FranchiseVerdict
Lemon Tree Family Salons logo
FV-01483·STRONGExcellent86

Lemon Tree Family Salons

Personal Services - Beauty & SalonFranchising since 2009Website
Investment
$185K – $278K
32nd pct Beauty & Salon
Avg revenue
$358K
12th pct Beauty & Salon
Royalty
Units
48
51st pct Beauty & Salon
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $185K – $278K including a $35K franchise fee.
  • Average unit revenue of $358K/year.
  • Rated STRONG with a risk score of 51/100. SBA loan default rate of 0.0% across 17 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Lemon Tree Development LLC
Parent company
Lemon Tree Holdings, LLC
Incorporated in
New Jersey
HQ
8 Campus Drive, Suite 105, PMB 1029, Parsippany, New Jersey 07054
Auditor
A&G, LLP
Audited financials
Franchisor revenue
$887K
vs $938K prior year

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 Lemon Tree Family Salons unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $357,825
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: personal services
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $185K–$278K
Working capital
$
FDD reports $30K–$40K

Unlevered ROIC · per unit

28%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$75K
EBITDA margin
21.0%
Total invested
$266K
Payback
43 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Lemon Tree Family Salons units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$1.0M

on $5.0M purchase

Total debt

$4.0M

SBA $2.5M + senior + seller note

Overview

About

Lemon Tree Family Salons operates full-service family salon locations offering haircuts, styling, and related services for all ages. Franchisees manage daily salon operations, staff supervision, customer service, and marketing within their protected territory. Revenue depends on foot traffic conversion, service pricing, and customer retention in a competitive local beauty services market.

CEO
Jonathan Shaw
Founded
2009
FDD year
2026
States available
7

Item 7 · what it costs

The Vitals

Total investment
$185K – $278K
All-in to open one unit
Liquid capital
$30K – $40K
Cash you must have on hand
Franchise fee
$35K
Royalty
the greater of $75 and 6% of Gross Revenue
Ad fund
$135 per week
Total fee load
6.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$358K
Per unit, per year
Median gross sales
Item 19 type
Gross Revenue
Sample size
34 units
vs category median 34
Range (low → high)
$62K$753K
Cohort dispersion
Transparency
3 / 5
vs category median 4 / 5 · below
Revenue rank12th
vs Personal Services - Beauty & Salon peers
Investment cost rank32th
Lower investment ranks lower (better)
Royalty rate rank77th
Lower royalty = lower percentile (better)
Unit count rank51th
vs Personal Services - Beauty & Salon peers
Risk score rank16th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
48
Opened
4
Last reporting year
Closed
2
Turnover rate
4.2%
Company-owned
12
Corporate units in the system
% franchised
75%
vs corporate-owned
Net growth (yr3)
+5.9%
Net unit change last year
3-yr CAGR
+5.9%
Compounded over last 3 years
2024
36+2
Franchised units
2025
34
Franchised units
2026
34
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 7 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 7 states
Not registered

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.

Total loans
17
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

51
Risk · 0-100
STRONG51 / 100

Lemon Tree presents caution-level risk due to missing profitability data, slow growth trajectory, and unclear unit economics that prevent informed investment decisions despite protected territories and no litigation history.

Score breakdown · what drove the 51 / 100 rating

  1. 01MINORNo Net Income disclosure (Item 19) prevents accurate profitability assessment and ROI calculation
  2. 02MINORSlow unit growth of only 5.9% YoY suggests market saturation or franchisee dissatisfaction in a mature 48-unit system
  3. 03MINORHigh initial investment ($184K-$278K) combined with unknown profitability creates significant financial risk
  4. 04MEDRoyalty structure ($75 minimum + 6%) may be burdensome on lower-revenue locations, particularly problematic given undisclosed margins
  5. 05MEDAverage revenue of $357,825 is modest for a salon concept and provides limited cushion for operating expenses

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Radius
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
New Jersey

Item 11

Training & Operations

Classroom training
50 hrs
On-the-job training
28 hrs
POS system
ProPoint Solutions
Operating tech stack

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

40 numbers

Locked
(631) 654-••••
NY
(631) 496-••••
NJ
(516) 536-••••
NY

One-time purchase · CSV download · Validation questions included

FDD download

Lemon Tree Family Salons · FDD (2026) PDF

Single-page checkout · instant download · CSV export of contacts available separately above