CraveFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A CRAVE franchise requires a total initial investment of $238K – $1.1M, including a $45K franchise fee and an ongoing 8.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: C. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $238K – $1.1M
- 13th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 8.0%
- 44th pct Service Resta…
- Units
- 22
- 28th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
The system contracted 8% year-over-year. Investigate why units are closing.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $238K – $1.1M including a $45K franchise fee, 8.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict C (Average) with a risk score of 65/100.
- Auditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- CRAVE Franchising, LLC
- Parent company
- Rincione Investments LLC
- Predecessor
- or affiliate
- Prior franchisor entity
- CEO title
- Chief Executive Officer (CEO) and Chief Operations Officer (COO)
- Samantha Rincione
- CEO experience
- 2018 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- WY
- HQ
- 159 N. Wolcott St. Suite 133 Casper, WY 82601
- Auditor
- DA Advisory Group PLLC
- Audited financials
- Franchisor revenue
- $1.4M
- vs $866K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
CRAVE franchisees operate casual dining or food-service establishments (likely fast-casual or quick-service based on typical franchise model) focused on a specific cuisine or concept. Daily operations include food preparation, staffing, inventory management, customer service, facility maintenance, and brand compliance reporting to the franchisor.
- CEO
- Samantha Rincione
- Headquarters
- WY
- Founded
- 2018
- FDD year
- 2025
- States available
- 10
FDD Item 7 · 2025 filing · 40 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee (Restaurant)not refundable | $45K | $45K | |
| Rent - 1 Month (Restaurant)not refundable | $5K | $15K | |
| Lease & Utility Security Deposit (Restaurant) | $4K | $15K | |
| Design & Architect Fees (Restaurant)not refundable | $1K | $35K | |
| Leasehold Improvements (Restaurant)not refundable | $100K | $700K | |
| Signage (Restaurant)not refundable | $3K | $30K | |
| Equipment, Furniture and Fixtures (Restaurant)not refundable | $70K | $160K | |
| Point-of-Sale & Computer Equipment (Restaurant)not refundable | $2K | $6K | |
| Business Licenses & Permits (Restaurant)not refundable | $500 | $4K | |
| Professional Fees (Restaurant)not refundable | $1K | $4K | |
| Insurance - 1 Month (Restaurant)not refundable | $1K | $3K | |
| Initial Inventory - Food & Other Items (Restaurant)not refundable | $8K | $15K | |
| Initial Inventory - Alcohol (Restaurant)not refundable | $100 | $1K | |
| Training Expenses (Restaurant)not refundable | $500 | $2K | |
| Grand Opening Marketing (Restaurant)not refundable | $5K | $5K | |
| Additional Funds - 3 Months (Restaurant)not refundable | $15K | $30K | |
| Initial Franchise Fee (Food Truck)not refundable | $30K | $30K | |
| Truck with Equipment (Food Truck)not refundable | $225K | $285K | |
| Signage (Food Truck)not refundable | $0 | $250 | |
| Point-of-Sale & Computer Equipment (Food Truck)not refundable | $1K | $3K | |
| Total initial investment | $764K | $2.0M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $238K – $1.1M
- Better than avg vs category
- Liquid capital req'd
- $15K – $30K
- Better than avg vs category
- Franchise fee
- $35K – $45K
- Better than avg vs category
- Royalty
- 8.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Total fee load | 10.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Crave Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 22
- Opened
- 7
- Last reporting year
- Closed
- 9
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 40.9%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 1.0%
- Net growth (yr3)
- -8.3%
- Net unit change last year
- 3-yr CAGR
- +29.4%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 3
- Transfers (3yr)
- 4
- Projected new
- 41
- Franchisor's next-year forecast
- Transfer rate
- 18.2%
- Owners selling to other franchisees
- Termination rate
- 4.5%
- Franchisor-initiated terminations
- Ceased ops
- 36.4%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 30 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.
Available to sell in · Item 12
- Illinois
- Indiana
- Maryland
- Michigan
- New York
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 71
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
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
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
CRAVE presents high risk due to declining unit count, pending litigation over fraudulent misrepresentation, unverified financial claims, and lack of territorial protection—avoid until litigation is resolved and Item 19 financials are disclosed.
