Stroll Or Greet Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Stroll, with its Greet program, is a franchise publishing hyper-local, resident-funded community magazines mailed to affluent neighborhoods. Franchisees run a local edition selling advertising to nearby businesses and coordinating content and distribution.
FranchiseVerdict summary · 2026
A STROLL or GREET franchise requires a total initial investment of $2K – $13K, including a $735 franchise fee and an ongoing 15.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $2K – $13K
- 1st pct Business Serv…
- Avg gross sales
- N/A
- Royalty
- 15.0%
- 38th pct Business Serv…
- Units
- 695
- 63rd pct Business Serv…
- SBA charge-off
- N/A
Quick verdict · Business Services · color = vs category peers
Green = favorable by >10% vs Business Services avg · 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 $2K – $13K including a $735 franchise fee, 15.0% ongoing royalty.
- RETURNSPages 215-221 of this exhibit folder do not contain audited financial statements. p215-220 are Exhibit E (N2 Company Franchise Brand Standards Manual Table of Contents) and p221 is the first page of Exhibit F (N2 Franchisee Services Agreement). No balance sheet, income statement, or Independent Auditor's Report is present in any image, so no financial figures could be extracted. The franchisor entity is The N2 Company (a Delaware corporation, principal place of business Irving, Texas).
- RISKVerdict A (Strongest tier), verdict score 68/100 (higher is better).
- DATAItem 19 reports gross rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- N2 Franchising, Inc.
- Parent company
- The N2 Company (affiliate)
- CEO title
- Chief Executive Officer and President
- JP Hamel
- CEO experience
- 2025 yrs
- Years in role or industry
- Incorporated in
- Delaware
- HQ
- 9151 Currency Street, Irving, Texas 75063
- Auditor
- A&G LLP
- Audited financials
- Franchisor revenue
- $77.5M
- vs $82.5M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- JP Hamel
- Headquarters
- TX
- Founded
- 2016
- FDD year
- 2025
- States available
- 44
Can you afford it, and what does the money buy?
Entry cost runs 97% below the typical business services franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown11 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $735 | $735 | |
| Office Furniture & Equipmentnot refundable | $0 | $3K | |
| Computer Hardware & Softwarenot refundable | $0 | $3K | |
| Office Supplies and Stationerynot refundable | $90 | $125 | |
| Insurance Coverage (1 year)not refundable | $400 | $650 | |
| Initial Training Expensesnot refundable | — | — | |
| Attorney and Accountant Professional Feesnot refundable | $0 | $2K | |
| Licenses and Permitsnot refundable | $0 | $500 | |
| Entity Formationnot refundable | $100 | $500 | |
| Postcard Marketingnot refundable | $250 | $2K | |
| Additional Funds (for first 3 months of operation)not refundable | $600 | $1K | |
| Total initial investment | $2K | $13K |
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
- $2K – $13K
- Top 40% of category vs category
- Liquid capital req'd
- $600 – $1K
- Top 40% of category vs category
- Franchise fee
- $735 – $735
- Top 40% of category vs category
- Royalty
- 15.0%
- percentage · typical 6–8%
- Ad fund
- Not required to participate in an advertising fund; no ad…
- Total fee load
- 15.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 15.0% of gross sales |
| Technology fee | $250 |
| Transfer fee | $735 |
| Total fee load | 15.0% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
STROLL or GREET did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one STROLL or GREET unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
459%
Above the 30–60% band. Verify revenue is per-unit average
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
Pages 215-221 of this exhibit folder do not contain audited financial statements. p215-220 are Exhibit E (N2 Company Franchise Brand Standards Manual Table of Contents) and p221 is the first page of Exhibit F (N2 Franchisee Services Agreement). No balance sheet, income statement, or Independent Auditor's Report is present in any image, so no financial figures could be extracted. The franchisor entity is The N2 Company (a Delaware corporation, principal place of business Irving, Texas).
- Item 19 type
- gross
- Quartile band
- $24K→$178K
- Bottom 25% → top 25%
- Source filing
- FDD 2025
- The FDD edition these figures were read from
- Transparency
- 0 / 10
- vs category median 3 / 10 · below
Compared against 296 Business Services brands
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 15.0% — above the Business Services average of 11.9%.
Disclosure
Item 19 reports gross rather than annual gross sales, so unit revenue is not directly comparable.
Operator retention
System roughly stable (+5.0% 3-year CAGR) with 695 units.
