{"brand_slug": "a-better-solution-in-home-care", "brand_name": "A Better Solution In Home Care", "legal_name": "ABS Franchise Services, Inc.", "industry": "home-services-senior-care", "industry_label": "Senior Care", "sub_category": null, "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-03-24", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/a-better-solution-in-home-care/", "hand_checked": 1, "corrections_logged": 6, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 55000, "initial_fee_high_usd": 55000, "royalty_pct": 5, "royalty_min_monthly_usd": 1000, "marketing_fee_pct": 1, "marketing_min_monthly_usd": 250, "tech_fee_monthly_usd": 399, "total_investment_low_usd": 126890, "total_investment_high_usd": 235350, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "2025 Gross Revenue", "cohort": "all_franchised", "cohort_label": "23 (out of 28) franchisee-owned Agencies open 12 full calendar months as of December 31, 2025", "outlet_count": 23, "period": "Fiscal Year 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 810813.82, "median_value": 595052, "min_value": 186936.84, "max_value": 2260332.03, "fdd_page": 41}, {"metric": "gross_sales", "metric_label": "Combined Gross Sales (Affiliate Agency Financial Results-2025)", "cohort": "all_company_owned", "cohort_label": "2 affiliate-owned Agencies (San Diego, CA and Phoenix, AZ), combined", "outlet_count": 2, "period": "Fiscal Year 2025", "year": 2025, "unit_period": "annual", "scope": "company-owned", "avg_value": 6505832, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 41}], "comparable_revenue": {"annual_revenue_usd": 595052.0, "basis": "median, 23 (out of 28) franchisee-owned Agencies open 12 full calendar months as of December 31, 2025 (23 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 2}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 27, "outlets_end": 25}, {"year": 2023, "outlet_type": "total", "outlets_start": 28, "outlets_end": 27}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 2}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 25, "outlets_end": 27}, {"year": 2024, "outlet_type": "total", "outlets_start": 27, "outlets_end": 29}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 2}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 27, "outlets_end": 28}, {"year": 2025, "outlet_type": "total", "outlets_start": 29, "outlets_end": 30}], "turnover_by_year": [{"year": 2023, "outlets_start": 27, "opened": 2, "terminated": 4, "non_renewed": 0, "reacquired": 1, "ceased_other": 0, "transferred": 1, "outlets_end": 25}, {"year": 2024, "outlets_start": 25, "opened": 3, "terminated": 1, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": 1, "outlets_end": 27}, {"year": 2025, "outlets_start": 27, "opened": 3, "terminated": 1, "non_renewed": 0, "reacquired": 0, "ceased_other": 1, "transferred": 0, "outlets_end": 28}], "outlets_by_state": [{"year": 2023, "state": "AZ", "outlets_end": 0}, {"year": 2023, "state": "CA", "outlets_end": 9}, {"year": 2023, "state": "CO", "outlets_end": 1}, {"year": 2023, "state": "FL", "outlets_end": 1}, {"year": 2023, "state": "ID", "outlets_end": 1}, {"year": 2023, "state": "KS", "outlets_end": 1}, {"year": 2023, "state": "MI", "outlets_end": 0}, {"year": 2023, "state": "NC", "outlets_end": 1}, {"year": 2023, "state": "NV", "outlets_end": 1}, {"year": 2023, "state": "OH", "outlets_end": 1}, {"year": 2023, "state": "OK", "outlets_end": 0}, {"year": 2023, "state": "SC", "outlets_end": 1}, {"year": 2023, "state": "TN", "outlets_end": 2}, {"year": 2023, "state": "TX", "outlets_end": 5}, {"year": 2023, "state": "WI", "outlets_end": 1}, {"year": 2024, "state": "AZ", "outlets_end": 0}, {"year": 2024, "state": "CA", "outlets_end": 9}, {"year": 2024, "state": "CO", "outlets_end": 1}, {"year": 2024, "state": "FL", "outlets_end": 2}, {"year": 2024, "state": "ID", "outlets_end": 1}, {"year": 2024, "state": "KS", "outlets_end": 1}, {"year": 2024, "state": "MI", "outlets_end": 1}, {"year": 2024, "state": "NC", "outlets_end": 1}, {"year": 2024, "state": "NV", "outlets_end": 1}, {"year": 2024, "state": "OH", "outlets_end": 1}, {"year": 2024, "state": "OK", "outlets_end": 0}, {"year": 2024, "state": "SC", "outlets_end": 1}, {"year": 2024, "state": "TN", "outlets_end": 2}, {"year": 2024, "state": "TX", "outlets_end": 5}, {"year": 2024, "state": "WI", "outlets_end": 1}, {"year": 2025, "state": "AZ", "outlets_end": 0}, {"year": 2025, "state": "CA", "outlets_end": 9}, {"year": 2025, "state": "CO", "outlets_end": 1}, {"year": 2025, "state": "FL", "outlets_end": 2}, {"year": 2025, "state": "ID", "outlets_end": 1}, {"year": 2025, "state": "KS", "outlets_end": 1}, {"year": 2025, "state": "MI", "outlets_end": 1}, {"year": 2025, "state": "MN", "outlets_end": 1}, {"year": 2025, "state": "NC", "outlets_end": 1}, {"year": 2025, "state": "NV", "outlets_end": 2}, {"year": 2025, "state": "OH", "outlets_end": 0}, {"year": 2025, "state": "OK", "outlets_end": 1}, {"year": 2025, "state": "SC", "outlets_end": 1}, {"year": 2025, "state": "TN", "outlets_end": 2}, {"year": 2025, "state": "TX", "outlets_end": 4}, {"year": 2025, "state": "WI", "outlets_end": 1}], "agreement_terms": null, "brand_metrics": {"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": 1, "closure_note": null, "growth_pct": 11.1, "growth_outlets_from": 27, "growth_outlets_to": 30, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": 6, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "mastercare", "alternative_name": "Mastercare", "same_sub_category": 0, "alternative_investment_low_usd": 125800, "investment_gap_usd": 1090, "alternative_total_outlets": 5}, {"rank": 2, "alternative_slug": "1heart-caregiver-services", "alternative_name": "1Heart Caregiver Services", "same_sub_category": 0, "alternative_investment_low_usd": 125650, "investment_gap_usd": 1240, "alternative_total_outlets": 26}, {"rank": 3, "alternative_slug": "visiting-angels", "alternative_name": "Visiting Angels", "same_sub_category": 0, "alternative_investment_low_usd": 125460, "investment_gap_usd": 1430, "alternative_total_outlets": 541}, {"rank": 4, "alternative_slug": "elder-well", "alternative_name": "Elder-Well", "same_sub_category": 0, "alternative_investment_low_usd": 130900, "investment_gap_usd": 4010, "alternative_total_outlets": 3}, {"rank": 5, "alternative_slug": "amada-senior-care", "alternative_name": "Amada Senior Care", "same_sub_category": 0, "alternative_investment_low_usd": 121577, "investment_gap_usd": 5313, "alternative_total_outlets": null}, {"rank": 6, "alternative_slug": "avendelle-assisted-living", "alternative_name": "Avendelle Assisted Living", "same_sub_category": 0, "alternative_investment_low_usd": 121525, "investment_gap_usd": 5365, "alternative_total_outlets": 21}, {"rank": 7, "alternative_slug": "home-helpers-home-care", "alternative_name": "Home Helpers Home Care", "same_sub_category": 0, "alternative_investment_low_usd": 120750, "investment_gap_usd": 6140, "alternative_total_outlets": null}, {"rank": 8, "alternative_slug": "2nd-family", "alternative_name": "2nd Family", "same_sub_category": 0, "alternative_investment_low_usd": 119825, "investment_gap_usd": 7065, "alternative_total_outlets": 25}, {"rank": 9, "alternative_slug": "comfort-keepers", "alternative_name": "Comfort Keepers", "same_sub_category": 0, "alternative_investment_low_usd": 119560, "investment_gap_usd": 7330, "alternative_total_outlets": 635}, {"rank": 10, "alternative_slug": "nurse-next-door", "alternative_name": "Nurse Next Door", "same_sub_category": 0, "alternative_investment_low_usd": 119115, "investment_gap_usd": 7775, "alternative_total_outlets": 74}], "peer_ranks": [{"metric": "inv_low", "value": 126890, "rank": 52, "peers": 68, "peer_median": 102827.0, "rank_order": "lowest first", "peer_group": "Senior Care"}, {"metric": "fee_low", "value": 55000, "rank": 53, "peers": 68, "peer_median": 49500.0, "rank_order": "lowest first", "peer_group": "Senior Care"}, {"metric": "royalty", "value": 5, "rank": 4, "peers": 65, "peer_median": 5, "rank_order": "lowest first", "peer_group": "Senior Care"}, {"metric": "allin", "value": 6, "rank": 6, "peers": 65, "peer_median": 7, "rank_order": "lowest first", "peer_group": "Senior Care"}, {"metric": "outlets", "value": 30, "rank": 32, "peers": 68, "peer_median": 25.5, "rank_order": "highest first", "peer_group": "Senior Care"}, {"metric": "growth", "value": 11.1, "rank": 20, "peers": 32, "peer_median": 16.9, "rank_order": "highest first", "peer_group": "Senior Care"}, {"metric": "closure", "value": 8.9, "rank": 28, "peers": 32, "peer_median": 3.95, "rank_order": "lowest first", "peer_group": "Senior Care"}], "value_ratios": {"comparable_annual_revenue_usd": 595052, "investment_midpoint_usd": 181120, "revenue_to_investment": 3.29, "royalty_pct": 5, "revenue_per_royalty_point_usd": 119010}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 27, "closures": 4, "closures_not_itemized": 0, "closure_rate_pct": 14.8}, {"year": 2024, "franchised_outlets_start": 25, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 4.0}, {"year": 2025, "franchised_outlets_start": 27, "closures": 2, "closures_not_itemized": 0, "closure_rate_pct": 7.4}]}
{"brand_slug": "applebee-s-neighborhood-grill-bar", "brand_name": "Applebee's Neighborhood Grill & Bar", "legal_name": "APPLEBEE'S FRANCHISOR LLC", "industry": "food-quick-service", "industry_label": "Food Quick Service", "sub_category": "Casual Dining", "fdd_year": 2026, "fdd_filing_state": "NASAA EFD", "fdd_effective_date": "2026-03-27", "fdd_source_url": "https://www.nasaaefd.org/Franchise/Search", "franchisedepth_url": "https://franchisedepth.com/franchise/applebee-s-neighborhood-grill-bar/", "hand_checked": 1, "corrections_logged": 8, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 35000, "initial_fee_high_usd": 50000, "royalty_pct": 4, "royalty_min_monthly_usd": null, "marketing_fee_pct": 4.25, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": null, "total_investment_low_usd": 3192516, "total_investment_high_usd": 5076178, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Annualized Average Gross Sales", "cohort": "other", "cohort_label": "Traditional Franchised Restaurants - Midwest Region", "outlet_count": 403, "period": "12 months, December 30, 2024 to December 28, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 2662918, "median_value": 2545951, "min_value": 1053693, "max_value": 5011435, "fdd_page": 53}, {"metric": "gross_sales", "metric_label": "Annualized Average Gross Sales", "cohort": "other", "cohort_label": "Traditional Franchised Restaurants - Northeast Region", "outlet_count": 279, "period": "12 months, December 30, 2024 to December 28, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 3830089, "median_value": 3609473, "min_value": 1994980, "max_value": 10150710, "fdd_page": 53}, {"metric": "gross_sales", "metric_label": "Annualized Average Gross Sales", "cohort": "other", "cohort_label": "Traditional Franchised Restaurants - South Region", "outlet_count": 419, "period": "12 months, December 30, 2024 to December 28, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 2450367, "median_value": 2361192, "min_value": 1086609, "max_value": 5036244, "fdd_page": 53}, {"metric": "gross_sales", "metric_label": "Annualized Average Gross Sales", "cohort": "other", "cohort_label": "Traditional Franchised Restaurants - West Region", "outlet_count": 250, "period": "12 months, December 30, 2024 to December 28, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 3292418, "median_value": 3224283, "min_value": 1733894, "max_value": 5754375, "fdd_page": 53}, {"metric": "gross_sales", "metric_label": "Annualized Average Gross Sales", "cohort": "all_franchised", "cohort_label": "Traditional Franchised Restaurants - All Regions", "outlet_count": 1351, "period": "12 months, December 30, 2024 to December 28, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 2954522, "median_value": 2822904, "min_value": 1053693, "max_value": 10150710, "fdd_page": 53}], "comparable_revenue": {"annual_revenue_usd": 2822904.0, "basis": "median, Traditional Franchised Restaurants - All Regions (1,351 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 1575, "outlets_end": 1542}, {"year": 2023, "outlet_type": "total", "outlets_start": 1575, "outlets_end": 1542}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 47}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 1542, "outlets_end": 1460}, {"year": 2024, "outlet_type": "total", "outlets_start": 1542, "outlets_end": 1507}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 47, "outlets_end": 59}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 1460, "outlets_end": 1416}, {"year": 2025, "outlet_type": "total", "outlets_start": 1507, "outlets_end": 1475}], "turnover_by_year": [{"year": 2023, "outlets_start": 1575, "opened": 4, "terminated": 2, "non_renewed": 3, "reacquired": 0, "ceased_other": 32, "transferred": null, "outlets_end": 1542}, {"year": 2024, "outlets_start": 1542, "opened": 0, "terminated": 0, "non_renewed": 6, "reacquired": 47, "ceased_other": 29, "transferred": null, "outlets_end": 1460}, {"year": 2025, "outlets_start": 1460, "opened": 9, "terminated": 0, "non_renewed": 8, "reacquired": 12, "ceased_other": 33, "transferred": null, "outlets_end": 1416}], "outlets_by_state": [{"year": 2023, "state": "AK", "outlets_end": 1}, {"year": 2023, "state": "AL", "outlets_end": 30}, {"year": 2023, "state": "AR", "outlets_end": 7}, {"year": 2023, "state": "AZ", "outlets_end": 21}, {"year": 2023, "state": "CA", "outlets_end": 107}, {"year": 2023, "state": "CO", "outlets_end": 22}, {"year": 2023, "state": "CT", "outlets_end": 5}, {"year": 2023, "state": "DE", "outlets_end": 12}, {"year": 2023, "state": "FL", "outlets_end": 88}, {"year": 2023, "state": "GA", "outlets_end": 58}, {"year": 2023, "state": "HI", "outlets_end": 0}, {"year": 2023, "state": "IA", "outlets_end": 25}, {"year": 2023, "state": "ID", "outlets_end": 12}, {"year": 2023, "state": "IL", "outlets_end": 35}, {"year": 2023, "state": "IN", "outlets_end": 56}, {"year": 2023, "state": "KS", "outlets_end": 27}, {"year": 2023, "state": "KY", "outlets_end": 26}, {"year": 2023, "state": "LA", "outlets_end": 12}, {"year": 2023, "state": "MA", "outlets_end": 24}, {"year": 