Fish Window Cleaning Franchise Cost, Revenue & Review 2026
- Investment
- $107K – $125K
- Disclosed sales
- $517K
- gross sales, not profit
- SBA charge-off
- 21.4%
- on 49 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
FISH Window Cleaning is a franchise providing low-rise window cleaning, plus pressure washing and gutter service, for homes and businesses. Franchisees run a crew-based operation managing recurring commercial and residential accounts in a territory.
FranchiseVerdict summary · 2026
A FISH WINDOW CLEANING franchise requires a total initial investment of $107K – $125K, including a $50K – $75K franchise fee and an ongoing 5.0% royalty[2]. Per the 2025 FDD, average unit revenue was $517K[2]. SBA 7(a) loans show a 21.4% charge-off rate across 49 loans[1]. 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 7 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $107K – $125K
- 39th pct Cleaning & Ma…
- Avg gross sales
- $517K
- 14th pct Cleaning & Ma…
- Royalty
- 5.0%
- 8th pct Cleaning & Ma…
- Units
- 270
- 77th pct Cleaning & Ma…
- SBA charge-off
- 21.4%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Cleaning & Maintenance · color = vs category peers
Green = favorable by >10% vs Cleaning & Maintenance 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 $107K – $125K including a $50K franchise fee, 5.0% ongoing royalty.
- RETURNSAverage unit revenue of $517K/year.
- RISKVerdict B (Above average), verdict score 56/100 (higher is better). SBA loan charge-off rate of 21.4% across 49 loans (well above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +5 franchised outlets in the latest year (16 opened, 11 closed); 7 signed but not yet open (Item 20).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Fish Window Cleaning Services, Inc.
- CEO title
- Chief Executive Officer and Chief Financial Officer
- S. Michael Merrick
- CEO experience
- 1998 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- MO
- HQ
- 217 Chesterfield Towne Centre, Chesterfield, Missouri 63005
- Auditor
- Fine + Associates, P.C.
- Audited financials
- Franchisor revenue
- $12.8M
- vs $12.0M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- S. Michael Merrick
- Headquarters
- MO
- Founded
- 1998
- FDD year
- 2025
- States available
- 44
Can you afford it, and what does the money buy?
Entry cost runs 31% below the typical cleaning & maintenance franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown12 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $50K | $50K | |
| Travel and Living Expenses to Attend Training | $2K | $3K | |
| Equipment Package | $9K | $11K | |
| Office Package | $11K | $13K | |
| Initial Business Development and Marketing | $11K | $11K | |
| Vehicle | $1K | $2K | |
| Vehicle Modification | $4K | $4K | |
| Attorneys’ Fees | $500 | $2K | |
| Office Space – 3 Months | $5K | $6K | |
| Insurance Premiums | $2K | $5K | |
| Business Licenses, and Membership Dues | $100 | $900 | |
| Additional Funds - 3 Months | $14K | $19K | |
| Total initial investment | $107K | $125K |
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
- $107K – $125K
- Top 40% of category vs category
- Liquid capital req'd
- $14K – $36K
- Top 40% of category vs category
- Franchise fee
- $50K – $75K
- Middle of category vs category
- Royalty
- 5.0%
- Tiered by sales volume · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% |
| Technology fee | $100 |
| Transfer fee | $10K |
| Renewal fee | $5K |
| Inventory (initial) | $9K – $11K |
| Total fee load | 6.0% of rev |
A 6.0% total fee load is unusually lean. More of each revenue dollar stays with the franchisee.
What do units actually make?
Average unit sales land near the cleaning & maintenance norm.
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 FISH WINDOW CLEANING 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 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
$141K
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 FISH WINDOW CLEANING 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 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 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
- Avg gross sales
- $517K
- Per unit/yr · from the Item 19 franchised-cohort breakdown (no single system-wide average disclosed)
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
- 252 outlets
- vs category median 32 · large
- Range (low → high)
- $39K→$2.7MCited, not corroborated — printed on page 52 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Quartile band
- $259K→$775K
- Bottom 25% → top 25%
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 1 / 10
- vs category median 4 / 10 · below
Compared against 191 Cleaning & Maintenance brands
Revenue is 4.5x the investment midpoint. At typical franchise margins, this suggests a payback under 3 years.
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 $517K/year in gross sales. Revenue-to-investment ratio: 4.5x.
Fee burden
Total ongoing fee load of 6.0% — below the Cleaning & Maintenance median of 8.3%.
Disclosure
Transparency score 1/10 — minimal disclosure beyond the required average. Hard to judge the distribution of outcomes across units.
Operator retention
System roughly stable (+2.3% 3-year CAGR) with 270 units.
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 Cleaning & Maintenance medians
How Fish Window Cleaning Compares
Category median of published Cleaning & Maintenance 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
- 270
- Opened
- 16
- Last reporting year
- Closed
- 11
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.1%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +2.3%
- Net unit change over 3 years
- 3-yr CAGR
- +2.3%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 17
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 7
- 0.03 per open outlet · Item 20 Table 5
- Projected new
- 19
- Franchisor's next-year forecast
- Transfer rate
- 6.3%
- Owners selling to other franchisees
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 19 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.
Available to sell in · Item 12
- Illinois
- Michigan
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
93 current owners across 19 states.
