Cowboy Jack’s Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Cowboy Jack's is a casual-dining franchise serving American fare and drinks in a Western-themed bar-and-grill setting. Franchisees run the restaurants, managing the kitchen, bar, and dining service.
FranchiseVerdict summary · 2026
A Cowboy Jack’s franchise requires a total initial investment of $1.5M – $6.1M, including a $45K franchise fee and an ongoing 5.0% royalty[2]. The 2025 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 2025 FDD issuance
Overview
- Investment
- $1.5M – $6.1M
- 37th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 7th pct Service Resta…
- Units
- 10
- 14th 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 $1.5M – $6.1M including a $45K franchise fee, 5.0% ongoing royalty.
- RETURNSBalance-sheet-only audit; franchisor (AMG Franchises LLC) organized January 27, 2025, audited as of April 7, 2025. No income statement disclosed, so no revenue or net income figures available.
- RISKVerdict C (Average), verdict score 45/100 (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
- AMG Franchises LLC
- Parent company
- Ciao Hospitality Group LLC
- Predecessor
- After Midnight Group, LLC (AMG)
- Prior franchisor entity
- CEO title
- Managing Partner
- Jeff Crivello
- Incorporated in
- MN
- HQ
- 7575 Golden Valley Rd, Ste 340, Golden Valley, MN 55427
- Auditor
- SDK, CPAs
- Audited financials
Independent franchisee associations
- Independent Franchisee Association
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- Jeff Crivello
- Headquarters
- MN
- Founded
- 2025
- FDD year
- 2025
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 225% above the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $45K | $45K |
| Working capital (3–6 mo) | $101K | $202K |
| Equipment, build-out, other | $1.3M | $5.9M |
| Total initial investment | $1.5M | $6.1M |
Source: Cowboy Jack’s 2025 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
- $1.5M – $6.1M
- Top 40% of category vs category
- Liquid capital req'd
- $101K – $202K
- Top 40% of category vs category
- Franchise fee
- $45K – $45K
- Top 40% of category vs category
- Royalty
- 5.0%
- formula · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Inventory (initial) | $70K – $120K |
| Total fee load | 6.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Cowboy Jack’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 Cowboy Jack’s unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
2%
Below 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: 2025 FDD
Financial Performance
Balance-sheet-only audit; franchisor (AMG Franchises LLC) organized January 27, 2025, audited as of April 7, 2025. No income statement disclosed, so no revenue or net income figures available.
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 6.0% — below 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 roughly flat at 0.0%.
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 Cowboy Jack’s Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 10
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 5
- Corporate units in the system
- % franchised
- 50%
- vs corporate-owned
- Net growth (3-yr)
- +0.0%
- Net unit change over 3 years
- 3-yr CAGR
- +0.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 0
- 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 · 3 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.
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
Cowboy Jack's presents substantial caution-level risk due to undisclosed financial performance data, minimal system size, questionable franchisor financial health, and unclear unit economics despite significant capital requirements.
Litigation (Item 3)
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · SDK, CPAs
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- 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 45 / 100 verdict
- 01MEDNo Item 19 (Average Revenue/Net Income) disclosed — impossible to assess unit economics or ROI potential
- 02MEDOnly 10 units system-wide indicates minimal scale, limited support infrastructure, and unproven model
- 03HIGHGoing Concern status is FALSE — suggests potential financial instability or operational concerns at franchisor level
- 04MINORWide investment range ($1.45M–$6.13M) with no revenue disclosure makes unit profitability assessment impossible
- 05MINORMinimum royalty of $2,300/month ($27,600/year) creates high fixed cost burden even for underperforming locations
- 06MINORUnknown unit growth trajectory — no clarity on system expansion, franchisee retention, or franchisee success rates
- 07MINORMinimal franchise fee ($45K) relative to total investment suggests franchisor may rely heavily on royalties for revenue
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 25 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 | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Minnesota |
| Jury trial waiver | Yes |
| Governing law | MN |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 8 hrs
- On-the-job training
- 20 hrs
- Training location
- Cowboy Jack's Restaurant in or near Minneapolis, Minnesota
- Ongoing training
- Required
- Time to open
- 9 mo
- From signing to launch
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- Toast POS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast POS
Item 20 · call current owners
Franchisee Contacts
13 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Cowboy Jack’s · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Cowboy Jack’s franchise?
The total investment to open a Cowboy Jack’s franchise ranges from $1.5M – $6.1M, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Cowboy Jack’s franchise owners earn?
Cowboy Jack’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 Cowboy Jack’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 Cowboy Jack’s FDD and qualifies whose outlets they describe.
What is Cowboy Jack’s's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Cowboy Jack’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 Cowboy Jack’s franchise locations are there?
As of their most recent FDD filing, Cowboy Jack’s has 10 total units in the United States, including 5 franchised units and 5 company-owned units.
Is Cowboy Jack’s a good franchise to buy?
FranchiseVerdict rates Cowboy Jack’s as a C-grade franchise with a verdict score of 45 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
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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.