Pigtails & Crewcuts Franchise Cost, Revenue & Review 2026
- Investment
- $130K – $283K
- Disclosed sales
- $324K
- gross sales, not profit
- SBA charge-off
- 10.0%
- on 28 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Pigtails & Crewcuts is a children's hair-salon franchise offering kid-friendly haircuts in a fun, play-focused setting. Franchisees run salons managing stylists, walk-ins, parties, and retail.
FranchiseVerdict summary · 2026
A Pigtails & Crewcuts franchise requires a total initial investment of $130K – $283K, including a $30K franchise fee and an ongoing 5.0% royalty[2]. Per the 2025 FDD, average unit revenue was $324K[2]. SBA 7(a) loans show a 10.0% charge-off rate across 28 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: 2025 filing · Data extracted: · Last cited check: · Staleness risk: medium - a newer filing may exist
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $130K – $283K
- 38th pct Education
- Avg gross sales
- $324K
- 12th pct Education
- Royalty
- 5.0%
- 3rd pct Education
- Units
- 80
- 61st pct Education
- SBA charge-off
- 10.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Education · color = vs category peers
Green = favorable by >10% vs Education median · 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 $130K – $283K including a $30K franchise fee, 5.0% ongoing royalty.
- RETURNSAverage unit revenue of $324K/year (median $311K).
- RISKVerdict A (Strongest tier), verdict score 79/100 (higher is better). SBA loan charge-off rate of 10.0% across 28 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +2 franchised outlets in the latest year (3 opened, 1 closed); 11 signed but not yet open (Item 20).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Pigtails & Crewcuts Franchise, LLC
- CEO title
- Chief Executive Officer, President and Manager
- Wade H. Brannon, Jr.
- CEO experience
- 40 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- GA
- HQ
- 3495 Piedmont Road, Suite 402, Building 11, Atlanta, GA 30305
- Auditor
- Symphona (Dublin, Georgia)
- Audited financials
- Franchisor revenue
- $2.0M
- vs $1.8M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- Wade H. Brannon, Jr.
- Headquarters
- GA
- Founded
- 2002
- FDD year
- 2025
- States available
- 23
Can you afford it, and what does the money buy?
Entry cost is about typical for a education franchise (near the category median).
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown16 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $30K | $30K | |
| Leasehold Improvementsnot refundable | $46K | $130K | |
| Rent (3 months)not refundable | $8K | $18K | |
| Initial Training Feenot refundable | $1K | $1K | |
| Travel and Living Expenses While Trainingnot refundable | $1K | $3K | |
| Furnishings, Fixtures, Equipment and Decoratingnot refundable | $18K | $38K | |
| Exterior Signagenot refundable | $2K | $11K | |
| Interior Graphics/Signagenot refundable | $2K | $3K | |
| Opening Inventorynot refundable | $5K | $10K | |
| Opening Suppliesnot refundable | $3K | $5K | |
| Initial Supply of Marketing and Promotional Materialsnot refundable | $500 | $750 | |
| Computer Hardware/Softwarenot refundable | $4K | $4K | |
| Grand Opening Advertisingnot refundable | $3K | $4K | |
| Professional Feesnot refundable | $1K | $6K | |
| Miscellaneous Opening Costsnot refundable | $2K | $5K | |
| Additional Funds - 3 monthsnot refundable | $5K | $15K | |
| Total initial investment | $130K | $283K |
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
- $130K – $283K
- Top 40% of category vs category
- Liquid capital req'd
- $5K – $15K
- Top 40% of category vs category
- Franchise fee
- $30K – $30K
- Top 40% of category vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Training fee | $1K |
| Transfer fee | $5K |
| Renewal fee | $3K |
| Inventory (initial) | $5K – $10K |
| Total fee load | 7.0% of rev |
What do units actually make?
Average unit sales run 21% below the education norm.
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Pigtails & Crewcuts until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$217K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
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, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Pigtails & Crewcuts unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
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%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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
- $324K
- Per unit, per year
- Median gross sales
- $311K
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 sales
- Sample size
- 75 outlets
- vs category median 16 · large
- Range (low → high)
- $63K→$642KCited, not corroborated — printed on page 51 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- 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 204 Education 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 $324K/year in gross sales. Revenue-to-investment ratio: 1.6x.
Fee burden
Total ongoing fee load of 7.0% — below the Education median of 9.0%.
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 13.0% CAGR over 3 years across 80 units — operators are staying and new ones are joining.
Multi-unit rate
Only 21% 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 Education medians
How Pigtails & Crewcuts Compares
Category median of published Education brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 80
- Opened
- 3
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 1.3%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 98%
- vs corporate-owned
- Multi-unit owners
- 20.8%
- Net growth (3-yr)
- +13.0%
- Net unit change over 3 years
- 3-yr CAGR
- +13.0%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Not renewed
- 0
- Transferred
- 3
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 11
- 0.14 per open outlet · Item 20 Table 5
- Projected new
- 12
- Franchisor's next-year forecast
- Termination rate
- 6.4%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 25 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.
Available to sell in · Item 12
- Virginia
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
90 current owners across 26 states.
