Curry House CoCo Ichibanya Franchise Cost, Revenue & Review 2026
- Investment
- $908K – $1.4M
- Disclosed sales
- not disclosed
- SBA charge-off
- Under 10 loans (1)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Curry House CoCo Ichibanya is a restaurant franchise serving Japanese curry rice with customizable toppings. Franchisees run the restaurants, managing the kitchen, dining service, and staffing.
FranchiseVerdict summary · 2026
A Curry House CoCo Ichibanya franchise requires a total initial investment of $908K – $1.4M, including a $40K franchise fee and an ongoing 3.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $908K – $1.4M
- 32nd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 3.0%
- 1st pct Service Resta…
- Units
- 7
- 10th 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 median · 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 $908K – $1.4M including a $40K franchise fee, 3.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 58/100 (higher is better).
- GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 closed); 1 signed but not yet open (Item 20).
- DATAThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- ICHIBANYA INTERNATIONAL USA, INC.
- Parent company
- ICHIBANYA CO., LTD.
- FDD Item 1, page 6 of the 2025 FDD
- CEO title
- Chief Executive Officer and Director
- Keiji Ishiguro
- Incorporated in
- CA
- HQ
- 3625 Del Amo Boulevard, Suite 170, Torrance, California 90503
- Auditor
- Hotta Liesenberg Saito LLP
- Audited financials
- Franchisor revenue
- $1.9M
- vs $1.8M prior year
Affiliated brands
- entity ICHIBANYA USA
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Keiji Ishiguro
- Headquarters
- CA
- Founded
- 2020
- FDD year
- 2025
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 71% 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 | $40K | $40K |
| Working capital (3–6 mo) | $9K | $25K |
| Equipment, build-out, other | $859K | $1.3M |
| Total initial investment | $908K | $1.4M |
Source: Curry House CoCo Ichibanya 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
- $908K – $1.4M
- Top 40% of category vs category
- Liquid capital req'd
- $9K – $25K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Top 40% of category vs category
- Royalty
- 3.0%
- typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 4.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 3.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Training fee | $4K |
| Transfer fee | $10K |
| Renewal fee | $0 |
| Inventory (initial) | $30K – $41K |
| Total fee load | 4.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Curry House CoCo Ichibanya makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Curry House CoCo Ichibanya unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
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
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
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 4.0% — below the Full-Service Restaurants median of 7.0%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
Net unit growth of +100.0% over 3 years (0 opened, 0 closed).
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 medians
How Curry House CoCo Ichibanya Compares
Category median of published Full-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 7
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 6
- Corporate units in the system
- % franchised
- 14%
- vs corporate-owned
- Net growth (3-yr)
- +100.0%
- Net unit change over 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 1
- 0.14 per open outlet · Item 20 Table 5
- Projected new
- 1
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
1
states with franchisees (per FDD Item 12)
Where the owners are · Item 20 owner list
2 current owners across 2 states.
- CA 1
- TX 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
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 loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $595K
- Median loan
- $595K
- average
- Charge-off rate
- Under 10 loans (1)
- Insufficient SBA coverage: 1 loan, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (1)
- 5-yr charge-off
- Under 10 loans (1)
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Micro-franchise system with opaque unit economics, no financial performance disclosure, and unvalidated growth trajectory creates substantial investment risk.
Litigation (Item 3)
0 case reference(s): 3 pending, 0 settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Hotta Liesenberg Saito LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY2024 total revenue of $1,940,175 stated in Item 8 (100% derived from required franchisee purchases/leases). Balance-sheet figures (equity $854,114.91; total assets $1,265,301.38; total liabilities $411,186.47) are from the franchisor's own balance sheet in Exhibit B but are the UNAUDITED interim statement as of March 31, 2025; the audited FY2024/2023/2022 statements were not present/legible in the extracted text. Net income shown ($12,580.11) is for the Q1 2025 interim period only, not the full audited year, so left null.
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 58 / 100 verdict
- 01MINOROnly 7 units system-wide indicates minimal scale, unproven franchise model, and high risk of brand failure
- 02MINORNo average revenue or net income disclosure (Item 19) prevents ability to assess profitability and ROI on $907K-$1.4M investment
- 03MINORHigh initial investment ($907.5K-$1.4M) with only 3% royalty creates significant break-even burden for single-unit operator
- 04MEDNo disclosed unit growth trajectory—unknown if system is expanding, stagnant, or contracting
- 05MED10-year term commitment with $40K upfront fee locks capital into unproven concept with limited exit strategy
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 4.0% 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 | 10 years |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Los Angeles County, California |
| Jury trial waiver | No |
| Governing law | State where outlet is located |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 3 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 100 hrs
- On-the-job training
- 220 hrs
- Training location
- Torrance, California and CoCo Ichibanya restaurant in Southern California
- Ongoing training
- Optional
- Time to open
- 12 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- Aloha POS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Aloha POS
Item 20 · call current owners
Franchisee Contacts
2 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Curry House CoCo Ichibanya franchise?
The total investment to open a Curry House CoCo Ichibanya franchise ranges from $908K – $1.4M, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Curry House CoCo Ichibanya franchise owners earn?
Curry House CoCo Ichibanya makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Curry House CoCo Ichibanya?
Curry House CoCo Ichibanya is franchised by ICHIBANYA INTERNATIONAL USA, INC.. Its parent company is ICHIBANYA CO., LTD.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Curry House CoCo Ichibanya 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 Curry House CoCo Ichibanya FDD and qualifies whose outlets they describe.
What is Curry House CoCo Ichibanya's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Curry House CoCo Ichibanya (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 Curry House CoCo Ichibanya franchise locations are there?
As of their most recent FDD filing, Curry House CoCo Ichibanya has 7 total units in the United States, including 1 franchised units and 6 company-owned units.
Is Curry House CoCo Ichibanya a good franchise to buy?
FranchiseVerdict rates Curry House CoCo Ichibanya as a B-grade franchise with a verdict score of 58 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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.