2023, "state": "MD", "outlets_end": 18}, {"year": 2023, "state": "ME", "outlets_end": 12}, {"year": 2023, "state": "MI", "outlets_end": 83}, {"year": 2023, "state": "MN", "outlets_end": 45}, {"year": 2023, "state": "MO", "outlets_end": 45}, {"year": 2023, "state": "MS", "outlets_end": 20}, {"year": 2023, "state": "MT", "outlets_end": 7}, {"year": 2023, "state": "NC", "outlets_end": 37}, {"year": 2023, "state": "ND", "outlets_end": 11}, {"year": 2023, "state": "NE", "outlets_end": 15}, {"year": 2023, "state": "NH", "outlets_end": 13}, {"year": 2023, "state": "NJ", "outlets_end": 55}, {"year": 2023, "state": "NM", "outlets_end": 18}, {"year": 2023, "state": "NV", "outlets_end": 12}, {"year": 2023, "state": "NY", "outlets_end": 95}, {"year": 2023, "state": "OH", "outlets_end": 76}, {"year": 2023, "state": "OK", "outlets_end": 11}, {"year": 2023, "state": "OR", "outlets_end": 17}, {"year": 2023, "state": "PA", "outlets_end": 75}, {"year": 2023, "state": "RI", "outlets_end": 7}, {"year": 2023, "state": "SC", "outlets_end": 27}, {"year": 2023, "state": "SD", "outlets_end": 6}, {"year": 2023, "state": "TN", "outlets_end": 28}, {"year": 2023, "state": "TX", "outlets_end": 91}, {"year": 2023, "state": "UT", "outlets_end": 9}, {"year": 2023, "state": "VA", "outlets_end": 48}, {"year": 2023, "state": "VT", "outlets_end": 3}, {"year": 2023, "state": "WA", "outlets_end": 40}, {"year": 2023, "state": "WI", "outlets_end": 26}, {"year": 2023, "state": "WV", "outlets_end": 14}, {"year": 2023, "state": "WY", "outlets_end": 4}, {"year": 2024, "state": "AK", "outlets_end": 1}, {"year": 2024, "state": "AL", "outlets_end": 30}, {"year": 2024, "state": "AR", "outlets_end": 5}, {"year": 2024, "state": "AZ", "outlets_end": 20}, {"year": 2024, "state": "CA", "outlets_end": 103}, {"year": 2024, "state": "CO", "outlets_end": 22}, {"year": 2024, "state": "CT", "outlets_end": 5}, {"year": 2024, "state": "DE", "outlets_end": 12}, {"year": 2024, "state": "FL", "outlets_end": 87}, {"year": 2024, "state": "GA", "outlets_end": 24}, {"year": 2024, "state": "HI", "outlets_end": 0}, {"year": 2024, "state": "IA", 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"outlets_end": 18}, {"year": 2024, "state": "NV", "outlets_end": 11}, {"year": 2024, "state": "NY", "outlets_end": 94}, {"year": 2024, "state": "OH", "outlets_end": 75}, {"year": 2024, "state": "OK", "outlets_end": 11}, {"year": 2024, "state": "OR", "outlets_end": 17}, {"year": 2024, "state": "PA", "outlets_end": 75}, {"year": 2024, "state": "RI", "outlets_end": 6}, {"year": 2024, "state": "SC", "outlets_end": 26}, {"year": 2024, "state": "SD", "outlets_end": 6}, {"year": 2024, "state": "TN", "outlets_end": 22}, {"year": 2024, "state": "TX", "outlets_end": 86}, {"year": 2024, "state": "UT", "outlets_end": 9}, {"year": 2024, "state": "VA", "outlets_end": 46}, {"year": 2024, "state": "VT", "outlets_end": 3}, {"year": 2024, "state": "WA", "outlets_end": 40}, {"year": 2024, "state": "WI", "outlets_end": 24}, {"year": 2024, "state": "WV", "outlets_end": 14}, {"year": 2024, "state": "WY", "outlets_end": 3}, {"year": 2025, "state": "AK", "outlets_end": 1}, {"year": 2025, "state": "AL", "outlets_end": 29}, {"year": 2025, "state": "AR", "outlets_end": 4}, {"year": 2025, "state": "AZ", "outlets_end": 20}, {"year": 2025, "state": "CA", "outlets_end": 102}, {"year": 2025, "state": "CO", "outlets_end": 22}, {"year": 2025, "state": "CT", "outlets_end": 5}, {"year": 2025, "state": "DE", "outlets_end": 12}, {"year": 2025, "state": "FL", "outlets_end": 78}, {"year": 2025, "state": "GA", "outlets_end": 24}, {"year": 2025, "state": "HI", "outlets_end": 0}, {"year": 2025, "state": "IA", "outlets_end": 25}, {"year": 2025, "state": "ID", "outlets_end": 12}, {"year": 2025, "state": "IL", "outlets_end": 30}, {"year": 2025, "state": "IN", "outlets_end": 54}, {"year": 2025, "state": "KS", "outlets_end": 21}, {"year": 2025, "state": "KY", "outlets_end": 19}, {"year": 2025, "state": "LA", "outlets_end": 12}, {"year": 2025, "state": "MA", "outlets_end": 24}, {"year": 2025, "state": "MD", "outlets_end": 17}, {"year": 2025, "state": "ME", "outlets_end": 12}, {"year": 2025, "state": "MI", "outlets_end": 81}, {"year": 2025, "state": "MN", "outlets_end": 45}, {"year": 2025, "state": "MO", "outlets_end": 39}, {"year": 2025, "state": "MS", "outlets_end": 17}, {"year": 2025, "state": "MT", "outlets_end": 7}, {"year": 2025, "state": "NC", "outlets_end": 37}, {"year": 2025, "state": "ND", "outlets_end": 11}, {"year": 2025, "state": "NE", "outlets_end": 14}, {"year": 2025, "state": "NH", "outlets_end": 13}, {"year": 2025, "state": "NJ", "outlets_end": 55}, {"year": 2025, "state": "NM", "outlets_end": 18}, {"year": 2025, "state": "NV", "outlets_end": 11}, {"year": 2025, "state": "NY", "outlets_end": 91}, {"year": 2025, "state": "OH", "outlets_end": 75}, {"year": 2025, "state": "OK", "outlets_end": 6}, {"year": 2025, "state": "OR", "outlets_end": 16}, {"year": 2025, "state": "PA", "outlets_end": 74}, {"year": 2025, "state": "RI", "outlets_end": 6}, {"year": 2025, "state": "SC", "outlets_end": 26}, {"year": 2025, "state": "SD", "outlets_end": 5}, {"year": 2025, "state": "TN", "outlets_end": 22}, {"year": 2025, "state": "TX", "outlets_end": 89}, {"year": 2025, "state": "UT", "outlets_end": 9}, {"year": 2025, "state": "VA", "outlets_end": 45}, {"year": 2025, "state": "VT", "outlets_end": 3}, {"year": 2025, "state": "WA", "outlets_end": 40}, {"year": 2025, "state": "WI", "outlets_end": 19}, {"year": 2025, "state": "WV", "outlets_end": 14}, {"year": 2025, "state": "WY", "outlets_end": 2}], "agreement_terms": null, "brand_metrics": {"total_outlets": 1475, "franchised_outlets": 1416, "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": 1, "closure_note": null, "growth_pct": -4.3, "growth_outlets_from": 1542, "growth_outlets_to": 1475, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": 8.25, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "twin-peaks", "alternative_name": "Twin Peaks", "same_sub_category": 1, "alternative_investment_low_usd": 2959000, "investment_gap_usd": 233516, "alternative_total_outlets": 108}, {"rank": 2, "alternative_slug": "patsy-s-italian-restaurant", "alternative_name": "Patsy's Italian Restaurant", "same_sub_category": 1, "alternative_investment_low_usd": 2853500, "investment_gap_usd": 339016, "alternative_total_outlets": 1}, {"rank": 3, "alternative_slug": "fogo-de-ch-o", "alternative_name": "Fogo de Chão", "same_sub_category": 1, "alternative_investment_low_usd": 2680000, "investment_gap_usd": 512516, "alternative_total_outlets": null}, {"rank": 4, "alternative_slug": "ruth-s-chris-steak-house", "alternative_name": "Ruth's Chris Steak House", "same_sub_category": 1, "alternative_investment_low_usd": 2502000, "investment_gap_usd": 690516, "alternative_total_outlets": 137}, {"rank": 5, "alternative_slug": "chili-s", "alternative_name": "Chili's", "same_sub_category": 1, "alternative_investment_low_usd": 3959695, "investment_gap_usd": 767179, "alternative_total_outlets": 1230}, {"rank": 6, "alternative_slug": "carrabba-s-italian-grill", "alternative_name": "Carrabba's Italian Grill", "same_sub_category": 1, "alternative_investment_low_usd": 4260000, "investment_gap_usd": 1067484, "alternative_total_outlets": 218}, {"rank": 7, "alternative_slug": "bombshells-restaurant-and-bar", "alternative_name": "Bombshells Restaurant and Bar", "same_sub_category": 1, "alternative_investment_low_usd": 2094000, "investment_gap_usd": 1098516, "alternative_total_outlets": 12}, {"rank": 8, "alternative_slug": "outback-steakhouse", "alternative_name": "Outback Steakhouse", "same_sub_category": 1, "alternative_investment_low_usd": 4303000, "investment_gap_usd": 1110484, "alternative_total_outlets": 694}, {"rank": 9, "alternative_slug": "bonefish-grill", "alternative_name": "Bonefish Grill", "same_sub_category": 1, "alternative_investment_low_usd": 4303000, "investment_gap_usd": 1110484, "alternative_total_outlets": 185}, {"rank": 10, "alternative_slug": "honest", "alternative_name": "Honest", "same_sub_category": 1, "alternative_investment_low_usd": 1862000, "investment_gap_usd": 1330516, "alternative_total_outlets": 40}], "peer_ranks": [{"metric": "inv_low", "value": 3192516, "rank": 62, "peers": 67, "peer_median": 729000, "rank_order": "lowest first", "peer_group": "Casual Dining"}, {"metric": "fee_low", "value": 35000, "rank": 21, "peers": 67, "peer_median": 39500, "rank_order": "lowest first", "peer_group": "Casual Dining"}, {"metric": "royalty", "value": 4, "rank": 5, "peers": 67, "peer_median": 5, "rank_order": "lowest first", "peer_group": "Casual Dining"}, {"metric": "allin", "value": 8.25, "rank": 56, "peers": 67, "peer_median": 7, "rank_order": "lowest first", "peer_group": "Casual Dining"}, {"metric": "outlets", "value": 1475, "rank": 1, "peers": 67, "peer_median": 34, "rank_order": "highest first", "peer_group": "Casual Dining"}, {"metric": "growth", "value": -4.3, "rank": 25, "peers": 35, "peer_median": -2.2, "rank_order": "highest first", "peer_group": "Casual Dining"}, {"metric": "closure", "value": 2.5, "rank": 7, "peers": 28, "peer_median": 4.25, "rank_order": "lowest first", "peer_group": "Casual Dining"}], "value_ratios": {"comparable_annual_revenue_usd": 2822904, "investment_midpoint_usd": 4134347, "revenue_to_investment": 0.68, "royalty_pct": 4, "revenue_per_royalty_point_usd": 705726}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 1578, "closures": 37, "closures_not_itemized": 0, "closure_rate_pct": 2.3}, {"year": 2024, "franchised_outlets_start": 1545, "closures": 35, "closures_not_itemized": 0, "closure_rate_pct": 2.3}, {"year": 2025, "franchised_outlets_start": 1463, "closures": 41, "closures_not_itemized": 0, "closure_rate_pct": 2.8}]}
{"brand_slug": "ar-homes", "brand_name": "AR Homes", "legal_name": "AR FRANCHISING, INC.", "industry": "real-estate", "industry_label": "Real Estate", "sub_category": "Luxury Residential", "fdd_year": 2024, "fdd_filing_state": "MN", "fdd_effective_date": "2024-05-01", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/ar-homes/", "hand_checked": 1, "corrections_logged": 4, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 65000, "initial_fee_high_usd": 65000, "royalty_pct": 3.5, "royalty_min_monthly_usd": null, "marketing_fee_pct": 0.25, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 1000, "total_investment_low_usd": 535000, "total_investment_high_usd": 2190000, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "total_revenue", "metric_label": "Closing Revenue", "cohort": "all_franchised", "cohort_label": "29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results", "outlet_count": 29, "period": "2023 Calendar Year", "year": 2023, "unit_period": "annual", "scope": "franchisee", "avg_value": 19790221, "median_value": 18125591, "min_value": 1267214, "max_value": 51263399, "fdd_page": 48}, {"metric": "gross_profit", "metric_label": "Gross Profit", "cohort": "all_franchised", "cohort_label": "29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results", "outlet_count": 29, "period": "2023 Calendar Year", "year": 2023, "unit_period": "annual", "scope": "franchisee", "avg_value": 2938578, "median_value": 2237139, "min_value": 258525, "max_value": 12265251, "fdd_page": 48}, {"metric": "net_profit", "metric_label": "Adj. Net Income (Net Income plus owner compensation)", "cohort": "all_franchised", "cohort_label": "29 of the 41 active franchised AR Homes Building Companies that closed a home in 2023 and reported full-year results", "outlet_count": 29, "period": "2023 Calendar Year", "year": 2023, "unit_period": "annual", "scope": "franchisee", "avg_value": 1121735, "median_value": 486453, "min_value": -357291, "max_value": 8083158, "fdd_page": 48}], "comparable_revenue": {"annual_revenue_usd": 18125591.0, "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)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2021, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2021, "outlet_type": "franchised", "outlets_start": 46, "outlets_end": 42}, {"year": 2021, "outlet_type": "total", "outlets_start": 46, "outlets_end": 42}, {"year": 2022, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2022, "outlet_type": "franchised", "outlets_start": 42, "outlets_end": 46}, {"year": 2022, "outlet_type": "total", "outlets_start": 42, "outlets_end": 46}, {"year": 2023, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 46, "outlets_end": 42}, {"year": 2023, "outlet_type": "total", "outlets_start": 46, "outlets_end": 42}], "turnover_by_year": [{"year": 2021, "outlets_start": 46, "opened": 1, "terminated": 1, "non_renewed": 0, "reacquired": 0, "ceased_other": 4, "transferred": null, "outlets_end": 42}, {"year": 2022, "outlets_start": 42, "opened": 5, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 1, "transferred": null, "outlets_end": 46}, {"year": 2023, "outlets_start": 46, "opened": 1, "terminated": 5, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": null, "outlets_end": 42}], "outlets_by_state": [{"year": 2021, "state": "AL", "outlets_end": 1}, {"year": 2021, "state": "FL", "outlets_end": 19}, {"year": 2021, "state": "GA", "outlets_end": 2}, {"year": 2021, "state": "IN", "outlets_end": 2}, {"year": 2021, "state": "NC", "outlets_end": 7}, {"year": 2021, "state": "OH", "outlets_end": 2}, {"year": 2021, "state": "SC", "outlets_end": 4}, {"year": 2021, "state": "TN", "outlets_end": 3}, {"year": 2021, "state": "TX", "outlets_end": 1}, {"year": 2021, "state": "VA", "outlets_end": 1}, {"year": 2022, "state": "AL", "outlets_end": 1}, {"year": 2022, "state": "FL", "outlets_end": 20}, {"year": 2022, "state": "GA", "outlets_end": 2}, {"year": 2022, "state": "IN", "outlets_end": 2}, {"year": 2022, "state": "NC", "outlets_end": 6}, {"year": 2022, "state": "OH", "outlets_end": 2}, {"year": 2022, "state": "SC", "outlets_end": 4}, {"year": 2022, "state": "TN", "outlets_end": 3}, {"year": 2022, "state": "TX", "outlets_end": 4}, {"year": 2022, "state": "VA", "outlets_end": 2}, {"year": 2023, "state": "AL", "outlets_end": 1}, {"year": 2023, "state": "FL", "outlets_end": 19}, {"year": 2023, "state": "GA", "outlets_end": 2}, {"year": 2023, "state": "IN", "outlets_end": 2}, {"year": 2023, "state": "NC", "outlets_end": 6}, {"year": 2023, "state": "OH", "outlets_end": 