FranchiseVerdict
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FV-01045·MODERATEStandard76

Gelatissimo

Food & Beverage - Ice Cream & DessertsFranchising since 2025Website
Investment
$373K – $886K
85th pct Ice Cream & D…
Avg revenue
59th pct Ice Cream & D…
Royalty
4.0%
3rd pct Ice Cream & D…
Units
5
29th pct Ice Cream & D…
SBA default

Bottom line

  • Total investment $373K – $886K including a $35K franchise fee, 4.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated MODERATE with a risk score of 65/100.
  • 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

Legal entity
Silmarils, LLC
Parent company
Gelatissimo USA Unit Trust
Incorporated in
California
HQ
126 Coyote Brush, Irvine CA 92618
Auditor
Windes, Inc.
Audited financials
Franchisor revenue
$605K
vs $481K 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 Gelatissimo 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: restaurant
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $373K–$886K
Working capital
$
FDD reports $15K–$80K

Unlevered ROIC · per unit

12%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$83K
EBITDA margin
11.0%
Total invested
$677K
Payback
98 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

Gelatissimo franchisees operate gelato shops, managing daily operations including product preparation, customer service, inventory management, and store staffing. The business model centers on premium ice cream/gelato retail with likely seasonal demand fluctuations and dependency on foot traffic in high-visibility locations.

CEO
Rey Maninang
Founded
2023
FDD year
2025
States available
3

Item 7 · what it costs

The Vitals

Total investment
$373K – $886K
All-in to open one unit
Liquid capital
$15K – $80K
Cash you must have on hand
Franchise fee
$35K
Royalty
4.0%
Gross Sales · typical 6–8%
Ad fund
3.0%
typical 3–5%
Total fee load
7.0%
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
5
Opened
3
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
1
Corporate units in the system
% franchised
80%
vs corporate-owned
Multi-unit owners
1.0%
Net growth (yr3)
Outlier (see FDD)
Likely small-sample artifact
3-yr CAGR
Outlier (see FDD)
Likely small-sample artifact
2023
4+3
Franchised units
2024
1
Franchised units
2025
1
Franchised units

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

Item 20 · 4 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 · 4 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.

No SBA loan data available for this brand.

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

Risk & Legal

65
Risk · 0-100
MODERATE65 / 100

Gelatissimo presents high risk due to going concern status, minimal system scale, unverified unit economics, and lack of territorial protection—suitable only for investors with high risk tolerance and capital to absorb losses.

Score breakdown · what drove the 65 / 100 rating

  1. 01HIGHGoing Concern status indicates franchisor financial distress or operational viability concerns
  2. 02MEDOnly 5 units in system with no disclosed average revenue/net income makes ROI projections impossible
  3. 03MINORExplosive 300% YoY unit growth from ~1-2 units is unsustainable and suggests either new concept or prior collapse
  4. 04MINORNo protected territory creates direct competition risk between franchisees in same market
  5. 05MINORWide investment range ($372,500–$885,500) with no clear breakdown suggests inconsistent unit economics
  6. 06MINORHigh franchise fee ($35,000) relative to tiny system size and unproven unit economics
  7. 07MINORNo Item 19 financial performance data prevents validation of franchisor's revenue/profitability claims

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Protected territory
No
Initial term
10 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Delaware

Item 11

Training & Operations

Classroom training
39 hrs
On-the-job training
42 hrs
POS system
Plan G
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

7 numbers

Locked
(408) 202-••••
Silmarils, LLC, located at
CA
(949) 617-••••
CA
(281) 982-••••
TX

One-time purchase · CSV download · Validation questions included

FDD download

Gelatissimo · FDD (2025) PDF

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