Bottom line
- Total investment $56K – $119K including a $30K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 66/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
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 Frost Shades unit return on the cash you put in?
Unlevered ROIC · per unit
81%
Above typical band (30–60%)
Overview
About
Frost Shades franchisees typically operate window tinting, solar control, or protective film installation services for residential and/or commercial properties. Day-to-day work involves customer acquisition, site surveys, film cutting/installation, quality assurance, and customer service management, often combining hands-on technical labor with business operations.
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 · 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).
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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Frost Shades is a pre-revenue, hyper-growth micro-franchise with non-disclosed unit economics, unclear going concern status, and insufficient franchisee data to validate profitability claims.
Score breakdown · what drove the 66 / 100 rating
- 01MEDNo Item 19 financial performance data (avg revenue/net income) disclosed — impossible to validate ROI claims
- 02MINORExtreme unit growth of 260% YoY is unsustainable and suggests either aggressive recruitment or system instability
- 03HIGHGoing Concern status is FALSE, indicating potential franchisor financial distress or operational uncertainty
- 04MINORRoyalty structure with 'greater of 7% or minimum monthly fee' is opaque — actual franchisee burden unclear without knowing the minimum
- 05MEDOnly 19 units total — very small, immature system with limited track record and franchisee reference pool
- 06MINORWide investment range ($55.5K–$119.2K) suggests unclear cost structure and potential hidden expenses
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
12 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Frost Shades · FDD (2022) PDF