Carvel Franchise Cost, Revenue & Review 2026
- Investment
- $428K – $1.1M
- Disclosed sales
- $496K
- gross sales, not profit
- SBA charge-off
- Under 10 loans (4)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Carvel is an ice-cream franchise known for its soft-serve, hand-dipped scoops, and signature ice-cream cakes. Franchisees run shops managing made-to-order treats, cake decorating, and counter service.
FranchiseVerdict summary · 2026
A Carvel franchise requires a total initial investment of $428K – $1.1M, including a $6K – $31K franchise fee and an ongoing 6.0% royalty[2]. Per the 2026 FDD, average unit revenue was $496K[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $428K – $1.1M
- 68th pct Service Resta…
- Avg gross sales
- $496K
- Net sales4th pct Service Resta…
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 360
- 87th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · 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 $428K – $1.1M including a $6K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $496K/year (median $470K).
- RISKVerdict B (Above average), verdict score 59/100 (higher is better).
- GROWTHPositive: net +23 franchised outlets in the latest year (35 opened, 12 closed); 132 signed but not yet open (Item 20).
- TERMSNo protected territory and the franchisor reserves the right to compete in your area. Clarify territorial boundaries before signing.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Carvel Franchisor SPV LLC
- Parent company
- GoTo Foods Systems LLC
- FDD Item 1, page 10 of the 2026 FDD
- Ultimate parent
- GoTo Foods LLC (formerly Focus Brands LLC)
- FDD Item 1, page 10 of the 2026 FDD
- Predecessor
- Carvel LLC (formerly Carvel Corporation)
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Omer Gajial
- Incorporated in
- Delaware
- HQ
- 5620 Glenridge Drive NE, Atlanta, Georgia 30342
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $321.4M
- vs $308.9M prior year
Same owner · FDD Item 1, page 10
6 other brands on this site name GoTo Foods LLC (formerly Focus Brands LLC) as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2026 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Omer Gajial
- Headquarters
- Georgia
- Founded
- 1934
- FDD year
- 2026
- States available
- 23
Can you afford it, and what does the money buy?
Entry cost runs 52% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $6K | $6K |
| Working capital (3–6 mo) | $33K | $50K |
| Equipment, build-out, other | $390K | $996K |
| Total initial investment | $428K | $1.1M |
Source: Carvel 2026 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
- $428K – $1.1M
- Bottom third — review vs category
- Liquid capital req'd
- $33K – $50K
- Bottom third — review vs category
- Franchise fee
- $6K – $31K
- Top 40% of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of net sales |
| Marketing / ad fund | 3.0% of net sales |
| Training fee | $3K |
| Transfer fee | $18K |
| Renewal fee | $7K |
| Inventory (initial) | $5K – $17K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales run 49% below the quick-service restaurants norm.
Reported as net sales, not gross sales
Source: FDD 2026 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Carvel until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$781K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
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, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Carvel unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
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%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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: 2026 FDD
Financial Performance
Reported as net sales, not gross sales
- Avg gross sales
- $496K
- Per unit, per year
- Median gross sales
- $470K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical Net Sales quartile table (single-branded Streetside franchises)
- Sample size
- 104 outlets
- vs category median 19 · large
- Range (low → high)
- $84K→$1.5MCited, not corroborated — printed on page 92 of the 2026 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Quartile band
- $249K→$780K
- Bottom 25% → top 25%
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 781 Quick-Service Restaurants brands
Revenue is only 0.7x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
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 $496K/year in gross sales. Revenue-to-investment ratio: 0.7x.
Fee burden
Total ongoing fee load of 9.0% — above the Quick-Service Restaurants median of 7.5%.
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 expanding at 10.1% CAGR over 3 years across 360 units — operators are staying and new ones are joining.
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 Quick-Service Restaurants medians
How Carvel Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 360
- Opened
- 35
- Last reporting year
- Closed
- 12
- Terminated
- 8
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 4
- Term expired, not renewed (per Item 20)
- Turnover rate
- 3.3%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +10.1%
- Net unit change over 3 years
- 3-yr CAGR
- +10.1%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 8
- Not renewed
- 4
- Transferred
- 10
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 132
- 0.37 per open outlet · Item 20 Table 5
- Projected new
- 25
- Franchisor's next-year forecast
- Transfer rate
- 5.4%
- Owners selling to other franchisees
- Termination rate
- 1.5%
- Franchisor-initiated terminations
- Ceased ops
- 1.5%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 11 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.
Where the owners are · Item 20 owner list
394 current owners across 20 states.
