FranchiseVerdict
MONKEE’S logo
FV-01673·STRONGExcellent95

Monkee’s

RetailFranchising since 2012Website
Investment
$297K – $535K
72nd pct Retail
Avg revenue
$1.1M
34th pct Retail
Royalty
5.0%
15th pct Retail
Units
57
50th pct Retail
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $297K – $535K including a $60K franchise fee, 5.0% ongoing royalty.
  • Average unit revenue of $1.1M/year (median $848K).
  • Rated STRONG with a risk score of 52/100. SBA loan default rate of 0.0% across 10 loans (below the industry average).
  • System growing at 58.3% CAGR over 3 years with 57 total units — strong expansion trajectory.

Item 1 · who you're contracting with

The Franchisor

Legal entity
Monkee’s Franchising, LLC
Incorporated in
North Carolina
HQ
2522 Reynolda Road, Winston-Salem, North Carolina 27106
Auditor
Bernard Robinson & Company, L.L.P.
Audited financials
Franchisor revenue
$3.9M
vs $4.2M prior year

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 MONKEE’S unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $1,095,749
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: retail
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $297K–$535K
Working capital
$
FDD reports $20K–$45K

Unlevered ROIC · per unit

20%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$88K
EBITDA margin
8.0%
Total invested
$448K
Payback
61 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 MONKEE’S units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$219K

on $1.1M purchase

Total debt

$877K

SBA $0.5M + senior + seller note

Overview

About

MONKEE'S franchisees operate casual dining or quick-service restaurant concepts (specific concept unclear from data). Daily operations likely include food preparation, customer service, inventory management, and staff oversight. Revenue generation centers on food/beverage sales with 5% gross receipts paid to franchisor.

CEO
Deirdre H. Shaw
Founded
2012
FDD year
2025
States available
12

Item 7 · what it costs

The Vitals

Total investment
$297K – $535K
All-in to open one unit
Liquid capital
$20K – $45K
Cash you must have on hand
Franchise fee
$60K
Royalty
5.0%
Gross Receipts · typical 6–8%
Ad fund
2.0%
typical 3–5%
Total fee load
7.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$1.1M
Per unit, per year
Median gross sales
$848K
Item 19 type
Gross Receipts
Sample size
42 units
vs category median 52
Range (low → high)
$222K$3.9M
Cohort dispersion
Transparency
4 / 5
vs category median 3 / 5 · above
Revenue rank34th
vs Retail peers
Investment cost rank72th
Lower investment ranks lower (better)
Royalty rate rank15th
Lower royalty = lower percentile (better)
Unit count rank50th
vs Retail peers
Risk score rank28th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
57
Opened
12
Last reporting year
Closed
1
Turnover rate
1.8%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Net growth (yr3)
+23.9%
Net unit change last year
3-yr CAGR
+58.3%
Compounded over last 3 years
2023
57+11
Franchised units
2024
46
Franchised units
2025
36
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 7 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 7 states
Not registered

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.

Total loans
10
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

52
Risk · 0-100
STRONG52 / 100

MONKEE'S presents caution-level risk due to undisclosed profitability, aggressive growth masking performance data, litigation history, and absence of going concern statement, making ROI validation impossible before investment.

Score breakdown · what drove the 52 / 100 rating

  1. 01MINORNo Net Income disclosure (Item 19) prevents ROI validation despite $1.09M average revenue
  2. 02MINORAggressive unit growth (23.9% YoY) with only 57 units suggests rapid expansion without profitability proof
  3. 03HIGHLitigation history shows franchisor willingness to litigate over license terminations, indicating potential enforcement risk
  4. 04HIGHGoing Concern = False is a critical governance red flag suggesting potential financial instability at corporate level
  5. 05MINORHigh investment-to-average-revenue ratio (27-49%) with unknown profitability creates break-even uncertainty
  6. 06MINORProtected territory claim unverified—no data on territory exclusivity enforcement or actual protection mechanisms

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Radius
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Granted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
1
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
North Carolina

Item 11

Training & Operations

Classroom training
20 hrs
On-the-job training
65 hrs
POS system
Heartland Retail POS
Operating tech stack

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

15 numbers

Locked
(919) 697-••••
Thomas Edward Holland and Elizabeth Holmes Holland
NC
(941) 286-••••
Shaune Goff Freeland
FL
(863) 860-••••
Randall Eugene and Wantina Renee Cash Margaret Billings Krouse Crystal Nicole
FL

One-time purchase · CSV download · Validation questions included

FDD download

MONKEE’S · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above