Toastique Franchise Cost, Revenue & Review 2026
- Investment
- $471K – $891K
- Disclosed sales
- $614K
- gross sales, not profit
- SBA charge-off
- 0.0%
- on 43 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Toastique is a fast-casual franchise serving gourmet toasts, acai bowls, and cold-pressed juices. Franchisees run the cafes, managing fresh prep, staffing, and counter service in compact retail spaces.
FranchiseVerdict summary · 2026
A Toastique franchise requires a total initial investment of $471K – $891K, including a $55K franchise fee and an ongoing 6.0% royalty[2]. Per the 2026 FDD, average unit revenue was $614K[2]. SBA 7(a) loans show a 0.0% charge-off rate across 43 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $471K – $891K
- 73rd pct Service Resta…
- Avg gross sales
- $614K
- 8th pct Service Resta…
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 57
- 67th pct Service Resta…
- SBA charge-off
- 0.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-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 $471K – $891K including a $55K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $614K/year (median $539K). Note: this is gross profit, not take-home income.
- RISKVerdict A (Strongest tier), verdict score 83/100 (higher is better). SBA loan charge-off rate of 0.0% across 43 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +19 franchised outlets in the latest year (22 opened, 3 closed); 44 signed but not yet open (Item 20).
- GROWTHSystem growing at 206.2% CAGR over 3 years with 57 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Toastique Holdings, LLC
- Predecessor
- Toastique Holdings, LLC (Nevada LLC, established Dec 5, 2018, dissolved)
- Prior franchisor entity
- CEO title
- Founder and Chief Executive Officer
- Brianna Keefe
- Incorporated in
- Arizona
- HQ
- 764 Maine Avenue SW, Washington, D.C. 20024
- Auditor
- Kezos & Dunlavy, LLC
- Audited financials
- Franchisor revenue
- $4.5M
- vs $2.7M prior year
Affiliated brands
- is also the owner of the Licensed Marks
- Fresh Eats
- maintains a pr
- has not in the past and does not now offer franchises in any lines of business
- operates a Toastique Restaurant similar to the Franchised Business in Washington
- Toastique
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Brianna Keefe
- Headquarters
- DC
- FDD year
- 2026
- States available
- 19
Can you afford it, and what does the money buy?
Entry cost runs 40% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $55K | $55K | |
| Go to Market Launch Fee | $8K | $8K | |
| Construction and Leasehold Improvements | $199K | $498K | |
| Lease Deposits - Three Months | $6K | $15K | |
| Furniture, Fixtures, and Equipment | $70K | $130K | |
| Store Art & Feature Wall | $5K | $8K | |
| Signage | $8K | $18K | |
| Computer, Software, and Point of Sales System | $1K | $2K | |
| Grand Opening Marketing | $20K | $20K | |
| Initial Inventory | $30K | $40K | |
| Utility Deposits | $250 | $2K | |
| Insurance Deposits - Three Months | $250 | $1K | |
| Travel for Initial Training | $3K | $8K | |
| Professional Fees | $10K | $29K | |
| Licenses and Permits | $1K | $3K | |
| Construction Project Management Fee | $15K | $15K | |
| Additional Funds - Three Months | $40K | $40K | |
| Total initial investment | $471K | $891K |
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
- $471K – $891K
- Bottom third — review vs category
- Liquid capital req'd
- $40K – $40K
- Bottom third — review vs category
- Franchise fee
- $55K – $55K
- Bottom third — review 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% of gross sales |
| Technology fee | $500 |
| Training fee | $300 |
| Transfer fee | $20K |
| Renewal fee | $10K |
| Inventory (initial) | $30K – $40K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 37% below the quick-service restaurants norm.
Source: FDD 2026 · 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 Toastique 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
$721K
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 Toastique 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: 2026 FDD
Financial Performance
- Avg gross sales
- $614K
- Per unit, per year
- Median gross sales
- $539K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- Actual
- Sample size
- 26 outlets
- vs category median 19
- Range (low → high)
- $328K→$1.1MCited, not corroborated — printed on page 71 of the 2026 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 9 / 10
- vs category median 4 / 10 · above
Compared against 781 Quick-Service Restaurants brands
Revenue is only 0.9x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
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 $614K/year in gross sales. Revenue-to-investment ratio: 0.9x.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants median).
Disclosure
Transparency score 9/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 206.2% CAGR over 3 years across 57 units — operators are staying and new ones are joining.
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 Quick-Service Restaurants medians
How Toastique Compares
Category median of published Quick-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 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 57
- Opened
- 22
- Last reporting year
- Closed
- 3
- Terminated
- 2
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 5.3%
- Company-owned
- 8
- Corporate units in the system
- % franchised
- 86%
- vs corporate-owned
- 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
- 2
- Not renewed
- 0
- Transferred
- 2
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 44
- 0.77 per open outlet · Item 20 Table 5
- Projected new
- 44
- Franchisor's next-year forecast
- Termination rate
- 50.0%
- Franchisor-initiated terminations
- Ceased ops
- 50.0%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 19 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
19
states with franchisees (per FDD Item 12)
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
- 43
- Loan volume
- $15.5M
- Median loan
- $417K
- 50th percentile
- Charge-off rate
- 0.0%
- on 43 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 9
- Defaults
- 0
- Typical loan rate
- 9.9%
- avg rate to borrowers
- Franchised industry avg
- 10.8%
- brand beats franchise avg ↓
- Jobs supported
- 449
- 2.9 per loan
- Lender concentration
- 72%
- top lender's share
Borrower mix: 98% went to startups / new businesses, 2% to established operators
Franchise vs independent — in limited-service restaurants, franchised businesses charge off at 10.8% vs 10.0% for independents — franchising is associated with 8% higher SBA default risk in this category.
