FranchiseVerdict
Taco John's logo
FV-02540·STRONGExcellent91

Taco John's

Food & Beverage - Quick ServiceFranchising since 1969Website
Investment
$437K – $2.1M
78th pct Quick Service
Avg revenue
$1.2M
31st pct Quick Service
Royalty
5.0%
14th pct Quick Service
Units
343
85th pct Quick Service
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $437K – $2.1M including a $25K franchise fee, 5.0% ongoing royalty.
  • Average unit revenue of $1.2M/year (median $1.2M).
  • Rated STRONG with a risk score of 46/100. SBA loan default rate of 0.0% across 101 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Taco John’s International, Inc.
Incorporated in
Wyoming
HQ
808 West 20th Street, Suite 200, Cheyenne, Wyoming 82001
Auditor
McGee, Hearne & Paiz, LLP (MHP)
Audited financials
Franchisor revenue
$35.3M
vs $38.2M prior year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one Taco John's unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $1,234,098
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: qsr
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $437K–$2.1M
Working capital
$
FDD reports $25K–$40K

Unlevered ROIC · per unit

12%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$160K
EBITDA margin
13.0%
Total invested
$1.3M
Payback
97 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Taco John's units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$1.5M

on $7.4M purchase

Total debt

$5.9M

SBA $3.7M + senior + seller note

Overview

About

Franchisees operate quick-service Mexican food restaurants serving tacos, burritos, and specialty items. Day-to-day operations include food preparation, customer service, inventory management, staff scheduling, and local marketing within a protected territory. Franchisees manage 20-80+ employees depending on location and format.

CEO
Heather Leed Neary
Founded
1969
FDD year
2024
States available
23

Item 7 · what it costs

The Vitals

Total investment
$437K – $2.1M
All-in to open one unit
Liquid capital
$25K – $40K
Cash you must have on hand
Franchise fee
$25K
Royalty
5.0%
Gross Sales · typical 6–8%
Ad fund
4.0%
typical 3–5%
Total fee load
9.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$1.2M
Per unit, per year
Median gross sales
$1.2M
Item 19 type
Average sales for different prototypes
Sample size
328 units
vs category median 37 · large
Range (low → high)
$442K$3.3M
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank31th
vs Food & Beverage - Quick Service peers
Investment cost rank78th
Lower investment ranks lower (better)
Royalty rate rank14th
Lower royalty = lower percentile (better)
Unit count rank85th
vs Food & Beverage - Quick Service peers
Risk score rank9th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
343
Opened
16
Last reporting year
Closed
20
Turnover rate
5.8%
Company-owned
7
Corporate units in the system
% franchised
98%
vs corporate-owned
Net growth (yr3)
-1.1%
Net unit change last year
3-yr CAGR
-2.7%
Compounded over last 3 years
2022
357-4
Franchised units
2023
361
Franchised units
2024
367
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 11 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 11 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

Total loans
101
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

46
Risk · 0-100
STRONG46 / 100

Taco John's presents moderate-to-cautious risk due to declining unit economics, undisclosed profitability data, and a contracting franchise system without transparent financial performance metrics.

Score breakdown · what drove the 46 / 100 rating

  1. 01MINORDeclining unit count (-1.1% YoY) suggests system contraction and potential market saturation or franchisee dissatisfaction
  2. 02MEDNet Income not disclosed in Item 19 — cannot validate actual profitability claims or ROI against $437k-$2.08M investment range
  3. 03MINORWide investment range ($1.64M spread) indicates inconsistent unit economics or unclear cost structure for prospective franchisees
  4. 04HIGHNo going concern statement is a minor positive, but combined with declining units raises questions about long-term brand viability
  5. 05MINORAvg revenue of $1.23M is modest for QSR; at 5% royalty this yields only ~$61.7k in gross royalties per unit, suggesting thin margins for franchisees

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Radius/Market-based
Protected territory
Yes
Initial term
20 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Wyoming

Item 11

Training & Operations

Classroom training
28 hrs
On-the-job training
180 hrs
POS system
QuikServe or Qu Beyond
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

98 numbers

Locked
(319) 352-••••
IA
(515) 282-••••
IA
(765) 919-••••
IN

One-time purchase · CSV download · Validation questions included