Spray-Net Franchise Cost, Revenue & Review 2026
- Investment
- $191K – $255K
- Disclosed sales
- partial, no system average
- SBA charge-off
- 41.7%
- on 38 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Spray-Net is a home services franchise that spray-paints and coats exterior surfaces like siding, brick, and windows for a factory-like finish. Franchisees run mobile operations, managing sales, crews, and on-site application.
FranchiseVerdict summary · 2026
A Spray-Net franchise requires a total initial investment of $191K – $255K, including a $55K franchise fee and an ongoing 7.0% royalty[2]. The 2026 FDD on file does not yield a unit-revenue figure we can publish. SBA 7(a) loans show a 41.7% charge-off rate across 38 loans[1]. FranchiseVerdict grade: D (Below 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 scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $191K – $255K
- 75th pct Home Services
- Avg gross sales
- N/A
- Royalty
- 7.0%
- 48th pct Home Services
- Units
- 35
- 36th pct Home Services
- SBA charge-off
- 41.7%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Home Services · color = vs category peers
Green = favorable by >10% vs Home Services 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 $191K – $255K including a $55K franchise fee, 7.0% ongoing royalty.
- RETURNSAmounts are stated in CANADIAN DOLLARS. This Item 19 reports historical results for Canadian businesses operated under the brand by the franchisor's affiliate SN Canada, and the filing states the figures are given "in Canadian Dollars because (i) that is how the sales were reported to us by our affiliate". The published figure has NOT been converted to US dollars, so it is not directly comparable with the US-dollar averages shown for other brands, and it describes an affiliate's Canadian operations rather than the US franchised system offered by this disclosure document.
- RISKVerdict D (Below average), verdict score 31/100 (higher is better). SBA loan charge-off rate of 41.7% across 38 loans (well above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +6 franchised outlets in the latest year (10 opened, 4 closed); 5 signed but not yet open (Item 20).
- FLAG4 units terminated last reporting year (11.4% of the system). Ask existing franchisees why.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Spray-Net Inc.
- Parent company
- Spray-Net International, Inc. (SN International)
- FDD Item 1, page 10 of the 2026 FDD
- Ultimate parent
- Groupe Spray-Net, Inc.
- FDD Item 1, page 11 of the 2026 FDD
- CEO title
- Chief Executive Officer
- Carmelo Marsala
- Incorporated in
- Delaware
- HQ
- 1490 De Coulomb Street, Boucherville J4B 7M2, Quebec, Canada
- Auditor
- Muhammad Zubairy, CPA PC
- Audited financials
- Franchisor revenue
- $2.7M
- vs $2.6M prior year
Affiliated brands
- SN Franchisor Canada
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Carmelo Marsala
- Headquarters
- Quebec, Canada (not a US state)
- Founded
- 2016
- FDD year
- 2026
- States available
- 15
Can you afford it, and what does the money buy?
Entry cost runs 33% above the typical home services franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown20 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $55K | $55K | |
| Initial Training Fee | $15K | $15K | |
| Initial Marketing Investment | $20K | $30K | |
| Bookkeeping Service (Setup & First 3 Months) | $2K | $2K | |
| Business Management Software (First 3 Months) | $1K | $1K | |
| Call Center (First 3 Months) | $870 | $870 | |
| Equipment | $25K | $35K | |
| Production Supplies Kit | $11K | $12K | |
| Sales Kit | $8K | $9K | |
| Pick-Up / Approved Vehicle Package | $3K | $8K | |
| Permits, Deposits, Business Licenses, Legal and Accounting Fees | $2K | $4K | |
| Travel and Living Expenses during Initial Training | $2K | $4K | |
| Insurance | $4K | $6K | |
| Marketing Kit | $5K | $8K | |
| Spray-Pal (First 3 Months) | $120 | $120 | |
| Computer Hardware | $1K | $2K | |
| Approved Vehicle - Lease Payments for 3 Months | $0 | $4K | |
| Home Show Booth | $6K | $8K | |
| Mobile Services Unit | $2K | $15K | |
| Additional Funds for First 3 Months | $30K | $40K | |
| Total initial investment | $191K | $255K |
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
- $191K – $255K
- Bottom third — review vs category
- Liquid capital req'd
- $30K – $40K
- Middle of category vs category
- Franchise fee
- $55K – $55K
- 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
- 10.0%
- vs 9–13% typical
- Payback period
- 6.7 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $100 |
| Transfer fee | $10K |
| Renewal fee | $10K |
| Inventory (initial) | $11K – $12K |
| Total fee load | 10.0% of rev |
What do units actually make?
Source: FDD 2026 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings
The FDD reports $61K as Estimated EBITDA (Estimated Gross Profit less Disclosed Expenses Percentages and Estimated Expenses) USD. This is a disclosed figure, not our estimate — we publish no modelled profit for Spray-Net.
No Item 19 revenue figure for Spray-Net 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 Spray-Net 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
Amounts are stated in CANADIAN DOLLARS. This Item 19 reports historical results for Canadian businesses operated under the brand by the franchisor's affiliate SN Canada, and the filing states the figures are given "in Canadian Dollars because (i) that is how the sales were reported to us by our affiliate". The published figure has NOT been converted to US dollars, so it is not directly comparable with the US-dollar averages shown for other brands, and it describes an affiliate's Canadian operations rather than the US franchised system offered by this disclosure document.
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.
