Smash My Trash Franchise Cost, Revenue & Review 2026
- Investment
- $372K – $492K
- Disclosed sales
- $876K
- gross sales, not profit
- SBA charge-off
- 0.0%
- on 101 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Smash My Trash is a B2B franchise that sends a specialized truck to compact commercial dumpster waste on site, cutting haul-away costs and pickups. Franchisees run a route-based service selling to businesses and operating the smasher truck.
FranchiseVerdict summary · 2026
A Smash My Trash franchise requires a total initial investment of $372K – $492K, including a $30K – $50K franchise fee and an ongoing 8.0% royalty[2]. Per the 2025 FDD, average revenue per franchisee was $876K. This franchisor reports Item 19 per franchisee rather than per outlet, so the figure is not comparable with per-outlet averages[2]. SBA 7(a) loans show a 0.0% charge-off rate across 101 loans[1]. FranchiseVerdict grade: A (Strongest tier), 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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $372K – $492K
- 81st pct Cleaning & Ma…
- Avg gross sales
- $876K
- Per franchisee, not per outlet
- Royalty
- 8.0%
- 56th pct Cleaning & Ma…
- Units
- 520
- 84th pct Cleaning & Ma…
- SBA charge-off
- 0.0%
- % of SBA 7(a) loans not repaid · median varies by category
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 $372K – $492K including a $50K franchise fee, 8.0% ongoing royalty.
- RETURNSAverage revenue per franchisee of $876K/year (median $705K). Averaged per franchisee, not per outlet - not comparable with per-outlet figures.
- RISKVerdict A (Strongest tier), verdict score 74/100 (higher is better). SBA loan charge-off rate of 0.0% across 101 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +8 franchised outlets in the latest year (34 opened, 26 closed); 8 signed but not yet open (Item 20).
- GROWTHSystem growing at 5550.0% CAGR over 3 years with 520 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Smash Franchise Partners, LLC
- Parent company
- SMT Holdings, LLC
- FDD Item 1, page 9 of the 2025 FDD
- CEO title
- President
- Justin Haskin
- Incorporated in
- Indiana
- HQ
- 17437 Carey Road, Suite 164, Westfield, IN 46074
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $15.0M
- vs $15.3M prior year
Same owner · FDD Item 1, page 9
1 other brand on this site name SMT Holdings, LLC as parent or ultimate parent in their own FDD.
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
- Justin Haskin
- Headquarters
- IN
- Founded
- 2018
- FDD year
- 2025
- States available
- 37
Can you afford it, and what does the money buy?
Entry cost runs 155% above the typical cleaning & maintenance franchise.
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 | $50K |
| Equipment, build-out, other | $293K | $393K |
| Total initial investment | $372K | $492K |
Source: Smash My Trash 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
- $372K – $492K
- Bottom third — review vs category
- Liquid capital req'd
- $30K – $50K
- Middle of category vs category
- Franchise fee
- $30K – $50K
- Middle of category vs category
- Royalty
- 8.0%
- Set by a formula · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $700 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales run 63% above the cleaning & maintenance norm.
Averaged per franchisee, not per outlet - not comparable with per-outlet figures
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 Smash My Trash 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
$472K
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 Smash My Trash 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
Averaged per franchisee, not per outlet - not comparable with per-outlet figures
- Avg gross sales
- $876K
- Per franchisee, per year — not per outlet
- Median gross sales
- $705K
- Per franchisee, not per outlet
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical financial performance (Gross Sales, Fuel Costs, Maintenance/Repair Costs, Payroll Costs, Adjusted EBITDA, Profit Margin) segmented by tenure, operating model, and territory count
- Sample size
- 110 franchisees
- vs category median 32 · large
- Range (low → high)
- $55K→$6.6MCited, not corroborated — printed on page 66 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- 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
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
The average franchisee generates $876K/year in gross sales. Median is $705K — top performers pull the average up, so a typical unit earns less.
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 5550.0% CAGR over 3 years across 520 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 Cleaning & Maintenance medians
How Smash My Trash Compares
Per franchisee, not per outlet - the category median is per-outlet only, so no comparison is shown
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
- 520
- Opened
- 34
- Last reporting year
- Closed
- 26
- Terminated
- 24
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 5.0%
- Company-owned
- 16
- Corporate units in the system
- % franchised
- 1%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Terminated
- 24
- Not renewed
- 0
- Transferred
- 5
- Reacquired
- 2
- Franchisor bought back
- Signed, not yet open
- 8
- 0.02 per open outlet · Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 35 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.
Where the owners are · Item 20 owner list
96 current owners across 33 states; 13 former (terminated, transferred or not renewed) listed separately.
- CA 15
- FL 12
- OH 6
- GA 5
- TX 5
- MI 4
- CO 3
- KY 3
- LA 3
- NC 3
- NJ 3
- AZ 2
- +21 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 101
- Loan volume
- $38.3M
- Median loan
- $325K
- 50th percentile
- Charge-off rate
- 0.0%
- on 101 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 42
- Defaults
- 0
- Typical loan rate
- 5.8%
- avg rate to borrowers
- Franchised industry avg
- 3.3%
- brand beats franchise avg ↓
- Jobs supported
- 672
- 1.8 per loan
- Lender concentration
- 13%
- top lender's share
Borrower mix: 93% went to startups / new businesses, 7% to established operators
Franchise vs independent — in solid waste collection, franchised businesses charge off at 3.3% vs 7.4% for independents — franchising is associated with 55% lower SBA default risk in this category.
