Blingle! Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Blingle! is a home-services franchise providing permanent and seasonal outdoor lighting, holiday, landscape, and event lighting, design and installation. Franchisees run a crew-based operation handling consultations, installs, and takedowns in a territory.
FranchiseVerdict summary · 2026
A Blingle! franchise requires a total initial investment of $173K – $227K, including a $60K franchise fee. Per the 2025 FDD, average unit revenue was $488K[2]. SBA 7(a) loans show a 6.3% charge-off rate across 49 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $173K – $227K
- 72nd pct Home Services
- Avg gross sales
- $488K
- 11th pct Home Services
- Royalty
- N/A
- Units
- 78
- 53rd pct Home Services
- SBA charge-off
- 6.3%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Home Services · color = vs category peers
Green = favorable by >10% vs Home Services 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 $173K – $227K including a $60K franchise fee.
- RETURNSAverage unit revenue of $488K/year (median $364K).
- RISKVerdict A (Strongest tier), verdict score 65/100 (higher is better). SBA loan charge-off rate of 6.3% across 49 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- FLAG45 units terminated last reporting year (57.7% of the system). Ask existing franchisees why.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- HPB Lighting LLC
- Parent company
- JEZ Investments LLC
- Predecessor
- Heroes Management Services, LLC d/b/a Heroes Holiday Lighting
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Anthony Hulbert
- Incorporated in
- PA
- HQ
- 2525 N. 117th Avenue, Third Floor, Omaha, Nebraska 68164
- Auditor
- Forvis Mazars, LLP
- Audited financials
- Franchisor revenue
- $2.2M
- vs $3.5M prior year
Affiliated brands
- HorsePower Nation
- HPB Automotive Sales
- HPB Accounting
- HPB Lighting Holdings
- HPB Blinds and Shutters
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Anthony Hulbert
- Headquarters
- NE
- Founded
- 2020
- FDD year
- 2025
- States available
- 18
Can you afford it, and what does the money buy?
Entry cost runs 11% below the typical home services franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown21 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $60K | $60K | |
| Insurance (90 days)not refundable | $3K | $10K | |
| Tuition Feenot refundable | $5K | $5K | |
| Travel and Living Expenses while Trainingnot refundable | $2K | $4K | |
| Opening Packagenot refundable | $9K | $12K | |
| Initial Inventorynot refundable | $10K | $15K | |
| Rent & Utilities (90 days)not refundable | $600 | $1K | |
| Vehiclesnot refundable | $15K | $17K | |
| Licenses Certificates and Permitsnot refundable | $0 | $3K | |
| Professional Feesnot refundable | $1K | $11K | |
| Technology Feenot refundable | $570 | $570 | |
| CRM Feenot refundable | $2K | $2K | |
| Special Software Feenot refundable | $900 | $900 | |
| Contact Center Feenot refundable | $1K | $4K | |
| Dues and Subscriptionsnot refundable | $0 | $1K | |
| Brand Marketing Feenot refundable | $16K | $16K | |
| Initial Marketing Expenditure and Local Advertising Expenditure (90 days)not refundable | $20K | $20K | |
| Digital Management Feenot refundable | $2K | $2K | |
| Accounting Services Feenot refundable | $2K | $2K | |
| ZeePartnerships Feenot refundable | $5K | $5K | |
| Total initial investment | $173K | $227K |
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
- $173K – $227K
- Bottom third — review vs category
- Liquid capital req'd
- $20K – $40K
- Middle of category vs category
- Franchise fee
- $60K – $60K
- Middle of category vs category
- Royalty
- Greater of: (i) tiered % of Gross Revenues Collected (5% …
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 0.0% of gross sales |
| Technology fee | $190 |
| Training fee | $5K |
| Transfer fee | $12K |
| Renewal fee | $12K |
| Inventory (initial) | $10K – $15K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 61% below the home services norm.
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
$63K
13.0% margin
Unlevered ROIC
28%
EBITDA / total invested capital
Payback
3.6 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
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 Blingle! unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
28%
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 Blingle! units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$586K
on $2.9M purchase
Total debt
$2.3M
SBA $1.5M + 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
- Avg gross sales
- $488K
- Per unit, per year
- Median gross sales
- $364K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 18 franchisees
- vs category median 32
- Range (low → high)
- $48K→$1.9M
- Cohort dispersion (min → max)
- Transparency tier
- full
- Categorical assessment of disclosure depth
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 321 Home Services 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 $488K/year in gross sales. Median is $364K — top performers pull the average up, so a typical unit earns less. Revenue-to-investment ratio: 2.4x.
