Blowfish Poke
Bottom line
- Total investment $123K – $339K including a $35K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $293K/year (median $262K).
- Rated MODERATE with a risk score of 55/100. SBA loan default rate of 0.0% across 4 loans (below the industry average).
- Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
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 Blowfish Poke unit return on the cash you put in?
Unlevered ROIC · per unit
19%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Blowfish Poke 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
Overview
About
Franchisees operate fast-casual poke bowl restaurants or mobile food truck/trailer concepts, preparing and selling fresh raw fish bowls with customizable toppings and sauces. Daily operations include inventory management, food prep, customer service, staffing, and point-of-sale management across either brick-and-mortar locations or mobile routes.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 16 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
Blowfish Poke presents elevated risk due to an underdeveloped franchise system (5 units), missing profitability disclosures, and unvalidated financial performance claims despite moderate investment requirements.
Score breakdown · what drove the 55 / 100 rating
- 01MEDOnly 5 units system-wide indicates extremely limited operating history and unproven scalability model
- 02MEDNet income not disclosed despite average revenue of $292,760 — inability or unwillingness to share profitability metrics is a major transparency concern
- 03MINORWide investment range ($122,750–$338,750) with unclear cost drivers suggests inconsistent unit economics or hidden variables
- 04MEDNo disclosed growth trajectory for the 5-unit system raises questions about franchise appeal and unit economics viability
- 05MINORItem 19 financial performance representations absent — cannot validate that $292,760 average is achievable or sustainable for new franchisees
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
17 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Blowfish Poke · FDD (2025) PDF