- TX 15
- FL 10
- GA 10
- NC 7
- SC 7
- TN 7
- AR 4
- CO 4
- AL 3
- AZ 2
- CA 2
- IL 2
- +14 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 28
- Loan volume
- $5.4M
- Median loan
- $144K
- 50th percentile
- Charge-off rate
- 10.0%
- on 28 loans · 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)
- 90.0%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 17
- Defaults
- 1
- Typical loan rate
- 7.7%
- avg rate to borrowers
- Franchised industry avg
- 12.1%
- brand beats franchise avg ↓
- Jobs supported
- 251
- 4.6 per loan
- Lender concentration
- 29%
- top lender's share
Borrower mix: 76% went to startups / new businesses, 24% to established operators
Franchise vs independent — in beauty salons, franchised businesses charge off at 12.1% vs 18.6% for independents — franchising is associated with 35% lower SBA default risk in this category.
Top lenders financing Pigtails & Crewcuts franchisees
Showing 3 of 17 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.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Pigtails & Crewcuts from SBA 7(a) FOIA data.
- Principal loss rate
- 1.6%
- Avg SBA guarantee
- 73%
- Avg interest rate
- 7.66%
- Avg chargeoff amount
- $89K
- Lender concentration
- 28.6%
- Job velocity
- 4.6 per $100K
- NAICS benchmark
- 10.9%
- NAICS 812112
- Jobs supported
- 251
Top SBA lendersTop lender holds 29% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 8 | $962K | N/A |
| 2 | Simmons Bank | 3 | $369K | 0.0% |
| 3 | Cadence Bank | 2 | $160K | N/A |
| 4 | PlainsCapital Bank | 2 | $283K | N/A |
| 5 | SmartBank | 1 | $150K | 0.0% |
| 6 | Wells Fargo Bank National Association | 1 | $109K | 0.0% |
| 7 | The First National Bank of Tom Bean | 1 | $164K | 0.0% |
| 8 | Randolph-Brooks FCU | 1 | $84K | 0.0% |
| 9 | JPMorgan Chase Bank, National Association | 1 | $117K | 0.0% |
| 10 | Emprise Bank | 1 | $237K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 8 | 0 | 0.0% |
| FLFlorida | 4 | 0 | 0.0% |
| ARArkansas | 3 | 0 | 0.0% |
| ILIllinois | 2 | 0 | -- |
| NCNorth Carolina | 2 | 0 | -- |
| TNTennessee | 2 | 0 | 0.0% |
| AZArizona | 1 | 1 | 100.0% |
| CACalifornia | 1 | 0 | 0.0% |
| KSKansas | 1 | 0 | -- |
| KYKentucky | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
SBA loans charge off at 10.0% — 38% 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
Small, slowly-growing children's haircut franchise with opaque unit economics, no disclosed net income data, and minimal financial transparency raises questions about franchisee ROI and system sustainability.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation is required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Symphona (Dublin, Georgia)
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Figures from the audited financial statements of Pigtails & Crewcuts Franchise, LLC (the franchisor itself) for fiscal years ended December 31, 2024 (yr1) and 2023 (yr2), audited by Symphona, dated April 10, 2025. Statements in whole US dollars (not thousands). Balance sheet reconciles: total assets 1,152,652 = total liabilities 1,099,160 + members' equity 53,492. Other income/revenue of 9,710 included in total net revenues. No parent/consolidated statements exist; franchisor has no parents or affiliates.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- 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
- 01MEDNet income not disclosed in FDD — unable to validate actual profitability or ROI against $130k-$283k investment
- 02MEDAnemic unit growth of 2.6% YoY suggests market saturation or franchisee struggles; 80 units is small system with limited scale advantages
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% 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 | 3 |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory radius | 3 mi |
| 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 | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Atlanta, Georgia |
| Jury trial waiver | No |
| Governing law | GA |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 27 hrs
- On-the-job training
- 5 hrs
- Training location
- Atlanta, GA and a designated Pigtails & Crewcuts Salon
- Ongoing training
- Required
- Field support
- 16 hrs/yr
- On-site visits per year
- Time to open
- 9 mo
- From signing to launch
- Site selection
- Franchisee selects site; franchisor must approve within 10 days of receiving all information
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
90 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Pigtails & Crewcuts franchise?
The total investment to open a Pigtails & Crewcuts franchise ranges from $130K – $283K, 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 Pigtails & Crewcuts franchise owners earn?
According to Item 19 of the Pigtails & Crewcuts FDD, the average gross sales per unit is $324K. The median is $311K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Pigtails & Crewcuts?
Pigtails & Crewcuts is franchised by Pigtails & Crewcuts Franchise, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Pigtails & Crewcuts 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 Pigtails & Crewcuts FDD and qualifies whose outlets they describe.
What is Pigtails & Crewcuts's franchise failure rate?
Based on SBA 7(a) loan data, Pigtails & Crewcuts has a charge-off rate of 10.0% across 28 loans, meaning 10.0% 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 Pigtails & Crewcuts franchise locations are there?
As of their most recent FDD filing, Pigtails & Crewcuts has 80 total units in the United States, including 78 franchised units and 2 company-owned units. 3 new units were opened in the latest reporting year.
Is Pigtails & Crewcuts a good franchise to buy?
FranchiseVerdict rates Pigtails & Crewcuts as a A-grade franchise with a verdict score of 79 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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
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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.