Nan Xiang ExpressFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Nan Xiang Express franchise requires a total initial investment of $448K – $876K, including a $40K franchise fee and an ongoing 5.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $448K – $876K
- 30th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 5.0%
- 7th pct Service Resta…
- Units
- 10
- 21st pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Franchised units fell from 6 to 0 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $448K – $876K including a $40K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict A (Top Quintile) with a risk score of 50/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- NAN XIANG EXPRESS FRANCHISOR LLC
- Parent company
- NXE Holding Corporation
- Ultimate parent
- MVC Flushing LLC
- CEO title
- Chief Executive Officer
- Xing Yan (“Eddie”) Zheng
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- NV
- HQ
- 109 5th Street, Saddle Brook, NJ 07663
- Auditor
- MUHAMMAD ZUBAIRY, CPA PC
- Audited financials
- Franchisor revenue
- $37K
- vs $96K 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.
Affiliated brands
- MG Trading Company
- Nan Xiang Franchisor
- TM Holding
- NXE Trading
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Nan Xiang Express operates quick-service Asian cuisine restaurants (likely dim sum/xiaolongbao-focused based on brand name) with a streamlined counter-service or delivery model. Franchisees manage daily food preparation, inventory, staffing, customer service, and local marketing across a protected territory.
- CEO
- Xing Yan (“Eddie”) Zheng
- Headquarters
- NJ
- Founded
- 2021
- FDD year
- 2025
- States available
- 3
Item 2 · who runs the franchisor
Executive team
Xing Yan "Eddie" Zheng
Chief Executive Officer
5 yrs in role
Founder and President of Shogun Japanese Steakhouse & Sushi Bar Inc. since May 2009. CEO of Ten Hotpot & Tea Trading, LLC since January 2019. CEO of Tsaocaa US, LLC and Tsaocaa US Holding, LLC since January 2019.
Richard Xu
Chief Financial Officer
2 yrs in role
Was not employed between September 2020 and April 2024. Also serves as Chief Financial Officer of affiliate 213 Management Group Inc. in Flushing, New York since May 2024.
FDD Item 7 · 2025 filing · 17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $40K | $40K | |
| Initial Training Feenot refundable | $10K | $10K | |
| Construction and Leasehold Improvements | $200K | $500K | |
| Furniture, Fixtures, and Equipment | $100K | $120K | |
| Signs | $3K | $6K | |
| Technology Systems | $4K | $8K | |
| Initial Supply of Proprietary Itemsnot refundable | $20K | $25K | |
| Other Initial Inventory | $5K | $5K | |
| Rent (3 Months) and Lease Deposits | $40K | $100K | |
| Utility Deposits | $3K | $5K | |
| Insurance Deposits and Premiums | $4K | $9K | |
| Travel and Lodging for Initial Training | $2K | $5K | |
| Grand Opening Advertising | $2K | $5K | |
| Professional Fees | $3K | $5K | |
| Business Licenses and Permits | $5K | $15K | |
| Printing, Stationary, and Office Supplies | $2K | $3K | |
| Additional Funds - First 3 Months of Operation | $6K | $15K | |
| Total initial investment | $448K | $876K |
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
- $448K – $876K
- Better than avg vs category
- Liquid capital req'd
- $6K – $15K
- Better than avg vs category
- Franchise fee
- $40K – $40K
- Better than avg vs category
- Royalty
- 5.0%
- Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $200 |
| Training fee | $10K |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Inventory (initial) | $45K – $60K |
| Total fee load | 6.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Nan Xiang Express Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 10
- Opened
- 4
- 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
- 4
- Corporate units in the system
- % franchised
- 60%
- vs corporate-owned
- Net growth (yr3)
- +200.0%
- Net unit change last year
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 1
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 8 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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- Illinois
- Michigan
- South Dakota
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
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.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Early-stage, undisclosed-financials franchisor with explosive growth claims, no profitability transparency, and potential going concern issues — suitable only for experienced franchisees with high risk tolerance and independent validation capability.
Litigation (Item 3)
No litigation is required to be disclosed in Item 3.
Largest disclosed settlement: $60,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · MUHAMMAD ZUBAIRY, CPA PC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 50 / 100 rating
- 01MINORNo Item 19 financial disclosure (revenue and net income) — impossible to validate ROI claims or unit economics
- 02MINORExplosive 200% YoY unit growth (10 units) suggests either genuine traction or aggressive recruitment with high failure rates; insufficient data to differentiate
- 03HIGHGoing Concern status is FALSE — indicates the franchisor itself may have financial/operational stability concerns
- 04MINORWide investment range ($448k–$875.5k) with no corresponding revenue disclosure creates opacity around actual profitability by investment tier
- 05MEDOnly 10 total units system-wide — extremely small franchise with limited track record and high systemic risk if even 2-3 units fail
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 60 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Saddle Brook, NJ |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 56 hrs
- On-the-job training
- 56 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- joint
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
13 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Nan Xiang Express · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Nan Xiang Express franchise?
The total investment to open a Nan Xiang Express franchise ranges from $448K – $876K, 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 Nan Xiang Express franchise owners earn?
Nan Xiang Express 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 Nan Xiang Express's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Nan Xiang Express (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 Nan Xiang Express franchise locations are there?
As of their most recent FDD filing, Nan Xiang Express has 10 total units in the United States, including 6 franchised units and 4 company-owned units. 4 new units were opened in the latest reporting year.
Is Nan Xiang Express a good franchise to buy?
FranchiseVerdict rates Nan Xiang Express as a A-grade franchise with a risk score of 50 out of 100, 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
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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.