- NE 274
- FL 36
- CO 23
- MI 11
- MA 9
- PE 8
- TE 7
- CA 6
- IL 5
- DE 2
- GE 2
- OH 2
- +8 more states
Counts only, from the list the franchisor prints in Item 20; 7 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 4 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 4
- Loan volume
- $679K
- Median loan
- $59K
- 50th percentile
- Charge-off rate
- Under 10 loans (4)
- Insufficient SBA coverage: 4 loans, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (4)
- 5-yr charge-off
- Under 10 loans (4)
- Loans approved 2021+
- Active lenders
- 4
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Carvel presents caution-level risk due to declining unit economics, absence of financial validation data, unprotected territory, and parent company litigation suggesting systemic operational issues.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Two pending cases involving Carvel entities directly: Carvel Franchisor SPV, LLC v. Oluf Inc. and Stephen Oluf Winick (N.D. Ga., filed 2025) - Carvel sued a former franchisee for unauthorized post-termination operation and trademark infringement; and Oluf Inc. v. Carvel Corporation (Cal. Superior Court, filed 2025) - franchisee petition to compel arbitration over alleged misrepresentation and breach of contract claims. Additional disclosures relate to settled actions against sister GoTo Foods affiliates (Arby's, Dunkin' Brands, Jimmy John's), none alleging conduct by Carvel itself.
Largest disclosed settlement: $650,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
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 59 / 100 verdict
- 01MINORDeclining unit count (3.1% YoY contraction indicates system shrinkage)
- 02MINORUnprotected territory creates direct competition risk from other Carvel franchisees
- 03MINORParent company litigation history (no-poaching + data breach) suggests operational/compliance vulnerabilities affecting franchise ecosystem
- 04MINOR20-year commitment is lengthy given brand's contracting footprint and uncertain profitability
Severity inferred from the FDD text · not a regulatory classification
Litigation case detail6 matters · Item 3
Litigation cases
The franchisor
Pending (1)
Carvel Franchisor SPV, LLC v. Oluf Inc. and Stephen Oluf Winick
pendingBrought against a franchisee · filed 2025-04-03 · United States District Court for the Northern District of Georgia · 1:25-cv-01776-ELR
“Carvel Franchisor SPV, LLC v. Oluf Inc. and Stephen Oluf Winick (United States District Court for the Northern District of Georgia, Case No. 1:25-cv-01776-ELR, filed April 3, 2025). On April 3, 2025, we filed a lawsuit against our former franchisee Oluf Incorporated (“Oluf”) and its owner, Stephen Oluf Winick (“Winick”) after they continued to operate a Shoppe without authorization after we”Page 27 of the 2026 FDD, Item 3
Parent, affiliates and predecessor
Pending (1)
Oluf Inc. v. Carvel Corporation
pendingBrought by a franchisee · Carvel Corporation (now Carvel LLC, 'our predecessor' per Item 1) · filed 2025-04-01 · Superior Court of California, Los Angeles County · 25STCP01211
“Oluf Inc. v. Carvel Corporation (Superior Court of California, Los Angeles County, Case No. 25STCP01211, filed April 1, 2025). Our former franchisee, Oluf, filed a “Petition for Order Compelling Arbitration and Appointing Neutral Arbitrator” against Carvel Corporation. The petition seeks to compel arbitration in Los Angeles concerning disputes under the franchise agreement, including alleged”Page 27 of the 2026 FDD, Item 3
Concluded (4)
New York v. Dunkin’ Brands, Inc.
concludedGovernment or regulatory action · Dunkin’ Brands, Inc. (DBI) · filed 2019-09-26 · N.Y. Supreme Court for New York County · 451787/2019
“New York v. Dunkin’ Brands, Inc. (N.Y. Supreme Court for New York County, Case No. 451787/2019, filed September 26, 2019). In this matter, the N.Y. Attorney General (“NYAG”) filed a lawsuit against our affiliate, DBI, related to credential-stuffing cyberattacks during 2015 and 2018. The NYAG alleged that the cyber attackers used individuals’ credentials obtained from elsewhere on the Internet to”Page 28 of the 2026 FDD, Item 3
Outcome:“On September 21, 2020, without admitting or denying the NYAG’s allegations, DBI and the NYAG entered into a consent agreement to resolve the State’s complaint. Under consent order, DBI agreed to pay $650,000 in penalties and costs, issue certain notices and other types of communications to New York customers, and maintain a comprehensive information security”
The People of the State of California v. Arby’s Restaurant Group, Inc.
settledGovernment or regulatory action · Arby’s Restaurant Group, Inc. (ARG) · filed 2019-03-19 · California Superior Court, Los Angeles County · 19STCV09397
“The People of the State of California v. Arby’s Restaurant Group, Inc. (California Superior Court, Los Angeles County, Case No. 19STCV09397, filed March 19, 2019). On March 11, 2019, our affiliate, Arby’s Restaurant Group, Inc. (“ARG”), entered into a settlement agreement with the states of California, Illinois, Iowa, Maryland, Massachusetts, Minnesota, New Jersey, New York, North Carolina,”Page 27 of the 2026 FDD, Item 3
Outcome:“Under the settlement agreement, ARG paid no money but agreed (a) to remove the disputed provision from its franchise agreements (which it had already done);”
The People of the State of California v. Dunkin’ Brands, Inc.
