Nautical Bowls Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Nautical Bowls is a fast-casual franchise serving superfood acai and smoothie bowls with a coastal theme. Franchisees run compact shops managing bowl assembly, fresh inventory, and counter service.
FranchiseVerdict summary · 2026
A NAUTICAL BOWLS franchise requires a total initial investment of $222K – $409K, including a $40K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $357K[2]. SBA 7(a) loans show a 3.0% charge-off rate across 67 loans[1]. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $222K – $409K
- 31st pct Service Resta…
- Avg gross sales
- $357K
- 1st pct Service Resta…
- Royalty
- 6.0%
- 46th pct Service Resta…
- Units
- 72
- 72nd pct Service Resta…
- SBA charge-off
- 3.0%
- % of SBA 7(a) loans not repaid · median varies by category
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 $222K – $409K including a $40K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $357K/year (median $365K).
- RISKVerdict C (Average), verdict score 39/100 (higher is better). SBA loan charge-off rate of 3.0% across 67 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- FLAGAuditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Nautical Bowls Franchising, LLC
- Parent company
- None
- Predecessor
- or parent company
- Prior franchisor entity
- CEO title
- CEO
- Bryant Amundson
- Incorporated in
- Texas
- HQ
- 3432 County Road 101, Minnetonka, Minnesota 55345
- Auditor
- DNJ & Associates, Certified Public Accountants
- Audited financials
- Franchisor revenue
- $1.1M
- vs $933K prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
- CEO
- Bryant Amundson
- Headquarters
- Minnesota
- Founded
- 2020
- FDD year
- 2025
- States available
- 17
Can you afford it, and what does the money buy?
Entry cost runs 52% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown18 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $40K | $40K | |
| Lease Security Deposit | $3K | $20K | |
| Rent | $2K | $7K | |
| Architect and Permitting Fees | $13K | $20K | |
| Water, sewer, and Municipality Impact Fees | $0 | $20K | |
| Leasehold Improvements | $103K | $203K | |
| Signage | $6K | $14K | |
| Fixtures, Furniture, and Equipment | $32K | $40K | |
| POS System | $1K | $3K | |
| Back Office Computer Hardware and Software | $1K | $1K | |
| Smallwares, Uniforms, and Initial Supplies | $3K | $3K | |
| Utility Deposits | $500 | $600 | |
| Professional Services | $3K | $5K | |
| Initial Inventory | $8K | $8K | |
| Insurance | $2K | $3K | |
| Training Expenses | $1K | $3K | |
| Grand Opening Advertising | $1K | $5K | |
| Additional Funds - Three months | $5K | $15K | |
| Total initial investment | $222K | $409K |
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
- $222K – $409K
- Top 40% of category vs category
- Liquid capital req'd
- $20K – $30K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Middle of category vs category
- Royalty
- 6.0%
- percentage · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $199 |
| Training fee | $3K |
| Transfer fee | $15K |
| Renewal fee | $3K |
| Inventory (initial) | $8K – $10K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 70% below the quick-service restaurants norm.
Source: FDD 2025 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$50K
14.0% margin
Unlevered ROIC
15%
EBITDA / total invested capital
Payback
6.8 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one NAUTICAL BOWLS unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
15%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 NAUTICAL BOWLS units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$500K
on $2.5M purchase
Total debt
$2.0M
SBA $1.3M + senior + seller note
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: 2025 FDD
Financial Performance
- Avg gross sales
- $357K
- Per unit, per year
- Median gross sales
- $365K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- average net sales by tier
- Sample size
- 43 outlets
- vs category median 20 · large
- Range (low → high)
- $154K→$723K
- Cohort dispersion (min → max)
- Transparency tier
- limited
- Categorical assessment of disclosure depth
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2023
- Transparency
- 9 / 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.
Unit economics
Average unit generates $357K/year in gross sales. Revenue-to-investment ratio: 1.1x.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants average).
Disclosure
Transparency score 9/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 180.0% CAGR over 3 years across 72 units — operators are staying and new ones are joining.
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 Nautical Bowls Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 72
- Opened
- 39
- Last reporting year
- Closed
- 7
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 12.9%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 97%
- vs corporate-owned
- Net growth (3-yr)
- +180.0%
- Net unit change over 3 years
- 3-yr CAGR
- +180.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 39
- Closed (3yr)
- 7
- Terminated (3yr)
- 1
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 4
- Reacquired (3yr)
- 3
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 17 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.
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.
