FranchiseVerdict
Antioch Pizza Shop logo
FV-00150·MODERATEExcellent81

Antioch Pizza Shop

Food & Beverage - Full ServiceFranchising since 2016Website
Investment
$106K – $729K
7th pct Full Service
Avg revenue
57th pct Full Service
Royalty
5.0%
15th pct Full Service
Units
10
41st pct Full Service
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $106K – $729K including a $40K franchise fee, 5.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated MODERATE with a risk score of 65/100. SBA loan default rate of 0.0% across 3 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Wix Franchise, Inc.
Incorporated in
Illinois
HQ
1368 Bayshore Drive, Antioch, Illinois 60002
Auditor
Kezos & Dunlavy
Audited financials
Franchisor revenue
$391K
vs $380K 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 Antioch Pizza Shop unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: generic
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $106K–$729K
Working capital
$
FDD reports $5K–$32K

Unlevered ROIC · per unit

29%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$128K
EBITDA margin
17.0%
Total invested
$436K
Payback
41 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.

Overview

About

Franchisees operate quick-service or casual pizza restaurants under the Antioch Pizza Shop brand, managing daily food preparation, customer service, staff scheduling, and local marketing. Daily operations include inventory management, food cost control, and maintaining brand standards across dine-in, takeout, and potentially delivery channels.

CEO
Karen Wicklein
Founded
2015
FDD year
2025
States available
2

Item 7 · what it costs

The Vitals

Total investment
$106K – $729K
All-in to open one unit
Liquid capital
$5K – $32K
Cash you must have on hand
Franchise fee
$40K
Royalty
5.0%
Gross Revenues · typical 6–8%
Ad fund
1.0%
typical 3–5%
Total fee load
6.0%
vs 9–13% typical

Item 19

Financial Performance

This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.

Item 20 · unit dynamics

The Growth Chart

Total units
10
Opened
2
Last reporting year
Closed
1
Turnover rate
10.0%
Company-owned
1
Corporate units in the system
% franchised
90%
vs corporate-owned
Net growth (yr3)
+12.5%
Net unit change last year
3-yr CAGR
+80.0%
Compounded over last 3 years
2023
9±0
Franchised units
2024
8
Franchised units
2025
5
Franchised units

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

Item 20 · 6 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 · 6 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
3
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

65
Risk · 0-100
MODERATE65 / 100

Antioch Pizza Shop presents elevated risk due to missing financial transparency (no Item 19), questionable franchisor stability (going concern = false), and a micro-system with anemic growth that lacks proven unit economics.

Score breakdown · what drove the 65 / 100 rating

  1. 01MINORNo Item 19 financial disclosure (revenue/net income) prevents ROI validation and profitability assessment
  2. 02HIGHGoing Concern status is False, indicating potential financial instability at franchisor level
  3. 03MINORWide investment range ($106K–$729K, ~587% spread) suggests inconsistent unit economics or hidden costs
  4. 04MINOROnly 10 units with 12.5% YoY growth is minimal scale; system shows weak expansion momentum
  5. 05HIGHNo litigation disclosed but small system size limits visibility into franchise relationship disputes
  6. 06MED5% royalty on undisclosed revenues makes fee burden impossible to evaluate against actual profitability

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
radius
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
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
Optional
Governing law
Illinois

Item 11

Training & Operations

Classroom training
20 hrs
On-the-job training
506 hrs
POS system
approved Point of Sale (POS) system
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

8 numbers

Locked
(847) 691-••••
Parmal Patel and Hemang Kakadia First Spice Ops LLC
IL
(773) 851-••••
Thomas L. Sadowski, Thomas Sadowski, Jr., Thomas Sadowski, Sr. and Carmela Sadowski Three Toms LLC
IL
(815) 505-••••
Kimberly Williams
NC

One-time purchase · CSV download · Validation questions included

FDD download

Antioch Pizza Shop · FDD (2025) PDF

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