1}, {"year": 2023, "state": "SC", "outlets_end": 4}, {"year": 2023, "state": "TN", "outlets_end": 3}, {"year": 2023, "state": "TX", "outlets_end": 3}, {"year": 2023, "state": "VA", "outlets_end": 1}], "agreement_terms": null, "brand_metrics": {"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": 1, "closure_note": null, "growth_pct": 0.0, "growth_outlets_from": 42, "growth_outlets_to": 42, "growth_year_from": 2021, "growth_year_to": 2023, "growth_ranking_eligible": 1, "all_in_fee_pct": 3.75, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "engel-v-lkers", "alternative_name": "Engel & Völkers", "same_sub_category": 1, "alternative_investment_low_usd": 108690, "investment_gap_usd": 426310, "alternative_total_outlets": 239}, {"rank": 2, "alternative_slug": "the-oceanaire-realty", "alternative_name": "The Oceanaire Realty", "same_sub_category": 1, "alternative_investment_low_usd": 81700, "investment_gap_usd": 453300, "alternative_total_outlets": 2}, {"rank": 3, "alternative_slug": "christie-s-international-real-estate", "alternative_name": "Christie's International Real Estate", "same_sub_category": 1, "alternative_investment_low_usd": 64475, "investment_gap_usd": 470525, "alternative_total_outlets": 40}, {"rank": 4, "alternative_slug": "corcoran", "alternative_name": "Corcoran", "same_sub_category": 1, "alternative_investment_low_usd": 62150, "investment_gap_usd": 472850, "alternative_total_outlets": 134}, {"rank": 5, "alternative_slug": "sotheby-s-international-realty", "alternative_name": "Sotheby's International Realty", "same_sub_category": 1, "alternative_investment_low_usd": 47250, "investment_gap_usd": 487750, "alternative_total_outlets": 718}, {"rank": 6, "alternative_slug": "integra", "alternative_name": "Integra", "same_sub_category": 0, "alternative_investment_low_usd": 236000, "investment_gap_usd": 299000, "alternative_total_outlets": 49}, {"rank": 7, "alternative_slug": "linden-creek", "alternative_name": "Linden Creek", "same_sub_category": 0, "alternative_investment_low_usd": 227225, "investment_gap_usd": 307775, "alternative_total_outlets": 3}, {"rank": 8, "alternative_slug": "set-the-stage", "alternative_name": "Set the Stage", "same_sub_category": 0, "alternative_investment_low_usd": 204150, "investment_gap_usd": 330850, "alternative_total_outlets": 114}, {"rank": 9, "alternative_slug": "keller-williams-realty", "alternative_name": "Keller Williams Realty", "same_sub_category": 0, "alternative_investment_low_usd": 183647, "investment_gap_usd": 351353, "alternative_total_outlets": 810}, {"rank": 10, "alternative_slug": "ne-tiny-homes", "alternative_name": "NE Tiny Homes", "same_sub_category": 0, "alternative_investment_low_usd": 147000, "investment_gap_usd": 388000, "alternative_total_outlets": 1}], "peer_ranks": [{"metric": "inv_low", "value": 535000, "rank": 54, "peers": 55, "peer_median": 56465, "rank_order": "lowest first", "peer_group": "Real Estate"}, {"metric": "fee_low", "value": 65000, "rank": 52, "peers": 55, "peer_median": 25000, "rank_order": "lowest first", "peer_group": "Real Estate"}, {"metric": "royalty", "value": 3.5, "rank": 5, "peers": 35, "peer_median": 5.5, "rank_order": "lowest first", "peer_group": "Real Estate"}, {"metric": "allin", "value": 3.75, "rank": 6, "peers": 35, "peer_median": 6, "rank_order": "lowest first", "peer_group": "Real Estate"}, {"metric": "outlets", "value": 42, "rank": 38, "peers": 53, "peer_median": 105, "rank_order": "highest first", "peer_group": "Real Estate"}, {"metric": "growth", "value": 0.0, "rank": 14, "peers": 40, "peer_median": -6.5, "rank_order": "highest first", "peer_group": "Real Estate"}, {"metric": "closure", "value": 8.2, "rank": 18, "peers": 40, "peer_median": 8.55, "rank_order": "lowest first", "peer_group": "Real Estate"}], "value_ratios": {"comparable_annual_revenue_usd": 18125591, "investment_midpoint_usd": 1362500, "revenue_to_investment": 13.3, "royalty_pct": 3.5, "revenue_per_royalty_point_usd": 5178740}, "closure_by_year": [{"year": 2021, "franchised_outlets_start": 46, "closures": 5, "closures_not_itemized": 0, "closure_rate_pct": 10.9}, {"year": 2022, "franchised_outlets_start": 42, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 2.4}, {"year": 2023, "franchised_outlets_start": 46, "closures": 5, "closures_not_itemized": 0, "closure_rate_pct": 10.9}]}
{"brand_slug": "atc-healthcare-services", "brand_name": "ATC Healthcare Services", "legal_name": "ATC Healthcare Services, LLC", "industry": "staffing-employment", "industry_label": "Staffing & Employment", "sub_category": null, "fdd_year": 2026, "fdd_filing_state": "NASAA EFD", "fdd_effective_date": "2026-01-20", "fdd_source_url": "https://www.nasaaefd.org/Franchise/Search", "franchisedepth_url": "https://franchisedepth.com/franchise/atc-healthcare-services/", "hand_checked": 1, "corrections_logged": 2, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 30000, "initial_fee_high_usd": 50000, "royalty_pct": null, "royalty_min_monthly_usd": null, "marketing_fee_pct": 0, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": null, "total_investment_low_usd": 158500, "total_investment_high_usd": 302500, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "total_revenue", "metric_label": "Total Revenue of Reporting Franchises Open for 1-5 Years", "cohort": "open_24_plus_mo", "cohort_label": "Reporting Franchises Open for 1-5 Years (14 franchises)", "outlet_count": 14, "period": "fiscal year ended September 30, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 3536960, "median_value": 1518641, "min_value": 105577, "max_value": 13786163, "fdd_page": null}, {"metric": "other", "metric_label": "Gross Margin % of Reporting Franchises Open for 1-5 Years", "cohort": "open_24_plus_mo", "cohort_label": "Reporting Franchises Open for 1-5 Years (14 franchises)", "outlet_count": 14, "period": null, "year": 2025, "unit_period": null, "scope": null, "avg_value": 22, "median_value": 21, "min_value": 12, "max_value": 34, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Total Revenue of Reporting Franchises Open for 6-10 Years", "cohort": "open_36_plus_mo", "cohort_label": "Reporting Franchises Open for 6-10 Years (8 franchises)", "outlet_count": 8, "period": null, "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 1799504, "median_value": 2007974, "min_value": 444638, "max_value": 3654501, "fdd_page": null}, {"metric": "other", "metric_label": "Gross Margin % of Reporting Franchises Open for 6-10 Years", "cohort": "open_36_plus_mo", "cohort_label": "Reporting Franchises Open for 6-10 Years (8 franchises)", "outlet_count": 8, "period": null, "year": 2025, "unit_period": null, "scope": null, "avg_value": 25, "median_value": 23, "min_value": 18, "max_value": 37, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Total Revenue of Reporting Franchises Open for 11+ Years", "cohort": "open_60_plus_mo", "cohort_label": "Reporting Franchises Open for 11+ Years (11 franchises)", "outlet_count": 11, "period": null, "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 3485449, "median_value": 1966369, "min_value": 283978, "max_value": 10286436, "fdd_page": null}, {"metric": "other", "metric_label": "Gross Margin % of Reporting Franchises Open for 11+ Years", "cohort": "open_60_plus_mo", "cohort_label": "Reporting Franchises Open for 11+ Years (11 franchises)", "outlet_count": 11, "period": null, "year": 2025, "unit_period": null, "scope": null, "avg_value": 22, "median_value": 21, "min_value": 16, "max_value": 30, "fdd_page": null}, {"metric": "other", "metric_label": "Permanent Placements", "cohort": "all_franchised", "cohort_label": "Reporting Franchises Offering Permanent Placements (9 franchises)", "outlet_count": null, "period": "fiscal year ended September 30, 2025", "year": 2025, "unit_period": "annual", "scope": null, "avg_value": 18885, "median_value": 15707, "min_value": 1778, "max_value": 68273, "fdd_page": 53}], "comparable_revenue": {"annual_revenue_usd": 1518641.0, "basis": "median, Reporting Franchises Open for 1-5 Years (14 franchises) (14 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 60, "outlets_end": 65}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 5}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 65, "outlets_end": 34}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 5, "outlets_end": 0}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 34, "outlets_end": 34}], "turnover_by_year": [{"year": 2023, "outlets_start": 60, "opened": 12, "terminated": 5, "non_renewed": 0, "reacquired": 0, "ceased_other": 2, "transferred": null, "outlets_end": 65}, {"year": 2024, "outlets_start": 65, "opened": 1, "terminated": 28, "non_renewed": 0, "reacquired": 4, "ceased_other": 0, "transferred": null, "outlets_end": 34}, {"year": 2025, "outlets_start": 34, "opened": 1, "terminated": 1, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": null, "outlets_end": 34}], "outlets_by_state": [{"year": 2023, "state": "AL", "outlets_end": 3}, {"year": 2023, "state": "CA", "outlets_end": 11}, {"year": 2023, "state": "DE", "outlets_end": 1}, {"year": 2023, "state": "FL", "outlets_end": 7}, {"year": 2023, "state": "GA", "outlets_end": 4}, {"year": 2023, "state": "IL", "outlets_end": 1}, {"year": 2023, "state": "IN", "outlets_end": 4}, {"year": 2023, "state": "MD", "outlets_end": 1}, {"year": 2023, "state": "MI", "outlets_end": 5}, {"year": 2023, "state": "MO", "outlets_end": 1}, {"year": 2023, "state": "NC", "outlets_end": 1}, {"year": 2023, "state": "NJ", "outlets_end": 2}, {"year": 2023, "state": "NV", "outlets_end": 0}, {"year": 2023, "state": "NY", "outlets_end": 4}, {"year": 2023, "state": "OH", "outlets_end": 2}, {"year": 2023, "state": "OR", "outlets_end": 1}, {"year": 2023, "state": "PA", "outlets_end": 2}, {"year": 2023, "state": "SC", "outlets_end": 2}, {"year": 2023, "state": "TN", "outlets_end": 1}, {"year": 2023, "state": "TX", "outlets_end": 8}, {"year": 2023, "state": "VA", "outlets_end": 3}, {"year": 2023, "state": "WA", "outlets_end": 1}, {"year": 2024, "state": "AL", "outlets_end": 3}, {"year": 2024, "state": "CA", "outlets_end": 2}, {"year": 2024, "state": "DE", "outlets_end": 0}, {"year": 2024, "state": "FL", "outlets_end": 1}, {"year": 2024, "state": "GA", "outlets_end": 4}, {"year": 2024, "state": "IL", "outlets_end": 1}, {"year": 2024, "state": "IN", "outlets_end": 1}, {"year": 2024, "state": "MD", "outlets_end": 1}, {"year": 2024, "state": "MI", "outlets_end": 5}, {"year": 2024, "state": "MO", "outlets_end": 0}, {"year": 2024, "state": "NC", "outlets_end": 0}, {"year": 2024, "state": "NJ", "outlets_end": 2}, {"year": 2024, "state": "NV", "outlets_end": 0}, {"year": 2024, "state": "NY", "outlets_end": 5}, {"year": 2024, "state": "OH", "outlets_end": 1}, {"year": 2024, "state": "OR", "outlets_end": 1}, {"year": 2024, "state": "PA", "outlets_end": 2}, {"year": 2024, "state": "SC", "outlets_end": 2}, {"year": 2024, "state": "TN", "outlets_end": 0}, {"year": 2024, "state": "TX", "outlets_end": 0}, {"year": 2024, "state": "VA", "outlets_end": 2}, {"year": 2024, "state": "WA", "outlets_end": 1}, {"year": 2025, "state": "AL", "outlets_end": 3}, {"year": 2025, "state": "CA", "outlets_end": 2}, {"year": 2025, "state": "DE", "outlets_end": 0}, {"year": 2025, "state": "FL", "outlets_end": 1}, {"year": 2025, "state": "GA", "outlets_end": 4}, {"year": 2025, "state": "IL", "outlets_end": 1}, {"year": 2025, "state": "IN", "outlets_end": 1}, {"year": 2025, "state": "MD", "outlets_end": 1}, {"year": 2025, "state": "MI", "outlets_end": 5}, {"year": 2025, "state": "MO", "outlets_end": 0}, {"year": 2025, "state": "NC", "outlets_end": 0}, {"year": 2025, "state": "NJ", "outlets_end": 2}, {"year": 2025, "state": "NV", "outlets_end": 1}, {"year": 2025, "state": "NY", "outlets_end": 4}, {"year": 2025, "state": "OH", "outlets_end": 1}, {"year": 2025, "state": "OR", "outlets_end": 1}, {"year": 2025, "state": "PA", "outlets_end": 2}, {"year": 2025, "state": "SC", "outlets_end": 2}, {"year": 2025, "state": "TN", "outlets_end": 0}, {"year": 2025, "state": "TX", "outlets_end": 0}, {"year": 2025, "state": "VA", "outlets_end": 2}, {"year": 2025, "state": "WA", "outlets_end": 1}], "agreement_terms": null, "brand_metrics": {"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": 1, "closure_note": null, "growth_pct": -47.7, "growth_outlets_from": 65, "growth_outlets_to": 34, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": null, "all_in_basis": null}, "alternatives": [{"rank": 1, "alternative_slug": "signal", "alternative_name": "Signal", "same_sub_category": 0, "alternative_investment_low_usd": 160200, "investment_gap_usd": 1700, "alternative_total_outlets": 1883}, {"rank": 2, "alternative_slug": "labor-finders", "alternative_name": "Labor Finders", "same_sub_category": 0, "alternative_investment_low_usd": 153635, "investment_gap_usd": 4865, "alternative_total_outlets": 184}, {"rank": 3, "alternative_slug": "atwork", "alternative_name": "AtWork", "same_sub_category": 0, "alternative_investment_low_usd": 165000, "investment_gap_usd": 6500, "alternative_total_outlets": 90}, {"rank": 4, "alternative_slug": "pridestaff", "alternative_name": "PrideStaff", "same_sub_category": 0, "alternative_investment_low_usd": 151950, "investment_gap_usd": 6550, "alternative_total_outlets": null}, {"rank": 5, "alternative_slug": "silbar-security", "alternative_name": "Silbar Security", "same_sub_category": 0, "alternative_investment_low_usd": 145500, "investment_gap_usd": 13000, "alternative_total_outlets": 9}, {"rank": 6, "alternative_slug": "snapchef", "alternative_name": "Snapchef", "same_sub_category": 0, "alternative_investment_low_usd": 138140, "investment_gap_usd": 20360, "alternative_total_outlets": 4}, {"rank": 7, "alternative_slug": "spherion", "alternative_name": "Spherion", "same_sub_category": 0, "alternative_investment_low_usd": 132980, "investment_gap_usd": 25520, "alternative_total_outlets": 212}, {"rank": 8, "alternative_slug": "express-employment-professionals", "alternative_name": "Express Employment Professionals", "same_sub_category": 0, "alternative_investment_low_usd": 131000, "investment_gap_usd": 27500, "alternative_total_outlets": 791}, {"rank": 9, "alternative_slug": "nextaff", "alternative_name": "Nextaff", "same_sub_category": 0, "alternative_investment_low_usd": 126700, "investment_gap_usd": 31800, "alternative_total_outlets": 35}, {"rank": 10, "alternative_slug": "the-entrepreneur-s-source", "alternative_name": "The Entrepreneur's Source", "same_sub_category": 0, "alternative_investment_low_usd": 114350, "investment_gap_usd": 44150, "alternative_total_outlets": null}], "peer_ranks": [{"metric": "inv_low", "value": 158500, "rank": 28, "peers": 30, "peer_median": 77791.5, "rank_order": "lowest first", "peer_group": "Staffing & Employment"}, {"metric": "fee_low", "value": 30000, "rank": 10, "peers": 29, "peer_median": 37500, "rank_order": "lowest first", "peer_group": "Staffing & Employment"}, {"metric": "outlets", "value": 34, "rank": 15, "peers": 30, "peer_median": 33.0, "rank_order": "highest first", "peer_group": "Staffing & Employment"}, {"metric": "growth", "value": -47.7, "rank": 15, "peers": 15, "peer_median": -4.9, "rank_order": "highest first", "peer_group": "Staffing & Employment"}, {"metric": "closure", "value": 22.6, "rank": 13, "peers": 13, "peer_median": 10.2, "rank_order": "lowest first", "peer_group": "Staffing & Employment"}], "value_ratios": {"comparable_annual_revenue_usd": 1518641, "investment_midpoint_usd": 230500, "revenue_to_investment": 6.59, "royalty_pct": null, "revenue_per_royalty_point_usd": null}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 60, "closures": 7, "closures_not_itemized": 0, "closure_rate_pct": 11.7}, {"year": 2024, "franchised_outlets_start": 65, "closures": 28, "closures_not_itemized": 0, "closure_rate_pct": 43.1}, {"year": 2025, "franchised_outlets_start": 34, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 2.9}]}
