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BeaverTails Franchise Cost, Revenue & Review 2026

Quick-Service RestaurantsQuebec (Montreal, Canada)Franchising since 2015
BAbove averageAbove average46/100Editorial grade from public filings; not investment advice.
Investment
$494K – $1.2M
Disclosed sales
partial, no system average
SBA charge-off
Not SBA-matched

Investment, fees, disclosed sales, units, SBA record and risk, as one PDF. Free; no spam; one click to unsubscribe.

FV-00262FDD 2025Data QualityExcellent81%
Owner-operator requiredYes: Protected territory

Data from FDD filing

Analysis by FranchiseVerdict Research · Methodology

BeaverTails is a quick-service franchise serving its iconic Canadian fried-dough pastries and sweet snacks. Franchisees run the shops and kiosks, managing production, staffing, and counter service.

FranchiseVerdict summary · 2026

A BeaverTails franchise requires a total initial investment of $494K – $1.2M, including a $35K franchise fee. The 2025 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →

Sources, dates and evidence

FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file

Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 4 headline figures on this page cite a page of the filing.

Overview

Investment
$494K – $1.2M
75th pct Service Resta…
Avg gross sales
N/A
Projection2 outlets
Royalty
0.0%
0th pct Service Resta…
Units
2
9th pct Service Resta…
SBA charge-off
N/A

Quick verdict · Quick-Service Restaurants · color = vs category peers

Total Investment
$494K – $1.2M
Median $486K
above median ↑, worse than category
Franchise Fee
$35K – $35K
Median $35K
near median
Liquid Capital Req'd
$15K – $20K
Median $33K
below median ↓, better than category
Avg Revenue
Partial, no system average
No system average in Item 19
Royalty Rate
0.0%
Median 5.5%
below median ↓, better than category
Ongoing Fees
Not extracted
Median 7.5%
SBA Charge-Off Rate
Not SBA-matched
Not matched to SBA 7(a) loans
System Size
2 units
Median 18 units
below median ↓, worse than category
Turnover Rate
N/A
Median 0.0%
Territory
Protected, not exclusive
Limits on the franchisor opening nearby; not an exclusive zone
Owner-Operator
Required
You must run it yourself
Litigation
None disclosed
Clean record

Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)

Data from public FDD filings and SBA records. Not financial advice. Methodology

Bottom line

  • COSTTotal investment $494K – $1.2M including a $35K franchise fee, 0.0% ongoing royalty.
  • RETURNSItem 19 reports other rather than annual gross sales, so unit revenue is not directly comparable.
  • RISKVerdict B (Above average), verdict score 46/100 (higher is better).
  • GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 closed) (Item 20).
  • DATAItem 19 reports other rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.

Item 1 · who you're contracting with

The Franchisor

Corporate structure & franchisor financials
Legal entity
BeaverTails USA Inc.
Parent company
Les Entreprises Twin25 Inc.; 1737973 Ontario Inc.; 9005-0790 Quebec Inc.
FDD Item 1, page 8 of the 2025 FDD
CEO title
President & Chief Executive Officer
Pino Di Ioia
CEO experience
2014 yrs
Years in role or industry
Founder active
Yes
Original founder still leading the business
Incorporated in
Delaware
HQ
106 – 3700 Rue St-Patrick, Montreal, Quebec, Canada H4E 1A2
Auditor
CPAmerica / Crowe Global member firm (St. Louis Park, Minnesota)
Audited financials
Franchisor revenue
$114K
vs $143K prior year

Independent franchisee associations

  • Franchise Advisory Council (FAC)

Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.

Overview

About

CEO
Pino Di Ioia
Headquarters
Quebec (Montreal, Canada)
Founded
2014
FDD year
2025
States available
2

Can you afford it, and what does the money buy?

Entry cost runs 70% above the typical quick-service restaurants franchise.

Total investment (Item 7)$494K – $1.2MCited, not corroborated — printed on page 18 of the 2025 FDD (Item 7). Nothing else in our record independently restates or re-derives it.
Franchise fee$35,000Verified — printed on page 11 of the 2025 FDD (Item 5), and another item of the same filing prints the same figure on a labelled row, which is an independent restatement.
Royalty0.0%Cited, not corroborated — printed on page 28 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
Ad fundNot extracted
Working capital$15K – $20K

Source: FDD 2025 · Items 5–7

Full Item 7 breakdown26 line items

Initial investment breakdown

Item 7 initial investment line items
Line itemLowHigh
Initial Franchise Feenot refundable$35K$35K
Lease Deposit, Utility Deposit and Rent - 3 months$46K$63K
Design$12K$30K
Engineering, Architect Plans and Development/Building Permits$5K$30K
Construction / Build Out of Store/Premises$150K$400K
Project Manager Fee$8K$15K
Ventilation - HVAC and Kitchen Exhaust Ventilation System$25K$105K
Millwork$35K$75K
Storage room/area build out$2K$5K
Offsite storage, if necessary$0$35K
Signage$12K$30K
Equipment$75K$150K
Equipment for Gelato/Ice Cream Program$19K$25K
Small wares$3K$4K
Stainless Steel Countertops$4K$8K
Furniture (Interior only)$2K$6K
Digital Menus$11K$15K
Walk-in-Freezer, if applicable$0$15K
POS System$6K$10K
Opening Inventory$8K$25K
Total initial investment$494K$1.2M

Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.

