Smalls Sliders Franchise Cost, Revenue & Review 2026
- Investment
- $1.4M – $2.1M
- Disclosed sales
- partial, no system average
- SBA charge-off
- Under 10 loans (5)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Smalls Sliders is a quick-service franchise built around a focused menu of cheeseburger sliders, fries, and drinks with drive-thru service. Franchisees run the restaurants, managing food prep, staffing, and fast service.
FranchiseVerdict summary · 2026
A Smalls Sliders franchise requires a total initial investment of $1.4M – $2.1M, including a $35K franchise fee and an ongoing 6.0% royalty[2]. The 2026 FDD on file does not yield a unit-revenue figure we can publish. 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: low - issued within the last 12 months
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 scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $1.4M – $2.1M
- 96th pct Service Resta…
- Avg gross sales
- N/A
- Incl. company outlets
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 45
- 64th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants 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 $1.4M – $2.1M including a $35K franchise fee, 6.0% ongoing royalty.
- RETURNSItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
- RISKVerdict B (Above average), verdict score 48/100 (higher is better).
- GROWTHNegative, pipeline stalled: 55 agreements signed but not yet open against 45 open outlets (Item 20).
- GROWTHSystem growing at 377.8% CAGR over 3 years with 45 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Smalls Sliders Franchising LLC
- Parent company
- Smalls Holding, LLC
- FDD Item 1, page 6 of the 2026 FDD
- Predecessor
- We do not have any predecessors
- Prior franchisor entity
- CEO title
- President and Chief Operating Officer
- Clint Penfield
- Incorporated in
- Georgia
- HQ
- 115 Perimeter Center Place, Suite 1045, Atlanta, Georgia 30346
- Auditor
- Bennett Thrasher LLP
- Audited financials
- Franchisor revenue
- $8.0M
- vs $4.2M prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- Smalls Sliders IP
- Smalls Sliders Gift Cards
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Clint Penfield
- Headquarters
- GA
- Founded
- 2021
- FDD year
- 2026
- States available
- 11
Can you afford it, and what does the money buy?
Entry cost runs 265% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $35K | $35K | |
| Initial Training Feenot refundable | $3K | $3K | |
| Restaurant Building & Site Worknot refundable | $979K | $1.5M | |
| FF&E & Technologynot refundable | $257K | $339K | |
| Signage & Menu Boardsnot refundable | $50K | $112K | |
| Lease, Utility and Security Depositsnot refundable | $500 | $4K | |
| Professional Feesnot refundable | $1K | $9K | |
| Opening Inventorynot refundable | $26K | $33K | |
| Minimum Grand Opening Advertising Campaign Feenot refundable | $15K | $15K | |
| Hiring, Uniform and Training Expensesnot refundable | $15K | $31K | |
| Insurancenot refundable | $2K | $3K | |
| Miscellaneousnot refundable | $1K | $4K | |
| Additional Funds - 3 monthsnot refundable | $25K | $30K | |
| Total initial investment | $1.4M | $2.1M |
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
- $1.4M – $2.1M
- Bottom third — review vs category
- Liquid capital req'd
- $25K – $30K
- Middle of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $100 |
| Transfer fee | $20 |
| Renewal fee | $20 |
| Total fee load | 9.0% of rev |
What do units actually make?
Source: FDD 2026 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Smalls Sliders is on file. 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 Smalls Sliders 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, 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
Includes company-owned outlets
- Item 19 type
- Actual Sales
- Sample size
- 45 outlets
- vs category median 19 · large
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
Compared against 781 Quick-Service Restaurants brands
Item 19 · by group
What the filing does disclose
Item 19 of this FDD reports performance in more than one group. We publish no single average for this brand; the groups the filing does disclose are listed below, quoted from its own Item 19 table.
Each row below is quoted from the FDD's own Item 19 table. Gross sales are not profit.
