Mici Handcrafted Italian Franchise Cost, Revenue & Review 2026
- Investment
- $244K – $587K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Under 10 loans (1)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Mici Handcrafted Italian is a fast-casual franchise serving handmade pasta, wood-fired pizza, and Italian dishes. Franchisees run the restaurants, managing food prep, staffing, and counter and dining service.
FranchiseVerdict summary · 2026
A Mici Handcrafted Italian franchise requires a total initial investment of $244K – $587K, including a $45K franchise fee and an ongoing 6.0% royalty[2]. The 2022 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high - issued more than two years ago
Evidence: 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 scored6 of 6 headline figures on this page cite a page of the filing.
Overview
- Investment
- $244K – $587K
- 35th pct Service Resta…
- Avg gross sales
- N/A
- Company-owned onlyNet sales
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 7
- 30th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · 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 $244K – $587K including a $45K franchise fee, 6.0% ongoing royalty.
- RETURNSAn earlier version of this note quoted a dollar figure that APPEARS NOWHERE IN THE FILING - verified in comma, no-comma and period-for-comma form and against a de-punctuated digit stream, across every page. It was our own arithmetic published as the franchisor's disclosure. Item 19 discloses five outlets in one period, so the range is genuine and stays. Recorded: revenue_metric_type says 'operating revenues' where the filing defines NET SALES.
- RISKVerdict C (Average), verdict score 38/100 (higher is better).
- GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 closed); 5 signed but not yet open (Item 20).
- DATAItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Mici Franchising, LLC
- Parent company
- MHI Restaurant Group LLC
- FDD Item 1, page 8 of the 2022 FDD
- CEO title
- Chief Executive Officer
- Elliot Schiffer
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- CO
- HQ
- 2373 Central Park Blvd, Unit 107, Denver, CO 80238
- Auditor
- Kezos & Dunlavy
- Audited financials
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- Elliot Schiffer
- Headquarters
- CO
- Founded
- 2020
- FDD year
- 2022
- States available
- 0
Can you afford it, and what does the money buy?
Entry cost runs 14% below the typical quick-service restaurants franchise.
Source: FDD 2022 · Items 5–7
Full Item 7 breakdown17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $45K | $45K | |
| Small waresnot refundable | $11K | $15K | |
| Furniture, Fixtures & Equipmentnot refundable | $118K | $181K | |
| Audio Video Equipmentnot refundable | $500 | $3K | |
| Restaurant Decorationsnot refundable | $1K | $3K | |
| Computer / POS System & KDS For Kitchen Displaynot refundable | $10K | $14K | |
| Leasehold Improvements (net of landlord tenant allowances)not refundable | $10K | $185K | |
| Signagenot refundable | $8K | $15K | |
| Licensesnot refundable | $6K | $9K | |
| Professional Feesnot refundable | $500 | $4K | |
| Architecture Fees & Permitsnot refundable | $3K | $19K | |
| Office Equipment & Suppliesnot refundable | $800 | $2K | |
| Opening Inventorynot refundable | $6K | $13K | |
| Trainingnot refundable | $3K | $17K | |
| Security Deposits | $0 | $8K | |
| Grand Opening Programnot refundable | $12K | $12K | |
| Additional Funds - 3 Monthsnot refundable | $10K | $44K | |
| Total initial investment | $244K | $587K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $244K – $587K
- Top 40% of category vs category
- Liquid capital req'd
- $10K – $44K
- Top 40% of category vs category
- Franchise fee
- $45K – $45K
- Bottom third — review vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of net sales |
| Technology fee | $25 |
| Training fee | $3K |
| Transfer fee | $23K |
| Renewal fee | $10K |
| Inventory (initial) | $6K – $13K |
| Total fee load | 8.0% of rev |
What do units actually make?
Source: FDD 2022 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Mici Handcrafted Italian is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Mici Handcrafted Italian unit return on the cash you put in?
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.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
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: 2022 FDD
Financial Performance
An earlier version of this note quoted a dollar figure that APPEARS NOWHERE IN THE FILING - verified in comma, no-comma and period-for-comma form and against a de-punctuated digit stream, across every page. It was our own arithmetic published as the franchisor's disclosure. Item 19 discloses five outlets in one period, so the range is genuine and stays. Recorded: revenue_metric_type says 'operating revenues' where the filing defines NET SALES.
Company-owned outlets only - not franchisee performance
Reported as net sales, not gross sales
- Item 19 type
- affiliate locations
- Sample size
- 5 outlets
- vs category median 19 · small
- Range (low → high)
- $1.1M→$1.5MCited, not corroborated — printed on page 43 of the 2022 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2021
- Fiscal year the figures cover
- Source filing
- FDD 2022
- Disclosed in the 2022 filing, covering 2021
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 781 Quick-Service Restaurants brands
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 8.0% (near the Quick-Service Restaurants median).
Disclosure
Item 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
Multi-unit rate
Only 1% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Quick-Service Restaurants medians
How Mici Handcrafted Italian Compares
Category median of published Quick-Service Restaurants 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.
Is the system healthy?
Source: FDD 2022 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 7
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 7
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
- Multi-unit owners
- 1.0%
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 5
- 0.71 per open outlet · Item 20 Table 5
- Projected new
- 4
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $714K
- Median loan
- $714K
- 50th percentile
- Charge-off rate
- Under 10 loans (1)
- Insufficient SBA coverage: 1 loan, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (1)
- 5-yr charge-off
- Under 10 loans (1)
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Mici presents moderate-to-cautionary risk due to micro-system scale, unclear growth prospects, and lack of transparent unit-level financial data despite healthy average metrics.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Kezos & Dunlavy
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 38 / 100 verdict
- 01MINOROnly 7 units systemwide with unknown/stagnant growth trajectory raises expansion viability concerns
- 02MINORHigh investment range ($244K-$587K) paired with modest average net income ($207K) yields 16% ROI at best, creating extended payback period
- 03HIGHAbsence of disclosed litigation combined with 'going concern' status suggests potential undisclosed operational or financial issues
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2022 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 20 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Denver, Colorado |
| Jury trial waiver | Yes |
| Governing law | CO |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 17 hrs
- On-the-job training
- 120 hrs
- Training location
- Denver, Colorado (franchisor's corporate headquarters or another designated location)
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- Site selection
- Franchisee selects, franchisor must approve
- Franchisor financing
- Not offered
- Item 10
- POS system
- Thrive POS and QSROnline
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Thrive POS and QSROnline
Item 20 · call current owners
Franchisee Contacts
4 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Mici Handcrafted Italian franchise?
The total investment to open a Mici Handcrafted Italian franchise ranges from $244K – $587K, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Mici Handcrafted Italian franchise owners earn?
Item 19 of the Mici Handcrafted Italian FDD discloses outlet figures from $1.1M to $1.5M but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Mici Handcrafted Italian?
Mici Handcrafted Italian is franchised by Mici Franchising, LLC. Its parent company is MHI Restaurant Group LLC. Source: FDD Item 1, 2022 filing.
What is Item 19 in the Mici Handcrafted Italian 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 Mici Handcrafted Italian FDD and qualifies whose outlets they describe.
What is Mici Handcrafted Italian's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Mici Handcrafted Italian (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 Mici Handcrafted Italian franchise locations are there?
As of their most recent FDD filing, Mici Handcrafted Italian has 7 total units in the United States.
Is Mici Handcrafted Italian a good franchise to buy?
FranchiseVerdict rates Mici Handcrafted Italian as a C-grade franchise with a verdict score of 38 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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.