Grimaldi's Coal Brick Oven PizzeriaFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Grimaldi's Coal Brick Oven Pizzeria 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: B. 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.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $1.4M – $1.8M including a $50K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $2.9M/year.
- Verdict B (Above Average) with a risk score of 54/100.
- Auditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- CBOP Domestic, Inc.
- Parent company
- Coal Brick Oven Pizzeria, Inc.
- Incorporated in
- AZ
- HQ
- 15005 N. Northsight Blvd., Scottsdale, AZ 85260
- Auditor
- Baker Tilly US, LLP
- Audited financials
- Franchisor revenue
- $163K
- vs $415K prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- JMC Restaurant Holdings
- Coal Brick Oven Pizzeria
- CBOP Global
- CBOP Retail
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Franchisees operate coal brick oven pizzerias serving coal-fired specialty pizzas in their local markets. Day-to-day responsibilities include managing kitchen operations, overseeing wood/coal inventory, training staff on artisanal pizza-making techniques, maintaining the specialized brick oven equipment, and driving local marketing to compete against other Grimaldi's locations and independent pizzerias.
- 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 | |
|---|---|---|---|
| Leasehold Improvements (Construction and Contractor) | $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%
- Gross Sales · 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 |
| Inventory (initial) | $20K – $25K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $2.9M
- Per unit, per year
- Median gross sales
- N/A
- 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 tier
- revenue_only
- Categorical assessment of disclosure depth
- Transparency
- 3 / 5
- vs category median 4 / 5 · below
Compared against 1264 Full-Service Restaurants brands
vs Full-Service Restaurants averages
How Grimaldi's Coal Brick Oven Pizzeria Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 46
- Opened
- 3
- Last reporting year
- Closed
- 2
- Terminated
- 7
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 9
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.3%
- Company-owned
- 42
- Corporate units in the system
- % franchised
- 9%
- vs corporate-owned
- 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
- Opened (3yr)
- 3
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 0
- Franchisor's next-year forecast
- Transfer rate
- 0.9%
- Owners selling to other franchisees
- Termination rate
- 0.8%
- Franchisor-initiated terminations
- Ceased ops
- 1.8%
- 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
Grimaldi's aggressive 300% growth trajectory combined with undisclosed profitability metrics and zero territorial protection creates significant execution and cannibalization risks.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $50,000
Bankruptcy (Item 4)
Disclosed in last 7 years
Multiple related Chapter 11 bankruptcy filings in March 2014 involving QFA Royalties LLC and affiliated entities including QCE Finance LLC, American Food Distributors LLC, National Marketing Fund Trust, QAFT Inc., QCE LLC, The Quizno's Master LLC, QIP Holder LLC, Quiz-CAN LLC, and Restaurant Realty LLC in U.S. Bankruptcy Court for the District of Delaware
Audited financials (Item 21)
Yes · Baker Tilly US, LLP⚠ Going-concern note flagged
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 54 / 100 rating
- 01MINORExplosive 300% YoY unit growth (46 units) suggests rapid expansion without proven sustainability track record
- 02MEDNet income not disclosed despite $2.89M average revenue—unable to verify actual profitability or ROI
- 03MINORNo territory protection creates cannibalization risk, especially during hypergrowth phase
- 04MINORHigh initial investment ($1.39M–$1.84M) with 10-year term but no Item 19 financials to justify returns
- 05MINORRapid expansion often correlates with quality control and franchisee support issues
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 |
| Protected territory | No |
| 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 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Arizona |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 55 hrs
- On-the-job training
- 430 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Site selection
- joint
- Franchisor financing
- Offered
- Item 10
- 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 Coal Brick Oven Pizzeria · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Grimaldi's Coal Brick Oven Pizzeria franchise?
The total investment to open a Grimaldi's Coal Brick Oven Pizzeria 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 Coal Brick Oven Pizzeria franchise owners earn?
According to Item 19 of the Grimaldi's Coal Brick Oven Pizzeria FDD, the average gross sales per unit is $2.9M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Grimaldi's Coal Brick Oven Pizzeria's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Grimaldi's Coal Brick Oven Pizzeria (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 Coal Brick Oven Pizzeria franchise locations are there?
As of their most recent FDD filing, Grimaldi's Coal Brick Oven Pizzeria 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 Coal Brick Oven Pizzeria a good franchise to buy?
FranchiseVerdict rates Grimaldi's Coal Brick Oven Pizzeria as a B-grade franchise with a risk score of 54 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.