{"brand_slug": "baja-fresh", "brand_name": "Baja Fresh", "legal_name": "BF Acquisition Holdings, LLC", "industry": "food-quick-service", "industry_label": "Food Quick Service", "sub_category": "Mexican", "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-03-27", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/baja-fresh/", "hand_checked": 1, "corrections_logged": 2, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 10000, "initial_fee_high_usd": 30000, "royalty_pct": 5, "royalty_min_monthly_usd": null, "marketing_fee_pct": 3, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 130, "total_investment_low_usd": 428560, "total_investment_high_usd": 1034290, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Average Gross Sales / Median Gross Sales", "cohort": "all_franchised", "cohort_label": "All franchised outlets", "outlet_count": 65, "period": "December 1, 2024 through November 30, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 822568, "median_value": 813419, "min_value": null, "max_value": null, "fdd_page": 83}, {"metric": "gross_sales", "metric_label": "Average Gross Sales / Median Gross Sales", "cohort": "performance_anchored", "cohort_label": "Top 20% franchised outlets", "outlet_count": 13, "period": "December 1, 2024 through November 30, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 1283451, "median_value": 1222206, "min_value": null, "max_value": null, "fdd_page": 83}, {"metric": "gross_sales", "metric_label": "Average Gross Sales / Median Gross Sales", "cohort": "performance_anchored", "cohort_label": "Bottom 20% franchised outlets", "outlet_count": 13, "period": "December 1, 2024 through November 30, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 359747, "median_value": 406368, "min_value": null, "max_value": null, "fdd_page": 83}], "comparable_revenue": {"annual_revenue_usd": 813419.0, "basis": "median, All franchised outlets (65 outlets)", "rule": "Gross sales or total revenue; 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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": null, "fdd_page": 75}, "brand_metrics": {"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": 1, "closure_note": null, "growth_pct": -12.8, "growth_outlets_from": 78, "growth_outlets_to": 68, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": 8, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "lucha-libre-gourmet-taco-shop", "alternative_name": "Lucha Libre Gourmet Taco Shop", "same_sub_category": 1, "alternative_investment_low_usd": 431000, "investment_gap_usd": 2440, "alternative_total_outlets": 3}, {"rank": 2, "alternative_slug": "burrito-parrilla-mexicana", "alternative_name": "Burrito Parrilla Mexicana", "same_sub_category": 1, "alternative_investment_low_usd": 437000, "investment_gap_usd": 8440, "alternative_total_outlets": 11}, {"rank": 3, "alternative_slug": "super-mex", "alternative_name": "Super Mex", "same_sub_category": 1, "alternative_investment_low_usd": 418644, "investment_gap_usd": 9916, "alternative_total_outlets": 11}, {"rank": 4, "alternative_slug": "barrio-burrito-bar", "alternative_name": "Barrio Burrito Bar", "same_sub_category": 1, "alternative_investment_low_usd": 418620, "investment_gap_usd": 9940, "alternative_total_outlets": 4}, {"rank": 5, "alternative_slug": "california-tortilla", "alternative_name": "California Tortilla", "same_sub_category": 1, "alternative_investment_low_usd": 443700, "investment_gap_usd": 15140, "alternative_total_outlets": 34}, {"rank": 6, "alternative_slug": "taco-pros", "alternative_name": "Taco Pros", "same_sub_category": 1, "alternative_investment_low_usd": 456500, "investment_gap_usd": 27940, "alternative_total_outlets": 9}, {"rank": 7, "alternative_slug": "tijuana-flats", "alternative_name": "Tijuana Flats", "same_sub_category": 1, "alternative_investment_low_usd": 469550, "investment_gap_usd": 40990, "alternative_total_outlets": 135}, {"rank": 8, "alternative_slug": "taco-maya", "alternative_name": "Taco Maya", "same_sub_category": 1, "alternative_investment_low_usd": 369000, "investment_gap_usd": 59560, "alternative_total_outlets": null}, {"rank": 9, "alternative_slug": "tio-juan-s-margaritas-mexican-restaurant", "alternative_name": "Tio Juan's Margaritas Mexican Restaurant", "same_sub_category": 1, "alternative_investment_low_usd": 488800, "investment_gap_usd": 60240, "alternative_total_outlets": 25}, {"rank": 10, "alternative_slug": "tacotime", "alternative_name": "TacoTime", "same_sub_category": 1, "alternative_investment_low_usd": 365650, "investment_gap_usd": 62910, "alternative_total_outlets": 100}], "peer_ranks": [{"metric": "inv_low", "value": 428560, "rank": 18, "peers": 40, "peer_median": 440350.0, "rank_order": "lowest first", "peer_group": "Mexican"}, {"metric": "fee_low", "value": 10000, "rank": 4, "peers": 42, "peer_median": 35000.0, "rank_order": "lowest first", "peer_group": "Mexican"}, {"metric": "royalty", "value": 5, "rank": 3, "peers": 40, "peer_median": 5.0, "rank_order": "lowest first", "peer_group": "Mexican"}, {"metric": "allin", "value": 8, "rank": 25, "peers": 40, "peer_median": 7.0, "rank_order": "lowest first", "peer_group": "Mexican"}, {"metric": "outlets", "value": 68, "rank": 12, "peers": 40, "peer_median": 22.5, "rank_order": "highest first", "peer_group": "Mexican"}, {"metric": "growth", "value": -12.8, "rank": 17, "peers": 20, "peer_median": -6.75, "rank_order": "highest first", "peer_group": "Mexican"}, {"metric": "closure", "value": 7.6, "rank": 13, "peers": 17, "peer_median": 6.2, "rank_order": "lowest first", "peer_group": "Mexican"}], "value_ratios": {"comparable_annual_revenue_usd": 813419, "investment_midpoint_usd": 731425, "revenue_to_investment": 1.11, "royalty_pct": 5, "revenue_per_royalty_point_usd": 162684}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 77, "closures": 6, "closures_not_itemized": 0, "closure_rate_pct": 7.8}, {"year": 2024, "franchised_outlets_start": 67, "closures": 5, "closures_not_itemized": 0, "closure_rate_pct": 7.5}, {"year": 2025, "franchised_outlets_start": 67, "closures": 5, "closures_not_itemized": 0, "closure_rate_pct": 7.5}]}
{"brand_slug": "batteries-plus", "brand_name": "Batteries Plus", "legal_name": "Batteries Plus, L.L.C.", "industry": "retail-services", "industry_label": "Retail Services", "sub_category": "Specialty Retail", "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-03-26", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/batteries-plus/", "hand_checked": 1, "corrections_logged": 4, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 15000, "initial_fee_high_usd": 49500, "royalty_pct": 5, "royalty_min_monthly_usd": null, "marketing_fee_pct": 1, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 1098, "total_investment_low_usd": 284786, "total_investment_high_usd": 536636, "liquid_capital_usd": 100000, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "other", "metric_label": "Merchandise Margin Percentage (Retail and Commercial)", "cohort": "all_franchised", "cohort_label": "490 Same Stores (franchised-owned, open at least 308 days, January 1, 2025 through November 2, 2025)", "outlet_count": 490, "period": "January 1, 2025 to December 31, 2025", "year": 2025, "unit_period": null, "scope": "franchisee", "avg_value": 51, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 53}, {"metric": "other", "metric_label": "Merchandise Margin Percentage - Retail", "cohort": 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{"brand_slug": "bella-bridesmaids", "brand_name": "Bella Bridesmaids", "legal_name": "Bella Bridesmaids Franchise Group, LLC", "industry": "retail-services", "industry_label": "Retail Services", "sub_category": "Specialty Retail", "fdd_year": 2024, "fdd_filing_state": "MN", "fdd_effective_date": "2024-05-01", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/bella-bridesmaids/", "hand_checked": 1, "corrections_logged": 5, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 50000, "initial_fee_high_usd": 50000, "royalty_pct": 4, "royalty_min_monthly_usd": 600, "marketing_fee_pct": null, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 125, "total_investment_low_usd": 102900, "total_investment_high_usd": 262000, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "average annual gross revenue", "cohort": "all_franchised", "cohort_label": "41 franchised stores operational entire 2023 calendar year", "outlet_count": 41, "period": "2023 calendar year", "year": 2023, "unit_period": "annual", "scope": "franchisee", "avg_value": 363289, "median_value": 290315, "min_value": 84031, "max_value": 1000688, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "average gross revenues", "cohort": "other", "cohort_label": "45 stores (41 franchised + 4 company-owned) operational entire 2023 calendar year", "outlet_count": 45, "period": "2023 calendar year", "year": 2023, "unit_period": "annual", "scope": "franchisee", "avg_value": 373189, "median_value": 290315, "min_value": 84030.64, "max_value": 1000688, "fdd_page": null}], "comparable_revenue": {"annual_revenue_usd": 290315.0, "basis": "median, 41 franchised stores operational entire 2023 calendar year (41 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2021, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 1}, {"year": 2021, "outlet_type": "franchised", "outlets_start": 57, "outlets_end": 57}, {"year": 2021, "outlet_type": "total", "outlets_start": 58, "outlets_end": 58}, {"year": 2022, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 2}, {"year": 2022, "outlet_type": "franchised", "outlets_start": 57, "outlets_end": 55}, {"year": 2022, "outlet_type": "total", "outlets_start": 58, "outlets_end": 57}, {"year": 2023, "outlet_type": 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"same_sub_category": 1, "alternative_investment_low_usd": 78500, "investment_gap_usd": 24400, "alternative_total_outlets": 5}], "peer_ranks": [{"metric": "inv_low", "value": 102900, "rank": 16, "peers": 72, "peer_median": 170207.5, "rank_order": "lowest first", "peer_group": "Specialty Retail"}, {"metric": "fee_low", "value": 50000, "rank": 66, "peers": 71, "peer_median": 29500, "rank_order": "lowest first", "peer_group": "Specialty Retail"}, {"metric": "royalty", "value": 4, "rank": 10, "peers": 61, "peer_median": 5, "rank_order": "lowest first", "peer_group": "Specialty Retail"}, {"metric": "allin", "value": 4, "rank": 2, "peers": 61, "peer_median": 7, "rank_order": "lowest first", "peer_group": "Specialty Retail"}, {"metric": "outlets", "value": 45, "rank": 35, "peers": 70, "peer_median": 44.0, "rank_order": "highest first", "peer_group": "Specialty Retail"}, {"metric": "growth", "value": -22.4, "rank": 41, "peers": 44, "peer_median": -2.95, "rank_order": "highest first", "peer_group": "Specialty Retail"}, {"metric": "closure", "value": 7.7, "rank": 28, "peers": 40, "peer_median": 5.0, "rank_order": "lowest first", "peer_group": "Specialty Retail"}], "value_ratios": {"comparable_annual_revenue_usd": 290315, "investment_midpoint_usd": 182450, "revenue_to_investment": 1.59, "royalty_pct": 4, "revenue_per_royalty_point_usd": 72579}, "closure_by_year": [{"year": 2021, "franchised_outlets_start": 57, "closures": 0, "closures_not_itemized": 0, "closure_rate_pct": 0.0}, {"year": 2022, "franchised_outlets_start": 57, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 1.8}, {"year": 2023, "franchised_outlets_start": 55, "closures": 12, "closures_not_itemized": 0, "closure_rate_pct": 21.8}]}
