Grimaldi'sFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Grimaldi's franchise requires a total initial investment of $1.4M – $1.8M, including a $50K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $2.9M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $1.4M – $1.8M
- 46th pct Service Resta…
- Avg gross sales
- $2.9M
- 25th pct Service Resta…
- Royalty
- 6.0%
- 26th pct Service Resta…
- Units
- 46
- 35th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-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
The system grew 300% year-over-year. Fast growth means demand, but can strain support.
Bottom line
- Total investment $1.4M – $1.8M including a $50K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $2.9M/year (median $3.0M).
- Verdict A (Top Quintile) with a risk score of 44/100.
- Bankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- CBOP Domestic, Inc.
- CEO title
- Chief Executive Officer and President
- Joseph Ciolli
- CEO experience
- 23 yrs
- Years in role or industry
- Incorporated in
- AZ
- HQ
- 15005 N. Northsight Blvd., Scottsdale, AZ 85260
- Auditor
- Baker Tilly US, LLP
- Audited financials
- Franchisor revenue
- $138K
- vs $163K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
Grimaldi's franchisees operate coal-fired brick oven pizzerias, managing daily food preparation, ingredient sourcing, point-of-sale operations, staff scheduling, and customer service in a casual dining environment. The business model centers on premium Neapolitan-style pizza production with high-touch preparation and controlled ingredient quality across multiple daily service periods.
- CEO
- Joseph Ciolli
- Headquarters
- AZ
- Founded
- 2019
- FDD year
- 2025
- States available
- 12
FDD Item 7 · 2025 filing · 19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Construction and Leasehold Improvements | $630K | $850K | |
| Architectural and Engineering Fees | $32K | $40K | |
| Equipment | $210K | $240K | |
| Coal Brick Oven | $65K | $130K | |
| Furniture and Fixtures | $60K | $65K | |
| Interior Finishes and Equipment | $85K | $105K | |
| Exterior Finishes and Equipment | $40K | $65K | |
| Initial Franchise Fee | $50K | $50K | |
| Professional Services | $10K | $20K | |
| Rent (3 months) | $47K | $68K | |
| Pre-opening Travel | $25K | $32K | |
| Pre-opening Labor | $45K | $55K | |
| Market Introduction (opening advertising) | $13K | $18K | |
| Business Permits and Licenses (excluding liquor license) | $800 | $2K | |
| Opening Inventory | $20K | $25K | |
| Stationery, Printing and Supplies | $1K | $2K | |
| Insurance Pre-Payment | $4K | $5K | |
| Miscellaneous and Other Pre-Payments | $3K | $5K | |
| Additional Funds During the First Three Months of Operation | $50K | $60K | |
| Total initial investment | $1.4M | $1.8M |
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
$289K
10.0% margin
Unlevered ROIC
17%
EBITDA / total invested capital
Payback
5.8 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.4M – $1.8M
- Near category avg vs category
- Liquid capital req'd
- $50K – $60K
- Better than avg vs category
- Franchise fee
- $50K – $50K
- Better than avg vs category
- Royalty
- 6.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Transfer fee | $13K |
| Renewal fee | $13K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $2.9M
- Per unit, per year
- Median gross sales
- $3.0M
- Item 19 type
- gross_sales
- Sample size
- 43 units
- vs category median 13 · large
- Range (low → high)
- $1.1M→$5.3M
- Cohort dispersion (min → max)
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 1264 Full-Service Restaurants brands
vs Full-Service Restaurants averages
How Grimaldi's Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 46
- Opened
- 3
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 42
- Corporate units in the system
- % franchised
- 9%
- 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
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 0
- Franchisor's next-year forecast
- Ceased ops
- 4.3%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 12 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
12
states with franchisees (per FDD Item 12)
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Rapid expansion with undisclosed profitability, unprotected territory, and no financial transparency creates meaningful franchise investment risk despite strong top-line revenue.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
Disclosed in last 7 years
In re DATG Pizzeria, Inc., Case No. 9:2022bk17790-EPK, US Bankruptcy Court, Southern District of Florida. Voluntary Chapter 11 Subchapter 5 bankruptcy filed October 6, 2022. Discharged August 21, 2023. Company remains fully operational.
Audited financials (Item 21)
Yes · Baker Tilly US, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 44 / 100 rating
- 01MINORNo net income disclosure (Item 19) prevents ROI validation despite $2.9M average revenue
- 02MINORExplosive 300% YoY unit growth (likely <15 units to 46) suggests aggressive expansion with unproven model scalability
- 03MINORUnprotected territory creates direct competition risk and cannibalization within franchise system
- 04MINORHigh initial investment ($1.39M-$1.84M) with 6% royalty requires $173K+ annual sales just to cover royalties
- 05HIGHGoing Concern status is FALSE — unclear if this indicates going concern issues or simply not yet established
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Specific Location |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Arizona |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 55 hrs
- On-the-job training
- 371 hrs
- Training location
- On-site and at franchisor facility
- Ongoing training
- Required
- POS system
- Toast
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast
Item 20 · call current owners
Franchisee Contacts
3 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Grimaldi's · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Grimaldi's franchise?
The total investment to open a Grimaldi's franchise ranges from $1.4M – $1.8M, 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 Grimaldi's franchise owners earn?
According to Item 19 of the Grimaldi's FDD, the average gross sales per unit is $2.9M. The median is $3.0M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Grimaldi's's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Grimaldi's (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 Grimaldi's franchise locations are there?
As of their most recent FDD filing, Grimaldi's has 46 total units in the United States, including 1 franchised units and 42 company-owned units. 3 new units were opened in the latest reporting year.
Is Grimaldi's a good franchise to buy?
FranchiseVerdict rates Grimaldi's as a A-grade franchise with a risk score of 44 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.
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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.