Sea Glass Properties Franchise Cost, Revenue & Review 2026
- Investment
- $34K – $273K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Sea Glass Properties is a residential real estate brokerage franchise. Franchisees run local brokerages, recruiting agents and managing listings, sales, and transactions.
FranchiseVerdict summary · 2026
A Sea Glass Properties franchise requires a total initial investment of $34K – $273K, including a $10K – $50K franchise fee and an ongoing 6.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Limited operating history: franchising since 2024. A system this young has fewer than three years of Item 20 outlet history and rarely enough SBA loans for a charge-off rate, so its grade rests on less evidence than an established system's. Read its Item 20 tables and talk to its first franchisees before relying on the grade. Other new franchisors
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: partial✓ 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 scored4 of 4 headline figures on this page cite a page of the filing.
Overview
- Investment
- $34K – $273K
- 18th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- 6.0%
- 24th pct Real Estate
- Units
- 5
- 9th pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate 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 $34K – $273K including a $10K franchise fee, 6.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 59/100 (higher is better).
- GROWTHNegative, pipeline stalled: 5 agreements signed but not yet open against 5 open outlets (Item 20).
- DATAThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Sea Glass Franchising, LLC
- CEO title
- Chief Executive Officer
- Jay Olshonsky
- Incorporated in
- Florida
- HQ
- 145 Beachwalk Shore Dr., Ste 102 PMB 1062, St Johns, FL 32259 (also listed: 5328 Yacht Haven Grande, Suite 105, St. Thomas, Virgin Islands 00802)
- Auditor
- SMITH, BUZZI & ASSOCIATES, LLC
- Audited financials
- Franchisor revenue
- $68K
- Most recent fiscal year
Affiliated brands
- SG Florida
- SG Global
- Sperry Global
- SGP USVI
- Sea Glass Properties
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Jay Olshonsky
- Headquarters
- FL
- Founded
- 2024
- FDD year
- 2026
- States available
- 3
Can you afford it, and what does the money buy?
Entry cost runs 15% above the typical real estate franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown12 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $10K | $50K | |
| Traveling and Living Expenses while Training | $2K | $4K | |
| Real Property Rent Deposits and Pre-Paid Expenses | $0 | $23K | |
| Furniture, Fixtures, Decor, and Computer Hardware, Software, & POS System | $0 | $75K | |
| Construction of Leasehold Improvements | $0 | $50K | |
| Initial Inventory | $0 | $1K | |
| Signage | $500 | $8K | |
| Grand Opening Advertising | $2K | $3K | |
| Business Licenses and Permits | $500 | $3K | |
| Insurance (3 Months) | $500 | $2K | |
| Professional Fees | $4K | $5K | |
| Additional Funds (3 months) | $15K | $50K | |
| Total initial investment | $34K | $273K |
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
- $34K – $273K
- Top 40% of category vs category
- Liquid capital req'd
- $15K – $50K
- Middle of category vs category
- Franchise fee
- $10K – $50K
- Top 40% of category vs category
- Royalty
- 6.0%
- Set by a formula · typical 6–8%
- Ad fund
- $3,750
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Technology fee | $500 |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Inventory (initial) | $0 – $1K |
| Total fee load | 6.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Sea Glass Properties makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Sea Glass Properties 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 annual revenue, ad fund rate, 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.
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: 2026 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
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 6.0% — below the Real Estate median of 7.5%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
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 Real Estate medians
How Sea Glass Properties Compares
Category median of published Real Estate 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 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 5
- Opened
- 3
- 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
- N/A
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 60%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 5
- 1.00 per open outlet · Item 20 Table 5
- Projected new
- 7
- Franchisor's next-year forecast
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)
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
New real-estate franchisor (began franchising 2024) with only 5 units and thin financials: net worth $14,967 on $68,033 revenue, though profitable at $14,976 net income. No litigation or bankruptcy, but no Item 19 disclosure and very limited history.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation is required to be disclosed in this Item.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · SMITH, BUZZI & ASSOCIATES, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY2025 total revenues $68,033; net income $14,976; FY2024 total revenues $0, net loss ($9). Company has not been in business for three full years so not all financial statements required by FTC Franchise Rule are included.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: No
- Restricted to system-approved products: No
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 59 / 100 verdict
- 01MINOREarly-stage: franchising since 2024, only 5 units
- 02MINORVery thin net worth of $14,967
- 03MINORNo Item 19 disclosure
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory sizeℹ | Specific geographic region defined by radius, zip codes, or political boundaries |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 2 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | City or county where franchisor's headquarters is located |
| Jury trial waiver | Yes |
| Governing law | Florida |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in this Item.
Items 10, 11
Training & Operations
- Classroom training
- 16 hrs
- On-the-job training
- 0 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Site selection
- Franchisee, subject to franchisor approval; franchisor provides site selection criteria
- Franchisor financing
- Not offered
- Item 10
- POS system
- Bold Trail
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Bold Trail
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Sea Glass Properties franchise?
The total investment to open a Sea Glass Properties franchise ranges from $34K – $273K, with an initial franchise fee of $10K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Sea Glass Properties franchise owners earn?
Sea Glass Properties makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Sea Glass Properties?
Sea Glass Properties is franchised by Sea Glass Franchising, LLC. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Sea Glass Properties 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 Sea Glass Properties FDD and qualifies whose outlets they describe.
What is Sea Glass Properties's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Sea Glass Properties (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 Sea Glass Properties franchise locations are there?
As of their most recent FDD filing, Sea Glass Properties has 5 total units in the United States, including 3 franchised units and 2 company-owned units. 3 new units were opened in the latest reporting year.
Is Sea Glass Properties a good franchise to buy?
FranchiseVerdict rates Sea Glass Properties as a B-grade franchise with a verdict score of 59 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.