Bottom line
- Total investment $396K – $892K including a $20K franchise fee, 6.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 65/100. SBA loan default rate of 0.0% across 2 loans (below the industry average).
- 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
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 Crab N Spice unit return on the cash you put in?
Unlevered ROIC · per unit
17%
Below typical band (30–60%)
Overview
About
Franchisees operate fast-casual or full-service crab and seafood restaurants featuring spiced preparation methods. Day-to-day operations include food sourcing, kitchen management, front-of-house service, staff training, and menu execution across a protected territory. Revenue depends heavily on local market demand for premium seafood and ability to maintain consistent flavor/quality standards.
Item 7 · what it costs
The Vitals
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
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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 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.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Early-stage seafood franchise with critical financial opacity, questionable franchisor stability, and insufficient unit maturity to validate franchise model economics.
Score breakdown · what drove the 65 / 100 rating
- 01MINORNo Item 19 financial disclosure (average revenue and net income not provided) — impossible to validate ROI claims or profitability benchmarks
- 02HIGHGoing Concern status is False, indicating potential financial instability or structural uncertainty within the franchisor
- 03MINORExtremely wide investment range ($396K–$892K, 125% spread) suggests inconsistent build-out costs, poor cost controls, or variable location requirements
- 04MINOROnly 9 total units with 75% YoY growth is modest absolute scale; high growth rate may indicate instability rather than traction in early/fragile stage
- 05MED6% royalty on undisclosed sales makes it difficult to model break-even; true ROI cannot be calculated without Item 19
- 06HIGHNo litigation disclosed is neutral, but absence of financial data prevents assessment of franchisor viability
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
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
14 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Crab N Spice · FDD (2025) PDF