{"brand_slug": "cd-one-price-cleaners", "brand_name": "CD ONE Price Cleaners", "legal_name": "CLEANERS DEPOT FRANCHISE, LLC", "industry": "dry-cleaning", "industry_label": "Dry Cleaning", "sub_category": null, "fdd_year": 2024, "fdd_filing_state": "MN", "fdd_effective_date": "2024-05-22", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/cd-one-price-cleaners/", "hand_checked": 1, "corrections_logged": 12, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 6000, "initial_fee_high_usd": 30000, "royalty_pct": 6.5, "royalty_min_monthly_usd": null, "marketing_fee_pct": 3, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": null, "total_investment_low_usd": 903225, "total_investment_high_usd": 1351850, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Gross Revenue", "cohort": "performance_anchored", "cohort_label": "Top Third Plant Stores (by 2023 Gross Revenue)", "outlet_count": 11, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": "annual", "scope": null, "avg_value": 1367307, "median_value": 1232941, "min_value": 1115602, "max_value": 2306859, "fdd_page": 63}, {"metric": "gross_sales", "metric_label": "Gross Revenue", "cohort": "performance_anchored", "cohort_label": "Middle Third Plant Stores (by 2023 Gross Revenue)", "outlet_count": 12, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": "annual", "scope": null, "avg_value": 1031729, "median_value": 1075802, "min_value": 911824, "max_value": 1114301, "fdd_page": 63}, {"metric": "gross_sales", "metric_label": "Gross Revenue", "cohort": "performance_anchored", "cohort_label": "Bottom Third Plant Stores (by 2023 Gross Revenue)", "outlet_count": 11, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": "annual", "scope": null, "avg_value": 780958, "median_value": 789735, "min_value": 677702, "max_value": 888244, "fdd_page": 63}, {"metric": "gross_sales", "metric_label": "Gross Revenue", "cohort": "all_franchised", "cohort_label": "All 34 Revenue Reporting Plant Stores", "outlet_count": 34, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": "annual", "scope": null, "avg_value": 1059167, "median_value": 1075802, "min_value": 677702, "max_value": 2306859, "fdd_page": 63}, {"metric": "gross_sales", "metric_label": "Gross Revenue", "cohort": "all_franchised", "cohort_label": "All 4 Revenue Reporting Satellite Stores", "outlet_count": 4, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": "annual", "scope": null, "avg_value": 376749, "median_value": 407712, "min_value": 260525, "max_value": 431047, "fdd_page": 63}, {"metric": "occupancy_pct", "metric_label": "Occupancy Costs (as % of Gross Revenue)", "cohort": "all_franchised", "cohort_label": "Cost Reporting Stores (32 stores: 28 Plant, 4 Satellite)", "outlet_count": 32, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": null, "scope": null, "avg_value": 11.7, "median_value": 12, "min_value": null, "max_value": null, "fdd_page": 64}, {"metric": "labor_pct", "metric_label": "Labor Costs (as % of Gross Revenue)", "cohort": "all_franchised", "cohort_label": "Cost Reporting Stores (32 stores)", "outlet_count": 32, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": null, "scope": null, "avg_value": 37.5, "median_value": 38.6, "min_value": null, "max_value": null, "fdd_page": 64}, {"metric": "other", "metric_label": "Production Supplies Costs (as % of Gross Revenue)", "cohort": "all_franchised", "cohort_label": "Cost Reporting Stores (32 stores)", "outlet_count": 32, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": null, "scope": null, "avg_value": 8.2, "median_value": 7.8, "min_value": null, "max_value": null, "fdd_page": 64}, {"metric": "other", "metric_label": "Electricity Costs (as % of Gross Revenue)", "cohort": "all_franchised", "cohort_label": "Cost Reporting Stores (32 stores)", "outlet_count": 32, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": null, "scope": null, "avg_value": 1.6, "median_value": 1.5, "min_value": null, "max_value": null, "fdd_page": 64}, {"metric": "other", "metric_label": "Natural Gas Costs (as % of Gross Revenue)", "cohort": "all_franchised", "cohort_label": "Cost Reporting Stores (32 stores)", "outlet_count": 32, "period": "2023 Fiscal Year (Dec 31, 2022 - Dec 29, 2023)", "year": 2023, "unit_period": null, "scope": null, "avg_value": 1.6, "median_value": 1.4, "min_value": null, "max_value": null, "fdd_page": 64}], "comparable_revenue": {"annual_revenue_usd": 1075802.0, "basis": "median, All 34 Revenue Reporting Plant Stores (34 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2021, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 1}, {"year": 2021, "outlet_type": "franchised", "outlets_start": 35, "outlets_end": 36}, {"year": 2021, "outlet_type": "total", "outlets_start": 36, "outlets_end": 37}, {"year": 2022, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 0}, {"year": 2022, "outlet_type": "franchised", "outlets_start": 36, "outlets_end": 38}, {"year": 2022, "outlet_type": "total", "outlets_start": 37, "outlets_end": 38}, {"year": 2023, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 0}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 38, "outlets_end": 40}, {"year": 2023, "outlet_type": "total", "outlets_start": 38, "outlets_end": 40}], "turnover_by_year": [{"year": 2021, "outlets_start": 35, "opened": 1, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": 2, "outlets_end": 36}, {"year": 2022, "outlets_start": 36, "opened": 2, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": 2, "outlets_end": 38}, {"year": 2023, "outlets_start": 38, "opened": 2, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": 4, "outlets_end": 40}], "outlets_by_state": [{"year": 2021, "state": "IL", "outlets_end": 34}, {"year": 2021, "state": "IN", "outlets_end": 1}, {"year": 2021, "state": "MN", "outlets_end": 0}, {"year": 2021, "state": "MO", "outlets_end": 1}, {"year": 2022, "state": "IL", "outlets_end": 35}, {"year": 2022, "state": "IN", "outlets_end": 1}, {"year": 2022, "state": "MN", "outlets_end": 1}, {"year": 2022, "state": "MO", "outlets_end": 1}, {"year": 2023, "state": "IL", "outlets_end": 37}, {"year": 2023, "state": "IN", "outlets_end": 1}, {"year": 2023, "state": "MN", "outlets_end": 1}, {"year": 2023, "state": "MO", "outlets_end": 1}], "agreement_terms": null, "brand_metrics": {"total_outlets": 40, "franchised_outlets": 40, "company_outlets": 0, "states_count": 4, "closure_rate_pct": 0.0, "closures": 0, "closures_not_itemized": 0, "reacquired": 0, "franchised_outlet_years": 109, "closure_year_from": 2021, "closure_year_to": 2023, "closure_ranking_eligible": 1, "closure_note": null, "growth_pct": 8.1, "growth_outlets_from": 37, "growth_outlets_to": 40, "growth_year_from": 2021, "growth_year_to": 2023, "growth_ranking_eligible": 1, "all_in_fee_pct": 9.5, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "zips-cleaners", "alternative_name": "ZIPS Cleaners", "same_sub_category": 0, "alternative_investment_low_usd": 867700, "investment_gap_usd": 35525, "alternative_total_outlets": 72}, {"rank": 2, "alternative_slug": "laundrolab", "alternative_name": "LaundroLab", "same_sub_category": 0, "alternative_investment_low_usd": 1182500, "investment_gap_usd": 279275, "alternative_total_outlets": 12}, {"rank": 3, "alternative_slug": "speed-queen", "alternative_name": "Speed Queen", "same_sub_category": 0, "alternative_investment_low_usd": 1199663, "investment_gap_usd": 296438, "alternative_total_outlets": 32}, {"rank": 4, "alternative_slug": "laundry-spot", "alternative_name": "Laundry Spot", "same_sub_category": 0, "alternative_investment_low_usd": 1268500, "investment_gap_usd": 365275, "alternative_total_outlets": 4}, {"rank": 5, "alternative_slug": "martinizing", "alternative_name": "Martinizing", "same_sub_category": 0, "alternative_investment_low_usd": 426748, "investment_gap_usd": 476477, "alternative_total_outlets": null}, {"rank": 6, "alternative_slug": "door-to-door-laundry", "alternative_name": "Door to Door Laundry", "same_sub_category": 0, "alternative_investment_low_usd": 393783, "investment_gap_usd": 509442, "alternative_total_outlets": 1}, {"rank": 7, "alternative_slug": "wavemax-laundry", "alternative_name": "WaveMAX Laundry", "same_sub_category": 0, "alternative_investment_low_usd": 359105, "investment_gap_usd": 544120, "alternative_total_outlets": 66}, {"rank": 8, "alternative_slug": "mulberrys-garment-care", "alternative_name": "Mulberrys Garment Care", "same_sub_category": 0, "alternative_investment_low_usd": 353500, "investment_gap_usd": 549725, "alternative_total_outlets": 13}, {"rank": 9, "alternative_slug": "tide-laundromat", "alternative_name": "Tide Laundromat", "same_sub_category": 0, "alternative_investment_low_usd": 1751885, "investment_gap_usd": 848660, "alternative_total_outlets": 8}, {"rank": 10, "alternative_slug": "bubbly", "alternative_name": "Bubbly", "same_sub_category": 0, "alternative_investment_low_usd": 47585, "investment_gap_usd": 855640, "alternative_total_outlets": 3}], "peer_ranks": [{"metric": "inv_low", "value": 903225, "rank": 8, "peers": 12, "peer_median": 647224.0, "rank_order": "lowest first", "peer_group": "Dry Cleaning"}, {"metric": "fee_low", "value": 6000, "rank": 1, "peers": 11, "peer_median": 20000, "rank_order": "lowest first", "peer_group": "Dry Cleaning"}, {"metric": "royalty", "value": 6.5, "rank": 11, "peers": 12, "peer_median": 6.0, "rank_order": "lowest first", "peer_group": "Dry Cleaning"}, {"metric": "allin", "value": 9.5, "rank": 10, "peers": 12, "peer_median": 7.5, "rank_order": "lowest first", "peer_group": "Dry Cleaning"}, {"metric": "outlets", "value": 40, "rank": 4, "peers": 11, "peer_median": 13, "rank_order": "highest first", "peer_group": "Dry Cleaning"}], "value_ratios": {"comparable_annual_revenue_usd": 1075802, "investment_midpoint_usd": 1127537, "revenue_to_investment": 0.95, "royalty_pct": 6.5, "revenue_per_royalty_point_usd": 165508}, "closure_by_year": [{"year": 2021, "franchised_outlets_start": 35, "closures": 0, "closures_not_itemized": 0, "closure_rate_pct": 0.0}, {"year": 2022, "franchised_outlets_start": 36, "closures": 0, "closures_not_itemized": 0, "closure_rate_pct": 0.0}, {"year": 2023, "franchised_outlets_start": 38, "closures": 0, "closures_not_itemized": 0, "closure_rate_pct": 0.0}]}
{"brand_slug": "complete-weddings-events", "brand_name": "Complete Weddings + Events", "legal_name": "Complete Music, Inc.", "industry": "entertainment-recreation", "industry_label": "Entertainment & Recreation", "sub_category": null, "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-04-21", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/complete-weddings-events/", "hand_checked": 1, "corrections_logged": 7, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 15000, "initial_fee_high_usd": 50000, "royalty_pct": 8, "royalty_min_monthly_usd": null, "marketing_fee_pct": 2, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 623, "total_investment_low_usd": 68800, "total_investment_high_usd": 80750, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Gross Receipts", "cohort": "all_franchised", "cohort_label": "Franchised businesses open the full 2025 calendar year (70 of 81; 7 opened in 2025 and 4 transferred excluded)", "outlet_count": 70, "period": "Calendar Year 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 322160.76, "median_value": 208376.66, "min_value": 21119, "max_value": 2393115.6, "fdd_page": 33}, {"metric": "gross_sales", "metric_label": "Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Top Third of the 70 franchised businesses by 2025 Gross Receipts", "outlet_count": 23, "period": "Calendar Year 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 645897.24, "median_value": 485160, "min_value": 328666.27, "max_value": 2393115.6, "fdd_page": 33}, {"metric": "gross_sales", "metric_label": "Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Middle Third of the 70 franchised businesses by 2025 Gross Receipts", "outlet_count": 23, "period": "Calendar Year 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 228358.94, "median_value": 218935.21, "min_value": 160642.5, "max_value": 312130, "fdd_page": 33}, {"metric": "gross_sales", "metric_label": "Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Bottom Third of the 70 franchised businesses by 2025 Gross Receipts", "outlet_count": 24, "period": "Calendar Year 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 101806.7, "median_value": 103477.73, "min_value": 21119, "max_value": 153685, "fdd_page": 33}, {"metric": "gross_sales", "metric_label": "Gross Receipts", "cohort": "all_company_owned", "cohort_label": "Affiliate-owned business (Iowa and Nebraska territory), full 2025 calendar year", "outlet_count": 1, "period": "Calendar Year 2025", "year": 2025, "unit_period": "annual", "scope": "company-owned", "avg_value": 2061551.14, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 33}], "comparable_revenue": {"annual_revenue_usd": 208376.66, "basis": "median, Franchised businesses open the full 2025 calendar year (70 of 81; 7 opened in 2025 and 4 transferred excluded) (70 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 1}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 66, "outlets_end": 68}, {"year": 2023, "outlet_type": "total", "outlets_start": 67, "outlets_end": 69}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 1}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 68, "outlets_end": 78}, {"year": 2024, "outlet_type": "total", "outlets_start": 69, "outlets_end": 79}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 1, "outlets_end": 1}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 78, "outlets_end": 81}, {"year": 2025, "outlet_type": "total", "outlets_start": 79, "outlets_end": 82}], "turnover_by_year": [{"year": 2023, "outlets_start": 66, "opened": 5, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 3, "transferred": 6, "outlets_end": 68}, {"year": 2024, "outlets_start": 68, "opened": 11, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 1, "transferred": null, "outlets_end": 78}, {"year": 2025, "outlets_start": 78, "opened": 7, "terminated": 3, "non_renewed": 0, "reacquired": 0, "ceased_other": 1, "transferred": 6, "outlets_end": 81}], "outlets_by_state": [{"year": 2023, "state": "AR", "outlets_end": 0}, {"year": 2023, "state": "AZ", "outlets_end": 0}, {"year": 2023, "state": "CA", "outlets_end": 1}, {"year": 2023, "state": "CO", "outlets_end": 4}, {"year": 2023, "state": "FL", "outlets_end": 8}, {"year": 2023, "state": "GA", "outlets_end": 4}, {"year": 2023, "state": "IA", "outlets_end": 4}, {"year": 2023, "state": "IL", "outlets_end": 3}, {"year": 2023, "state": "IN", "outlets_end": 1}, {"year": 2023, "state": "KS", "outlets_end": 5}, {"year": 2023, "state": "KY", "outlets_end": 1}, {"year": 2023, "state": "LA", "outlets_end": 2}, {"year": 2023, "state": "MD", "outlets_end": 1}, {"year": 2023, "state": "MI", "outlets_end": 2}, {"year": 2023, "state": "MN", "outlets_end": 4}, {"year": 2023, "state": "MO", "outlets_end": 2}, {"year": 2023, "state": "NC", "outlets_end": 0}, {"year": 2023, "state": "ND", "outlets_end": 1}, {"year": 2023, "state": "NE", "outlets_end": 2}, {"year": 2023, "state": "NH", "outlets_end": 0}, {"year": 2023, "state": "NM", "outlets_end": 1}, 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{"brand_slug": "era-group", "brand_name": "ERA Group", "legal_name": "Expense Reduction