Falbo Bros Pizzeria Franchise Cost, Revenue & Review 2026
- Investment
- $40K – $160K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Falbo Bros Pizzeria is a pizza franchise serving made-to-order pizzas and Italian fare for carryout and delivery. Franchisees run the restaurants, managing food prep, delivery, and staffing.
FranchiseVerdict summary · 2026
A Falbo Bros Pizzeria franchise requires a total initial investment of $40K – $160K, including a $10K – $15K franchise fee and an ongoing 5.0% 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: F (Weakest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high - issued more than two years ago
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 scored3 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $40K – $160K
- 2nd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 12th pct Service Resta…
- Units
- 7
- 30th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-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 $40K – $160K including a $10K franchise fee, 5.0% 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 F (Weakest tier), verdict score 23/100 (higher is better).
- GROWTHNegative: net -2 franchised outlets in the latest year (0 opened, 0 closed) (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
- Culinary Management Services, Inc.
- Predecessor
- Falbo Bros Franchising, LLC; Falbo Bros. Pizzeria, Inc.
- Prior franchisor entity
- CEO title
- President and CEO
- Stuart P. Bell
- CEO experience
- 42 yrs
- Years in role or industry
- Incorporated in
- MN
- HQ
- 6867 Boudin Street NE, Suite 2, Prior Lake, MN 55372
- Franchisor revenue
- $669K
- Most recent fiscal year
Overview
About
- CEO
- Stuart P. Bell
- Headquarters
- MN
- FDD year
- 2023
- States available
- 2
Can you afford it, and what does the money buy?
Entry cost runs 79% below the typical quick-service restaurants franchise.
Source: FDD 2023 · Items 5–7
The filing's Item 7 TOTAL row prints $40,000 to $160,000 (p12, printed as '$40,00 to $160, 000'). Its own six line items add to $45,000 to $250,000, and the cover states $40,000 to $250,000. The total is shown as the table prints it; the cover's figure is noted here.
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $10K | $10K |
| Working capital (3–6 mo) | $2K | $10K |
| Equipment, build-out, other | $28K | $140K |
| Total initial investment | $40K | $160K |
Source: Falbo Bros Pizzeria 2023 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
- $40K – $160K
- Top 40% of category vs category
- Liquid capital req'd
- $2K – $10K
- Top 40% of category vs category
- Franchise fee
- $10K – $15K
- Top 40% of category vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 5.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 0.0% of gross sales |
| Transfer fee | $3K |
| Renewal fee | $5K |
| Total fee load | 5.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Falbo Bros Pizzeria 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 Falbo Bros Pizzeria 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: 2023 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 5.0% — below the Quick-Service Restaurants median of 7.5%.
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
System shrank 22.2% over 3 years. Ask existing franchisees about local market conditions.
Multi-unit rate
Only 8% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Quick-Service Restaurants medians
How Falbo Bros Pizzeria Compares
Category median of published Quick-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 2023 · Item 20
The cited filing is dated February 6, 2023 and its Item 20 table runs through a '2023' row (7 to 7) that is not a completed year, so the years shown are the last three completed: 7 franchised at the end of 2022, 9 at the end of 2021, 10 at the end of 2020; no company-owned outlets since 2016. No newer Falbo Bros filing has been found on the state registries; figures are as of that filing.
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 7
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 42.9%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 8.3%
- Net growth (3-yr)
- -22.2%
- Net unit change over 3 years
- 3-yr CAGR
- -22.2%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
- Continuity rate
- 100.0%
- Units that stayed open
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 6 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
18 current owners across 6 states.
- WI 9
- IA 5
- CO 1
- FL 1
- MN 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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
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 pending or concluded litigation required to be disclosed as of the effective date.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
No audited financials on file
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 states financial statements are internally produced by Culinary Management Services, Inc. (profit and loss statements and a balance sheet, year ending 2022); they are not audited. The actual figures (Exhibit 9, Balance Sheet and Profit & Loss Statement) are not present as text in the disclosure document.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 23 / 100 verdict
- 01MEDOnly 7 total units system-wide indicates minimal scale, limited support infrastructure, and high failure risk
- 02MEDNo disclosed litigation but going concern issue suggests potential undisclosed legal or operational problems
- 03MED5-year term is short for pizza QSR; limited runway to recoup $15K franchise fee + buildout costs
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 5.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 60 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Minnesota |
| Jury trial waiver | Yes |
| Governing law | MN |
| Litigation count | 0 |
View Item 3 litigation summary
No pending or concluded litigation required to be disclosed as of the effective date.
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 150 hrs
- Training location
- TBD (Franchisor headquarters or designated location)
- Ongoing training
- Required
- Field support
- 15 hrs/yr
- On-site visits per year
- Time to open
- 1 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
18 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 Falbo Bros Pizzeria franchise?
The total investment to open a Falbo Bros Pizzeria franchise ranges from $40K – $160K, with an initial franchise fee of $10K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Falbo Bros Pizzeria franchise owners earn?
Falbo Bros Pizzeria 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 Falbo Bros Pizzeria?
Falbo Bros Pizzeria is franchised by Culinary Management Services, Inc.. Source: FDD Item 1, 2023 filing.
What is Item 19 in the Falbo Bros Pizzeria 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 Falbo Bros Pizzeria FDD and qualifies whose outlets they describe.
What is Falbo Bros Pizzeria's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Falbo Bros Pizzeria (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 Falbo Bros Pizzeria franchise locations are there?
As of their most recent FDD filing, Falbo Bros Pizzeria has 7 total units in the United States, including 7 franchised units and 0 company-owned units. The cited filing is dated February 6, 2023 and its Item 20 table runs through a '2023' row (7 to 7) that is not a completed year, so the years shown are the last three completed: 7 franchised at the end of 2022, 9 at the end of 2021, 10 at the end of 2020; no company-owned outlets since 2016. No newer Falbo Bros filing has been found on the state registries; figures are as of that filing.
Is Falbo Bros Pizzeria a good franchise to buy?
FranchiseVerdict rates Falbo Bros Pizzeria as a F-grade franchise with a verdict score of 23 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.
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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.