Pet Evolution Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Pet Evolution is a pet franchise offering dog grooming, self-serve wash, and natural pet food and supplies. Franchisees run the stores, managing groomers, wash bays, and retail.
FranchiseVerdict summary · 2026
A Pet Evolution franchise requires a total initial investment of $143K – $896K. The 2025 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 0.0% charge-off rate across 16 loans[1]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $143K – $896K
- 37th pct Pet Services
- Avg gross sales
- N/A
- Royalty
- N/A
- Units
- 22
- 54th pct Pet Services
- SBA charge-off
- 0.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Pet Services · color = vs category peers
Green = favorable by >10% vs Pet Services 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 $143K – $896K.
- RETURNSFY2024 Total Revenues comprise Franchise Fees $157,083; Regional Developer Fees $516,521; Royalties $439,029; Other, Net $233,598. Audited by CliftonLarsonAllen LLP; 2022 figures restated to retrospectively correct a revenue recognition error.
- RISKVerdict B (Above average), verdict score 50/100 (higher is better). SBA loan charge-off rate of 0.0% across 16 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHSystem growing at 69.2% CAGR over 3 years with 22 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Pet Evolution Franchising LLC
- Parent company
- None
- Predecessor
- Pet Evolution, LLC
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Rian Thiele
- CEO experience
- 2021 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- DE
- HQ
- 330 Mill Bay South Suite 2101A, Afton, Minnesota 55001
- Auditor
- CliftonLarsonAllen LLP
- Audited financials
- Franchisor revenue
- $1.3M
- vs $679K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Affiliated brands
- of ours
- Fetchin Brands
- Cloud Evo
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Rian Thiele
- Headquarters
- MN
- Founded
- 2021
- FDD year
- 2025
- States available
- 14
Can you afford it, and what does the money buy?
Entry cost runs 26% below the typical pet services franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown9 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Feenot refundable | $78K | $650K | |
| Vehiclenot refundable | $0 | $60K | |
| Real Estate and Improvementsnot refundable | $0 | $10K | |
| Equipment and Initial Suppliesnot refundable | $2K | $5K | |
| Travel and Living Expenses While Trainingnot refundable | $0 | $500 | |
| Professional Feesnot refundable | $5K | $10K | |
| Franchise Development Marketingnot refundable | $6K | $8K | |
| Insurancenot refundable | $2K | $3K | |
| Additional Funds and Working Capital for First 3 Monthsnot refundable | $50K | $150K | |
| Total initial investment | $143K | $896K |
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
- $143K – $896K
- Top 40% of category vs category
- Liquid capital req'd
- $50K – $150K
- Bottom third — review vs category
- Franchise fee
- N/A
- Paid to franchisor at signing
- Royalty
- No royalty paid by regional developer to franchisor. Inst…
- Ad fund
- No advertising or marketing fund for regional developers.…
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Technology fee | $750 |
| Training fee | $750 |
| Transfer fee | $25K |
| Renewal fee | $2K |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Pet Evolution 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 Pet Evolution unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
17%
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: 2025 FDD
Financial Performance
FY2024 Total Revenues comprise Franchise Fees $157,083; Regional Developer Fees $516,521; Royalties $439,029; Other, Net $233,598. Audited by CliftonLarsonAllen LLP; 2022 figures restated to retrospectively correct a revenue recognition error.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
System expanding at 69.2% CAGR over 3 years across 22 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 Pet Services averages
How Pet Evolution Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 22
- Opened
- 2
- Last reporting year
- Closed
- 0
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.5%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +69.2%
- Net unit change over 3 years
- 3-yr CAGR
- +69.2%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 2
- Closed (3yr)
- 0
- Terminated (3yr)
- 1
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 3
- Franchisor's next-year forecast
- Ceased ops
- 4.5%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 14 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.
