Bottom line
- Total investment $304K – $808K including a $25K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 57/100. SBA loan default rate of 0.0% across 27 loans (below the industry average).
- System contracting at -9.0% CAGR over 3 years. Investigate whether closures are franchisor-driven (consolidation) or franchisee-driven (economics).
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 Pieology unit return on the cash you put in?
Unlevered ROIC · per unit
20%
Below typical band (30–60%)
Overview
About
Franchisees operate fast-casual pizza restaurants where customers customize individual pizzas with toppings before they're fired in high-heat ovens. Day-to-day operations include managing front-of-house staff, handling inventory of fresh ingredients, executing made-to-order production, managing POS systems, and handling local marketing. Franchisees are responsible for P&L management, lease obligations, and typically work on-site during peak hours.
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 · 7 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
Pieology presents moderate-to-high risk due to contracting unit base, absent financial transparency, and unclear unit profitability in a saturated fast-casual pizza category.
Score breakdown · what drove the 57 / 100 rating
- 01MINORUnit count declining 8.2% YoY (109 units) signals contraction and potential market saturation or operational challenges
- 02MEDNo Item 19 financial disclosure (Avg Revenue and Net Income not disclosed) prevents ROI validation and suggests franchisor may be hiding weak unit economics
- 03MEDHigh investment range ($304K-$807.5K) with no disclosed average unit economics creates uncertainty about profitability and payback period
- 04HIGHGoing Concern status is False, indicating potential financial instability at franchisor level
- 05MINORCompetitive QSR segment (fast-casual pizza) with strong incumbents (Blaze, MOD) makes unit-level differentiation difficult
- 06MED5% royalty on undisclosed sales makes it impossible to model actual net income and franchisee cash flow
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
31 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Pieology · FDD (2024) PDF