Shine Franchise Cost, Revenue & Review 2026
- Investment
- $142K – $189K
- Disclosed sales
- $417K
- gross sales, not profit
- SBA charge-off
- Limited · 21 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Shine is a home-services franchise providing window cleaning, pressure washing, gutter cleaning, and holiday lighting for homes and businesses. Franchisees run a route-based operation with crews handling recurring residential and commercial jobs in a territory.
FranchiseVerdict summary · 2026
A Shine franchise requires a total initial investment of $142K – $189K, including a $50K franchise fee and an ongoing 7.0% royalty[2]. Per the 2025 FDD, average unit revenue was $417K[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
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 scored7 of 7 headline figures on this page cite a page of the filing.
Overview
- Investment
- $142K – $189K
- 54th pct Cleaning & Ma…
- Avg gross sales
- $417K
- Cohort-only Item 1911th pct Cleaning & Ma…
- Royalty
- 7.0%
- 38th pct Cleaning & Ma…
- Units
- 74
- 57th pct Cleaning & Ma…
- SBA charge-off
- N/A
Quick verdict · Cleaning & Maintenance · color = vs category peers
Green = favorable by >10% vs Cleaning & Maintenance 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 $142K – $189K including a $50K franchise fee, 7.0% ongoing royalty.
- RETURNSAverage unit revenue of $417K/year (median $377K). Shine discloses Item 19 performance by how long the unit has operated, crossed with single- versus multi-territory ownership, and states no single system-wide average, so the unit revenue shown is not a figure its FDD publishes.
- RISKVerdict B (Above average), verdict score 65/100 (higher is better).
- GROWTHPositive: net +18 franchised outlets in the latest year (20 opened, 0 closed); 3 signed but not yet open (Item 20).
- GROWTHSystem growing at 57.4% CAGR over 3 years with 74 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Shine Development LLC
- Parent company
- Evive Brands, LLC
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- Riverside Micro-Cap Fund VI-A, L.P. (The Riverside Company)
- FDD Item 1, page 8 of the 2025 FDD
- Predecessor
- Shine Development, Inc.
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Ryan Parsons
- Incorporated in
- Delaware
- HQ
- 8100 E. Indian School Road, Suite 201, Scottsdale, AZ 85251
- Auditor
- Optimus Financials, Inc.
- Audited financials
- Franchisor revenue
- $2.8M
- vs $2.5M prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- Brothers Parsons Franchising
- Executive Home Care Franchising
- ALL Franchising
- MB Franchise Holdings
- Pacific Lawn Sprinklers Franchise
Other brands the franchisor or its parent operates (Item 1).
Same owner · FDD Item 1, page 8
3 other brands on this site name Riverside Micro-Cap Fund VI-A, L.P. (The Riverside Company) as parent or ultimate parent in their own FDD.
Portfolio: The Riverside Company (private-equity sponsor)
Grouped by the owner's name as each filing prints it (this page: the 2025 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Ryan Parsons
- Headquarters
- AZ
- Founded
- 2012
- FDD year
- 2025
- States available
- 17
Can you afford it, and what does the money buy?
Entry cost is about typical for a cleaning & maintenance franchise (near the category median).
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $30K | $60K |
| Equipment, build-out, other | $62K | $79K |
| Total initial investment | $142K | $189K |
Source: Shine 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $142K – $189K
- Middle of category vs category
- Liquid capital req'd
- $30K – $60K
- Middle of category vs category
- Franchise fee
- $50K – $50K
- Middle of category vs category
- Royalty
- 7.0%
- Set by a formula · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $450 |
| Transfer fee | $10K |
| Renewal fee | $5K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales run 22% below the cleaning & maintenance norm.
Item 19 of this FDD reports outlet performance by how long the unit has operated, crossed with single- versus multi-territory ownership, and states no single system-wide average. The figure shown here is not one the filing publishes; the cohorts it does disclose are listed with it.
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 Shine 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
$210K
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 Shine 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
Item 19 of this FDD reports outlet performance by how long the unit has operated, crossed with single- versus multi-territory ownership, and states no single system-wide average. The figure shown here is not one the filing publishes; the cohorts it does disclose are listed with it.
- Avg gross sales
- $417K
- Per unit, per year
- Median gross sales
- $377K
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
- 55 outlets
- vs category median 32
- 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 191 Cleaning & Maintenance brands
Item 19 · by how long the unit has operated, crossed with single- versus multi-territory ownership
What the filing does disclose
Each row below is quoted from the FDD's own Item 19 table. The single average above is not - the filing states no system-wide figure, and we cannot attribute the one shown to any row here.
Item 19 detail
By years open
| Segment | Sample (outlets) | Avg |
|---|---|---|
| Single Territory, 1-3 Years | 3 outlets | $148K |
| Single Territory, 3-5 Years | 7 outlets | $505K |
| Single Territory, 5-10 Years | 19 outlets | $462K |
| Single Territory, 10+ Years | 4 outlets | $1.3M |
unit count
| Segment | Sample (outlets) | Avg |
|---|---|---|
| 2-Territory Multi-Territory, 1-3 Years | 3 outlets | $174K |
| 2-Territory Multi-Territory, 5-10 Years | 4 outlets | $590K |
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 $417K/year in gross sales. Revenue-to-investment ratio: 2.5x.
