Wafels & Dinges Food Truck Franchise Cost & 2022 FDD Data
38/100
Middle tier
38 this brand51 Quick-Service Restaurants medianlikely 13–63: narrower with more SBA loans and a newer filing (very low confidence)
Higher is better · an editorial assessment, not investment advice
#2,660 of 3,068 graded brands
Why a C: Helped by legal record and transparency. Held back by scale. See all six factors
- Total investment
- $115K – $265K
- excl. land
- Avg gross sales
- not extracted
- SBA charge-off
- Not SBA-matched
Data from the FDD filing. Analysis by FranchiseVerdict · Methodology · Website · Report an error · Franchisor? Claim this listing
This data is from a 2022 FDD. Current terms may differ. Always verify with the franchisor's latest disclosure document.
FranchiseVerdict summary · 2022 FDD
Per the 2022 FDD, a Wafels & Dinges Food Truck franchise requires a total initial investment of $115K – $265K, excluding land, including a $12K franchise fee. Once open, the ongoing royalty is 6.0%. The 2022 FDD on file does not yield a unit-revenue figure we can publish. Verdict grade: C (Middle tier), an editorial assessment, not investment advice.
Sources: 2022 FDD · What one unit could make and lose →
Sources, dates and evidence
FDD issued: · Last cited check: · Staleness risk: high (issued more than two years ago)
Evidence for the headline figures: thin✓ 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 scored4 of 4 headline figures on this page cite a page of the filing.
Overview
Quick verdict · vs Quick-Service Restaurants median
Top edge: green = better than the Quick-Service Restaurants median by more than 10%, red = worse by more than 10%, gray = within 10% or no benchmark. Source: FDD filings + SBA 7(a).
Data from public FDD filings and SBA records. Methodology
Bottom line
- RETURNSNo Item 19 gross sales figure is on file for this brand. We have not established what its FDD discloses.
- GROWTHIn the latest Item 20 year, the number of franchised outlets grew by 1 (1 opened, 0 closed).
AT STAKEOne unit at the Item 7 midpoint: $25K a year in payments on assumed SBA 7(a)-style terms.You put in about $38K of your own cash and personally guarantee a $152K loan. Assumptions are labeled in Sales; not investment advice.See what one unit could make and lose
Things to check before you sign (4)
- The franchisor keeps the right to compete inside your territory (Item 12, territory).
- You waive a jury trial in disputes with the franchisor (Item 17, renewal, termination and disputes).
- An owner must run the business personally (Item 15, owner participation). Ask whether a trained manager can ever stand in.
- Limited data: this page holds only part of the filing. Read the FDD itself before relying on any figure here.
Checked and clear: no auditor doubt that the franchisor can keep operating, no lawsuit naming the franchisor in Item 3 and no supplier rebates to the franchisor. Not on file here, so ask: unit trend and SBA charge-off rate against the category median.
What to do next
Step 1: Read the FDD itself.
Free: the franchisor must give it to you at least 14 days before you sign or pay. Or look it up in a state registry (Wisconsin, Minnesota, California). What to read first.
Step 2: Talk to current and former owners.
Free: Item 20 of the FDD lists every current owner and those who left last year, most with a phone number. Questions to ask.
Step 3: Talk to an SBA lender.
Free: the SBA's Lender Match. Ask what you would personally guarantee and what the monthly payment would be. If you plan to use retirement savings, ask a CPA about the rules for that first.
Step 4: Have a franchise attorney review the FDD and agreement.
Free: your state bar's lawyer referral service can name franchise lawyers, and many offer a short first consultation. Bring the checks listed above.
Research steps, not investment or legal advice.
Can you afford it, and what does the money buy?
Entry cost (the Item 7 midpoint) is 61% below the Quick-Service Restaurants median ($487K).
Source: FDD 2022 · Items 5–7 (fees and startup costs)
Do you qualify? The filing states no minimum net worth or liquid capital. Ask Belgo Franchisor LLC (Item 1: 8401 Park Meadows Center Drive, Unit 5555, Lone Tree, CO 80124) and your lender what they require, and keep living costs for the first year outside the deal.
Full Item 7 breakdown12 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Mobile Unit Franchise Fee | $12K | $12K | |
| Vehicle Chassis | $30K | $130K | |
| Equipment, Fixtures, Menu Boards, Graphics | $50K | $80K | |
| Architect and Business Licenses | $4.5K | $8K | |
| Smallwares | $1.5K | $2.5K | |
| POS System | $1.5K | $3K | |
| Opening Supplies | $3K | $6K | |
| Initial Training and Pre-Opening Expenses | $3.5K | $5K | |
| Insurance | $2K | $5K | |
| Legal and Accounting Fees | $1.5K | $3K | |
| Utility Deposits | $350 | $500 | |
| Additional Funds for 3 Months | $5K | $10K | |
| Total initial investment | $115K | $265K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. The total row is the total as printed in Item 7. Actual costs may fall outside this range depending on market and build-out scope.
