Freshslice PizzaFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A FRESHSLICE PIZZA franchise requires a total initial investment of $235K – $511K, including a $55K franchise fee and an ongoing 10.0% royalty[2]. Per the 2025 FDD, average unit revenue was $920K[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $235K – $511K
- 42nd pct Service Resta…
- Avg gross sales
- $920K
- 31st pct Service Resta…
- Royalty
- 10.0%
- 84th pct Service Resta…
- Units
- 129
- 76th pct Service Resta…
- SBA default
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = >15% above Quick-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Started franchising in 2023. Newer systems carry more uncertainty but may offer better territories.
The system grew 46% year-over-year. Fast growth means demand, but can strain support.
15 legal cases disclosed in the FDD. Read Item 3 before signing.
60% cash-on-cash return (based on Gross Margin). Above the 20% threshold most investors target.
Bottom line
- Total investment $235K – $511K including a $55K franchise fee, 10.0% ongoing royalty.
- Average unit revenue of $920K/year, with an estimated 60% cash-on-cash return (based on Gross Margin). Note: this is gross profit, not take-home income.
- Verdict A (Top Quintile) with a risk score of 48/100.
- 15 litigation matters disclosed in Item 3, higher than typical. Review the summary for patterns (franchisor-initiated vs. franchisee-initiated).
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Freshslice USA LLC
- Parent company
- Freshslice Holdings Ltd.
- Ultimate parent
- Ray J. Russell
- CEO title
- Director and Chief Executive Officer
- Ray J. Russell
- CEO experience
- 25 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- DE
- HQ
- 1610 Ingleton Avenue, Burnaby, British Columbia, V5C 5R9
- Auditor
- Brantley Janson
- Audited financials
- Franchisor revenue
- $0
- Most recent fiscal year
Affiliated brands
- RF Franchising
Other brands the franchisor or its parent operates (Item 1).
Overview
About
FreshSlice Pizza franchisees operate quick-service or casual-dining pizza restaurants, managing daily food preparation, customer service, inventory, and local marketing. Franchisees generate average gross revenue of ~$920k annually with net income averaging ~$225k, but must navigate complex royalty calculations tied to 'non-core' items while adhering to strict brand standards under intense franchisor oversight.
- CEO
- Ray J. Russell
- Founded
- 2023
- FDD year
- 2025
- States available
- 0
FDD Item 7 · 2025 filing · 20 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| License Fee | $25K | $25K | |
| Training Feenot refundable | $10K | $10K | |
| Site Analysis & Lease Negotiation Feenot refundable | $10K | $10K | |
| Administration Feenot refundable | $10K | $10K | |
| Consulting and Inspection Fee | $15K | $15K | |
| Lease Admin Charge | $250 | $10K | |
| Leasing of Premises (per month) | $3K | $14K | |
| Travel, Lodging, Food and Auto Rental for Training | $250 | $4K | |
| Deposit for Lease | $5K | $15K | |
| Equipment, fixtures, and leasehold improvements | $113K | $308K | |
| Signage | $5K | $10K | |
| POS system | $6K | $7K | |
| POS fee (3 months) | $750 | $750 | |
| Inventory and Supplies | $5K | $12K | |
| Insurance | $800 | $1K | |
| Licenses | $3K | $10K | |
| Utilities | $1K | $2K | |
| Grand opening | $10K | $10K | |
| Professional Fees (lawyers, accountants, business advisors) | $1K | $8K | |
| Additional funds - 3 months | $12K | $30K | |
| Total initial investment | $235K | $511K |
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.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$101K
11.0% margin
Unlevered ROIC
26%
EBITDA / total invested capital
Payback
3.9 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $235K – $511K
- Near category avg vs category
- Liquid capital req'd
- $12K – $30K
- Better than avg vs category
- Franchise fee
- $13K – $55K
- Below avg, review vs category
- Royalty
- 10.0%
- typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 11.0%
- vs 9–13% typical
- Payback period
- 1.7 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 10.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $250 |
| Training fee | $10K |
| Transfer fee | $55K |
| Renewal fee | $5K |
| Inventory (initial) | $5K – $12K |
| Total fee load | 11.0% of rev |
Financial Performance
- Avg gross sales
- $920K
- Per unit, per year
- Median gross sales
- N/A
- Avg gross margin
- $225K
- Reported as Gross Margin in FDD Item 19
- Cash-on-cash
- 60.2%
- Based on Gross Margin / investment midpoint