Fee burden
Total ongoing fee load of 9.0% (near the Cleaning & Maintenance median).
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 57.4% CAGR over 3 years across 74 units — operators are staying and new ones are joining.
Multi-unit rate
40% of franchisees own multiple units, a moderate multi-unit rate.
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 Cleaning & Maintenance medians
How Shine Compares
Category median of published Cleaning & Maintenance 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
- 74
- Opened
- 20
- Last reporting year
- Closed
- 0
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 1.4%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Multi-unit owners
- 40.0%
- Net growth (3-yr)
- +57.4%
- Net unit change over 3 years
- 3-yr CAGR
- +57.4%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Not renewed
- 0
- Transferred
- 5
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 3
- 0.04 per open outlet · Item 20 Table 5
- Projected new
- 1
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 17 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.
17
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.
- Total loans
- 21
- Loan volume
- $5.4M
- Median loan
- $255K
- average
- Charge-off rate
- Limited · 21 loans
- Limited SBA coverage: 21 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 21 loans
- 5-yr charge-off
- Limited · 21 loans
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 0
Vintage analysis
Shine charge-off rate by loan vintage
Top lenders financing Shine franchisees
Showing 3 of 7 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 Shine from SBA 7(a) FOIA data.
Top SBA lenders
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 6 | $2.4M | 0.0% |
| 2 | Simmons Bank | 5 | $611K | 0.0% |
| 3 | United Midwest Savings Bank National Association | 4 | $580K | 0.0% |
| 4 | Manufacturers and Traders Trust Company | 2 | $205K | N/A |
| 5 | Regions Bank | 2 | $1.1M | N/A |
| 6 | Newtek Bank, National Association | 1 | $200K | N/A |
| 7 | Northern Great Lakes Initiatives | 1 | $217K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| MIMichigan | 6 | 0 | 0.0% |
| TXTexas | 6 | 0 | 0.0% |
| GAGeorgia | 2 | 0 | 0.0% |
| MDMaryland | 2 | 0 | -- |
| TNTennessee | 2 | 0 | -- |
| FLFlorida | 1 | 0 | -- |
| KSKansas | 1 | 0 | -- |
| NVNevada | 1 | 0 | -- |
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
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
Negative franchisor net worth (-$10,499) and a small net loss (-$50,038) on $2.5M revenue, plus one Item-3 litigation matter. No going-concern or bankruptcy; system is growing (57.4% net growth, 74 units, low 1.35% turnover). Weak equity is the main concern.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Optimus Financials, Inc.
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 8: franchisor's most recent fiscal year (ended Dec 31, 2024) total revenue disclosed as $3,319,683.49 in one place and $2,545,300 (audited statement of operations) in another; the $2,545,300 figure is used as franchisor_revenue_yr2 since it ties to the audited balance sheet/income statement.
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 65 / 100 verdict
- 01MINORNegative net worth -$10,499, net income -$50,038
- 02HIGH1 litigation matter
- 03MINORNo going-concern or bankruptcy
- 04MINOR74 units, 57.4% net growth, turnover 1.35%
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% 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 | 2 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory sizeℹ | 75,000-125,000 households per single territory |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 20 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 45 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 14 |
| Curable defaultsℹ | 11 |
| Mandatory arbitration | Yes |
| Arbitration location | Maricopa County, Arizona |
| Jury trial waiver | Yes |
| Governing law | Arizona |
| Litigation count | 2 |
Items 10, 11
Training & Operations
- Classroom training
- 49 hrs
- On-the-job training
- 46 hrs
- Training location
- On-site and franchisor location
- Ongoing training
- Required
- Field support
- 46 hrs/yr
- On-site visits per year
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- Better Software (BPro)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Better Software (BPro)
Item 20 · call current owners
Franchisee Contacts
55 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 Shine franchise?
The total investment to open a Shine franchise ranges from $142K – $189K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Shine franchise owners earn?
According to Item 19 of the Shine FDD, the average gross sales per unit is $417K. The median is $377K. Important context: Item 19 of this FDD reports outlet performance by how long the unit has operated, crossed with single- versus multi-territory ownership, and states no single system-wide average. The figure shown here is not one the filing publishes; the cohorts it does disclose are listed with it.. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Shine?
Shine is franchised by Shine Development LLC. Its parent company is Evive Brands, LLC. The ultimate parent named in the FDD is Riverside Micro-Cap Fund VI-A, L.P. (The Riverside Company). Source: FDD Item 1, 2025 filing.
What is Item 19 in the Shine 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 Shine FDD and qualifies whose outlets they describe.
What is Shine's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Shine (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 Shine franchise locations are there?
As of their most recent FDD filing, Shine has 74 total units in the United States, including 74 franchised units and 0 company-owned units. 20 new units were opened in the latest reporting year.
Is Shine a good franchise to buy?
FranchiseVerdict rates Shine as a B-grade franchise with a verdict score of 65 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.