Stalk & SpadeFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A STALK & SPADE franchise requires a total initial investment of $767K – $1.3M, including a $65K franchise fee and an ongoing 7.0% royalty[2]. The 2022 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: F. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2022 FDD issuance
Overview
- Investment
- $767K – $1.3M
- 40th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 7.0%
- 42nd pct Service Resta…
- Units
- 1
- 2nd 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
Bottom line
- Total investment $767K – $1.3M including a $65K franchise fee, 7.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict F (Bottom Quintile) with a risk score of 79/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Stalk & Spade Franchising LLC
- Parent company
- Stalk & Spade LLC
- CEO title
- Chief Executive Officer
- Steele Smiley
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- MN
- HQ
- 746 Mill Street E, Wayzata, MN 55391
- Auditor
- CliftonLarsonAllen LLP
- Audited financials
- Franchisor revenue
- $96K
- Most recent fiscal year
Overview
About
STALK & SPADE appears to be a garden design, landscaping, or horticultural retail/service concept requiring franchisees to establish a storefront or service operation. Franchisees likely manage day-to-day customer service, project fulfillment, inventory (if retail), staff management, and local marketing within their protected territory. Without disclosed revenue data, the operational complexity and profitability remain opaque.
- CEO
- Steele Smiley
- Headquarters
- MN
- Founded
- 2020
- FDD year
- 2022
- States available
- 1
FDD Item 7 · 2022 filing · 17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Background Check Feenot refundable | $650 | $650 | |
| Initial Franchise Feenot refundable | $55K | $65K | |
| Stalk & Spade To Go Locationnot refundable | $0 | $5K | |
| Architectural Plansnot refundable | $10K | $20K | |
| Furniture, Fixtures and Suppliesnot refundable | $60K | $75K | |
| Travel and living expenses while trainingnot refundable | $3K | $8K | |
| Signage (interior and exterior)not refundable | $13K | $30K | |
| Purchase and installation of commercial kitchennot refundable | $230K | $290K | |
| Premises construction and improvementsnot refundable | $295K | $610K | |
| Real estate and utility security deposits and 3 months' rent | $11K | $60K | |
| Licenses and permitsnot refundable | $4K | $8K | |
| Computer System (including installation of POS and inventory technology systems)not refundable | $13K | $25K | |
| Insurancenot refundable | $1K | $10K | |
| Opening Marketing Spendnot refundable | $10K | $20K | |
| Miscellaneous opening costsnot refundable | $5K | $10K | |
| Opening inventorynot refundable | $8K | $13K | |
| Additional funds for three months of operations (excluding labor costs)not refundable | $50K | $75K | |
| Total initial investment | $767K | $1.3M |
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
- $767K – $1.3M
- Near category avg vs category
- Liquid capital req'd
- $50K – $75K
- Better than avg vs category
- Franchise fee
- $65K – $65K
- Near category avg vs category
- Royalty
- 7.0%
- Gross Sales · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $745 |
| Training fee | $500 |
| Transfer fee | $65K |
| Renewal fee | $32K |
| Total fee load | 9.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Stalk & Spade Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1
- Opened
- 0
- 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
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 2
- Franchisor's next-year forecast
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).
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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
STALK & SPADE presents high risk: going concern status, single-unit system, zero disclosed financials, and capital-intensive model create conditions for franchisee loss.
Litigation (Item 3)
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · CliftonLarsonAllen LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 79 / 100 rating
- 01HIGHGoing Concern warning indicates the franchisor may be financially unstable or facing operational viability issues
- 02MINOROnly 1 existing unit suggests minimal system track record, no proven replicable model, and extreme difficulty validating performance claims
- 03MINORNo average revenue or net income disclosure (no Item 19) prevents ROI assessment and suggests franchisor cannot or will not demonstrate unit profitability
- 04MINORHigh initial investment range ($767K–$1.3M) paired with unproven economics creates severe downside risk
- 05MINORUnknown growth trajectory with single unit indicates stagnation or inability to scale; no growth pipeline communicated
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 | 10 years |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 3 years |
| Non-compete (miles)ℹ | 15 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Wayzata, MN |
| Jury trial waiver | Yes |
| Governing law | Minnesota |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 14 hrs
- On-the-job training
- 94 hrs
- Training location
- On-site and corporate
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
4 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
STALK & SPADE · FDD (2022) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a STALK & SPADE franchise?
The total investment to open a STALK & SPADE franchise ranges from $767K – $1.3M, with an initial franchise fee of $65K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do STALK & SPADE franchise owners earn?
STALK & SPADE does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is STALK & SPADE's franchise failure rate?
SBA 7(a) loan charge-off data is not available for STALK & SPADE (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 STALK & SPADE franchise locations are there?
As of their most recent FDD filing, STALK & SPADE has 1 total units in the United States, including 0 franchised units and 1 company-owned units.
Is STALK & SPADE a good franchise to buy?
FranchiseVerdict rates STALK & SPADE as a F-grade franchise with a risk score of 79 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.
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.