FranchiseVerdict
Skyhawks logo
FV-02340·STRONGExcellent95

Skyhawks

Formerly known as Spray Foam Genie

Health & FitnessFranchising since 2010Website
Investment
$38K – $120K
4th pct Health & Fitn…
Avg revenue
$497K
25th pct Health & Fitn…
Royalty
Units
119
81st pct Health & Fitn…
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $38K – $120K including a $43K franchise fee.
  • Average unit revenue of $497K/year (median $268K).
  • Rated STRONG with a risk score of 47/100. SBA loan default rate of 0.0% across 5 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Skyhawks Franchise Group, LLC
Parent company
SPay, Inc.
Incorporated in
Delaware
HQ
1826 E. Sprague Avenue, Spokane, Washington 99202
Auditor
Kezos & Dunlavy
Audited financials
Franchisor revenue
$1.3M
vs $1.9M prior year

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 Skyhawks unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $496,732
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: fitness
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $38K–$120K
Working capital
$
FDD reports $8K–$11K

Unlevered ROIC · per unit

169%

Above typical band (30–60%)

0%30–60% Yale band80%
ROIC above 100% usually means the revenue figure is a system-wide aggregate or top-cohort number rather than a single-unit average. Verify the "Revenue · per unit" field against the brand's FDD Item 19 detail tables before relying on this output.

Store EBITDA · annual
$149K
EBITDA margin
30.0%
Total invested
$88K
Payback
7 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Skyhawks units return on equity?

Edit assumptions

Equity IRR · 5-yr

42.6%

5.89× MOIC

Year-1 DSCR

2.04×

EBITDA ÷ debt service

Equity required

$3.0M

on $11.4M purchase

Total debt

$8.4M

SBA $5.0M + senior + seller note

SBA 7(a) request ($5.7M) exceeds the $5M program cap. Excess capped automatically; backfill via conventional or equity.

Overview

About

Franchisees operate youth sports training programs (soccer/multi-sport camps and clinics) for children ages 2-12, managing instructor scheduling, facility logistics, customer acquisition, and retention through seasonal programming. Daily operations include coaching, marketing to local schools/community centers, managing registrations, and generating revenue through class fees and special events.

CEO
Michael Doernberg
Founded
2007
FDD year
2026
States available
21

Item 7 · what it costs

The Vitals

Total investment
$38K – $120K
All-in to open one unit
Liquid capital
$8K – $11K
Cash you must have on hand
Franchise fee
$43K
Royalty
The greater of the monthly minimum royalty (between $250 …
Ad fund
2.0%
typical 3–5%
Total fee load
11.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$497K
Per unit, per year
Median gross sales
$268K
Item 19 type
Historical Gross Revenue
Sample size
100 units
vs category median 12 · large
Range (low → high)
$63K$1.9M
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank25th
vs Health & Fitness peers
Investment cost rank4th
Lower investment ranks lower (better)
Royalty rate rank69th
Lower royalty = lower percentile (better)
Unit count rank81th
vs Health & Fitness peers
Risk score rank11th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
119
Opened
12
Last reporting year
Closed
1
Turnover rate
0.8%
Company-owned
43
Corporate units in the system
% franchised
64%
vs corporate-owned
Net growth (yr3)
+5.6%
Net unit change last year
3-yr CAGR
+13.4%
Compounded over last 3 years
2024
76+4
Franchised units
2025
72
Franchised units
2026
67
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 3 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 3 states
Not registered

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.

Total loans
5
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

47
Risk · 0-100
STRONG47 / 100

Skyhawks presents moderate-to-caution risk: undisclosed profitability data, regulatory history, sluggish growth, and unclear cost-benefit analysis demand thorough validation before commitment.

Score breakdown · what drove the 47 / 100 rating

  1. 01MEDNo Item 19 (Average Unit Volume) disclosed — inability to verify $496,732 avg revenue claim or actual profitability
  2. 02MINORSlow unit growth of only 5.6% YoY with 119 units suggests market saturation or recruitment challenges
  3. 03MINORPredecessor company (SoccerTots) faced multi-state franchise registration/licensing violations (2008-2010) — potential compliance culture issue
  4. 04MINORWide royalty range ($250–$1,100 minimum plus 5-9% gross) creates unpredictable cost structure; low-revenue franchisees pay disproportionate fees
  5. 05MINORFranchise fee ($42,500) plus initial investment up to $119,500 represents significant capital outlay with unverified return metrics

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Population-based
Protected territory
Yes
Initial term
7 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
6
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Delaware

Item 11

Training & Operations

Classroom training
24 hrs
On-the-job training
12 hrs
POS system
PRM Software and QuickBooks Online
Operating tech stack

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

48 numbers

Locked
(925) 269-••••
AZ
(585) 738-••••
AZ
(718) 755-••••
AZ

One-time purchase · CSV download · Validation questions included

FDD download

Skyhawks · FDD (2026) PDF

Single-page checkout · instant download · CSV export of contacts available separately above