Bottom line
- Total investment $34K – $273K including a $30K 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 65/100.
- 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 Sea Glass Properties unit return on the cash you put in?
Unlevered ROIC · per unit
56%
In Yale's "attractive" band (30–60%)
Overview
About
Franchisees operate as real estate brokers/agents under the Sea Glass Properties brand, handling residential property sales and leasing while building their own agent team. Day-to-day activities include client acquisition, property showings, transaction management, and team recruitment—generating revenue through commission splits on closed deals while paying royalties based on gross commission income (GCI) or a minimum annual fee.
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 · 16 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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Sea Glass Properties presents meaningful caution-level risk due to minimal system size, undisclosed financial performance metrics, and high fixed fees relative to unproven revenue potential in a competitive real estate brokerage market.
Score breakdown · what drove the 65 / 100 rating
- 01MEDOnly 5 units systemwide with unknown growth trajectory suggests minimal brand traction and limited peer support network
- 02MEDNo Item 19 financial performance disclosure (Avg Revenue/Net Income not disclosed) prevents ROI validation and indicates potential underperformance
- 03MEDHigh minimum annual fee of $10,000-$50,000 creates fixed cost burden regardless of commission income, especially risky for new franchisees in ramp-up phase
- 04MINORWide investment range ($34K-$273K) suggests inconsistent territory valuations and unclear startup cost transparency
- 05MINOR10-year term is lengthy commitment with minimal franchise system stability (5 units) to justify lock-in period
- 06MEDReal estate brokerage is commission-based with no salary floor, creating income volatility that minimum fees may not offset
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
17 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Sea Glass Properties · FDD (2026) PDF