Item 6 · what you pay once you are open
Ongoing fees
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fundBrand-wide marketing pool. Brand Fund Contribution up to 2.00% of Net Sales; not currently charged, may be activated on 60 days' notice | 0.0% of net sales |
Technology feeThe filing's detailMonthly Technology Fee of $360 covering electronic learning system, Harri Talent Management System, and Guesst.co sales data/analytics subscriptions; POS fees paid separately to Square. | $360/month |
| Total fee loadbelow the Quick-Service Restaurants median of 7.0% (lean) | 6.0% of sales |
Items 6 (other fees), 7 (startup costs) and 19 (sales and earnings) · assumptions labeled
What you could make and lose: one unit
What one Wafels & Dinges Food Truck unit would ask of you, from the filing's Item 7 total and labeled assumptions.
How these figures are worked out
- Loan (assumption): 80% of the $190K Item 7 midpoint is a $152K loan, paid over 10 years at 10.5%: $25K a year. SBA 7(a)-style terms on a long-term rate; your lender sets yours.
What you put at risk
Your own cash in: about $38K Assumption (the part the loan does not cover of the $190K Item 7 midpoint), plus whatever anything Item 7 leaves out (its notes say what). The loan is $152K.
Personal guarantee. SBA 7(a) loans require a personal guarantee from anyone who owns 20% or more of the business. If the unit cannot pay, the lender can collect from you personally, which can include your savings and your home. The worst case is losing the cash you put in and still owing the rest of the loan.
Gross sales are not profit, and none of these figures is take-home pay until tax and every operating cost are paid. The assumptions are ours, not the filing's. Not investment advice.
Returns modelOne unit · several units · editable
No Item 19 gross sales figure for Wafels & Dinges Food Truck is on file. The return models need one gross sales figure to start from, plus the operating costs that turn gross sales into a profit. Enter your own and the calculator runs on your assumptions; nothing here is modelled until you do.
Returns model · one unit
What would one Wafels & Dinges Food Truck unit leave you each year after the loan payment?
Not disclosed in Item 19. Enter your own gross sales assumption
Gross sales, not profit: the costs below decide what is left.
No Item 19 figures are on file for this brand. Enter your own costs from a lease quote, a payroll plan and calls with current owners.
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.
Item 7 midpoint of $115K to $265K
Item 7's $5K to $10K additional funds are already in the total
Left after the loan payment · per year
The unit's EBITDA minus the assumed loan payment. Before tax, depreciation and any cost your inputs leave out (insurance, accounting and legal, licenses, technology fees): not take-home pay.
Gross sales are not profit. Neither the filing nor a stated assumption on this page supplies annual revenue, COGS, labor, rent / occupancy and other operating costs. Enter your own (a lease quote, owner calls) and the model runs on it.
Loan of $152K at 10.5% over 10 years, an assumption, not a quote. Return and payback are before tax, depreciation and the costs above. The loan usually needs your personal guarantee.
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: 2022 FDD · filed by Belgo Franchisor LLC
Financial performance
We have not established what this franchisor's Item 19 says. The FDD on file either has no locatable Item 19 or could not be read, so no figure is published here.
Item 19 covers the parent format. The filing's Item 19 groups describe Wafels & Dinges, not this format, so they are printed on the Wafels & Dinges page.
vs Quick-Service Restaurants medians
How Wafels & Dinges Food Truck 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.
System figures: see Wafels & Dinges
System figures: see Wafels & Dinges
Government records
SBA loan data
Matched to this brand from SBA 7(a) and 504 FOIA loan records.
No SBA loan data available for this brand.
What are the risks?
Main risk in the grade: scale. The reasons are below.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Verdict grade + FDD Items 3 (litigation), 4 (bankruptcy), 8 (required suppliers), 16 (what you may sell), 21 (audited financials)
Risk and legal
Grade C: Middle tier, 38/100 (category median 51); the full grade is at the top of the page.
How the grade is built
Why a C, factor by factor
- Financial health NeutralAudited financials; no going-concern doubt
- Unit economics NeutralNo Item 19 sales figure to set against the investment, so neutral
- Unit growth NeutralNo Item 20 trend on file, so neutral
- Scale Weighs on it, weakest dimensionFranchising since 2021; mostly company-owned (0% franchised)
- Legal HelpsNo litigation naming the franchisor in Item 3
- Transparency HelpsItem 19 status not confirmed (neither credit nor penalty); audited financials
- Adjustments after the six dimensions (-5 points)Filing age: the newest filing on file is from 2022, and older filings may no longer describe the system, so it took 5 points off.
