Itrip Vacations Franchise Cost & 2025 FDD Data
31/100
Fourth tier
31 this brand55 Real Estate medianlikely 20–42: narrower with more SBA loans (moderate confidence)
Higher is better · an editorial assessment, not investment advice
#2,937 of 3,068 graded brands
Why a D: Helped by legal record and transparency. See all six factors
- Total investment
- $118K – $153K
- Avg gross sales
- $1.7M
- 114 territories reporting; not profit
- SBA charge-off
- 40.0%
40% SBA 7(a) loans to Itrip Vacations owners charged off (4 of 10 resolved loans, approved since FY1991); Real Estate median 23.5%.
Data from the FDD filing + SBA 7(a) records. Analysis by FranchiseVerdict · Methodology · Website · Report an error · Franchisor? Claim this listing
FranchiseVerdict summary · 2025 FDD
Per the 2025 FDD, a Itrip Vacations franchise requires a total initial investment of $118K – $153K, including a $10K – $30K franchise fee. Per the 2025 FDD, average gross sales were $1.7M (114 territories reporting; gross sales, not profit). SBA 7(a) loans show a 40.0% charge-off rate on 10 resolved loans. Verdict grade: D (Fourth tier), an editorial assessment, not investment advice.
Sources: 2025 FDD · SBA 7(a) loan records (FOIA) · What one unit could make and lose →
Sources, dates and evidence
FDD issued: · Last cited check: · Staleness risk: medium (issued 12 to 24 months ago; a newer filing is likely on file)
Evidence for the headline figures: 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 scored7 of 7 headline figures on this page cite a page of the filing.
Overview
Quick verdict · vs Real Estate median
Top edge: green = better than the Real Estate median by more than 10%, red = worse by more than 10%, gray = within 10% or no benchmark. Source: FDD filings + SBA 7(a).
Data from public FDD filings and SBA records. Methodology
Bottom line
- RETURNSAverage gross sales of $1.7M/year (outlet median $1.2M; 114 territories reporting; gross sales, not profit).
- GROWTHIn the latest Item 20 year, the number of franchised outlets did not change (3 opened, 3 left the franchised system, 3 of them bought back by the franchisor).
AT STAKEOne unit at the Item 7 midpoint: $18K a year in payments on assumed SBA 7(a)-style terms.You put in about $27K of your own cash and personally guarantee a $108K loan. Assumptions are labeled in Sales; not investment advice.See what one unit could make and lose
Things to check before you sign (3)
- SBA 7(a) charge-off 40.0% on 10 resolved loans, loans approved since FY1991, above the Real Estate median of 23.5% (13 brands).
- The franchisor receives rebates or payments from suppliers you buy from (Item 8, required suppliers).
- Limited data: this page holds only part of the filing. Read the FDD itself before relying on any figure here.
Checked and clear: no auditor doubt that the franchisor can keep operating, no net loss of franchised outlets in the latest Item 20 years, no lawsuit naming the franchisor in Item 3 and no jury-trial waiver. Not on file here, so ask: competition inside your territory and owner-operator rule.
What to do next
Step 1: Read the FDD itself.
Free: the franchisor must give it to you at least 14 days before you sign or pay. Or look it up in a state registry (Wisconsin, Minnesota, California). What to read first.
Step 2: Talk to current and former owners.
Free: Item 20 of the FDD lists every current owner and those who left last year, most with a phone number. Questions to ask.
Shortcut: the Itrip Vacations owner list as a CSV, in the Contacts section.
Step 3: Talk to an SBA lender.
Free: the SBA's Lender Match, or the lenders already lending to this brand in the SBA section. Ask what you would personally guarantee and what the monthly payment would be. If you plan to use retirement savings, ask a CPA about the rules for that first.
Step 4: Have a franchise attorney review the FDD and agreement.
Free: your state bar's lawyer referral service can name franchise lawyers, and many offer a short first consultation. Bring the checks listed above.
Research steps, not investment or legal advice.
Can you afford it, and what does the money buy?
Entry cost (the Item 7 midpoint) is near the Real Estate median ($130K).