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 Business Services averages
How Stroll Or Greet Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 695
- Opened
- 353
- Last reporting year
- Closed
- 312
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 51.4%
- Company-owned
- 86
- Corporate units in the system
- % franchised
- 88%
- vs corporate-owned
- Net growth (3-yr)
- +5.0%
- Net unit change over 3 years
- 3-yr CAGR
- +5.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 353
- Closed (3yr)
- 312
- Terminated (3yr)
- 1
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 11
- Reacquired (3yr)
- 44
- Franchisor bought back
- Transfer rate
- 1.8%
- Owners selling to other franchisees
- Continuity rate
- 60.2%
- Units that stayed open
- Termination rate
- 0.2%
- Franchisor-initiated terminations
- Ceased ops
- 50.3%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 46 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.
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
A shrinking franchise system with a documented history of regulatory violations for improper franchise sales and disclosure—combined with zero financial transparency and opaque royalty mechanics—presents material operational and legal risk.
Litigation (Item 3)
Two administrative consent orders against affiliate Neighborhood Networks Publishing, Inc. (now The N2 Company): California DFPI Order I.D. 337865 (Oct 2020 consent order, cease-and-desist plus $10,000 reimbursement of investigative costs for pre-2016 franchise sales without disclosure documents); and Washington DFI Securities Division Order No. S-18-2456-18-CO01 (Apr 2019 consent order, comply with and cease-and-desist violations of the WA Franchise Investment Protection Act plus $4,000 reimbursement). No other litigation required to be disclosed.
Largest disclosed settlement: $10,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · A&G 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: No
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 68 / 100 verdict
- 01MINORDeclining unit count (-0.7% YoY) indicates contracting system despite low barrier to entry
- 02HIGHMaterial litigation history: consent orders in CA (2020) and WA (2018/2019) for illegal franchise sales and disclosure violations—suggests compliance issues at corporate level
- 03MINORNo average revenue or net income disclosure (Item 19) prevents financial validation of business model viability
- 04MINORUnusual royalty structure (15% of 'advertising value' rather than gross revenue) is opaque and difficult to audit
- 05MINORNo protected territory creates direct competition among franchisees in same market
- 06MINORShort 3-year term limits franchisee planning horizon and increases renewal risk
- 07MINORRegulatory actions specifically for selling franchises improperly raises questions about current FDD accuracy and completeness
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 15.0% 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 | 3 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Territory type | none |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Irving, Texas (AAA office nearest franchisor's principal place of business) |
| Jury trial waiver | Yes |
| Governing law | TX |
| Litigation count | 2 |
View Item 3 litigation summary
Two administrative consent orders against affiliate Neighborhood Networks Publishing, Inc. (now The N2 Company): California DFPI Order I.D. 337865 (Oct 2020 consent order, cease-and-desist plus $10,000 reimbursement of investigative costs for pre-2016 franchise sales without disclosure documents); and Washington DFI Securities Division Order No. S-18-2456-18-CO01 (Apr 2019 consent order, comply with and cease-and-desist violations of the WA Franchise Investment Protection Act plus $4,000 reimbursement). No other litigation required to be disclosed.
Items 10, 11
Training & Operations
- Classroom training
- 12 hrs
- On-the-job training
- 9 hrs
- Training location
- Virtual / Live Webinar
- Ongoing training
- Required
- Time to open
- 4 mo
- From signing to launch
- POS system
- Publisher Hero
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Publisher Hero
Item 20 · call current owners
Franchisee Contacts
504 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
STROLL or GREET · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a STROLL or GREET franchise?
The total investment to open a STROLL or GREET franchise ranges from $2K – $13K, with an initial franchise fee of $735. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do STROLL or GREET franchise owners earn?
STROLL or GREET 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 Item 19 in the STROLL or GREET 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 STROLL or GREET FDD and qualifies whose outlets they describe.
What is STROLL or GREET's franchise failure rate?
SBA 7(a) loan charge-off data is not available for STROLL or GREET (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 STROLL or GREET franchise locations are there?
As of their most recent FDD filing, STROLL or GREET has 695 total units in the United States, including 609 franchised units and 86 company-owned units. 353 new units were opened in the latest reporting year.
Is STROLL or GREET a good franchise to buy?
FranchiseVerdict rates STROLL or GREET as a A-grade franchise with a verdict score of 68 out of 100 (higher is better), 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
Are you the franchisor?
If you represent STROLL or GREET, you can request corrections or provide updated information.
Other Business Services franchises
Compare similar franchise opportunities in the Business Services 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.