Oath Pizza Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Oath Pizza is a fast-casual franchise serving grilled, seared-crust personal pizzas with fresh toppings. Franchisees run the restaurants, managing made-to-order prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Oath Pizza franchise requires a total initial investment of $380K – $550K, including a $30K franchise fee and an ongoing 5.5% royalty[2]. The 2023 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2023 FDD issuance
Overview
- Investment
- $380K – $550K
- 63rd pct Service Resta…
- Avg gross sales
- N/A
- Company-owned only
- Royalty
- 5.5%
- 42nd pct Service Resta…
- Units
- 30
- 56th pct Service Resta…
- SBA charge-off
- N/A
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 $380K – $550K including a $30K franchise fee, 5.5% ongoing royalty.
- RETURNSThe only franchised disclosure is one restaurant, at a Nontraditional Location the FDD says is 'not similar to the Oath Pizza restaurants that you will operate' ($295,645 for FY2021; $304,514 for FY2022). The figure previously shown was the average of six CORPORATE restaurants. Separately, this figure comes from a February 2023 amendment reporting FY2021 while a July 2023 filing reporting FY2022 exists.
- RISKVerdict D (Below average), verdict score 31/100 (higher is better).
- DECLINESystem contracting at -58.2% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Oath Franchising, LLC
- Parent company
- New Oath Pizza, LLC
- Ultimate parent
- New Oath Pizza, LLC (NOP)
- CEO title
- President and Chief Executive Officer
- Drew Kellogg
- Incorporated in
- DE
- HQ
- 2093 Philadelphia Pike #2554, Claymont, Delaware 19703
Overview
About
- CEO
- Drew Kellogg
- Headquarters
- DE
- Founded
- 2018
- FDD year
- 2023
- States available
- 15
Can you afford it, and what does the money buy?
Entry cost runs 29% below the typical quick-service restaurants franchise.
Source: FDD 2023 · Items 5–7
Full Item 7 breakdown27 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Application Fee and Initial Franchise Feenot refundable | $30K | $30K | |
| Lease Deposit | $4K | $10K | |
| Lease (3 months) | $12K | $30K | |
| Utility Deposits | $1K | $3K | |
| Licenses and Permits | $2K | $4K | |
| Architects and Design | $18K | $29K | |
| Leasehold Improvements | $147K | $214K | |
| Exterior Signs | $8K | $12K | |
| Furniture and Fixtures | $13K | $19K | |
| POS/Back Office Technology and Software | $4K | $4K | |
| Equipment, Smallwares, and Security Systems | $90K | $90K | |
| Professional Fees | $4K | $11K | |
| Initial Food Inventory | $5K | $7K | |
| Initial Supplies and Non-Food Inventory | $1K | $2K | |
| Insurance | $3K | $4K | |
| Training Expenses | $6K | $8K | |
| Grand Opening Marketing Program | $13K | $15K | |
| Additional Funds - 3 Months (Working Capital) | $20K | $60K | |
| Lease (3 months) - Nontraditional Location | $6K | $30K | |
| Architects and Design - Nontraditional Location | $12K | $24K | |
| Total initial investment | $543K | $1.0M |
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
- $380K – $550K
- Middle of category vs category
- Liquid capital req'd
- $20K – $60K
- Top 40% of category vs category
- Franchise fee
- $30K – $30K
- Top 40% of category vs category
- Royalty
- 5.5%
- percentage · typical 6–8%
- Ad fund
- 2.5%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.5% of gross sales |
| Marketing / ad fund | 2.5% of gross sales |
| Technology fee | $40 |
| Training fee | $8K |
| Transfer fee | $23K |
| Renewal fee | $5K |
| Inventory (initial) | $5K – $7K |
| Total fee load | 8.0% of rev |
What do units actually make?
Source: FDD 2023 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Oath Pizza did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Oath Pizza unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
21%
Below the 30–60% attractive-franchise band
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: 2023 FDD
Financial Performance
The only franchised disclosure is one restaurant, at a Nontraditional Location the FDD says is 'not similar to the Oath Pizza restaurants that you will operate' ($295,645 for FY2021; $304,514 for FY2022). The figure previously shown was the average of six CORPORATE restaurants. Separately, this figure comes from a February 2023 amendment reporting FY2021 while a July 2023 filing reporting FY2022 exists.
Company-owned outlets only - not franchisee performance
- Item 19 type
- revenue and expenses
- Sample size
- 6
- vs category median 20 · small
- Range (low → high)
- $652K→$1.1M
- Cohort dispersion (min → max)
- Reporting year
- 2021
- Fiscal year the figures cover
- Source filing
- FDD 2023
- Disclosed in the 2023 filing, covering 2021
- Transparency
- 6 / 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.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants average).
Disclosure
Item 19 reports revenue and expenses rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
System contracting at -58.2% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
Multi-unit rate
33% of franchisees own multiple units, a moderate multi-unit rate.
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 Oath Pizza Compares
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 30
- Opened
- 0
- Last reporting year
- Closed
- 21
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 91.3%
- Company-owned
- 7
- Corporate units in the system
- % franchised
- 77%
- vs corporate-owned
- Multi-unit owners
- 33.3%
- Net growth (3-yr)
- -58.2%
- Net unit change over 3 years
- 3-yr CAGR
- -58.2%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 21
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 6
- Franchisor's next-year forecast
- Continuity rate
- 52.3%
- Units that stayed open
- Ceased ops
- 76.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 5 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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- $370K
- Median loan
- $345K
- 50th percentile
- Charge-off rate
- N/A
- limited sample (2 loans) — rate not shown below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Oath Pizza exhibits critical distress signals: 48% unit decline, going concern doubts, undisclosed profitability, and high investment requirements—indicating a contracting system with questionable long-term viability.
Litigation (Item 3)
No litigation is required to be disclosed in this Item.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 31 / 100 verdict
- 01MINORUnit count collapsed 47.7% year-over-year (30 units remaining) indicating severe system contraction and franchisee failures
- 02HIGHGoing Concern status is FALSE, suggesting auditor doubts about franchisor's financial viability and ability to support franchise system
- 03MINORHigh initial investment ($380k-$550k) paired with 5.5% royalty creates significant capital risk with unclear payback timeline
- 04MEDDramatic unit decline suggests widespread franchisee dissatisfaction, operational challenges, or market rejection
- 05MINORMinimal franchise fee ($30k) may indicate franchisor financial stress or inability to attract quality franchisees
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 2023 · 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 | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Delaware |
| Jury trial waiver | No |
| Governing law | DE |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in this Item.
Items 10, 11
Training & Operations
- Classroom training
- 9 hrs
- On-the-job training
- 36 hrs
- Training location
- Corporate Restaurant location
- Ongoing training
- Required
- Time to open
- 3 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- Toast POS System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast POS System
Item 20 · call current owners
Franchisee Contacts
6 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Oath Pizza · FDD (2023) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Oath Pizza franchise?
The total investment to open a Oath Pizza franchise ranges from $380K – $550K, with an initial franchise fee of $30K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Oath Pizza franchise owners earn?
Oath Pizza 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 Item 19 in the Oath Pizza 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 Oath Pizza FDD and qualifies whose outlets they describe.
What is Oath Pizza's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Oath Pizza (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 Oath Pizza franchise locations are there?
As of their most recent FDD filing, Oath Pizza has 30 total units in the United States, including 23 franchised units and 7 company-owned units.
Is Oath Pizza a good franchise to buy?
FranchiseVerdict rates Oath Pizza as a D-grade franchise with a verdict score of 31 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?
If you represent Oath Pizza, you can request corrections or provide updated information.
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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.