Analysts, Inc.", "industry": "b2b-supplies", "industry_label": "B2B Supplies", "sub_category": null, "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-03-26", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/era-group/", "hand_checked": 1, "corrections_logged": 1, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 64900, "initial_fee_high_usd": 69900, "royalty_pct": 15, "royalty_min_monthly_usd": 1051.65, "marketing_fee_pct": 3, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 142.5, "total_investment_low_usd": 76000, "total_investment_high_usd": 105900, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "performance_anchored", "cohort_label": "Top 25% (1st Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating", "outlet_count": 22, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 900566, "median_value": 734102, "min_value": 510989, "max_value": 2998404, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "performance_anchored", "cohort_label": "25-50% (2nd Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating", "outlet_count": 21, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 356457, "median_value": 341597, "min_value": 261053, "max_value": 468148, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "performance_anchored", "cohort_label": "50-75% (3rd Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating", "outlet_count": 21, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 208279, "median_value": 202622, "min_value": 151816, "max_value": 257796, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "performance_anchored", "cohort_label": "Bottom 25% (4th Quartile) by Net Cumulative Receipts - Full-Time Regional Franchisees, 18+ months operating", "outlet_count": 22, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 55355, "median_value": 60644, "min_value": 0, "max_value": 115984, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "all_franchised", "cohort_label": "All Full-Time Regional Franchisees (18+ months operating)", "outlet_count": 86, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 388180, "median_value": 268982, "min_value": 0, "max_value": 2998404, "fdd_page": null}, {"metric": "total_revenue", "metric_label": "Net Cumulative Receipts", "cohort": "other", "cohort_label": "Part-Time Regional Franchisees (18+ months operating)", "outlet_count": 51, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 30939, "median_value": 109, "min_value": 0, "max_value": 436063, "fdd_page": null}], "comparable_revenue": {"annual_revenue_usd": 268982.0, "basis": "median, All Full-Time Regional Franchisees (18+ months operating) (86 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 0, "outlets_end": 2}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 136, "outlets_end": 144}, {"year": 2023, "outlet_type": "total", "outlets_start": 136, "outlets_end": 146}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 2}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 144, "outlets_end": 161}, {"year": 2024, "outlet_type": "total", "outlets_start": 146, "outlets_end": 163}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 0}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 161, "outlets_end": 196}, {"year": 2025, "outlet_type": "total", "outlets_start": 163, "outlets_end": 196}], "turnover_by_year": [{"year": 2023, "outlets_start": 136, "opened": 23, "terminated": 6, "non_renewed": 0, "reacquired": 2, "ceased_other": 7, "transferred": null, "outlets_end": 144}, {"year": 2024, "outlets_start": 144, "opened": 30, "terminated": 12, "non_renewed": 1, "reacquired": 0, "ceased_other": 0, "transferred": null, "outlets_end": 161}, {"year": 2025, "outlets_start": 161, "opened": 43, "terminated": 8, "non_renewed": 0, "reacquired": 0, "ceased_other": 0, "transferred": null, "outlets_end": 196}], "outlets_by_state": [{"year": 2023, "state": "AZ", "outlets_end": 5}, {"year": 2023, "state": "CA", "outlets_end": 12}, {"year": 2023, "state": "CO", "outlets_end": 5}, {"year": 2023, "state": "CT", "outlets_end": 12}, {"year": 2023, "state": "FL", "outlets_end": 15}, {"year": 2023, "state": "GA", "outlets_end": 5}, {"year": 2023, "state": "IA", "outlets_end": 4}, {"year": 2023, "state": "IL", "outlets_end": 7}, {"year": 2023, "state": "IN", "outlets_end": 1}, {"year": 2023, "state": "KY", "outlets_end": 3}, {"year": 2023, "state": "MA", "outlets_end": 4}, {"year": 2023, "state": "MD", "outlets_end": 8}, {"year": 2023, "state": "MI", "outlets_end": 0}, {"year": 2023, "state": "MO", "outlets_end": 4}, {"year": 2023, "state": "MS", "outlets_end": 2}, {"year": 2023, "state": "NC", "outlets_end": 6}, {"year": 2023, "state": "NH", "outlets_end": 1}, {"year": 2023, "state": "NJ", "outlets_end": 4}, {"year": 2023, "state": "NY", "outlets_end": 5}, {"year": 2023, "state": "OH", "outlets_end": 3}, {"year": 2023, "state": "OK", "outlets_end": 1}, {"year": 2023, "state": "PA", "outlets_end": 8}, {"year": 2023, "state": "TX", "outlets_end": 22}, {"year": 2023, "state": "VA", "outlets_end": 1}, {"year": 2023, "state": "WA", "outlets_end": 6}, {"year": 2024, "state": "AZ", "outlets_end": 8}, {"year": 2024, "state": "CA", "outlets_end": 15}, {"year": 2024, "state": "CO", "outlets_end": 8}, {"year": 2024, "state": "CT", "outlets_end": 11}, {"year": 2024, "state": "FL", "outlets_end": 15}, {"year": 2024, "state": "GA", "outlets_end": 6}, {"year": 2024, "state": "IA", "outlets_end": 6}, {"year": 2024, "state": "IL", "outlets_end": 8}, {"year": 2024, "state": "IN", "outlets_end": 1}, {"year": 2024, "state": "KY", "outlets_end": 3}, {"year": 2024, "state": "MA", "outlets_end": 1}, {"year": 2024, "state": "MD", "outlets_end": 9}, {"year": 2024, "state": "MI", "outlets_end": 1}, {"year": 2024, "state": "MO", "outlets_end": 5}, {"year": 2024, "state": "MS", "outlets_end": 2}, {"year": 2024, "state": "NC", "outlets_end": 9}, {"year": 2024, "state": "NH", "outlets_end": 1}, {"year": 2024, "state": "NJ", "outlets_end": 5}, {"year": 2024, "state": "NY", "outlets_end": 3}, {"year": 2024, "state": "OH", "outlets_end": 3}, {"year": 2024, "state": "OK", "outlets_end": 1}, {"year": 2024, "state": "PA", "outlets_end": 10}, {"year": 2024, "state": "TX", "outlets_end": 23}, {"year": 2024, "state": "VA", "outlets_end": 2}, {"year": 2024, "state": "WA", "outlets_end": 5}, {"year": 2025, "state": "AZ", "outlets_end": 8}, {"year": 2025, "state": "CA", "outlets_end": 18}, {"year": 2025, "state": "CO", "outlets_end": 11}, {"year": 2025, "state": "CT", "outlets_end": 10}, {"year": 2025, "state": "FL", "outlets_end": 16}, {"year": 2025, "state": "GA", "outlets_end": 6}, {"year": 2025, "state": "IA", "outlets_end": 8}, {"year": 2025, "state": "IL", "outlets_end": 9}, {"year": 2025, "state": "IN", "outlets_end": 1}, {"year": 2025, "state": "KY", "outlets_end": 6}, {"year": 2025, "state": "MA", "outlets_end": 1}, {"year": 2025, "state": "MD", "outlets_end": 12}, {"year": 2025, "state": "MI", "outlets_end": 4}, {"year": 2025, "state": "MO", "outlets_end": 5}, {"year": 2025, "state": "MS", "outlets_end": 1}, {"year": 2025, "state": "NC", "outlets_end": 15}, {"year": 2025, "state": "NH", "outlets_end": 1}, {"year": 2025, "state": "NJ", "outlets_end": 9}, {"year": 2025, "state": "NY", "outlets_end": 4}, {"year": 2025, "state": "OH", "outlets_end": 3}, {"year": 2025, "state": "OK", "outlets_end": 1}, {"year": 2025, "state": "PA", "outlets_end": 10}, {"year": 2025, "state": "TX", "outlets_end": 26}, {"year": 2025, "state": "VA", "outlets_end": 3}, {"year": 2025, "state": "WA", "outlets_end": 8}], "agreement_terms": null, "brand_metrics": {"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": 1, "closure_note": null, "growth_pct": 34.2, "growth_outlets_from": 146, "growth_outlets_to": 196, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": 18, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "complete-mobile-drug-testing", "alternative_name": "Complete Mobile Drug Testing", "same_sub_category": 0, "alternative_investment_low_usd": 72350, "investment_gap_usd": 3650, "alternative_total_outlets": 1}, {"rank": 2, "alternative_slug": "gasket-guy", "alternative_name": "Gasket Guy", "same_sub_category": 0, "alternative_investment_low_usd": 80050, "investment_gap_usd": 4050, "alternative_total_outlets": 38}, {"rank": 3, "alternative_slug": "world-options", "alternative_name": "World Options", "same_sub_category": 0, "alternative_investment_low_usd": 81100, "investment_gap_usd": 5100, "alternative_total_outlets": 18}, {"rank": 4, "alternative_slug": "instant-imprints", "alternative_name": "Instant Imprints", "same_sub_category": 0, "alternative_investment_low_usd": 82800, "investment_gap_usd": 6800, "alternative_total_outlets": 15}, {"rank": 5, "alternative_slug": "townepost", "alternative_name": "TownePost", "same_sub_category": 0, "alternative_investment_low_usd": 83350, "investment_gap_usd": 7350, "alternative_total_outlets": 19}, {"rank": 6, "alternative_slug": "locals-love-us", "alternative_name": "Locals Love Us", "same_sub_category": 0, "alternative_investment_low_usd": 66750, "investment_gap_usd": 9250, "alternative_total_outlets": 12}, {"rank": 7, "alternative_slug": "inxpress", "alternative_name": "InXpress", "same_sub_category": 0, "alternative_investment_low_usd": 86900, "investment_gap_usd": 10900, "alternative_total_outlets": 77}, {"rank": 8, "alternative_slug": "money-mailer", "alternative_name": "Money Mailer", "same_sub_category": 0, "alternative_investment_low_usd": 64630, "investment_gap_usd": 11370, "alternative_total_outlets": 136}, {"rank": 9, "alternative_slug": "runningboards-marketing", "alternative_name": "Runningboards Marketing", "same_sub_category": 0, "alternative_investment_low_usd": 87400, "investment_gap_usd": 11400, "alternative_total_outlets": 14}, {"rank": 10, "alternative_slug": "our-town-america", "alternative_name": "Our Town America", "same_sub_category": 0, "alternative_investment_low_usd": 64399, "investment_gap_usd": 11601, "alternative_total_outlets": 50}], "peer_ranks": [{"metric": "inv_low", "value": 76000, "rank": 35, "peers": 70, "peer_median": 78025.0, "rank_order": "lowest first", "peer_group": "B2B Supplies"}, {"metric": "fee_low", "value": 64900, "rank": 61, "peers": 65, "peer_median": 35900, "rank_order": "lowest first", "peer_group": "B2B Supplies"}, {"metric": "royalty", "value": 15, "rank": 41, "peers": 47, "peer_median": 7, "rank_order": "lowest first", "peer_group": "B2B Supplies"}, {"metric": "allin", "value": 18, "rank": 44, "peers": 47, "peer_median": 7.5, "rank_order": "lowest first", "peer_group": "B2B Supplies"}, {"metric": "outlets", "value": 196, "rank": 14, "peers": 68, "peer_median": 41.5, "rank_order": "highest first", "peer_group": "B2B Supplies"}, {"metric": "growth", "value": 34.2, "rank": 3, "peers": 44, "peer_median": 0.0, "rank_order": "highest first", "peer_group": "B2B Supplies"}, {"metric": "closure", "value": 7.7, "rank": 23, "peers": 40, "peer_median": 6.55, "rank_order": "lowest first", "peer_group": "B2B Supplies"}], "value_ratios": {"comparable_annual_revenue_usd": 268982, "investment_midpoint_usd": 90950, "revenue_to_investment": 2.96, "royalty_pct": 15, "revenue_per_royalty_point_usd": 17932}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 136, "closures": 13, "closures_not_itemized": 0, "closure_rate_pct": 9.6}, {"year": 2024, "franchised_outlets_start": 144, "closures": 13, "closures_not_itemized": 0, "closure_rate_pct": 9.0}, {"year": 2025, "franchised_outlets_start": 161, "closures": 8, "closures_not_itemized": 0, "closure_rate_pct": 5.0}]}
{"brand_slug": "gymguyz", "brand_name": "Gymguyz", "legal_name": "GYMGUYZ Franchising LLC", "industry": "fitness-wellness", "industry_label": "Fitness & Wellness", "sub_category": "Boutique Group Fitness", "fdd_year": 2025, "fdd_filing_state": "MN", "fdd_effective_date": "2025-02-25", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/gymguyz/", "hand_checked": 1, "corrections_logged": 8, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 49500, "initial_fee_high_usd": 49500, "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": 92100, "total_investment_high_usd": 174000, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Gross Sales", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2024", "year": 2024, "unit_period": "annual", "scope": "company-owned", "avg_value": 409731.67, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 44}, {"metric": "gross_profit", "metric_label": "Gross Profit Less Disclosed Expenses", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2024", "year": 2024, "unit_period": "annual", "scope": "company-owned", "avg_value": 193891.33, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 45}, {"metric": "net_profit", "metric_label": "Gross Profit Less Disclosed Expenses / Franchisee Related Expenses", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2024", "year": 2024, "unit_period": "annual", "scope": "company-owned", "avg_value": 160712.67, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 45}, {"metric": "gross_sales", "metric_label": "Gross Sales", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2023", "year": 2023, "unit_period": "annual", "scope": "company-owned", "avg_value": 296284.67, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 44}, {"metric": "gross_sales", "metric_label": "Gross Sales", "cohort": "all_franchised", "cohort_label": "85 franchised outlets", "outlet_count": 85, "period": null, "year": 2024, "unit_period": "annual", "scope": null, "avg_value": 106507.4, "median_value": 130644, "min_value": 0, "max_value": 835964, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Gross Sales per FTE Trainer", "cohort": "all_franchised", "cohort_label": "85 franchised outlets (51 FTE trainers aggregate)", "outlet_count": 85, "period": null, "year": 2024, "unit_period": "annual", "scope": null, "avg_value": 161701.68, "median_value": null, "min_value": null, "max_value": null, "fdd_page": null}, {"metric": "gross_profit", "metric_label": "Gross Profit Less Disclosed Expenses", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2023", "year": 2023, "unit_period": "annual", "scope": "company-owned", "avg_value": 154592, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 45}, {"metric": "net_profit", "metric_label": "Gross Profit Less Disclosed Expenses / Franchisee Related Expenses", "cohort": "all_company_owned", "cohort_label": "Affiliate Owned Locations (3 units, Long Island, NY)", "outlet_count": 3, "period": "2023", "year": 2023, "unit_period": "annual", "scope": "company-owned", "avg_value": 130489.33, "median_value": null, "min_value": null, "max_value": null, "fdd_page": 45}], "comparable_revenue": {"annual_revenue_usd": 130644.0, "basis": "median, 85 franchised outlets (85 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2022, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 2}, {"year": 2022, "outlet_type": "franchised", "outlets_start": 95, "outlets_end": 97}, {"year": 2022, "outlet_type": "total", "outlets_start": 97, "outlets_end": 99}, {"year": 2023, "outlet_type": "company-owned", "outlets_start": 2, "outlets_end": 2}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 97, "outlets_end": 119}, {"year": 2023, "outlet_type": "total", "outlets_start": 99, "outlets_end": 121}, {"year": 2024, "outlet_type": "company-owned", 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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. 