Vintage analysis
Smash My Trash charge-off rate by loan vintage
Top lenders financing Smash My Trash franchisees
Showing 3 of 42 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 Smash My Trash from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 76%
- Avg interest rate
- 5.78%
- Lender concentration
- 12.9%
- Job velocity
- 1.8 per $100K
- Startup risk premium
- 0.0pp
- NAICS benchmark
- 0.0%
- NAICS 562111
- Jobs supported
- 672
Top SBA lendersTop lender holds 13% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 13 | $3.3M | 0.0% |
| 2 | Ameris Bank | 8 | $3.9M | 0.0% |
| 3 | Old National Bank | 7 | $3.8M | 0.0% |
| 4 | United Midwest Savings Bank National Association | 5 | $750K | 0.0% |
| 5 | Brookline Bank, a Division of Beacon Bank and Trust | 5 | $3.0M | 0.0% |
| 6 | United Community Bank | 4 | $1.2M | 0.0% |
| 7 | Dogwood State Bank | 3 | $858K | 0.0% |
| 8 | Stock Yards Bank & Trust Company | 3 | $759K | 0.0% |
| 9 | SouthState Bank, National Association | 3 | $878K | 0.0% |
| 10 | KeyBank National Association | 3 | $715K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| GAGeorgia | 13 | 0 | 0.0% |
| CACalifornia | 12 | 0 | 0.0% |
| FLFlorida | 9 | 0 | 0.0% |
| OHOhio | 8 | 0 | 0.0% |
| MAMassachusetts | 7 | 0 | 0.0% |
| TXTexas | 6 | 0 | 0.0% |
| INIndiana | 4 | 0 | 0.0% |
| MIMichigan | 4 | 0 | 0.0% |
| PAPennsylvania | 4 | 0 | -- |
| COColorado | 3 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
With a 0.0% charge-off rate across 101 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
4 disclosed cases: (1) Blanchat et al. arbitration - franchisees alleged misrepresentation under WA franchise law; arbitrator awarded plaintiffs $2,875,182.51 against franchisor, Haskin, and FastLane jointly; (2) Nathanson arbitration - settled, franchisor refunded $80,000 plus $67,475 truck deposit; (3) Allied Services/Republic Services v. Smash My Trash - franchisor's affiliate sued for property damage/interference, franchisor defending and counterclaiming, trial set for Jan 2023; (4) Ryan Haskin/Little Business v. Justin Haskin/SMT Holdings - sellers of parent company alleging misrepresentation of value, unspecified damages sought.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 74 / 100 verdict
- 01MINORFranchisee misrepresentation award $2,875,182.51 against franchisor
- 02HIGH4 litigation cases including refund settlement
- 03MEDOffsetting: audited, Item 19 disclosed, 115-unit system
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 | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory population | 200,000 |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 3 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 14 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Carmel, Indiana |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 6 |
View Item 3 litigation summary
4 disclosed cases: (1) Blanchat et al. arbitration - franchisees alleged misrepresentation under WA franchise law; arbitrator awarded plaintiffs $2,875,182.51 against franchisor, Haskin, and FastLane jointly; (2) Nathanson arbitration - settled, franchisor refunded $80,000 plus $67,475 truck deposit; (3) Allied Services/Republic Services v. Smash My Trash - franchisor's affiliate sued for property damage/interference, franchisor defending and counterclaiming, trial set for Jan 2023; (4) Ryan Haskin/Little Business v. Justin Haskin/SMT Holdings - sellers of parent company alleging misrepresentation of value, unspecified damages sought.
Items 10, 11
Training & Operations
- Classroom training
- 7 hrs
- On-the-job training
- 32 hrs
- Ongoing training
- Required
- Franchisor financing
- Not offered
- Item 10
- POS system
- Vonigo
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Vonigo
Item 20 · call current owners
Franchisee Contacts
109 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 Smash My Trash franchise?
The total investment to open a Smash My Trash franchise ranges from $372K – $492K, 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 Smash My Trash franchise owners earn?
According to Item 19 of the Smash My Trash FDD, the average gross sales per unit is $876K. The median is $705K. Important context: Averaged per franchisee, not per outlet - not comparable with per-outlet figures. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Smash My Trash?
Smash My Trash is franchised by Smash Franchise Partners, LLC. Its parent company is SMT Holdings, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Smash My Trash 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 Smash My Trash FDD and qualifies whose outlets they describe.
What is Smash My Trash's franchise failure rate?
Based on SBA 7(a) loan data, Smash My Trash has a charge-off rate of 0.0% across 101 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Smash My Trash franchise locations are there?
As of their most recent FDD filing, Smash My Trash has 520 total units in the United States, including 504 franchised units and 16 company-owned units. 34 new units were opened in the latest reporting year.
Is Smash My Trash a good franchise to buy?
FranchiseVerdict rates Smash My Trash as a A-grade franchise with a verdict score of 74 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.