Figaro’s Italian Pizza / Nick-N-Willy’s
Bottom line
- Total investment $87K – $549K including a $39K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 56/100. SBA loan default rate of 0.0% across 169 loans (below the industry average).
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 Figaro’s Italian Pizza / Nick-N-Willy’s unit return on the cash you put in?
Unlevered ROIC · per unit
19%
Below typical band (30–60%)
Overview
About
Franchisees operate fast-casual Italian pizza restaurants (Figaro's or Nick-N-Willy's branded) handling dough preparation, wood-fired or traditional oven cooking, table/counter service, inventory management, and staff oversight. Day-to-day involves managing peak service windows, food cost control, labor scheduling, and customer experience while adhering to brand standards.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 22 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
Declining franchisee base with opaque financials and ambiguous cost structures present meaningful execution risk despite protected territory.
Score breakdown · what drove the 56 / 100 rating
- 01MINORDeclining unit count (-2.8% YoY) suggests system contraction and potential franchisee dissatisfaction
- 02MINORNo Item 19 financial disclosure (Avg Revenue/Net Income not provided) prevents ROI validation and raises transparency concerns
- 03MINORWide investment range ($86.5K–$549K) indicates high variability in startup costs with unclear value drivers
- 04MINORDual royalty structure (6% or $150/week minimum) creates unpredictable cost burden, especially problematic for low-volume locations
- 05MINOR10-year term is lengthy given system shrinkage, limiting exit flexibility if franchise underperforms
- 06HIGHNo litigation disclosure combined with shrinking unit base suggests potential undisclosed operational or legal issues
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
29 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Figaro’s Italian Pizza / Nick-N-Willy’s · FDD (2026) PDF