Stroll Or GreetFranchise Cost, Revenue & Review 2026
Data from FDD filing
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]. Per the 2025 FDD, average unit revenue was $172K[2]. Verdict grade: B. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $2K – $13K
- 1st pct Business Serv…
- Avg gross sales
- $172K
- 4th pct Business Serv…
- Royalty
- 15.0%
- 32nd pct Business Serv…
- Units
- 620
- 52nd pct Business Serv…
- SBA default
- N/A
Quick verdict · Business Services · color = vs category peers
Green = >15% above Business Services 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
Each dollar invested generates 23.3x in gross revenue, well above the typical 1.5-2.5x range.
Franchised units fell from 548 to 540 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $2K – $13K including a $735 franchise fee, 15.0% ongoing royalty.
- Average unit revenue of $172K/year.
- Verdict B (Above Average) with a risk score of 57/100.
- No protected territory and the franchisor reserves the right to compete in your area. Clarify territorial boundaries before signing.
Item 1 · who you're contracting with
The Franchisor
- 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
- DE
- 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
Franchisees operate STROLL or GREET, a community magazine or local publication that relies on print advertising and distribution. Day-to-day activities include selling advertising space to local businesses, managing publication layout/printing, and distributing copies throughout an assigned territory. Revenue is derived from advertiser payments, with 15% flowing to corporate as a royalty based on advertising value.
- CEO
- JP Hamel
- Headquarters
- TX
- Founded
- 2016
- FDD year
- 2025
- States available
- 44
FDD Item 7 · 2025 filing · 11 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.
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
$9K
5.0% margin
Unlevered ROIC
105%
EBITDA / total invested capital
Payback
11 mo
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $2K – $13K
- Better than avg vs category
- Liquid capital req'd
- $600 – $1K
- Better than avg vs category
- Franchise fee
- $735 – $735
- Better than avg vs category
- Royalty
- 15.0%
- Advertising Value · typical 6–8%
- Ad fund
- -n/d
- 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 |
At 15.0% total fee load, roughly $26K per year goes to the franchisor before you pay a single operating expense.
Financial Performance
- Avg gross sales
- $172K
- Per unit, per year
- Median gross sales
- N/A
- Item 19 type
- net_income
- Sample size
- 394 units
- vs category median 32 · large
- Range (low → high)
- $7K→$336K
- Cohort dispersion (min → max)
- Quartile band
- $24K→$178K
- Bottom 25% → top 25%
- Transparency
- 0 / 5
- vs category median 3 / 5 · below
Compared against 360 Business Services brands
Revenue is 23.3x the investment midpoint. At typical franchise margins, this suggests a payback under 3 years.
vs Business Services averages
How Stroll Or Greet Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 620
- Opened
- 353
- Last reporting year
- Closed
- 312
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 50.3%
- Company-owned
- 80
- Corporate units in the system
- % franchised
- 87%
- vs corporate-owned
- Net growth (yr3)
- -0.7%
- Net unit change last year
- 3-yr CAGR
- -1.5%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 11
- 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.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
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 actions involving affiliate Neighborhood Networks Publishing, Inc. (The N2 Company): (1) California Department of Financial Protection and Innovation - FDD registration violations pre-2016; settled October 2020 with $10,000 reimbursement for investigative costs; (2) Washington Department of Financial Institutions Securities Division - franchise law violations pre-2017 application
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: No
- 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 57 / 100 rating
- 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
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 3 years |
|---|---|
| Allowed renewalsℹ | 0 |
| Territory type | non_exclusive |
| 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 |
| Jury trial waiver | Yes |
| Governing law | Texas |
| Litigation count | 2 |
View Item 3 litigation summary
Two administrative actions involving affiliate Neighborhood Networks Publishing, Inc. (The N2 Company): (1) California Department of Financial Protection and Innovation - FDD registration violations pre-2016; settled October 2020 with $10,000 reimbursement for investigative costs; (2) Washington Department of Financial Institutions Securities Division - franchise law violations pre-2017 application
Items 10, 11
Training & Operations
- Classroom training
- 12 hrs
- On-the-job training
- 9 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- 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?
According to Item 19 of the STROLL or GREET FDD, the average gross sales per unit is $172K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
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 620 total units in the United States, including 548 franchised units and 80 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 B-grade franchise with a risk score of 57 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.