S.F. Hole in the Wall Pizza
Formerly known as Crust Pizza Co.
Bottom line
- Total investment $663K – $931K including a $35K franchise fee, 6.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 64/100. SBA loan default rate of 0.0% across 40 loans (below the industry average).
- No 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
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 S.F. Hole in the Wall Pizza unit return on the cash you put in?
Unlevered ROIC · per unit
9%
Below typical band (30–60%)
Overview
About
Franchisees operate casual quick-service pizza restaurants serving traditional pies and related Italian fare. Day-to-day operations include dough preparation, pizza assembly and oven management, counter service or delivery fulfillment, cash handling, and local marketing compliance with S.F. Hole in the Wall brand standards.
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 · 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
Single-unit pizza concept with going concern status, opaque financials, and no performance data creates substantial execution and franchisor stability risk.
Score breakdown · what drove the 64 / 100 rating
- 01HIGHGoing Concern status indicates franchisor financial distress or viability uncertainty
- 02MINORSingle unit system with unknown growth trajectory suggests stalled or failed expansion
- 03MINORNo average revenue or net income disclosure prevents ROI validation and profitability assessment
- 04MEDHigh investment range ($662.6K–$930.6K) with 6% royalty on undisclosed sales creates unpredictable cash flow
- 05MINORItem 19 (financial performance representations) appears absent, blocking benchmarking against franchisor claims
- 06MINORMinimal franchise fee ($35K) relative to total investment suggests thin franchisor capitalization for support
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
16 numbers
One-time purchase · CSV download · Validation questions included
FDD download
S.F. Hole in the Wall Pizza · FDD (2024) PDF