Ike's Love & Sandwiches
Bottom line
- Total investment $141K – $614K including a $80K franchise fee, 8.0% ongoing royalty.
- Average unit revenue of $706K/year (median $475K).
- Rated STRONG with a risk score of 53/100.
- System growing at 75.0% CAGR over 3 years with 106 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 Ike's Love & Sandwiches unit return on the cash you put in?
Unlevered ROIC · per unit
22%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Ike's Love & Sandwiches units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$847K
on $4.2M purchase
Total debt
$3.4M
SBA $2.1M + senior + seller note
Overview
About
Franchisees operate fast-casual sandwich restaurants featuring Ike's signature menu (primarily sandwiches and sides). Day-to-day operations include food preparation, inventory management, staffing, customer service, and local marketing in a QSR environment with typical lunch/dinner rushes.
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 · 19 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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Moderate-to-caution risk: Strong unit growth and revenue metrics are undermined by undisclosed net income, unprotected territory, and wide investment variance that prevent ROI validation.
Score breakdown · what drove the 53 / 100 rating
- 01MEDNet income not disclosed in FDD — impossible to validate actual profitability against $141K-$614K investment range
- 02MINORNo protected territory — direct competition from other Ike's franchisees in same market
- 03MEDWide investment range ($472K spread) suggests inconsistent unit economics or hidden costs not disclosed
- 04MINOR8% royalty on $705K avg revenue = $56,400/year in ongoing fees with no income guarantee
- 05MINOR106 units with 16.7% YoY growth is solid but insufficient to offset profitability opacity
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
23 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Ike's Love & Sandwiches · FDD (2024) PDF