Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites Franchise Cost, Revenue & Review 2026
- Investment
- $5.4M – $24.0M
- Disclosed sales
- partial, no system average
- SBA charge-off
- Under 10 loans (3)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Cobblestone Hotels is a midscale, limited-service hotel franchise focused on smaller and underserved markets. Franchisees own and operate individual properties, running front desk, housekeeping, and maintenance to brand standards.
FranchiseVerdict summary · 2026
A Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites franchise requires a total initial investment of $5.4M – $24.0M, including a $40K franchise fee. The 2024 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high - issued more than two years ago
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 scored2 of 3 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $5.4M – $24.0M
- 33rd pct Lodging
- Avg gross sales
- N/A
- Outlet subsetProjection
- Royalty
- Set by a formula
- Units
- 119
- 48th pct Lodging
- SBA charge-off
- N/A
Quick verdict · Lodging · color = vs category peers
Green = favorable by >10% vs Lodging 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 $5.4M – $24.0M including a $40K franchise fee.
- RETURNSItem 19 reports operational metrics rather than annual gross sales, so unit revenue is not directly comparable.
- RISKVerdict A (Strongest tier), verdict score 79/100 (higher is better).
- GROWTHPositive: net +6 franchised outlets in the latest year (1 opened, 0 closed); 12 signed but not yet open (Item 20).
- DATAItem 19 reports operational metrics rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Cobblestone Hotels, LLC
- CEO title
- Brand President
- Josie Kilgore
- Incorporated in
- WI
- HQ
- 980 American Drive, Neenah, Wisconsin 54956
- Auditor
- Baker Tilly US, LLP
- Audited financials
- Franchisor revenue
- $8.3M
- vs $7.2M prior year
Affiliated brands
- Slate Hospitality Group
- BriMark Builders
- BriMark Builders LA
- Cobblestone Hotel Development
- Granite Hospitality Group
- Wissota Franchising
- Cobblestone Hotel Group
- Cobblestone Supply Company
- Neenah Hospitality Group
- BriMark Builders Construction
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Josie Kilgore
- Headquarters
- WI
- Founded
- 2012
- FDD year
- 2024
- States available
- 19
Can you afford it, and what does the money buy?
Entry cost runs 65% above the typical lodging franchise.
Source: FDD 2024 · Items 5–7
FDD Item 7 · 2024 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $40K | $40K |
| Working capital (3–6 mo) | $75K | $150K |
| Equipment, build-out, other | $5.3M | $23.8M |
| Total initial investment | $5.4M | $24.0M |
Source: Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites 2024 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
- $5.4M – $24.0M
- Top 40% of category vs category
- Liquid capital req'd
- $75K – $150K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Top 40% of category vs category
- Royalty
- $3.75 per room per day multiplied by the number of guest …
- Ad fund
- $0.75 per room per day multiplied by the number of guest …
- Total fee load
- 3.8%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | Per-room per-day fee: $3.75 x rooms x 30 days/month |
| Training fee | $11K |
| Transfer fee | $5K |
| Inventory (initial) | $20K – $60K |
| Total fee load | 3.8% of rev |
What do units actually make?
Source: FDD 2024 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites 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 annual revenue, royalty rate, ad fund rate, 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.
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: 2024 FDD
Financial Performance
Reported for a subset of outlets rather than the whole system
An occupancy metric, not unit revenue
- Item 19 type
- operational metrics
- Sample size
- 50 outlets
- vs category median 98
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2024
- Disclosed in the 2024 filing, covering 2023
Compared against 175 Lodging brands
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 3.8% — below the Lodging median of 8.5%.
Disclosure
Item 19 reports operational metrics rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
System expanding at 9.2% CAGR over 3 years across 119 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 Lodging medians
How Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites Compares
Category median of published Lodging 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 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 119
- Opened
- 1
- 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
- N/A
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +9.2%
- Net unit change over 3 years
- 3-yr CAGR
- +9.2%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 3
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 12
- 0.10 per open outlet · Item 20 Table 5
- Projected new
- 22
- Franchisor's next-year forecast
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.
Where the owners are · Item 20 owner list
121 current owners across 20 states.
- IA 25
- WI 24
- NE 12
- ND 10
- CO 9
- PA 8
- KS 4
- MN 4
- TX 4
- IL 3
- IN 3
- WY 3
- +8 more states
Counts only, from the list the franchisor prints in Item 20. 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 3 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 3
- Loan volume
- $4.6M
- Median loan
- $1.5M
- average
- Charge-off rate
- Under 10 loans (3)
- Insufficient SBA coverage: 3 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 (3)
- 5-yr charge-off
- Under 10 loans (3)
- Loans approved 2021+
- Active lenders
- 3
- 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
Cobblestone is a small, slowly-growing hotel franchise with opaque financial performance, an unusually broad cost structure, and heavy per-room royalties that expose franchisees to occupancy risk.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Baker Tilly US, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 audited statements (Baker Tilly US, LLP) for Cobblestone Hotels, LLC, FY ended Dec 31, 2023 (most recent). Total revenues $8,250,061 comprise franchise fee revenues $4,054,472, reservation system revenue $2,261,466, loyalty program revenue $982,477, marketing revenue $575,331, convention sponsorship revenue and fees $291,138, and other revenue $85,177. Net income $3,886,072 (operating income $3,885,790 plus interest income $282). Members' equity ending $258,627 (heavy distributions of $6,335,742 to members during the year).
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 79 / 100 verdict
- 01MEDNo Item 19 (average unit volumes) disclosed - cannot assess profitability or ROI
- 02MINORExtremely wide investment range ($5.4M-$24M) suggests high variability and unpredictable costs
- 03MEDSlow unit growth of 5.3% YoY indicates limited brand momentum and market saturation concerns
- 04MINORRoyalty structure of $3.75/room/day is highly dependent on occupancy rates - vulnerable to market downturns
- 05MEDSmall franchise system (119 units) offers limited brand recognition compared to major hotel chains
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 3.8% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 2 years |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 5 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 60 days |
| Curable defaultsℹ | 17 |
| Mandatory arbitration | No |
| Governing law | WI |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 78 hrs
- On-the-job training
- 44 hrs
- Training location
- Corporate headquarters (980 American Drive, Neenah, WI) and on-property
- Ongoing training
- Optional
- Time to open
- 18 mo
- From signing to launch
- Site selection
- Franchisor approval required
- Franchisor financing
- Not offered
- Item 10
- POS system
- Stayntouch (PMS); SynXis (CRS); Shift4 (credit card processing)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Stayntouch (PMS); SynXis (CRS); Shift4 (credit card processing)
Item 20 · call current owners
Franchisee Contacts
121 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 Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites franchise?
The total investment to open a Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites franchise ranges from $5.4M – $24.0M, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites franchise owners earn?
Item 19 of the Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites?
Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites is franchised by Cobblestone Hotels, LLC. Source: FDD Item 1, 2024 filing.
What is Item 19 in the Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites 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 Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites FDD and qualifies whose outlets they describe.
What is Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites (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 Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites franchise locations are there?
As of their most recent FDD filing, Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites has 119 total units in the United States, including 119 franchised units and 0 company-owned units. 1 new units were opened in the latest reporting year.
Is Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites a good franchise to buy?
FranchiseVerdict rates Cobblestone Inn & Suites, Cobblestone Hotel & Suites, Cobblestone Suites as a A-grade franchise with a verdict score of 79 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.