Bottom line
- Total investment $170K – $268K including a $10K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated CAUTION with a risk score of 75/100. SBA loan default rate of 0.0% across 5 loans (below the industry average).
- System contracting at -35.5% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
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 Halloween Express unit return on the cash you put in?
Unlevered ROIC · per unit
22%
Below typical band (30–60%)
Overview
About
Halloween Express franchisees operate seasonal pop-up retail stores that sell costumes, decorations, and party supplies, typically opening 6-8 weeks before Halloween. Daily operations include inventory management, point-of-sale transactions, staffing temporary employees, and merchandise displays in leased retail spaces that are often temporary locations.
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 · 23 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.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Halloween Express presents high risk due to significant unit decline, undisclosed financial performance, multi-state litigation, and lack of transparency around franchisee earnings.
Score breakdown · what drove the 75 / 100 rating
- 01MINOR15.5% unit contraction year-over-year indicates a shrinking franchise system with potential structural problems
- 02MEDNo disclosed average revenue or net income data (Item 19) prevents proper ROI validation and suggests weak or inconsistent unit economics
- 03HIGHMultiple litigation matters across three states (Colorado, Virginia, Washington) signal compliance issues and regulatory friction
- 04MINORSeasonal business model creates cash flow volatility and limits franchisee income stability outside peak Halloween season
- 05MINORInitial investment range of $170K-$267K is substantial for a declining system with no proven profitability benchmarks
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
50 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Halloween Express · FDD (2022) PDF