The Yard Milkshake Bar Franchise Cost, Revenue & Review 2026
- Investment
- $242K – $835K
- Disclosed sales
- $797K
- gross sales, not profit
- SBA charge-off
- Limited · 20 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
The Yard Milkshake Bar is a dessert franchise known for over-the-top milkshakes served in decorated souvenir jars, plus ice cream. Franchisees run the shops, managing product prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A The Yard Milkshake Bar franchise requires a total initial investment of $242K – $835K, including a $45K franchise fee and an ongoing 6.0% royalty[2]. Per the 2023 FDD, average unit revenue was $797K[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high - issued more than two years ago
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored6 of 7 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $242K – $835K
- 10th pct Service Resta…
- Avg gross sales
- $797K
- Incl. company outletsNet sales3rd pct Service Resta…
- Royalty
- 6.0%
- 25th pct Service Resta…
- Units
- 23
- 20th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-Service Restaurants median · 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 $242K – $835K including a $45K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $797K/year (includes company-owned outlets).
- RISKVerdict B (Above average), verdict score 61/100 (higher is better).
- GROWTHPositive: net +5 franchised outlets in the latest year (5 opened, 0 closed); 16 signed but not yet open (Item 20).
- GROWTHSystem growing at 216.7% CAGR over 3 years with 23 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- The Yard Franchising, LLC
- Parent company
- The Yard Milkshake Bar Holdings, Inc.
- FDD Item 1, page 7 of the 2023 FDD
- Predecessor
- Island Ice Cream and Treats, LLC
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Logan J. Green
- Incorporated in
- Alabama
- HQ
- 234 Office Park Drive, Gulf Shores, Alabama 36542
- Auditor
- Robertson, Andreoli & Covington, P.C.
- Audited financials
- Franchisor revenue
- $1.4M
- vs $1.1M prior year
Overview
About
- CEO
- Logan J. Green
- Headquarters
- AL
- Founded
- 2018
- FDD year
- 2023
- States available
- 10
Can you afford it, and what does the money buy?
Entry cost runs 21% below the typical full-service restaurants franchise.
Source: FDD 2023 · Items 5–7
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $45K | $45K |
| Working capital (3–6 mo) | $3K | $30K |
| Equipment, build-out, other | $195K | $760K |
| Total initial investment | $242K | $835K |
Source: The Yard Milkshake Bar 2023 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $242K – $835K
- Top 40% of category vs category
- Liquid capital req'd
- $3K – $30K
- Top 40% of category vs category
- Franchise fee
- $45K – $45K
- Top 40% of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% |
| Training fee | $4K |
| Transfer fee | $6K |
| Renewal fee | $10K |
| Inventory (initial) | $15K – $30K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 50% below the full-service restaurants norm.
Includes company-owned outlets
Reported as net sales, not gross sales
Source: FDD 2023 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for The Yard Milkshake Bar until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$555K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one The Yard Milkshake Bar unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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: 2023 FDD
Financial Performance
Includes company-owned outlets
Reported as net sales, not gross sales
- Avg gross sales
- $797K
- Per unit, per year
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- net sales
- Sample size
- 20 outlets
- vs category median 18
- Range (low → high)
- $148K→$1.5MCited, not corroborated — printed on page 31 of the 2023 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2022
- Fiscal year the figures cover
- Source filing
- FDD 2023
- Disclosed in the 2023 filing, covering 2022
- Transparency
- 3 / 10
- vs category median 3 / 10 · typical
Compared against 801 Full-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $797K/year in gross sales. Revenue-to-investment ratio: 1.5x. Includes company-owned outlets.
Fee burden
Total ongoing fee load of 8.0% (near the Full-Service Restaurants median).
Disclosure
Transparency score 3/10 — moderate disclosure depth. Average and range data are available but detailed cohort breakdowns may be limited.
Operator retention
System expanding at 216.7% CAGR over 3 years across 23 units — operators are staying and new ones are joining.
Multi-unit rate
55% of franchisees own multiple units — high repeat-buyer rate signals strong unit economics and operator satisfaction.
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 Full-Service Restaurants medians
How The Yard Milkshake Bar Compares
Category median of published Full-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 23
- Opened
- 5
- 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
- N/A
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 1%
- vs corporate-owned
- Multi-unit owners
- 54.5%
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 16
- 0.70 per open outlet · Item 20 Table 5
- Projected new
- 16
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 9 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.
Where the owners are · Item 20 owner list
13 current owners across 9 states.