Source: FDD 2025 · Items 5–7 (fees and startup costs)
Do you qualify? The filing states no minimum net worth or liquid capital. Ask iTRIP, LLC (Item 1: 2035 Lakeside Centre Way, Suite 250, Knoxville, Tennessee 37922-6594) and your lender what they require, and keep living costs for the first year outside the deal.
FDD Item 7 (startup costs) · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $10K | $10K |
| Working capital (first 3 months) | $44K | $49K |
| Equipment, build-out, other | $64K | $94K |
| Total initial investment | $118K | $153K |
Source: Itrip Vacations 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 6 · what you pay once you are open
Ongoing fees
| Fee | Amount |
|---|---|
| Marketing / ad fundBrand-wide marketing pool. No iTrip Brand Fund established; when formed, up to 1% of Total Rental Revenue | 0.0% |
| Technology fee$540/month Software License Fee for Proprietary Software and Web Hosting Program | $540/month |
| Transfer fee | $10,000 |
| Renewal fee | $5,000 |
What do units actually make?
Average gross sales are 4.5× the Real Estate median ($384K).
Source: FDD 2025 · Item 19 (sales and earnings)
Items 6 (other fees), 7 (startup costs) and 19 (sales and earnings) · assumptions labeled
What you could make and lose: one unit
What one Itrip Vacations unit would ask of you, from the filing's Item 7 total and labeled assumptions.
Average gross sales are $1.7M (FDD p.70). This brand's Item 19 does not print cost lines. Enter your own from a lease quote, a payroll plan and calls with current owners. So this box does not estimate a profit. To cover the loan payment alone, one unit has to clear $18K a year after its food, labor, rent and other costs and the franchisor's fees.
How these figures are worked out
- Loan (assumption): 80% of the $135K Item 7 midpoint is a $108K loan, paid over 10 years at 10.5%: $18K a year. SBA 7(a)-style terms on a long-term rate; your lender sets yours. Itrip Vacations' past SBA 7(a) loans averaged 8.2% at approval; 7(a) rates move with the prime rate, so 10.5% is a current-rate assumption, not this brand's history.
What you put at risk
Your own cash in: about $27K Assumption (the part the loan does not cover of the $135K Item 7 midpoint), plus whatever anything Item 7 leaves out (its notes say what). The loan is $108K.
Personal guarantee. SBA 7(a) loans require a personal guarantee from anyone who owns 20% or more of the business. If the unit cannot pay, the lender can collect from you personally, which can include your savings and your home. The worst case is losing the cash you put in and still owing the rest of the loan.
Gross sales are not profit, and none of these figures is take-home pay until tax and every operating cost are paid. The assumptions are ours, not the filing's. Not investment advice.
Returns modelOne unit · several units · editable
One unit
One unit: what is left after the loan payment
Gross sales, minus the franchisor's fees and the operating costs, is the unit's EBITDA (earnings before interest, taxes, depreciation and amortization). Minus an assumed loan payment, that is what is left for you, before tax. Gross sales are not profit.
This brand's Item 19 does not print cost lines. Enter your own from a lease quote, a payroll plan and calls with current owners. Invested capital is the Item 7 total, which already includes its working-capital (additional funds) line.
Returns model · one unit
What would one Itrip Vacations unit leave you each year after the loan payment?
Item 19 reports $1,734,734 per unit.
Gross sales, not profit: the costs below decide what is left.
The filing also sets a minimum or cap on these fees: “4% to 6.1% of Total Rental Revenue per client; minimum 4% (for client management fee <=15%) up to 6.1% (for CMF >=22%), tiered in 0.15% increments per 0.5% CMF above 15%” (Item 6). This model applies the percentages, so at low sales the real fee can be higher than shown here.
Item 6, as stored, a year. A fixed fee, so it comes off EBITDA as dollars, not a share of sales.
This brand's Item 19 does not print cost lines. Enter your own from a lease quote, a payroll plan and calls with current owners.
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.
Item 7 midpoint of $118K to $153K
Item 7's $44K to $49K additional funds are already in the total
Left after the loan payment · per year
The unit's EBITDA minus the assumed loan payment. Before tax, depreciation and any cost your inputs leave out (insurance, accounting and legal, licenses, technology fees): not take-home pay.
Gross sales are not profit. Neither the filing nor a stated assumption on this page supplies royalty rate, direct costs, labor, rent / occupancy and other operating costs. Enter your own (a lease quote, owner calls) and the model runs on it.
