MRI Network
Formerly known as HireQuest
Bottom line
- Total investment $2K – $15K including a $0 franchise fee, 1.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated CAUTION with a risk score of 77/100.
- System contracting at -22.6% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
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 MRI Network unit return on the cash you put in?
Unlevered ROIC · per unit
1500%
Above typical band (30–60%)
Overview
About
MRI Network franchisees operate as staffing/recruitment agencies specializing in MRI technician placement and related healthcare staffing services. Franchisees source candidates, match them with client healthcare facilities, and earn placement commissions while paying franchisor royalties and flat service fees regardless of revenue performance.
Item 7 · what it costs
The Vitals
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
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 24 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
MRI Network exhibits high-risk characteristics including rapid unit contraction, litigation history, undisclosed financials, high fixed fees on short terms, and unprotected territories—suggesting a destabilized system with structural incentive misalignment.
Score breakdown · what drove the 77 / 100 rating
- 01MINORUnit count declining 17.3% YoY indicates systematic franchisee failure or attrition
- 02MINORThree concluded legal actions involving breach of contract, royalty disputes, and territory conflicts suggest systemic governance and enforcement issues
- 03MEDNo average revenue or net income disclosure (missing Item 19) prevents realistic ROI assessment on $24K-$48K annual fees
- 04MEDHigh fixed annual fees ($24K-$48K minimum) on undisclosed revenue creates cash flow risk, especially with 1% variable royalty
- 05MINORTerritory not protected despite 205 competing units exposes franchisees to internal competition and encroachment
- 06MINOR3-year term is unusually short, limiting franchisee ability to recoup $2K-$14.5K investment and build equity
- 07HIGHGoing Concern = False raises questions about franchisor's financial stability and long-term viability
- 08MINORZero franchise fee suggests franchisor prioritizes rapid unit growth over quality franchisee screening
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
94 numbers
One-time purchase · CSV download · Validation questions included
FDD download
MRI Network · FDD (2023) PDF