Crispy Cones
Bottom line
- Total investment $374K – $582K including a $35K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated STRONG with a risk score of 44/100. SBA loan default rate of 0.0% across 44 loans (below the industry average).
- Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
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 Crispy Cones unit return on the cash you put in?
Unlevered ROIC · per unit
17%
Below typical band (30–60%)
Overview
About
Crispy Cones franchisees operate dessert-focused quick-service restaurants specializing in crispy/waffle cone products, likely ice cream, gelato, or crepe-based offerings. Daily operations include food preparation, point-of-sale management, inventory control, staffing, and direct customer service in a retail location.
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
Hypergrowth franchise with minimal operational track record and zero financial performance transparency creates elevated risk despite protected territory and no litigation.
Score breakdown · what drove the 44 / 100 rating
- 01MEDNo average revenue or net income disclosed in FDD Item 19 — unable to validate ROI claims
- 02MINORExtreme unit growth of 260% YoY suggests either aggressive expansion, acquisition of existing operators, or unsustainable recruitment — sustainability unclear
- 03MINORSmall base of only 21 units creates statistical volatility and limits franchisee reference pool
- 04MEDHigh initial investment ($373,650–$581,900) paired with undisclosed profitability creates significant financial risk
- 05MINOR5% royalty on gross sales (not net) means franchisees pay royalties even in loss periods
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
18 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Crispy Cones · FDD (2026) PDF