Anthony’s Coal Fired Pizza & Wings
Bottom line
- Total investment $810K – $1.2M including a $50K franchise fee, 5.5% ongoing royalty.
- Average unit revenue of $2.1M/year (median $2.0M).
- Rated MODERATE with a risk score of 57/100. SBA loan default rate of 0.0% across 169 loans (below the industry average).
- Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
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 Anthony’s Coal Fired Pizza & Wings unit return on the cash you put in?
Unlevered ROIC · per unit
31%
In Yale's "attractive" band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Anthony’s Coal Fired Pizza & Wings units return on equity?
Equity IRR · 5-yr
30.9%
3.84× MOIC
Year-1 DSCR
2.61×
EBITDA ÷ debt service
Equity required
$7.7M
on $18.1M purchase
Total debt
$10.4M
SBA $5.0M + senior + seller note
Overview
About
Franchisees operate fast-casual coal-fired pizza and wings restaurants, managing food preparation, customer service, inventory, and day-to-day operations. Revenue averages $2.1M annually with royalties of 5.5% of gross sales. Operators must maintain brand standards, manage labor costs, and drive local marketing within their protected territory.
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 · 3 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
Meaningful litigation exposure, opaque unit economics, stagnant growth, and corporate financial fragility create elevated risk despite moderate investment requirements and protected territory.
Score breakdown · what drove the 57 / 100 rating
- 01HIGHPending litigation (2021) involving fraudulent inducement allegations related to Florida franchise locations creates unresolved legal exposure
- 02MEDNo disclosed average net income despite $2.1M average revenue makes ROI analysis impossible; 5.5% royalty on $2.1M = ~$117K annual royalty burden
- 03MINORUnit count stagnation at 60 units with unknown growth trajectory suggests market saturation or franchisee underperformance
- 04HIGHGoing concern status indicates financial instability at corporate level, raising questions about franchisor support and viability
- 05HIGHAffiliate BurgerFi litigation history (2020 settlement + pending case) demonstrates pattern of development agreement disputes and raises reputational risk
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
3 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Anthony’s Coal Fired Pizza & Wings · FDD (2023) PDF