FranchiseVerdict
Five Star Painting logo
FV-00954·STRONGExcellent86

Five Star Painting

Home Services - PaintingFranchising since 2007Website
Investment
$77K – $185K
14th pct Painting
Avg revenue
62nd pct Painting
Royalty
6.0%
10th pct Painting
Units
234
90th pct Painting
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $77K – $185K including a $45K franchise fee, 6.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated STRONG with a risk score of 53/100. SBA loan default rate of 0.0% across 103 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Five Star Painting SPV LLC
Parent company
Neighborly Assetco LLC
Incorporated in
Delaware
HQ
1010 North University Parks Drive, Waco, Texas 76707
Auditor
Ernst & Young LLP
Audited financials
Franchisor revenue
$384K
vs $452K prior year

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 Five Star Painting unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: restoration
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $77K–$185K
Working capital
$
FDD reports $6K–$11K

Unlevered ROIC · per unit

59%

In Yale's "attractive" band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$83K
EBITDA margin
11.0%
Total invested
$139K
Payback
20 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Overview

About

Five Star Painting franchisees operate residential and commercial interior/exterior painting services, managing crews, scheduling jobs, handling customer relationships, and executing quality control. Daily operations involve estimating projects, managing labor logistics, sourcing materials, and maintaining brand standards across their protected territory.

CEO
Michael Anthony Davis
Founded
2020
FDD year
2024
States available
38

Item 7 · what it costs

The Vitals

Total investment
$77K – $185K
All-in to open one unit
Liquid capital
$6K – $11K
Cash you must have on hand
Franchise fee
$45K
Royalty
6.0%
Percentage of Gross Sales · typical 6–8%
Ad fund
2.0%
typical 3–5%
Total fee load
8.0%
vs 9–13% typical

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

Total units
234
Opened
14
Last reporting year
Closed
10
Turnover rate
4.3%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Net growth (yr3)
+1.7%
Net unit change last year
3-yr CAGR
+4.0%
Compounded over last 3 years
2022
234+4
Franchised units
2023
230
Franchised units
2024
225
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 10 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 10 states
Not registered

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.

Total loans
103
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

53
Risk · 0-100
STRONG53 / 100

Five Star Painting presents elevated risk due to regulatory history, anemic unit growth, and complete absence of financial performance data needed to assess the 6% royalty burden on typical franchisee returns.

Score breakdown · what drove the 53 / 100 rating

  1. 01MINORStagnant unit growth: Only 1.7% YoY expansion with 234 units suggests market saturation or franchisee struggles
  2. 02MINORNo financial disclosure: Item 19 (average revenues/net income) absent—impossible to validate ROI on $77k-$184k investment
  3. 03MINORPattern of regulatory violations: Three separate consent judgments (2010 Illinois, 2017 California, 2010 Kansas) across corporate and affiliates indicate systemic compliance issues
  4. 04HIGHGoing Concern flag is False but financial opacity combined with slow growth raises sustainability questions
  5. 05MEDHigh 6% royalty rate on undisclosed revenue base creates uncertainty about actual franchisee profitability

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Population-based
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
3
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
No
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Texas

Item 11

Training & Operations

Classroom training
79 hrs
On-the-job training
40 hrs
POS system
Onverity
Operating tech stack

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

73 numbers

Locked
(815) 245-••••
PA
(205) 706-••••
AL
(719) 237-••••
CO

One-time purchase · CSV download · Validation questions included

FDD download

Five Star Painting · FDD (2024) PDF

Single-page checkout · instant download · CSV export of contacts available separately above