120

- revenue_to_investment: 3.29

- royalty_pct: 5
- revenue_per_royalty_point_usd: 119,010

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 126,890 | 52 | 68 | 102,827 | lowest first | Senior Care |

| fee_low | 55,000 | 53 | 68 | 49,500 | lowest first | Senior Care |
| royalty | 5 | 4 | 65 | 5 | lowest first | Senior Care |
| allin | 6 | 6 | 65 | 7 | lowest first | Senior Care |
| outlets | 30 | 32 | 68 | 25.5 | highest first | Senior Care |
| growth | 11.1 | 20 | 32 | 16.9 | highest first | Senior Care |
| closure | 8.9 | 28 | 32 | 3.95 | lowest first | Senior Care |

## Similar alternatives (closest first)
1. Mastercare (same industry; investment from $125,800)
2. 1Heart Caregiver Services (same industry; investment from $125,650)
3. Visiting Angels (same industry; investment from $125,460)
4. Elder-Well (same industry; investment from $130,900)
5. Amada Senior Care (same industry; investment from $121,577)
6. Avendelle Assisted Living (same industry; investment from $121,525)
7. Home Helpers Home Care (same industry; investment from $120,750)
8. 2nd Family (same industry; investment from $119,825)
9. Comfort Keepers (same industry; investment from $119,560)
10. Nurse Next Door (same industry; investment from $119,115)


---

# Applebee's Neighborhood Grill & Bar

- Brand slug: applebee-s-neighborhood-grill-bar
- Legal name: APPLEBEE'S FRANCHISOR LLC
- Industry: Food Quick Service
- FDD year: 2026 (NASAA EFD)
- Source: https://www.nasaaefd.org/Franchise/Search
- FranchiseDepth page: https://franchisedepth.com/franchise/applebee-s-neighborhood-grill-bar/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 35,000

- initial_fee_high_usd: 50,000
- royalty_pct: 4

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 4.25
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: not disclosed
- total_investment_low_usd: 3,192,516

- total_investment_high_usd: 5,076,178
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Celebration prototype (current new-build design; none open yet): $3,192,516–$5,076,178, excluding real estate. The discontinued Tower II prototype costs $3,870,004–$5,822,933. A Dual Branded Restaurant (combined IHOP and Applebee's cost, by conversion or ground-up construction) costs $616,682–$4,632,445.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 1,475

- franchised_outlets: 1,416
- company_outlets: 59

- states_count: 49
- closure_rate_pct: 2.5
- closures: 113
- closures_not_itemized: 0
- reacquired: 59
- franchised_outlet_years: 4586
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: -4.3

- growth_outlets_from: 1,542

- growth_outlets_to: 1,475

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 8.25
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 2,822,904
- basis: median, Traditional Franchised Restaurants - All Regions (1,351 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Annualized Average Gross Sales | Traditional Franchised Restaurants - Midwest Region | 403 | 2,662,918 | 2,545,951 | 1,053,693 | 5,011,435 | 12 months, December 30, 2024 to December 28, 2025 | 53 |
| Annualized Average Gross Sales | Traditional Franchised Restaurants - Northeast Region | 279 | 3,830,089 | 3,609,473 | 1,994,980 | 10,150,710 | 12 months, December 30, 2024 to December 28, 2025 | 53 |
| Annualized Average Gross Sales | Traditional Franchised Restaurants - South Region | 419 | 2,450,367 | 2,361,192 | 1,086,609 | 5,036,244 | 12 months, December 30, 2024 to December 28, 2025 | 53 |
| Annualized Average Gross Sales | Traditional Franchised Restaurants - West Region | 250 | 3,292,418 | 3,224,283 | 1,733,894 | 5,754,375 | 12 months, December 30, 2024 to December 28, 2025 | 53 |
| Annualized Average Gross Sales | Traditional Franchised Restaurants - All Regions | 1,351 | 2,954,522 | 2,822,904 | 1,053,693 | 10,150,710 | 12 months, December 30, 2024 to December 28, 2025 | 53 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 1,575 | 4 | 2 | 3 | 0 | 32 | not disclosed | 1,542 |
| 2024 | 1,542 | 0 | 0 | 6 | 47 | 29 | not disclosed | 1,460 |
| 2025 | 1,460 | 9 | 0 | 8 | 12 | 33 | not disclosed | 1,416 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 2,822,904

- investment_midpoint_usd: 4,134,347

- revenue_to_investment: 0.68

- royalty_pct: 4
- revenue_per_royalty_point_usd: 705,726

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 3,192,516 | 62 | 67 | 729,000 | lowest first | Casual Dining |

| fee_low | 35,000 | 21 | 67 | 39,500 | lowest first | Casual Dining |
| royalty | 4 | 5 | 67 | 5 | lowest first | Casual Dining |
| allin | 8.25 | 56 | 67 | 7 | lowest first | Casual Dining |
| outlets | 1,475 | 1 | 67 | 34 | highest first | Casual Dining |
| growth | -4.3 | 25 | 35 | -2.2 | highest first | Casual Dining |
| closure | 2.5 | 7 | 28 | 4.25 | lowest first | Casual Dining |

## Similar alternatives (closest first)
1. Twin Peaks (same sub-category; investment from $2,959,000)
2. Patsy's Italian Restaurant (same sub-category; investment from $2,853,500)
3. Fogo de Chão (same sub-category; investment from $2,680,000)
4. Ruth's Chris Steak House (same sub-category; investment from $2,502,000)
5. Chili's (same sub-category; investment from $3,959,695)
6. Carrabba's Italian Grill (same sub-category; investment from $4,260,000)
7. Bombshells Restaurant and Bar (same sub-category; investment from $2,094,000)
8. Outback Steakhouse (same sub-category; investment from $4,303,000)
9. Bonefish Grill (same sub-category; investment from $4,303,000)
10. Honest (same sub-category; investment from $1,862,000)


---

# AR Homes

- Brand slug: ar-homes
- Legal name: AR FRANCHISING, INC.
- Industry: Real Estate
- FDD year: 2024 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/ar-homes/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 65,000

- initial_fee_high_usd: 65,000
- royalty_pct: 3.5

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 0.25
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 1,000
- total_investment_low_usd: 535,000

- total_investment_high_usd: 2,190,000
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Royalty varies by product type (3.5%-4.25%). Minimum Annual Royalty set by mutual agreement. Brand Fund (marketing): 0.25% of Contract Sales, max $25,000/year, can increase to 1% with max $100,000. Item 6 prints the Technology Fee as "currently $1,00 per month"; Franchise Agreement Section 6.1(d) states a monthly Technology Fee of $1,000, which covers up to 5 users. Additional users are $100 per user per month.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 42

- franchised_outlets: 42
- company_outlets: 0

- states_count: 10
- closure_rate_pct: 8.2
- closures: 11
- closures_not_itemized: 0
- reacquired: 0
- franchised_outlet_years: 134
- closure_year_from: 2021
- closure_year_to: 2023
- closure_ranking_eligible: yes
- growth_pct: 0

- growth_outlets_from: 42

- growth_outlets_to: 42

- growth_year_from: 2021

- growth_year_to: 2023

- growth_ranking_eligible: yes

- all_in_fee_pct: 3.75
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 18,125,591
- basis: median, 29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results (29 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Closing Revenue | 29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results | 29 | 19,790,221 | 18,125,591 | 1,267,214 | 51,263,399 | 2023 Calendar Year | 48 |
| Gross Profit | 29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results | 29 | 2,938,578 | 2,237,139 | 258,525 | 12,265,251 | 2023 Calendar Year | 48 |
| Adj. Net Income (Net Income plus owner compensation) | 29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results | 29 | 1,121,735 | 486,453 | -357,291 | 8,083,158 | 2023 Calendar Year | 48 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2021 | 46 | 1 | 1 | 0 | 0 | 4 | not disclosed | 42 |
| 2022 | 42 | 5 | 0 | 0 | 0 | 1 | not disclosed | 46 |
| 2023 | 46 | 1 | 5 | 0 | 0 | 0 | not disclosed | 42 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 18,125,591

- investment_midpoint_usd: 1,362,500

- revenue_to_investment: 13.3

- royalty_pct: 3.5
- revenue_per_royalty_point_usd: 5,178,740

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 535,000 | 54 | 55 | 56,465 | lowest first | Real Estate |

| fee_low | 65,000 | 52 | 55 | 25,000 | lowest first | Real Estate |
| royalty | 3.5 | 5 | 35 | 5.5 | lowest first | Real Estate |
| allin | 3.75 | 6 | 35 | 6 | lowest first | Real Estate |
| outlets | 42 | 38 | 53 | 105 | highest first | Real Estate |
| growth | 0 | 14 | 40 | -6.5 | highest first | Real Estate |
| closure | 8.2 | 18 | 40 | 8.55 | lowest first | Real Estate |

## Similar alternatives (closest first)
1. Engel & Völkers (same sub-category; investment from $108,690)
2. The Oceanaire Realty (same sub-category; investment from $81,700)
3. Christie's International Real Estate (same sub-category; investment from $64,475)
4. Corcoran (same sub-category; investment from $62,150)
5. Sotheby's International Realty (same sub-category; investment from $47,250)
6. Integra (same industry; investment from $236,000)
7. Linden Creek (same industry; investment from $227,225)
8. Set the Stage (same industry; investment from $204,150)
9. Keller Williams Realty (same industry; investment from $183,647)
10. NE Tiny Homes (same industry; investment from $147,000)


---

# ATC Healthcare Services

- Brand slug: atc-healthcare-services
- Legal name: ATC Healthcare Services, LLC
- Industry: Staffing & Employment
- FDD year: 2026 (NASAA EFD)
- Source: https://www.nasaaefd.org/Franchise/Search
- FranchiseDepth page: https://franchisedepth.com/franchise/atc-healthcare-services/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 30,000

- initial_fee_high_usd: 50,000
- royalty_pct: not disclosed

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 0
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: not disclosed
- total_investment_low_usd: 158,500

- total_investment_high_usd: 302,500
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Standard fee $50,000; military veteran/active duty discount 25% ($37,500); last fiscal year collected $30,000-$50,000. Multiple unit packages: $50,000 first unit + $37,500 per additional unit. Royalty Fee is 45% of gross margin on temporary and temp-to-hire placement revenue and 15% of gross margin on permanent placement revenue, where gross margin is Total Revenue less Direct Costs. Conversion franchises pay 35% of gross margin on existing business for the first two years, then 45%. Minimum royalty, assessed quarterly: $12,000 in year 1 ($6,000 in each of quarters 3 and 4), $100,000 in year 2, $150,000 in year 3, $200,000 in year 4, $210,000 in year 5, $220,500 in year 6, $231,524 in year 7, $243,100 in year 8, $255,256 in year 9 and $268,016 in year 10. Technology Fee $1,500-$3,000 per month. Brand Development Fee of up to 1% of Total Revenue is reserved; the fund was not established as of September 30, 2025.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 34

- franchised_outlets: 34
- company_outlets: 0

- states_count: 17
- closure_rate_pct: 22.6
- closures: 36
- closures_not_itemized: 0
- reacquired: 4
- franchised_outlet_years: 159
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: -47.7

- growth_outlets_from: 65

- growth_outlets_to: 34

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: not disclosed
- all_in_basis: not disclosed

## Comparable revenue
- annual_revenue_usd: 1,518,641
- basis: median, Reporting Franchises Open for 1-5 Years (14 franchises) (14 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Total Revenue of Reporting Franchises Open for 1-5 Years | Reporting Franchises Open for 1-5 Years (14 franchises) | 14 | 3,536,960 | 1,518,641 | 105,577 | 13,786,163 | fiscal year ended September 30, 2025 | not disclosed |
| Gross Margin % of Reporting Franchises Open for 1-5 Years | Reporting Franchises Open for 1-5 Years (14 franchises) | 14 | 22 | 21 | 12 | 34 |  | not disclosed |
| Total Revenue of Reporting Franchises Open for 6-10 Years | Reporting Franchises Open for 6-10 Years (8 franchises) | 8 | 1,799,504 | 2,007,974 | 444,638 | 3,654,501 |  | not disclosed |
| Gross Margin % of Reporting Franchises Open for 6-10 Years | Reporting Franchises Open for 6-10 Years (8 franchises) | 8 | 25 | 23 | 18 | 37 |  | not disclosed |
| Total Revenue of Reporting Franchises Open for 11+ Years | Reporting Franchises Open for 11+ Years (11 franchises) | 11 | 3,485,449 | 1,966,369 | 283,978 | 10,286,436 |  | not disclosed |
| Gross Margin % of Reporting Franchises Open for 11+ Years | Reporting Franchises Open for 11+ Years (11 franchises) | 11 | 22 | 21 | 16 | 30 |  | not disclosed |
| Permanent Placements | Reporting Franchises Offering Permanent Placements (9 franchises) | not disclosed | 18,885 | 15,707 | 1,778 | 68,273 | fiscal year ended September 30, 2025 | 53 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 60 | 12 | 5 | 0 | 0 | 2 | not disclosed | 65 |
| 2024 | 65 | 1 | 28 | 0 | 4 | 0 | not disclosed | 34 |
| 2025 | 34 | 1 | 1 | 0 | 0 | 0 | not disclosed | 34 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 1,518,641

- investment_midpoint_usd: 230,500

- revenue_to_investment: 6.59

- royalty_pct: not disclosed
- revenue_per_royalty_point_usd: not disclosed

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 158,500 | 28 | 30 | 77,791.5 | lowest first | Staffing & Employment |

| fee_low | 30,000 | 10 | 29 | 37,500 | lowest first | Staffing & Employment |
| outlets | 34 | 15 | 30 | 33 | highest first | Staffing & Employment |
| growth | -47.7 | 15 | 15 | -4.9 | highest first | Staffing & Employment |
| closure | 22.6 | 13 | 13 | 10.2 | lowest first | Staffing & Employment |

## Similar alternatives (closest first)
1. Signal (same industry; investment from $160,200)
2. Labor Finders (same industry; investment from $153,635)
3. AtWork (same industry; investment from $165,000)
4. PrideStaff (same industry; investment from $151,950)
5. Silbar Security (same industry; investment from $145,500)
6. Snapchef (same industry; investment from $138,140)
7. Spherion (same industry; investment from $132,980)
8. Express Employment Professionals (same industry; investment from $131,000)
9. Nextaff (same industry; investment from $126,700)
10. The Entrepreneur's Source (same industry; investment from $114,350)


---

# Baja Fresh

- Brand slug: baja-fresh
- Legal name: BF Acquisition Holdings, LLC
- Industry: Food Quick Service
- FDD year: 2026 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/baja-fresh/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 10,000

- initial_fee_high_usd: 30,000
- royalty_pct: 5

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 3
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 130
- total_investment_low_usd: 428,560

- total_investment_high_usd: 1,034,290
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Traditional Restaurant: $30,000 (first unit), reduced to $15,000 for second and subsequent traditional restaurants. Non-Traditional Restaurant: $20,000 (first unit), reduced to $10,000 for second and subsequent non-traditional restaurants. Eligible Military (active, active reserve, or honorably discharged) and federally recognized 501(c)(3) organizations receive a 20% discount on the Initial Franchise Fee. No refunds under any circumstances. Fee is waived for transfer or renewal signings. Franchisor may periodically reduce the fee for limited-time promotions. Technology fees are a $55 per month POS Help Desk fee plus a POS data polling fee of up to $75 per month.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 68

- franchised_outlets: 67
- company_outlets: 1

- states_count: 11
- closure_rate_pct: 7.6
- closures: 16
- closures_not_itemized: 0
- reacquired: 6
- franchised_outlet_years: 211
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: -12.8

- growth_outlets_from: 78

- growth_outlets_to: 68

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 8
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 813,419
- basis: median, All franchised outlets (65 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Average Gross Sales / Median Gross Sales | All franchised outlets | 65 | 822,568 | 813,419 | not disclosed | not disclosed | December 1, 2024 through November 30, 2025 | 83 |
| Average Gross Sales / Median Gross Sales | Top 20% franchised outlets | 13 | 1,283,451 | 1,222,206 | not disclosed | not disclosed | December 1, 2024 through November 30, 2025 | 83 |
| Average Gross Sales / Median Gross Sales | Bottom 20% franchised outlets | 13 | 359,747 | 406,368 | not disclosed | not disclosed | December 1, 2024 through November 30, 2025 | 83 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 77 | 1 | 0 | 1 | 6 | 5 | 3 | 67 |
| 2024 | 67 | 1 | 0 | 1 | 0 | 4 | 1 | 67 |
| 2025 | 67 | 1 | 0 | 3 | 0 | 2 | 2 | 67 |

## Agreement terms (Item 17)
- term_years: 10

- renewal_count: 1
- renewal_term_years: 5
- renewal_fee: Pay a renewal franchise fee (amount not specified in Item 17 table; renewal FA may have materially different terms including higher royalty and advertising fees)

- transfer_fee: Transfer franchise fee and transfer training fee paid (amounts not specified in Item 17 table)
- cure_period_days: 14
- noncompete_post_term_years: 2

- noncompete_post_term_radius_miles: 10

- dispute_resolution: arbitration
- governing_law_state: not disclosed
- fdd_page: 75



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 813,419
- investment_midpoint_usd: 731,425
- revenue_to_investment: 1.11
- royalty_pct: 5

- revenue_per_royalty_point_usd: 162,684



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 428,560 | 18 | 40 | 440,350 | lowest first | Mexican |
| fee_low | 10,000 | 4 | 42 | 35,000 | lowest first | Mexican |

| royalty | 5 | 3 | 40 | 5 | lowest first | Mexican |

| allin | 8 | 25 | 40 | 7 | lowest first | Mexican |

| outlets | 68 | 12 | 40 | 22.5 | highest first | Mexican |

| growth | -12.8 | 17 | 20 | -6.75 | highest first | Mexican |

| closure | 7.6 | 13 | 17 | 6.2 | lowest first | Mexican |



## Similar alternatives (closest first)

1. Lucha Libre Gourmet Taco Shop (same sub-category; investment from $431,000)

2. Burrito Parrilla Mexicana (same sub-category; investment from $437,000)

3. Super Mex (same sub-category; investment from $418,644)

4. Barrio Burrito Bar (same sub-category; investment from $418,620)

5. California Tortilla (same sub-category; investment from $443,700)

6. Taco Pros (same sub-category; investment from $456,500)

7. Tijuana Flats (same sub-category; investment from $469,550)

8. Taco Maya (same sub-category; investment from $369,000)

9. Tio Juan's Margaritas Mexican Restaurant (same sub-category; investment from $488,800)

10. TacoTime (same sub-category; investment from $365,650)





---



# Batteries Plus



- Brand slug: batteries-plus

- Legal name: Batteries Plus, L.L.C.

