Wild Bill's Franchise Cost, Revenue & Review 2026
- Investment
- $156K – $215K
- Disclosed sales
- not disclosed
- SBA charge-off
- Under 10 loans (1)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Wild Bill's is a craft soda franchise, veteran-owned, selling cane-sugar sodas like root beer and cream soda plus refillable mugs at events and stores. Franchisees run the operations, managing product, events, and sales.
FranchiseVerdict summary · 2026
A Wild Bill's franchise requires a total initial investment of $156K – $215K, including a $40K franchise fee. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: partial✓ 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 scored3 of 3 headline figures on this page cite a page of the filing.
Overview
- Investment
- $156K – $215K
- 13th pct Recreation & …
- Avg gross sales
- N/A
- Royalty
- Not extracted
- Units
- 21
- 30th pct Recreation & …
- SBA charge-off
- N/A
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = favorable by >10% vs Recreation & Entertainment median · 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 $156K – $215K including a $40K franchise fee.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict A (Strongest tier), verdict score 73/100 (higher is better).
- GROWTHPositive: net +1 franchised outlets in the latest year (3 opened, 2 closed) (Item 20).
- GROWTHSystem growing at 75.0% CAGR over 3 years with 21 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Wild Bill's Soda Franchising, LLC
- Parent company
- Bluewater, LLC
- FDD Item 1, page 9 of the 2025 FDD
- CEO title
- Chief Executive Officer
- Michael Quilty
- Incorporated in
- New Jersey
- HQ
- 50 Division Avenue, Building 1, Suite 42, Millington, New Jersey 07946
- Auditor
- WithumSmith+Brown, PC
- Audited financials
- Franchisor revenue
- $1.1M
- vs $1.3M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Affiliated brands
- Bluewater
- maintains a pr
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Michael Quilty
- Headquarters
- NJ
- Founded
- 2014
- FDD year
- 2025
- States available
- 12
Can you afford it, and what does the money buy?
Entry cost runs 67% below the typical recreation & entertainment franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown15 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $40K | $40K | |
| Construction, Leasehold Improvements, Furniture and Fixtures | $500 | $600 | |
| Equipment | $72K | $111K | |
| Mobile Stand Signage | $7K | $8K | |
| Computer, Software and Point of Sales System | $650 | $2K | |
| Opening Inventory | $14K | $17K | |
| Rent Deposits | $1K | $2K | |
| Utility Deposits | $50 | $250 | |
| Insurance Deposits and Premiums | $2K | $2K | |
| Initial Training Expenses | $100 | $5K | |
| Event Registration Fees | $5K | $10K | |
| Professional Fees | $2K | $3K | |
| Business Permits and Licenses | $250 | $400 | |
| Printing, Stationery and Office Supplies | $100 | $250 | |
| Additional funds - 3 Months | $11K | $15K | |
| Total initial investment | $156K | $215K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $156K – $215K
- Top 40% of category vs category
- Liquid capital req'd
- $11K – $15K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Top 40% of category vs category
- Royalty
- Up to 5% of Gross Revenues for Third Party Products
- Ad fund
- 2000 per stand per year
- Total fee load
- 5.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | Currently no royalty payment. We reserve the right to implement a royalty payment up to 5% of your Gross Revenues for Third Party Products |
| Training fee | $300 |
| Transfer fee | $10K |
| Renewal fee | $6K |
| Inventory (initial) | $14K – $17K |
| Total fee load | 5.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Wild Bill's makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. 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 Wild Bill's 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, royalty rate, ad fund rate, 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: 2025 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 5.0% — below the Recreation & Entertainment median of 8.0%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 75.0% CAGR over 3 years across 21 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Recreation & Entertainment medians
How Wild Bill's Compares
Category median of published Recreation & Entertainment 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.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 21
- Opened
- 3
- Last reporting year
- Closed
- 2
- Turnover rate
- 9.5%
- Company-owned
- 7
- Corporate units in the system
- % franchised
- 67%
- vs corporate-owned
- Net growth (3-yr)
- +75.0%
- Net unit change over 3 years
- 3-yr CAGR
- +75.0%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Ceased ops
- 9.5%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 12 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
12
states with franchisees (per FDD Item 12)
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
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
- $63K
- Median loan
- $63K
- average
- Charge-off rate
- Under 10 loans (1)
- Insufficient SBA coverage: 1 loan, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (1)
- 5-yr charge-off
- Under 10 loans (1)
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Small 21-unit mobile vending system with thin $110,478 net worth, though profitable ($246,914 net income) and growing (+75%). No litigation or bankruptcy. No Item 19 disclosure and weak equity cushion are the concerns.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · WithumSmith+Brown, PC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Franchisor derived $1,005,475 (95% of total revenue of $1,063,620 in FY2024) from required product purchases (syrup, mugs) made by franchisees.
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 73 / 100 verdict
- 01MINORThin franchisor net worth of $110,478
- 02MINORNo Item 19 disclosure
- 03MINORProfitable: $246,914 net income; +75% unit growth
- 04MINORNo litigation, no bankruptcy, audited
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 5.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 200 mi |
| Territory population | 2,000,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 50 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 45 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 21 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 12 hrs
- On-the-job training
- 20 hrs
- Training location
- On-site and franchisor location
- Ongoing training
- Required
- Site selection
- franchisor approves territory; no fixed retail site required (warehouse space ~500 sq ft)
- Franchisor financing
- Offered
- Item 10
- POS system
- iPad Cash Register
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: iPad Cash Register
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wild Bill's franchise?
The total investment to open a Wild Bill's franchise ranges from $156K – $215K, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Wild Bill's franchise owners earn?
Wild Bill's makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Wild Bill's?
Wild Bill's is franchised by Wild Bill's Soda Franchising, LLC. Its parent company is Bluewater, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Wild Bill's 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 Wild Bill's FDD and qualifies whose outlets they describe.
What is Wild Bill's's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Wild Bill's (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 Wild Bill's franchise locations are there?
As of their most recent FDD filing, Wild Bill's has 21 total units in the United States, including 14 franchised units and 7 company-owned units. 3 new units were opened in the latest reporting year.
Is Wild Bill's a good franchise to buy?
FranchiseVerdict rates Wild Bill's as a A-grade franchise with a verdict score of 73 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.