FranchiseVerdict
BUMBLE BEE BLINDS logo
FV-00418·STRONGExcellent95

Bumble Bee Blinds

Home Services - OtherFranchising since 2022Website
Investment
$165K – $211K
78th pct Other
Avg revenue
$486K
17th pct Other
Royalty
Units
153
85th pct Other
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $165K – $211K including a $60K franchise fee.
  • Average unit revenue of $486K/year (median $392K).
  • Rated STRONG with a risk score of 52/100. SBA loan default rate of 0.0% across 70 loans (below the industry average).
  • System growing at 1000.0% CAGR over 3 years with 153 total units — strong expansion trajectory.

Item 1 · who you're contracting with

The Franchisor

Legal entity
HPB Blinds and Shutters LLC
Parent company
JEZ Investments LLC
Incorporated in
Pennsylvania
HQ
2525 N. 117th Avenue, Omaha, Nebraska 68164
Auditor
Forvis Mazars, LLP
Audited financials
Franchisor revenue
$3.4M
vs $1.1M 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 BUMBLE BEE BLINDS unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $486,075
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: restoration
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $165K–$211K
Working capital
$
FDD reports $20K–$40K

Unlevered ROIC · per unit

22%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$49K
EBITDA margin
10.0%
Total invested
$218K
Payback
54 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 BUMBLE BEE BLINDS 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

$292K

on $1.5M purchase

Total debt

$1.2M

SBA $0.7M + senior + seller note

Overview

About

Bumble Bee Blinds franchisees operate a window covering retail and installation business, selling custom blinds, shades, and shutters to residential and commercial customers. Daily operations include sales consultations, site measurements, product ordering/inventory management, and coordinating professional installation teams. Revenue is generated through product markup and installation labor.

CEO
Anthony “Tony” Hulbert
Founded
2022
FDD year
2025
States available
18

Item 7 · what it costs

The Vitals

Total investment
$165K – $211K
All-in to open one unit
Liquid capital
$20K – $40K
Cash you must have on hand
Franchise fee
$60K
Royalty
the greater of (i) tiered percentage of Gross Revenues Co…
Ad fund
3.0%
typical 3–5%
Total fee load
9.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$486K
Per unit, per year
Median gross sales
$392K
Item 19 type
Gross Sales
Sample size
12 units
vs category median 21
Range (low → high)
$177K$1.2M
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank17th
vs Home Services - Other peers
Investment cost rank78th
Lower investment ranks lower (better)
Royalty rate rank54th
Lower royalty = lower percentile (better)
Unit count rank85th
vs Home Services - Other peers
Risk score rank30th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
153
Opened
112
Last reporting year
Closed
14
Turnover rate
9.2%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Net growth (yr3)
+178.2%
Net unit change last year
3-yr CAGR
Outlier (see FDD)
Likely small-sample artifact
2023
153+98
Franchised units
2024
55
Franchised units
2025
5
Franchised units

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

Item 20 · 26 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 26 states
Not registered

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.

Total loans
70
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

52
Risk · 0-100
STRONG52 / 100

Bumble Bee Blinds presents elevated risk due to active litigation, non-transparent unit economics, aggressive unsustainable growth trajectory, and parent company financial uncertainties despite a protected territory and reasonable initial investment.

Score breakdown · what drove the 52 / 100 rating

  1. 01HIGHActive litigation involving parent company governance and ownership disputes creates operational uncertainty and potential distraction from franchisee support
  2. 02MINORNo average net income disclosure despite 153 units operating — impossible to validate ROI claims or unit economics transparency
  3. 03MINORExplosive 178.2% YoY unit growth is unsustainable and suggests potential oversaturation of territories or recruitment-driven expansion rather than organic demand
  4. 04MINORMinimum $500/month royalty fee ($6,000 annually) represents 1.2% of average revenue even at top tier — high fixed cost burden for struggling locations
  5. 05HIGHGoing Concern status is FALSE — ambiguous language requiring immediate clarification on parent company financial health and bankruptcy risk
  6. 06MINORHigh franchise fee ($59,500) coupled with non-disclosure of net income creates misalignment of incentives — franchisor profits upfront while franchisee bears long-term risk

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
Population-based
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
1
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
Governing law
Pennsylvania

Item 11

Training & Operations

Classroom training
116 hrs
On-the-job training
0 hrs
POS system
Service Titan
Operating tech stack

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

65 numbers

Locked
(440) 759-••••
OH
(732) 808-••••
NJ
(720) 465-••••
CO

One-time purchase · CSV download · Validation questions included

FDD download

BUMBLE BEE BLINDS · FDD (2025) PDF

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