- Industry: Retail Services

- FDD year: 2026 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/batteries-plus/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 15,000
- initial_fee_high_usd: 49,500

- royalty_pct: 5
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 1

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 1,098

- total_investment_low_usd: 284,786
- total_investment_high_usd: 536,636

- liquid_capital_usd: 100,000

- net_worth_usd: not disclosed



## Fee notes

Single-unit Initial Franchise Fee is $49,500. Under a Multiple Unit Franchise Agreement, fees are $49,500 for the 1st store, $44,500 for the 2nd, $39,500 for the 3rd, and $34,500 for the 4th and subsequent stores. A $15,000 Multiple Unit Territory Fee per store is credited against future Initial Franchise Fees. A $10,000 discount is available for qualifying veterans, active/retired firefighters, police officers, EMT/paramedics, nurses, and teachers off the first store fee. Existing franchisees in good standing for 36+ months may open one additional store at a discounted Initial Franchise Fee of $15,000 (lowest possible value). All fees are non-refundable. Monthly technology fees total $1,098: Software Support $509, Omni-Channel Maintenance $200, Avalara Avatax $27, Payment Gateway $22, Salesforce.com CRM $80, Managed Security Services (PCI) $200 and RepairQ $60. The Minimum Store Promotion Requirement is a pro rata $20,000 in the first calendar year, then the greater of 4% of prior-year Net Revenues or $20,000 per year; a shortfall must be deposited with the franchisor. $20,000 is paid to the franchisor at store opening and applied to the Digital Marketing Contribution, which will not exceed the greater of 3% of Net Revenues or the Minimum Store Promotion Requirement.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 734
- franchised_outlets: 601

- company_outlets: 133
- states_count: 50

- closure_rate_pct: 4.2

- closures: 77

- closures_not_itemized: 0

- reacquired: 21

- franchised_outlet_years: 1819

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: 1.7
- growth_outlets_from: 722
- growth_outlets_to: 734
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 6

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 833,660

- basis: median, All Franchised Same Stores (490) - Table A-2 (490 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Merchandise Margin Percentage (Retail and Commercial) | 490 Same Stores (franchised-owned, open at least 308 days, January 1, 2025 through November 2, 2025) | 490 | 51 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 53 |

| Merchandise Margin Percentage - Retail | All Stores (490 franchised-owned), Retail customers | 490 | 60 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |

| Merchandise Margin Percentage - Commercial | All Stores (490 franchised-owned), Commercial customers | 490 | 38 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |

| Percentage of Net Revenue - Retail | All Stores (490 franchised-owned), Retail customers | 490 | 58 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |

| Percentage of Net Revenue - Commercial | All Stores (490 franchised-owned), Commercial customers | 490 | 42 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |

| Average Net Revenue (More than 35% of Total Net Revenue is Commercial Sales) | More than 35% of Total Net Revenue is Commercial Sales (268 Same Stores) | 268 | 1,052,912 | 925,171 | 407,996 | 7,352,102 | September 1, 2024 to August 31, 2025 | 55 |

| Average Net Revenue (Less than or equal to 35% of Total Net Revenue is Commercial Sales) | Less than or equal to 35% of Total Net Revenue is Commercial Sales (222 Same Stores) | 222 | 836,173 | 741,881 | 414,143 | 3,076,869 | September 1, 2024 to August 31, 2025 | 55 |

| Average Net Revenue (More than $1.50 Average Add on Margin per Transaction) | More than $1.50 Average Add on Margin per Transaction (174 Same Stores) | 174 | 1,108,829 | 951,211 | 407,996 | 7,352,102 | September 1, 2024 to August 31, 2025 | 55 |

| Average Net Revenue (Less than or equal to $1.50 Average Add on Margin per Transaction) | Less than or equal to $1.50 Average Add on Margin per Transaction (316 Same Stores) | 316 | 869,857 | 751,166 | 414,143 | 3,566,005 | September 1, 2024 to August 31, 2025 | 55 |

| Average Retail Sales Ticket Amount | 490 Same Stores, Retail customers | 490 | 54.4 | 53.6 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |

| Average Commercial Sales Ticket Amount | 490 Same Stores, Commercial customers | 490 | 297.98 | 250.89 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |

| Average Total Sales Ticket Amount | 490 Same Stores, Retail and Commercial combined | 490 | 82.58 | 76.46 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |

| Average Net Revenue - Commercial Sales Focused Stores, Top 10% | Top 10% of 282 Franchised Commercial Sales Focused Same Stores | 28 | 2,360,651 | 2,012,819 | 1,684,040 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Top 25% | Top 25% of 282 Franchised Commercial Sales Focused Same Stores | 70 | 1,793,046 | 1,572,375 | 1,229,337 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Top 50% | Top 50% of 282 Franchised Commercial Sales Focused Same Stores | 141 | 1,424,337 | 1,217,407 | 935,549 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Top 75% | Top 75% of 282 Franchised Commercial Sales Focused Same Stores | 211 | 1,216,740 | 1,047,885 | 667,588 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Bottom 10% | Bottom 10% of 282 Franchised Commercial Sales Focused Same Stores | 28 | 486,571 | 485,664 | 407,996 | 554,257 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Bottom 25% | Bottom 25% of 282 Franchised Commercial Sales Focused Same Stores | 70 | 558,604 | 570,483 | 407,996 | 662,011 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Bottom 50% | Bottom 50% of 282 Franchised Commercial Sales Focused Same Stores | 141 | 682,408 | 667,588 | 407,996 | 931,080 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, Bottom 75% | Bottom 75% of 282 Franchised Commercial Sales Focused Same Stores | 211 | 809,141 | 825,484 | 407,996 | 1,217,407 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Commercial Sales Focused Stores, All Stores | All 282 Franchised Commercial Sales Focused Same Stores | 282 | 1,053,373 | 933,315 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 10% | Top 10% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 20 | 1,657,416 | 1,447,666 | 1,319,452 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 25% | Top 25% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 52 | 1,334,258 | 1,241,737 | 990,415 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 50% | Top 50% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 104 | 1,081,528 | 981,471 | 711,518 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 75% | Top 75% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 156 | 931,955 | 816,925 | 572,615 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 10% | Bottom 10% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 20 | 440,952 | 438,916 | 414,143 | 474,660 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 25% | Bottom 25% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 52 | 487,980 | 485,044 | 414,143 | 564,948 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 50% | Bottom 50% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 104 | 560,393 | 568,782 | 414,143 | 710,807 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 75% | Bottom 75% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 156 | 649,862 | 627,908 | 414,143 | 972,527 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), All Stores | All 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 208 | 820,961 | 711,163 | 414,143 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |

| Average Net Revenue - Corporate Stores, Top Quartile | Top Quartile of 133 Corporate Stores (Table A-1) | 33 | 1,647,392 | 1,463,386 | 1,203,909 | 3,522,307 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Corporate Stores, Second Quartile | Second Quartile of 133 Corporate Stores (Table A-1) | 33 | 1,055,834 | 1,036,367 | 963,944 | 1,190,202 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Corporate Stores, Third Quartile | Third Quartile of 133 Corporate Stores (Table A-1) | 33 | 881,298 | 883,737 | 796,514 | 954,213 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Corporate Stores, Bottom Quartile | Bottom Quartile of 133 Corporate Stores (Table A-1) | 34 | 668,554 | 694,131 | 507,509 | 790,844 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - All Corporate Stores | All Corporate Stores (133) - Table A-1 | 133 | 1,060,302 | 954,213 | 507,509 | 3,522,307 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Franchised Same Stores, Top Quartile | Top Quartile of 490 Franchised Same Stores (Table A-2) | 122 | 1,614,404 | 1,418,220 | 1,125,793 | 7,352,102 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Franchised Same Stores, Second Quartile | Second Quartile of 490 Franchised Same Stores (Table A-2) | 123 | 972,577 | 967,308 | 834,301 | 1,123,571 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Franchised Same Stores, Third Quartile | Third Quartile of 490 Franchised Same Stores (Table A-2) | 123 | 712,840 | 706,111 | 613,718 | 833,020 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Franchised Same Stores, Bottom Quartile | Bottom Quartile of 490 Franchised Same Stores (Table A-2) | 122 | 520,881 | 524,436 | 407,996 | 610,504 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - All Franchised Same Stores (Table A-2) | All Franchised Same Stores (490) - Table A-2 | 490 | 833,660 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 58 |

| Average Net Revenue - Corporate and Franchised Same Stores, Top Quartile | Top Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 155 | 1,622,330 | 1,423,556 | 1,145,971 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate and Franchised Same Stores, Second Quartile | Second Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 997,576 | 995,963 | 875,976 | 1,143,246 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate and Franchised Same Stores, Third Quartile | Third Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 754,022 | 748,294 | 639,505 | 872,724 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate and Franchised Same Stores, Bottom Quartile | Bottom Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 539,235 | 554,407 | 407,996 | 637,340 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - All Corporate and Franchised Stores (Table A-3) | All Corporate and Franchised Same Stores (623) - Table A-3 | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate Stores, Top Third | Top Third of 133 Corporate Stores (Table B-1) | 44 | 1,517,987 | 1,296,378 | 1,089,544 | 3,522,307 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate Stores, Middle Third | Middle Third of 133 Corporate Stores (Table B-1) | 44 | 964,630 | 959,079 | 855,823 | 1,086,020 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate Stores, Bottom Third | Bottom Third of 133 Corporate Stores (Table B-1) | 45 | 706,333 | 715,969 | 507,509 | 854,144 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - All Corporate Stores (Table B-1) | All Corporate Stores (133) - Table B-1 | 133 | 1,060,302 | 954,213 | 507,509 | 3,522,307 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Franchised Same Stores, Top Third | Top Third of 490 Franchised Same Stores (Table B-2) | 163 | 1,478,088 | 1,285,722 | 1,014,707 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Franchised Same Stores, Middle Third | Middle Third of 490 Franchised Same Stores (Table B-2) | 164 | 836,133 | 833,660 | 670,374 | 1,014,285 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Franchised Same Stores, Bottom Third | Bottom Third of 490 Franchised Same Stores (Table B-2) | 163 | 550,655 | 561,674 | 407,996 | 669,470 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - All Franchised Same Stores (Table B-2) | All Franchised Same Stores (490) - Table B-2 | 490 | 954,716 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |

| Average Net Revenue - Corporate and Franchised Same Stores, Top Third (Table B-2/B-3) | Top Third of 623 Combined Corporate and Franchised Same Stores (Table B-2 Corporate and Franchised) | 207 | 1,487,888 | 1,287,770 | 1,033,513 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate and Franchised Same Stores, Middle Third | Middle Third of 623 Combined Corporate and Franchised Same Stores | 208 | 872,795 | 874,350 | 710,807 | 1,031,004 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate and Franchised Same Stores, Bottom Third | Bottom Third of 623 Combined Corporate and Franchised Same Stores | 208 | 573,542 | 579,869 | 407,996 | 710,643 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - All Corporate and Franchised Stores (Table B combined) | All Corporate and Franchised Same Stores (623) - Table B combined | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Top 10% (Table C-1) | Top 10% of 133 Corporate Stores (Table C-1) | 13 | 2,130,083 | 1,949,909 | 1,638,069 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Top 25% (Table C-1) | Top 25% of 133 Corporate Stores (Table C-1) | 33 | 1,647,392 | 1,463,386 | 1,203,909 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Top 50% (Table C-1) | Top 50% of 133 Corporate Stores (Table C-1) | 66 | 1,351,613 | 1,197,056 | 963,944 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Top 75% (Table C-1) | Top 75% of 133 Corporate Stores (Table C-1) | 99 | 1,194,842 | 1,036,367 | 796,514 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Bottom 10% (Table C-1) | Bottom 10% of 133 Corporate Stores (Table C-1) | 13 | 573,573 | 576,376 | 507,509 | 653,812 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Bottom 25% (Table C-1) | Bottom 25% of 133 Corporate Stores (Table C-1) | 33 | 664,848 | 690,051 | 507,509 | 786,155 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Bottom 50% (Table C-1) | Bottom 50% of 133 Corporate Stores (Table C-1) | 66 | 770,598 | 788,499 | 507,509 | 953,313 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Corporate Stores, Bottom 75% (Table C-1) | Bottom 75% of 133 Corporate Stores (Table C-1) | 99 | 863,293 | 883,632 | 507,509 | 1,180,945 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - All Corporate Stores (Table C-1) | All Corporate Stores (133) - Table C-1 | 133 | 1,044,609 | 938,246 | 473,903 | 3,511,841 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Franchised Stores, Top 10% (Table C-2) | Top 10% of 490 Franchised Same Stores (Table C-2) | 49 | 2,103,785 | 1,886,367 | 1,497,970 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |

| Average Net Revenue - Franchised Stores, Top 25% (Table C-2) | Top 25% of 490 Franchised Same Stores (Table C-2) | 122 | 1,614,404 | 1,418,220 | 1,125,793 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Top 50% (Table C-2) | Top 50% of 490 Franchised Same Stores (Table C-2) | 245 | 1,292,180 | 1,123,571 | 834,301 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Top 75% (Table C-2) | Top 75% of 490 Franchised Same Stores (Table C-2) | 368 | 1,098,542 | 966,208 | 613,718 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Bottom 10% (Table C-2) | Bottom 10% of 490 Franchised Same Stores (Table C-2) | 49 | 459,483 | 463,632 | 407,996 | 501,961 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Bottom 25% (Table C-2) | Bottom 25% of 490 Franchised Same Stores (Table C-2) | 122 | 520,881 | 524,436 | 407,996 | 610,504 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Bottom 50% (Table C-2) | Bottom 50% of 490 Franchised Same Stores (Table C-2) | 245 | 617,252 | 524,436 | 407,996 | 833,020 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Franchised Stores, Bottom 75% (Table C-2) | Bottom 75% of 490 Franchised Same Stores (Table C-2) | 368 | 736,016 | 706,172 | 407,996 | 1,123,571 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - All Franchised Stores (Table C-2) | All Franchised Same Stores (490) - Table C-2 | 490 | 954,716 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Top 10% (Table C-3) | Top 10% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 62 | 2,111,304 | 1,923,513 | 1,512,309 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Top 25% (Table C-3) | Top 25% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 155 | 1,622,330 | 1,423,556 | 1,145,971 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Top 50% (Table C-3) | Top 50% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 311 | 1,308,949 | 1,143,246 | 875,976 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Top 75% (Table C-3) | Top 75% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 473 | 1,117,381 | 994,087 | 631,111 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Bottom 10% (Table C-3) | Bottom 10% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 62 | 470,253 | 474,728 | 407,996 | 523,213 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Bottom 25% (Table C-3) | Bottom 25% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 155 | 538,602 | 554,257 | 407,996 | 636,950 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Bottom 50% (Table C-3) | Bottom 50% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 311 | 645,901 | 637,340 | 407,996 | 870,343 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - Corporate and Franchised Stores, Bottom 75% (Table C-3) | Bottom 75% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 467 | 762,798 | 747,067 | 407,996 | 1,131,156 | January 1, 2025 to December 31, 2025 | 61 |

| Average Net Revenue - All Corporate and Franchised Stores (Table C-3) | All Corporate and Franchised Same Stores (623) - Table C-3 | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |

| Net Revenue - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 1,469,998 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| Gross Profit Margin - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 773,612 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| EBITDA - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 252,887 | 211,223 | 211,223 | 769,031 | January 1, 2025 to December 31, 2025 | 62 |

| Net Revenue - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 962,112 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| Gross Profit Margin - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 490,083 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| EBITDA - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 100,468 | 102,339 | 56,696 | 128,070 | January 1, 2025 to December 31, 2025 | 62 |

| Net Revenue - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 759,408 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| Gross Profit Margin - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 367,641 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| EBITDA - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 13,945 | 14,815 | -98,635 | 56,063 | January 1, 2025 to December 31, 2025 | 62 |

| Net Revenue - All Company-Owned Stores by EBITDA | All Company-Owned Stores by EBITDA (133 stores) | 133 | 1,061,550 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| Gross Profit Margin - All Company-Owned Stores | All Company-Owned Stores by EBITDA (133 stores) | 133 | 545,499 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |

| EBITDA - All Company-Owned Stores | All Company-Owned Stores by EBITDA (133 stores) | 133 | 121,618 | 101,618 | -98,635 | 769,031 | January 1, 2025 to December 31, 2025 | 62 |

| Net Revenue - All Corporate Stores (Annual = sum of 2025 monthly averages) | All 133 Corporate Stores - Monthly Detail (Annual Sum) | 133 | 1,061,963 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 63 |

| EBITDA - All Corporate Stores (Annual = sum of 2025 monthly averages) | All 133 Corporate Stores - Monthly Detail (Annual Sum) | 133 | 116,078 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 63 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 609 | 30 | 2 | 5 | 4 | 22 | not disclosed | 606 |

| 2024 | 606 | 30 | 2 | 2 | 17 | 11 | not disclosed | 604 |

| 2025 | 604 | 30 | 0 | 1 | 0 | 32 | not disclosed | 601 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 833,660
- investment_midpoint_usd: 410,711
- revenue_to_investment: 2.03
- royalty_pct: 5

- revenue_per_royalty_point_usd: 166,732



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 284,786 | 58 | 72 | 170,207.5 | lowest first | Specialty Retail |
| fee_low | 15,000 | 11 | 71 | 29,500 | lowest first | Specialty Retail |

| royalty | 5 | 16 | 61 | 5 | lowest first | Specialty Retail |

| allin | 6 | 18 | 61 | 7 | lowest first | Specialty Retail |

| outlets | 734 | 3 | 70 | 44 | highest first | Specialty Retail |

| growth | 1.7 | 18 | 44 | -2.95 | highest first | Specialty Retail |

| closure | 4.2 | 15 | 40 | 5 | lowest first | Specialty Retail |



## Similar alternatives (closest first)

1. HobbyTown (same sub-category; investment from $281,100)

2. Del's Popcorn Shop (same sub-category; investment from $279,365)

3. Clothes Mentor (same sub-category; investment from $272,000)

4. WineStyles Tasting Station (same sub-category; investment from $298,000)

5. Jamin Leather (same sub-category; investment from $270,400)

6. Good Feet (same sub-category; investment from $255,478)

7. Carré d'artistes (same sub-category; investment from $251,300)

8. B-Land Beauty (same sub-category; investment from $318,761)

9. Scout & Molly's (same sub-category; investment from $319,000)

10. Jayasri Sweets (same sub-category; investment from $243,000)





---



# Bella Bridesmaids



- Brand slug: bella-bridesmaids

- Legal name: Bella Bridesmaids Franchise Group, LLC

- Industry: Retail Services

- FDD year: 2024 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/bella-bridesmaids/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 50,000
- initial_fee_high_usd: 50,000

- royalty_pct: 4
- royalty_min_monthly_usd: 600

- marketing_fee_pct: not disclosed

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 125

- total_investment_low_usd: 102,900
- total_investment_high_usd: 262,000

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

First location $50,000 (nonrefundable). Subsequent locations in protected territory $10,000. Outside territory 75% of then-current fee. $10,000 security deposit also required. Systemwide Marketing Fund fee set by the location's previous year's sales: $1,000 per year up to $300,000, $1,500 per year for $300,000–$400,000, $2,000 per year for $400,000–$600,000, and 0.5% of monthly gross revenue above $600,000, paid in 12 equal monthly instalments.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 45
- franchised_outlets: 41

- company_outlets: 4
- states_count: 27

- closure_rate_pct: 7.7

- closures: 13

- closures_not_itemized: 0

- reacquired: 3

- franchised_outlet_years: 169

- closure_year_from: 2021

- closure_year_to: 2023

- closure_ranking_eligible: yes

- growth_pct: -22.4
- growth_outlets_from: 58
- growth_outlets_to: 45
- growth_year_from: 2021
- growth_year_to: 2023
- growth_ranking_eligible: yes
- all_in_fee_pct: 4

- all_in_basis: royalty only (no marketing-fund % listed)



