Heavyweight Waste Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Heavyweight Waste is a waste and recycling franchise providing commercial trash collection and dumpster service. Franchisees run route-based operations, managing collection routes, trucks, and commercial accounts.
FranchiseVerdict summary · 2026
A HEAVYWEIGHT WASTE franchise requires a total initial investment of $410K – $527K, including a $50K franchise fee and an ongoing 8.0% royalty[2]. Per the 2025 FDD, average unit revenue was $931K[2]. FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $410K – $527K
- 82nd pct Cleaning & Ma…
- Avg gross sales
- $931K
- 27th pct Cleaning & Ma…
- Royalty
- 8.0%
- 42nd pct Cleaning & Ma…
- Units
- 30
- 35th pct Cleaning & Ma…
- SBA charge-off
- N/A
Quick verdict · Cleaning & Maintenance · color = vs category peers
Green = favorable by >10% vs Cleaning & Maintenance avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $410K – $527K including a $50K franchise fee, 8.0% ongoing royalty.
- RETURNSAverage unit revenue of $931K/year.
- RISKVerdict D (Below average), verdict score 29/100 (higher is better).
- GROWTHSystem growing at 250.0% CAGR over 3 years with 30 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Heavyweight Waste Franchise Partners, LLC
- Parent company
- SMT Holdings, LLC
- CEO title
- President
- Justin Haskin
- Incorporated in
- IN
- HQ
- 484 E Carmel Drive, #246, Carmel, IN 46032
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $0
- vs $262K prior year
Overview
About
- CEO
- Justin Haskin
- Headquarters
- IN
- Founded
- 2021
- FDD year
- 2025
- States available
- 6
Can you afford it, and what does the money buy?
Entry cost runs 50% above the typical cleaning & maintenance franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $100K | $150K |
| Equipment, build-out, other | $261K | $327K |
| Total initial investment | $410K | $527K |
Source: HEAVYWEIGHT WASTE 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $410K – $527K
- Bottom third — review vs category
- Liquid capital req'd
- $100K – $150K
- Bottom third — review vs category
- Franchise fee
- $50K – $50K
- Middle of category vs category
- Royalty
- 8.0%
- percentage · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $700 |
| Training fee | $500 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales land near the cleaning & maintenance norm.
Source: FDD 2025 · Item 19
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
$93K
10.0% margin
Unlevered ROIC
16%
EBITDA / total invested capital
Payback
6.4 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one HEAVYWEIGHT WASTE unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
16%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 HEAVYWEIGHT WASTE units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$558K
on $2.8M purchase
Total debt
$2.2M
SBA $1.4M + senior + seller note
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
- Avg gross sales
- $931K
- Per unit, per year
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- Actual (Covered Businesses)
- Sample size
- 4
- vs category median 32 · small
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 192 Cleaning & Maintenance brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $931K/year in gross sales. Revenue-to-investment ratio: 2.0x.
Fee burden
Total ongoing fee load of 9.0% (near the Cleaning & Maintenance average).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence. Sample size of 4 units — treat as directional only.
Operator retention
System expanding at 250.0% CAGR over 3 years across 30 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Cleaning & Maintenance averages
How Heavyweight Waste Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 30
- Opened
- 0
- 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
- 16
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
- Net growth (3-yr)
- +55.6%
- Net unit change over 3 years
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
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.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Heavyweight Waste presents HIGH RISK due to substantiated misrepresentation litigation, regulatory investigation, undisclosed profitability metrics, unprotected territory, and going concern issues—warranting extreme caution despite revenue growth figures.
Litigation (Item 3)
4 cases involving affiliate Smash Franchise Partners: (1) former franchisees won arbitration award of $2.875M for misrepresentation; (2) former franchisee settled for $80K refund + $67.5K deposit return; (3) Republic Services federal lawsuit over property damage and interference; (4) former SMT Holdings shareholders suing Justin Haskin for fraud in ownership transfer
Largest disclosed settlement: $2,875,182
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, 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: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 29 / 100 verdict
- 01HIGHMultiple active and concluded litigations involving misrepresentation, with a $2.875M award to plaintiffs indicating substantiated fraud claims
- 02MINORPending arbitration regarding misrepresentation and population data suggests current operational integrity concerns
- 03MINORWashington Securities Administrator investigation resulting in consent order indicates regulatory scrutiny of franchise operations
- 04MINORUnprotected territory creates direct franchisee competition and cannibalization risk within the 30-unit system
- 05HIGHHigh 55.6% YoY unit growth (18 new units) appears unsustainable given litigation backdrop and may indicate aggressive recruitment masking unit attrition
- 06HIGHGoing Concern status of False is critical red flag suggesting potential financial instability of franchisor
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory population | 200,000 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Carmel, Indiana |
| Jury trial waiver | No |
| Governing law | IN |
| Litigation count | 4 |
View Item 3 litigation summary
4 cases involving affiliate Smash Franchise Partners: (1) former franchisees won arbitration award of $2.875M for misrepresentation; (2) former franchisee settled for $80K refund + $67.5K deposit return; (3) Republic Services federal lawsuit over property damage and interference; (4) former SMT Holdings shareholders suing Justin Haskin for fraud in ownership transfer
Items 10, 11
Training & Operations
- Classroom training
- 25 hrs
- On-the-job training
- 24 hrs
- Training location
- Franchisor facility in Carmel, Indiana or virtual; infield training at franchisee location
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- Franchisor financing
- Offered
- Item 10
- POS system
- Vonigo
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Vonigo
Item 20 · call current owners
Franchisee Contacts
10 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
HEAVYWEIGHT WASTE · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a HEAVYWEIGHT WASTE franchise?
The total investment to open a HEAVYWEIGHT WASTE franchise ranges from $410K – $527K, 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 HEAVYWEIGHT WASTE franchise owners earn?
According to Item 19 of the HEAVYWEIGHT WASTE FDD, the average gross sales per unit is $931K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the HEAVYWEIGHT WASTE FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the HEAVYWEIGHT WASTE FDD and qualifies whose outlets they describe.
What is HEAVYWEIGHT WASTE's franchise failure rate?
SBA 7(a) loan charge-off data is not available for HEAVYWEIGHT WASTE (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 HEAVYWEIGHT WASTE franchise locations are there?
As of their most recent FDD filing, HEAVYWEIGHT WASTE has 30 total units in the United States, including 14 franchised units and 16 company-owned units.
Is HEAVYWEIGHT WASTE a good franchise to buy?
FranchiseVerdict rates HEAVYWEIGHT WASTE as a D-grade franchise with a verdict score of 29 out of 100 (higher is better), 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.
For franchisors
Are you the franchisor?
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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.