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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}, "brand_metrics": {"total_outlets": 1663, "franchised_outlets": 1537, "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": 1, "closure_note": null, "growth_pct": -11.8, "growth_outlets_from": 1885, "growth_outlets_to": 1663, "growth_year_from": 2023, "growth_year_to": 2025, "growth_ranking_eligible": 1, "all_in_fee_pct": 19, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "atax", "alternative_name": "Atax", "same_sub_category": 1, "alternative_investment_low_usd": 59150, "investment_gap_usd": 9450, "alternative_total_outlets": 117}, {"rank": 2, "alternative_slug": "h-r-block", "alternative_name": "H&R Block", "same_sub_category": 1, "alternative_investment_low_usd": 34080, "investment_gap_usd": 15620, "alternative_total_outlets": 8921}, {"rank": 3, "alternative_slug": "jackson-hewitt-tax-service", "alternative_name": "Jackson Hewitt Tax Service", "same_sub_category": 1, "alternative_investment_low_usd": 71050, "investment_gap_usd": 21350, "alternative_total_outlets": 5287}, {"rank": 4, "alternative_slug": "toro-taxes", "alternative_name": "Toro Taxes", "same_sub_category": 1, "alternative_investment_low_usd": 17835, "investment_gap_usd": 31865, "alternative_total_outlets": null}, {"rank": 5, "alternative_slug": "estrella-insurance", "alternative_name": "Estrella Insurance", "same_sub_category": 0, "alternative_investment_low_usd": 49950, "investment_gap_usd": 250, "alternative_total_outlets": 214}, {"rank": 6, "alternative_slug": "decimal", "alternative_name": "Decimal", "same_sub_category": 0, "alternative_investment_low_usd": 46300, "investment_gap_usd": 3400, "alternative_total_outlets": 1}, {"rank": 7, "alternative_slug": "loyalty-business-brokers", "alternative_name": "Loyalty Business Brokers", "same_sub_category": 0, "alternative_investment_low_usd": 53350, "investment_gap_usd": 3650, "alternative_total_outlets": 4}, {"rank": 8, "alternative_slug": "co-lab", "alternative_name": "Co/LAB", "same_sub_category": 0, "alternative_investment_low_usd": 54750, "investment_gap_usd": 5050, "alternative_total_outlets": 1}, {"rank": 9, "alternative_slug": "motto-mortgage", "alternative_name": "Motto Mortgage", "same_sub_category": 0, "alternative_investment_low_usd": 55700, "investment_gap_usd": 6000, "alternative_total_outlets": 249}, {"rank": 10, "alternative_slug": "brightway-insurance", "alternative_name": "Brightway Insurance", "same_sub_category": 0, "alternative_investment_low_usd": 43425, "investment_gap_usd": 6275, "alternative_total_outlets": 354}], "peer_ranks": [{"metric": "inv_low", "value": 49700, "rank": 18, "peers": 52, "peer_median": 59350.0, "rank_order": "lowest first", "peer_group": "Tax & Financial"}, {"metric": "fee_low", "value": 25000, "rank": 17, "peers": 51, "peer_median": 29500, "rank_order": "lowest first", "peer_group": "Tax & Financial"}, {"metric": "royalty", "value": 14, "rank": 22, "peers": 34, "peer_median": 10.0, "rank_order": "lowest first", "peer_group": "Tax & Financial"}, {"metric": "allin", "value": 19, "rank": 26, "peers": 34, "peer_median": 12.0, "rank_order": "lowest first", "peer_group": "Tax & Financial"}, {"metric": "outlets", "value": 1663, "rank": 4, "peers": 52, "peer_median": 78.0, "rank_order": "highest first", "peer_group": "Tax & Financial"}, {"metric": "growth", "value": -11.8, "rank": 32, "peers": 38, "peer_median": -1.15, "rank_order": "highest first", "peer_group": "Tax & Financial"}, {"metric": "closure", "value": 8.7, "rank": 24, "peers": 36, "peer_median": 6.15, "rank_order": "lowest first", "peer_group": "Tax & Financial"}], "value_ratios": {"comparable_annual_revenue_usd": 139486, "investment_midpoint_usd": 60550, "revenue_to_investment": null, "royalty_pct": 14, "revenue_per_royalty_point_usd": 9963}, "closure_by_year": [{"year": 2023, "franchised_outlets_start": 1991, "closures": 201, "closures_not_itemized": 0, "closure_rate_pct": 10.1}, {"year": 2024, "franchised_outlets_start": 1813, "closures": 149, "closures_not_itemized": 0, "closure_rate_pct": 8.2}, {"year": 2025, "franchised_outlets_start": 1686, "closures": 128, "closures_not_itemized": 0, "closure_rate_pct": 7.6}]}
{"brand_slug": "mathnasium", "brand_name": "Mathnasium", "legal_name": "Mathnasium Franchisor LLC", "industry": "education", "industry_label": "Education", "sub_category": "Academic Tutoring", "fdd_year": 2026, "fdd_filing_state": "WI", "fdd_effective_date": "2026-04-30", "fdd_source_url": "https://apps.dfi.wi.gov/apps/FranchiseSearch/details.aspx?id=641614&hash=1383796229&search=external&type=GENERAL", "franchisedepth_url": "https://franchisedepth.com/franchise/mathnasium/", "hand_checked": 1, "corrections_logged": 13, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 49000, "initial_fee_high_usd": 49000, "royalty_pct": 10, "royalty_min_monthly_usd": 1500, "marketing_fee_pct": 2, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": 266, "total_investment_low_usd": 127316, "total_investment_high_usd": 165846, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Annual Gross Receipts", "cohort": "all_franchised", "cohort_label": "914 franchised Mathnasium Centers open and operated by the same franchisee 12 months or longer as of December 31, 2025", "outlet_count": 914, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 384874, "median_value": 326428, "min_value": 66925, "max_value": 1511770, "fdd_page": 60}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Top 1/4 of 914 franchised Mathnasium Centers open 12+ months", "outlet_count": 229, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 693314, "median_value": 635510, "min_value": 467777, "max_value": 1511770, "fdd_page": 60}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Mid-Upper 1/4 of 914 franchised Mathnasium Centers open 12+ months", "outlet_count": 228, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 391418, "median_value": 391156, "min_value": 326710, "max_value": 466924, "fdd_page": 60}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Mid-Lower 1/4 of 914 franchised Mathnasium Centers open 12+ months", "outlet_count": 228, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 278021, "median_value": 274816, "min_value": 235325, "max_value": 326146, "fdd_page": 60}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts", "cohort": "performance_anchored", "cohort_label": "Bottom 1/4 of 914 franchised Mathnasium Centers open 12+ months", "outlet_count": 229, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 176306, "median_value": 182523, "min_value": 66925, "max_value": 234408, "fdd_page": 60}, {"metric": "net_profit", "metric_label": "Operating Profit", "cohort": "all_franchised", "cohort_label": "914 franchised Mathnasium Centers (Covered Centers) open 12+ months with complete 2025 P&Ls", "outlet_count": 914, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 117000, "median_value": 111630, "min_value": null, "max_value": null, "fdd_page": 61}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts per center", "cohort": "other", "cohort_label": "Franchisees owning 1 Center (289 franchisees), centers open 36+ months under the same franchisee", "outlet_count": 289, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 373107, "median_value": 318865, "min_value": 90745, "max_value": 1335332, "fdd_page": 64}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts per center", "cohort": "other", "cohort_label": "Franchisees owning 2 Centers (60 franchisees), centers open 36+ months under the same franchisee", "outlet_count": 120, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 407394, "median_value": 338334, "min_value": 91037, "max_value": 1283151, "fdd_page": 64}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts per center", "cohort": "other", "cohort_label": "Franchisees owning 3-5 Centers (26 franchisees), centers open 36+ months under the same franchisee", "outlet_count": 92, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 453229, "median_value": 390326, "min_value": 77077, "max_value": 1511770, "fdd_page": 64}, {"metric": "gross_sales", "metric_label": "Annual Gross Receipts per center", "cohort": "other", "cohort_label": "Franchisees owning 6+ Centers (14 franchisees), centers open 36+ months under the same franchisee", "outlet_count": 158, "period": "January 1 - December 31, 2025", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 467965, "median_value": 419572, "min_value": 122948, "max_value": 1387460, "fdd_page": 64}], "comparable_revenue": {"annual_revenue_usd": 326428.0, "basis": "median, 914 franchised Mathnasium Centers open and operated by the same franchisee 12 months or longer as of December 31, 2025 (914 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 3, "outlets_end": 4}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 951, "outlets_end": 968}, {"year": 2023, "outlet_type": "total", "outlets_start": 954, "outlets_end": 972}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 4, "outlets_end": 4}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 968, "outlets_end": 995}, {"year": 2024, "outlet_type": "total", "outlets_start": 972, "outlets_end": 999}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 4, "outlets_end": 4}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 995, "outlets_end": 1043}, {"year": 2025, "outlet_type": "total", "outlets_start": 999, "outlets_end": 1047}], "turnover_by_year": [{"year": 2023, "outlets_start": 951, "opened": 43, "terminated": 0, "non_renewed": 0, "reacquired": 1, "ceased_other": 25, "transferred": null, "outlets_end": 968}, {"year": 2024, "outlets_start": 968, "opened": 47, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 20, "transferred": null, "outlets_end": 995}, {"year": 2025, "outlets_start": 995, "opened": 63, "terminated": 0, "non_renewed": 0, "reacquired": 0, "ceased_other": 15, "transferred": null, "outlets_end": 1043}], "outlets_by_state": [{"year": 2023, "state": "AL", "outlets_end": 8}, {"year": 2023, "state": "AR", "outlets_end": 4}, {"year": 2023, "state": "AZ", "outlets_end": 25}, {"year": 2023, "state": "CA", "outlets_end": 163}, {"year": 2023, "state": "CO", "outlets_end": 21}, {"year": 2023, "state": "CT", "outlets_end": 11}, {"year": 2023, "state": "DC", "outlets_end": 3}, {"year": 2023, "state": "DE", "outlets_end": 3}, {"year": 2023, "state": "FL", "outlets_end": 75}, {"year": 2023, "state": "GA", "outlets_end": 37}, {"year": 2023, "state": "HI", "outlets_end": 1}, {"year": 2023, "state": "IA", "outlets_end": 6}, {"year": 2023, "state": "ID", "outlets_end": 6}, {"year": 2023, "state": "IL", "outlets_end": 47}, {"year": 2023, "state": "IN", "outlets_end": 9}, {"year": 2023, "state": "KS", "outlets_end": 5}, {"year": 2023, "state": "KY", "outlets_end": 6}, {"year": 2023, "state": "LA", "outlets_end": 3}, {"year": 2023, "state": "MA", "outlets_end": 22}, {"year": 2023, "state": "MD", "outlets_end": 31}, {"year": 2023, "state": "ME", "outlets_end": 1}, {"year": 2023, "state": "MI", "outlets_end": 18}, {"year": 2023, "state": "MN", "outlets_end": 25}, {"year": 2023, "state": "MO", "outlets_end": 11}, {"year": 2023, "state": "MS", "outlets_end": 1}, {"year": 2023, "state": "NC", "outlets_end": 22}, {"year": 2023, "state": "ND", "outlets_end": 0}, {"year": 2023, "state": "NE", "outlets_end": 3}, {"year": 2023, "state": "NH", "outlets_end": 2}, {"year": 2023, "state": "NJ", "outlets_end": 45}, {"year": 2023, "state": "NM", "outlets_end": 2}, {"year": 2023, "state": "NV", "outlets_end": 13}, {"year": 2023, "state": "NY", "outlets_end": 40}, {"year": 2023, "state": "OH", "outlets_end": 18}, {"year": 2023, "state": "OK", "outlets_end": 9}, {"year": 2023, "state": "OR", 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{"brand_slug": "pet-supplies-plus", "brand_name": "Pet Supplies Plus", "legal_name": "PSP Franchise Operations SPV, LLC", "industry": "pet-services", "industry_label": "Pet Services", "sub_category": "Pet Retail", "fdd_year": 2025, "fdd_filing_state": "MN", "fdd_effective_date": "2025-12-19", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/pet-supplies-plus/", "hand_checked": 1, "corrections_logged": 1, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 49900, "initial_fee_high_usd": 49900, "royalty_pct": 3, "royalty_min_monthly_usd": null, "marketing_fee_pct": 3.5, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": null, "total_investment_low_usd": 540520, "total_investment_high_usd": 1975005, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "gross_sales", "metric_label": "Average Weekly Gross Sales", "cohort": "open_12_24mo", "cohort_label": "1 Year", "outlet_count": 37, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "weekly", "scope": "franchisee", "avg_value": 32566, "median_value": 32467, "min_value": 18428, "max_value": 62080, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Weekly Gross Sales", "cohort": "open_24_plus_mo", "cohort_label": "2 Years", "outlet_count": 34, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "weekly", "scope": "franchisee", "avg_value": 40041, "median_value": 40108, "min_value": 