Pizzawala’s Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Pizzawala's is a fast-casual franchise serving Indian-fusion pizza and Italian fare. Franchisees run the restaurants, managing food prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Pizzawala’s franchise requires a total initial investment of $376K – $637K, including a $25K franchise fee and an ongoing 5.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $376K – $637K
- 62nd pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 11th pct Service Resta…
- Units
- 3
- 15th 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 $376K – $637K including a $25K franchise fee, 5.0% ongoing royalty.
- RETURNSItem 21 audited financial statements (FYE Dec 31, 2024/2023/2022) are attached as Exhibit A but are image-based in the source text and not machine-readable; no balance sheet or income figures could be extracted. Note: Item 8 discloses franchisor total revenue of $77,889 for FYE 12/31/2024 (not from the audited statements).
- RISKVerdict C (Average), verdict score 45/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Pizzawala's Franchising, Inc.
- Parent company
- None
- CEO title
- Chief Executive Officer
- Rikesh Patel
- Incorporated in
- MI
- HQ
- 6321 Commerce Drive, Westland, Michigan 48185
- Auditor
- SPA ASSOCIATES, LLC
- Audited financials
- Franchisor revenue
- $78K
- vs $78K prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- Nihi Franchising
- Nihi Foods
- Nihi Distributing
- Desi Pizza Curry on Crust
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Rikesh Patel
- Headquarters
- MI
- Founded
- 2019
- FDD year
- 2025
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 23% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $25K | $25K | |
| Training Expensesnot refundable | $4K | $15K | |
| Three Months Rent or Lease | $0 | $10K | |
| Building Improvements | $200K | $350K | |
| Furniture, Fixtures, Equipment, Audio Visual and Small Wares | $100K | $150K | |
| Point of Sale System (Electronic Cash Register) | $3K | $10K | |
| Insurance | $1K | $3K | |
| Opening Inventory | $8K | $8K | |
| Signage | $5K | $10K | |
| Professional Fees | $15K | $25K | |
| Uniforms | $500 | $1K | |
| Grand Opening Advertising | $5K | $10K | |
| Additional Funds (three months) | $10K | $20K | |
| Total initial investment | $376K | $637K |
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
- $376K – $637K
- Middle of category vs category
- Liquid capital req'd
- $10K – $20K
- Top 40% of category vs category
- Franchise fee
- $25K – $25K
- Top 40% of category vs category
- Royalty
- 5.0%
- percentage · typical 6–8%
- Ad fund
- 5.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 5.0% of gross sales |
| Transfer fee | $19K |
| Renewal fee | $10K |
| Inventory (initial) | $8K – $8K |
| Total fee load | 10.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Pizzawala’s 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 Pizzawala’s 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
Item 21 audited financial statements (FYE Dec 31, 2024/2023/2022) are attached as Exhibit A but are image-based in the source text and not machine-readable; no balance sheet or income figures could be extracted. Note: Item 8 discloses franchisor total revenue of $77,889 for FYE 12/31/2024 (not from the audited statements).
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 10.0% — above the Quick-Service Restaurants average of 7.9%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
Net unit growth of +200.0% over 3 years (1 opened, 0 closed).
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 Pizzawala’s Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 3
- Opened
- 1
- 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
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +200.0%
- Net unit change over 3 years
- 3-yr CAGR
- +200.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 2
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 3 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.
3
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.
No SBA loan data available for this brand.
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
Pizzawala's presents CAUTION-to-HIGH RISK profile due to undisclosed financials, going concern status, minimal unit count, and unproven franchisee economics in an early-stage system.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $117,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · SPA ASSOCIATES, 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
Score breakdown · what drove the 45 / 100 verdict
- 01HIGHGoing Concern status is FALSE — indicates potential financial instability or undisclosed operational challenges at corporate level
- 02MINORNo Item 19 financial disclosure — average unit volumes and profitability completely hidden, making ROI analysis impossible
- 03MINORMinimal franchisee base (only 3 units) creates extreme concentration risk and questions viability of support infrastructure
- 04MINORHigh investment range ($376K-$637K) paired with unknown revenue potential is a major red flag without earnings data
- 05MEDEarly-stage system growth (50% YoY on 3 units = only 2 units existed prior) suggests unproven model and limited franchisee track record
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 10.0% 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 | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 5 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 15 days |
| Termination groundsℹ | 2 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Michigan (county of principal place of business) |
| Jury trial waiver | No |
| Governing law | MI |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 56 hrs
- On-the-job training
- 160 hrs
- Training location
- Canton, Michigan (on-the-job); Westland, Michigan (classroom)
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
10 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Pizzawala’s · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Pizzawala’s franchise?
The total investment to open a Pizzawala’s franchise ranges from $376K – $637K, with an initial franchise fee of $25K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Pizzawala’s franchise owners earn?
Pizzawala’s 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 Pizzawala’s 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 Pizzawala’s FDD and qualifies whose outlets they describe.
What is Pizzawala’s's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Pizzawala’s (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 Pizzawala’s franchise locations are there?
As of their most recent FDD filing, Pizzawala’s has 3 total units in the United States, including 3 franchised units and 0 company-owned units. 1 new units were opened in the latest reporting year.
Is Pizzawala’s a good franchise to buy?
FranchiseVerdict rates Pizzawala’s as a C-grade franchise with a verdict score of 45 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
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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.