## Comparable revenue

- annual_revenue_usd: 290,315

- basis: median, 41 franchised stores operational entire 2023 calendar year (41 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| average annual gross revenue | 41 franchised stores operational entire 2023 calendar year | 41 | 363,289 | 290,315 | 84,031 | 1,000,688 | 2023 calendar year | not disclosed |

| average gross revenues | 45 stores (41 franchised + 4 company-owned) operational entire 2023 calendar year | 45 | 373,189 | 290,315 | 84,030.64 | 1,000,688 | 2023 calendar year | not disclosed |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2021 | 57 | 0 | 0 | 0 | 0 | 0 | 1 | 57 |

| 2022 | 57 | 0 | 1 | 0 | 1 | 0 | 1 | 55 |

| 2023 | 55 | 0 | 1 | 0 | 2 | 11 | 10 | 41 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 290,315
- investment_midpoint_usd: 182,450
- revenue_to_investment: 1.59
- royalty_pct: 4

- revenue_per_royalty_point_usd: 72,579



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 102,900 | 16 | 72 | 170,207.5 | lowest first | Specialty Retail |
| fee_low | 50,000 | 66 | 71 | 29,500 | lowest first | Specialty Retail |

| royalty | 4 | 10 | 61 | 5 | lowest first | Specialty Retail |

| allin | 4 | 2 | 61 | 7 | lowest first | Specialty Retail |

| outlets | 45 | 35 | 70 | 44 | highest first | Specialty Retail |

| growth | -22.4 | 41 | 44 | -2.95 | highest first | Specialty Retail |

| closure | 7.7 | 28 | 40 | 5 | lowest first | Specialty Retail |



## Similar alternatives (closest first)

1. The Smoky Grass Station (same sub-category; investment from $96,150)

2. Pro Image Sports (same sub-category; investment from $109,750)

3. Sunmed™ | YOUR CBD STORE® (same sub-category; investment from $95,800)

4. Cheong Kwan Jang (same sub-category; investment from $110,000)

5. Jung Kwan Jang (same sub-category; investment from $111,000)

6. Everything Christmas (same sub-category; investment from $112,600)

7. Good Games (same sub-category; investment from $114,250)

8. Fast-FIX Jewelry and Watch Repairs (same sub-category; investment from $114,700)

9. CBD American Shaman (same sub-category; investment from $88,100)

10. FauxReal Flowers (same sub-category; investment from $78,500)





---



# CD ONE Price Cleaners



- Brand slug: cd-one-price-cleaners

- Legal name: CLEANERS DEPOT FRANCHISE, LLC

- Industry: Dry Cleaning

- FDD year: 2024 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/cd-one-price-cleaners/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 6,000
- initial_fee_high_usd: 30,000

- royalty_pct: 6.5
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 3

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: not disclosed

- total_investment_low_usd: 903,225
- total_investment_high_usd: 1,351,850

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Plant Store: $30,000. Satellite Store: $12,500 standard, $6,000 if signed in 2024 and opened by Dec 31, 2024 (Satellite Store Incentive Program). Qualified veterans: $0. Legacy Plant Store Renewal: $0. Development Rights Agreement: $5,000 per store (credited toward franchise fee). New Plant Stores must offer pickup and delivery (PUD) Services under the PUD Addendum. It adds a Technology Fee of 5% of Gross PUD Revenues, currently paid to affiliate COW. It also adds Marketing Fund contributions of 3.5% (Customer Acquisition) and 2% (Customer Development and Retention) of Gross PUD Revenues. The royalty and 3% Marketing Fund also apply to PUD revenue.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 40
- franchised_outlets: 40

- company_outlets: 0
- states_count: 4

- closure_rate_pct: 0

- closures: 0

- closures_not_itemized: 0

- reacquired: 0

- franchised_outlet_years: 109

- closure_year_from: 2021

- closure_year_to: 2023

- closure_ranking_eligible: yes

- growth_pct: 8.1
- growth_outlets_from: 37
- growth_outlets_to: 40
- growth_year_from: 2021
- growth_year_to: 2023
- growth_ranking_eligible: yes
- all_in_fee_pct: 9.5

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 1,075,802

- basis: median, All 34 Revenue Reporting Plant Stores (34 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Gross Revenue | Top Third Plant Stores (by 2023 Gross Revenue) | 11 | 1,367,307 | 1,232,941 | 1,115,602 | 2,306,859 | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 63 |

| Gross Revenue | Middle Third Plant Stores (by 2023 Gross Revenue) | 12 | 1,031,729 | 1,075,802 | 911,824 | 1,114,301 | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 63 |

| Gross Revenue | Bottom Third Plant Stores (by 2023 Gross Revenue) | 11 | 780,958 | 789,735 | 677,702 | 888,244 | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 63 |

| Gross Revenue | All 34 Revenue Reporting Plant Stores | 34 | 1,059,167 | 1,075,802 | 677,702 | 2,306,859 | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 63 |

| Gross Revenue | All 4 Revenue Reporting Satellite Stores | 4 | 376,749 | 407,712 | 260,525 | 431,047 | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 63 |

| Occupancy Costs (as % of Gross Revenue) | Cost Reporting Stores (32 stores: 28 Plant, 4 Satellite) | 32 | 11.7 | 12 | not disclosed | not disclosed | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 64 |

| Labor Costs (as % of Gross Revenue) | Cost Reporting Stores (32 stores) | 32 | 37.5 | 38.6 | not disclosed | not disclosed | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 64 |

| Production Supplies Costs (as % of Gross Revenue) | Cost Reporting Stores (32 stores) | 32 | 8.2 | 7.8 | not disclosed | not disclosed | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 64 |

| Electricity Costs (as % of Gross Revenue) | Cost Reporting Stores (32 stores) | 32 | 1.6 | 1.5 | not disclosed | not disclosed | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 64 |

| Natural Gas Costs (as % of Gross Revenue) | Cost Reporting Stores (32 stores) | 32 | 1.6 | 1.4 | not disclosed | not disclosed | 2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023) | 64 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2021 | 35 | 1 | 0 | 0 | 0 | 0 | 2 | 36 |

| 2022 | 36 | 2 | 0 | 0 | 0 | 0 | 2 | 38 |

| 2023 | 38 | 2 | 0 | 0 | 0 | 0 | 4 | 40 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 1,075,802
- investment_midpoint_usd: 1,127,537
- revenue_to_investment: 0.95
- royalty_pct: 6.5

- revenue_per_royalty_point_usd: 165,508



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 903,225 | 8 | 12 | 647,224 | lowest first | Dry Cleaning |
| fee_low | 6,000 | 1 | 11 | 20,000 | lowest first | Dry Cleaning |

| royalty | 6.5 | 11 | 12 | 6 | lowest first | Dry Cleaning |

| allin | 9.5 | 10 | 12 | 7.5 | lowest first | Dry Cleaning |

| outlets | 40 | 4 | 11 | 13 | highest first | Dry Cleaning |



## Similar alternatives (closest first)

1. ZIPS Cleaners (same industry; investment from $867,700)

2. LaundroLab (same industry; investment from $1,182,500)

3. Speed Queen (same industry; investment from $1,199,663)

4. Laundry Spot (same industry; investment from $1,268,500)

5. Martinizing (same industry; investment from $426,748)

6. Door to Door Laundry (same industry; investment from $393,783)

7. WaveMAX Laundry (same industry; investment from $359,105)

8. Mulberrys Garment Care (same industry; investment from $353,500)

9. Tide Laundromat (same industry; investment from $1,751,885)

10. Bubbly (same industry; investment from $47,585)





---



# Complete Weddings + Events



- Brand slug: complete-weddings-events

- Legal name: Complete Music, Inc.

- Industry: Entertainment & Recreation

- FDD year: 2026 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/complete-weddings-events/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 15,000
- initial_fee_high_usd: 50,000

- royalty_pct: 8
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 2

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 623

- total_investment_low_usd: 68,800
- total_investment_high_usd: 80,750

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Standard fee $50,000. Incentive program (by 3/31/2027): Option 1: $40,000 initial + 8% royalty; Option 2: $15,000 initial + 13% royalty until $800k cumulative receipts, then 8%. Failure to open triggers additional payments ($10k or $35k depending on option). Website, CRM and Technology Support Fee is currently $83 per week (capped at $300 per week) and Computer System Maintenance, Hosting and Licensing Fee is currently $55 per week, together $598 per month at 52/12; the Venue Website fee of $300 per year adds $25 per month. Participation in the National Sales Program is required: currently $100 per week (about $433 per month at 52/12) plus commissions of $65 per service sold, or 10% of the total booking if under $650; the weekly fee may rise to $250. Local advertising spend of 4% of Gross Receipts is required, and the Google Ads Program minimum of $87.50 per week ($37.50 of it a management fee) counts toward it.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 82
- franchised_outlets: 81

- company_outlets: 1
- states_count: 33

- closure_rate_pct: 3.8

- closures: 8

- closures_not_itemized: 0

- reacquired: 0

- franchised_outlet_years: 212

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: 18.8
- growth_outlets_from: 69
- growth_outlets_to: 82
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 10

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 208,376.66

- basis: median, Franchised businesses open the full 2025 calendar year (70 of 81; 7 opened in 2025 and 4 transferred excluded) (70 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Gross Receipts | Franchised businesses open the full 2025 calendar year (70 of 81; 7 opened in 2025 and 4 transferred excluded) | 70 | 322,160.76 | 208,376.66 | 21,119 | 2,393,115.6 | Calendar Year 2025 | 33 |

| Gross Receipts | Top Third of the 70 franchised businesses by 2025 Gross Receipts | 23 | 645,897.24 | 485,160 | 328,666.27 | 2,393,115.6 | Calendar Year 2025 | 33 |

| Gross Receipts | Middle Third of the 70 franchised businesses by 2025 Gross Receipts | 23 | 228,358.94 | 218,935.21 | 160,642.5 | 312,130 | Calendar Year 2025 | 33 |

| Gross Receipts | Bottom Third of the 70 franchised businesses by 2025 Gross Receipts | 24 | 101,806.7 | 103,477.73 | 21,119 | 153,685 | Calendar Year 2025 | 33 |

| Gross Receipts | Affiliate-owned business (Iowa and Nebraska territory), full 2025 calendar year | 1 | 2,061,551.14 | not disclosed | not disclosed | not disclosed | Calendar Year 2025 | 33 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 66 | 5 | 0 | 0 | 0 | 3 | 6 | 68 |

| 2024 | 68 | 11 | 0 | 0 | 0 | 1 | not disclosed | 78 |

| 2025 | 78 | 7 | 3 | 0 | 0 | 1 | 6 | 81 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 208,377
- investment_midpoint_usd: 74,775
- revenue_to_investment: 2.79
- royalty_pct: 8

- revenue_per_royalty_point_usd: 26,047



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 68,800 | 7 | 72 | 266,500 | lowest first | Entertainment & Recreation |
| fee_low | 15,000 | 3 | 69 | 40,000 | lowest first | Entertainment & Recreation |

| royalty | 8 | 56 | 67 | 6 | lowest first | Entertainment & Recreation |

| allin | 10 | 56 | 67 | 8 | lowest first | Entertainment & Recreation |

| outlets | 82 | 10 | 67 | 15 | highest first | Entertainment & Recreation |

| growth | 18.8 | 10 | 27 | 10.6 | highest first | Entertainment & Recreation |

| closure | 3.8 | 10 | 21 | 4.8 | lowest first | Entertainment & Recreation |



## Similar alternatives (closest first)

1. Wine and Design (same industry; investment from $69,950)

2. The Rock Underground (same industry; investment from $70,500)

3. AR Workshop (same industry; investment from $71,449)

4. Eaglerider (same industry; investment from $73,500)

5. The Hot Spot (same industry; investment from $74,900)

6. The Giggling Pig (same industry; investment from $75,000)

7. City Brew Tours (same industry; investment from $76,200)

8. DivaDance (same industry; investment from $56,700)

9. Valhallan (same industry; investment from $82,950)

10. Perfect Skating (same industry; investment from $53,940)





---



# Decorate With Lights



- Brand slug: decorate-with-lights

- Legal name: DWL Corp

- Industry: Outdoor

- FDD year: 2026 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/decorate-with-lights/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 10,000
- initial_fee_high_usd: 10,000

- royalty_pct: 8
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 2

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: not disclosed

- total_investment_low_usd: 36,200
- total_investment_high_usd: 70,450

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

2nd territory $7,500; larger territories at $1/home over 50,000. Non-refundable. Minimum local marketing spend of $12,500 for a single unit territory during the first full Peak Season. From the second calendar year of operation, the franchisee must spend annually the greater of 5% of Gross Sales or $15,000 on local advertising. Advertising Cooperative contributions (currently $0; up to $25,000 per calendar year) are credited toward the local advertising expenditure.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 128
- franchised_outlets: 105

- company_outlets: 23
- states_count: 12

- closure_rate_pct: 6.9

- closures: 23

- closures_not_itemized: 3

- reacquired: 0

- franchised_outlet_years: 331

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: 8.5
- growth_outlets_from: 118
- growth_outlets_to: 128
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 10

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 30,108

- basis: median, All franchisees operating all of 2025 (system wide), per franchisee (18 owners; average 5.1 territories each)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Revenue, July–December 2024 total (6 months) | Company-controlled location, Raleigh, NC (operated by DWL's Director of Operations, an employee) | 1 | 130,379 | not disclosed | not disclosed | not disclosed | July–December 2024 | 43 |

| Average Ticket Price (all jobs) | Company-controlled location, Raleigh, NC (operated by DWL's Director of Operations, an employee) | 1 | 1,366 | not disclosed | not disclosed | not disclosed | Calendar year 2024 | 44 |

| Average Ticket Price (new jobs) | Company-controlled location, Raleigh, NC (operated by DWL's Director of Operations, an employee) | 1 | 2,244 | not disclosed | not disclosed | not disclosed | Calendar year 2024 | 44 |

| Revenue | Existing franchisees (operating all of 2024, more than one year), per franchisee (9 owners) | 9 | 56,614 | 31,934 | 7,548 | 136,326 | Calendar year 2024 | 45 |

| Revenue | First-year franchisees (first full year 2024), per franchisee (4 owners) | 4 | 10,598 | 7,546 | 5,085 | 22,212 | Calendar year 2024 | 45 |

| Ticket Price | Existing franchisees (operating all of 2024, more than one year), per franchisee (9 owners) | 9 | 1,355 | 1,258 | 645 | 2,423 | Calendar year 2024 | 45 |

| Ticket Price | First-year franchisees (first full year 2024), per franchisee (4 owners) | 4 | 1,211 | 1,203 | 876 | 1,582 | Calendar year 2024 | 45 |

| Revenue | All franchisees (Table 7), per franchisee (count not stated) | not disclosed | 56,291 | 22,822 | 9,044 | 151,175 | Calendar year 2022 | 45 |

| Revenue | All franchisees (Table 7), per franchisee (count not stated) | not disclosed | 47,110 | 24,423 | 6,735 | 115,177 | Calendar year 2023 | 45 |

| Revenue | All franchisees (Table 7), per franchisee (13 owners) | 13 | 42,456 | 31,934 | 5,085 | 136,326 | Calendar year 2024 | 45 |

| Ticket Price | All franchisees (Table 7), per franchisee (count not stated) | not disclosed | 1,498 | 1,454 | 481 | 3,888 | Calendar year 2023 | 46 |

| Ticket Price | All franchisees (Table 7), per franchisee (13 owners) | 13 | 1,342 | 1,258 | 645 | 2,423 | Calendar year 2024 | 46 |

| Gross Revenue | Top 33% of franchisees by 2025 revenue, per franchisee (6 owners; average 5.7 territories each) | 6 | 101,747 | 100,073 | 52,711 | 161,453 | Calendar year 2025 | 46 |

| Gross Revenue | Middle 33% of franchisees by 2025 revenue, per franchisee (6 owners; average 4.3 territories each) | 6 | 31,689 | 30,108 | 23,960 | 42,928 | Calendar year 2025 | 46 |

| Gross Revenue | Bottom 33% of franchisees by 2025 revenue, per franchisee (6 owners; average 5.2 territories each) | 6 | 10,502 | 10,153 | 4,352 | 17,671 | Calendar year 2025 | 46 |

| Gross Revenue | All franchisees operating all of 2025 (system wide), per franchisee (18 owners; average 5.1 territories each) | 18 | 47,979 | 30,108 | 4,352 | 161,453 | Calendar year 2025 | 46 |

| Gross Revenue | 1st-year franchisees (operating all of 2025), per franchisee (6 owners; average 3.2 territories each) | 6 | 29,748 | 27,309 | 6,719 | 64,613 | Calendar year 2025 | 46 |

| Gross Revenue | 2nd-year franchisees (2025), per franchisee (2 owners; average 3.5 territories each) | 2 | 26,817 | 26,817 | 23,960 | 29,674 | Calendar year 2025 | 46 |

| Gross Revenue | 3rd-year franchisees (2025), per franchisee (2 owners; average 5.5 territories each) | 2 | 33,975 | 33,975 | 15,239 | 52,711 | Calendar year 2025 | 46 |

| Gross Revenue | 4th-year-and-later franchisees (2025), per franchisee (8 owners; average 6.8 territories each) | 8 | 70,444 | 66,166 | 4,352 | 161,453 | Calendar year 2025 | 46 |

| Average Job Size | All franchisees operating all of 2025 (system wide), per franchisee (18 owners; average 5.1 territories each) | 18 | 1,655.5 | 1,610 | 435 | 3,590 | Calendar year 2025 | 46 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 92 | 32 | 3 | not disclosed | not disclosed | not disclosed | not disclosed | 118 |

| 2024 | 118 | 3 | 0 | 0 | 0 | 0 | not disclosed | 121 |

| 2025 | 121 | 1 | 5 | 0 | 0 | 12 | not disclosed | 105 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 30,108
- investment_midpoint_usd: 53,325
- revenue_to_investment: not disclosed
- royalty_pct: 8

- revenue_per_royalty_point_usd: 3,764



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 36,200 | 4 | 62 | 99,902.5 | lowest first | Outdoor |
| fee_low | 10,000 | 4 | 62 | 40,000 | lowest first | Outdoor |

| royalty | 8 | 34 | 54 | 7 | lowest first | Outdoor |

| allin | 10 | 33 | 54 | 9 | lowest first | Outdoor |

| outlets | 128 | 19 | 60 | 60 | highest first | Outdoor |

| growth | 8.5 | 15 | 39 | 4.6 | highest first | Outdoor |

| closure | 6.9 | 25 | 40 | 5.3 | lowest first | Outdoor |



## Similar alternatives (closest first)

1. The Decor Group / Christmas Decor (same industry; investment from $38,750)

2. Mosquito Authority (same industry; investment from $39,000)

3. Premier Pool Service / Pinnacle Pool Service (same industry; investment from $43,150)

4. DryJect (same industry; investment from $46,100)

5. Outdoor Lighting Concepts (same industry; investment from $48,000)

6. Pacific Lawn Sprinklers (same industry; investment from $23,800)

7. Superior Mosquito Defense® (same industry; investment from $17,400)

8. NaturaLawn of America (same industry; investment from $57,500)

9. Premier Pools & Spas / Pinnacle Pools and Spas (same industry; investment from $58,950)

10. Augusta Lawn Care (same industry; investment from $60,500)





---



# Discovery Map



- Brand slug: discovery-map

- Legal name: Discovery Map International, Inc

- Industry: B2B Supplies

- FDD year: 2025 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/discovery-map/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 25,000
- initial_fee_high_usd: 25,000

