Birdcall Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Birdcall is a fast-casual franchise serving all-natural chicken sandwiches, salads, and breakfast with tech-forward ordering. Franchisees run the restaurants, managing food prep, staffing, and service.
FranchiseVerdict summary · 2026
A Birdcall franchise requires a total initial investment of $702K – $2.4M, including a $50K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $2.4M[2]. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $702K – $2.4M
- 87th pct Service Resta…
- Avg gross sales
- $2.4M
- Company-owned only32nd pct Service Resta…
- Royalty
- 6.0%
- 46th pct Service Resta…
- Units
- 12
- 41st pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants avg · 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 $702K – $2.4M including a $50K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $2.4M/year (median $2.4M) (company-owned outlets only - not franchisee performance), with an estimated 12% cash-on-cash return (based on SLEBITDA).
- RISKVerdict C (Average), verdict score 40/100 (higher is better).
- EARLYEmerging franchise: only 1 year of franchising with 12 units. Early-stage systems carry higher risk but may offer better territory availability.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Birdcall Franchising LLC
- Parent company
- Birdcall Holdings LLC
- CEO title
- Chief Executive Officer
- Mark Lohmann
- CEO experience
- 7 yrs
- Years in role or industry
- Incorporated in
- CO
- HQ
- 855 Wyandot Street, Suite 102, Denver, Colorado 80204
- Auditor
- Eide Bailly LLP
- Unaudited
- Franchisor revenue
- $0
- Most recent fiscal year
Overview
About
- CEO
- Mark Lohmann
- Headquarters
- CO
- Founded
- 2024
- FDD year
- 2025
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 136% above the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $50K | $50K | |
| Initial Training Feenot refundable | $10K | $10K | |
| Initial Technology Feenot refundable | $10K | $10K | |
| Real Estate | — | — | |
| Architectural, Design and Engineering Fees | $7K | $9K | |
| Legal Fees | $10K | $30K | |
| Permits | $500 | $15K | |
| Liquor Licenses | $0 | $15K | |
| Leasehold Improvements | $400K | $1.7M | |
| Furniture, Fixtures and Equipment | $100K | $350K | |
| Signage | $3K | $35K | |
| Smallwares | $2K | $5K | |
| Initial Inventory and Supplies | $8K | $20K | |
| Opening Advertising Program | $50K | $50K | |
| Insurance | $4K | $9K | |
| Travel and Living Expenses While Training | $3K | $15K | |
| Miscellaneous Opening Costs | $20K | $50K | |
| Additional Funds - 3 months | $25K | $35K | |
| Area Development Feenot refundable | $25K | $25K | |
| Total initial investment | $727K | $2.4M |
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
- $702K – $2.4M
- Bottom third — review vs category
- Liquid capital req'd
- $25K – $35K
- Middle of category vs category
- Franchise fee
- $50K – $50K
- Bottom third — review vs category
- Royalty
- 6.0%
- percentage · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
- Payback period
- 8.1 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $0 |
| Training fee | $10K |
| Transfer fee | $25K |
| Renewal fee | $15K |
| Inventory (initial) | $8K – $20K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 102% above the quick-service restaurants norm.
Company-owned outlets only - not franchisee performance
Source: FDD 2025 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$342K
14.0% margin
Unlevered ROIC
22%
EBITDA / total invested capital
Payback
4.6 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings vs. model
The FDD reports $351K as SLEBITDA. Our model estimates $342K SLEBITDA from the same revenue using category-average cost assumptions. These numbers differ because SLEBITDA deducts different expense categories than our model.
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one Birdcall unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
22%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 Birdcall units return on equity?
Equity IRR · 5-yr
31.8%
3.97× MOIC
Year-1 DSCR
2.54×
EBITDA ÷ debt service
Equity required
$7.0M
on $17.1M purchase
Total debt
$10.1M
SBA $5.0M + senior + seller note
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
Company-owned outlets only - not franchisee performance
- Avg gross sales
- $2.4M
- Per unit, per year
- Median gross sales
- $2.4M
- Avg slebitda
- $351K
- Reported as SLEBITDA in FDD Item 19
- Cash-on-cash
- 12.4%
- Based on SLEBITDA / investment midpoint
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- affiliate operated
- Sample size
- 5
- vs category median 20 · small
- Range (low → high)
- $2.0M→$2.7M
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 9 / 10
- vs category median 4 / 10 · above
Compared against 782 Quick-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $2.4M/year in gross sales. Revenue-to-investment ratio: 1.6x. Company-owned outlets only - not franchisee performance.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants average).
Disclosure
Transparency score 9/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence. Sample size of 5 units — treat as directional only.
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 averages
How Birdcall Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 12
- 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
- 0.0%
- Company-owned
- 12
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 5
- Franchisor's next-year forecast
- Ceased ops
- 16.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 3 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.
3
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?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Birdcall presents caution-level risk due to tiny unit count with unknown growth, absence of Item 19 disclosure, franchisor financial instability, and thin unit-level profitability relative to high capital requirements.
Litigation (Item 3)
No litigation required to be disclosed in Item 3
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
No audited financials on file
Franchisor revenue (Item 21)
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 40 / 100 verdict
- 01MINOROnly 12 units system-wide with unknown/stagnant growth trajectory raises expansion viability concerns
- 02MINORWide investment range ($702K-$2.4M) with $350K avg net income suggests inconsistent unit economics or high variability in performance
- 03HIGHGoing Concern status is FALSE — potential financial instability at franchisor level affects support infrastructure
- 04MINOR14.3% net margin (350K/2.44M) is modest for QSR with 6% royalty, leaving thin cushion for overhead and debt service on $702K-$2.4M SBA loans
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | No |
| Governing law | CO |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 50 hrs
- On-the-job training
- 140 hrs
- Training location
- Corporate office in Colorado and affiliate-owned restaurant or franchised restaurant
- Ongoing training
- Required
- Time to open
- 18 mo
- From signing to launch
- Site selection
- Franchisee selects, franchisor must accept
- Franchisor financing
- Not offered
- Item 10
- POS system
- Poncho
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Poncho
Item 20 · call current owners
Franchisee Contacts
1 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Birdcall · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Birdcall franchise?
The total investment to open a Birdcall franchise ranges from $702K – $2.4M, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Birdcall franchise owners earn?
According to Item 19 of the Birdcall FDD, the average gross sales per unit is $2.4M. The median is $2.4M. Important context: Company-owned outlets only - not franchisee performance. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Birdcall 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 Birdcall FDD and qualifies whose outlets they describe.
What is Birdcall's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Birdcall (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 Birdcall franchise locations are there?
As of their most recent FDD filing, Birdcall has 12 total units in the United States, including 0 franchised units and 12 company-owned units.
Is Birdcall a good franchise to buy?
FranchiseVerdict rates Birdcall as a C-grade franchise with a verdict score of 40 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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 Birdcall, 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.