Loan of $108K at 10.5% over 10 years, an assumption, not a quote. Return and payback are before tax, depreciation and the costs above. The loan usually needs your personal guarantee.
Buying several existing units? The acquisition scenario
Buying several units
What buying a few existing units could return
Prices an existing operator of a few units off the single-unit EBITDA above, after shared services, and finances it with an SBA 7(a) loan, a conventional loan and a seller note. It shows the yearly return on your cash (IRR), whether year-1 earnings cover the loan payments (DSCR) and how the price is paid for. It starts at 5 units; every deal term is an assumption you can change, and none is from the FDD.
Not modelled yet
Gross sales are not profit. Neither the filing nor a stated assumption on this page supplies royalty rate, direct costs, labor, rent / occupancy and other operating costs. Enter your own (a lease quote, owner calls) and the model runs on it.
This scenario starts from a per-unit EBITDA. Fill in the operating costs in the one-unit model above and it runs on that figure, or take it to the full ROI workbench, where the multi-unit and acquisition models accept your own per-unit economics.
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 · filed by iTRIP, LLC
Financial performance
- Range (low → high)
- $0→$12.2MSource: 2025 FDD, page 71
- Cohort dispersion (min → max)
Percentile ranks within Real Estate
Each rank is among the Real Estate brands that report that figure (the count is under each bar).
Average gross sales are 12.8x the investment midpoint. Gross sales are not profit: payback depends on margins the FDD does not disclose.
vs Real Estate medians
How Itrip Vacations compares
Category median of published Real Estate 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.
Who are you contracting with?
iTRIP, LLC, owned by iTrip Holdco, LLC.
Item 1 (the franchisor) · who you're contracting with
The franchisor
Corporate structure & franchisor financials
- Legal entity
- iTRIP, LLC
- Parent company
- iTrip Holdco, LLC
- FDD Item 1, page 6 of the 2025 FDD
- Ultimate parent
- Smokey Parent, L.P. (c/o Blackstone Inc.)
- FDD Item 1, page 7 of the 2025 FDD
- CEO title
- General Manager
- Vickie Storm
- Incorporated in
- TN
- HQ
- 2035 Lakeside Centre Way, Suite 250, Knoxville, Tennessee 37922-6594
Same owner · FDD Item 1, page 7
Portfolio: Blackstone (private-equity sponsor)
Grouped by the owner's name as each filing prints it (this page: the 2025 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
Vacation rental property management and online listing services franchise; provides property management, digital marketing services, and related services for short-term rental properties
- CEO
- Vickie Storm
- Franchised outlets in
- 22 states and territories
- Item 20 Table 3, at year end
Is the system healthy?
+5 franchised outlets over the two years to 2024 (109 to 114, +4.6% in total, +2.3% a year compounded).
Source: FDD 2025 · Item 20 (outlets opened, closed and transferred)
Item 20 (outlet counts) · unit dynamics
The growth chart
- Company-owned
- 1
- Corporate units in the system
Last fiscal year · Item 20 rates and pipeline
- Reacquired
- 3
- Franchisor bought back
- Signed, not yet open
- 0
- Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
Item 20 · franchised units at year end
Franchised units rose from 109 in 2022 to 114 in 2024
Axis does not start at zero.
Source and method
Item 20 (outlet counts) Table 3 · franchised outlets at year end
Where current outlets are
Franchised outlets at year end by state, as the filing's Item 20 Table 3 counts them. Not a list of where the franchisor may sell new units.
Current outlets (count on the tile) · 22 statesNo current outlet
114 franchised outlets at year end in 22 states (Item 20 Table 3).
Government records
SBA loan data
Lenders charged off 40.0% of 10 resolved SBA 7(a) loans, above the 23.5% category median. 7(a) is the SBA's main small-business loan; a resolved loan was paid in full or charged off.
