Pickleman’s Gourmet Cafe Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Pickleman's Gourmet Cafe is a fast-casual franchise serving toasted sandwiches, salads, soups, and pizza with fast delivery. Franchisees run the cafes, managing food prep, staffing, and delivery.
FranchiseVerdict summary · 2026
A Pickleman’s Gourmet Cafe franchise requires a total initial investment of $416K – $1.0M, including a $35K franchise fee and an ongoing 6.0% royalty[2]. Per the 2025 FDD, average unit revenue was $1.4M[2]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $416K – $1.0M
- 67th pct Service Resta…
- Avg gross sales
- $1.4M
- 23rd pct Service Resta…
- Royalty
- 6.0%
- 46th pct Service Resta…
- Units
- 32
- 57th 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 $416K – $1.0M including a $35K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $1.4M/year (median $1.3M).
- RISKVerdict A (Strongest tier), verdict score 79/100 (higher is better).
- FLAGBankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Pickleman's Franchising, LLC
- Parent company
- None
- Ultimate parent
- Pickleman's Holdings, LLC
- CEO title
- Chief Executive Officer
- Douglas Stritzel
- CEO experience
- 2007 yrs
- Years in role or industry
- Incorporated in
- MO
- HQ
- 2072 Farris County Rd., Foristell, MO 63348
- Auditor
- Winfrey Certified Public Accountants, LLC
- Audited financials
- Franchisor revenue
- $3.8M
- vs $3.5M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- Douglas Stritzel
- Headquarters
- MO
- Founded
- 2007
- FDD year
- 2025
- States available
- 7
Can you afford it, and what does the money buy?
Entry cost runs 11% above the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown14 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $35K | $35K | |
| Lease Deposit and Rentnot refundable | $10K | $24K | |
| Improvements/Construction/and Interior decoratingnot refundable | $150K | $550K | |
| Architect Feesnot refundable | $10K | $25K | |
| Equipment/Furniture/Fixtures/Smallwaresnot refundable | $130K | $250K | |
| Signagenot refundable | $15K | $40K | |
| Licenses, Dues, Deposits, etc.not refundable | $4K | $10K | |
| Travel and Living Expenses while Trainingnot refundable | $10K | $20K | |
| Office Equipmentnot refundable | $2K | $5K | |
| Inventory/Suppliesnot refundable | $6K | $12K | |
| Professional Feesnot refundable | $1K | $5K | |
| Insurance (per quarter)not refundable | $4K | $5K | |
| Additional Funds - 3 monthsnot refundable | $36K | $55K | |
| Grand Opening Advertisingnot refundable | $4K | $8K | |
| Total initial investment | $416K | $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
- $416K – $1.0M
- Bottom third — review vs category
- Liquid capital req'd
- $36K – $55K
- Bottom third — review vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 6.0%
- percentage · typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 34.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $1K |
| Transfer fee | $18K |
| Renewal fee | $9K |
| Inventory (initial) | $6K – $12K |
| Total fee load | 34.0% of rev |
At 34.0% total fee load, roughly $465K per year goes to the franchisor before you pay a single operating expense.
What do units actually make?
Average unit sales run 13% above the quick-service restaurants norm.
Source: FDD 2025 · Item 19
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
$178K
13.0% margin
Unlevered ROIC
23%
EBITDA / total invested capital
Payback
4.4 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one Pickleman’s Gourmet Cafe unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
23%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 Pickleman’s Gourmet Cafe units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$1.6M
on $8.2M purchase
Total debt
$6.6M
SBA $4.1M + senior + seller note
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
- Avg gross sales
- $1.4M
- Per unit, per year
- Median gross sales
- $1.3M
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross revenue
- Sample size
- 28 outlets
- vs category median 20
- Range (low → high)
- $677K→$4.4M
- Cohort dispersion (min → max)
- Quartile band
- $921K→$2.0M
- Bottom 25% → top 25%
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
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.
Unit economics
Average unit generates $1.4M/year in gross sales. Revenue-to-investment ratio: 1.9x.
Fee burden
Total ongoing fee load of 34.0% — above the Quick-Service Restaurants average of 7.9%.
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 10.7% CAGR over 3 years across 32 units — operators are staying and new ones are joining.
Multi-unit rate
Only 4% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Pickleman’s Gourmet Cafe Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 32
- Opened
- 8
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 97%
- vs corporate-owned
- Multi-unit owners
- 3.8%
- Net growth (3-yr)
- +10.7%
- Net unit change over 3 years
- 3-yr CAGR
- +10.7%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 3
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 5
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 4
- Franchisor's next-year forecast
- Transfer rate
- 15.6%
- Owners selling to other franchisees
Last reporting year only, multi-year history not disclosed in this brand's FDD.
Item 20 · 6 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 4 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 4
- Loan volume
- $1.5M
- Median loan
- $365K
- average
- Charge-off rate
- N/A
- limited sample (4 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
- 4
- 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
Profitability opacity combined with modest growth, unclear going concern status, and high royalty obligations relative to disclosed revenue create meaningful due diligence gaps.
Litigation (Item 3)
No litigation disclosed in Item 3
Bankruptcy (Item 4)
Disclosed in last 7 years
COO Kenneth Rice and spouse filed Chapter 7 bankruptcy on November 8, 2018 (prior to employment); discharge entered May 2, 2019. Case No. 18-55178-mar (E.D. MI 2018).
Audited financials (Item 21)
Yes · Winfrey Certified Public Accountants, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- 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 79 / 100 verdict
- 01MINORNo net income disclosure (Item 19) prevents profitability assessment despite $1.37M average revenue
- 02MINORModest unit growth of 10.7% YoY suggests slower expansion or potential saturation concerns
- 03MINORWide investment range ($416K-$1.04M) indicates inconsistent unit economics or site-dependent performance
- 04HIGHGoing Concern status is FALSE, which is atypical for an active franchisor and warrants clarification
- 05MINOR6% royalty on $1.37M average revenue equals ~$82K annual obligation with unknown net margins
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 34.0% of sales (royalty + ad fund), before rent and labor.
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 | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| 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 |
| Mandatory arbitration | Yes |
| Arbitration location | Boone County, Missouri |
| Jury trial waiver | Yes |
| Governing law | MO |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 300 hrs
- On-the-job training
- 100 hrs
- Training location
- Existing Pickleman's Gourmet Cafe restaurant
- Ongoing training
- Optional
- Field support
- 10 hrs/yr
- On-site visits per year
- Time to open
- 7 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- SpotOn
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: SpotOn
Item 20 · call current owners
Franchisee Contacts
28 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Pickleman’s Gourmet Cafe · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Pickleman’s Gourmet Cafe franchise?
The total investment to open a Pickleman’s Gourmet Cafe franchise ranges from $416K – $1.0M, 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 Pickleman’s Gourmet Cafe franchise owners earn?
According to Item 19 of the Pickleman’s Gourmet Cafe FDD, the average gross sales per unit is $1.4M. The median is $1.3M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Pickleman’s Gourmet Cafe 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 Pickleman’s Gourmet Cafe FDD and qualifies whose outlets they describe.
What is Pickleman’s Gourmet Cafe's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Pickleman’s Gourmet Cafe (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 Pickleman’s Gourmet Cafe franchise locations are there?
As of their most recent FDD filing, Pickleman’s Gourmet Cafe has 32 total units in the United States, including 31 franchised units and 1 company-owned units. 8 new units were opened in the latest reporting year.
Is Pickleman’s Gourmet Cafe a good franchise to buy?
FranchiseVerdict rates Pickleman’s Gourmet Cafe as a A-grade franchise with a verdict score of 79 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?
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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.