- Total loans
- 67
- Loan volume
- $17.5M
- Median loan
- $306K
- 50th percentile
- Charge-off rate
- 3.0%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 97.0%
- 5-yr charge-off
- 20.0%
- Loans approved 2021+
- Active lenders
- 25
- Defaults
- 2
- Typical loan rate
- 9.4%
- avg rate to borrowers
- Franchised industry avg
- 10.8%
- brand beats franchise avg ↓
- Jobs supported
- 1,477
- 8.4 per loan
- Lender concentration
- 49%
- top lender's share
Borrower mix: 96% went to startups / new businesses, 4% to established operators
Franchise vs independent — in limited-service restaurants, franchised businesses charge off at 10.8% vs 10.0% for independents — franchising is associated with 8% higher SBA default risk in this category.
Top lenders financing Nautical Bowls franchisees
Showing 3 of 25 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Nautical Bowls's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 6-year lending trend
Instant access. No subscription.
What could kill this investment?
The auditor flagged going-concern doubt (Item 21) — the single biggest risk here.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Nautical Bowls presents high-risk investment profile due to active multi-party litigation alleging fraud and misrepresentation, false going concern status, and marginal unit-level economics that may not support corporate royalties and profitability targets.
Litigation (Item 3)
Three former-franchisee lawsuits alleging state franchise/deceptive-trade-practices violations, fraud, negligent misrepresentation, and breach of contract in connection with franchise sales. Kirin Hawley case settled September 2025 for $75,000 (dismissed with prejudice). Bright Beacon, Inc. case settled August 2025 for $50,000 (dismissed with prejudice). Cheryl Hatfield case remains pending (pre-trial stage) as of the issuance date.
Largest disclosed settlement: $75,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · DNJ & Associates, Certified Public Accountants⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 39 / 100 verdict
- 01HIGHThree active lawsuits filed December 2023 alleging fraud, misrepresentation, and deceptive trade practices by former franchisees
- 02HIGHGoing Concern designation is FALSE, indicating potential financial instability at corporate level
- 03MINORNet income of $79,712 on $440,000 average revenue (18.1% margin) may be insufficient to cover $26,550 annual royalties (6% of revenue) plus other operating expenses
- 04HIGHAggressive unit growth (121.4% YoY) during period of active litigation suggests potential quality control issues or desperation to recruit
- 05MINORHigh investment range ($222,250–$409,350) combined with modest profitability creates extended payback period and elevated financial risk
- 06HIGHFranchise fee of $39,500 is non-recoverable in context of litigation and going concern status
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| 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 | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 10 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | City where franchisor's principal business office is located (Minnetonka, Minnesota) at the time mediation/arbitration occurs |
| Jury trial waiver | No |
| Governing law | Texas |
| Litigation count | 3 |
View Item 3 litigation summary
Three former-franchisee lawsuits alleging state franchise/deceptive-trade-practices violations, fraud, negligent misrepresentation, and breach of contract in connection with franchise sales. Kirin Hawley case settled September 2025 for $75,000 (dismissed with prejudice). Bright Beacon, Inc. case settled August 2025 for $50,000 (dismissed with prejudice). Cheryl Hatfield case remains pending (pre-trial stage) as of the issuance date.
Items 10, 11
Training & Operations
- Classroom training
- 12 hrs
- On-the-job training
- 10 hrs
- Training location
- Minnetonka, Minnesota (designated training facility)
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- Franchisee identifies site within Site Selection Area, subject to franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Leased POS system (~$600/month)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Leased POS system (~$600/month)
Item 20 · call current owners
Franchisee Contacts
35 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
NAUTICAL BOWLS · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a NAUTICAL BOWLS franchise?
The total investment to open a NAUTICAL BOWLS franchise ranges from $222K – $409K, 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 NAUTICAL BOWLS franchise owners earn?
According to Item 19 of the NAUTICAL BOWLS FDD, the average gross sales per unit is $357K. The median is $365K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the NAUTICAL BOWLS 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 NAUTICAL BOWLS FDD and qualifies whose outlets they describe.
What is NAUTICAL BOWLS's franchise failure rate?
Based on SBA 7(a) loan data, NAUTICAL BOWLS has a charge-off rate of 3.0% across 67 loans, meaning 3.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many NAUTICAL BOWLS franchise locations are there?
As of their most recent FDD filing, NAUTICAL BOWLS has 72 total units in the United States, including 70 franchised units and 2 company-owned units. 39 new units were opened in the latest reporting year.
Is NAUTICAL BOWLS a good franchise to buy?
FranchiseVerdict rates NAUTICAL BOWLS as a C-grade franchise with a verdict score of 39 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.