- royalty_pct: 10
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 1

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: not disclosed

- total_investment_low_usd: 29,250
- total_investment_high_usd: 36,300

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Royalty 10% of printed advertising, 25% of website ads. Advertising 1% of gross sales. DPS fee $2,200/year.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 116
- franchised_outlets: 116

- company_outlets: 0
- states_count: 28

- closure_rate_pct: 4.1

- closures: 14

- closures_not_itemized: 0

- reacquired: 1

- franchised_outlet_years: 345

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: -1.7
- growth_outlets_from: 118
- growth_outlets_to: 116
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 11

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 53,210

- basis: median, franchises publishing map in fiscal year ending September 30, 2025, completed selling cycle, standard sizes (102 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Gross Sales (Average Sales per Map) | franchises publishing map in fiscal year ending September 30, 2025, completed selling cycle, standard sizes | 102 | 58,171 | 53,210 | 10,430 | 214,930 | fiscal year ending September 30, 2025 | 33 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 114 | 2 | 2 | 0 | 1 | 0 | 15 | 113 |

| 2024 | 113 | 11 | 5 | 1 | 0 | 0 | 10 | 118 |

| 2025 | 118 | 4 | 6 | 0 | 0 | 0 | 6 | 116 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 53,210
- investment_midpoint_usd: 32,775
- revenue_to_investment: not disclosed
- royalty_pct: 10

- revenue_per_royalty_point_usd: 5,321



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 29,250 | 18 | 70 | 78,025 | lowest first | B2B Supplies |
| fee_low | 25,000 | 24 | 65 | 35,900 | lowest first | B2B Supplies |

| royalty | 10 | 36 | 47 | 7 | lowest first | B2B Supplies |

| allin | 11 | 38 | 47 | 7.5 | lowest first | B2B Supplies |

| outlets | 116 | 21 | 68 | 41.5 | highest first | B2B Supplies |

| growth | -1.7 | 26 | 44 | 0 | highest first | B2B Supplies |

| closure | 4.1 | 13 | 40 | 6.55 | lowest first | B2B Supplies |



## Similar alternatives (closest first)

1. Coastal Angler Magazine (same industry; investment from $28,975)

2. AmSpirit (same industry; investment from $21,400)

3. City Lifestyle (same industry; investment from $37,600)

4. RedKnight (same industry; investment from $17,900)

5. Dealer Specialties International (same industry; investment from $17,400)

6. Unishippers (same industry; investment from $17,365)

7. Schmidt (same industry; investment from $44,743)

8. Sculpture Hospitality (same industry; investment from $45,500)

9. Network Lead Exchange (same industry; investment from $12,450)

10. City Publications (same industry; investment from $46,300)





---



# Dogtopia



- Brand slug: dogtopia

- Legal name: Better Together, LLC

- Industry: Pet Services

- FDD year: 2026 (WI)

- Source: https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=641000&hash=115475975&search=external&type=GENERAL

- FranchiseDepth page: https://franchisedepth.com/franchise/dogtopia/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 40,095
- initial_fee_high_usd: 49,500

- royalty_pct: 7
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 2

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 899

- total_investment_low_usd: 664,355
- total_investment_high_usd: 1,478,820

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Standard fee $49,500; 10% multi-unit discount to $44,550; veteran discount: $44,550 first Center or $40,095 subsequent Center. REAFC Fee additional $15,500-$44,500 depending on conversion/ownership status. Pre-opening tech fee $250/month; microsite setup $700 one-time.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 266
- franchised_outlets: 225

- company_outlets: 41
- states_count: 37

- closure_rate_pct: 0.7

- closures: 4

- closures_not_itemized: 0

- reacquired: 2

- franchised_outlet_years: 599

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: 9
- growth_outlets_from: 244
- growth_outlets_to: 266
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 9

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 915,213

- basis: median, Franchised Stores, open 24+ months as of 12/27/2025 (169 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| 2025 Gross Sales for All Qualifying Outlets – All Outlet Types | All Qualifying Outlets (Franchised + Company & Affiliated), open 24+ months as of 12/27/2025 | 202 | 935,548 | 921,160 | 295,287 | 2,153,303 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales for Franchised Qualifying Outlets – All | Franchised Stores, open 24+ months as of 12/27/2025 | 169 | 927,566 | 915,213 | 295,287 | 1,876,551 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales for Company & Affiliated Qualifying Outlets – All | Company & Affiliated Stores, open 24+ months as of 12/27/2025 | 33 | 976,425 | 937,399 | 565,111 | 2,153,303 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales – Franchised Operating 24 to 36 Months | Franchised Stores Operating 24 to 36 Months | 26 | 861,559 | 838,627 | 378,182 | 1,362,555 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales – Franchised Operating 36+ Months | Franchised Stores Operating 36+ Months | 143 | 939,567 | 920,536 | 295,287 | 1,876,551 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales – All Outlets Operating 24 to 36 Months | All Outlets (Franchised + Company & Affiliated) Operating 24 to 36 Months | 28 | 843,049 | 820,238 | 378,182 | 1,362,555 | 2025 fiscal year (ended December 27, 2025) | 64 |

| 2025 Gross Sales – All Outlets Operating 36+ Months | All Outlets (Franchised + Company & Affiliated) Operating 36+ Months | 174 | 950,433 | 928,292 | 295,287 | 2,153,303 | 2025 fiscal year (ended December 27, 2025) | 64 |

| Net Operating Margin – All Qualifying Outlets (Table 6) | All Qualifying Outlets – Franchised + Company & Affiliated (134 outlets) | 134 | 19.2 | 18.9 | -39.4 | 51.4 | 2025 fiscal year (ended December 27, 2025) | 63 |

| Net Operating Margin – All Franchised Qualifying Outlets (Table 6a) | All Franchised Qualifying Outlets (101 outlets) | 101 | 18.5 | 19.4 | -36 | 51.4 | 2025 fiscal year (ended December 27, 2025) | 63 |

| Net Operating Margin – Franchised $0-$900,000 Sales Bracket (Table 6a) | Franchised Stores with $0-$900,000 Annual Gross Sales (2025) | 34 | 9.3 | 14.7 | -36 | 29.1 | 2025 fiscal year (ended December 27, 2025) | 63 |

| Net Operating Margin – Franchised $900,000-$1,000,000 Sales Bracket (Table 6a) | Franchised Stores with $900,000-$1,000,000 Annual Gross Sales (2025) | 13 | 14.7 | 16.9 | -4.1 | 32.6 | 2025 fiscal year (ended December 27, 2025) | 63 |

| Net Operating Margin – Franchised $1,000,000-$1,500,000 Sales Bracket (Table 6a) | Franchised Stores with $1,000,000-$1,500,000 Annual Gross Sales (2025) | 52 | 21.7 | 21.2 | 5.6 | 51.4 | 2025 fiscal year (ended December 27, 2025) | 63 |

| Net Operating Margin – Franchised $1,500,000+ Sales Bracket (Table 6a) | Franchised Stores with $1,500,000+ Annual Gross Sales (2025) | 2 | 28.6 | 28.7 | 21.4 | 36 | 2025 fiscal year (ended December 27, 2025) | 63 |

| 2025 Gross Sales – Franchised Bottom 25% by Sales (Table 9a) | Franchised Stores Bottom 25% by 2025 Gross Sales | 42 | 555,451 | 588,558 | 295,287 | 698,476 | 2025 fiscal year (ended December 27, 2025) | 65 |

| 2025 Gross Sales – Franchised Next 25% (26-50th pct) by Sales (Table 9a) | Franchised Stores Next 25% (26th-50th percentile) by 2025 Gross Sales | 42 | 800,345 | 792,896 | 698,950 | 910,959 | 2025 fiscal year (ended December 27, 2025) | 65 |

| 2025 Gross Sales – Franchised Next 25% (51-75th pct) by Sales (Table 9a) | Franchised Stores Next 25% (51st-75th percentile) by 2025 Gross Sales | 42 | 1,013,135 | 1,002,715 | 915,213 | 1,130,574 | 2025 fiscal year (ended December 27, 2025) | 65 |

| 2025 Gross Sales – Franchised Top 25% by Sales (Table 9a) | Franchised Stores Top 25% by 2025 Gross Sales | 43 | 1,331,715 | 1,312,781 | 1,132,640 | 1,876,551 | 2025 fiscal year (ended December 27, 2025) | 65 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 174 | 33 | 0 | 0 | 2 | 0 | not disclosed | 205 |

| 2024 | 205 | 15 | 0 | 0 | 0 | 0 | not disclosed | 220 |

| 2025 | 220 | 9 | 2 | 0 | 0 | 2 | not disclosed | 225 |



## Agreement terms (Item 17)

- term_years: 10
- renewal_count: 1

- renewal_term_years: 10

- renewal_fee: You must: not be in default; give us timely notice; have substantially complied with the Franchise Agreement; sign then-current form of franchise agreement; sign general release (subject to state law); pay renewal fee; remodel Center and upgrade furniture, fixtures and equipment to current standards; complete refresher training (if we require it); and extend lease for duration of renewal term.
- transfer_fee: You must: submit transfer application; be in compliance with Franchise Agreement; assign lease, if applicable; pay transfer fee; subordinate transferee's ongoing payments owed to you (if any) to transferee's financial obligations owed to us; and sign general release (subject to state law).

- cure_period_days: 30

- noncompete_post_term_years: 2
- noncompete_post_term_radius_miles: 15
- dispute_resolution: mediation

- governing_law_state: AZ

- fdd_page: 56

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 915,213

- investment_midpoint_usd: 1,071,587

- revenue_to_investment: 0.85

- royalty_pct: 7
- revenue_per_royalty_point_usd: 130,745

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 664,355 | 13 | 17 | 470,000 | lowest first | Daycare & Boarding |

| fee_low | 40,095 | 7 | 17 | 49,000 | lowest first | Daycare & Boarding |
| royalty | 7 | 12 | 17 | 6 | lowest first | Daycare & Boarding |
| allin | 9 | 13 | 17 | 8 | lowest first | Daycare & Boarding |
| outlets | 266 | 1 | 16 | 12.5 | highest first | Daycare & Boarding |
| growth | 9 | 17 | 28 | 12.65 | highest first | Pet Services |
| closure | 0.7 | 5 | 27 | 2.8 | lowest first | Pet Services |

## Similar alternatives (closest first)
1. Hounds Town USA (same sub-category; investment from $667,610)
2. All American Pet Resorts (same sub-category; investment from $687,500)
3. District Dogs (same sub-category; investment from $622,225)
4. Camp Run-A-Mutt (same sub-category; investment from $588,900)
5. A Dog's Day Out (same sub-category; investment from $749,750)
6. Central Bark (same sub-category; investment from $522,474)
7. DoggieWorld (same sub-category; investment from $470,000)
8. Camp Bow Wow (same sub-category; investment from $954,606)
9. Dogdrop (same sub-category; investment from $356,050)
10. Playful Pack (same sub-category; investment from $286,250)


---

# ERA Group

- Brand slug: era-group
- Legal name: Expense Reduction Analysts, Inc.
- Industry: B2B Supplies
- FDD year: 2026 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/era-group/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 64,900

- initial_fee_high_usd: 69,900
- royalty_pct: 15

- royalty_min_monthly_usd: 1,051.65
- marketing_fee_pct: 3
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 142.5
- total_investment_low_usd: 76,000

- total_investment_high_usd: 105,900
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Base fee is $69,900. VetFran® qualified veterans receive $5,000 discount ($64,900). Additional training fee: $10,000 per additional/substitute owner; $5,000 if spouse or immediate family member. Minimum Royalty Fee $1,051.65 per month for the first 36 months, then $1,314.56 per month for the rest of the initial term. Technology Fee $142.50 per month for the first 18 months, then $285 per month. National Conference Registration Fee currently $1,314.56 per attendee, payable in monthly installments whether or not you attend.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 196

- franchised_outlets: 196
- company_outlets: 0

- states_count: 25
- closure_rate_pct: 7.7
- closures: 34
- closures_not_itemized: 0
- reacquired: 2
- franchised_outlet_years: 441
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: 34.2

- growth_outlets_from: 146

- growth_outlets_to: 196

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 18
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 268,982
- basis: median, All Full-Time Regional Franchisees (18+ months operating) (86 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Net Cumulative Receipts | Top 25% (1st Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating | 22 | 900,566 | 734,102 | 510,989 | 2,998,404 | 2025 calendar year | not disclosed |
| Net Cumulative Receipts | 25-50% (2nd Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating | 21 | 356,457 | 341,597 | 261,053 | 468,148 | 2025 calendar year | not disclosed |
| Net Cumulative Receipts | 50-75% (3rd Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating | 21 | 208,279 | 202,622 | 151,816 | 257,796 | 2025 calendar year | not disclosed |
| Net Cumulative Receipts | Bottom 25% (4th Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating | 22 | 55,355 | 60,644 | 0 | 115,984 | 2025 calendar year | not disclosed |
| Net Cumulative Receipts | All Full-Time Regional Franchisees (18+ months operating) | 86 | 388,180 | 268,982 | 0 | 2,998,404 | 2025 calendar year | not disclosed |
| Net Cumulative Receipts | Part-Time Regional Franchisees (18+ months operating) | 51 | 30,939 | 109 | 0 | 436,063 | 2025 calendar year | not disclosed |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 136 | 23 | 6 | 0 | 2 | 7 | not disclosed | 144 |
| 2024 | 144 | 30 | 12 | 1 | 0 | 0 | not disclosed | 161 |
| 2025 | 161 | 43 | 8 | 0 | 0 | 0 | not disclosed | 196 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 268,982

- investment_midpoint_usd: 90,950

- revenue_to_investment: 2.96

- royalty_pct: 15
- revenue_per_royalty_point_usd: 17,932

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 76,000 | 35 | 70 | 78,025 | lowest first | B2B Supplies |

| fee_low | 64,900 | 61 | 65 | 35,900 | lowest first | B2B Supplies |
| royalty | 15 | 41 | 47 | 7 | lowest first | B2B Supplies |
| allin | 18 | 44 | 47 | 7.5 | lowest first | B2B Supplies |
| outlets | 196 | 14 | 68 | 41.5 | highest first | B2B Supplies |
| growth | 34.2 | 3 | 44 | 0 | highest first | B2B Supplies |
| closure | 7.7 | 23 | 40 | 6.55 | lowest first | B2B Supplies |

## Similar alternatives (closest first)
1. Complete Mobile Drug Testing (same industry; investment from $72,350)
2. Gasket Guy (same industry; investment from $80,050)
3. World Options (same industry; investment from $81,100)
4. Instant Imprints (same industry; investment from $82,800)
5. TownePost (same industry; investment from $83,350)
6. Locals Love Us (same industry; investment from $66,750)
7. InXpress (same industry; investment from $86,900)
8. Money Mailer (same industry; investment from $64,630)
9. Runningboards Marketing (same industry; investment from $87,400)
10. Our Town America (same industry; investment from $64,399)


---

# Gymguyz

- Brand slug: gymguyz
- Legal name: GYMGUYZ Franchising LLC
- Industry: Fitness & Wellness
- FDD year: 2025 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/gymguyz/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 49,500

- initial_fee_high_usd: 49,500
- royalty_pct: 7

- royalty_min_monthly_usd: 650
- marketing_fee_pct: 2
- marketing_min_monthly_usd: 87

- tech_fee_monthly_usd: 643
- total_investment_low_usd: 92,100

- total_investment_high_usd: 174,000
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Base fee for 30,000-household territory. Additional $1.50/household for territories exceeding 30,000 (capped at 15,000 additional households). Discounts: $5,000 off for 2nd/3rd franchises or honorably discharged veterans (non-stackable). Excludes $11,500–$31,500 initial marketing fund and $0–$2,500 launch fund fee. Technology fee shown totals the $50 per two-week Technology Fee for a single unit (about $108 per month), the $375 per month POS System Fee (Mindbody), the $125 per month Microsite Fee (not to exceed $200 per microsite) and the $35 per month Hiring Platform Fee (plus tax), all paid to the franchisor. Search Engine Optimization Fee is $318 per month, paid to the franchisor. Telemarketing Fee is $299 per month, paid to the franchisor. VOIP Fee is $69 per month per line, paid to the franchisor. Social Media Posting Platform fee is currently $35 to $50 per month, not to exceed $100. The GYMGUYZ Training Application ($90 per month) is optional.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 130

- franchised_outlets: 116
- company_outlets: 16

- states_count: 21
- closure_rate_pct: 11.6
- closures: 36
- closures_not_itemized: 0
- reacquired: 14
- franchised_outlet_years: 311
- closure_year_from: 2022
- closure_year_to: 2024
- closure_ranking_eligible: yes
- growth_pct: 33.3

- growth_outlets_from: 99

- growth_outlets_to: 132

- growth_year_from: 2022

- growth_year_to: 2024

- growth_ranking_eligible: yes

- all_in_fee_pct: 9
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 130,644
- basis: median, 85 franchised outlets (85 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Gross Sales | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 409,731.67 | not disclosed | not disclosed | not disclosed | 2024 | 44 |
| Gross Profit Less Disclosed Expenses | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 193,891.33 | not disclosed | not disclosed | not disclosed | 2024 | 45 |
| Gross Profit Less Disclosed Expenses / Franchisee Related Expenses | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 160,712.67 | not disclosed | not disclosed | not disclosed | 2024 | 45 |
| Gross Sales | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 296,284.67 | not disclosed | not disclosed | not disclosed | 2023 | 44 |
| Gross Sales | 85 franchised outlets | 85 | 106,507.4 | 130,644 | 0 | 835,964 |  | not disclosed |
| Average Gross Sales per FTE Trainer | 85 franchised outlets (51 FTE trainers aggregate) | 85 | 161,701.68 | not disclosed | not disclosed | not disclosed |  | not disclosed |
| Gross Profit Less Disclosed Expenses | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 154,592 | not disclosed | not disclosed | not disclosed | 2023 | 45 |
| Gross Profit Less Disclosed Expenses / Franchisee Related Expenses | Affiliate Owned Locations (3 units, Long Island, NY) | 3 | 130,489.33 | not disclosed | not disclosed | not disclosed | 2023 | 45 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2022 | 95 | 15 | 0 | 0 | 0 | 13 | 3 | 97 |
| 2023 | 97 | 26 | 0 | 0 | 0 | 4 | 6 | 119 |
| 2024 | 119 | 30 | 13 | 0 | 14 | 6 | 3 | 116 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 130,644

- investment_midpoint_usd: 133,050

- revenue_to_investment: 0.98

- royalty_pct: 7
- revenue_per_royalty_point_usd: 18,663

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 92,100 | 7 | 52 | 253,425 | lowest first | Boutique Group Fitness |

| fee_low | 49,500 | 38 | 53 | 40,000 | lowest first | Boutique Group Fitness |
| royalty | 7 | 24 | 50 | 7 | lowest first | Boutique Group Fitness |
| allin | 9 | 27 | 50 | 8.5 | lowest first | Boutique Group Fitness |
| outlets | 132 | 11 | 53 | 30 | highest first | Boutique Group Fitness |
| growth | 33.3 | 3 | 23 | -10.5 | highest first | Boutique Group Fitness |
| closure | 11.6 | 14 | 23 | 11.1 | lowest first | Boutique Group Fitness |

## Similar alternatives (closest first)
1. Fly to Fit Bungee Fitness Studio (same sub-category; investment from $94,200)
2. Special Strong (same sub-category; investment from $89,750)
3. ServiceRX (same sub-category; investment from $64,175)
4. Club KO (same sub-category; investment from $127,962)
5. A.E.S. Fitness (same sub-category; investment from $55,950)
6. Soldierfit (same sub-category; investment from $136,684)
7. Farrell's eXtreme Bodyshaping (same sub-category; investment from $151,028)
8. 9Round (same sub-category; investment from $160,449)
9. Moms on the RUN (same sub-category; investment from $13,900)
10. Fit4mom (same sub-category; investment from $8,245)


---

# Hand and Stone Massage and Facial Spa

- Brand slug: hand-and-stone-massage-and-facial-spa
- Legal name: HAND AND STONE FRANCHISE LLC
- Industry: Fitness & Wellness
- FDD year: 2026 (WI)
- Source: https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=640845&hash=2025006140&search=external&type=GENERAL
- FranchiseDepth page: https://franchisedepth.com/franchise/hand-and-stone-massage-and-facial-spa/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 49,500

- initial_fee_high_usd: 49,500
- royalty_pct: 6

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 1
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 761
- total_investment_low_usd: 320,891

- total_investment_high_usd: 864,729
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Standard new franchisee fee is $49,500; existing franchisee additional units $39,500; VetFran 20% discount applies. In 2025 a conversion program waived fees for select conversions so fees ranged $0-$49,500. Area development minimum 3-spa package total $103,500 standard ($34,500/spa).