Item 19 detail
Amounts are stated in CANADIAN DOLLARS. This Item 19 reports historical results for Canadian businesses operated under the brand by the franchisor's affiliate SN Canada, and the filing states the figures are given "in Canadian Dollars because (i) that is how the sales were reported to us by our affiliate". The published figure has NOT been converted to US dollars, so it is not directly comparable with the US-dollar averages shown for other brands, and it describes an affiliate's Canadian operations rather than the US franchised system offered by this disclosure document.
maturity cohort
| Segment | Sample | Avg |
|---|---|---|
| US Disclosed Businesses - Less Than 2 Years in Operation | 3 | $332K |
| US Disclosed Businesses - 2 to 4 Years in Operation | 7 | — |
| US Disclosed Businesses - 4+ Years in Operation | 2 | $823K |
affiliate cohort foreign currency
| Segment | Sample | Avg |
|---|---|---|
| CN Businesses - 2025 Calendar Year | 13 | $1.2M |
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 10.0% — above the Home Services median of 8.0%.
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 136.4% CAGR over 3 years across 35 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 Home Services medians
How Spray-Net Compares
Category median of published Home Services 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
- 35
- Opened
- 10
- Last reporting year
- Closed
- 4
- Terminated
- 4
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 11.4%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +136.4%
- Net unit change over 3 years
- 3-yr CAGR
- +136.4%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 4
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 5
- 0.14 per open outlet · Item 20 Table 5
- Projected new
- 5
- Franchisor's next-year forecast
- Termination rate
- 18.2%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 18 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
- Michigan
- South Dakota
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
27 current owners across 16 states; 12 former (terminated, transferred or not renewed) listed separately.
- TX 6
- FL 4
- TN 3
- UT 2
- AZ 1
- CO 1
- GA 1
- IL 1
- IN 1
- KY 1
- MI 1
- NC 1
- +4 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.
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
- 38
- Loan volume
- $6.2M
- Median loan
- $164K
- average
- Charge-off rate
- 41.7%
- on 38 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)
- N/A
- 5-yr charge-off
- 41.7%
- Loans approved 2021+
- Active lenders
- 6
- Defaults
- 5
Vintage analysis
Spray-Net charge-off rate by loan vintage
Top lenders financing Spray-Net franchisees
Showing 3 of 6 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 Spray-Net from SBA 7(a) FOIA data.
Top SBA lenders
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | United Midwest Savings Bank National Association | 19 | $2.9M | 55.6% |
| 2 | The Huntington National Bank | 10 | $1.4M | 0.0% |
| 3 | Centennial Bank | 4 | $582K | N/A |
| 4 | First Bank of the Lake | 3 | $960K | N/A |
| 5 | Readycap Lending, LLC | 1 | $169K | N/A |
| 6 | The Bank of Houston | 1 | $230K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 9 | 3 | 75.0% |
| FLFlorida | 4 | 0 | 0.0% |
| COColorado | 3 | 0 | 0.0% |
| NCNorth Carolina | 3 | 1 | 50.0% |
| INIndiana | 2 | 0 | -- |
| MIMichigan | 2 | 0 | -- |
| NJNew Jersey | 2 | 0 | -- |
| OHOhio | 2 | 1 | 100.0% |
| TNTennessee | 2 | 0 | -- |
| UTUtah | 2 | 0 | -- |
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
A 41.7% charge-off rate means roughly 1 in 2 franchisees failed to repay their SBA loan. Investigate what changed.
What could kill this investment?
SBA loans charge off at 41.7% — 160% above the 16.0% national norm, i.e. higher 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
One pending arbitration in which a former Canadian franchisee alleges a materially deficient FDD and seeks rescission/damages; the franchisor is defending. Otherwise sound: no going-concern, no bankruptcy, audited, Item 19 disclosed, strong unit growth (+136%) on 26 units.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Former Canadian franchisee alleged non-compliant disclosure under Ontario's Arthur Wishart Act; arbitration and parallel civil action; settled for $285,000 CAD payable through Nov 15, 2026, no admission of liability.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Muhammad Zubairy, CPA PC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: No
- Can negotiate own supplier terms: No
Score breakdown · what drove the 31 / 100 verdict
- 01MINOR1 pending arbitration (FDD-deficiency/rescission claim)
- 02MINORNo going-concern, no financial distress
- 03MEDNo net worth disclosed but revenue $1,807,479
- 04MEDAudited, Item 19 disclosed
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 10.0% 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 | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory population | 75,000 |
| 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 | 50 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 60 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 1 |
View Item 3 litigation summary
Former Canadian franchisee alleged non-compliant disclosure under Ontario's Arthur Wishart Act; arbitration and parallel civil action; settled for $285,000 CAD payable through Nov 15, 2026, no admission of liability.
Items 10, 11
Training & Operations
- Classroom training
- 64 hrs
- On-the-job training
- 74 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Site selection
- franchisor
- Franchisor financing
- Not offered
- Item 10
- POS system
- Spray-Network
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Spray-Network
Item 20 · call current owners
Franchisee Contacts
39 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 Spray-Net franchise?
The total investment to open a Spray-Net franchise ranges from $191K – $255K, with an initial franchise fee of $55K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Spray-Net franchise owners earn?
Item 19 of the Spray-Net 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 Spray-Net?
Spray-Net is franchised by Spray-Net Inc.. Its parent company is Spray-Net International, Inc. (SN International). The ultimate parent named in the FDD is Groupe Spray-Net, Inc.. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Spray-Net 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 Spray-Net FDD and qualifies whose outlets they describe.
What is Spray-Net's franchise failure rate?
Based on SBA 7(a) loan data, Spray-Net has a charge-off rate of 41.7% across 38 loans, meaning 41.7% 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 Spray-Net franchise locations are there?
As of their most recent FDD filing, Spray-Net has 35 total units in the United States, including 35 franchised units and 0 company-owned units. 10 new units were opened in the latest reporting year.
Is Spray-Net a good franchise to buy?
FranchiseVerdict rates Spray-Net as a D-grade franchise with a verdict score of 31 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.