DonutNV Franchise Cost, Revenue & Review 2026
- Investment
- $190K – $273K
- Disclosed sales
- $160K
- gross sales, not profit
- SBA charge-off
- Limited · 35 loans
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 revenue per franchisee was $160K. This franchisor reports Item 19 per franchisee rather than per outlet, so the figure is not comparable with per-outlet averages[2]. 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 scored6 of 6 headline figures on this page cite a page of the filing.
Overview
- Investment
- $190K – $273K
- 7th pct Service Resta…
- Avg gross sales
- $160K
- Per franchisee, not per outlet
- Royalty
- Flat fee
- Units
- 144
- 33rd 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 $190K – $273K including a $60K franchise fee.
- RETURNSAverage revenue per franchisee of $160K/year (median $124K). Averaged per franchisee, not per outlet - not comparable with per-outlet figures.
- RISKVerdict B (Above average), verdict score 59/100 (higher is better).
- GROWTHPositive: net +44 franchised outlets in the latest year (51 opened, 7 closed); 5 signed but not yet open (Item 20).
- 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 66% below the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial franchise fee (see Note 1) | $60K | $60K | |
| Technology Setup and Marketing Package | $2K | $2K | |
| Tow Vehicle (see Note 2) | $0 | $3K | |
| Vehicle Trailer, Equipment, and Supplies (see Note 3) | $115K | $125K | |
| State Specific Trailer Upfit (see Note 3) | $0 | $20K | |
| Delivery of Trailer (see Note 4) | $0 | $6K | |
| Rent and Utility Deposits (see Note 5) | $0 | $9K | |
| Furniture | $0 | $500 | |
| Computer and software | $30 | $3K | |
| Additional Opening Inventory | $100 | $5K | |
| Insurance Deposits and Premiums (up to 12 months) | $5K | $10K | |
| Pre-opening travel expense to attend training (see Note 6) | $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) (see Note 7) | $5K | $20K | |
| Total initial investment | $190K | $273K |
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 90% below the full-service restaurants norm.
Averaged per franchisee, not per outlet - not comparable with per-outlet figures
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for DonutNV until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for royalty rate, ad fund rate, 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.
Total invested capital · disclosed
$244K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
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, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own 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?
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 royalty rate, ad fund rate, 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.
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%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for royalty rate, ad fund rate, 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.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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
Averaged per franchisee, not per outlet - not comparable with per-outlet figures
- Avg gross sales
- $160K
- Per franchisee, per year — not per outlet
- Median gross sales
- $124K
- Per franchisee, not per outlet
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 45 franchisees
- vs category median 18 · large
- Range (low → high)
- $13K→$697KCited, not corroborated — printed on page 48 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- 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 801 Full-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
The average franchisee generates $160K/year in gross sales. Median is $124K — top performers pull the average up, so a typical unit earns less.
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 medians
How DonutNV Compares
Per franchisee, not per outlet - the category median is per-outlet only, so no comparison is shown
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
- 144
- Opened
- 51
- Last reporting year
- Closed
- 7
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 4.9%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 99%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Reacquired
- 3
- Franchisor bought back
- Signed, not yet open
- 5
- 0.03 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 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.
Where the owners are · Item 20 owner list
85 current owners across 21 states; 52 former (terminated, transferred or not renewed) listed separately.
- TX 26
- TN 9
- GA 8
- PA 7
- NC 6
- IN 5
- NJ 3
- VA 3
- MO 2
- NE 2
- NY 2
- OH 2
- +9 more states
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.
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
- Limited · 35 loans
- Limited SBA coverage: 35 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 35 loans
- 5-yr charge-off
- Limited · 35 loans
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 1
- Typical loan rate
- 10.6%
- avg rate to borrowers
- Franchised industry avg
- 8.9%
- n=160 loans
- 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.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for DonutNV from SBA 7(a) FOIA data.
- Principal loss rate
- 0.2%
- Avg SBA guarantee
- 69%
- Avg interest rate
- 10.61%
- Avg chargeoff amount
- $10K
- Lender concentration
- 62.9%
- Job velocity
- 3.6 per $100K
- NAICS benchmark
- 3.6%
- NAICS 722330
- Jobs supported
- 221
Top SBA lendersTop lender holds 63% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 22 | $3.5M | 25.0% |
| 2 | Readycap Lending, LLC | 7 | $1.5M | 0.0% |
| 3 | First Bank of the Lake | 2 | $442K | N/A |
| 4 | U.S. Bank, National Association | 1 | $196K | N/A |
| 5 | Wilson Bank & Trust | 1 | $218K | N/A |
| 6 | Republic Bank & Trust Company | 1 | $284K | 0.0% |
| 7 | America First FCU | 1 | $78K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 10 | 1 | 33.3% |
| INIndiana | 4 | 0 | -- |
| TNTennessee | 4 | 0 | -- |
| AZArizona | 3 | 0 | -- |
| NCNorth Carolina | 3 | 0 | -- |
| VAVirginia | 3 | 0 | 0.0% |
| OHOhio | 2 | 0 | -- |
| PAPennsylvania | 2 | 0 | -- |
| GAGeorgia | 1 | 0 | 0.0% |
| KYKentucky | 1 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
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
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
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 59 / 100 verdict
- 01MEDNet income not disclosed in FDD Item 19 — unable to validate profitability claims against $159,707 average revenue
- 02MINORAggressive unit growth (44.9% YoY) may indicate oversaturation, unsustainable recruitment, or poor unit retention masking closures
- 03MINORFranchise fee ($59,500) represents 32% of minimum investment — high upfront cost relative to startup capital
- 04MINORProtected 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 territory |
| 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
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. Important context: Averaged per franchisee, not per outlet - not comparable with per-outlet figures. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns DonutNV?
DonutNV is franchised by DonutNV Franchising, Inc.. Source: FDD Item 1, 2025 filing.
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?
SBA 7(a) loan charge-off data is not available for DonutNV (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 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 B-grade franchise with a verdict score of 59 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
Are you the franchisor?
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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.