- Loans on file
- 29
- SBA 7(a) loans matched to this brand, incl. those still being repaid
- Loan volume
- $6.0M
- Average loan
- $207K
- loan volume divided by loans
- Charge-off rate
- 40.0%
- 4 of 10 resolved loans
- Paid in full
- 60.0%
- of resolved loans
- Recent-loan charge-off
- Too early to judge
- only 4 recent loans have been resolved
- Lenders
- 10
- Average interest rate
- 8.2%
- Jobs reported
- 94
- Lender concentration
- 55%
- top lender's share
Cumulative: every 7(a) loan matched to this brand in the SBA’s FOIA files, approved FY1991 onward. Historical lending data, not predictive of future performance. How SBA charge-off rates are calculated
Benchmark: the median Real Estate brand charges off 23.5% (13 brands with a published rate, same cumulative window and source). This brand is 16.5 points above it.
Borrower mix: of 29 loans with a business-age entry, 28 recorded an age: 24 (86%) went to startups or businesses under two years old and 4 (14%) to established businesses or ownership changes; 1 was marked unanswered.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Full SBA lending reportlenders · charge-off rate · trend
Lender network · SBA 7(a)
SBA Lending Report
Lender, state and yearly detail for Itrip Vacations from SBA 7(a) FOIA loan records.
- Average SBA guarantee
- 81%
- Average interest rate
- 8.2%
- Lender concentration
- 55%
- Jobs reported
- 94
Top 10 SBA lenders by loan count
| Loans | Volume | Charge-off |
|---|---|---|
| United Midwest Savings Bank National Association | ||
| 16 | $2.4M | Not on file |
| TD Bank, National Association | ||
| 3 | $825K | Not on file |
| Stearns Bank National Association | ||
| 2 | $213K | Not on file |
| The Huntington National Bank | ||
| 2 | $566K | Not on file |
| Newtek Small Business Finance, Inc. | ||
| 1 | $100K | Not on file |
A lender’s rate counts only its resolved loans, the loans that have finished (paid in full or charged off); a 0.0% often means few of its loans have finished. Under 10 resolved loans, the rate reads “Too few”.
Charge-off rate by state (top 10 by loans)
| State | Loans | Charged off | Rate |
|---|---|---|---|
| FL Florida | 10 | 1 | Too few4 resolved |
| OR Oregon | 3 | 0 | Too few2 resolved |
| TX Texas | 3 | 0 | Too few1 resolved |
| CA California | 2 | 0 | Too few0 resolved |
| CO Colorado | 2 | 1 | Too few1 resolved |
| SC South Carolina | 2 | 0 | Too few0 resolved |
| AR Arkansas | 1 | 0 | Too few0 resolved |
| AZ Arizona | 1 | 0 | Too few0 resolved |
| GA Georgia | 1 | 0 | Too few0 resolved |
| ID Idaho | 1 | 0 | Too few0 resolved |
Rate: charged-off loans over resolved loans (paid in full plus charged off), shown from 10 resolved loans. "Too few": under 10 resolved. The Loans column counts every approval in the window, including loans still being repaid.
SBA 7(a) loans approved per year
Borrower profile
The SBA's own business-age labels (5)
Source: SBA 7(a) FOIA loan-level data, matched to the brand by FranchiseVerdict.
A 40.0% charge-off rate means about 1 in 3 resolved SBA 7(a) loans to this brand was charged off. The approval-year chart above shows which years they came from.
What are the risks?
SBA loans charge off at 40.0% on 10 resolved loans, above the Real Estate median of 23.5% (13 brands).
Source: SBA 7(a) FOIA · FDD Items 3, 21
Verdict grade + FDD Items 3 (litigation), 4 (bankruptcy), 8 (required suppliers), 16 (what you may sell), 21 (audited financials)
Risk and legal
Grade D: Fourth tier, 31/100 (category median 55); the full grade is at the top of the page.
How the grade is built
Why a D, factor by factor
- Financial health NeutralNo going-concern doubt; franchisor net income positive
- Unit economics NeutralAvg gross sales $1.7M on a $135K investment midpoint, 12.8x (gross sales, not profit)
- Unit growth Neutral+5 franchised outlets over the two years to 2024 (109 to 114, +4.6% in total, +2.3% a year compounded); turnover 2.6%
- Scale Neutral114 franchised units, +1 company-owned (115 in all); franchising since 2015
- Legal HelpsNo litigation naming the franchisor in Item 3
- Transparency HelpsItem 19 discloses financial performance
- Adjustments after the six dimensions (-41 points)SBA loan record: the SBA charge-off rate (40.0% on 10 resolved loans) is between 20% and 50%, a range the score counts against a brand, so it took 15 points off. The score uses fixed ranges, not the category median, so a rate below its category median can still cost points.Score limits: a ceiling the method sets for specific risks (such as a very high SBA charge-off rate, high turnover or an auditor's going-concern doubt) took 26 points off.