- AL 2
- FL 2
- MS 2
- TX 2
- AZ 1
- GA 1
- LA 1
- OH 1
- VA 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 20
- Loan volume
- $6.1M
- Median loan
- $350K
- 50th percentile
- Charge-off rate
- Limited · 20 loans
- Limited SBA coverage: 20 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 20 loans
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 9
- Defaults
- 0
- Typical loan rate
- 8.8%
- avg rate to borrowers
- Franchised industry avg
- 10.6%
- n=3,755 loans
- Jobs supported
- 477
- 9.1 per loan
- Lender concentration
- 24%
- top lender's share
Borrower mix: 82% went to startups / new businesses, 18% to established operators
Franchise vs independent — in snack and nonalcoholic beverage bars, franchised businesses charge off at 10.6% vs 8.9% for independents — franchising is associated with 19% higher SBA default risk in this category.
Top lenders financing The Yard Milkshake Bar franchisees
Showing 3 of 9 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for The Yard Milkshake Bar from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 71%
- Avg interest rate
- 8.79%
- Lender concentration
- 23.5%
- Job velocity
- 9.1 per $100K
- NAICS benchmark
- 7.0%
- NAICS 722515
- Jobs supported
- 477
Top SBA lendersTop lender holds 24% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 4 | $1.1M | N/A |
| 2 | Manufacturers and Traders Trust Company | 3 | $675K | 0.0% |
| 3 | Five Star Bank | 3 | $1.2M | 0.0% |
| 4 | Central Bank | 3 | $775K | N/A |
| 5 | Peoples Bank | 2 | $829K | 0.0% |
| 6 | Newtek Small Business Finance, Inc. | 1 | $350K | 0.0% |
| 7 | The Bank of Missouri | 1 | $372K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| FLFlorida | 4 | 0 | 0.0% |
| NCNorth Carolina | 2 | 0 | -- |
| TNTennessee | 2 | 0 | -- |
| VAVirginia | 2 | 0 | 0.0% |
| CACalifornia | 1 | 0 | -- |
| COColorado | 1 | 0 | -- |
| MDMaryland | 1 | 0 | -- |
| MOMissouri | 1 | 0 | -- |
| MSMississippi | 1 | 0 | 0.0% |
| UTUtah | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
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
Thin franchisor equity of $19,669 but positive net income $481,412 on $1.37M revenue. No litigation, bankruptcy, or going-concern; audited financials and Item 19 disclosed. 23 units with strong 216.7% net growth and 0% turnover.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation is required to be disclosed in this Item.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Robertson, Andreoli & Covington, P.C.
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: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 61 / 100 verdict
- 01MINORThin net worth $19,669
- 02MINORPositive net income $481,412
- 03MINORNo litigation/bankruptcy/going-concern
- 04MINOR23 units, 216.7% net growth
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Baldwin County, Alabama |
| Jury trial waiver | Yes |
| Governing law | Alabama |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in this Item.
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 100 hrs
- Training location
- On-site at franchisee's restaurant
- Ongoing training
- Required
- Site selection
- franchisor_approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Clover
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Clover
Item 20 · call current owners
Franchisee Contacts
13 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a The Yard Milkshake Bar franchise?
The total investment to open a The Yard Milkshake Bar franchise ranges from $242K – $835K, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do The Yard Milkshake Bar franchise owners earn?
According to Item 19 of the The Yard Milkshake Bar FDD, the average gross sales per unit is $797K. Important context: Includes company-owned outlets; Reported as net sales, not gross sales. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns The Yard Milkshake Bar?
The Yard Milkshake Bar is franchised by The Yard Franchising, LLC. Its parent company is The Yard Milkshake Bar Holdings, Inc.. Source: FDD Item 1, 2023 filing.
What is Item 19 in the The Yard Milkshake Bar 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 The Yard Milkshake Bar FDD and qualifies whose outlets they describe.
What is The Yard Milkshake Bar's franchise failure rate?
SBA 7(a) loan charge-off data is not available for The Yard Milkshake Bar (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 The Yard Milkshake Bar franchise locations are there?
As of their most recent FDD filing, The Yard Milkshake Bar has 23 total units in the United States, including 19 franchised units and 4 company-owned units. 5 new units were opened in the latest reporting year.
Is The Yard Milkshake Bar a good franchise to buy?
FranchiseVerdict rates The Yard Milkshake Bar as a B-grade franchise with a verdict score of 61 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. 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.