Bottom line
- Total investment $286K – $566K including a $48K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated MODERATE with a risk score of 55/100.
Item 1 · who you're contracting with
The Franchisor
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 Ululani’s Hawaiian Shave Ice unit return on the cash you put in?
Unlevered ROIC · per unit
30%
In Yale's "attractive" band (30–60%)
Overview
About
Franchisees operate retail shave ice shops selling flavored frozen desserts, typically in high-foot-traffic locations. Day-to-day operations include preparing shave ice products, managing inventory of syrups and toppings, staffing the counter, and handling POS transactions. The business is heavily dependent on seasonal demand and weather patterns.
Item 7 · what it costs
The Vitals
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
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 23 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 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
Early-stage Hawaiian shave ice concept with minimal operating history, undisclosed financials, and high capital requirements relative to unit growth.
Score breakdown · what drove the 55 / 100 rating
- 01MINORNo financial disclosure (Item 19): Average unit volumes and net income not provided, making ROI calculation impossible
- 02MEDSmall unit count (10 units) with only 33.3% YoY growth suggests limited brand awareness and unproven scalability
- 03MINORHigh initial investment ($285k-$566k) relative to unit size and revenue opacity creates significant financial risk
- 04MINORSeasonal business model (shave ice) typically concentrates revenue in summer months, creating cash flow volatility
- 05MINORLack of established financial benchmarks prevents franchisees from validating profitability claims
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
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
34 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Ululani’s Hawaiian Shave Ice · FDD (2025) PDF