Bottom line
- Total investment $303K – $568K including a $55K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $336K/year (median $315K). Estimated payback in 1.3 years.
- Rated MODERATE with a risk score of 56/100. SBA loan default rate of 0.0% across 14 loans (below the industry average).
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 Pet Passages unit return on the cash you put in?
Unlevered ROIC · per unit
14%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Pet Passages units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$739K
on $3.7M purchase
Total debt
$3.0M
SBA $1.8M + senior + seller note
Overview
About
Pet Passages franchisees operate pet tribute/memorial services, likely handling cremation services, urns, memorial products, and end-of-life pet care arrangements. Day-to-day operations involve customer consultations, service fulfillment, product management, and potentially logistics for pet remains handling.
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 · 14 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
Pet Passages presents elevated risk due to going concern status, active litigation, questionable financial data transparency, and unclear system growth dynamics.
Score breakdown · what drove the 56 / 100 rating
- 01HIGHGoing Concern status is FALSE — franchisor may have financial/operational instability
- 02HIGHActive litigation against franchisee for amounts due indicates collection problems and potential franchisor-franchisee disputes
- 03MINOROnly 18 units with unknown growth trajectory suggests stagnation or contraction in system
- 04MINORExtremely high net income ($327,370) relative to modest average revenue ($336,060) is mathematically implausible and raises financial reporting credibility concerns
- 05MINORNo Item 19 financial performance representations available for validation
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
Pet Passages · FDD (2026) PDF