FranchiseVerdict
American Family Care logo
FV-00118·STRONGExcellent95

American Family Care

Health & Wellness - OtherFranchising since 2013Website
Investment
$956K – $1.5M
98th pct Other
Avg revenue
$1.8M
53rd pct Other
Royalty
6.0%
16th pct Other
Units
386
94th pct Other
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $956K – $1.5M including a $60K franchise fee, 6.0% ongoing royalty.
  • Average unit revenue of $1.8M/year (median $1.6M).
  • Rated STRONG with a risk score of 51/100. SBA loan default rate of 0.0% across 225 loans (below the industry average).
  • System growing at 40.1% CAGR over 3 years with 386 total units — strong expansion trajectory.

Item 1 · who you're contracting with

The Franchisor

Legal entity
AFC Franchising, LLC
Parent company
American Family Care, LLC
Incorporated in
Alabama
HQ
3700 Cahaba Beach Road, Birmingham, Alabama 35242
Auditor
Grant Thornton LLP
Audited financials
Franchisor revenue
$33.0M
vs $39.5M prior year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one American Family Care unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $1,774,747
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: personal services
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $956K–$1.5M
Working capital
$
FDD reports $200K–$500K

Unlevered ROIC · per unit

26%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$408K
EBITDA margin
23.0%
Total invested
$1.6M
Payback
47 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 American Family Care units return on equity?

Edit assumptions

Equity IRR · 5-yr

26.2%

3.20× MOIC

Year-1 DSCR

3.16×

EBITDA ÷ debt service

Equity required

$14.9M

on $28.4M purchase

Total debt

$13.5M

SBA $5.0M + senior + seller note

SBA 7(a) request ($14.2M) exceeds the $5M program cap. Excess capped automatically; backfill via conventional or equity.

Overview

About

Franchisees operate urgent care clinics providing walk-in medical services (acute illness/injury treatment, minor procedures, diagnostics). Day-to-day operations include managing clinical and administrative staff, patient intake/triage, provider scheduling, insurance billing, inventory management, and compliance with state/federal healthcare regulations.

CEO
Jeremy Morgan
Founded
2013
FDD year
2025
States available
29

Item 7 · what it costs

The Vitals

Total investment
$956K – $1.5M
All-in to open one unit
Liquid capital
$200K – $500K
Cash you must have on hand
Franchise fee
$60K
Royalty
6.0%
Net Payments · typical 6–8%
Ad fund
1.0%
typical 3–5%
Total fee load
7.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$1.8M
Per unit, per year
Median gross sales
$1.6M
Item 19 type
Average Cash Revenue, Annual Visits, Patients Per Day
Sample size
348 units
vs category median 12 · large
Range (low → high)
$134K$4.8M
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank53th
vs Health & Wellness - Other peers
Investment cost rank98th
Lower investment ranks lower (better)
Royalty rate rank16th
Lower royalty = lower percentile (better)
Unit count rank94th
vs Health & Wellness - Other peers
Risk score rank21th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
386
Opened
37
Last reporting year
Closed
1
Turnover rate
0.3%
Company-owned
82
Corporate units in the system
% franchised
79%
vs corporate-owned
Net growth (yr3)
+10.5%
Net unit change last year
3-yr CAGR
+40.1%
Compounded over last 3 years
2023
304+29
Franchised units
2024
275
Franchised units
2025
217
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 14 states with active franchisees

The Territory Map

Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 14 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

Total loans
225
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

51
Risk · 0-100
STRONG51 / 100

Moderate-to-high risk: Healthcare franchise with active litigation, missing profitability disclosure, regulatory history (False Claims Act), and slowing unit growth masking unclear unit economics.

Score breakdown · what drove the 51 / 100 rating

  1. 01MEDNo Item 19 (Average Net Income) disclosed—impossible to validate 1.77M revenue translates to acceptable profit after 6% royalty, labor, and overhead in urgent care model
  2. 02HIGHActive litigation on franchise termination and contract breach (Boni-Graceful, Trovato) suggests franchisor enforcement issues or franchisee performance disputes
  3. 03MINORPrior False Claims Act settlement (Salters) indicates potential billing/compliance issues in healthcare vertical—critical regulatory risk
  4. 04HIGHGoing Concern = False is ambiguous but combined with litigation and missing profitability data raises sustainability questions
  5. 05MINORUnit growth of 10.5% YoY is modest for urgent care franchise (2023-2024 healthcare franchises averaged 12-15%); may indicate saturation or quality concerns
  6. 06MINORExclusivity dispute history (Purugganan) and master developer termination (Lavender) suggest franchisor-franchisee alignment issues and territorial conflicts

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Population-based
Protected territory
Yes
Initial term
10 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
5
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Alabama

Item 11

Training & Operations

Classroom training
20 hrs
On-the-job training
78 hrs
POS system
Experity
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

95 numbers

Locked
(203) 916-••••
CT
(303) 477-••••
CO
(310) 868-••••
CA

One-time purchase · CSV download · Validation questions included

FDD download

American Family Care · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above