- FL 23
- CA 14
- GA 10
- IN 7
- CO 5
- IL 5
- LA 4
- AR 3
- AZ 3
- CT 3
- IA 3
- MD 3
- +7 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
- 49
- Loan volume
- $4.8M
- Median loan
- $95K
- 50th percentile
- Charge-off rate
- 21.4%
- on 49 loans · 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)
- 78.6%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 28
- Defaults
- 9
- Typical loan rate
- 6.3%
- avg rate to borrowers
- Franchised industry avg
- 15.4%
- brand above franchise avg ↑
- Jobs supported
- 235
- 4.9 per loan
- Lender concentration
- 18%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in janitorial services, franchised businesses charge off at 15.4% vs 22.8% for independents — franchising is associated with 32% lower SBA default risk in this category.
Vintage analysis
Fish Window Cleaning charge-off rate by loan vintage
Top lenders financing Fish Window Cleaning franchisees
Showing 3 of 28 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 Fish Window Cleaning from SBA 7(a) FOIA data.
- Principal loss rate
- 14.2%
- Avg SBA guarantee
- 76%
- Avg interest rate
- 6.27%
- Avg chargeoff amount
- $75K
- Lender concentration
- 18.4%
- Job velocity
- 4.9 per $100K
- NAICS benchmark
- 16.8%
- NAICS 561720
- Jobs supported
- 235
Top SBA lendersTop lender holds 18% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Celtic Bank Corporation | 9 | $1.3M | 66.7% |
| 2 | Stearns Bank National Association | 7 | $704K | 0.0% |
| 3 | First United Bank and Trust Company | 4 | $715K | 33.3% |
| 4 | PNC Bank, National Association | 2 | $157K | 50.0% |
| 5 | Alerus Financial, National Association | 2 | $81K | 0.0% |
| 6 | TD Bank, National Association | 2 | $113K | 0.0% |
| 7 | Leader Bank, National Association | 2 | $100K | 0.0% |
| 8 | Morton Community Bank | 1 | $38K | 0.0% |
| 9 | JPMorgan Chase Bank, National Association | 1 | $10K | 0.0% |
| 10 | ChoiceOne Bank | 1 | $5K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 9 | 3 | 42.9% |
| CACalifornia | 6 | 1 | 20.0% |
| FLFlorida | 4 | 1 | 33.3% |
| PAPennsylvania | 4 | 2 | 66.7% |
| ILIllinois | 3 | 1 | 33.3% |
| MAMassachusetts | 3 | 0 | 0.0% |
| MNMinnesota | 3 | 0 | 0.0% |
| MIMichigan | 2 | 0 | 0.0% |
| OHOhio | 2 | 0 | 0.0% |
| TNTennessee | 2 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
A 21.4% charge-off rate means roughly 1 in 5 franchisees failed to repay their SBA loan. Investigate what changed.
What could kill this investment?
SBA loans charge off at 21.4% — 34% above the 16.0% national norm, i.e. higher 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
Fish Window Cleaning presents moderate-to-caution risk: sluggish unit growth, undisclosed financials preventing due diligence, employment litigation exposure, and a punitive royalty floor that could strain marginal performers.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Pope et al. v. Fish Window Cleaning, Inc. - FLSA joint employer claim dismissed in favor of franchisor 2017; settled with plaintiffs for $14,200 total; concluded.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Fine + Associates, P.C.
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY2024 consolidated revenues: Royalty income $9,665,012; Franchise sales $944,530; Technical support fees $652,983; Advertising fees $1,358,460; Sale of merchandise $148,081. Total $12,769,066.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 56 / 100 verdict
- 01MINORStagnant unit growth of only 1.9% YoY suggests mature or declining system momentum with 270 units showing minimal expansion
- 02HIGHJoint employment and wage violation litigation (Pope et al.) indicates potential labor classification mismanagement or compliance issues that could expose franchisees to liability
- 03MINORRoyalty structure based on 'greater of Gross Sales or Applicable Minimum Performance Standard' is punitive—franchisees pay minimums even if revenue lags, reducing flexibility
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before rent and labor.
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 | 75,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 1 year |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Missouri |
| Jury trial waiver | No |
| Governing law | MO |
| Litigation count | 1 |
View Item 3 litigation summary
Pope et al. v. Fish Window Cleaning, Inc. - FLSA joint employer claim dismissed in favor of franchisor 2017; settled with plaintiffs for $14,200 total; concluded.
Items 10, 11
Training & Operations
- Classroom training
- 43 hrs
- On-the-job training
- 47 hrs
- Training location
- St. Louis, MO headquarters and franchisee territory
- Ongoing training
- Required
- Time to open
- 3 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- Fish Proprietary System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Fish Proprietary System
Item 20 · call current owners
Franchisee Contacts
93 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 FISH WINDOW CLEANING franchise?
The total investment to open a FISH WINDOW CLEANING franchise ranges from $107K – $125K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do FISH WINDOW CLEANING franchise owners earn?
According to Item 19 of the FISH WINDOW CLEANING FDD, the average gross sales per unit is $517K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns FISH WINDOW CLEANING?
FISH WINDOW CLEANING is franchised by Fish Window Cleaning Services, Inc.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the FISH WINDOW CLEANING 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 FISH WINDOW CLEANING FDD and qualifies whose outlets they describe.
What is FISH WINDOW CLEANING's franchise failure rate?
Based on SBA 7(a) loan data, FISH WINDOW CLEANING has a charge-off rate of 21.4% across 49 loans, meaning 21.4% 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 FISH WINDOW CLEANING franchise locations are there?
As of their most recent FDD filing, FISH WINDOW CLEANING has 270 total units in the United States, including 269 franchised units and 1 company-owned units. 16 new units were opened in the latest reporting year.
Is FISH WINDOW CLEANING a good franchise to buy?
FranchiseVerdict rates FISH WINDOW CLEANING as a B-grade franchise with a verdict score of 56 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.