Zenshi / AFC / Wild Blue Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
AFC (Advanced Fresh Concepts) and its Wild Blue and Zenshi brands run made-fresh sushi and prepared-food counters inside supermarkets and food courts. Franchisees operate a compact in-store station preparing sushi and poke to order.
FranchiseVerdict summary · 2026
A Zenshi / AFC / Wild Blue franchise requires a total initial investment of $41K – $139K, including a $1K – $6K franchise fee and an ongoing 8.0% royalty[2]. The 2024 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $41K – $139K
- 1st pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 8.0%
- 35th pct Service Resta…
- Units
- 2,274
- 38th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-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 $41K – $139K including a $6K franchise fee, 8.0% ongoing royalty.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict C (Average), verdict score 46/100 (higher is better).
- FLAGBankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Advanced Fresh Concepts Franchise Corp.
- Parent company
- Advanced Fresh Concepts Corp. (AFCC)
- Ultimate parent
- Zensho Holdings Co., Ltd.
- CEO title
- Chief Executive Officer, President, Secretary and Chief Financial Officer
- Jeffery Seiler
- Incorporated in
- California
- HQ
- 19700 Mariner Avenue, Torrance, California 90503
- Auditor
- SingerLewak LLP
- Audited financials
- Franchisor revenue
- $588.2M
- vs $648.3M prior year
Overview
About
- CEO
- Jeffery Seiler
- Headquarters
- CA
- Founded
- 2002
- FDD year
- 2024
- States available
- 30
Can you afford it, and what does the money buy?
Entry cost runs 92% below the typical full-service restaurants franchise.
Source: FDD 2024 · Items 5–7
Full Item 7 breakdown24 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Fee | $0 | $6K | |
| Credit and Background Check Fee | $100 | $100 | |
| Tuberculosis, Drug Testing and Criminal Background Checks | $100 | $2K | |
| Training Fee | $1K | $5K | |
| Training Fee for your managers | $0 | $2K | |
| ServSafe Food Protection Manager Training, Testing and Certification | $275 | $550 | |
| ServSafe Allergen Awareness Training and Testing | $10 | $30 | |
| Travel and Living Expenses while Training | $2K | $12K | |
| Operating Manual/SSOP/Sushi Recipe Guide/Wild Blue Recipe Guide/Steam Table Manual Fee | $300 | $600 | |
| Purchase of already existing AFC operated Food Service Counter from us | $1K | $100K | |
| Opening Food Inventory | $8K | $24K | |
| Signage | $0 | $1K | |
| Opening Assistance | $0 | $2K | |
| Labeling machine (Tablet and label printer) and inventory scanner | $900 | $2K | |
| Warranty Service for labeling machine (Tablet) | $99 | $199 | |
| Data and Web Access Fee for Tablet | $120 | $225 | |
| Equipment and Small Wares | $15K | $46K | |
| Insurance (per location) | $700 | $5K | |
| Additional Uniforms | $0 | $350 | |
| Licenses & Permits | $300 | $2K | |
| Total initial investment | $36K | $239K |
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
- $41K – $139K
- Top 40% of category vs category
- Liquid capital req'd
- $6K – $25K
- Top 40% of category vs category
- Franchise fee
- $1K – $6K
- Top 40% of category vs category
- Royalty
- 8.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- -n/d
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Technology fee | $100 |
| Transfer fee | $2K |
| Renewal fee | $6K |
| Inventory (initial) | $8K – $24K |
| Total fee load | 8.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Zenshi / AFC / Wild Blue did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Zenshi / AFC / Wild Blue unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
50%
Within the 30–60% "attractive franchise" band
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: 2024 FDD
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
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 8.0% (near the Full-Service Restaurants average).
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
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 Full-Service Restaurants averages
How Zenshi / AFC / Wild Blue Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 2,274
- Opened
- 350
- Last reporting year
- Closed
- 17
- Terminated
- 179
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 27
- Term expired, not renewed (per Item 20)
- Turnover rate
- 12.0%
- Company-owned
- 57
- Corporate units in the system
- % franchised
- 98%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 350
- Closed (3yr)
- 17
- Terminated (3yr)
- 179
- Non-renewed (3yr)
- 27
- Transfers (3yr)
- 21
- Reacquired (3yr)
- 53
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 30 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.
30
states with franchisees (per FDD Item 12)
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
Large 1,997-unit food-service-counter system with 5 litigation matters, which is proportionate to system size (not alarming for ~2,000 units). No bankruptcy or going-concern, audited financials. Concerns: no Item 19 disclosure and a large reported net growth of -53.8%, though the near-all-company-owned unit structure (1,857 of 1,997) complicates that figure.
Litigation (Item 3)
0 case reference(s): 3 pending, 0 settled.
Bankruptcy (Item 4)
Disclosed in last 7 years
Bankruptcy Code; (b) obtained a discharge of its debts under the bankruptcy code; or (c) was a principal officer of a company or a general partner in a partnership that either filed as a debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code or that obtained a
Audited financials (Item 21)
Yes · SingerLewak LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
Score breakdown · what drove the 46 / 100 verdict
- 01MINOR5 suits, but proportionate to ~2,000-unit system
- 02MINORNo Item 19 disclosure
- 03MINORReported net growth -53.8% (unit-mix reclassification likely)
- 04MINORNo bankruptcy/going-concern; audited
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · 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 | Specific location |
| Protected territory | No |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 90 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 6 |
View Item 3 litigation summary
0 case reference(s): 3 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 32 hrs
- On-the-job training
- 52 hrs
- Training location
- On-site and corporate
- Franchisor financing
- Offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
95 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Zenshi / AFC / Wild Blue · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Zenshi / AFC / Wild Blue franchise?
The total investment to open a Zenshi / AFC / Wild Blue franchise ranges from $41K – $139K, with an initial franchise fee of $6K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Zenshi / AFC / Wild Blue franchise owners earn?
Zenshi / AFC / Wild Blue does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Zenshi / AFC / Wild Blue 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 Zenshi / AFC / Wild Blue FDD and qualifies whose outlets they describe.
What is Zenshi / AFC / Wild Blue's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Zenshi / AFC / Wild Blue (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 Zenshi / AFC / Wild Blue franchise locations are there?
As of their most recent FDD filing, Zenshi / AFC / Wild Blue has 2,274 total units in the United States, including 2,217 franchised units and 57 company-owned units. 350 new units were opened in the latest reporting year.
Is Zenshi / AFC / Wild Blue a good franchise to buy?
FranchiseVerdict rates Zenshi / AFC / Wild Blue as a C-grade franchise with a verdict score of 46 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
Are you the franchisor?
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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.