Crispy ConesFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Crispy Cones franchise requires a total initial investment of $374K – $582K, including a $35K franchise fee and an ongoing 5.0% royalty[2]. The 2026 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 0.0% charge-off rate across 14 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2026 FDD issuance
Overview
- Investment
- $374K – $582K
- 69th pct Service Resta…
- Avg gross sales
- N/A
- 59th pct Service Resta…
- Royalty
- 5.0%
- 13th pct Service Resta…
- Units
- 21
- 47th pct Service Resta…
- SBA default
- 0.0%
- system-wide median varies by category
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = >15% above Quick-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
Only 0.0% of 14 SBA loans charged off, well below the 16% franchise average.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $374K – $582K including a $35K franchise fee, 5.0% ongoing royalty.
- Item 19 discloses "gross_sales" rather than annual gross sales, so unit revenue is not directly comparable.
- Verdict A (Top Quintile) with a risk score of 16/100. SBA loan charge-off rate of 0.0% across 14 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- 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
- Crispy Cones Franchising, LLC
- Parent company
- Crispy Cones Holdings, LLC
- Incorporated in
- ID
- HQ
- 3878 Jake Way, Suite 101, Rexburg, ID 83440
- Auditor
- Cooper Norman
- Audited financials
- Franchisor revenue
- $2.0M
- vs $2.4M prior year
- ⚠ Going-concern note
- Disclosed in FDD 2026
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
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.
- CEO
- Jeremy Carlson
- Headquarters
- ID
- Founded
- 2021
- FDD year
- 2026
- States available
- 13
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $3K | $15K |
| Equipment, build-out, other | $336K | $532K |
| Total initial investment | $374K | $582K |
Source: Crispy Cones 2026 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
- $374K – $582K
- Below avg, review vs category
- Liquid capital req'd
- $3K – $15K
- Better than avg vs category
- Franchise fee
- $35K – $35K
- Near category avg vs category
- Royalty
- 5.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $1 |
| Transfer fee | $4K |
| Renewal fee | $4K |
| Total fee load | 8.0% of rev |
Financial Performance
This brand's FDD disclosed "gross_sales" in Item 19 rather than annual gross sales. This metric cannot be directly compared across brands, so we omit it from rankings.
vs Quick-Service Restaurants averages
How Crispy Cones Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 21
- Opened
- 14
- Last reporting year
- Closed
- 1
- Turnover rate
- 4.8%
- Company-owned
- 3
- Corporate units in the system
- % franchised
- 86%
- vs corporate-owned
- Net growth (yr3)
- Outlier (see FDD)
- Likely small-sample artifact
3-year detail · Item 20
- Transfers (3yr)
- 2
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 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.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 14
- Loan volume
- $3.7M
- Median loan
- $350K
- 50th percentile
- Charge-off rate
- 0.0%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 6
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Crispy Cones's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 6 lenders with concentration factor
- Per-state charge-off rates across 7 states
- Startup risk premium and job creation velocity
- 3-year lending trend
Instant access. No subscription.
With a 0.0% charge-off rate across 14 loans, banks have historically viewed this brand favorably for lending.
Risk analysis
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.
Audited financials (Item 21)
Yes · Cooper Norman⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 16 / 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
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius/Area based on geography |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Idaho |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 34 hrs
- On-the-job training
- 33 hrs
- POS system
- designated point of sale (“POS”) system
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: designated point of sale (“POS”) system
Item 20 · call current owners
Franchisee Contacts
18 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Crispy Cones · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Crispy Cones franchise?
The total investment to open a Crispy Cones franchise ranges from $374K – $582K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Crispy Cones franchise owners earn?
Crispy Cones 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 Crispy Cones's franchise failure rate?
Based on SBA 7(a) loan data, Crispy Cones has a charge-off rate of 0.0% across 14 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Crispy Cones franchise locations are there?
As of their most recent FDD filing, Crispy Cones has 21 total units in the United States, including 2 franchised units and 3 company-owned units. 14 new units were opened in the latest reporting year.
Is Crispy Cones a good franchise to buy?
FranchiseVerdict rates Crispy Cones as a A-grade franchise with a risk score of 16 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.
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.