19366, "max_value": 58927, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Weekly Gross Sales", "cohort": "open_36_plus_mo", "cohort_label": "3 Years", "outlet_count": 33, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "weekly", "scope": "franchisee", "avg_value": 45513, "median_value": 44649, "min_value": 22212, "max_value": 85058, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Weekly Gross Sales", "cohort": "open_48_plus_mo", "cohort_label": "4+ Years", "outlet_count": 243, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "weekly", "scope": "franchisee", "avg_value": 56489, "median_value": 53979, "min_value": 24625, "max_value": 132180, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Weekly Gross Sales", "cohort": "all_franchised", "cohort_label": "Average of All Stores", "outlet_count": 347, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "weekly", "scope": "franchisee", "avg_value": 51283, "median_value": 48001, "min_value": 18428, "max_value": 132180, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average 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"min_value": 1155048, "max_value": 4422997, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Annual Gross Sales", "cohort": "open_48_plus_mo", "cohort_label": "4+ Years", "outlet_count": 243, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "annual", "scope": "franchisee", "avg_value": 2937419, "median_value": 2806907, "min_value": 1280489, "max_value": 6873341, "fdd_page": null}, {"metric": "gross_sales", "metric_label": "Average Annual Gross Sales", "cohort": "all_franchised", "cohort_label": "Average of All Stores", "outlet_count": 347, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "annual", "scope": "franchisee", "avg_value": 2666693, "median_value": 2496071, "min_value": 958273, "max_value": 6873341, "fdd_page": null}, {"metric": "gross_profit", "metric_label": "Annual Gross Margin %", "cohort": "open_12_24mo", "cohort_label": "1 Year", "outlet_count": 37, "period": "January 1, 2024 to December 28, 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"outlet_count": 243, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": null, "scope": "franchisee", "avg_value": 36.9, "median_value": 36.2, "min_value": 27.7, "max_value": 48.2, "fdd_page": null}, {"metric": "gross_profit", "metric_label": "Annual Gross Margin %", "cohort": "all_franchised", "cohort_label": "Average of All Stores", "outlet_count": 347, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": null, "scope": "franchisee", "avg_value": 38, "median_value": 37.4, "min_value": 27.7, "max_value": 50.8, "fdd_page": null}, {"metric": "occupancy_pct", "metric_label": "Annual Rent", "cohort": "open_12_24mo", "cohort_label": "1 Year", "outlet_count": 37, "period": "January 1, 2024 to December 28, 2024", "year": 2024, "unit_period": "annual", "scope": "franchisee", "avg_value": 176225, "median_value": 162051, "min_value": null, "max_value": null, "fdd_page": null}, {"metric": "occupancy_pct", "metric_label": "Annual Rent", 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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. 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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}, "brand_metrics": {"total_outlets": 129, "franchised_outlets": 101, "company_outlets": 28, "states_count": 14, "closure_rate_pct": 2.0, "closures": 7, "closures_not_itemized": 0, "reacquired": 53, "franchised_outlet_years": 348, "closure_year_from": 2022, "closure_year_to": 2024, "closure_ranking_eligible": 1, "closure_note": null, "growth_pct": -20.9, "growth_outlets_from": 163, "growth_outlets_to": 129, "growth_year_from": 2022, "growth_year_to": 2024, "growth_ranking_eligible": 1, "all_in_fee_pct": 10, "all_in_basis": "royalty + marketing fund"}, "alternatives": [{"rank": 1, "alternative_slug": "meineke", "alternative_name": "Meineke", "same_sub_category": 1, "alternative_investment_low_usd": 224898, "investment_gap_usd": 2898, "alternative_total_outlets": 716}, {"rank": 2, "alternative_slug": "car-doctor-plus", "alternative_name": "Car Doctor Plus", "same_sub_category": 1, "alternative_investment_low_usd": 218000, "investment_gap_usd": 4000, "alternative_total_outlets": 1}, {"rank": 3, "alternative_slug": "aamco", "alternative_name": "AAMCO", "same_sub_category": 1, "alternative_investment_low_usd": 236800, "investment_gap_usd": 14800, "alternative_total_outlets": null}, {"rank": 4, "alternative_slug": "michelin-commercial-service-network", "alternative_name": "Michelin Commercial Service Network", "same_sub_category": 1, "alternative_investment_low_usd": 189000, "investment_gap_usd": 33000, "alternative_total_outlets": 340}, {"rank": 5, "alternative_slug": "honest1", "alternative_name": "Honest1", "same_sub_category": 1, "alternative_investment_low_usd": 255750, "investment_gap_usd": 33750, "alternative_total_outlets": 64}, {"rank": 6, "alternative_slug": "precision-tune-auto-care", "alternative_name": "Precision Tune Auto Care", "same_sub_category": 1, "alternative_investment_low_usd": 181601, "investment_gap_usd": 40399, "alternative_total_outlets": null}, {"rank": 7, "alternative_slug": "merlin", "alternative_name": "Merlin", "same_sub_category": 1, "alternative_investment_low_usd": 264745, "investment_gap_usd": 42745, "alternative_total_outlets": 28}, {"rank": 8, "alternative_slug": "mr-transmission-milex-complete-auto-care", "alternative_name": "Mr. Transmission / Milex Complete Auto Care", "same_sub_category": 1, "alternative_investment_low_usd": 267500, "investment_gap_usd": 45500, "alternative_total_outlets": 111}, {"rank": 9, "alternative_slug": "summit-auto-calibration", "alternative_name": "Summit Auto Calibration", "same_sub_category": 1, "alternative_investment_low_usd": 160550, "investment_gap_usd": 61450, "alternative_total_outlets": 2}, {"rank": 10, "alternative_slug": "bosch-auto-service", "alternative_name": "Bosch Auto Service", "same_sub_category": 1, "alternative_investment_low_usd": 146600, "investment_gap_usd": 75400, "alternative_total_outlets": 2}], "peer_ranks": [{"metric": "inv_low", "value": 222000, "rank": 13, "peers": 22, "peer_median": 203500.0, "rank_order": "lowest first", "peer_group": "Repair & Maintenance"}, {"metric": "fee_low", "value": 30000, "rank": 10, "peers": 23, "peer_median": 30000, "rank_order": "lowest first", "peer_group": "Repair & Maintenance"}, {"metric": "royalty", "value": 5, "rank": 1, "peers": 16, "peer_median": 6.45, "rank_order": "lowest first", "peer_group": "Repair & Maintenance"}, {"metric": "allin", "value": 10, "rank": 11, "peers": 16, "peer_median": 8.0, "rank_order": "lowest first", "peer_group": "Repair & Maintenance"}, {"metric": "outlets", "value": 129, "rank": 9, "peers": 23, "peer_median": 62, "rank_order": "highest first", "peer_group": "Repair & Maintenance"}, {"metric": "growth", "value": -20.9, "rank": 14, "peers": 14, "peer_median": -2.25, "rank_order": "highest first", "peer_group": "Repair & Maintenance"}, {"metric": "closure", "value": 2.0, "rank": 5, "peers": 14, "peer_median": 3.4000000000000004, "rank_order": "lowest first", "peer_group": "Repair & Maintenance"}], "value_ratios": {"comparable_annual_revenue_usd": 1343137, "investment_midpoint_usd": 472750, "revenue_to_investment": 2.84, "royalty_pct": 5, "revenue_per_royalty_point_usd": 268627}, "closure_by_year": [{"year": 2022, "franchised_outlets_start": 145, "closures": 5, "closures_not_itemized": 0, "closure_rate_pct": 3.4}, {"year": 2023, "franchised_outlets_start": 103, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 1.0}, {"year": 2024, "franchised_outlets_start": 100, "closures": 1, "closures_not_itemized": 0, "closure_rate_pct": 1.0}]}
{"brand_slug": "ubreakifix-by-asurion", "brand_name": "uBreakiFix by Asurion", "legal_name": "UBIF Franchising Co", "industry": "tech-services", "industry_label": "Tech Services", "sub_category": "Device Repair", "fdd_year": 2026, "fdd_filing_state": "MN", "fdd_effective_date": "2026-04-02", "fdd_source_url": "https://www.cards.commerce.state.mn.us/CARDS/", "franchisedepth_url": "https://franchisedepth.com/franchise/ubreakifix-by-asurion/", "hand_checked": 1, "corrections_logged": 1, "older_fdd": 0, "edition_note": null, "fees": {"initial_fee_low_usd": 25000, "initial_fee_high_usd": 40000, "royalty_pct": 7, "royalty_min_monthly_usd": null, "marketing_fee_pct": 0, "marketing_min_monthly_usd": null, "tech_fee_monthly_usd": null, "total_investment_low_usd": 171350, "total_investment_high_usd": 468150, "liquid_capital_usd": null, "net_worth_usd": null}, "fee_notes": {"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."}, "item19_figures": [{"metric": "total_revenue", "metric_label": "2025 Total Revenue", "cohort": "open_36_plus_mo", "cohort_label": "Stores that were Open 3+ years (as of 12/31/2025) (425 Stores)", "outlet_count": 425, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 612328.07, "median_value": 593881.02, "min_value": 214930.7, "max_value": 1625206.22, "fdd_page": 56}, {"metric": "other", "metric_label": "Cost of Goods Sold (COGS)", "cohort": "open_36_plus_mo", "cohort_label": "Stores that were Open 3+ years (as of 12/31/2025) (425 Stores)", "outlet_count": 425, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 233021.67, "median_value": 226545.51, "min_value": 91510.28, "max_value": 612146.54, "fdd_page": 56}, {"metric": "gross_profit", "metric_label": "Gross Profit", "cohort": "open_36_plus_mo", "cohort_label": "Stores that were Open 3+ years (as of 12/31/2025) (425 Stores)", "outlet_count": 425, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 379306.4, "median_value": 365561.6, "min_value": 123420.42, "max_value": 1013059.68, "fdd_page": 56}, {"metric": "total_revenue", "metric_label": "2025 Total Revenue", "cohort": "open_12_24mo", "cohort_label": "Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores)", "outlet_count": 95, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 545898.37, "median_value": 511161.69, "min_value": 221754.7, "max_value": 1061801.97, "fdd_page": 56}, {"metric": "other", "metric_label": "Cost of Goods Sold (COGS)", "cohort": "open_12_24mo", "cohort_label": "Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores)", "outlet_count": 95, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 219971.92, "median_value": 197057.96, "min_value": 82451.89, "max_value": 423088.34, "fdd_page": 56}, {"metric": "gross_profit", "metric_label": "Gross Profit", "cohort": "open_12_24mo", "cohort_label": "Stores that were Open 1-3 years (as of 12/31/2025) (95 Stores)", "outlet_count": 95, "period": "2025 calendar year", "year": 2025, "unit_period": "annual", "scope": "franchisee", "avg_value": 325926.45, "median_value": 308976.22, "min_value": 139302.82, "max_value": 638713.63, "fdd_page": 56}], "comparable_revenue": {"annual_revenue_usd": 593881.02, "basis": "median, Stores that were Open 3+ years (as of 12/31/2025) (425 Stores) (425 outlets)", "rule": "Gross sales or total revenue; all-franchised cohort of 5+ outlets; median preferred; weekly/monthly figures annualized; company-owned, top-performer and ramp-up cohorts excluded."}, "outlets_by_year": [{"year": 2023, "outlet_type": "company-owned", "outlets_start": 321, "outlets_end": 164}, {"year": 2023, "outlet_type": "franchised", "outlets_start": 443, "outlets_end": 557}, {"year": 2023, "outlet_type": "total", "outlets_start": 764, "outlets_end": 721}, {"year": 2024, "outlet_type": "company-owned", "outlets_start": 164, "outlets_end": 131}, {"year": 2024, "outlet_type": "franchised", "outlets_start": 557, "outlets_end": 551}, {"year": 2024, "outlet_type": "total", "outlets_start": 721, "outlets_end": 682}, {"year": 2025, "outlet_type": "company-owned", "outlets_start": 131, "outlets_end": 128}, {"year": 2025, "outlet_type": "franchised", "outlets_start": 551, "outlets_end": 549}, {"year": 2025, "outlet_type": "total", "outlets_start": 682, "outlets_end": 677}], "turnover_by_year": [{"year": 2023, "outlets_start": 443, "opened": 136, "terminated": 18, "non_renewed": 0, "reacquired": 1, "ceased_other": 3, "transferred": null, "outlets_end": 557}, {"year": 2024, "outlets_start": 557, "opened": 15, "terminated": 2, "non_renewed": 1, "reacquired": 0, "ceased_other": 18, "transferred": null, "outlets_end": 551}, {"year": 2025, "outlets_start": 551, "opened": 22, "terminated": 13, "non_renewed": 0, "reacquired": 0, "ceased_other": 11, "transferred": null, "outlets_end": 549}], "outlets_by_state": [{"year": 2023, "state": "AL", "outlets_end": 4}, {"year": 2023, "state": "AR", "outlets_end": 6}, {"year": 2023, "state": "AZ", "outlets_end": 13}, {"year": 2023, "state": "CA", "outlets_end": 68}, {"year": 2023, "state": "CO", "outlets_end": 18}, {"year": 2023, "state": "CT", "outlets_end": 9}, {"year": 2023, "state": "DC", "outlets_end": 2}, {"year": 2023, "state": "DE", "outlets_end": 1}, {"year": 2023, "state": "FL", "outlets_end": 63}, {"year": 2023, "state": "GA", "outlets_end": 23}, {"year": 2023, "state": "HI", "outlets_end": 2}, {"year": 2023, "state": "IA", "outlets_end": 5}, {"year": 2023, "state": "ID", "outlets_end": 2}, {"year": 2023, "state": "IL", "outlets_end": 25}, {"year": 2023, "state": "IN", "outlets_end": 11}, {"year": 2023, "state": "KY", "outlets_end": 2}, {"year": 2023, "state": "LA", "outlets_end": 7}, {"year": 2023, "state": "MA", "outlets_end": 11}, {"year": 2023, "state": "MD", "outlets_end": 16}, {"year": 2023, "state": "ME", "outlets_end": 1}, {"year": 2023, "state": "MI", "outlets_end": 18}, {"year": 2023, "state": "MN", "outlets_end": 10}, {"year": 2023, "state": "MO", "outlets_end": 2}, {"year": 2023, "state": "MS", "outlets_end": 5}, {"year": 2023, "state": "MT", "outlets_end": 2}, {"year": 2023, "state": "NC", "outlets_end": 20}, {"year": 2023, "state": "ND", "outlets_end": 1}, {"year": 2023, "state": "NE", "outlets_end": 5}, {"year": 2023, "state": "NH", "outlets_end": 3}, {"year": 2023, "state": "NJ", "outlets_end": 10}, {"year": 2023, "state": "NV", "outlets_end": 8}, {"year": 2023, "state": "NY", "outlets_end": 26}, {"year": 2023, "state": "OH", "outlets_end": 16}, {"year": 2023, "state": "OK", "outlets_end": 3}, {"year": 2023, "state": 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