Fee burden
Total ongoing fee load of 8.0% (near the Home Services average).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System contracting at -31.0% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
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 Home Services averages
How Blingle! Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 78
- Opened
- 21
- Last reporting year
- Closed
- 0
- Terminated
- 45
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +102.8%
- Net unit change over 3 years
- 3-yr CAGR
- -31.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 109
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Transfer rate
- 0.4%
- Owners selling to other franchisees
- Continuity rate
- 61.4%
- Units that stayed open
- Termination rate
- 2.2%
- Franchisor-initiated terminations
- Ceased ops
- 0.2%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- California
- Hawaii
- Indiana
- Maryland
- Michigan
States where the franchisor is registered to sell new franchises (FDD registration filings).
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 49
- Loan volume
- $16.6M
- Median loan
- $427K
- 50th percentile
- Charge-off rate
- 6.3%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 93.8%
- 5-yr charge-off
- 6.3%
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 1
- Typical loan rate
- 9.0%
- avg rate to borrowers
- Franchised industry avg
- 16.5%
- brand beats franchise avg ↓
- Jobs supported
- 392
- 2.4 per loan
- Lender concentration
- 82%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in electrical contractors, franchised businesses charge off at 16.5% vs 15.5% for independents — franchising is associated with 6% higher SBA default risk in this category.
Top lenders financing Blingle! franchisees
Showing 3 of 7 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Blingle!'s SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 7 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 3-year lending trend
Instant access. No subscription.
What could kill this investment?
SBA loans charge off at 6.3% — 61% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
One material civil action involving parent JEZ Investments LLC: Beutler Holdings LLC and Zachery Beutler v. Joshua Skolnick, Skolnick Holdings LLC, and JEZ Investments LLC (AAA, Omaha, NE, filed December 8, 2025) — governance and ownership dispute; pending, no determination made
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Forvis Mazars, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 65 / 100 verdict
- 01MEDSystem contracting sharply: 26.4% unit decline YoY (78 units now) signals serious franchisee distress or poor system health
- 02HIGHActive litigation involving parent company ownership/governance creates uncertainty about franchisor stability and decision-making authority
- 03MEDNo Item 19 (Average Unit Volume) disclosed despite $488K average revenue claim — prevents verification of profitability and franchisee sustainability
- 04MINORTiered royalty structure with $500/month minimum may be unsustainable for struggling franchisees in declining system
- 05HIGHGoing Concern status = FALSE is ambiguous; if this means franchisor lacks going concern, indicates serious financial distress
- 06MEDHigh initial investment ($172-227K) relative to disclosed average revenue ($488K) with unknown net income creates ROI opacity
- 07MINORSeasonality risk: holiday decoration business has concentrated revenue window; no disclosure of off-season sustainability
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 |
| Exclusive territoryℹ | No |
| Territory population | 200,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Bucks County, Pennsylvania (AAA) |
| Jury trial waiver | No |
| Governing law | PA |
| Litigation count | 1 |
View Item 3 litigation summary
One material civil action involving parent JEZ Investments LLC: Beutler Holdings LLC and Zachery Beutler v. Joshua Skolnick, Skolnick Holdings LLC, and JEZ Investments LLC (AAA, Omaha, NE, filed December 8, 2025) — governance and ownership dispute; pending, no determination made
Items 10, 11
Training & Operations
- Classroom training
- 33 hrs
- On-the-job training
- 37 hrs
- Training location
- Omaha, Nebraska (Phase III in-person); Phases I and II online/webinar
- Ongoing training
- Required
- Time to open
- 5 mo
- From signing to launch
- Site selection
- Franchisee selects with franchisor approval; may use home office + storage facility
- Franchisor financing
- Offered
- Item 10
- POS system
- POS System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: POS System
Item 20 · call current owners
Franchisee Contacts
23 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Blingle! · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Blingle! franchise?
The total investment to open a Blingle! franchise ranges from $173K – $227K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Blingle! franchise owners earn?
According to Item 19 of the Blingle! FDD, the average gross sales per unit is $488K. The median is $364K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Blingle! 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 Blingle! FDD and qualifies whose outlets they describe.
What is Blingle!'s franchise failure rate?
Based on SBA 7(a) loan data, Blingle! has a charge-off rate of 6.3% across 49 loans, meaning 6.3% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Blingle! franchise locations are there?
As of their most recent FDD filing, Blingle! has 78 total units in the United States, including 78 franchised units and 0 company-owned units. 21 new units were opened in the latest reporting year.
Is Blingle! a good franchise to buy?
FranchiseVerdict rates Blingle! as a A-grade franchise with a verdict score of 65 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
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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.