SpitzFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Spitz franchise requires a total initial investment of $579K – $1.2M, including a $35K franchise fee and an ongoing 5.5% royalty[2]. Per the 2025 FDD, average unit revenue was $1.8M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $579K – $1.2M
- 36th pct Service Resta…
- Avg gross sales
- $1.8M
- 19th pct Service Resta…
- Royalty
- 5.5%
- 24th pct Service Resta…
- Units
- 25
- 30th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
The system grew 33% year-over-year. Fast growth means demand, but can strain support.
24% cash-on-cash return (based on P&L Bottom Line). Within the 15-30% range most franchise investors consider acceptable.
Bottom line
- Total investment $579K – $1.2M including a $35K franchise fee, 5.5% ongoing royalty.
- Average unit revenue of $1.8M/year (median $1.7M), with an estimated 24% cash-on-cash return (based on P&L Bottom Line).
- Verdict A (Top Quintile) with a risk score of 5/100.
- System growing at 100.0% CAGR over 3 years with 25 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Radwick Franchising, LLC
- Parent company
- None
- CEO title
- President
- Bryce Rademan
- CEO experience
- 19 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- DE
- HQ
- 1725 Hillhurst Ave, Los Angeles, California 90027
- Auditor
- SingerLewak
- Audited financials
- Franchisor revenue
- $1.5M
- vs $2.0M prior year
Overview
About
Spitz franchisees operate fast-casual restaurants specializing in what appears to be Middle Eastern or Mediterranean cuisine (likely pita/kebab-based offerings). Day-to-day operations involve food preparation, customer service, inventory management, and local marketing to drive the stated $1.84M average unit volume.
- CEO
- Bryce Rademan
- Headquarters
- CA
- Founded
- 2013
- FDD year
- 2025
- States available
- 8
FDD Item 7 · 2025 filing · 31 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Utility Deposits, Fees and Licenses | $500 | $4K | |
| Architectural and Engineering Fees | $15K | $30K | |
| Real Estate Improvements | $2K | $5K | |
| Leasehold/Construction | $300K | $565K | |
| Signage | $10K | $40K | |
| POS System and Software | $4K | $6K | |
| Furniture, Fixtures and Equipment | $130K | $180K | |
| Opening Inventory | $5K | $15K | |
| Beverage License Costs | $5K | $110K | |
| Grand Opening and Initial Advertising Expenditure | $6K | $10K | |
| Spitz Restaurant Premises (3 Months' Rent and one Month's Lease Deposit)not refundable | $28K | $56K | |
| Insurance - Liability & Workers Compensation (initial deposit) | $1K | $4K | |
| Legal Fees/Organizational Expenses | $3K | $5K | |
| Training Expenses (Including Travel and Living Expenses) | $5K | $10K | |
| Initial Franchise Fee | $35K | $35K | |
| Additional Funds (3 months) | $30K | $75K | |
| Food Truck | $150K | $160K | |
| Business and Food Truck Licenses | $500 | $2K | |
| POS System and Software (Food Truck) | $4K | $6K | |
| Opening Inventory (Food Truck) | $8K | $12K | |
| Total initial investment | $1.1M | $2.2M |
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.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$193K
10.5% margin
Unlevered ROIC
21%
EBITDA / total invested capital
Payback
4.7 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $579K – $1.2M
- Better than avg vs category
- Liquid capital req'd
- $30K – $75K
- Better than avg vs category
- Franchise fee
- $35K – $35K
- Better than avg vs category
- Royalty
- 5.5%
- Gross Revenue · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.5%
- vs 9–13% typical
- Payback period
- 4.2 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.5% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $4K |
| Transfer fee | $18K |
| Renewal fee | $18K |
| Total fee load | 7.5% of rev |
Financial Performance
- Avg gross sales
- $1.8M
- Per unit, per year
- Median gross sales
- $1.7M
- Avg p&l bottom line
- $205K
- Reported as P&L Bottom Line in FDD Item 19
- Cash-on-cash
- 23.7%
- Based on P&L Bottom Line / investment midpoint
- Item 19 type
- Historical
- Sample size
- 14 units
- vs category median 13
- Range (low → high)
- $1.3M→$2.7M
- Cohort dispersion (min → max)
- Transparency
- 10 / 5
- vs category median 4 / 5 · above
Compared against 1264 Full-Service Restaurants brands
vs Full-Service Restaurants averages
How Spitz Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 25
- Opened
- 6
- 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
- 0.0%
- Company-owned
- 5
- Corporate units in the system
- % franchised
- 80%
- vs corporate-owned
- Net growth (yr3)
- +33.3%
- Net unit change last year
- 3-yr CAGR
- +100.0%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 7
- Franchisor's next-year forecast
- Termination rate
- 4.0%
- Franchisor-initiated terminations
- Ceased ops
- 4.0%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 5 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.
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
- 31
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Moderate-risk growth-stage franchise lacking transparent financial disclosures and operating with aggressive unit expansion; suitable for experienced operators with capital cushion but requiring thorough franchisee validation.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · SingerLewak
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 5 / 100 rating
- 01MEDNo Item 19 (Financial Performance Representations) disclosed — cannot independently verify the $1.84M average revenue or $204K net income claims
- 02MINORRapid unit growth (33.3% YoY) from small base (25 units) suggests either strong traction or unsustainable expansion; sustainability unclear
- 03MINORRoyalty structure ($125/week minimum = $6,500 annually) creates fixed cost burden even if revenue drops significantly below $227K annually
- 04MEDHigh investment range ($579K–$1.15M) relative to disclosed net income ($204K) means 2.8–5.6 year ROI under ideal conditions
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rights | 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 |
| Transfer requires consent | Yes |
| Termination notice | 10 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 28 hrs
- On-the-job training
- 70 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- POS system
- Toast
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast
Item 20 · call current owners
Franchisee Contacts
6 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Spitz · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Spitz franchise?
The total investment to open a Spitz franchise ranges from $579K – $1.2M, 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 Spitz franchise owners earn?
According to Item 19 of the Spitz FDD, the average gross sales per unit is $1.8M. The median is $1.7M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Spitz's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Spitz (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 Spitz franchise locations are there?
As of their most recent FDD filing, Spitz has 25 total units in the United States, including 10 franchised units and 5 company-owned units. 6 new units were opened in the latest reporting year.
Is Spitz a good franchise to buy?
FranchiseVerdict rates Spitz as a A-grade franchise with a risk score of 5 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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.
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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.