Item 7 · what it costs to open + operate

The Vitals

Total investment
$494K – $1.2M
Bottom third — review vs category
Liquid capital req'd
$15K – $20K
Top 40% of category vs category
Franchise fee
$35K – $35K
Middle of category vs category
Royalty
0.0%
typical 6–8%
Ad fund
Flat fee per case of Units (CAD$43.14 / USD$31.08 per ~19…

Ongoing fees · Item 6

BeaverTails: Item 6 recurring fees
FeeAmount
Royalty0.0%
Technology fee$60
Training fee$950
Transfer fee$18K
Renewal fee$9K
Inventory (initial)$8K – $25K

What do units actually make?

Avg gross salesNot extracted
Median gross salesNot extracted
Item 19 typeother
Sample sizeNot extracted

Source: FDD 2025 · Item 19

ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Blue values = direct from FDD (Item 7 investment, Item 19 revenue, Item 6 fees)Not set = no filing supplies it and we will not substitute one. Enter your own

No Item 19 revenue figure for BeaverTails is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.

Returns model · single-unit ROIC

What would one BeaverTails unit return on the cash you put in?

From FDDNot set — you supply itYou overrode an FDD value
Revenue · per unit, per yearnot set
Item 19 not disclosed. Enter your own revenue assumption
Franchisor take · royalty + ad fundFDD
typ 6–8%
typ 3–5%
Operating costs · not in any FDDnot set

Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.

Total invested capital · what you put in to openFDD
FDD Item 7: $494K–$1.2M (midpoint used)
FDD reports $15K–$20K

Unlevered ROIC · per unit

Your modelled return on total invested capital, before any debt financing.

—

An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, ad fund rate, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.


Store EBITDA · annual
—
EBITDA margin
—
Total invested
$841K
Payback
—
Single-unit 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 point.

These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.

Item 19 · Source: 2025 FDD

Financial Performance

Item 19 reports other rather than annual gross sales, so unit revenue is not directly comparable. We omit it from rankings.

Showing the headline figures — all 116 extracted fields are in the Full FDD Report · $19 →

Operator outlook

What the numbers say

Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.

Fee burden

0.0% royalty — lower than the category average.

Disclosure

Item 19 reports other rather than annual gross sales, so unit revenue is not directly comparable.

Operator retention

Net unit growth roughly flat at 0.0%.

Multi-unit rate

Only 1% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.

Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.

vs Quick-Service Restaurants medians

How BeaverTails Compares

Metric
BeaverTails
Category median
vs median
Investment
$823K
$486Kmiddle half $342K–$748K · n=780
Above median, worse than category
Revenue
N/A
$975Kmiddle half $664K–$1.4M · n=284
N/A
Unit Count
2
18middle half 5–79 · n=755
Below median, worse than category

Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.

Is the system healthy?

Total units2Verified — printed on page 48 of the 2025 FDD (Item 20), and the table's own arithmetic closes on it two ways.
3-yr growth+0.0%

Source: FDD 2025 · Item 20

Unit growth

Item 20 · unit dynamics

The Growth Chart

Total units
2
Opened
0
Last reporting year
Closed
0
Terminated
0
Franchisor ended the franchise (per Item 20)
Non-renewed
0
Term expired, not renewed (per Item 20)
Turnover rate
N/A
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Multi-unit owners
1.0%
Net growth (3-yr)
+0.0%
Net unit change over 3 years
3-yr CAGR
+0.0%
Compounded over last 3 years

Last fiscal year · Item 20 exits and transfers

Terminated
0
Not renewed
0
Transferred
0
Reacquired
0
Franchisor bought back
Continuity rate
100.0%
Units that stayed open
2022
2
Franchised units
2023
2±0
Franchised units
2024
2±0
Franchised units

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

Item 12 · 2 states reported

The Territory Map

FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.

2

states with franchisees (per FDD Item 12)

SBA loan performance

Government records

SBA Loan Data

Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.

No SBA loan data available for this brand.

What could kill this investment?

