Bottom line
- Total investment $482K – $1.6M including a $35K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $2.0M/year (median $2.0M).
- Rated STRONG with a risk score of 51/100. SBA loan default rate of 0.0% across 19 loans (below the industry average).
- System growing at 61.9% CAGR over 3 years with 35 total units — strong expansion trajectory.
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 Huckleberry’s unit return on the cash you put in?
Unlevered ROIC · per unit
25%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Huckleberry’s units return on equity?
Equity IRR · 5-yr
36.3%
4.71× MOIC
Year-1 DSCR
2.26×
EBITDA ÷ debt service
Equity required
$4.6M
on $13.7M purchase
Total debt
$9.1M
SBA $5.0M + senior + seller note
Overview
About
Huckleberry's franchisees operate retail/service locations (likely specialty food, beverage, or pet-related based on brand name) generating approximately $1.96M in average annual revenue. Day-to-day operations involve customer service, inventory management, and local marketing while paying 6% royalties on gross sales to the franchisor.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 16 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
Huckleberry's presents elevated caution risk due to undisclosed profitability data, concerning Going Concern status, sluggish unit growth, and lack of net income transparency needed to validate the investment thesis.
Score breakdown · what drove the 51 / 100 rating
- 01MEDNet income not disclosed in Item 19 — cannot verify actual profitability despite $1.96M avg revenue
- 02HIGHGoing Concern status is FALSE — indicates potential franchisor financial distress or viability questions
- 03MEDSlow unit growth of 9.7% YoY with only 35 total units — suggests limited market demand or franchisee satisfaction issues
- 04MINORWide investment range ($482K-$1.647M) without clear ROI metrics — high capital requirement with unclear payback period
- 05MINOR6% royalty on gross volume is non-standard and punitive during low-revenue months — franchisee cash flow risk
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
17 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Huckleberry’s · FDD (2024) PDF