## Outlets, closure rate, growth and all-in fee
- total_outlets: 615

- franchised_outlets: 600
- company_outlets: 15

- states_count: 38
- closure_rate_pct: 0.6
- closures: 9
- closures_not_itemized: 0
- reacquired: 1
- franchised_outlet_years: 1594
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: 13.5

- growth_outlets_from: 542

- growth_outlets_to: 615

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 7
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 1,236,266
- basis: median, 570 Franchised Outlets open 12 months or more, Calendar Year 2025 (570 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Average Gross Sales — Corporate Spas Total | 15 Corporate Spas open 12 months or more, Calendar Year 2025 | 15 | 2,281,726 | 2,407,611 | 1,197,779 | 3,259,296 | 2025 calendar year | not disclosed |
| Average Gross Sales — Corporate Spas Top 25% | Top 25% of 15 Corporate Spas, Calendar Year 2025 | 4 | 3,033,222 | 3,087,976 | 2,697,639 | 3,259,296 | 2025 calendar year | not disclosed |
| Average Gross Sales — Corporate Spas Second 25% | Second 25% of 15 Corporate Spas, Calendar Year 2025 | 3 | 2,543,674 | 2,520,398 | 2,467,475 | 2,643,151 | 2025 calendar year | not disclosed |
| Average Gross Sales — Corporate Spas Third 25% | Third 25% of 15 Corporate Spas, Calendar Year 2025 | 4 | 2,081,525 | 2,084,771 | 1,748,946 | 2,407,611 | 2025 calendar year | not disclosed |
| Average Gross Sales — Corporate Spas Bottom 25% | Bottom 25% of 15 Corporate Spas, Calendar Year 2025 | 4 | 1,533,971 | 1,621,564 | 1,197,779 | 1,694,979 | 2025 calendar year | not disclosed |
| Average Gross Sales — Franchised Outlets Total | 570 Franchised Outlets open 12 months or more, Calendar Year 2025 | 570 | 1,334,936 | 1,236,266 | 145,813 | 4,394,479 | 2025 calendar year | not disclosed |
| Average Gross Sales — Franchised Outlets Top 25% | Top 25% of 570 Franchised Outlets, Calendar Year 2025 | 135 | 2,277,452 | 2,111,067 | 1,720,132 | 4,394,479 | 2025 calendar year | not disclosed |
| Average Gross Sales — Franchised Outlets Second 25% | Second 25% of 570 Franchised Outlets, Calendar Year 2025 | 143 | 1,469,435 | 1,466,559 | 1,264,389 | 1,719,338 | 2025 calendar year | not disclosed |
| Average Gross Sales — Franchised Outlets Third 25% | Third 25% of 570 Franchised Outlets, Calendar Year 2025 | 145 | 1,042,031 | 1,040,113 | 853,658 | 1,264,274 | 2025 calendar year | not disclosed |
| Average Gross Sales — Franchised Outlets Bottom 25% | Bottom 25% of 570 Franchised Outlets, Calendar Year 2025 | 147 | 627,439 | 633,540 | 145,813 | 853,147 | 2025 calendar year | not disclosed |
| Average Gross Sales — All Outlets Total | 585 outlets (570 franchised + 15 corporate) open 12 months or more, Calendar Year 2025 | 585 | 1,359,212 | 1,264,274 | 145,813 | 4,394,479 | 2025 calendar year | not disclosed |
| Average Massage Service Sales — Franchised Outlets Total | 570 Franchised Outlets open 12 months or more, Calendar Year 2025 | 570 | 795,502 | 715,529 | 63,797 | 2,186,824 | 2025 calendar year | not disclosed |
| Average Facial Service Sales — Franchised Outlets Total | 570 Franchised Outlets open 12 months or more, Calendar Year 2025 | 570 | 351,588 | 319,108 | 240 | 1,590,921 | 2025 calendar year | not disclosed |
| Average Product Sales — Franchised Outlets Total | 570 Franchised Outlets open 12 months or more, Calendar Year 2025 | 570 | 49,223 | 41,822 | 268 | 299,133 | 2025 calendar year | not disclosed |
| Average Gift Card Sales — Franchised Outlets Total | 570 Franchised Outlets open 12 months or more, Calendar Year 2025 | 570 | 146,413 | 126,483 | 21,754 | 725,828 | 2025 calendar year | not disclosed |
| Table 6b Gross Sales — Franchised Outlets with Expenses Total | 134 of 600 Franchised Outlets reporting expenses, Calendar Year 2025 | 134 | 1,402,246 | 1,280,006 | 392,276 | 4,394,479 | 2025 calendar year | not disclosed |
| Labor and Benefit Costs — Franchised Outlets Total (Table 6b) | 134 Franchised Outlets reporting expenses, Calendar Year 2025 | 134 | 704,996 | 617,112 | 237,633 | 2,198,568 | 2025 calendar year | not disclosed |
| Occupancy Costs — Franchised Outlets Total (Table 6b) | 134 Franchised Outlets reporting expenses, Calendar Year 2025 | 134 | 140,089 | 138,203 | 60,985 | 248,269 | 2025 calendar year | not disclosed |
| Table 6a Gross Sales — Corporate Spas Total | 15 Corporate Spas, Calendar Year 2025 | 15 | 2,281,726 | 2,407,611 | 1,197,779 | 3,259,296 | 2025 calendar year | not disclosed |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 487 | 43 | 2 | 0 | 1 | 0 | not disclosed | 527 |
| 2024 | 527 | 55 | 0 | 0 | 0 | 2 | not disclosed | 580 |
| 2025 | 580 | 25 | 4 | 0 | 0 | 1 | not disclosed | 600 |

## Agreement terms (Item 17)
- term_years: 10

- renewal_count: 1
- renewal_term_years: 10
- renewal_fee: renewal fee of equal to 25% of then current initial franchise fee

- transfer_fee: transfer fee equal to 50% of the then current initial franchise fee
- cure_period_days: 30
- noncompete_post_term_years: 2

- noncompete_post_term_radius_miles: 10

- dispute_resolution: mediation
- governing_law_state: PA
- fdd_page: 46



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 1,236,266
- investment_midpoint_usd: 592,810
- revenue_to_investment: 2.09
- royalty_pct: 6

- revenue_per_royalty_point_usd: 206,044



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 320,891 | 5 | 13 | 476,459 | lowest first | Massage & Facial Spa |
| fee_low | 49,500 | 9 | 13 | 40,000 | lowest first | Massage & Facial Spa |

| royalty | 6 | 3 | 13 | 6 | lowest first | Massage & Facial Spa |

| allin | 7 | 3 | 13 | 7.75 | lowest first | Massage & Facial Spa |

| outlets | 615 | 2 | 13 | 64 | highest first | Massage & Facial Spa |

| growth | 13.5 | 3 | 9 | 5.8 | highest first | Massage & Facial Spa |

| closure | 0.6 | 4 | 9 | 1 | lowest first | Massage & Facial Spa |



## Similar alternatives (closest first)

1. Viyada Thai SPA (same sub-category; investment from $311,400)

2. LaVida Massage (same sub-category; investment from $293,250)

3. Cloud 9 Foot Spa (same sub-category; investment from $262,450)

4. Massage Heights (same sub-category; investment from $472,199)

5. The NOW (same sub-category; investment from $476,459)

6. Spavia (same sub-category; investment from $495,800)

7. Brilliant Massage & Skin (same sub-category; investment from $120,767)

8. Elements Massage (same sub-category; investment from $567,239)

9. MassageLuXe (same sub-category; investment from $570,900)

10. Heyday (same sub-category; investment from $574,000)





---



# Huntington Learning Centers



- Brand slug: huntington-learning-centers

- Legal name: Huntington Learning Centers Inc.

- Industry: Education

- FDD year: 2026 (WI)

- Source: https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=641005&hash=1553927880&search=external&type=GENERAL

- FranchiseDepth page: https://franchisedepth.com/franchise/huntington-learning-centers/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 42,000
- initial_fee_high_usd: 42,000

- royalty_pct: 9.5
- royalty_min_monthly_usd: 2,000

- marketing_fee_pct: 2

- marketing_min_monthly_usd: 500
- tech_fee_monthly_usd: 1,375

- total_investment_low_usd: 191,992
- total_investment_high_usd: 340,632

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Standard fee $42,000. Multi-unit discount to $27,000 for 2nd+ units. Veteran discount to $31,500. Transfer fee $10,000 (IFF waived). Renewal fee $8,000 (IFF waived). MicroSchool amendment initial fee $10,000. During 2025, charged between $0 and $36,000. Advertising minimum: you must spend at least $57,000 per year on Huntington Services and eTutoring, including at least $2,000 each month, on top of the 2% Advertising Fund. CoOp fees average about $2,000 per month and are credited toward the advertising minimum. Call Center $415 per month plus $34.47 to $76.50 per academic evaluation, required for the whole term. Conference Services $315 per month, credited against usage charges, required. Marketing Communication Program spend of at least $100 per month. Required accounting and payroll software from the designated vendor costs $125 to $165 per month.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 245
- franchised_outlets: 243

- company_outlets: 2
- states_count: 38

- closure_rate_pct: 5.8

- closures: 47

- closures_not_itemized: 0

- reacquired: 2

- franchised_outlet_years: 813

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: -12.2
- growth_outlets_from: 279
- growth_outlets_to: 245
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 11.5

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 533,106

- basis: median, 232 franchised HLCs open all of 2025 (Mature Centers) (232 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Gross Revenue | 232 franchised HLCs open all of 2025 (Mature Centers) | 232 | 609,454 | 533,106 | 136,567 | 3,093,560 | 2025 calendar year | 53 |

| Gross Revenue — Top 25% | Top 25% of 232 Mature Centers | 58 | 1,115,433 | 1,016,562 | 764,311 | 3,093,560 | 2025 calendar year | 53 |

| Gross Revenue — Mid-upper 25% | Mid-upper 25% of 232 Mature Centers | 58 | 646,065 | 635,442 | 533,308 | 759,290 | 2025 calendar year | 53 |

| Gross Revenue — Mid-lower 25% | Mid-lower 25% of 232 Mature Centers | 58 | 428,854 | 433,139 | 328,228 | 532,904 | 2025 calendar year | 53 |

| Gross Revenue — Bottom 25% | Bottom 25% of 232 Mature Centers | 58 | 247,465 | 242,341 | 136,567 | 327,440 | 2025 calendar year | 53 |

| Gross Revenue — Top half | Top half of 232 Mature Centers | 116 | 880,749 | 761,800 | 533,308 | 3,093,560 | 2025 calendar year | 54 |

| Gross Revenue — Bottom half | Bottom half of 232 Mature Centers | 116 | 338,159 | 327,834 | 136,567 | 532,904 | 2025 calendar year | 54 |

| Gross Revenue — $1M+ centers | 30 Mature Centers with Gross Revenue of $1,000,000 or more | 30 | 1,337,289 | 1,164,749 | not disclosed | not disclosed | 2025 calendar year | 52 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 280 | 4 | 10 | 0 | 1 | 0 | not disclosed | 273 |

| 2024 | 273 | 4 | 15 | 2 | 0 | 0 | not disclosed | 260 |

| 2025 | 260 | 4 | 17 | 3 | 1 | 0 | not disclosed | 243 |



## Agreement terms (Item 17)

- term_years: 10
- renewal_count: not disclosed

- renewal_term_years: 10

- renewal_fee: Pay a nonrefundable fee of $10,000 (if you have a Territory, the fee is greater).
- transfer_fee: You pay us a nonrefundable Transfer Fee of $1,000, plus our associated costs. (death/disability context; general transfer fee references 'Transfer Fee, our related costs, any related broker fees, and a Training and Technology Initial Fee' without a stated dollar amount)

- cure_period_days: 10

- noncompete_post_term_years: 2
- noncompete_post_term_radius_miles: 25
- dispute_resolution: mediation

- governing_law_state: DE

- fdd_page: 45

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 533,106

- investment_midpoint_usd: 266,312

- revenue_to_investment: 2

- royalty_pct: 9.5
- revenue_per_royalty_point_usd: 56,116

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 191,992 | 22 | 24 | 98,065 | lowest first | Academic Tutoring |

| fee_low | 42,000 | 16 | 24 | 32,250 | lowest first | Academic Tutoring |
| royalty | 9.5 | 9 | 18 | 9.75 | lowest first | Academic Tutoring |
| allin | 11.5 | 11 | 18 | 11 | lowest first | Academic Tutoring |
| outlets | 245 | 5 | 24 | 43.5 | highest first | Academic Tutoring |
| growth | -12.2 | 13 | 16 | -7.3 | highest first | Academic Tutoring |
| closure | 5.8 | 8 | 16 | 6.05 | lowest first | Academic Tutoring |

## Similar alternatives (closest first)
1. Prepaze Academy (same sub-category; investment from $154,000)
2. LearningRx (same sub-category; investment from $150,000)
3. Omega Learning Center (same sub-category; investment from $135,913)
4. Mathnasium (same sub-category; investment from $127,316)
5. Level UP Learning (same sub-category; investment from $126,265)
6. Sylvan Learning (same sub-category; investment from $117,600)
7. The Tutoring Center (same sub-category; investment from $114,420)
8. GradePower Learning (same sub-category; investment from $113,136)
9. Genius Kids (same sub-category; investment from $276,300)
10. Kumon (same sub-category; investment from $101,630)


---

# Liberty Tax Service

- Brand slug: liberty-tax-service
- Legal name: JTH Tax LLC
- Industry: Tax & Financial
- FDD year: 2026 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/liberty-tax-service/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 25,000

- initial_fee_high_usd: 25,000
- royalty_pct: 14

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 5
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: not disclosed
- total_investment_low_usd: 49,700

- total_investment_high_usd: 71,400
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Standard fee $25,000. Franchisor has offered franchises at reduced rates, including $0 in company store purchase programs. Royalty of 14% of Gross Receipts is subject to annual minimums: no minimum in year 1, $5,000 in year 2, $8,000 in year 3 and $11,000 in years 4 and 5. Any shortfall to the minimum is due May 5 for the twelve months ending April 30.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 1,663

- franchised_outlets: 1,537
- company_outlets: 126

- states_count: 51
- closure_rate_pct: 8.7
- closures: 478
- closures_not_itemized: 0
- reacquired: 55
- franchised_outlet_years: 5490
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: -11.8

- growth_outlets_from: 1,885

- growth_outlets_to: 1,663

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 19
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 139,486
- basis: median, 1,411 franchise-owned Liberty Tax offices operated during tax season 2025 and remained active into tax season 2026 (1,411 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Net Fees | 1,411 franchise-owned Liberty Tax offices operated during tax season 2025 and remained active into tax season 2026 | 1,411 | 164,860 | 139,486 | 5,306 | 1,145,331 | Tax season 2025 (January 1 - December 31, 2025) | not disclosed |
| Returns (Federal Tax Returns transmitted) | 1,411 franchise-owned Liberty Tax offices operated during tax season 2025 and remained active into tax season 2026 | 1,411 | 586 | 494 | 25 | 4,729 | Tax season 2025 (January 1 - December 31, 2025) | not disclosed |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 1,991 | 23 | 119 | 30 | 0 | 52 | not disclosed | 1,813 |
| 2024 | 1,813 | 34 | 73 | 38 | 12 | 38 | not disclosed | 1,686 |
| 2025 | 1,686 | 22 | 62 | 38 | 43 | 28 | not disclosed | 1,537 |

## Agreement terms (Item 17)
- term_years: 5

- renewal_count: not disclosed
- renewal_term_years: 5
- renewal_fee: There is no fee for renewal but you must sign a general release of claims (Ex. D-4), at our request, remodel, refurbish, and modernize your franchised business, notify us in writing at least 180 days before the expiration of the agreement, be in full compliance with your Franchise Agreement and our Operations Manual and you will be required to sign our then-current standard franchise agreement 90 days before expiration of the agreement that may contain materially different terms and conditions t

- transfer_fee: You must be in compliance with the franchise agreement, pay transfer fees, sign a release (Ex. D-4), we must approve transferee, we have right of first refusal and transferee must attend and successfully complete training, transferee must agree to fully and timely complete a remodeling, refurbishing, and modernizing of the franchised business within 90 days following the completion of the transfer.
- cure_period_days: 7
- noncompete_post_term_years: 2

- noncompete_post_term_radius_miles: 25

- dispute_resolution: arbitration
- governing_law_state: VA
- fdd_page: 55



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 139,486
- investment_midpoint_usd: 60,550
- revenue_to_investment: not disclosed
- royalty_pct: 14

- revenue_per_royalty_point_usd: 9,963



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 49,700 | 18 | 52 | 59,350 | lowest first | Tax & Financial |
| fee_low | 25,000 | 17 | 51 | 29,500 | lowest first | Tax & Financial |

| royalty | 14 | 22 | 34 | 10 | lowest first | Tax & Financial |

| allin | 19 | 26 | 34 | 12 | lowest first | Tax & Financial |

| outlets | 1,663 | 4 | 52 | 78 | highest first | Tax & Financial |

| growth | -11.8 | 32 | 38 | -1.15 | highest first | Tax & Financial |

| closure | 8.7 | 24 | 36 | 6.15 | lowest first | Tax & Financial |



## Similar alternatives (closest first)

1. Atax (same sub-category; investment from $59,150)

2. H&R Block (same sub-category; investment from $34,080)

3. Jackson Hewitt Tax Service (same sub-category; investment from $71,050)

4. Toro Taxes (same sub-category; investment from $17,835)

5. Estrella Insurance (same industry; investment from $49,950)

6. Decimal (same industry; investment from $46,300)

7. Loyalty Business Brokers (same industry; investment from $53,350)

8. Co/LAB (same industry; investment from $54,750)

9. Motto Mortgage (same industry; investment from $55,700)

10. Brightway Insurance (same industry; investment from $43,425)





---



# Mathnasium



- Brand slug: mathnasium

- Legal name: Mathnasium Franchisor LLC

- Industry: Education

- FDD year: 2026 (WI)

- Source: https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=641614&hash=1383796229&search=external&type=GENERAL

