Bottom line
- Total investment $41K – $46K including a $30K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 64/100. SBA loan default rate of 0.0% across 1 loans (below the industry average).
- System contracting at -7.0% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
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 Lil’ Angels Photography unit return on the cash you put in?
Unlevered ROIC · per unit
233%
Above typical band (30–60%)
Overview
About
Lil' Angels Photography franchisees operate portrait photography studios specializing in children's and family photography sessions. Daily operations include client scheduling, in-studio photo shoots, digital editing, and sales of prints/digital packages. Revenue models typically combine session fees, print sales, and digital product upsells.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 31 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
Shrinking system with opaque financials, non-standard royalty structure, and fee-heavy model creates meaningful uncertainty around unit economics and profitability potential.
Score breakdown · what drove the 64 / 100 rating
- 01MINORDeclining unit count (-2.4% YoY) signals system contraction and potential market saturation
- 02MINORNo Item 19 financial disclosure (avg revenue/net income) prevents accurate ROI modeling and suggests weak performer metrics
- 03MINORUnusual royalty structure ($0.60 per 'equivalent unit') is vague and non-standard; unclear how this translates to actual franchisee costs
- 04MINORHigh franchise fee ($29,500) relative to low total investment range ($41-45K) indicates fee-heavy model with thin operating margins
- 05MINORSmall unit base (40 locations) limits brand recognition, marketing leverage, and support infrastructure stability
- 06MINOR10-year term is longer than industry standard (5-7 years typical), locking franchisees into potentially unfavorable economics
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
56 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Lil’ Angels Photography · FDD (2025) PDF