Top lenders financing Toastique 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 Toastique from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 65%
- Avg interest rate
- 9.91%
- Lender concentration
- 72.1%
- Job velocity
- 2.9 per $100K
- NAICS benchmark
- 8.7%
- NAICS 722513
- Jobs supported
- 449
Top SBA lendersTop lender holds 72% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 31 | $8.4M | N/A |
| 2 | First Commonwealth Bank | 2 | $1.2M | N/A |
| 3 | First Savings Bank | 2 | $1.3M | N/A |
| 4 | First Bank of the Lake | 2 | $1.9M | N/A |
| 5 | Manufacturers and Traders Trust Company | 2 | $480K | N/A |
| 6 | Wilmington Savings Fund Society FSB | 1 | $363K | N/A |
| 7 | Zions Bank, A Division of | 1 | $310K | 0.0% |
| 8 | EntreBank | 1 | $876K | N/A |
| 9 | Newtek Small Business Finance, Inc. | 1 | $670K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 10 | 0 | -- |
| VAVirginia | 5 | 0 | -- |
| CACalifornia | 4 | 0 | -- |
| ILIllinois | 4 | 0 | -- |
| GAGeorgia | 3 | 0 | -- |
| MDMaryland | 3 | 0 | -- |
| CTConnecticut | 2 | 0 | -- |
| NCNorth Carolina | 2 | 0 | -- |
| NYNew York | 2 | 0 | -- |
| OHOhio | 2 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
With a 0.0% charge-off rate across 43 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
One concern: active litigation with a former franchisee (2 matters) including franchisor's non-compete/arbitration-stay suit and the franchisee's AAA fraud/misrepresentation arbitration demand. Financially strong otherwise — net worth $1,461,449, net income $524,991, AUV $647,010, +206% growth across 57 units.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Franchisor sued former franchisee C&G Restaurant Holdings/Carretta/Giambastini seeking injunctive relief and declaratory judgment re: non-compete enforcement and to stay arbitration; former franchisee filed AAA arbitration demand alleging fraud, fraudulent misrepresentation, breach of contract, breach of covenant of good faith and fair dealing, and Nevada Deceptive Trade Practice Act violations in the sale of the franchise.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Kezos & Dunlavy, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Combines initial franchise fees ($2,481,000 in 2025), royalty fees ($1,265,963), management fees related party ($630,971), and other revenue ($91,446)
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 83 / 100 verdict
- 01HIGH2 active litigation matters incl. fraud arbitration demand
- 02MINORStrong net worth $1,461,449, net income $524,991
- 03MINORAUV $647,010, +206% growth
- 04MEDAudited, Item 19 disclosed
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 2026 · 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 | 2 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Washington, D.C. or nearest suitable location to corporate headquarters |
| Jury trial waiver | Yes |
| Governing law | Arizona |
| Litigation count | 2 |
View Item 3 litigation summary
Franchisor sued former franchisee C&G Restaurant Holdings/Carretta/Giambastini seeking injunctive relief and declaratory judgment re: non-compete enforcement and to stay arbitration; former franchisee filed AAA arbitration demand alleging fraud, fraudulent misrepresentation, breach of contract, breach of covenant of good faith and fair dealing, and Nevada Deceptive Trade Practice Act violations in the sale of the franchise.
Items 10, 11
Training & Operations
- Classroom training
- 32 hrs
- On-the-job training
- 222 hrs
- Training location
- Off-site and On-site
- Ongoing training
- Required
- Field support
- 222 hrs/yr
- On-site visits per year
- Site selection
- joint
- Franchisor financing
- Not offered
- Item 10
- POS system
- CAKE by Mad Mobile
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: CAKE by Mad Mobile
Item 20 · call current owners
Franchisee Contacts
96 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 Toastique franchise?
The total investment to open a Toastique franchise ranges from $471K – $891K, with an initial franchise fee of $55K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Toastique franchise owners earn?
According to Item 19 of the Toastique FDD, the average gross sales per unit is $614K. The median is $539K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Toastique?
Toastique is franchised by Toastique Holdings, LLC. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Toastique 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 Toastique FDD and qualifies whose outlets they describe.
What is Toastique's franchise failure rate?
Based on SBA 7(a) loan data, Toastique has a charge-off rate of 0.0% across 43 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Toastique franchise locations are there?
As of their most recent FDD filing, Toastique has 57 total units in the United States, including 49 franchised units and 8 company-owned units. 22 new units were opened in the latest reporting year.
Is Toastique a good franchise to buy?
FranchiseVerdict rates Toastique as a A-grade franchise with a verdict score of 83 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
Are you the franchisor?
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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.