Bottom line
- Total investment $135K – $163K including a $50K franchise fee, 8.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated CAUTION with a risk score of 68/100. SBA loan default rate of 0.0% across 14 loans (below the industry average).
- 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
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 No-H2O unit return on the cash you put in?
Unlevered ROIC · per unit
67%
Above typical band (30–60%)
Overview
About
No-H2O operates waterless/alternative water solution businesses (likely water treatment, conservation technology, or portable water services). Franchisees manage day-to-day operations including equipment maintenance, customer service, sales, and service delivery within their protected territory.
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 · 19 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.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
No-H2O presents extreme risk due to going concern issues, minimal unit base, zero financial transparency, and inability to validate franchise viability.
Score breakdown · what drove the 68 / 100 rating
- 01HIGHGoing Concern status is FALSE — franchisor may have material financial or operational instability
- 02MINOROnly 6 units in system with unknown growth trajectory — extremely small/stagnant franchise with no demonstrated scalability
- 03MINORNo Item 19 financial performance disclosures — impossible to validate ROI claims or typical unit economics
- 04MINORHigh initial investment ($134.5K-$162.5K) with 8% royalty burden but zero revenue benchmarks to assess payback period
- 05MINOR10-year term locks franchisees into long commitment with unproven business model and minimal peer network for support
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
22 numbers
One-time purchase · CSV download · Validation questions included
FDD download
No-H2O · FDD (2022) PDF