- FranchiseDepth page: https://franchisedepth.com/franchise/mathnasium/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 49,000
- initial_fee_high_usd: 49,000

- royalty_pct: 10
- royalty_min_monthly_usd: 1,500

- marketing_fee_pct: 2

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 266

- total_investment_low_usd: 127,316
- total_investment_high_usd: 165,846

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Standard first-franchise fee $49,000; additional franchise or Center Director discount $26,500; transferee fee $7,000 (may be waived); veteran/educator discount 25% off first-center fee; development fee $75,500-$129,000 for 2-5 centers credited toward franchise fees. In 2025, fees paid ranged $0-$49,000. Royalty is 10% of monthly Gross Receipts; beginning in the 24th month of operation it is the greater of 10% or $1,500 per month. A Base Royalty of $650 per month is also payable, beginning 6 months after signing. Monthly Marketing Fee is $250 plus 2% of monthly Gross Receipts. A Digital and Local Marketing Fee of at least $1,000 per month is paid to the franchisor and credited against the local marketing requirement.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 1,047
- franchised_outlets: 1,043

- company_outlets: 4
- states_count: 45

- closure_rate_pct: 2.1

- closures: 60

- closures_not_itemized: 0

- reacquired: 1

- franchised_outlet_years: 2914

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: 7.7
- growth_outlets_from: 972
- growth_outlets_to: 1,047
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 12

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 326,428

- basis: median, 914 franchised Mathnasium Centers open and operated by the same franchisee 12 months or longer as of December 31, 2025 (914 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Annual Gross Receipts | 914 franchised Mathnasium Centers open and operated by the same franchisee 12 months or longer as of December 31, 2025 | 914 | 384,874 | 326,428 | 66,925 | 1,511,770 | January 1 - December 31, 2025 | 60 |

| Annual Gross Receipts | Top 1/4 of 914 franchised Mathnasium Centers open 12+ months | 229 | 693,314 | 635,510 | 467,777 | 1,511,770 | January 1 - December 31, 2025 | 60 |

| Annual Gross Receipts | Mid-Upper 1/4 of 914 franchised Mathnasium Centers open 12+ months | 228 | 391,418 | 391,156 | 326,710 | 466,924 | January 1 - December 31, 2025 | 60 |

| Annual Gross Receipts | Mid-Lower 1/4 of 914 franchised Mathnasium Centers open 12+ months | 228 | 278,021 | 274,816 | 235,325 | 326,146 | January 1 - December 31, 2025 | 60 |

| Annual Gross Receipts | Bottom 1/4 of 914 franchised Mathnasium Centers open 12+ months | 229 | 176,306 | 182,523 | 66,925 | 234,408 | January 1 - December 31, 2025 | 60 |

| Operating Profit | 914 franchised Mathnasium Centers (Covered Centers) open 12+ months with complete 2025 P&Ls | 914 | 117,000 | 111,630 | not disclosed | not disclosed | January 1 - December 31, 2025 | 61 |

| Annual Gross Receipts per center | Franchisees owning 1 Center (289 franchisees), centers open 36+ months under the same franchisee | 289 | 373,107 | 318,865 | 90,745 | 1,335,332 | January 1 - December 31, 2025 | 64 |

| Annual Gross Receipts per center | Franchisees owning 2 Centers (60 franchisees), centers open 36+ months under the same franchisee | 120 | 407,394 | 338,334 | 91,037 | 1,283,151 | January 1 - December 31, 2025 | 64 |

| Annual Gross Receipts per center | Franchisees owning 3-5 Centers (26 franchisees), centers open 36+ months under the same franchisee | 92 | 453,229 | 390,326 | 77,077 | 1,511,770 | January 1 - December 31, 2025 | 64 |

| Annual Gross Receipts per center | Franchisees owning 6+ Centers (14 franchisees), centers open 36+ months under the same franchisee | 158 | 467,965 | 419,572 | 122,948 | 1,387,460 | January 1 - December 31, 2025 | 64 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 951 | 43 | 0 | 0 | 1 | 25 | not disclosed | 968 |

| 2024 | 968 | 47 | 0 | 0 | 0 | 20 | not disclosed | 995 |

| 2025 | 995 | 63 | 0 | 0 | 0 | 15 | not disclosed | 1,043 |



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 326,428
- investment_midpoint_usd: 146,581
- revenue_to_investment: 2.23
- royalty_pct: 10

- revenue_per_royalty_point_usd: 32,643



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 127,316 | 18 | 24 | 98,065 | lowest first | Academic Tutoring |
| fee_low | 49,000 | 19 | 24 | 32,250 | lowest first | Academic Tutoring |

| royalty | 10 | 10 | 18 | 9.75 | lowest first | Academic Tutoring |

| allin | 12 | 12 | 18 | 11 | lowest first | Academic Tutoring |

| outlets | 1,047 | 2 | 24 | 43.5 | highest first | Academic Tutoring |

| growth | 7.7 | 2 | 16 | -7.3 | highest first | Academic Tutoring |

| closure | 2.1 | 4 | 16 | 6.05 | lowest first | Academic Tutoring |



## Similar alternatives (closest first)

1. Level UP Learning (same sub-category; investment from $126,265)

2. Omega Learning Center (same sub-category; investment from $135,913)

3. Sylvan Learning (same sub-category; investment from $117,600)

4. The Tutoring Center (same sub-category; investment from $114,420)

5. GradePower Learning (same sub-category; investment from $113,136)

6. LearningRx (same sub-category; investment from $150,000)

7. Kumon (same sub-category; investment from $101,630)

8. Prepaze Academy (same sub-category; investment from $154,000)

9. The Resource Room (same sub-category; investment from $94,500)

10. Tutor Doctor (same sub-category; investment from $94,295)





---



# Pet Supplies Plus



- Brand slug: pet-supplies-plus

- Legal name: PSP Franchise Operations SPV, LLC

- Industry: Pet Services

- FDD year: 2025 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/pet-supplies-plus/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 49,900
- initial_fee_high_usd: 49,900

- royalty_pct: 3
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 3.5

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: not disclosed

- total_investment_low_usd: 540,520
- total_investment_high_usd: 1,975,005

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Single fee of $49,900; waived for approved conversions. Existing franchisees pay $35,000 for 2nd+ stores. Employees pay $10,000. VetFran 20% discount; First Responder 10% discount. Multi-Unit Fee: $49,900 for first store + $35,000 per additional store. Royalty is 2% of monthly Gross Sales for the first 12 months of operation and 3% after. Advertising in the first 12 months of operation is a fixed $4,350 per month: $3,350 Local Marketing Spend plus $1,000 to the National Advertising Fund. After the first 12 months, the advertising contribution is the lesser of 3.5% of Gross Sales or $8,333 per month, with 2/3 directed to Local Marketing Spend (remitted to a third-party vendor) and 1/3 to the National Advertising Fund. Advertising contributions are capped at $100,000 per store per year. Technology Fee is estimated at $925–$1,200 per month based on store build-out. Point of Sale equipment must be leased from the franchisor at an estimated $265–$340 per month.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 735
- franchised_outlets: 502

- company_outlets: 233
- states_count: 40

- closure_rate_pct: 1.2

- closures: 16

- closures_not_itemized: 0

- reacquired: 4

- franchised_outlet_years: 1288

- closure_year_from: 2022

- closure_year_to: 2024

- closure_ranking_eligible: yes

- growth_pct: 11.4
- growth_outlets_from: 660
- growth_outlets_to: 735
- growth_year_from: 2022
- growth_year_to: 2024
- growth_ranking_eligible: yes
- all_in_fee_pct: 6.5

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 2,496,071

- basis: median, Average of All Stores (347 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Average Weekly Gross Sales | 1 Year | 37 | 32,566 | 32,467 | 18,428 | 62,080 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Weekly Gross Sales | 2 Years | 34 | 40,041 | 40,108 | 19,366 | 58,927 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Weekly Gross Sales | 3 Years | 33 | 45,513 | 44,649 | 22,212 | 85,058 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Weekly Gross Sales | 4+ Years | 243 | 56,489 | 53,979 | 24,625 | 132,180 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Weekly Gross Sales | Average of All Stores | 347 | 51,283 | 48,001 | 18,428 | 132,180 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Annual Gross Sales | 1 Year | 37 | 1,693,451 | 1,688,265 | 958,273 | 3,228,158 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Annual Gross Sales | 2 Years | 34 | 2,082,112 | 2,085,636 | 1,007,028 | 3,064,219 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Annual Gross Sales | 3 Years | 33 | 2,366,665 | 2,321,758 | 1,155,048 | 4,422,997 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Annual Gross Sales | 4+ Years | 243 | 2,937,419 | 2,806,907 | 1,280,489 | 6,873,341 | January 1, 2024 to December 28, 2024 | not disclosed |

| Average Annual Gross Sales | Average of All Stores | 347 | 2,666,693 | 2,496,071 | 958,273 | 6,873,341 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Gross Margin % | 1 Year | 37 | 40.5 | 40.3 | 30.4 | 50.8 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Gross Margin % | 2 Years | 34 | 40.5 | 40.2 | 31.5 | 50.3 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Gross Margin % | 3 Years | 33 | 40.3 | 40.3 | 34.1 | 47.2 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Gross Margin % | 4+ Years | 243 | 36.9 | 36.2 | 27.7 | 48.2 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Gross Margin % | Average of All Stores | 347 | 38 | 37.4 | 27.7 | 50.8 | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent | 1 Year | 37 | 176,225 | 162,051 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent | 2 Years | 34 | 171,118 | 167,901 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent | 3 Years | 33 | 176,204 | 176,291 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent | 4+ Years | 243 | 186,747 | 177,411 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent | Average of All Stores | 347 | 183,091 | 172,823 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent % of Gross Sales | 1 Year | 37 | 10.4 | 11.2 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent % of Gross Sales | 2 Years | 34 | 8.2 | 8.3 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent % of Gross Sales | 3 Years | 33 | 7.4 | 7.5 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent % of Gross Sales | 4+ Years | 243 | 6.4 | 6.2 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Rent % of Gross Sales | Average of All Stores | 347 | 6.9 | 6.7 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense | 1 Year | 37 | 325,366 | 304,549 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense | 2 Years | 34 | 389,644 | 366,309 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense | 3 Years | 33 | 390,334 | 373,874 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense | 4+ Years | 243 | 390,411 | 357,738 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense | Average of All Stores | 347 | 383,393 | 352,920 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense Percent of Gross Sales | 1 Year | 37 | 19.2 | 20 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense Percent of Gross Sales | 2 Years | 34 | 18.7 | 17.8 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense Percent of Gross Sales | 3 Years | 33 | 16.5 | 16.4 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense Percent of Gross Sales | 4+ Years | 243 | 13.3 | 12.8 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |

| Annual Labor Expense Percent of Gross Sales | Average of All Stores | 347 | 14.4 | 14.5 | not disclosed | not disclosed | January 1, 2024 to December 28, 2024 | not disclosed |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2022 | 374 | 60 | 0 | 0 | 1 | 4 | not disclosed | 429 |

| 2023 | 429 | 60 | 0 | 0 | 0 | 4 | not disclosed | 485 |

| 2024 | 485 | 28 | 0 | 0 | 3 | 8 | not disclosed | 502 |



## Agreement terms (Item 17)

- term_years: 10
- renewal_count: 2

- renewal_term_years: 5

- renewal_fee: pay a renewal fee of $2,500
- transfer_fee: you or the transferee pay a transfer fee of $5,000

- cure_period_days: 15

- noncompete_post_term_years: 2
- noncompete_post_term_radius_miles: 5
- dispute_resolution: mediation

- governing_law_state: MI

- fdd_page: 50

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 2,496,071

- investment_midpoint_usd: 1,257,762

- revenue_to_investment: 1.98

- royalty_pct: 3
- revenue_per_royalty_point_usd: 832,024

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 540,520 | 7 | 8 | 273,567.5 | lowest first | Pet Retail |

| fee_low | 49,900 | 5 | 8 | 47,450 | lowest first | Pet Retail |
| royalty | 3 | 1 | 8 | 5.25 | lowest first | Pet Retail |
| allin | 6.5 | 4 | 8 | 6.5 | lowest first | Pet Retail |
| outlets | 735 | 1 | 8 | 64.5 | highest first | Pet Retail |
| growth | 11.4 | 15 | 28 | 12.65 | highest first | Pet Services |
| closure | 1.2 | 8 | 27 | 2.8 | lowest first | Pet Services |

## Similar alternatives (closest first)
1. Natural Hounds (same sub-category; investment from $347,026)
2. Petland (same sub-category; investment from $315,500)
3. Pet Evolution (same sub-category; investment from $800,550)
4. Wild Birds Unlimited (same sub-category; investment from $231,635)
5. Three Dog Bakery (same sub-category; investment from $181,087)
6. Pet Wants (same sub-category; investment from $148,150)
7. Salty Paws® (same sub-category; investment from $99,270)
8. Central Bark (same industry; investment from $522,474)
9. WNW (same industry; investment from $520,250)
10. Camp Run-A-Mutt (same industry; investment from $588,900)


---

# Supercuts

- Brand slug: supercuts
- Legal name: Supercuts, Inc.
- Industry: Salon & Beauty
- FDD year: 2025 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/supercuts/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 39,500

- initial_fee_high_usd: 39,500
- royalty_pct: 6

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 5
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: not disclosed
- total_investment_low_usd: 185,930

- total_investment_high_usd: 323,460
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Supercuts uses a Development Fee structure in lieu of a separate Initial Franchise Fee for new franchisees (those signing after September 29, 2011). The Development Fee serves as full payment for development and franchise rights: $39,500 for a Single Salon, $69,500 for 3-Salon Fast Start, $99,500 for 6-Salon Fast Start, plus $10,000 for each additional Salon beyond 6. There is no separate Initial Franchise Fee charged under the Franchise Agreement for these new franchisees. Existing franchisees who signed before September 30, 2011 pay lower Development Fees ($10,000–$12,500 per Salon) and $0 Initial Franchise Fee. During the last fiscal year, Development Fees ranged from $0 to $39,500, reflecting possible waivers or reductions in unique situations.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 1,801

- franchised_outlets: 1,701
- company_outlets: 100

- states_count: 47
- closure_rate_pct: 7.6
- closures: 478
- closures_not_itemized: 0
- reacquired: 108
- franchised_outlet_years: 6257
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: -13.3

- growth_outlets_from: 2,077

- growth_outlets_to: 1,801

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 11
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 297,216
- basis: median, TOTALS (1,661 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Average Gross Sales / Median Gross Sales / Max Gross Sales / Min Gross Sales | Top | 553 | 478,554 | 438,149 | 356,437 | 1,199,963 | Fiscal Year 2024-2025 (July 1, 2024 through June 30, 2025) | 66 |
| Average Gross Sales / Median Gross Sales / Max Gross Sales / Min Gross Sales | Mid | 554 | 300,051 | 297,217 | 250,731 | 356,384 | Fiscal Year 2024-2025 (July 1, 2024 through June 30, 2025) | 66 |
| Average Gross Sales / Median Gross Sales / Max Gross Sales / Min Gross Sales | Bottom | 554 | 188,594 | 195,944 | 35,691 | 250,421 | Fiscal Year 2024-2025 (July 1, 2024 through June 30, 2025) | 67 |
| Average Gross Sales / Median Gross Sales / Max Gross Sales / Min Gross Sales | TOTALS | 1,661 | 322,306 | 297,216 | 35,691 | 1,199,963 | Fiscal Year 2024-2025 (July 1, 2024 through June 30, 2025) | 67 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 2,252 | 14 | 0 | 0 | 0 | 196 | not disclosed | 2,070 |
| 2024 | 2,070 | 10 | 0 | 0 | 0 | 145 | not disclosed | 1,935 |
| 2025 | 1,935 | 11 | 0 | 0 | 108 | 137 | not disclosed | 1,701 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 297,216

- investment_midpoint_usd: 254,695

- revenue_to_investment: 1.17

- royalty_pct: 6
- revenue_per_royalty_point_usd: 49,536

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 185,930 | 10 | 17 | 184,794 | lowest first | Hair Salon |

| fee_low | 39,500 | 8 | 17 | 39,500 | lowest first | Hair Salon |
| royalty | 6 | 4 | 13 | 6 | lowest first | Hair Salon |
| allin | 11 | 12 | 13 | 8 | lowest first | Hair Salon |
| outlets | 1,801 | 2 | 17 | 48 | highest first | Hair Salon |
| growth | -13.3 | 8 | 11 | 0.3 | highest first | Hair Salon |
| closure | 7.6 | 8 | 11 | 5.8 | lowest first | Hair Salon |

## Similar alternatives (closest first)
1. Lemon Tree (same sub-category; investment from $184,794)
2. SmartStyle (same sub-category; investment from $184,440)
3. Great Clips (same sub-category; investment from $187,800)
4. Sharkey's Cuts for Kids (same sub-category; investment from $189,415)
5. Cost Cutters (same sub-category; investment from $180,990)
6. Snip-its Salon (same sub-category; investment from $200,455)
7. Sit Still (same sub-category; investment from $157,984)
8. Primp and Blow (same sub-category; investment from $144,970)
9. Hair Cuttery (same sub-category; investment from $230,462)
10. Cookie Cutters (same sub-category; investment from $138,200)


---

# Take 5 Oil Change

- Brand slug: take-5-oil-change
- Legal name: Take 5 Franchisor SPV LLC
- Industry: Automotive Services
- FDD year: 2025 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/take-5-oil-change/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 45,000

- initial_fee_high_usd: 45,000
- royalty_pct: 7

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 5
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 249
- total_investment_low_usd: 912,248

- total_investment_high_usd: 2,053,642
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
The initial franchise fee is $45,000, payable in lump sum at signing of the Franchise Agreement, and is non-refundable. During fiscal year 2024, franchisees paid an initial franchise fee ranging from $0 to $35,000. For Area Development Agreements, the development fee is 50% of the aggregate initial franchise fees for all Centers in the development schedule, applied toward each Center's franchise fee at signing. Incentive programs may waive or reduce the fee or modify payment timing. Additional required fees at signing include a $3,000 Software Installation Fee, a $20,000 Grand Opening Contribution, FF&E Package ($29,497–$39,388), and Opening Inventory ($23,000–$35,000).

