Carousel’s Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Carousel's is a dessert franchise serving its signature dairy-free soft-serve icery and frozen treats. Franchisees run the shops, managing product prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Carousel’s franchise requires a total initial investment of $76K – $100K, including a $35K franchise fee and an ongoing 7.0% royalty[2]. The 2023 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2023 FDD issuance
Overview
- Investment
- $76K – $100K
- 2nd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 7.0%
- 34th pct Service Resta…
- Units
- 9
- 12th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-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 $76K – $100K including a $35K franchise fee, 7.0% ongoing royalty.
- RETURNSTotal revenue of $510,775 for fiscal year ended December 31, 2022, disclosed in Item 8; $92,487 (18%) derived from sales of products/services directly to franchisees. Item 21 balance sheets (audited, FYE 12/31/2020-2022) are in Exhibit D but were image-based and not present in the extracted text, so balance-sheet figures are unavailable.
- RISKVerdict C (Average), verdict score 43/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Carousel's Franchise Group, LLC
- Parent company
- Carousel's, LLC
- CEO title
- CEO
- Corey Curyto, Sr.
- CEO experience
- 12 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- FL
- HQ
- 5103 Lena Road, Suite 112, Bradenton, Florida 34211
- Auditor
- R. Evans & Assoc., Inc.
- Audited financials
- Franchisor revenue
- $511K
- vs $330K prior year
Overview
About
- CEO
- Corey Curyto, Sr.
- Headquarters
- FL
- Founded
- 2018
- FDD year
- 2023
- States available
- 4
Can you afford it, and what does the money buy?
Entry cost runs 92% below the typical full-service restaurants franchise.
Source: FDD 2023 · Items 5–7
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $12K | $18K |
| Equipment, build-out, other | $29K | $47K |
| Total initial investment | $76K | $100K |
Source: Carousel’s 2023 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $76K – $100K
- Top 40% of category vs category
- Liquid capital req'd
- $12K – $18K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Top 40% of category vs category
- Royalty
- 7.0%
- percentage · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $500 |
| Transfer fee | $18K |
| Renewal fee | $3K |
| Inventory (initial) | $10K – $15K |
| Total fee load | 9.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Carousel’s did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Carousel’s unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
66%
Above the 30–60% band. Verify revenue is per-unit average
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: 2023 FDD
Financial Performance
Total revenue of $510,775 for fiscal year ended December 31, 2022, disclosed in Item 8; $92,487 (18%) derived from sales of products/services directly to franchisees. Item 21 balance sheets (audited, FYE 12/31/2020-2022) are in Exhibit D but were image-based and not present in the extracted text, so balance-sheet figures are unavailable.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 9.0% — above the Full-Service Restaurants average of 7.6%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
Net unit growth of +800.0% over 3 years (3 opened, 0 closed).
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 Full-Service Restaurants averages
How Carousel’s Compares
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 9
- Opened
- 3
- 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
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 3
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 12
- Franchisor's next-year forecast
- Ceased ops
- 22.2%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 4 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.
4
states with franchisees (per FDD Item 12)
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.
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
Early-stage carousel/amusement concept with only 9 units, undisclosed financials, and fixed minimum royalties creates elevated risk despite protected territory and no litigation.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · R. Evans & Assoc., Inc.
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 43 / 100 verdict
- 01MEDNo average revenue or net income disclosed in FDD Item 19 — impossible to assess ROI or break-even timeline
- 02MINOROnly 9 units operating with 50% YoY growth suggests very early-stage system with minimal track record and unproven model scalability
- 03MINORMinimum weekly royalty of $125 ($6,500/year) creates fixed cost burden regardless of sales performance, problematic for struggling locations
- 04MEDInitial investment range of $75,750–$99,750 appears high relative to unit count and lack of disclosed profitability data
- 05MINOR10-year term is relatively long commitment given system immaturity and absence of performance benchmarks
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · 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 | 100,000 |
| Online sales rightsℹ | Granted |
| 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 | 10 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Sarasota County, Florida |
| Jury trial waiver | Yes |
| Governing law | FL |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 28 hrs
- On-the-job training
- 48 hrs
- Training location
- Sarasota, Florida
- Ongoing training
- Required
- Time to open
- 4 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- NCR Silver
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: NCR Silver
Item 20 · call current owners
Franchisee Contacts
5 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Carousel’s · FDD (2023) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Carousel’s franchise?
The total investment to open a Carousel’s franchise ranges from $76K – $100K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Carousel’s franchise owners earn?
Carousel’s does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Carousel’s 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 Carousel’s FDD and qualifies whose outlets they describe.
What is Carousel’s's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Carousel’s (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 Carousel’s franchise locations are there?
As of their most recent FDD filing, Carousel’s has 9 total units in the United States, including 9 franchised units and 0 company-owned units. 3 new units were opened in the latest reporting year.
Is Carousel’s a good franchise to buy?
FranchiseVerdict rates Carousel’s as a C-grade franchise with a verdict score of 43 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?
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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.