iSmash Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
iSmash is a recreation franchise operating rage rooms where guests pay to smash objects in a controlled setting. Franchisees run the venues, managing sessions, safety, cleanup, and staffing.
FranchiseVerdict summary · 2026
A iSmash franchise requires a total initial investment of $278K – $754K, including a $55K franchise fee and an ongoing 6.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $278K – $754K
- 24th pct Recreation & …
- Avg gross sales
- N/A
- Incl. company outlets
- Royalty
- 6.0%
- 7th pct Recreation & …
- Units
- 7
- 23rd pct Recreation & …
- SBA charge-off
- N/A
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = favorable by >10% vs Recreation & Entertainment 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 $278K – $754K including a $55K franchise fee, 6.0% ongoing royalty.
- RETURNSFY2024 Total Revenues $378,942 (Merchandise sales $125,889; Royalties $108,730; Initial franchise fees $78,628; Brand development fund $43,616; Technology fees $17,750; Other income $4,329). FY2023 Total Revenues $108,061. Net loss FY2024 ($582,753); members' equity deficit ($777,539). Going concern / affiliate emphasis-of-matter noted.
- RISKVerdict C (Average), verdict score 44/100 (higher is better).
- DATAItem 19 reports gross sales plus profit detail rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Smash Franchising LLC
- Parent company
- Shortino Ventures LLC
- CEO title
- Chief Executive Officer
- Steven Shortino
- Incorporated in
- DE
- HQ
- 1225 Jefferson Road #13, Rochester, NY 14623
- Auditor
- Metwally CPA PLLC
- Audited financials
- Franchisor revenue
- $379K
- vs $108K prior year
Overview
About
- CEO
- Steven Shortino
- Headquarters
- NY
- Founded
- 2021
- FDD year
- 2025
- States available
- 4
Can you afford it, and what does the money buy?
Entry cost runs 61% below the typical recreation & entertainment franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $55K | $55K | |
| Construction and Leasehold Improvements | $110K | $415K | |
| Lease Deposits - Three Months | $7K | $53K | |
| Furniture, Fixtures and Equipmentnot refundable | $42K | $68K | |
| Signage | $17K | $40K | |
| Computer, Software and Point of Sale System | $4K | $6K | |
| Grand Opening Marketing | $3K | $10K | |
| Opening Inventory Packagenot refundable | $3K | $10K | |
| Utility Deposits | $250 | $1K | |
| Insurance Deposits - Three Months | $2K | $7K | |
| Professional Fees | $20K | $35K | |
| Licenses and Permits | $1K | $5K | |
| Additional Funds - Three Months | $15K | $50K | |
| Total initial investment | $278K | $754K |
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.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $278K – $754K
- Top 40% of category vs category
- Liquid capital req'd
- $15K – $50K
- Top 40% of category vs category
- Franchise fee
- $55K – $55K
- Top 40% of category vs category
- Royalty
- 6.0%
- percentage · typical 6–8%
- Ad fund
- 0.0%
- 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 | 0.0% of gross sales |
| Technology fee | $250 |
| Transfer fee | $10K |
| Renewal fee | $5K |
| Inventory (initial) | $3K – $10K |
| Total fee load | 8.0% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
iSmash did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one iSmash unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
23%
Below the 30–60% attractive-franchise band
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
FY2024 Total Revenues $378,942 (Merchandise sales $125,889; Royalties $108,730; Initial franchise fees $78,628; Brand development fund $43,616; Technology fees $17,750; Other income $4,329). FY2023 Total Revenues $108,061. Net loss FY2024 ($582,753); members' equity deficit ($777,539). Going concern / affiliate emphasis-of-matter noted.
Includes company-owned outlets
- Item 19 type
- gross sales plus profit detail
- Range (low → high)
- $665K→$874K
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 166 Recreation & Entertainment brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 8.0% (near the Recreation & Entertainment average).
Disclosure
Item 19 reports gross sales plus profit detail rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
Net unit growth of +150.0% over 3 years (3 opened, 0 closed).
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 Recreation & Entertainment averages
How iSmash Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 7
- Opened
- 3
- 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
- 2
- Corporate units in the system
- % franchised
- 71%
- vs corporate-owned
- Net growth (3-yr)
- +150.0%
- Net unit change over 3 years
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
- Continuity rate
- 125.0%
- Units that stayed open
- Termination rate
- 60.0%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 4 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.
4
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.
- Total loans
- 11
- Loan volume
- $5.0M
- Median loan
- $500K
- 50th percentile
- Charge-off rate
- N/A
- no resolved loans yet — rate needs a terminal outcome
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 0
- Typical loan rate
- 10.0%
- avg rate to borrowers
- Franchised industry avg
- 13.9%
- n=1,279 loans
- Jobs supported
- 83
- 1.7 per loan
- Lender concentration
- 27%
- top lender's share
Borrower mix: 91% went to startups / new businesses, 9% to established operators
Franchise vs independent — in all other amusement and recreation industries, franchised businesses charge off at 13.9% vs 16.2% for independents — franchising is associated with 14% lower SBA default risk in this category.
Top lenders financing iSmash franchisees
Showing 3 of 7 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into iSmash's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 7 lenders with concentration factor
- Per-state charge-off rates across 8 states
- Startup risk premium and job creation velocity
- 2-year lending trend
Instant access. No subscription.
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
iSmash presents a caution-to-high-risk profile due to franchisor going concern issues and extreme early-stage fragility, despite strong per-unit economics.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Metwally CPA PLLC
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
- Can negotiate own supplier terms: No
Score breakdown · what drove the 44 / 100 verdict
- 01HIGHGoing Concern designation indicates franchisor financial distress despite franchisee profitability
- 02MINOROnly 7 units with 150% YoY growth suggests extremely early-stage system vulnerable to collapse
- 03MINORWide investment range ($277K-$753K) with no clarity on cost drivers or unit profitability variance
- 04MEDNo litigation disclosed but going concern status raises questions about franchisor solvency and support capability
- 05MINORRapid expansion claims (150% growth from ~3-4 units baseline) may not be sustainable or indicative of system health
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% 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 | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 10 mi |
| Territory population | 250,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Monroe County, New York |
| Jury trial waiver | No |
| Governing law | DE |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 20 hrs
- On-the-job training
- 60 hrs
- Training location
- Virtually or Rochester, New York and franchisee's Center
- Ongoing training
- Required
- Time to open
- 9 mo
- From signing to launch
- Site selection
- Franchisee selects, franchisor approves
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
1 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
iSmash · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a iSmash franchise?
The total investment to open a iSmash franchise ranges from $278K – $754K, with an initial franchise fee of $55K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do iSmash franchise owners earn?
iSmash does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the iSmash 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 iSmash FDD and qualifies whose outlets they describe.
What is iSmash's franchise failure rate?
SBA 7(a) loan charge-off data is not available for iSmash (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 iSmash franchise locations are there?
As of their most recent FDD filing, iSmash has 7 total units in the United States, including 5 franchised units and 2 company-owned units. 3 new units were opened in the latest reporting year.
Is iSmash a good franchise to buy?
FranchiseVerdict rates iSmash as a C-grade franchise with a verdict score of 44 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?
If you represent iSmash, you can request corrections or provide updated information.
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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.