Bottom line
- Total investment $185K – $320K including a $60K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $615K/year (median $589K).
- Rated STRONG with a risk score of 42/100. SBA loan default rate of 0.0% across 186 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 EverLine Coatings and Services unit return on the cash you put in?
Unlevered ROIC · per unit
29%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 EverLine Coatings and Services units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$983K
on $4.9M purchase
Total debt
$3.9M
SBA $2.5M + senior + seller note
Overview
About
EverLine franchisees operate commercial and industrial coating and protective services businesses, providing application, maintenance, and restoration services to industrial facilities, commercial properties, and infrastructure clients. Day-to-day work involves project estimation, crew management, equipment operation, safety compliance, and client relationship management across multi-day or multi-week coating projects.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 32 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
Rapid unit growth masking transparency gaps (no earnings disclosure), active litigation over termination practices, and franchisor financial stress present meaningful risks for capital deployment.
Score breakdown · what drove the 42 / 100 rating
- 01MEDNo Item 19 (Average Unit Volume) disclosed despite $614,560 claimed average revenue — inability or unwillingness to substantiate earnings claims is a major transparency concern
- 02HIGHActive litigation with former franchisee alleging wrongful termination raises questions about franchise agreement enforcement, support, and dispute resolution fairness
- 03MINORHigh unit growth rate (45.5% YoY) on a small base (80 units) suggests either aggressive recruiting or potential for rapid contraction if growth momentum slows
- 04MINORRoyalty structure with 2.5% rate for subcontracted work creates incentive misalignment and makes true profitability opaque for franchisees relying on subcontractors
- 05HIGHGoing concern flag indicates franchisor financial stress despite growth claims, raising sustainability questions
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
85 numbers
One-time purchase · CSV download · Validation questions included
FDD download
EverLine Coatings and Services · FDD (2025) PDF