FranchiseVerdict
Mr. Appliance logo
FV-01701·MODERATEExcellent91

Mr. Appliance

Formerly known as Chun Yang Tea

Home Services - OtherFranchising since 1996Website
Investment
$117K – $215K
50th pct Other
Avg revenue
64th pct Other
Royalty
5.0%
6th pct Other
Units
310
91st pct Other
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $117K – $215K including a $64K franchise fee, 5.0% ongoing royalty.
  • 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 210 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
MR. APPLIANCE SPV LLC
Parent company
Neighborly Assetco LLC
Incorporated in
Delaware
HQ
1010 North University Parks Drive, Waco, Texas 76707
Auditor
Ernst & Young LLP
Audited financials
Franchisor revenue
$451.9M
vs $461.7M 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 Mr. Appliance unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: restoration
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $117K–$215K
Working capital
$
FDD reports $15K–$30K

Unlevered ROIC · per unit

48%

In Yale's "attractive" band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$90K
EBITDA margin
12.0%
Total invested
$188K
Payback
25 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.

Overview

About

Mr. Appliance franchisees operate mobile appliance repair services, dispatching technicians to residential customer homes to diagnose and repair washers, dryers, dishwashers, refrigerators, and other appliances. Franchisees manage their own technician teams, scheduling, parts inventory, customer billing, and local marketing while paying the franchisor 5-7% royalties and adhering to brand standards and service protocols.

CEO
Michael Anthony Davis
Founded
1996
FDD year
2025
States available
44

Item 7 · what it costs

The Vitals

Total investment
$117K – $215K
All-in to open one unit
Liquid capital
$15K – $30K
Cash you must have on hand
Franchise fee
$64K
Royalty
5.0%
Gross Sales · typical 6–8%
Ad fund
2.0%
typical 3–5%
Total fee load
7.0%
vs 9–13% typical

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

Total units
310
Opened
9
Last reporting year
Closed
8
Turnover rate
2.6%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Net growth (yr3)
-4.6%
Net unit change last year
3-yr CAGR
-4.6%
Compounded over last 3 years
2023
310-15
Franchised units
2024
325
Franchised units
2025
325
Franchised units

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

Item 20 · 14 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 · 14 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
210
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

64
Risk · 0-100
MODERATE64 / 100

Mr. Appliance is a contracting franchise system with active fraud litigation, regulatory violations, undisclosed financials, and franchisor going concern issues—presenting material risk to new franchisees.

Score breakdown · what drove the 64 / 100 rating

  1. 01MEDSystem contracting sharply: -4.6% unit decline YoY suggests deteriorating franchisee performance and retention
  2. 02HIGHGoing concern status is FALSE, indicating potential financial instability at franchisor level
  3. 03HIGHMultiple litigation cases including fraud allegations (KB Industries et al.) and breach of contract disputes signal operational/support conflicts
  4. 04MINORNo Item 19 (financial performance) disclosure prevents validation of $116.5K-$214.8K investment ROI claims
  5. 05MINORAdministrative compliance violations in California and Kansas demonstrate regulatory and operational control issues
  6. 06MINORRelatively high franchise fee ($63,750) combined with 5-7% royalties creates high break-even threshold for declining system

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
Population-based
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
4
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
Texas

Item 11

Training & Operations

Classroom training
72 hrs
On-the-job training
8 hrs
POS system
SmartWare
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

89 numbers

Locked
(754) 220-••••
FL
(480) 855-••••
AZ
(720) 868-••••
CO

One-time purchase · CSV download · Validation questions included

FDD download

Mr. Appliance · FDD (2025) PDF

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