Wafels & Dinges Food Truck Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
FranchiseVerdict summary · 2026
A Wafels & Dinges Food Truck franchise requires a total initial investment of $115K – $265K, including a $12K franchise fee and an ongoing 6.0% royalty[2]. The 2022 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2022 FDD issuance
Overview
- Investment
- $115K – $265K
- 7th pct Service Resta…
- Avg gross sales
- N/A
- 0 outlets
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- N/A
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants avg · 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 $115K – $265K including a $12K franchise fee, 6.0% ongoing royalty.
- RETURNSNo Item 19 revenue figure is on file for this brand. We have not established what its FDD discloses.
- RISKVerdict C (Average), verdict score 41/100 (higher is better).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Belgo Franchisor LLC
- Parent company
- Belgo Holdings LLC
- Predecessor
- Belgo Waffle Inc. (BWI)
- Prior franchisor entity
- CEO title
- Chief Executive Officer and Chief Operating Officer
- Thomas DeGeest
- Incorporated in
- Delaware
- HQ
- 8401 Park Meadows Center Drive, Unit 5555, Lone Tree, CO 80124
- Auditor
- Aprio, LLP
- Audited financials
Overview
About
- CEO
- Thomas DeGeest
- Headquarters
- CO
- Founded
- 2007
- FDD year
- 2022
Can you afford it, and what does the money buy?
Entry cost runs 71% below the typical quick-service restaurants franchise.
Source: FDD 2022 · Items 5–7
FDD Item 7 · 2022 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $12K | $12K |
| Working capital (3–6 mo) | $5K | $10K |
| Equipment, build-out, other | $98K | $243K |
| Total initial investment | $115K | $265K |
Source: Wafels & Dinges Food Truck 2022 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
- $115K – $265K
- Top 40% of category vs category
- Liquid capital req'd
- $5K – $10K
- Top 40% of category vs category
- Franchise fee
- $12K
- Top 40% of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 0.1%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of net sales |
| Technology fee | $360 |
| Inventory (initial) | $10K – $10K |
| Total fee load | 0.1% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Wafels & Dinges Food Truck is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Wafels & Dinges Food Truck 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 annual revenue, 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.
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
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 · by group
What the filing does disclose
Item 19 of this FDD reports performance in more than one group. We publish no single average for this brand; the groups the filing does disclose are listed below, quoted from its own Item 19 table.
Each row below is quoted from the FDD's own Item 19 table. Gross sales are not profit.
0 outletsItem 19 detail
company owned
| Segment | Sample | Avg |
|---|---|---|
| Affiliate-Owned Outlets - FY2019 (3 locations, year-round) | 3 | $1.1M |
| Affiliate-Owned Outlets - FY2020 (2 locations, year-round) | 2 | $439K |
| Affiliate-Owned Outlets - FY2021 (3 locations: 2 NYC + 1 MN, year-round) | 3 | $900K |
seasonal company owned
| Segment | Sample | Avg |
|---|---|---|
| Seasonal Outlets - FY2021 (5 NY seasonal locations) | 5 | — |
vs Quick-Service Restaurants averages
How Wafels & Dinges Food Truck Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- N/A
- Opened
- 1
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 1
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Last reporting year only, multi-year history not disclosed in this brand's FDD.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Aprio, LLP
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
What are you signing up for?
Ongoing fees run about 0.1% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2022 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Franchisor can compete | Yes |
| Owner-operator | Required |
| Non-compete (years)ℹ | 1 year |
| Non-compete (miles)ℹ | 3 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination groundsℹ | 21 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | Yes |
| Arbitration location | Denver, Colorado |
| Jury trial waiver | Yes |
| Litigation count | 0 |
Items 10, 11
Training & 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 & 11
Franchisor Support
Technology: Square Food & Beverage POS
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wafels & Dinges Food Truck franchise?
The total investment to open a Wafels & Dinges Food Truck franchise ranges from $115K – $265K, with an initial franchise fee of $12K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
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.
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?
SBA 7(a) loan charge-off data is not available for Wafels & Dinges Food Truck (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.
Is Wafels & Dinges Food Truck a good franchise to buy?
FranchiseVerdict rates Wafels & Dinges Food Truck as a C-grade franchise with a verdict score of 41 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
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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.