Litigation (Item 3)
Three pending cases involving Crave Franchising, LLC as defendant: (1) BDD Group, LLC v. Crave Franchising, LLC et al. (E.D. Michigan, filed 01/05/2024) - claims fraudulent misrepresentation, silent fraud, innocent misrepresentation, violations of Michigan Franchise Investor Law and FTC Franchise Rule, seeking damages exceeding $75,000, punitive damages, attorney fees, recission, lease and loan assumption; motion to compel arbitration granted for Salvatore Rincione, case stayed, inactive for 7 months. (2) Rockin'L Enterprises, LLC et al. v. Crave Franchising, LLC et al. (Louisiana, 10th Judicial District, filed 03/22/2023) - claims fraud and unfair trade practices, seeks to vitiate franchise and securities agreements, challenges arbitration provisions, no court activity for 5+ months. (3) Maritza Wulf et al. v. Crave Franchising, LLC and Salvatore Rincione (Louisiana, 24th Judicial District, filed 11/28/2023) - contribution/indemnification claim tied to foregoing proceeding, motions to dismiss/stay pending arbitration pending, no activity for 5+ months.
Largest disclosed settlement: $75,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · DA Advisory Group PLLC⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
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: No
Score breakdown · what drove the 65 / 100 rating
- 01MEDUnit count declined 8.3% YoY (22 units) indicating system contraction and potential franchisee dissatisfaction
- 02HIGHActive litigation involving fraudulent misrepresentation and franchise law violations creates legal and reputational risk
- 03MINORNo revenue or profitability disclosure (Item 19 absent) prevents validation of $237.5K-$1.1M investment ROI claims
- 04MED8% royalty rate on undisclosed average sales makes true net income calculation impossible
- 05MINORZero territory protection enables franchisor to saturate markets and cannibalize existing franchisee performance
- 06HIGHGoing concern status suggests financial instability at corporate level
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Territory radius | 5 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 |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 2 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Wilmington, Delaware |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 3 |
View Item 3 litigation summary
Three pending cases involving Crave Franchising, LLC as defendant: (1) BDD Group, LLC v. Crave Franchising, LLC et al. (E.D. Michigan, filed 01/05/2024) - claims fraudulent misrepresentation, silent fraud, innocent misrepresentation, violations of Michigan Franchise Investor Law and FTC Franchise Rule, seeking damages exceeding $75,000, punitive damages, attorney fees, recission, lease and loan assumption; motion to compel arbitration granted for Salvatore Rincione, case stayed, inactive for 7 months. (2) Rockin'L Enterprises, LLC et al. v. Crave Franchising, LLC et al. (Louisiana, 10th Judicial District, filed 03/22/2023) - claims fraud and unfair trade practices, seeks to vitiate franchise and securities agreements, challenges arbitration provisions, no court activity for 5+ months. (3) Maritza Wulf et al. v. Crave Franchising, LLC and Salvatore Rincione (Louisiana, 24th Judicial District, filed 11/28/2023) - contribution/indemnification claim tied to foregoing proceeding, motions to dismiss/stay pending arbitration pending, no activity for 5+ months.
Items 10, 11
Training & Operations
- Classroom training
- 15 hrs
- On-the-job training
- 37 hrs
- Training location
- our headquarters
- Ongoing training
- Required
- Franchisor financing
- Offered
- Item 10
- POS system
- Clover Network, Inc.
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Clover Network, Inc.
Item 20 · call current owners
Franchisee Contacts
64 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
CRAVE · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a CRAVE franchise?
The total investment to open a CRAVE franchise ranges from $238K – $1.1M, 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 CRAVE franchise owners earn?
CRAVE 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 CRAVE's franchise failure rate?
SBA 7(a) loan charge-off data is not available for CRAVE (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 CRAVE franchise locations are there?
As of their most recent FDD filing, CRAVE has 22 total units in the United States, including 17 franchised units and 0 company-owned units. 7 new units were opened in the latest reporting year.
Is CRAVE a good franchise to buy?
FranchiseVerdict rates CRAVE as a C-grade franchise with a risk score of 65 out of 100, 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.
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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.