From the six scored dimensions, an editorial assessment, not investment advice. How the score is built
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Aprio, LLP
Supplier relationship · Items 8 & 16
Ask what the franchisor earns on the supplies it sells you or the rebates it takes (Item 8).
- Franchisor sells you products: Yes
- Franchisor takes supplier rebates: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
System figures: see Wafels & Dinges
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before your own operating costs.
Source: FDD 2022 · Items 11, 12, 17
FDD Items 12 (territory), 15 (owner participation) and 17 (renewal, termination and disputes)
Contract and territory detail
| Allowed renewals | 1 |
|---|---|
| Protected territory | Yes |
| Exclusive territory | No |
| Franchisor can compete | Yes |
| Who runs it (Item 15) | Owner must run it |
| Non-compete (years) | 1 year |
| Non-compete (miles) | 3 mi |
| Right of first refusal | Yes |
| Transfer requires consent | Yes |
| Termination grounds | 21 |
| Curable defaults | 5 |
| Mandatory arbitration | Yes |
| Arbitration location | Denver, Colorado |
| Jury trial waiver | Yes |
Items 5 (initial fees), 7 (startup costs), 12 (territory) and 20 (outlet counts) · development agreement
Area development (several units)
The filing offers a development agreement for several units.
Every term, with its page
- Development fee
- The Development Fee includes the Initial Franchise Fee of $35,000 for the first Franchised Business and a "Reservation Fee" of $10,000 for each additional Franchised Business you commit to develop..
2022 FDD p.15
“The Development Fee includes the Initial Franchise Fee of $35,000 for the first Franchised Business and a "Reservation Fee" of $10,000 for each additional Franchised Business you commit to develop.” - Signed, not yet open
- 0 franchises sold but not open at year end (Item 20, Table 5; see Growth).
Each unit still needs its own Item 7 investment on top of the development fee. Have a franchise attorney read the schedule and the default terms before you sign.
Items 10 (financing), 11 (training and support)
Training and operations
- On-the-job training
- 60 hrs
- Ongoing training
- Required
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- Square Food & Beverage POS
- Operating tech stack
Items 5 (initial fees) & 11 (training and support)
Franchisor support
Franchisee contacts
We hold no owner list for this brand. Item 20 of the FDD lists the current and former owners; the free FDD is the source.
Frequently asked questions
How much does it cost to open a Wafels & Dinges Food Truck franchise?
Per the 2022 FDD, the total investment to open a Wafels & Dinges Food Truck franchise ranges from $115K to $265K, with an initial franchise fee of $12K. This is the Item 7 total in the Franchise Disclosure Document (FDD): the startup costs the franchisor lists, such as build-out, equipment, inventory and working capital. The filing says these totals do not include land.
What do Wafels & Dinges Food Truck franchise owners earn?
No average owner earnings figure for Wafels & Dinges Food Truck is on file. Item 19, where a franchisor may disclose what its outlets earn, is voluntary under the FTC Franchise Rule, and we have not established what this brand's FDD says. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Wafels & Dinges Food Truck?
Wafels & Dinges Food Truck is franchised by Belgo Franchisor LLC. Its parent company is Belgo Holdings LLC. Source: FDD Item 1, 2022 filing.
What is Item 19 in the Wafels & Dinges Food Truck 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 Wafels & Dinges Food Truck FDD and qualifies whose outlets they describe.
What is Wafels & Dinges Food Truck's franchise failure rate?
There is no published franchise failure rate, and Wafels & Dinges Food Truck has too few resolved SBA 7(a) loans on file (fewer than 10) to show an SBA charge-off rate that would mean anything. The SBA charge-off rate is the share of a brand's resolved SBA 7(a) loans to its franchisees that the SBA wrote off, including purchased guarantees. Resolved means paid in full or charged off; active loans are excluded because their outcome is not yet known. It is a lending outcome, not a count of closed businesses. Review the turnover and closure figures in Item 20 of the FDD and speak with current and former franchisees.
Is Wafels & Dinges Food Truck a good franchise to buy?
FranchiseVerdict gives Wafels & Dinges Food Truck a C Verdict grade (Middle tier) with a verdict score of 38 out of 100 (higher is better), an editorial assessment, not investment advice. Helped by legal record (no litigation naming the franchisor in Item 3) and transparency. Held back by scale (franchising since 2021). The “Why a C” section on this page lists all six dimensions and any adjustment. Speak with current franchisees before making any investment decision.
Other Quick-Service Restaurants franchises
Similar investment first, then by grade
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.