FranchiseVerdict
Vital Care logo
FV-02901·STRONGExcellent91

Vital Care

OtherFranchising since 1986Website
Investment
$556K – $1.0M
86th pct Other
Avg revenue
$16.5M
50th pct Other
Royalty
Units
110
77th pct Other
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $556K – $1.0M including a $60K franchise fee.
  • Average unit revenue of $16.5M/year (median $9.3M).
  • Rated STRONG with a risk score of 39/100. SBA loan default rate of 0.0% across 101 loans (below the industry average).
  • System growing at 7140% CAGR over 3 years with 110 total units — strong expansion trajectory.

Item 1 · who you're contracting with

The Franchisor

Legal entity
Vital Care Infusion Services, LLC
Parent company
Vital Care Holdings, LLC
Incorporated in
Delaware
HQ
12 Cadillac Drive, Unit 230, Brentwood, Tennessee 37027
Auditor
Grant Thornton LLP
Audited financials
Franchisor revenue
$92.7M
vs $135.8M prior year

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 Vital Care unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $16,465,278
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: $556K–$1.0M
Working capital
$
FDD reports $274K–$367K

Unlevered ROIC · per unit

239%

Above typical band (30–60%)

0%30–60% Yale band80%
ROIC above 100% usually means the revenue figure is a system-wide aggregate or top-cohort number rather than a single-unit average. Verify the "Revenue · per unit" field against the brand's FDD Item 19 detail tables before relying on this output.

Store EBITDA · annual
$2.6M
EBITDA margin
16.0%
Total invested
$1.1M
Payback
5 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.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Vital Care units return on equity?

Edit assumptions

Equity IRR · 5-yr

21.3%

2.62× MOIC

Year-1 DSCR

4.51×

EBITDA ÷ debt service

Equity required

$98.7M

on $148.2M purchase

Total debt

$49.5M

SBA $5.0M + senior + seller note

SBA 7(a) request ($74.1M) exceeds the $5M program cap. Excess capped automatically; backfill via conventional or equity.

Overview

About

Vital Care franchisees operate healthcare clinics (likely urgent care, occupational health, or specialty medical services) managing patient intake, clinical staff, and revenue across multiple service lines (specialty, non-specialty, access). Daily operations involve managing patient flow, ensuring compliance, reporting gross revenue by category for tiered royalty calculations, and maintaining territory exclusivity.

CEO
Stephen Foreman
Founded
1986
FDD year
2025
States available
34

Item 7 · what it costs

The Vitals

Total investment
$556K – $1.0M
All-in to open one unit
Liquid capital
$274K – $367K
Cash you must have on hand
Franchise fee
$60K
Royalty
The aggregate of: 19.25% of Gross Revenue (Non-Specialty)…
Ad fund
1.0%
typical 3–5%
Total fee load
20.8%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$16.5M
Per unit, per year
Median gross sales
$9.3M
Item 19 type
Average, Median, High, and Low Gross Revenues
Sample size
73 units
vs category median 20 · large
Range (low → high)
$205K$99.0M
Cohort dispersion
Transparency
4 / 5
vs category median 3 / 5 · above
Revenue rank50th
vs Other peers
Investment cost rank86th
Lower investment ranks lower (better)
Royalty rate rank70th
Lower royalty = lower percentile (better)
Unit count rank77th
vs Other peers
Risk score rank2th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
110
Opened
35
Last reporting year
Closed
1
Turnover rate
0.9%
Company-owned
2
Corporate units in the system
% franchised
98%
vs corporate-owned
Net growth (yr3)
+45.9%
Net unit change last year
3-yr CAGR
+71.4%
Compounded over last 3 years
2023
108+34
Franchised units
2024
74
Franchised units
2025
63
Franchised units

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

Item 20 · 31 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
Available · 31 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.

Total loans
101
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

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

Risk & Legal

39
Risk · 0-100
STRONG39 / 100

Vital Care presents moderate-to-cautious risk: rapid expansion and opaque profitability metrics conflict with franchisor stability concerns, while complex royalty tiers and missing financial disclosures obscure true unit economics.

Score breakdown · what drove the 39 / 100 rating

  1. 01MINORNo net income disclosure (Item 19) prevents accurate ROI assessment despite high average revenue of $16.5M
  2. 02MINORTiered royalty structure (1.75%-19.25%) is complex and potentially punitive; additional 0-2% kick-in at $10M revenue creates perverse incentive against growth
  3. 03MINORExplosive 45.9% YoY unit growth (110 units) suggests either rapid market expansion or aggressive recruitment; sustainability and franchisee profitability unknown
  4. 04HIGHGoing Concern status is FALSE — indicates financial instability or structural concerns at franchisor level
  5. 05MINORHigh initial investment ($555K-$1M) combined with multi-tiered royalties creates significant cash flow risk if franchisee falls below specialty/access categories

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Geographic
Protected territory
Yes
Initial term
10 years
Renewal term
10 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
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Tennessee

Item 11

Training & Operations

Classroom training
63 hrs
On-the-job training
0 hrs
POS system
Vital Systems by CareTend
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

97 numbers

Locked
(316) 234-••••
KS
(539) 271-••••
OK
(856) 724-••••
NJ

One-time purchase · CSV download · Validation questions included

FDD download

Vital Care · FDD (2025) PDF

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