DonutNV Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
DonutNV is a franchise serving fresh, made-to-order mini donuts and lemonade from mobile trailers and carts at events and fixed sites. Franchisees run a mobile operation booking events and managing production and service.
FranchiseVerdict summary · 2026
A DonutNV franchise requires a total initial investment of $190K – $273K, including a $60K franchise fee. Per the 2025 FDD, average unit revenue was $160K[2]. SBA 7(a) loans show a 2.9% charge-off rate across 35 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $190K – $273K
- 7th pct Service Resta…
- Avg gross sales
- $160K
- 0th pct Service Resta…
- Royalty
- N/A
- Units
- 144
- 33rd pct Service Resta…
- SBA charge-off
- 2.9%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-Service Restaurants avg · 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 $190K – $273K including a $60K franchise fee.
- RETURNSAverage unit revenue of $160K/year (median $124K).
- RISKVerdict A (Strongest tier), verdict score 64/100 (higher is better). SBA loan charge-off rate of 2.9% across 35 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHSystem growing at 787.5% CAGR over 3 years with 144 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- DonutNV Franchising, Inc.
- CEO title
- Co-Founder and President
- Amanda Gingold
- Incorporated in
- FL
- HQ
- 3745 S. Hwy 27, Suite A, Clermont, FL 34711
- Auditor
- DA Advisory Group PLLC
- Audited financials
- Franchisor revenue
- $4.2M
- vs $1.9M prior year
Affiliated brands
- Keystone Amusements IP Holdings
- Keystone Manufacturing
- Keystone Amusements Provisioning
- has the same business address as us
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Amanda Gingold
- Headquarters
- FL
- Founded
- 2018
- FDD year
- 2025
- States available
- 28
Can you afford it, and what does the money buy?
Entry cost runs 80% below the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown23 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $60K | $60K | |
| Technology Setup and Marketing Package | $2K | $2K | |
| Tow Vehicle | $0 | $3K | |
| Vehicle Trailer, Equipment, and Supplies | $115K | $125K | |
| State Specific Trailer Upfit | $0 | $20K | |
| Delivery of Trailer | $0 | $6K | |
| Rent and Utility Deposits | $0 | $9K | |
| Furniture | $0 | $500 | |
| Computer and Software | $30 | $3K | |
| Additional Opening Inventory | $100 | $5K | |
| Insurance Deposits and Insurance Premiums (up to 12 months) | $5K | $10K | |
| Pre-opening Travel Expense to Attend Training | $2K | $5K | |
| Market Introduction Program | $500 | $500 | |
| Professional Fees (lawyer, accountant, etc.) | $500 | $3K | |
| Business Permits and Licenses | $50 | $2K | |
| Printing, Stationery and Office Supplies | $0 | $500 | |
| Additional Funds (for first 3 months) | $5K | $20K | |
| Food Truck | $110K | $190K | |
| State Specific Food Truck Upfit | $0 | $20K | |
| Delivery of Food Truck | $0 | $6K | |
| Total initial investment | $362K | $553K |
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
- $190K – $273K
- Top 40% of category vs category
- Liquid capital req'd
- $5K – $20K
- Top 40% of category vs category
- Franchise fee
- $60K – $60K
- Top 40% of category vs category
- Royalty
- $750 per month per unit
- Ad fund
- $200 per month per unit (flat fee)
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | $750 per month per unit (adjustable annually for inflation) |
| Technology fee | $300 |
| Transfer fee | $10K |
| Renewal fee | $15K |
| Inventory (initial) | $100 – $5K |
What do units actually make?
Average unit sales run 91% below the full-service restaurants norm.