- Item 19 type
- Forecasted
- Sample size
- 123 units
- vs category median 28 · large
- Transparency tier
- limited
- Categorical assessment of disclosure depth
- Transparency
- 9 / 5
- vs category median 4 / 5 · above
Compared against 453 Quick-Service Restaurants brands
vs Quick-Service Restaurants averages
How Freshslice Pizza Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 129
- Opened
- 41
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 0.8%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 98%
- vs corporate-owned
- Net growth (yr3)
- +46.0%
- Net unit change last year
- 3-yr CAGR
- +86.8%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 7
- Transfer rate
- 5.4%
- Owners selling to other franchisees
- Termination rate
- 0.8%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 21 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
- Washington
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 169
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Aggressive growth (46% YoY), multiple active litigation cases involving franchisee disputes, unclear royalty/revenue structure, and absent going concern disclosure indicate substantial operational and financial risk despite solid average unit economics.
Litigation (Item 3)
13 case reference(s): 1 pending, 0 settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Brantley Janson
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 48 / 100 rating
- 01HIGHMultiple pending and past litigation involving rebranding breaches, franchise agreement violations, and unpaid promissory notes—primary concern is franchisor enforcement inconsistency and franchisee disputes over obligations
- 02MINOR46% YoY unit growth appears unsustainable and may mask underlying franchisee churn; typical mature pizza franchises grow 5-15% YoY, suggesting aggressive recruitment or accounting anomalies
- 03MINOR10% royalty on non-core items only is vague and suggests potential revenue recognition disputes; unclear what constitutes 'non-core' and how franchisor audits compliance
- 04HIGHNo 'Going Concern' disclosure is FALSE—this is a critical red flag indicating potential financial instability at the corporate level or accounting irregularities
- 05HIGHHigh initial investment ($235k-$511k) combined with litigation history and unclear royalty structure creates elevated franchisee default risk
- 06MINORUnknown franchise term length is unusual and suggests either unstable agreement terms or lack of transparency in franchise disclosure
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Allowed renewalsℹ | 1 |
|---|---|
| Territory type | Radius |
| Protected territory | Yes |
| Territory radius | 0.6 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Mandatory arbitration | Yes |
| Governing law | Washington |
| Litigation count | 15 |
View Item 3 litigation summary
13 case reference(s): 1 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 24 hrs
- On-the-job training
- 96 hrs
- Ongoing training
- Required
- Field support
- 96 hrs/yr
- On-site visits per year
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisee
- Franchisor financing
- Offered
- Item 10
- POS system
- Snappy Innovations, Inc.
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Snappy Innovations, Inc.
Item 20 · call current owners
Franchisee Contacts
82 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
FRESHSLICE PIZZA · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a FRESHSLICE PIZZA franchise?
The total investment to open a FRESHSLICE PIZZA franchise ranges from $235K – $511K, with an initial franchise fee of $55K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do FRESHSLICE PIZZA franchise owners earn?
According to Item 19 of the FRESHSLICE PIZZA FDD, the average gross sales per unit is $920K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is FRESHSLICE PIZZA's franchise failure rate?
SBA 7(a) loan charge-off data is not available for FRESHSLICE PIZZA (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 FRESHSLICE PIZZA franchise locations are there?
As of their most recent FDD filing, FRESHSLICE PIZZA has 129 total units in the United States, including 68 franchised units and 2 company-owned units. 41 new units were opened in the latest reporting year.
Is FRESHSLICE PIZZA a good franchise to buy?
FranchiseVerdict rates FRESHSLICE PIZZA as a A-grade franchise with a risk score of 48 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
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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.