Angelina Italian Bakery
Bottom line
- Total investment $516K – $1.9M including a $50K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $2.0M/year (median $1.3M).
- Rated MODERATE with a risk score of 63/100. SBA loan default rate of 0.0% across 8 loans (below the industry average).
- No protected territory and the franchisor reserves the right to compete in your area. Clarify territorial boundaries before signing.
Item 1 · who you're contracting with
The Franchisor
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 Angelina Italian Bakery unit return on the cash you put in?
Unlevered ROIC · per unit
23%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Angelina Italian Bakery units return on equity?
Equity IRR · 5-yr
32.9%
4.14× MOIC
Year-1 DSCR
2.46×
EBITDA ÷ debt service
Equity required
$6.2M
on $16.0M purchase
Total debt
$9.8M
SBA $5.0M + senior + seller note
Overview
About
Angelina Italian Bakery franchisees operate artisanal Italian bakery retail locations, managing daily production of breads, pastries, and baked goods, staffing a small team, handling inventory and supplier relationships, and serving walk-in and wholesale customers. Day-to-day operations include baking, customer service, point-of-sale management, food safety compliance, and local marketing.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 5 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).
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.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Angelina Italian Bakery presents meaningful risk due to undisclosed net income, going concern uncertainty, lack of territory protection, and unverified profitability at high investment levels.
Score breakdown · what drove the 63 / 100 rating
- 01HIGHGoing Concern status is False — indicates potential financial instability or undisclosed operational challenges at corporate level
- 02MEDNet Income not disclosed — inability to verify actual profitability; average revenue of $2M does not guarantee positive returns after 5% royalties, COGS, labor, and rent
- 03MINORNo protected territory — franchisees face direct competition from other Angelina locations and potential cannibalization within same market
- 04MINORHigh investment range ($515K–$1.9M) with unverified return metrics — ROI timeline and payback period unclear
- 05MINOROnly 9 units with 100% YoY growth is modest — suggests either very recent launch or slow, cautious expansion (maturity concerns or unit quality issues)
- 06MINOR10-year term locks franchisee into relationship with financially opaque franchisor
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
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
12 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Angelina Italian Bakery · FDD (2026) PDF