## Outlets, closure rate, growth and all-in fee
- total_outlets: 1,142

- franchised_outlets: 432
- company_outlets: 710

- states_count: 36
- closure_rate_pct: 0.3
- closures: 2
- closures_not_itemized: 0
- reacquired: 4
- franchised_outlet_years: 686
- closure_year_from: 2022
- closure_year_to: 2024
- closure_ranking_eligible: yes
- growth_pct: 41.5

- growth_outlets_from: 807

- growth_outlets_to: 1,142

- growth_year_from: 2022

- growth_year_to: 2024

- growth_ranking_eligible: yes

- all_in_fee_pct: 12
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 1,271,529
- basis: median, 223 franchised Take 5 Oil Change Centers open at least 2 full years as of December 28, 2024 (223 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Gross Sales | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 1,384,790 | 1,327,808 | 190,365 | 3,474,051 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| COGS | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 386,993 | 375,891 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Gross Profit | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 997,797 | 951,917 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Payroll | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 277,251 | 265,871 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Marketing Fund | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 69,240 | 66,390 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Misc. Variable | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 88,195 | 80,629 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Total Variable Expenses | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 434,685 | 412,890 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Occupancy | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 95,193 | 97,119 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Insurance | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 8,783 | 8,783 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Total Fixed Expenses | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 103,976 | 105,901 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Royalty Fee | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 96,935 | 92,947 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| 4-Wall EBITDA | 298 affiliate-owned Take 5 Oil Change Centers open at least one full year as of December 28, 2024 (All Centers average) | 298 | 362,201 | 340,178 | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 82 |
| Gross Sales | Bottom 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 931,354 | 949,290 | 190,365 | 1,327,689 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |
| Gross Sales | Top 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 1,838,227 | 1,703,407 | 1,327,927 | 3,474,051 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |
| 4-Wall EBITDA | Bottom 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 162,874 | not disclosed | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |
| 4-Wall EBITDA | Top 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 561,527 | not disclosed | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |
| Gross Sales - Year 1 | 293 franchised Take 5 Oil Change Centers - Year 1 (opened December 28, 2019 through December 30, 2023) | 293 | 901,665 | 865,488 | 255,888 | 2,076,227 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| Gross Sales - Year 2 | 193 franchised Take 5 Oil Change Centers - Year 2 (opened December 28, 2019 through December 30, 2023) | 193 | 1,133,199 | 1,118,116 | 303,893 | 2,228,401 | Year 2 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| Gross Sales - Year 3 | 102 franchised Take 5 Oil Change Centers - Year 3 (opened December 28, 2019 through December 30, 2023) | 102 | 1,333,101 | 1,275,933 | 377,130 | 2,829,308 | Year 3 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| CPD (Cars Per Day) - Year 1 | 293 franchised Take 5 Oil Change Centers - Year 1 (opened December 28, 2019 through December 30, 2023) | 293 | 28 | 27 | 10 | 74 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| CPD (Cars Per Day) - Year 2 | 193 franchised Take 5 Oil Change Centers - Year 2 (opened December 28, 2019 through December 30, 2023) | 193 | 33 | 31 | 10 | 81 | Year 2 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| CPD (Cars Per Day) - Year 3 | 102 franchised Take 5 Oil Change Centers - Year 3 (opened December 28, 2019 through December 30, 2023) | 102 | 36 | 34 | 10 | 79 | Year 3 of operation (franchisees opened 2020-2023 fiscal years) | 87 |
| Gross Sales - Year 1 by Population Group: Less than 20,000 | Year 1 franchised centers in Population Group: Less than 20,000 residents within 3-mile radius | 29 | 841,722 | 800,282 | 411,353 | 1,770,189 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 20,001 - 30,000 | Year 1 franchised centers in Population Group: 20,001 - 30,000 residents within 3-mile radius | 42 | 891,697 | 861,505 | 355,776 | 1,651,717 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 30,001 - 40,000 | Year 1 franchised centers in Population Group: 30,001 - 40,000 residents within 3-mile radius | 51 | 882,652 | 837,354 | 523,952 | 1,728,853 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 40,001 - 50,000 | Year 1 franchised centers in Population Group: 40,001 - 50,000 residents within 3-mile radius | 43 | 951,486 | 899,458 | 326,860 | 2,076,227 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 50,001 - 60,000 | Year 1 franchised centers in Population Group: 50,001 - 60,000 residents within 3-mile radius | 24 | 1,033,055 | 979,989 | 519,113 | 1,698,963 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 60,001 - 70,000 | Year 1 franchised centers in Population Group: 60,001 - 70,000 residents within 3-mile radius | 31 | 821,309 | 739,039 | 435,871 | 1,809,743 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: 70,001 - 100,000 | Year 1 franchised centers in Population Group: 70,001 - 100,000 residents within 3-mile radius | 43 | 906,413 | 914,268 | 255,888 | 1,525,368 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Year 1 by Population Group: Greater than 100,000 | Year 1 franchised centers in Population Group: Greater than 100,000 residents within 3-mile radius | 30 | 905,598 | 935,032 | 490,334 | 1,474,776 | Year 1 of operation (franchisees opened 2020-2023 fiscal years) | 88 |
| Gross Sales - Open More Than 1 Year (2024 Fiscal Year) | 323 franchised Take 5 Oil Change Centers open at least one full year as of December 28, 2024 | 323 | 1,235,518 | 1,137,962 | 409,268 | 3,637,350 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 90 |
| Gross Sales - Open More Than 2 Years (2024 Fiscal Year) | 223 franchised Take 5 Oil Change Centers open at least 2 full years as of December 28, 2024 | 223 | 1,337,871 | 1,271,529 | 409,268 | 3,637,350 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 90 |
| CPD (Cars Per Day) - Open More Than 1 Year (2024 Fiscal Year) | 323 franchised Take 5 Oil Change Centers open at least one full year as of December 28, 2024 | 323 | 32 | 30 | 10 | 113 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 90 |
| CPD (Cars Per Day) - Open More Than 2 Years (2024 Fiscal Year) | 223 franchised Take 5 Oil Change Centers open at least 2 full years as of December 28, 2024 | 223 | 35 | 32 | 10 | 113 | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 90 |
| Pre-Acquisition Gross Sales | 32 M&A Centers (affiliate-owned, acquired from existing quick lube businesses, converted to Take 5) - Pre-Acquisition | 32 | 907,496 | 861,068 | 414,604 | 1,403,755 | 12-month period prior to acquisition by affiliate | 91 |
| Year 1 Gross Sales (M&A Centers) | 32 M&A Centers (affiliate-owned) - Year 1 as Take 5 Oil Change Centers | 32 | 1,167,959 | 1,107,852 | 656,596 | 2,370,545 | Year 1 of operation as Take 5 Oil Change Center (acquired December 28, 2019 through December 30, 2023) | 91 |
| Year 2 Gross Sales (M&A Centers) | 23 M&A Centers (affiliate-owned) - Year 2 as Take 5 Oil Change Centers | 23 | 1,345,075 | 1,300,631 | 604,845 | 2,580,675 | Year 2 of operation as Take 5 Oil Change Center (acquired December 28, 2019 through December 30, 2023) | 91 |
| Year 3 Gross Sales (M&A Centers) | 11 M&A Centers (affiliate-owned) - Year 3 as Take 5 Oil Change Centers | 11 | 1,399,988 | 1,295,899 | 598,837 | 2,204,621 | Year 3 of operation as Take 5 Oil Change Center (acquired December 28, 2019 through December 30, 2023) | 91 |
| Gross Profit | Bottom 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 664,394 | not disclosed | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |
| Gross Profit | Top 50% of 298 affiliate-owned Take 5 Oil Change Centers by 2024 Gross Sales | 149 | 1,331,201 | not disclosed | not disclosed | not disclosed | 2024 Fiscal Year (December 31, 2023 through December 28, 2024) | 83 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2022 | 134 | 94 | 0 | 0 | 1 | 0 | not disclosed | 227 |
| 2023 | 227 | 100 | 1 | 0 | 1 | 0 | not disclosed | 325 |
| 2024 | 325 | 110 | 1 | 0 | 2 | 0 | not disclosed | 432 |

## Agreement terms (Item 17)
- term_years: 15

- renewal_count: 1
- renewal_term_years: 15
- renewal_fee: Pay successor franchise fee equal to 50% of our then current initial franchise fee; sign then current form of franchise agreement and other agreements (which may be materially different).

- transfer_fee: You or transferee pay training and transfer fee equal to 50% of our then current initial franchise fee; if we obtain a purchaser, you must pay us 10% of the purchase price.
- cure_period_days: 30
- noncompete_post_term_years: 3

- noncompete_post_term_radius_miles: 5

- dispute_resolution: litigation
- governing_law_state: NC
- fdd_page: 72



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 1,271,529
- investment_midpoint_usd: 1,482,945
- revenue_to_investment: 0.86
- royalty_pct: 7

- revenue_per_royalty_point_usd: 181,647



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 912,248 | 9 | 9 | 235,000 | lowest first | Oil Change & Quick Lube |
| fee_low | 45,000 | 8 | 9 | 30,000 | lowest first | Oil Change & Quick Lube |

| royalty | 7 | 8 | 9 | 6 | lowest first | Oil Change & Quick Lube |

| allin | 12 | 9 | 9 | 8 | lowest first | Oil Change & Quick Lube |

| outlets | 1,142 | 3 | 9 | 78 | highest first | Oil Change & Quick Lube |

| growth | 41.5 | 3 | 46 | -0.35 | highest first | Automotive Services |

| closure | 0.3 | 5 | 46 | 4.25 | lowest first | Automotive Services |



## Similar alternatives (closest first)

1. Grease Monkey (same sub-category; investment from $708,057)

2. SpeeDee Oil Change & Auto Service (same sub-category; investment from $708,057)

3. Jiffy Lube (same sub-category; investment from $236,000)

4. Victory Lane (same sub-category; investment from $235,000)

5. Valvoline Instant Oil Change (same sub-category; investment from $192,375)

6. Econo Lube N' Tune & Brakes (same sub-category; investment from $184,377)

7. Costa Oil (same sub-category; investment from $131,750)

8. All Tune and Lube® (same sub-category; investment from $103,800)

9. Hertz (same industry; investment from $879,300)

10. RNR Tire Express (same industry; investment from $718,561)





---



# The Joint



- Brand slug: the-joint

- Legal name: The Joint Corp

- Industry: Health & Medical

- FDD year: 2025 (NASAA EFD)

- Source: https://www.nasaaefd.org/Franchise/Search

- FranchiseDepth page: https://franchisedepth.com/franchise/the-joint/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 39,900
- initial_fee_high_usd: 39,900

- royalty_pct: 7
- royalty_min_monthly_usd: 700

- marketing_fee_pct: 2

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 599

- total_investment_low_usd: 245,250
- total_investment_high_usd: 543,000

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

Standard $39,900. 2025 Sales Incentive: Franchise Agreements signed in 2025 (through December 31, 2025) received an additional 50% discount off the initial franchise fee ($19,950 instead of $39,900). Veterans $6K discount ($33,900). Multi-clinic $10K discount per additional unit ($29,900). DC Path to Ownership $19,900 discount ($20,000). Non-combinable except 2025 Incentive. Local Advertising Commitment: the franchisee must spend the greater of 5% of Gross Sales or $3,000 per month on local advertising, paid to third parties and in addition to the Brand Fund Fee; compliance is measured on a rolling 6-month basis, and a shortfall may be charged at 10% of the deficiency, paid into the Brand Fund.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 970
- franchised_outlets: 845

- company_outlets: 125
- states_count: 41

- closure_rate_pct: 1.6

- closures: 33

- closures_not_itemized: 0

- reacquired: 19

- franchised_outlet_years: 2122

- closure_year_from: 2022

- closure_year_to: 2024

- closure_ranking_eligible: yes

- growth_pct: 15.8
- growth_outlets_from: 838
- growth_outlets_to: 970
- growth_year_from: 2022
- growth_year_to: 2024
- growth_ranking_eligible: yes
- all_in_fee_pct: 9

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 527,787

- basis: median, All 785 Franchised Clinics (785 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| Gross Sales | Quartile 1 (Top 25%) | 196 | 913,466 | 859,413 | 709,832 | 1,941,371 | Calendar Year 2024 | 54 |

| Gross Sales | Quartile 2 | 196 | 606,178 | 598,158 | 528,193 | 707,745 | Calendar Year 2024 | 54 |

| Gross Sales | Quartile 3 | 196 | 456,472 | 458,545 | 386,649 | 527,787 | Calendar Year 2024 | 54 |

| Gross Sales | Quartile 4 (Bottom 25%) | 197 | 303,525 | 314,895 | 122,807 | 386,417 | Calendar Year 2024 | 54 |

| Gross Sales | All 785 Franchised Clinics | 785 | 569,571 | 527,787 | 122,807 | 1,941,371 | Calendar Year 2024 | 54 |

| Net Profit | All Qualifying Outlets (406 Franchised) | 406 | 105,050 | 91,488 | -154,839 | 721,629 | Calendar Year 2024 | 54 |

| Net Profit | $1M+ Gross Sales (26 Clinics) | 26 | 354,878 | 359,774 | 161,790 | 721,629 | Calendar Year 2024 | 55 |

| Net Profit | Quartile 1 | 102 | 248,208 | 233,132 | 13,828 | 721,629 | Calendar Year 2024 | 55 |

| Net Profit | Quartile 2 | 101 | 128,663 | 123,390 | -51,377 | 268,186 | Calendar Year 2024 | 55 |

| Net Profit | Quartile 3 | 101 | 62,556 | 59,820 | -108,150 | 200,453 | Calendar Year 2024 | 56 |

| Net Profit | Quartile 4 | 102 | -19,413 | -15,383 | -154,839 | 75,866 | Calendar Year 2024 | 56 |

| Weekly Patient Visits (Total) | Quartile 1 | 196 | 489 | 467 | 380 | 845 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (Total) | Quartile 2 | 196 | 324 | 320 | 280 | 380 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (Total) | Quartile 3 | 196 | 241 | 243 | 203 | 279 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (Total) | Quartile 4 | 197 | 162 | 167 | 64 | 202 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (Total) | All 785 Clinics | 785 | 304 | 279 | 64 | 845 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (New Patients) | Quartile 1 | 196 | 31 | 28 | 23 | 78 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (New Patients) | Quartile 2 | 196 | 20 | 20 | 18 | 23 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (New Patients) | Quartile 3 | 196 | 16 | 15 | 13 | 18 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (New Patients) | Quartile 4 | 197 | 11 | 11 | 4 | 13 | Calendar Year 2024 | 57 |

| Weekly Patient Visits (New Patients) | All 785 Clinics | 785 | 19 | 18 | 4 | 78 | Calendar Year 2024 | 57 |

| Active Members (Monthly) | Quartile 1 | 196 | 980 | 901 | 743 | 2,864 | Calendar Year 2024 | 57 |

| Active Members (Monthly) | Quartile 2 | 196 | 642 | 638 | 545 | 742 | Calendar Year 2024 | 57 |

| Active Members (Monthly) | Quartile 3 | 196 | 463 | 465 | 381 | 545 | Calendar Year 2024 | 57 |

| Active Members (Monthly) | Quartile 4 | 197 | 295 | 312 | 146 | 381 | Calendar Year 2024 | 57 |

| Active Members (Monthly) | All 785 Clinics | 785 | 595 | 545 | 146 | 2,864 | Calendar Year 2024 | 57 |

| Gross Sales Ramp Up | Month 1 (57 new clinics 2024) | 57 | 8,217 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 2 (55 clinics) | 55 | 16,240 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 3 (51 clinics) | 51 | 20,995 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 4 (46 clinics) | 46 | 23,313 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 5 (43 clinics) | 43 | 24,720 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 6 (40 clinics) | 40 | 25,982 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 7 (32 clinics) | 32 | 27,282 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 8 (28 clinics) | 28 | 27,339 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 9 (24 clinics) | 24 | 29,446 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 10 (23 clinics) | 23 | 30,379 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 11 (15 clinics) | 15 | 29,939 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |

| Gross Sales Ramp Up | Month 12 (8 clinics) | 8 | 32,029 | not disclosed | not disclosed | not disclosed | Monthly Gross Sales, clinics opened in 2024, measured through December 31, 2024 | 57 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2022 | 610 | 123 | 0 | 0 | 16 | 5 | 46 | 712 |

| 2023 | 712 | 104 | 0 | 1 | 3 | 12 | 24 | 800 |

| 2024 | 800 | 60 | 0 | 0 | 0 | 15 | 41 | 845 |



## Agreement terms (Item 17)

- term_years: 10
- renewal_count: 1

- renewal_term_years: 10

- renewal_fee: You must: not be in default; give us timely notice; sign then-current form of franchise agreement and related documents; sign general release (subject to state law); pay renewal fee; pay clinic design fee and remodel Clinic in accordance with new Clinic Design; upgrade furniture, fixtures and equipment to current standards; and extend lease for duration of renewal term.
- transfer_fee: You must: be in compliance with Franchise Agreement; assign lease (if applicable); pay transfer fee; subordinate transferee's ongoing payments owed to you (if any) to transferee's financial obligations owed to us; and sign general release (subject to state law).

- cure_period_days: 30

- noncompete_post_term_years: 2
- noncompete_post_term_radius_miles: 10
- dispute_resolution: mediation

- governing_law_state: AZ

- fdd_page: 46

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 527,787

- investment_midpoint_usd: 394,125

- revenue_to_investment: 1.34

- royalty_pct: 7
- revenue_per_royalty_point_usd: 75,398

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 245,250 | 6 | 8 | 159,300 | lowest first | Chiropractic |

| fee_low | 39,900 | 4 | 8 | 39,950 | lowest first | Chiropractic |
| royalty | 7 | 31 | 72 | 7 | lowest first | Health & Medical |
| allin | 9 | 39 | 72 | 8 | lowest first | Health & Medical |
| outlets | 970 | 1 | 8 | 71 | highest first | Chiropractic |
| growth | 15.8 | 16 | 35 | 11.4 | highest first | Health & Medical |
| closure | 1.6 | 7 | 33 | 5.6 | lowest first | Health & Medical |

## Similar alternatives (closest first)
1. Maxliving (same sub-category; investment from $167,600)
2. Pure Health Chiropractic (same sub-category; investment from $151,000)
3. 100% Chiropractic (same sub-category; investment from $339,742)
4. ChiroWay (same sub-category; investment from $113,350)
5. Federal Injury Centers (same sub-category; investment from $94,300)
6. The Wellness Way (same sub-category; investment from $75,400)
7. HealthSource Chiropractic (same sub-category; investment from $435,932)
8. Hydrate IV Bar (same industry; investment from $242,050)
9. Positive Reset (same industry; investment from $240,550)
10. QC Kinetix® (same industry; investment from $250,100)


---

# Tuffy

- Brand slug: tuffy
- Legal name: Gimex Properties Corp., Inc
- Industry: Automotive Services
- FDD year: 2025 (WI)
- Source: https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=639366&hash=271312205&search=external&type=GENERAL
- FranchiseDepth page: https://franchisedepth.com/franchise/tuffy/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 30,000

- initial_fee_high_usd: 30,000
- royalty_pct: 5

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 5
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: not disclosed
- total_investment_low_usd: 222,000

- total_investment_high_usd: 723,500
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
$30,000 standard fee; reduced fees for additional units ($25k/2nd, $20k/3rd, $15k/4th, $10k/5th+); area developers pay $5,000 per franchise opened; initial advertising fee $3,000-$15,000 additional

## Outlets, closure rate, growth and all-in fee
- total_outlets: 129

- franchised_outlets: 101
- company_outlets: 28

- states_count: 14
- closure_rate_pct: 2
- closures: 7
- closures_not_itemized: 0
- reacquired: 53
- franchised_outlet_years: 348
- closure_year_from: 2022
- closure_year_to: 2024
- closure_ranking_eligible: yes
- growth_pct: -20.9

