Casago Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Casago is a real-estate franchise providing vacation-rental and short-term property management for owners. Franchisees run a local operation handling guest bookings, cleaning, maintenance, and owner relations for a rental portfolio.
FranchiseVerdict summary · 2026
A Casago franchise requires a total initial investment of $51K – $413K, including a $14K – $112K franchise fee. The 2023 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2023 FDD issuance
Overview
- Investment
- $51K – $413K
- 33rd pct Real Estate
- Avg gross sales
- N/A
- Royalty
- N/A
- Units
- 27
- 23rd pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate 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 $51K – $413K including a $14K franchise fee.
- RETURNSFY2022 audited statements of operations: Franchise fees $94,594, Royalties $622,340, Licensing $192,080, Other $197,797; total revenues $1,106,811 (vs $262,201 in FY2021). Audited by a CPA firm in Newtown, Pennsylvania (firm name not captured in text). Members' equity (deficit) of -$909,038 reflects a going-concern context.
- RISKVerdict B (Above average), verdict score 50/100 (higher is better).
- GROWTHSystem growing at 316.7% CAGR over 3 years with 27 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Casago International LLC
- Parent company
- High Desert Travel, Inc. (affiliate)
- CEO title
- Founder and President
- Steve Schwab
- Incorporated in
- AZ
- HQ
- 15475 North Greenway Hayden Road Suite B2, Scottsdale, Arizona 85260
- Auditor
- Smith and Howard, PC
- Audited financials
- Franchisor revenue
- $1.1M
- vs $262K prior year
Overview
About
- CEO
- Steve Schwab
- Headquarters
- AZ
- Founded
- 2020
- FDD year
- 2023
- States available
- 25
Can you afford it, and what does the money buy?
Entry cost runs 9% above the typical real estate franchise.
Source: FDD 2023 · Items 5–7
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $14K | $14K |
| Working capital (3–6 mo) | $15K | $45K |
| Equipment, build-out, other | $22K | $354K |
| Total initial investment | $51K | $413K |
Source: Casago 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
- $51K – $413K
- Top 40% of category vs category
- Liquid capital req'd
- $15K – $45K
- Middle of category vs category
- Franchise fee
- $14K – $112K
- Top 40% of category vs category
- Royalty
- Greater of 3.5% of Gross Rental Revenue or applicable Min…
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 4.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 0.0% of gross sales |
| Technology fee | $0 |
| Training fee | $2K |
| Transfer fee | $50 |
| Inventory (initial) | $500 – $2K |
| Total fee load | 4.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Casago 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 Casago unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
49%
Within the 30–60% "attractive franchise" band
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
FY2022 audited statements of operations: Franchise fees $94,594, Royalties $622,340, Licensing $192,080, Other $197,797; total revenues $1,106,811 (vs $262,201 in FY2021). Audited by a CPA firm in Newtown, Pennsylvania (firm name not captured in text). Members' equity (deficit) of -$909,038 reflects a going-concern context.
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 4.0% — below the Real Estate average of 9.1%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
System expanding at 316.7% CAGR over 3 years across 27 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 Real Estate averages
How Casago Compares
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 27
- Opened
- 19
- 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
- 6
- Corporate units in the system
- % franchised
- 78%
- vs corporate-owned
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
3-year detail · Item 20
- Opened (3yr)
- 19
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 20 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.
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 loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $1.3M
- Median loan
- $1.3M
- 50th percentile
- Charge-off rate
- N/A
- limited sample (1 loan) — rate not shown below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 1
- 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
Casago presents elevated risk due to active litigation alleging misrepresentation, explosive unvetted growth, non-transparent Unit Economics, and a zero-fee/high-royalty model that may prioritize franchisor revenue over franchisee profitability.
Litigation (Item 3)
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Smith and Howard, PC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 50 / 100 verdict
- 01HIGHTwo active litigation cases including misrepresentation allegations and wrongful termination dispute signal potential franchisor-franchisee relationship problems
- 02MINORExplosive unit growth of 237.8% YoY raises sustainability concerns and suggests possible aggressive recruitment over support
- 03MINORZero franchise fee combined with aggressive royalty structure (up to 3.5%) indicates potential reliance on revenue extraction rather than franchisee success
- 04MEDNo disclosed average revenue or net income data prevents assessment of franchisee profitability and ROI potential
- 05MINORRapid scaling without transparent Unit Economics suggests system maturity and operational readiness questions
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 4.0% 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 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 20 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Scottsdale, Arizona |
| Jury trial waiver | No |
| Governing law | AZ |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 40 hrs
- On-the-job training
- 44 hrs
- Training location
- Puerto Penasco, MX or other designated location; in-market for field training
- Ongoing training
- Required
- Time to open
- 3 mo
- From signing to launch
- Site selection
- Franchisee (home office or approved commercial location within Territory; franchisor must approve commercial sites)
- Franchisor financing
- Not offered
- Item 10
- POS system
- Required Software (property management system)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Required Software (property management system)
Item 20 · call current owners
Franchisee Contacts
37 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Casago · FDD (2023) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Casago franchise?
The total investment to open a Casago franchise ranges from $51K – $413K, with an initial franchise fee of $14K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Casago franchise owners earn?
Casago 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 Casago 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 Casago FDD and qualifies whose outlets they describe.
What is Casago's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Casago (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 Casago franchise locations are there?
As of their most recent FDD filing, Casago has 27 total units in the United States, including 21 franchised units and 6 company-owned units. 19 new units were opened in the latest reporting year.
Is Casago a good franchise to buy?
FranchiseVerdict rates Casago as a B-grade franchise with a verdict score of 50 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.