Just Between Friends
Bottom line
- Total investment $67K – $98K including a $25K franchise fee.
- Average unit revenue of $376K/year (median $240K).
- Rated STRONG with a risk score of 42/100. SBA loan default rate of 0.0% across 13 loans (below the industry average).
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 Just Between Friends unit return on the cash you put in?
Unlevered ROIC · per unit
63%
Above typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Just Between Friends units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$677K
on $3.4M purchase
Total debt
$2.7M
SBA $1.7M + senior + seller note
Overview
About
Just Between Friends operates consignment-based children's clothing and goods retail locations. Franchisees manage storefront operations including inventory acquisition, customer service, and consignor management. Revenue is generated through commission on consigned items sold, requiring active community engagement and inventory curation.
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 · 23 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
Minimal franchise system growth, undisclosed profitability metrics, and historical officer litigation present meaningful risk despite protected territories and modest initial investment.
Score breakdown · what drove the 42 / 100 rating
- 01MINORStagnant unit growth (0.7% YoY) suggests market saturation or franchisee dissatisfaction despite 151 existing locations
- 02MEDNet income not disclosed in Item 19 prevents ROI analysis; only average revenue ($376k) provided without profitability context
- 03MINORRoyalty structure with $5,250-$10,500 annual minimums creates fixed cost burden even during slow sales months, reducing franchisee flexibility
- 04HIGHOfficer litigation history (Robert Petre/Osage LLC) raises governance and financial management concerns, though cases dismissed
- 05MEDHigh initial investment ($66.6k-$97.5k) relative to disclosed revenue and unknown profitability creates recovery 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
88 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Just Between Friends · FDD (2025) PDF