Lighting Squad Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Lighting Squad is a home services franchise providing lighting design, installation, and maintenance for homes and businesses. Franchisees run local operations, managing installs, service, and accounts.
FranchiseVerdict summary · 2026
A Lighting Squad franchise requires a total initial investment of $34K – $119K, including a $25K franchise fee and an ongoing 15.0% royalty[2]. The 2024 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $34K – $119K
- 2nd pct Home Services
- Avg gross sales
- N/A
- 1 outlet
- Royalty
- 15.0%
- 57th pct Home Services
- Units
- 1
- 2nd pct Home Services
- SBA charge-off
- N/A
Quick verdict · Home Services · color = vs category peers
Green = favorable by >10% vs Home Services 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 $34K – $119K including a $25K franchise fee, 15.0% ongoing royalty.
- RETURNSEntity: LIGHTING SQUAD, LLC (a Minnesota S-Corporation), the franchisor. Audited exhibit (Exhibit D) is a BALANCE-SHEET-ONLY audit as of July 31, 2024, for the period then ended, audited by Naper CPA Group (Omar Alnuaimi, CPA, Naperville, IL), opinion dated August 19, 2024. No statement of operations/income statement is included, so revenue and net income are not reported (null). Figures are in whole US dollars (not scaled/thousands). Balance sheet: Total Assets $5,438 (Cash and cash equivalents only); Total Liabilities $0; Total Shareholders'/Owner's Equity (Retained Earnings) $5,438 — reconciles. As an S-Corp the Company has no income-tax provision. This is a newly organized franchisor; only the most recent (and only) period is presented.
- RISKVerdict D (Below average), verdict score 35/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Lighting Squad, LLC
- CEO title
- CEO
- Travis Piepho
- Incorporated in
- MN
- HQ
- 3508 West 22nd Street, Minneapolis, MN 55416
- Auditor
- Naper CPA Group
- Audited financials
Affiliated brands
- has been in business s
- MN Lighting Squad has operated a Lighting Squad
- Prospectr Marketing
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Travis Piepho
- Headquarters
- MN
- Founded
- 2024
- FDD year
- 2024
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 66% below the typical home services franchise.
Source: FDD 2024 · Items 5–7
FDD Item 7 · 2024 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $25K | $25K |
| Working capital (3–6 mo) | $5K | $20K |
| Equipment, build-out, other | $4K | $74K |
| Total initial investment | $34K | $119K |
Source: Lighting Squad 2024 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $34K – $119K
- Top 40% of category vs category
- Liquid capital req'd
- $5K – $20K
- Top 40% of category vs category
- Franchise fee
- $25K – $25K
- Top 40% of category vs category
- Royalty
- 15.0%
- percentage · typical 6–8%
- Ad fund
- 15.0%
- typical 3–5%
- Total fee load
- 22.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 15.0% of gross sales |
| Marketing / ad fund | 15.0% of gross sales |
| Technology fee | $250 |
| Transfer fee | $10K |
| Renewal fee | $0 |
| Inventory (initial) | $1K – $25K |
| Total fee load | 22.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Lighting Squad 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 Lighting Squad unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
-93%
Negative returns. Costs exceed revenue at these inputs
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: 2024 FDD
Financial Performance
Entity: LIGHTING SQUAD, LLC (a Minnesota S-Corporation), the franchisor. Audited exhibit (Exhibit D) is a BALANCE-SHEET-ONLY audit as of July 31, 2024, for the period then ended, audited by Naper CPA Group (Omar Alnuaimi, CPA, Naperville, IL), opinion dated August 19, 2024. No statement of operations/income statement is included, so revenue and net income are not reported (null). Figures are in whole US dollars (not scaled/thousands). Balance sheet: Total Assets $5,438 (Cash and cash equivalents only); Total Liabilities $0; Total Shareholders'/Owner's Equity (Retained Earnings) $5,438 — reconciles. As an S-Corp the Company has no income-tax provision. This is a newly organized franchisor; only the most recent (and only) period is presented.
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 22.0% — above the Home Services average of 8.9%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
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 Home Services averages
How Lighting Squad Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state 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.
1
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
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
Lighting Squad presents extreme risk: single operating unit, undisclosed financials, going concern issues, and no validated revenue/profit data make this a pre-revenue or distressed franchise system.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Naper CPA Group
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 35 / 100 verdict
- 01MINOROnly 1 operating unit despite franchise model — indicates system is pre-revenue or collapsing
- 02HIGHGoing Concern status is FALSE — franchisor may be insolvent or financially unstable
- 03MEDNo Item 19 financial disclosure (Avg Revenue/Net Income not disclosed) — impossible to validate ROI claims
- 04MINORHigh franchise fee ($25,000) + wide investment range ($33,650–$119,000) suggests undefined cost structure
- 05MINORSingle unit with unknown growth trajectory — no proof of concept or replicable model
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 22.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | exclusive |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory population | 500,000 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Minneapolis, Minnesota |
| Governing law | MN |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 27 hrs
- On-the-job training
- 19 hrs
- Training location
- Minneapolis, MN or franchisee's location
- Ongoing training
- Optional
- Time to open
- 1 mo
- From signing to launch
- Site selection
- Franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- QuickBooks
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: QuickBooks
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Lighting Squad franchise?
The total investment to open a Lighting Squad franchise ranges from $34K – $119K, with an initial franchise fee of $25K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Lighting Squad franchise owners earn?
Lighting Squad 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 Lighting Squad 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 Lighting Squad FDD and qualifies whose outlets they describe.
What is Lighting Squad's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Lighting Squad (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 Lighting Squad franchise locations are there?
As of their most recent FDD filing, Lighting Squad has 1 total units in the United States, including 0 franchised units and 1 company-owned units.
Is Lighting Squad a good franchise to buy?
FranchiseVerdict rates Lighting Squad as a D-grade franchise with a verdict score of 35 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
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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.