FranchiseVerdict
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City2Shore Real Estate

Formerly known as C2 Education

Real EstateFranchising since 2016Website
Investment
$61K – $162K
55th pct Real Estate
Avg revenue
32nd pct Real Estate
Royalty
6.0%
27th pct Real Estate
Units
11
15th pct Real Estate
SBA default

Bottom line

  • Total investment $61K – $162K including a $35K franchise fee, 6.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated CAUTION with a risk score of 70/100.
  • No 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

Legal entity
City2Shore National Franchises, LLC
Incorporated in
Michigan
HQ
6501 Balsam Drive, Hudsonville, Michigan 49426
Auditor
Kezos & Dunlavy
Audited financials
Franchisor revenue
$567K
vs $488K 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 City2Shore Real Estate unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: generic
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $61K–$162K
Working capital
$
FDD reports $5K–$25K

Unlevered ROIC · per unit

83%

Above typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$105K
EBITDA margin
14.0%
Total invested
$127K
Payback
14 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.

Overview

About

City2Shore franchisees operate as independent real estate agents or brokerages, generating revenue through residential/commercial property sales commissions. Franchisees leverage the brand, training, technology, and protected territory to source clients and close deals, paying the franchisor 6% of gross commissions earned. Day-to-day work involves prospecting, client management, showings, negotiations, and compliance with franchisor systems.

CEO
Shelley Frody
Founded
2015
FDD year
2025
States available
1

Item 7 · what it costs

The Vitals

Total investment
$61K – $162K
All-in to open one unit
Liquid capital
$5K – $25K
Cash you must have on hand
Franchise fee
$35K
Royalty
6.0%
Percentage of Gross Commissions · typical 6–8%
Ad fund
$100 per month
Total fee load
6.0%
vs 9–13% typical

Item 19

Financial Performance

This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.

Item 20 · unit dynamics

The Growth Chart

Total units
11
Opened
0
Last reporting year
Closed
1
Turnover rate
9.1%
Company-owned
4
Corporate units in the system
% franchised
64%
vs corporate-owned
Net growth (yr3)
-12.5%
Net unit change last year
3-yr CAGR
+0.0%
Compounded over last 3 years
2023
7±0
Franchised units
2024
8
Franchised units
2025
7
Franchised units

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

Item 20 · 17 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 · 17 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.

No SBA loan data available for this brand.

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

Risk & Legal

70
Risk · 0-100
CAUTION70 / 100

Declining franchisee base, missing financial disclosures, and franchisor going-concern issues present HIGH RISK profile unsuitable for most investors.

Score breakdown · what drove the 70 / 100 rating

  1. 01MEDSystem contracting sharply: -12.5% YoY unit decline (11 units) suggests franchisees are failing or leaving
  2. 02MINORNo Item 19 financial disclosure: Franchisor refuses to disclose average unit volumes or profitability — major transparency red flag
  3. 03HIGHGoing concern status is FALSE: Franchisor itself may have financial viability issues
  4. 04MINORHigh initial investment ($61,450–$161,550) relative to unit count and declining trajectory creates breakeven risk
  5. 05MED6% royalty on gross commissions is punitive if real estate commission splits are tight; no net revenue guarantee

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
Geographic area
Protected territory
Yes
Initial term
5 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
1 yrs
Post-termination restriction
Owner-operator
Required

Item 11

Training & Operations

Classroom training
37 hrs
On-the-job training
8 hrs
POS system
C2SSuccess
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

25 numbers

Locked
(217) 782-••••
IL
(808) 586-••••
HI
(804) 371-••••
VA

One-time purchase · CSV download · Validation questions included

FDD download

City2Shore Real Estate · FDD (2025) PDF

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