FranchiseVerdict
Bubbly Paws logo
FV-00406·MODERATEExcellent86

Bubbly Paws

Personal Services - Pet CareFranchising since 2021Website
Investment
$197K – $371K
57th pct Pet Care
Avg revenue
$437K
20th pct Pet Care
Royalty
0.0%
0th pct Pet Care
Units
5
30th pct Pet Care
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $197K – $371K including a $45K franchise fee, 0.0% ongoing royalty.
  • Average unit revenue of $437K/year. Estimated payback in 5.0 years.
  • Rated MODERATE with a risk score of 65/100. SBA loan default rate of 0.0% across 4 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Bubbly Paws Franchising, LLC
Incorporated in
Minnesota
HQ
4737 Chicago Ave., Minneapolis, Minnesota 55407
Auditor
Kezos & Dunlavy
Audited financials
Franchisor revenue
$0
vs $0 prior year

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 Bubbly Paws unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $436,620
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: automotive
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $197K–$371K
Working capital
$
FDD reports $15K–$25K

Unlevered ROIC · per unit

34%

In Yale's "attractive" band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$105K
EBITDA margin
24.0%
Total invested
$304K
Payback
35 mo
Unit-level 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 Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Bubbly Paws units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$1.5M

on $7.4M purchase

Total debt

$5.9M

SBA $3.7M + senior + seller note

Overview

About

Bubbly Paws appears to be a pet wellness or grooming franchise where franchisees operate retail/service locations serving pet owners. Day-to-day operations likely involve customer service, pet handling, inventory management, and staff supervision, with revenue averaging $436,620 annually.

CEO
Keith Miller
Founded
2021
FDD year
2023
States available
2

Item 7 · what it costs

The Vitals

Total investment
$197K – $371K
All-in to open one unit
Liquid capital
$15K – $25K
Cash you must have on hand
Franchise fee
$45K
Royalty
0.0%
Percentage of Gross Sales · typical 6–8%
Ad fund
1.0%
typical 3–5%
Total fee load
1.0%
vs 9–13% typical
Payback period
5.0 yrs
From v3 / Item 19

Item 19

Financial Performance

Avg gross sales
$437K
Per unit, per year
Median gross sales
Item 19 type
Historic Affiliate Performance
Sample size
2 units
vs category median 12 · small
Range (low → high)
$312K$562K
Cohort dispersion
Transparency
6 / 5
vs category median 4 / 5 · above
Revenue rank20th
vs Personal Services - Pet Care peers
Investment cost rank57th
Lower investment ranks lower (better)
Royalty rate rank0th
Lower royalty = lower percentile (better)
Unit count rank30th
vs Personal Services - Pet Care peers
Risk score rank67th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
5
Opened
0
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
5
Corporate units in the system
% franchised
0%
vs corporate-owned
2021
0±0
Franchised units
2022
0
Franchised units
2023
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)

Government records

SBA Loan Data

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

Total loans
4
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

65
Risk · 0-100
MODERATE65 / 100

Small, financially unstable franchisor with limited system validation, thin margins, and going concern issues present meaningful investment risk despite protected territory.

Score breakdown · what drove the 65 / 100 rating

  1. 01HIGHGoing Concern status is False — indicates financial instability or viability questions at franchisor level
  2. 02MINOROnly 5 units system-wide with unknown growth trajectory — suggests stagnant or contracting franchise system
  3. 03MEDNo Item 19 financial performance representations disclosed — cannot validate if $436,620 average revenue is achievable or typical
  4. 04MINORNet profit margin of only 13.1% ($57,344 on $436,620) is thin and may not support $197k-$371k initial investment ROI within reasonable timeframe
  5. 05MINOREscalating royalty structure (0% → 3% → 6%) could squeeze profitability in years 2-3 when cash flow is critical
  6. 06MINORMinimal franchise system size (5 units) creates higher franchisor dependency risk and reduced purchasing power/support infrastructure

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Non-exclusive territory
Protected territory
Yes
Initial term
10 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required

Item 11

Training & Operations

Classroom training
16 hrs
On-the-job training
24 hrs

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

2 numbers

Locked
(612) 605-••••
MN
(317) 232-••••
IN

One-time purchase · CSV download · Validation questions included

FDD download

Bubbly Paws · FDD (2023) PDF

Single-page checkout · instant download · CSV export of contacts available separately above