From the six scored dimensions, an editorial assessment, not investment advice. How the score is built
Bankruptcy (Item 4)
None disclosed
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
Ask what the franchisor earns on the supplies it sells you or the rebates it takes (Item 8).
- Franchisor sells you products: Yes
- Franchisor takes supplier rebates: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
What are you signing up for?
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12 (territory), 15 (owner participation) and 17 (renewal, termination and disputes)
Contract and territory detail
| Termination notice | 90 days |
|---|---|
| Jury trial waiver | No |
Items 10 (financing), 11 (training and support)
Training and operations
- On-the-job training
- 48 hrs
- Franchisor financing
- Not offered
- Item 10
Item 20 (outlet counts) · call current owners
Franchisee contacts
Who can you call before you sign?
90 current outlets listed, run by 89 franchisee companies
Each record has the franchisee (company or owner name as the filing prints it), phone number and state. No cities. 91 records: 90 current outlets + 1 former owner (terminated, transferred, not renewed or otherwise left). From the filing's Item 20 (the outlet list); the FDD itself is the free source. Our list covers 90 of the 114 franchised outlets Item 20 counts at year end; the owner exhibit prints the rest without a usable phone number, or omits them.
For your own due-diligence calls only. Not for telemarketing, marketing lists, or automated or prerecorded calls or texts.
One-time · CSV download · full refund within 7 days if the data does not match the FDD. Some numbers, especially for former owners, may be outdated.
Frequently asked questions
How much does it cost to open a Itrip Vacations franchise?
Per the 2025 FDD, the total investment to open a Itrip Vacations franchise ranges from $118K to $153K, with an initial franchise fee of $10K – $30K. This is the Item 7 total in the Franchise Disclosure Document (FDD): the startup costs the franchisor lists, such as build-out, equipment, inventory and working capital. It usually leaves out buying land or a building; Item 7's notes say what is excluded.
What do Itrip Vacations franchise owners earn?
According to Item 19 of the Itrip Vacations FDD, average gross sales were $1.7M (114 territories reporting; gross sales, not profit). The median is $1.2M. What an owner keeps depends on location, operating costs and management.
Who owns Itrip Vacations?
Itrip Vacations is franchised by iTRIP, LLC. Its parent company is iTrip Holdco, LLC. The ultimate parent named in the FDD is Smokey Parent, L.P. (c/o Blackstone Inc.). Source: FDD Item 1, 2025 filing.
What is Item 19 in the Itrip Vacations 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 Itrip Vacations FDD and qualifies whose outlets they describe.
What is Itrip Vacations' franchise failure rate?
There is no published franchise failure rate. What is measurable is Itrip Vacations' SBA charge-off rate: 40.0% on 10 resolved loans. Put plainly: 40% SBA 7(a) loans to Itrip Vacations owners charged off (4 of 10 resolved loans, approved since FY1991). The SBA charge-off rate is the share of a brand's resolved SBA 7(a) loans to its franchisees that the SBA wrote off, including purchased guarantees. Resolved means paid in full or charged off; active loans are excluded because their outcome is not yet known. It is a lending outcome, not a count of closed businesses. A franchisee can repay and close, or default and keep trading.
How many Itrip Vacations franchise locations are there?
Per the 2025 FDD, Itrip Vacations has 114 franchised units and 1 company-owned (115 in all). In the latest year, the number of franchised outlets did not change (3 opened, 3 left the franchised system, 3 of them bought back by the franchisor).
Is Itrip Vacations a good franchise to buy?
FranchiseVerdict gives Itrip Vacations a D Verdict grade (Fourth tier) with a verdict score of 31 out of 100 (higher is better), an editorial assessment, not investment advice. Helped by legal record (no litigation naming the franchisor in Item 3) and transparency. The “Why a D” section on this page lists all six dimensions and any adjustment. Speak with current franchisees before making any investment decision.
Other Real Estate franchises
Similar investment first, then by grade
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.