Nick and Moes
Formerly known as Nick & Moes
Bottom line
- Total investment $254K – $3.2M including a $45K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $10.1M/year.
- Rated MODERATE with a risk score of 60/100.
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 Nick and Moes unit return on the cash you put in?
Unlevered ROIC · per unit
98%
Above typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Nick and Moes units return on equity?
Equity IRR · 5-yr
21.7%
2.67× MOIC
Year-1 DSCR
4.30×
EBITDA ÷ debt service
Equity required
$65.7M
on $101.0M purchase
Total debt
$35.3M
SBA $5.0M + senior + seller note
Overview
About
Nick and Moes franchisees operate what appears to be a casual dining or quick-service restaurant concept. Day-to-day responsibilities include managing front-of-house and kitchen operations, maintaining food quality standards, supervising staff, managing inventory, and driving local marketing to meet average unit volumes around $10.1M annually.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 16 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
Early-stage franchise with minimal operating units, undisclosed profitability metrics, and franchisor going concern issues presenting substantial investment risk.
Score breakdown · what drove the 60 / 100 rating
- 01MEDOnly 6 units system-wide suggests extremely limited track record and viability data for franchisees to validate
- 02MEDNet income not disclosed in FDD Item 19 prevents assessment of actual profitability and return on investment
- 03MINORWide investment range ($253.5K–$3.175M) indicates highly variable unit economics with unclear cost drivers and scalability
- 04HIGHGoing Concern = False status raises questions about franchisor financial stability and long-term support
- 05MINORRoyalty escalation (5% to 6%) combined with no profitability data creates unknown cash flow impact by Year 2
- 06HIGHNo disclosed litigation but micro-system size limits ability to identify historical franchisee disputes or failures
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
17 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Nick and Moes · FDD (2025) PDF