Nick the GreekFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Nick the Greek franchise requires a total initial investment of $415K – $597K, including a $35K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $1.5M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $415K – $597K
- 28th pct Service Resta…
- Avg gross sales
- $1.5M
- 15th pct Service Resta…
- Royalty
- 6.0%
- 26th pct Service Resta…
- Units
- 80
- 40th pct Service Resta…
- SBA default
- 0.0%
- system-wide median varies by category
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
The system grew 17% year-over-year. Fast growth means demand, but can strain support.
Bottom line
- Total investment $415K – $597K including a $35K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $1.5M/year.
- Verdict A (Top Quintile) with a risk score of 14/100.
- System growing at 76.9% CAGR over 3 years with 80 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- NTG Franchising, LLC
- Parent company
- NTG Intermediate Holdings, LLC
- Predecessor
- Taco Cabana
- Prior franchisor entity
- Incorporated in
- CA
- HQ
- 5765 Winfield Blvd., Suite 1, San Jose, California 95123
- Auditor
- Baker Tilly US, LLP
- Audited financials
- Franchisor revenue
- $4.8M
- vs $6.9M prior year
Affiliated brands
- Taco Cabana Franchising
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Nick the Greek franchisees operate Mediterranean fast-casual restaurants serving Greek cuisine (gyros, souvlaki, salads, etc.). Day-to-day operations include food preparation, customer service, inventory management, and staff scheduling in a quick-service format with potential dine-in/takeout/delivery models.
- CEO
- Anil Yadav
- Headquarters
- CA
- Founded
- 2018
- FDD year
- 2025
- States available
- 7
FDD Item 7 · 2025 filing · 16 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $35K | $35K | |
| Rent | $8K | $16K | |
| Lease, Utility & Security Deposits | $9K | $17K | |
| Licenses & Permits | $6K | $23K | |
| Design & Architectural Fees | $9K | $15K | |
| Leasehold Improvements | $193K | $222K | |
| Signage | $5K | $13K | |
| Furniture & Fixtures | $19K | $33K | |
| POS/Computer Back Office System | $8K | $20K | |
| Equipment | $60K | $88K | |
| Professional Services | $2K | $5K | |
| Initial Inventory | $16K | $22K | |
| Insurance | $2K | $4K | |
| Travel & Living Expenses While Training | $5K | $10K | |
| Grand Opening Advertising | $10K | $15K | |
| Additional Funds - 3 Months | $30K | $60K | |
| Total initial investment | $415K | $597K |
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.
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
$145K
10.0% margin
Unlevered ROIC
26%
EBITDA / total invested capital
Payback
3.8 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $415K – $597K
- Better than avg vs category
- Liquid capital req'd
- $30K – $60K
- Better than avg vs category
- Franchise fee
- $28K – $35K
- Better than avg vs category
- Royalty
- 6.0%
- Gross Revenues · 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 | $300 |
| Transfer fee | $18K |
| Renewal fee | $14K |
| Inventory (initial) | $16K – $22K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $1.5M
- Per unit, per year
- Median gross sales
- N/A
- Item 19 type
- Historical Average Unit Volume and Expense Percentages
- Sample size
- 40 units
- vs category median 13 · large
- Range (low → high)
- $1.1M→N/A
- Cohort dispersion (min → max)
- Quartile band
- $1.1M→$1.9M
- Bottom 25% → top 25%
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Transparency
- 6 / 5
- vs category median 4 / 5 · above
Compared against 1264 Full-Service Restaurants brands
vs Full-Service Restaurants averages
How Nick the Greek Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 80
- Opened
- 11
- Last reporting year
- Closed
- 1
- Turnover rate
- 1.3%
- Company-owned
- 11
- Corporate units in the system
- % franchised
- 86%
- vs corporate-owned
- Net growth (yr3)
- +16.9%
- Net unit change last year
- 3-yr CAGR
- +76.9%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 10
- Closed (3yr)
- 59
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 13
- Reacquired (3yr)
- 0
- Franchisor bought back
- Ceased ops
- 2.9%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 7 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
7
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 8 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 8
- Loan volume
- $3.8M
- Median loan
- $250K
- 50th percentile
- Charge-off rate
- 0.0%
- 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)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 5
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Nick the Greek's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 5 lenders with concentration factor
- Per-state charge-off rates across 1 states
- Startup risk premium and job creation velocity
- 5-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Missing profitability disclosure combined with going concern flag creates opacity around franchisee returns; modest growth and small system size warrant detailed validation before committing $414,750+.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $35,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Baker Tilly US, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: No
Score breakdown · what drove the 14 / 100 rating
- 01MEDNet income not disclosed in Item 19 — cannot assess actual profitability or ROI against $414,750-$597,000 investment
- 02HIGHGoing Concern status is 'False' — suggests potential financial instability or operational challenges at franchisor level
- 03MINOR16.9% YoY unit growth is modest for QSR segment — may indicate market saturation, franchisee struggles, or slower-than-expected expansion
- 04MINORAverage revenue of $1.45M against high investment range requires scrutiny — payback period and profit margins unknown
- 05MEDOnly 80 total units — relatively small franchise system with limited data points and economy of scale
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 | 2 |
| Territory type | Radius / Population |
| Protected territory | Yes |
| Territory population | 30,000 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 32 hrs
- On-the-job training
- 168 hrs
- Training location
- On-site and corporate
- Site selection
- joint
- POS system
- Xenial
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Xenial
Item 20 · call current owners
Franchisee Contacts
48 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Nick the Greek · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Nick the Greek franchise?
The total investment to open a Nick the Greek franchise ranges from $415K – $597K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Nick the Greek franchise owners earn?
According to Item 19 of the Nick the Greek FDD, the average gross sales per unit is $1.5M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Nick the Greek's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Nick the Greek (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 Nick the Greek franchise locations are there?
As of their most recent FDD filing, Nick the Greek has 80 total units in the United States, including 9 franchised units and 11 company-owned units. 11 new units were opened in the latest reporting year.
Is Nick the Greek a good franchise to buy?
FranchiseVerdict rates Nick the Greek as a A-grade franchise with a risk score of 14 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.
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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.