iSmash Franchise Cost, Revenue & Review 2026
- Investment
- $278K – $754K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Limited · 11 loans
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 on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored5 of 6 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $278K – $754K
- 23rd pct Recreation & …
- Avg gross sales
- N/A
- Incl. company outlets
- Royalty
- 6.0%
- 9th 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 median · 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.
- RETURNSItem 19 reports gross sales plus profit detail rather than annual gross sales, so unit revenue is not directly comparable.
- RISKVerdict C (Average), verdict score 44/100 (higher is better).
- GROWTHNegative, pipeline stalled: 25 agreements signed but not yet open against 7 open outlets (Item 20).
- 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
- FDD Item 1, page 8 of the 2025 FDD
- 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 8% 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%
- 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% |
| 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
No Item 19 revenue figure for iSmash is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one iSmash unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
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
Includes company-owned outlets
- Item 19 type
- gross sales plus profit detail
- Range (low → high)
- $665K→$874KCited, not corroborated — printed on page 52 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- 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 165 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 median).
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 medians
How iSmash Compares
Category median of published Recreation & Entertainment brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
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
- N/A
- 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
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 25
- 3.57 per open outlet · Item 20 Table 5
- Projected new
- 44
- Franchisor's next-year forecast
- 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
- Limited · 11 loans
- Limited SBA coverage: 11 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 11 loans
- 5-yr charge-off
- Limited · 11 loans
- 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.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for iSmash from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 70%
- Avg interest rate
- 10.00%
- Lender concentration
- 27.3%
- Job velocity
- 1.7 per $100K
- NAICS benchmark
- 7.0%
- NAICS 713990
- Jobs supported
- 83
Top SBA lendersTop lender holds 27% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Quaint Oak Bank | 3 | $1.6M | N/A |
| 2 | Manufacturers and Traders Trust Company | 2 | $523K | N/A |
| 3 | The Huntington National Bank | 2 | $380K | N/A |
| 4 | Capital Bank, National Association | 1 | $580K | N/A |
| 5 | Falcon National Bank | 1 | $500K | N/A |
| 6 | Citizens Bank | 1 | $633K | N/A |
| 7 | The Bancorp Bank National Association | 1 | $763K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| PAPennsylvania | 3 | 0 | -- |
| TXTexas | 2 | 0 | -- |
| FLFlorida | 1 | 0 | -- |
| ILIllinois | 1 | 0 | -- |
| NCNorth Carolina | 1 | 0 | -- |
| NYNew York | 1 | 0 | -- |
| VAVirginia | 1 | 0 | -- |
| WAWashington | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
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
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
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)
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.
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
- 01MINOROnly 7 units with 150% YoY growth suggests extremely early-stage system vulnerable to collapse
- 02MINORWide investment range ($277K-$753K) with no clarity on cost drivers or unit profitability variance
- 03MEDNo litigation disclosed but going concern status raises questions about franchisor solvency and support capability
- 04MINORRapid 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 territory |
| 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
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?
Item 19 of the iSmash FDD discloses outlet figures from $665K to $874K but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns iSmash?
iSmash is franchised by Smash Franchising LLC. Its parent company is Shortino Ventures LLC. Source: FDD Item 1, 2025 filing.
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). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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
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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.