Tribos Peri PeriFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Tribos Peri Peri franchise requires a total initial investment of $301K – $733K, including a $35K franchise fee and an ongoing 6.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: F. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $301K – $733K
- 18th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 6.0%
- 26th pct Service Resta…
- Units
- 8
- 18th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants 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
Franchised units fell from 6 to 5 over 3 years. Investigate why operators are leaving.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $301K – $733K including a $35K franchise fee, 6.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict F (Bottom Quintile) with a risk score of 100/100.
- Auditor disclosed a going-concern note, which 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
- TPP Express, LLC
- CEO title
- Managing Member
- Mohammad Jafar Ismail
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- NJ
- HQ
- 156 Ames Avenue, Leonia NJ 07605
- Auditor
- Muhammad Zubairy, CPA PC
- Audited financials
- Franchisor revenue
- $220K
- vs $291K prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
Tribos Peri Peri franchisees operate quick-service restaurants specializing in peri-peri chicken and Portuguese-inspired cuisine. Day-to-day operations include food preparation, customer service, inventory management, and local marketing within an exclusive protected territory. Franchisees pay 6% royalties on gross sales while adhering to brand standards and operational procedures.
- CEO
- Mohammad Jafar Ismail
- Founded
- 2019
- FDD year
- 2025
- States available
- 4
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $50K | $75K |
| Equipment, build-out, other | $216K | $623K |
| Total initial investment | $301K | $733K |
Source: Tribos Peri Peri 2025 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
- $301K – $733K
- Better than avg vs category
- Liquid capital req'd
- $50K – $75K
- Better than avg vs category
- Franchise fee
- $35K – $35K
- Better than avg vs category
- Royalty
- 6.0%
- Weekly · typical 6–8%
- Ad fund
- -n/d
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Training fee | $200 |
| Transfer fee | $10K |
| Total fee load | 6.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Tribos Peri Peri Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 8
- Opened
- 0
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 12.5%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 75%
- vs corporate-owned
- Net growth (yr3)
- -14.3%
- Net unit change last year
- 3-yr CAGR
- +20.0%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 3
- Franchisor's next-year forecast
- Termination rate
- 12.5%
- Franchisor-initiated terminations
- Ceased ops
- 25.0%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 21 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 loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $250K
- Median loan
- $250K
- 50th percentile
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Tribos Peri Peri's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 1 lenders with concentration factor
- Per-state charge-off rates across 1 states
- Startup risk premium and job creation velocity
- 1-year lending trend
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Tribos Peri Peri presents HIGH RISK due to a collapsing franchise system (14.3% unit decline), active litigation over revenue disputes and governance, absent financial disclosures, and franchisor going concern issues.
Litigation (Item 3)
Case 1 (Pending): Kunal Sethi v. Mohammed Jafar Ismail and Lubna Ismail - Arbitration filed February 9, 2024 before American Arbitration Association. Claims include breach of partnership agreement, breach of fiduciary duties, breach of covenant of good faith and fair dealing, unjust enrichment, and minority shareholder oppression. Plaintiff seeks $1,200,000+ in damages. Arbitration scheduled for February 10, 2025. Defendants deny allegations and filed counterclaim seeking $75,966.36. Case 2 (Concluded): Mohammad Jafar Ismail and Lubna Ismail v. Dabeeruddin Khaja, Sangmesh Jabshetty, Sajir A. Mir, and Fozia Mir - Arbitration filed November 17, 2022. Claims involved dissolution, fraud, conversion, breach of contract, breach of fiduciary duty, tortious interference, and unjust enrichment related to AAJL LLC membership. Arbitration hearing May-June 2023. Arbitrator ruled July 17, 2023 that both parties breached duties under Operating Agreement due to unilateral actions and conflicts of interest. Remedy offered buyout option or dissolution (dissolution ongoing).
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Muhammad Zubairy, CPA PC⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 100 / 100 rating
- 01MEDSystem contracting sharply: 8 units with 14.3% YoY decline indicates potential viability issues and reduced support infrastructure
- 02MINORTwo active arbitration cases involving core governance issues (revenue accounting, lock-outs, misappropriation) suggest franchisor-franchisee relationship dysfunction
- 03MINORNo Item 19 financial performance data despite high investment range ($301K-$733K) prevents ROI validation and benchmarking
- 04HIGHGoing concern status indicates potential financial instability at franchisor level, raising questions about support, marketing, and system sustainability
- 05MEDHigh investment-to-unit ratio with declining base suggests limited ability for franchisees to recoup investment in contracting system
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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius or population |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Leonia, New Jersey |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 2 |
View Item 3 litigation summary
Case 1 (Pending): Kunal Sethi v. Mohammed Jafar Ismail and Lubna Ismail - Arbitration filed February 9, 2024 before American Arbitration Association. Claims include breach of partnership agreement, breach of fiduciary duties, breach of covenant of good faith and fair dealing, unjust enrichment, and minority shareholder oppression. Plaintiff seeks $1,200,000+ in damages. Arbitration scheduled for February 10, 2025. Defendants deny allegations and filed counterclaim seeking $75,966.36. Case 2 (Concluded): Mohammad Jafar Ismail and Lubna Ismail v. Dabeeruddin Khaja, Sangmesh Jabshetty, Sajir A. Mir, and Fozia Mir - Arbitration filed November 17, 2022. Claims involved dissolution, fraud, conversion, breach of contract, breach of fiduciary duty, tortious interference, and unjust enrichment related to AAJL LLC membership. Arbitration hearing May-June 2023. Arbitrator ruled July 17, 2023 that both parties breached duties under Operating Agreement due to unilateral actions and conflicts of interest. Remedy offered buyout option or dissolution (dissolution ongoing).
Items 10, 11
Training & Operations
- Classroom training
- 55 hrs
- On-the-job training
- 34 hrs
- Training location
- On-site at franchisee's restaurant
- Ongoing training
- Required
- Time to open
- 8 mo
- From signing to launch
- POS system
- Toast
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast
Item 20 · call current owners
Franchisee Contacts
28 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Tribos Peri Peri · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Tribos Peri Peri franchise?
The total investment to open a Tribos Peri Peri franchise ranges from $301K – $733K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Tribos Peri Peri franchise owners earn?
Tribos Peri Peri does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Tribos Peri Peri's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Tribos Peri Peri (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 Tribos Peri Peri franchise locations are there?
As of their most recent FDD filing, Tribos Peri Peri has 8 total units in the United States, including 6 franchised units and 2 company-owned units.
Is Tribos Peri Peri a good franchise to buy?
FranchiseVerdict rates Tribos Peri Peri as a F-grade franchise with a risk score of 100 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.
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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.