Modern Market Eatery Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Modern Market Eatery is a fast-casual franchise serving made-from-scratch bowls, salads, sandwiches, and pizzas with a healthy focus. Franchisees run the restaurants, managing fresh prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Modern Market Eatery franchise requires a total initial investment of $929K – $1.5M, including a $40K franchise fee and an ongoing 5.0% royalty[2]. The 2024 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $929K – $1.5M
- 93rd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 11th pct Service Resta…
- Units
- 26
- 54th 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 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 $929K – $1.5M including a $40K franchise fee, 5.0% ongoing royalty.
- RETURNSMean of all three FRANCHISED restaurants' gross sales for the trailing twelve months ended 1 October 2023 — $3,070,654, $2,848,629 and $2,630,322 (printed p.48). The FDD prints them individually and publishes no franchised average, so this is derived across the complete disclosed franchised population. The figure it replaces, $2,232,664, was Table 2 — the eighteen COMPANY-OWNED restaurants (printed p.49). Three outlets is a thin base.
- RISKVerdict A (Strongest tier), verdict score 59/100 (higher is better).
- DATAItem 19 reports gross sales and profit-and-loss statements rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Modern Market Franchising, LLC
- Parent company
- ModMarket, LLC
- Ultimate parent
- New MRC Holdings, LLC (majority owned by Butterfly Equity LP)
- CEO title
- Chief Executive Officer
- John C. Cywinski
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- DE
- HQ
- 3001 Brighton Blvd., Suite 701, Denver, CO 80216
- Auditor
- Plante & Moran, PLLC
- Audited financials
- Franchisor revenue
- $524K
- vs $42K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- John C. Cywinski
- Headquarters
- CO
- Founded
- 2019
- FDD year
- 2024
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 82% above the typical quick-service restaurants franchise.
Source: FDD 2024 · Items 5–7
Full Item 7 breakdown22 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Franchise Feenot refundable | $40K | $40K | |
| Lease Deposit | $5K | $30K | |
| Licenses and Permits | $3K | $5K | |
| Architects and Design | $18K | $40K | |
| Construction/Leasehold Improvements | $520K | $700K | |
| Graphics and Signage | $20K | $40K | |
| Kitchen Equipment | $120K | $220K | |
| Furniture, Fixtures | $75K | $150K | |
| Computer and Security Equipment | $25K | $35K | |
| Uniforms | $2K | $4K | |
| Professional Fees | $2K | $5K | |
| Opening Inventory | $10K | $20K | |
| Smallwares | $20K | $25K | |
| Pre-Opening Labor | $10K | $20K | |
| Insurance Deposits | $4K | $6K | |
| Manager In Training | $10K | $40K | |
| Grand Opening Marketing | $15K | $40K | |
| Site Selection Assistance Feenot refundable | $0 | $500 | |
| Miscellaneous Opening Costs | $0 | $9K | |
| Additional Funds - 3 months working capital | $30K | $40K | |
| Total initial investment | $1.0M | $1.5M |
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
- $929K – $1.5M
- Bottom third — review vs category
- Liquid capital req'd
- $30K – $40K
- Middle of category vs category
- Franchise fee
- $40K – $40K
- Middle of category vs category
- Royalty
- 5.0%
- percentage · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
- Payback period
- 12.1 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Transfer fee | $20K |
| Renewal fee | $15K |
| Inventory (initial) | $10K – $20K |
| Total fee load | 6.0% of rev |
What do units actually make?
Source: FDD 2024 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings vs. model
The FDD reports $180K as Restaurant EBITDA (adjusted for Royalty, Brand Fund, and Local Advertising).
Modern Market Eatery 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 Modern Market Eatery unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
10%
Below the 30–60% attractive-franchise band
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
Mean of all three FRANCHISED restaurants' gross sales for the trailing twelve months ended 1 October 2023 — $3,070,654, $2,848,629 and $2,630,322 (printed p.48). The FDD prints them individually and publishes no franchised average, so this is derived across the complete disclosed franchised population. The figure it replaces, $2,232,664, was Table 2 — the eighteen COMPANY-OWNED restaurants (printed p.49). Three outlets is a thin base.
- Item 19 type
- gross sales and profit-and-loss statements
- Sample size
- 3
- vs category median 20 · small
- Range (low → high)
- $2.6M→$3.1M
- Cohort dispersion (min → max)
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2024
- Disclosed in the 2024 filing, covering 2023
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 782 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 6.0% — below the Quick-Service Restaurants average of 7.9%.
Disclosure
Item 19 reports gross sales and profit-and-loss statements rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
Net unit growth of +100.0% over 3 years (0 opened, 0 closed).
Multi-unit rate
50% of franchisees own multiple units, a moderate multi-unit rate.
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 averages
How Modern Market Eatery Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 26
- 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
- 0.0%
- Company-owned
- 23
- Corporate units in the system
- % franchised
- 12%
- vs corporate-owned
- Multi-unit owners
- 50.0%
- Net growth (3-yr)
- +100.0%
- Net unit change over 3 years
3-year detail · Item 20
- Opened (3yr)
- 3
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 8
- Franchisor's next-year forecast
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)
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
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
Modern Market Eatery presents CAUTION-level risk: a micro-franchise system with undisclosed unit performance data, franchisor financial uncertainty, and high capital requirements relative to reported profitability.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $40,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Plante & Moran, PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 59 / 100 verdict
- 01MINOROnly 26 units with unknown growth trajectory - extremely small system raises sustainability and support infrastructure concerns
- 02HIGHGoing Concern status is False - suggests potential financial instability at franchisor level
- 03MEDHigh initial investment ($928.5K-$1.47M) relative to disclosed net income (8-19% ROI) creates extended payback period risk
- 04MED5% royalty plus operating costs in QSR sector could compress margins below disclosed averages
- 05MEDNo disclosed litigation but small unit count and lack of financial transparency limits due diligence confidence
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% 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 | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 2 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 | 3 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | No |
| Arbitration location | Denver, Colorado |
| Jury trial waiver | Yes |
| Governing law | CO |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 63 hrs
- On-the-job training
- 297 hrs
- Training location
- Certified Training Restaurant in Denver, Colorado area
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
3 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Modern Market Eatery · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Modern Market Eatery franchise?
The total investment to open a Modern Market Eatery franchise ranges from $929K – $1.5M, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Modern Market Eatery franchise owners earn?
Modern Market Eatery 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 Modern Market Eatery 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 Modern Market Eatery FDD and qualifies whose outlets they describe.
What is Modern Market Eatery's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Modern Market Eatery (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 Modern Market Eatery franchise locations are there?
As of their most recent FDD filing, Modern Market Eatery has 26 total units in the United States, including 3 franchised units and 23 company-owned units.
Is Modern Market Eatery a good franchise to buy?
FranchiseVerdict rates Modern Market Eatery as a A-grade franchise with a verdict score of 59 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
Are you the franchisor?
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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.