14
states with franchisees (per FDD Item 12)
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
- 16
- Loan volume
- $10.7M
- Median loan
- $718K
- 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
- 9
- Defaults
- 0
- Typical loan rate
- 9.6%
- avg rate to borrowers
- vs industry
- 0.0%
- brand is above its industry ↑
- Jobs supported
- 334
- 3.1 per loan
- Lender concentration
- 31%
- top lender's share
Borrower mix: 88% went to startups / new businesses, 12% to established operators
Top lenders financing Pet Evolution franchisees
Showing 3 of 9 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 Pet Evolution's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 9 lenders with concentration factor
- Per-state charge-off rates across 7 states
- Startup risk premium and job creation velocity
- 4-year lending trend
Instant access. No subscription.
With a 0.0% charge-off rate across 16 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Pet Evolution presents high investment risk due to active fraud litigation, undisclosed financial metrics, stagnant unit growth, territorial vulnerability, and potential franchisor financial distress.
Litigation (Item 3)
One active case: AGDG Investments LLC and Fufu & Tommy LLC v. Pet Evolution Franchising LLC, Peter Carlson, Fred Macciocchi, Rian Thiele (Superior Court of California, Orange County, Case No. 30-2024-01437355-CU-BC-CJC). Former franchisees allege misrepresentations in offer and sale of unit and regional development franchise regarding sales volume, earnings, required investments, and other aspects in violation of California Franchise Investment Law, common law fraud, breach of contract, and unfair competition. Defendants filed a Demurrer on May 13, 2025.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · CliftonLarsonAllen LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- 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 50 / 100 verdict
- 01HIGHActive litigation alleging fraud, misrepresentation of sales/earnings, and violations of California Franchise Investment Law — indicates potential systemic disclosure failures
- 02MEDNo Item 19 (Financial Performance Representations) disclosed — unable to verify claimed profitability or validate investment ROI
- 03MINORMinimal unit growth (4.8% YoY on only 22 units) suggests weak franchisee recruitment, retention, or system health
- 04MINORWide investment range ($142.5K–$896K) with no corresponding revenue/profit disclosure creates opacity around actual unit economics
- 05MINORUnprotected territory exposes franchisees to cannibalization and competition from other franchisees and company-owned locations
- 06MINORUnknown royalty structure — unable to calculate true net margins; high upside fees could erode profitability
- 07HIGHGoing Concern = False — potential financial instability at franchisor level raises questions about support, technology, and brand viability
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
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 | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Not allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | No |
| Arbitration location | Mediation in a metropolitan area with population of at least 250,000 not located within 200 miles of the Store or franchisor's principal office; litigation in Hennepin County, Minnesota. |
| Jury trial waiver | No |
| Governing law | MN |
| Litigation count | 1 |
View Item 3 litigation summary
One active case: AGDG Investments LLC and Fufu & Tommy LLC v. Pet Evolution Franchising LLC, Peter Carlson, Fred Macciocchi, Rian Thiele (Superior Court of California, Orange County, Case No. 30-2024-01437355-CU-BC-CJC). Former franchisees allege misrepresentations in offer and sale of unit and regional development franchise regarding sales volume, earnings, required investments, and other aspects in violation of California Franchise Investment Law, common law fraud, breach of contract, and unfair competition. Defendants filed a Demurrer on May 13, 2025.
Items 10, 11
Training & Operations
- Classroom training
- 17 hrs
- On-the-job training
- 0 hrs
- Training location
- Via video conference
- Ongoing training
- Required
- Field support
- 0 hrs/yr
- On-site visits per year
- Time to open
- 1 mo
- From signing to launch
- Site selection
- franchisor
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
3 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Pet Evolution · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Pet Evolution franchise?
The total investment to open a Pet Evolution franchise ranges from $143K – $896K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Pet Evolution franchise owners earn?
Pet Evolution 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 Pet Evolution 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 Pet Evolution FDD and qualifies whose outlets they describe.
What is Pet Evolution's franchise failure rate?
Based on SBA 7(a) loan data, Pet Evolution has a charge-off rate of 0.0% across 16 loans, meaning 0.0% 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 Pet Evolution franchise locations are there?
As of their most recent FDD filing, Pet Evolution has 22 total units in the United States, including 22 franchised units and 0 company-owned units. 2 new units were opened in the latest reporting year.
Is Pet Evolution a good franchise to buy?
FranchiseVerdict rates Pet Evolution as a B-grade franchise with a verdict score of 50 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 Pet Evolution, 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.