Incl. company outletsItem 19 detail
By years open
| Segment | Sample (outlets) | Avg |
|---|---|---|
| Restaurants Open One Year or Longer (opened before 1/1/2025) | 21 outlets | $1.6M |
| Restaurants Open Less Than One Year (opened in 2025) | 24 outlets | — |
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 9.0% — above the Quick-Service Restaurants median of 7.5%.
Disclosure
Item 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
Operator retention
System expanding at 377.8% CAGR over 3 years across 45 units — operators are staying and new ones are joining.
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 Quick-Service Restaurants medians
How Smalls Sliders Compares
Category median of published Quick-Service Restaurants 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
- 45
- Opened
- 24
- 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
- 1%
- vs corporate-owned
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 55
- 1.22 per open outlet · Item 20 Table 5
- Projected new
- 31
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 23 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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- Indiana
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
73 current owners across 23 states.
- LA 19
- TX 13
- FL 8
- MO 5
- GA 3
- AL 2
- CA 2
- IA 2
- IL 2
- KS 2
- MS 2
- TN 2
- +11 more states
Counts only, from the list the franchisor prints in Item 20; 1 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
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 loan disclosures. This brand has only 5 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 5
- Loan volume
- $7.5M
- Median loan
- $1.4M
- 50th percentile
- Charge-off rate
- Under 10 loans (5)
- Insufficient SBA coverage: 5 loans, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (5)
- 5-yr charge-off
- Under 10 loans (5)
- Loans approved 2021+
- Active lenders
- 5
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Fast-growing QSR (net growth 377.8%) but with deeply negative franchisor net worth of -$13.6M and a net loss of -$4.0M on $8.0M revenue; financial_distress flagged. No litigation, no bankruptcy, no going-concern note, and financials are audited with Item 19 disclosed.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Bennett Thrasher LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY2025 total revenues $7,981,002 (franchise/development fees $1,458,000; royalties/related fees $5,057,718; advertising fees $1,465,284) vs FY2024 $4,177,266, per audited financial statements. Item 8 separately discloses $1,669,476 (24.7% of a stated $6,764,854 total revenue figure) from required franchisee purchases — this appears to be a different revenue base than the audited total.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: No
- Can negotiate own supplier terms: No
Score breakdown · what drove the 48 / 100 verdict
- 01MINORNegative net worth -$13,626,782
- 02MINORNet loss -$4,013,607 on revenue $7,981,002
- 03MEDOffsetting: no litigation, audited, Item 19 disclosed, rapid growth
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 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 15 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 4 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 0.8 mi |
| 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 | 15 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 2 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Georgia |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 17 hrs
- On-the-job training
- 147 hrs
- Training location
- On-site at franchisee's restaurant and franchisor's facility
- Ongoing training
- Required
- Site selection
- Franchisee proposes site; franchisor reviews and accepts/rejects within a designated Site Selection Area
- Franchisor financing
- Offered
- Item 10
- POS system
- Crunchtime (back-office); designated POS vendor
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Crunchtime (back-office); designated POS vendor
Item 20 · call current owners
Franchisee Contacts
74 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 Smalls Sliders franchise?
The total investment to open a Smalls Sliders franchise ranges from $1.4M – $2.1M, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Smalls Sliders franchise owners earn?
Item 19 of the Smalls Sliders FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Smalls Sliders?
Smalls Sliders is franchised by Smalls Sliders Franchising LLC. Its parent company is Smalls Holding, LLC. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Smalls Sliders 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 Smalls Sliders FDD and qualifies whose outlets they describe.
What is Smalls Sliders's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Smalls Sliders (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 Smalls Sliders franchise locations are there?
As of their most recent FDD filing, Smalls Sliders has 45 total units in the United States, including 43 franchised units and 2 company-owned units. 24 new units were opened in the latest reporting year.
Is Smalls Sliders a good franchise to buy?
FranchiseVerdict rates Smalls Sliders as a B-grade franchise with a verdict score of 48 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
Are you the franchisor?
If you represent Smalls Sliders, you can request corrections or provide updated information.
Other Quick-Service Restaurants franchises
Compare similar franchise opportunities in the Quick-Service Restaurants category
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.