Miller’s Famous Sandwiches
Bottom line
- Total investment $336K – $691K including a $30K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $2.0M/year.
- Rated CAUTION with a risk score of 69/100.
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 Miller’s Famous Sandwiches unit return on the cash you put in?
Unlevered ROIC · per unit
59%
In Yale's "attractive" band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Miller’s Famous Sandwiches units return on equity?
Equity IRR · 5-yr
30.1%
3.73× MOIC
Year-1 DSCR
2.67×
EBITDA ÷ debt service
Equity required
$8.4M
on $19.1M purchase
Total debt
$10.7M
SBA $5.0M + senior + seller note
Overview
About
Franchisees operate sandwich shop locations serving premium/specialty sandwiches, likely handling food preparation, customer service, inventory management, and day-to-day P&L responsibility. The business model depends on foot traffic, food quality consistency, and local marketing execution across a protected territory.
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 · 5 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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
This is a high-risk micro-franchise with only 2 units, no financial performance disclosure, and 'Going Concern = False' status, indicating serious franchisor stability concerns despite low litigation history.
Score breakdown · what drove the 69 / 100 rating
- 01MEDOnly 2 franchised units — critically small system with no disclosed growth trajectory suggests stagnant or failing franchise model
- 02HIGHGoing Concern = False indicates franchisor financial distress or operational viability problems
- 03MINORNo Item 19 (financial performance representations) — cannot verify if $2.0M avg revenue is achievable or sustainable for franchisees
- 04MEDHigh investment range ($335.5K–$690.5K) with undisclosed net income creates opacity around actual profitability and ROI
- 05MINORExtreme unit concentration risk: only 2 locations means any closure materially damages franchise credibility and franchisor support capability
- 06HIGHNo litigation disclosed but Going Concern status suggests underlying legal or operational issues not surfaced
- 07MINOR10-year term is long commitment to unproven system with minimal track record or peer validation
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
8 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Miller’s Famous Sandwiches · FDD (2023) PDF