FranchiseVerdict
The Local Fry logo
FV-02669·MODERATEExcellent81

The Local Fry

Food & Beverage - Full ServiceFranchising since 2023Website
Investment
$557K – $756K
71st pct Full Service
Avg revenue
57th pct Full Service
Royalty
6.0%
54th pct Full Service
Units
1
3rd pct Full Service
SBA default

Bottom line

  • Total investment $557K – $756K including a $35K franchise fee, 6.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated MODERATE with a risk score of 65/100.
  • Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.

Item 1 · who you're contracting with

The Franchisor

Legal entity
TLF Holdings Inc.
Incorporated in
Maryland
HQ
711 W. 40th St., Ste 152, Baltimore, MD 21211
Auditor
George Nwabukwu & Associates
Audited financials
Franchisor revenue
$60K
Most recent fiscal year
⚠ Going-concern note
Disclosed in FDD 2025
Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.

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 The Local Fry unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: generic
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $557K–$756K
Working capital
$
Item 7 didn't break this out — defaulted to ~10% of annual revenue

Unlevered ROIC · per unit

17%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$109K
EBITDA margin
14.5%
Total invested
$656K
Payback
72 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.

Overview

About

The Local Fry operates a quick-service restaurant focused on fried food offerings (likely fish, chicken, or specialty fries). Franchisees manage daily kitchen operations, food preparation, customer service, inventory management, and local marketing while adhering to brand standards and paying 6% royalties on adjusted gross sales.

CEO
Kevin Irish
Founded
2023
FDD year
2025
States available
1

Item 7 · what it costs

The Vitals

Total investment
$557K – $756K
All-in to open one unit
Liquid capital
$0 – $0
Cash you must have on hand
Franchise fee
$35K
Royalty
6.0%
Percentage of Gross Sales · typical 6–8%
Ad fund
2.5%
typical 3–5%
Total fee load
8.5%
vs 9–13% typical

Item 19

Financial Performance

This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.

Item 20 · unit dynamics

The Growth Chart

Total units
1
Opened
0
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
1
Corporate units in the system
% franchised
0%
vs corporate-owned
2023
0±0
Franchised units
2024
0
Franchised units
2025
0
Franchised units

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

Item 20 · 15 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 · 15 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.

No SBA loan data available for this brand.

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

Risk & Legal

65
Risk · 0-100
MODERATE65 / 100

Early-stage, unproven franchise system with zero operational track record, undisclosed unit economics, and high capital requirement relative to system size presents significant risk for franchisees.

Score breakdown · what drove the 65 / 100 rating

  1. 01MINOROnly 1 existing unit makes performance claims unverifiable and system viability unproven
  2. 02MEDNo Item 19 (average revenue/net income) disclosed—impossible to validate ROI claims or benchmark performance
  3. 03MEDHigh initial investment ($556.5k–$755.5k) with no disclosed average unit economics creates significant financial risk
  4. 04MINORSingle-unit franchise system suggests either brand is brand new, failed to scale, or franchisor lacks operational maturity
  5. 05MINOR6% royalty on 'Adjusted Gross Sales' requires clarification—non-standard language may hide additional fees or revenue manipulation risk

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
Protected territory
Yes
Initial term
10 years
Renewal term
5 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
No
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Maryland

Item 11

Training & Operations

Classroom training
10 hrs
On-the-job training
250 hrs
POS system
Toast
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

20 numbers

Locked
(701) 328-••••
ND
(213) 876-••••
CA
(651) 539-••••
MN

One-time purchase · CSV download · Validation questions included

FDD download

The Local Fry · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above