Bottom line
- Total investment $226K – $516K including a $80K franchise fee.
- 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 2 loans (below the industry average).
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
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 Bath Fitter unit return on the cash you put in?
Unlevered ROIC · per unit
18%
Below typical band (30–60%)
Overview
About
Bath Fitter franchisees sell and install custom-fitted bathtub and shower liners, wall systems, and related bathroom remodeling products directly to residential customers. Day-to-day operations involve in-home consultations, measurements, product design, installation scheduling, and managing a small crew of installers. Revenue is primarily generated through direct-to-consumer sales and installation services in a protected geographic territory.
Item 7 · what it costs
The Vitals
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
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 29 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
Bath Fitter presents meaningful caution risk due to lack of financial transparency (no Item 19), undefined royalty structure, stagnant unit growth, and franchisor going concern issues, making it difficult to assess true profitability and franchise viability.
Score breakdown · what drove the 65 / 100 rating
- 01MEDNo Item 19 financial disclosure (Average Revenue and Net Income not disclosed) — impossible to validate ROI claims
- 02MINORRoyalty fee structure is undefined and discretionary — franchisor can impose up to 2.5% retroactively, creating unpredictable cost burden
- 03MEDStagnant unit growth (1.0% YoY) suggests market saturation, franchisee struggles, or brand decline in a mature bathroom remodeling sector
- 04MEDHigh initial investment range ($225.5K–$515.5K) with no disclosed average revenue or profitability benchmarks — cannot assess payback period
- 05HIGHGoing Concern status is FALSE — indicates potential financial instability of franchisor itself, threatening support and system viability
- 06MINOR5-year term is relatively short in franchise context — may indicate franchisor hesitancy or frequent renegotiation disputes
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
68 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Bath Fitter · FDD (2025) PDF