SBA charge-offNot SBA-matched
Verdict score46/100 (higher is better)
Litigation0 cases
Auditor going-concern doubtNo (favorable vs category)

Source: SBA 7(a) FOIA · FDD Items 3, 21

Risk analysis

FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21

Risk & Legal

BAbove average46Verdict score 46/100

BeaverTails is an extremely early-stage franchise with a microscopic unit base, opaque unit economics, and a franchisor revenue model that may not align with franchisee success.

Moderate confidence±13 pts
3359

Litigation (Item 3)

Subject: officers or affiliates. The franchisor is not a named party in these cases.

No litigation required to be disclosed in Item 3.

Bankruptcy (Item 4)

None disclosed

Audited financials (Item 21)

Yes · CPAmerica / Crowe Global member firm (St. Louis Park, Minnesota)

Franchisor revenue (Item 21)

Yr 1: $0.1MYr 2: $0.1MNon-royalty: $0.1M

Franchisor entity revenue (not unit-level)

Supplier relationship · Items 8 & 16

  • Franchisor sells you products: Yes
  • Kickbacks from required suppliers: Yes
  • Must buy proprietary products: Yes
  • Restricted to system-approved products: Yes
  • Can negotiate own supplier terms: No

Score breakdown · what drove the 46 / 100 verdict

  1. 01MINOROnly 2 existing units — critically small system with no demonstrated scalability or proven model
  2. 02MINORNo average revenue or net income disclosure — inability to assess unit economics or ROI potential
  3. 03MINOR0% royalty model dependent on product rebates/markups — franchisor incentives misaligned with franchisee profitability
  4. 04MINORNo growth trajectory provided — 2 units may be stagnant or recently launched with unproven demand
  5. 05MED5-year term is shorter than industry standard — higher renewal risk and limited payback window

Severity inferred from the FDD text · not a regulatory classification

Showing the headline figures — all 116 extracted fields are in the Full FDD Report · $19 →

What are you signing up for?

Initial term5 yrs
Renewal term5 yrs
TerritoryProtected, not exclusive
Initial training95 hrs

Source: FDD 2025 · Items 11, 12, 17

FDD Items 12, 15, 17 · continued from Risk & Legal

Contract & Territory Detail

Initial term5 years
Renewal term5 years
Allowed renewalsℹ3
Territory typeProtected territory
Protected territoryYes
Exclusive territoryℹNo
Territory population200,000
Online sales rightsℹRestricted
Franchisor can competeYes
Hire a manager?Allowed
Owner-operatorRequired
Non-compete (years)ℹ1 year
Non-compete (miles)ℹ3 mi
Right of first refusalℹYes
Transfer requires consentYes
Termination notice10 days
Termination groundsℹ3
Curable defaultsℹ2
Mandatory arbitrationYes
Arbitration locationMinneapolis, Minnesota
Jury trial waiverYes
Governing lawState where the Store is located
Litigation count0
View Item 3 litigation summary

No litigation required to be disclosed in Item 3.

Items 10, 11

Training & Operations

Classroom training
18 hrs
On-the-job training
77 hrs
Training location
Montreal, Quebec (head office and Greater Montreal Area)
Ongoing training
Required
Time to open
12 mo
From signing to launch
POS system
Panasonic / Clearview
Operating tech stack

Items 5 & 11

Franchisor Support

✓Site selection assistance
✓Grand opening support

Technology: Panasonic / Clearview

Item 20 · call current owners

Franchisee Contacts

1 owners to call

Name · phone · city · state. Extracted from FDD Item 20

Unlock 1 contacts · $49
Free preview
(514) 392-••••

Frequently asked questions

Frequently Asked Questions

How much does it cost to open a BeaverTails franchise?

The total investment to open a BeaverTails franchise ranges from $494K – $1.2M, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).

What do BeaverTails franchise owners earn?

Item 19 of the BeaverTails FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.

Who owns BeaverTails?

BeaverTails is franchised by BeaverTails USA Inc.. Its parent company is Les Entreprises Twin25 Inc.; 1737973 Ontario Inc.; 9005-0790 Quebec Inc.. Source: FDD Item 1, 2025 filing.

What is Item 19 in the BeaverTails FDD?

The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the BeaverTails FDD and qualifies whose outlets they describe.

What is BeaverTails's franchise failure rate?

SBA 7(a) loan charge-off data is not available for BeaverTails (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.

How many BeaverTails franchise locations are there?

As of their most recent FDD filing, BeaverTails has 2 total units in the United States, including 2 franchised units and 0 company-owned units.

Is BeaverTails a good franchise to buy?

FranchiseVerdict rates BeaverTails as a B-grade franchise with a verdict score of 46 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.

Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.

For franchisors

Are you the franchisor?

If you represent BeaverTails, you can request corrections or provide updated information.

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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.