Source: FDD 2025 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$14K
9.0% margin
Unlevered ROIC
6%
EBITDA / total invested capital
Payback
17.0 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one DonutNV unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
6%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 DonutNV units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$64K
on $319K purchase
Total debt
$256K
SBA $0.2M + senior + seller note
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
- Avg gross sales
- $160K
- Per unit, per year
- Median gross sales
- $124K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- sales
- Sample size
- 45 franchisees
- vs category median 18 · large
- Range (low → high)
- $13K→$697K
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 3 / 10 · above
Compared against 805 Full-Service Restaurants brands
Revenue is only 0.7x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $160K/year in gross sales. Median is $124K — top performers pull the average up, so a typical unit earns less. Revenue-to-investment ratio: 0.7x.
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 787.5% CAGR over 3 years across 144 units — operators are staying and new ones are joining.
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 averages
How DonutNV Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 144
- Opened
- 51
- Last reporting year
- Closed
- 4
- Turnover rate
- 2.8%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 99%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 51
- Closed (3yr)
- 3
- Terminated (3yr)
- 1
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 20
- Reacquired (3yr)
- 3
- Franchisor bought back
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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 35
- Loan volume
- $6.2M
- Median loan
- $192K
- 50th percentile
- Charge-off rate
- 2.9%
- 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)
- 97.1%
- 5-yr charge-off
- 16.7%
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 1
- Typical loan rate
- 10.6%
- avg rate to borrowers
- Franchised industry avg
- 8.9%
- brand beats franchise avg ↓
- Jobs supported
- 221
- 3.6 per loan
- Lender concentration
- 63%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in mobile food services, franchised businesses charge off at 8.9% vs 13.0% for independents — franchising is associated with 32% lower SBA default risk in this category.
Top lenders financing DonutNV franchisees
Showing 3 of 7 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into DonutNV's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 7 lenders with concentration factor
- Per-state charge-off rates across 12 states
- Startup risk premium and job creation velocity
- 4-year lending trend
Instant access. No subscription.
What could kill this investment?
SBA loans charge off at 2.9% — 82% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
DonutNV presents elevated risk due to undisclosed profitability metrics, going concern warning, aggressive expansion without validated unit economics, and high capital requirements relative to disclosed revenue.
Litigation (Item 3)
No litigation required to be disclosed.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · DA Advisory Group PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 64 / 100 verdict
- 01MEDNet income not disclosed in FDD Item 19 — unable to validate profitability claims against $159,707 average revenue
- 02HIGHGoing concern status is FALSE — indicates franchisor financial stability uncertainty or structural issues
- 03MINORAggressive unit growth (44.9% YoY) may indicate oversaturation, unsustainable recruitment, or poor unit retention masking closures
- 04MINORFranchise fee ($59,500) represents 32% of minimum investment — high upfront cost relative to startup capital
- 05MINORProtected territory claims lack specificity — no data on territory size, population density, or exclusivity enforcement
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
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 |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory population | 100,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 4 |
| Mandatory arbitration | Yes |
| Arbitration location | Orlando, FL (franchisor headquarters) |
| Jury trial waiver | Yes |
| Governing law | FL |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed.
Items 10, 11
Training & Operations
- Classroom training
- 12 hrs
- On-the-job training
- 28 hrs
- Training location
- Orlando, FL
- Ongoing training
- Optional
- Time to open
- 6 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- Square / Flash Order
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Square / Flash Order
Item 20 · call current owners
Franchisee Contacts
137 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
DonutNV · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a DonutNV franchise?
The total investment to open a DonutNV franchise ranges from $190K – $273K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do DonutNV franchise owners earn?
According to Item 19 of the DonutNV FDD, the average gross sales per unit is $160K. The median is $124K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the DonutNV 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 DonutNV FDD and qualifies whose outlets they describe.
What is DonutNV's franchise failure rate?
Based on SBA 7(a) loan data, DonutNV has a charge-off rate of 2.9% across 35 loans, meaning 2.9% 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 DonutNV franchise locations are there?
As of their most recent FDD filing, DonutNV has 144 total units in the United States, including 142 franchised units and 2 company-owned units. 51 new units were opened in the latest reporting year.
Is DonutNV a good franchise to buy?
FranchiseVerdict rates DonutNV as a A-grade franchise with a verdict score of 64 out of 100 (higher is better), 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.