- growth_outlets_from: 163

- growth_outlets_to: 129

- growth_year_from: 2022

- growth_year_to: 2024

- growth_ranking_eligible: yes

- all_in_fee_pct: 10
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 1,343,137
- basis: median, 59 franchised Tuffy Auto Service Centers in operation at least two full calendar years (as of December 31, 2024) with at least four bays (59 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Gross Sales-2024 | 59 franchised Tuffy Auto Service Centers in operation at least two full calendar years (as of December 31, 2024) with at least four bays | 59 | 1,416,325 | 1,343,137 | 468,196 | 4,916,047 | Calendar Year 2024 | 45 |
| Annual Car Count-2024 | 59 franchised Tuffy Auto Service Centers in operation at least two full calendar years (as of December 31, 2024) with at least four bays | 59 | 3,283 | 2,979 | 789 | 13,719 | Calendar Year 2024 | 45 |
| Average Repair Ticket Amount-2024 | 59 franchised Tuffy Auto Service Centers in operation at least two full calendar years (as of December 31, 2024) with at least four bays | 59 | 466 | 432 | 235 | 1,284 | Calendar Year 2024 | 45 |
| Cost of Goods Sold as a Percentage of Sales-2023 | 59 franchised Tuffy centers that reported cost of goods sold | 59 | 35.34 | 30 | 21.02 | 75.06 | 2023 per table row labels (Item 19 narrative says calendar year 2024) | 45 |
| Labor as a Percentage of Sales-2023 | 57 franchised Tuffy centers that reported labor cost | 57 | 24.06 | 25.1 | 0 | 70.24 | 2023 per table row labels (Item 19 narrative says calendar year 2024) | 45 |
| Rent as a Percentage of Sales-2023 | 51 franchised Tuffy centers that reported rent | 51 | 7.25 | 6.39 | 0 | 19.81 | 2023 per table row labels (Item 19 narrative says calendar year 2024) | 45 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2022 | 145 | 4 | 4 | 1 | 41 | 0 | not disclosed | 103 |
| 2023 | 103 | 9 | 1 | 0 | 11 | 0 | not disclosed | 100 |
| 2024 | 100 | 3 | 1 | 0 | 1 | 0 | not disclosed | 101 |

## Agreement terms (Item 17)
- term_years: 15

- renewal_count: 3
- renewal_term_years: 5
- renewal_fee: The Franchise Agreement automatically renews unless you elect not to renew or we do not consent to renewal. As conditions to renewal, we may require that you release us from claims, execute our standard form of License Agreement in use at the time of renewal and renovate your franchise location…

- transfer_fee: Transfer fee paid (amount not specified in Item 17 table)
- cure_period_days: 10
- noncompete_post_term_years: 2

- noncompete_post_term_radius_miles: 5

- dispute_resolution: mediation
- governing_law_state: OH
- fdd_page: 38



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 1,343,137
- investment_midpoint_usd: 472,750
- revenue_to_investment: 2.84
- royalty_pct: 5

- revenue_per_royalty_point_usd: 268,627



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 222,000 | 13 | 22 | 203,500 | lowest first | Repair & Maintenance |
| fee_low | 30,000 | 10 | 23 | 30,000 | lowest first | Repair & Maintenance |

| royalty | 5 | 1 | 16 | 6.45 | lowest first | Repair & Maintenance |

| allin | 10 | 11 | 16 | 8 | lowest first | Repair & Maintenance |

| outlets | 129 | 9 | 23 | 62 | highest first | Repair & Maintenance |

| growth | -20.9 | 14 | 14 | -2.25 | highest first | Repair & Maintenance |

| closure | 2 | 5 | 14 | 3.4000000000000004 | lowest first | Repair & Maintenance |



## Similar alternatives (closest first)

1. Meineke (same sub-category; investment from $224,898)

2. Car Doctor Plus (same sub-category; investment from $218,000)

3. AAMCO (same sub-category; investment from $236,800)

4. Michelin Commercial Service Network (same sub-category; investment from $189,000)

5. Honest1 (same sub-category; investment from $255,750)

6. Precision Tune Auto Care (same sub-category; investment from $181,601)

7. Merlin (same sub-category; investment from $264,745)

8. Mr. Transmission / Milex Complete Auto Care (same sub-category; investment from $267,500)

9. Summit Auto Calibration (same sub-category; investment from $160,550)

10. Bosch Auto Service (same sub-category; investment from $146,600)





---



# uBreakiFix by Asurion



- Brand slug: ubreakifix-by-asurion

- Legal name: UBIF Franchising Co

- Industry: Tech Services

- FDD year: 2026 (MN)

- Source: https://www.cards.commerce.state.mn.us/CARDS/

- FranchiseDepth page: https://franchisedepth.com/franchise/ubreakifix-by-asurion/

- Hand-checked against the FDD: yes



## Fees and investment (Items 5-7)

- initial_fee_low_usd: 25,000
- initial_fee_high_usd: 40,000

- royalty_pct: 7
- royalty_min_monthly_usd: not disclosed

- marketing_fee_pct: 0

- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: not disclosed

- total_investment_low_usd: 171,350
- total_investment_high_usd: 468,150

- liquid_capital_usd: not disclosed

- net_worth_usd: not disclosed



## Fee notes

First Franchise Agreement requires a $40,000 Initial Franchise Fee plus a $12,500 Initial Training Fee (both non-refundable). Second or subsequent Franchise Agreements carry a reduced Initial Franchise Fee of $25,000, with the Initial Training Fee potentially waived. The Initial Franchise Fee and/or Initial Training Fee may be waived for affiliate-executed agreements, conversions from independent repair stores, or purchases of existing affiliate-owned stores. Under an Area Development Agreement, the first store's Initial Franchise Fee is $40,000 and subsequent stores are $25,000 (with a $12,500-per-store Development Fee credited against subsequent fees). Low set to $25,000 (subsequent/reduced fee) and high set to $40,000 (first store standard fee), excluding the Initial Training Fee of $12,500 which is a separate required fee. Continuing Royalty is 7% of Non-Recommerce Revenue and 4% of Recommerce Revenue (Gross Sales from pre-owned mobile and other electronic devices), paid monthly. Technology and Customer Support Fee is 1% of Gross Sales, paid monthly with the royalty. Advertising Fee is up to 2% of Gross Sales once an Advertising Fund is established; as of December 31, 2025, franchisees were not required to contribute. A National Account Administrative Fee of up to 5% of Gross Sales from National Account services may be charged in addition to the royalty.



## Outlets, closure rate, growth and all-in fee

- total_outlets: 677
- franchised_outlets: 549

- company_outlets: 128
- states_count: 44

- closure_rate_pct: 4.3

- closures: 66

- closures_not_itemized: 0

- reacquired: 1

- franchised_outlet_years: 1551

- closure_year_from: 2023

- closure_year_to: 2025

- closure_ranking_eligible: yes

- growth_pct: -6.1
- growth_outlets_from: 721
- growth_outlets_to: 677
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 7

- all_in_basis: royalty + marketing fund



## Comparable revenue

- annual_revenue_usd: 593,881.02

- basis: median, Stores that were Open 3+ years (as of 12/31/2025) (425 Stores) (425 outlets)



## Item 19 figures

| metric | cohort | outlets | avg | median | min | max | period | page |

|---|---|---|---|---|---|---|---|---|

| 2025 Total Revenue | Stores that were Open 3+ years (as of 12/31/2025) (425 Stores) | 425 | 612,328.07 | 593,881.02 | 214,930.7 | 1,625,206.22 | 2025 calendar year | 56 |

| Cost of Goods Sold (COGS) | Stores that were Open 3+ years (as of 12/31/2025) (425 Stores) | 425 | 233,021.67 | 226,545.51 | 91,510.28 | 612,146.54 | 2025 calendar year | 56 |

| Gross Profit | Stores that were Open 3+ years (as of 12/31/2025) (425 Stores) | 425 | 379,306.4 | 365,561.6 | 123,420.42 | 1,013,059.68 | 2025 calendar year | 56 |

| 2025 Total Revenue | Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores) | 95 | 545,898.37 | 511,161.69 | 221,754.7 | 1,061,801.97 | 2025 calendar year | 56 |

| Cost of Goods Sold (COGS) | Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores) | 95 | 219,971.92 | 197,057.96 | 82,451.89 | 423,088.34 | 2025 calendar year | 56 |

| Gross Profit | Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores) | 95 | 325,926.45 | 308,976.22 | 139,302.82 | 638,713.63 | 2025 calendar year | 56 |



## Franchised outlet turnover by year (Item 20 Table 3)

| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |

|---|---|---|---|---|---|---|---|---|

| 2023 | 443 | 136 | 18 | 0 | 1 | 3 | not disclosed | 557 |

| 2024 | 557 | 15 | 2 | 1 | 0 | 18 | not disclosed | 551 |

| 2025 | 551 | 22 | 13 | 0 | 0 | 11 | not disclosed | 549 |



## Agreement terms (Item 17)

- term_years: 10
- renewal_count: 2

- renewal_term_years: 10

- renewal_fee: pay a renewal fee of $10,000
- transfer_fee: pay all sums owed, including a transfer fee; sign releases and disclose all material information we request. The transferee must qualify; assume the Franchise Agreement or sign a new Franchise Agreement; complete training and pay our training fee; repair and refurbish the Store and each Mobile Unit assignee.

- cure_period_days: 10

- noncompete_post_term_years: 2
- noncompete_post_term_radius_miles: 20
- dispute_resolution: arbitration

- governing_law_state: FL

- fdd_page: 49

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 593,881

- investment_midpoint_usd: 319,750

- revenue_to_investment: 1.86

- royalty_pct: 7
- revenue_per_royalty_point_usd: 84,840

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 171,350 | 8 | 8 | 91,000 | lowest first | Device Repair |

| fee_low | 25,000 | 3 | 8 | 25,000 | lowest first | Device Repair |
| royalty | 7 | 13 | 29 | 7 | lowest first | Tech Services |
| allin | 7 | 5 | 29 | 9 | lowest first | Tech Services |
| outlets | 677 | 1 | 8 | 52 | highest first | Device Repair |
| growth | -6.1 | 15 | 20 | 7.7 | highest first | Tech Services |
| closure | 4.3 | 9 | 19 | 6.3 | lowest first | Tech Services |

## Similar alternatives (closest first)
1. Techy (same sub-category; investment from $118,600)
2. NerdsToGo (same sub-category; investment from $115,119)
3. SD Tech (same sub-category; investment from $91,650)
4. CPR (same sub-category; investment from $90,350)
5. Mr Fix (same sub-category; investment from $79,742)
6. iFixandRepair (same sub-category; investment from $78,200)
7. UltraFix (same sub-category; investment from $70,000)
8. Intelligent Assistant (same industry; investment from $168,000)
9. Shrunk 3D (same industry; investment from $187,485)
10. Holt Computer Training (same industry; investment from $151,800)


---

# VIO Med Spa

- Brand slug: vio-med-spa
- Legal name: VIO Franchise Group, LLC
- Industry: Health & Medical
- FDD year: 2026 (NASAA EFD)
- Source: https://www.nasaaefd.org/Franchise/Search
- FranchiseDepth page: https://franchisedepth.com/franchise/vio-med-spa/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 50,000

- initial_fee_high_usd: 50,000
- royalty_pct: 6

- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 1.5
- marketing_min_monthly_usd: not disclosed

- tech_fee_monthly_usd: 200
- total_investment_low_usd: 642,722

- total_investment_high_usd: 1,109,954
- liquid_capital_usd: not disclosed
- net_worth_usd: not disclosed

## Fee notes
Single-unit Franchise Agreement: $50,000 non-refundable. Multi-Unit Development Agreement adds $40,000 for second location, $33,000 for each additional (3-10 total). Local marketing spend must be at least 6% of monthly Gross Sales in months 1 through 24. After month 24 the minimum is 4% of Gross Sales in a calendar year that follows a year in which the Minimum Gross Sales Requirements were met ($750,000 in year 1, $1,000,000 in year 2, $1,250,000 in year 3 and each later year). The minimum is 2.5% of Gross Sales after a year with $3,000,000 in Gross Sales, and 1.5% after a year with $4,000,000. The minimum stays at 6% of Gross Sales in a year that follows a missed Minimum Gross Sales Requirement. A local marketing shortfall may have to be contributed to the Brand Development Fund.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 64

- franchised_outlets: 62
- company_outlets: 2

- states_count: 20
- closure_rate_pct: 3.1
- closures: 3
- closures_not_itemized: 0
- reacquired: 1
- franchised_outlet_years: 97
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: 88.2

- growth_outlets_from: 34

- growth_outlets_to: 64

- growth_year_from: 2023

- growth_year_to: 2025

- growth_ranking_eligible: yes

- all_in_fee_pct: 7.5
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 1,125,341
- basis: median, All Operational Franchise Outlets (51 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Total Spa Gross Sales | Company Owned Outlet 1 | 1 | 4,281,567 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Gross Profit | Company Owned Outlet 1 | 1 | 2,496,275 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| EBITDA | Company Owned Outlet 1 | 1 | 1,092,144 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Adjusted EBITDA | Company Owned Outlet 1 | 1 | 771,026 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Total Spa Gross Sales | Company Owned Outlet 2 | 1 | 2,808,847 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Gross Profit | Company Owned Outlet 2 | 1 | 1,677,051 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| EBITDA | Company Owned Outlet 2 | 1 | 625,734 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Adjusted EBITDA | Company Owned Outlet 2 | 1 | 415,070 | not disclosed | not disclosed | not disclosed | 2025 calendar year | not disclosed |
| Gross Sales | All Operational Franchise Outlets | 51 | 1,254,631 | 1,125,341 | 236,722 | 5,931,838 | 2025 calendar year | not disclosed |
| Gross Sales | Operational Franchise Outlets Operating for Two or More Calendar Years | 31 | 1,378,225 | 1,192,826 | 237,579 | 5,931,838 | 2025 calendar year | not disclosed |
| Gross Sales | Operational Franchise Outlets Operating for Three or More Calendar Years | 13 | 1,678,301 | 1,236,572 | 245,100 | 5,931,838 | 2025 calendar year | not disclosed |
| Gross Sales | Operational Franchise Outlets Operating for Four or More Calendar Years | 7 | 2,318,926 | 1,473,799 | 1,192,826 | 5,931,838 | 2025 calendar year | not disclosed |
| Gross Sales | All Operational Franchise Outlets: 1st Quartile (13 of 51 outlets) | 13 | 2,320,621 | 2,063,997 | 1,473,799 | 5,931,838 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets: 2nd Quartile (13 of 51 outlets) | 13 | 1,250,076 | 1,236,572 | 1,125,341 | 1,395,321 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets: 3rd Quartile (13 of 51 outlets) | 13 | 914,836 | 899,446 | 754,211 | 1,067,852 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets: 4th Quartile (12 of 51 outlets) | 12 | 472,854 | 466,525 | 236,722 | 699,636 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets Operating for Two or More Calendar Years: 1st Quartile (8 of 31 outlets) | 8 | 2,661,146 | 2,273,582 | 1,525,964 | 5,931,838 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets Operating for Two or More Calendar Years: 2nd Quartile (8 of 31 outlets) | 8 | 1,316,262 | 1,274,507 | 1,192,826 | 1,480,497 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets Operating for Two or More Calendar Years: 3rd Quartile (8 of 31 outlets) | 8 | 937,048 | 967,000 | 699,636 | 1,125,341 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets Operating for Two or More Calendar Years: 4th Quartile (7 of 31 outlets) | 7 | 487,045 | 519,442 | 237,579 | 673,939 | 2025 calendar year | 69 |
| Gross Sales | All Operational Franchise Outlets Operating for Three or More Calendar Years: 1st Quartile (3 of 13 outlets) | 3 | 4,002,970 | 3,583,914 | 2,493,158 | 5,931,838 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Three or More Calendar Years: 2nd Quartile (3 of 13 outlets) | 3 | 1,429,111 | 1,473,799 | 1,280,449 | 1,533,086 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Three or More Calendar Years: 3rd Quartile (3 of 13 outlets) | 3 | 1,127,851 | 1,192,826 | 954,154 | 1,236,572 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Three or More Calendar Years: 4th Quartile (4 of 13 outlets) | 4 | 534,529 | 596,690 | 245,100 | 699,636 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Four or More Calendar Years: 1st Quartile (2 of 7 outlets) | 2 | 4,757,876 | 4,757,876 | 3,583,914 | 5,931,838 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Four or More Calendar Years: 2nd Quartile (2 of 7 outlets) | 2 | 1,503,443 | 1,503,443 | 1,473,799 | 1,533,086 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Four or More Calendar Years: 3rd Quartile (2 of 7 outlets) | 2 | 1,258,510 | 1,258,510 | 1,236,572 | 1,280,449 | 2025 calendar year | 70 |
| Gross Sales | All Operational Franchise Outlets Operating for Four or More Calendar Years: 4th Quartile (1 of 7 outlets) | 1 | 1,192,826 | 1,192,826 | 1,192,826 | 1,192,826 | 2025 calendar year | 70 |
| Payroll and Labor | Company Owned Outlet 1 | 1 | 22 | not disclosed | not disclosed | not disclosed | 2025 calendar year | 66 |
| Rent | Company Owned Outlet 1 | 1 | 1.8 | not disclosed | not disclosed | not disclosed | 2025 calendar year | 66 |
| Payroll and Labor | Company Owned Outlet 2 | 1 | 22.7 | not disclosed | not disclosed | not disclosed | 2025 calendar year | 67 |
| Rent | Company Owned Outlet 2 | 1 | 2 | not disclosed | not disclosed | not disclosed | 2025 calendar year | 67 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 15 | 14 | 0 | 0 | 0 | 0 | not disclosed | 29 |
| 2024 | 29 | 25 | 0 | 0 | 1 | 0 | not disclosed | 53 |
| 2025 | 53 | 12 | 1 | 0 | 0 | 2 | not disclosed | 62 |

## Agreement terms (Item 17)
- term_years: 10

- renewal_count: 1
- renewal_term_years: 10
- renewal_fee: pay a renewal fee, remodel and upgrade you're the facility of your Spa Location Franchise to meet our standards and specifications, secure and possess the legal right to continue to occupy the premises of your Spa Location, and meet all other renewal requirements contained in the Franchise Agreement.

- transfer_fee: you pay the transfer fee
- cure_period_days: 30
- noncompete_post_term_years: 2

- noncompete_post_term_radius_miles: 25

- dispute_resolution: arbitration
- governing_law_state: OH
- fdd_page: 53



## Revenue relative to cost (revenue is not profit)

- comparable_annual_revenue_usd: 1,125,341
- investment_midpoint_usd: 876,338
- revenue_to_investment: 1.28
- royalty_pct: 6

- revenue_per_royalty_point_usd: 187,557



## Rank against peers

| metric | value | rank | peers | peer median | order | peer group |

|---|---|---|---|---|---|---|

| inv_low | 642,722 | 71 | 80 | 192,237.5 | lowest first | Health & Medical |
| fee_low | 50,000 | 48 | 73 | 40,000 | lowest first | Health & Medical |

| royalty | 6 | 15 | 72 | 7 | lowest first | Health & Medical |

| allin | 7.5 | 22 | 72 | 8 | lowest first | Health & Medical |

| outlets | 64 | 30 | 76 | 30 | highest first | Health & Medical |

| growth | 88.2 | 3 | 35 | 11.4 | highest first | Health & Medical |

| closure | 3.1 | 11 | 33 | 5.6 | lowest first | Health & Medical |



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2. Serotonin (same sub-category; investment from $665,634)

3. Restore Hyper Wellness (same sub-category; investment from $762,448)

4. The Tox (same sub-category; investment from $331,500)

5. Gameday Men's Health (same sub-category; investment from $224,575)

6. Capital Laser (same sub-category; investment from $113,750)

7. Zeiss Vision Center (same industry; investment from $605,000)

8. Vital Care (same industry; investment from $555,750)

9. Clear Lakes Dental (same industry; investment from $554,300)

10. 4ever Young (same industry; investment from $522,650)