settledGovernment or regulatory action · Dunkin’ Brands, Inc. (DBI) · filed 2019-03-19 · California Superior Court, Los Angeles County · 19STCV09597
“The People of the State of California v. Dunkin’ Brands, Inc., (California Superior Court, Los Angeles County, Case No. 19STCV09597, filed on March 19, 2019.) On March 14, 2019, our affiliate, Dunkin Brands, Inc. (“DBI”), entered into a settlement agreement with the Attorneys General of 13 states and jurisdictions concerning the inclusion of “no-poaching” provisions in”Page 28 of the 2026 FDD, Item 3
Outcome:“The Attorney General of the State of California filed the above-reference lawsuit in order to place the settlement agreement in the public record, and the action was closed after the court approved the parties’ stipulation of judgment.”
In the Matter of Jimmy John’s Franchisor SPV LLC
concludedGovernment or regulatory action · Jimmy John’s Franchisor SPV LLC · Securities Commissioner of Maryland · 2025-0122
“In the Matter of Jimmy John’s Franchisor SPV LLC (Securities Commissioner of Maryland, Case No. 2025-0122). On March 28, 2022, Jimmy John’s filed a Franchise Disclosure Document (FDD) with the Maryland Securities Division as part of a notice of exemption from franchise registration. In this filing, Jimmy John’s listed the former franchisees but omitted the required contact information for the”Page 28 of the 2026 FDD, Item 3
Outcome:“Under the terms of the Consent Order, Jimmy John’s agreed to pay a $30,000 civil monetary penalty, to permanently cease and desist from the offer or sale of franchises in violation of the Maryland Franchise Law, and to disclose the existence of the Consent Order in future franchise disclosure documents.” (page 29)
Item 3 lists the litigation the franchisor must disclose; a matter against a parent, an affiliate or a named officer is not a matter against the franchisor, and pending claims are allegations, not findings.
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 20 years |
| Allowed renewalsℹ | 1 |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 3 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 23 |
| Curable defaultsℹ | 10 |
| Mandatory arbitration | Yes |
| Arbitration location | Georgia (metropolitan area of franchisor's principal place of business) |
| Jury trial waiver | No |
| Governing law | Georgia |
| Litigation count | 6 |
View Item 3 litigation summary
Two pending cases involving Carvel entities directly: Carvel Franchisor SPV, LLC v. Oluf Inc. and Stephen Oluf Winick (N.D. Ga., filed 2025) - Carvel sued a former franchisee for unauthorized post-termination operation and trademark infringement; and Oluf Inc. v. Carvel Corporation (Cal. Superior Court, filed 2025) - franchisee petition to compel arbitration over alleged misrepresentation and breach of contract claims. Additional disclosures relate to settled actions against sister GoTo Foods affiliates (Arby's, Dunkin' Brands, Jimmy John's), none alleging conduct by Carvel itself.
Items 10, 11
Training & Operations
- Classroom training
- 25 hrs
- On-the-job training
- 70 hrs
- Training location
- Online modules (classroom) and Certified Training Locations (on-the-job); corporate HQ in Atlanta, GA
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisor
- Franchisor financing
- Not offered
- Item 10
- POS system
- Designated POS System (vendor not named)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Designated POS System (vendor not named)
Item 20 · call current owners
Franchisee Contacts
401 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Carvel franchise?
The total investment to open a Carvel franchise ranges from $428K – $1.1M, with an initial franchise fee of $6K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Carvel franchise owners earn?
According to Item 19 of the Carvel FDD, the average gross sales per unit is $496K. The median is $470K. Important context: Reported as net sales, not gross sales. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Carvel?
Carvel is franchised by Carvel Franchisor SPV LLC. Its parent company is GoTo Foods Systems LLC. The ultimate parent named in the FDD is GoTo Foods LLC (formerly Focus Brands LLC). Source: FDD Item 1, 2026 filing.
What is Item 19 in the Carvel 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 Carvel FDD and qualifies whose outlets they describe.
What is Carvel's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Carvel (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 Carvel franchise locations are there?
As of their most recent FDD filing, Carvel has 360 total units in the United States, including 359 franchised units and 1 company-owned units. 35 new units were opened in the latest reporting year.
Is Carvel a good franchise to buy?
FranchiseVerdict rates Carvel as a B-grade franchise with a verdict score of 59 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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.