FRSTeam, Inc.
Franchise research report · reviewed 2026 disclosure data
Researching FRSTeam, Inc. franchise opportunities? Every figure below is cited to the FDD.
Reviewed sources
- Franchising since
- 2006 Source: franchise.org
- Headquarters
- Alpharetta, GA United States Source: franchise.org
FRSTeam franchise specializes in on-site fabric restoration services, cleaning and restoring upholstery, drapery, and other textiles for residential and commerc
Headline figures
Quick facts
- How much does it cost to open an FRSTeam, Inc. franchise?
- The FRSTeam, Inc. Franchise Disclosure Document reports an estimated initial investment of $138,875–$553,500 (2026 FDD, Item 7, PDF p. 24). This is the franchisor's disclosed estimate, not a quote. Details
- What ongoing fees does FRSTeam, Inc. charge?
- The disclosed ongoing royalty is $80 (2026 FDD, Item 6, PDF p. 23). The brand or advertising fund contribution is $1,250 a) — $1250 (2026 FDD, Item 6, PDF p. 19). Other recurring fees are listed in Item 6. Details
- Does FRSTeam, Inc. disclose financial performance (Item 19)?
- Yes. The FRSTeam, Inc. FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 63). Figures apply only to the locations and period each one covers. Details
- How many FRSTeam, Inc. locations are there?
- The FDD reports 49 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 65). Existing locations do not indicate territory availability. Details
From reviewed FDD figures only. Not a recommendation or projection.
What the disclosures show
- 1Opening costs are estimated at $138,875 – $553,500 in the 2026 FDD (Item 7); several initial fee options apply.
- 2Item 19 covers 13 separate groups: other measures for 2 Company Owned locations; adjusted operating results for 26 Franchised locations; adjusted operating results for 9 Franchised locations; other measures for 15 Franchised locations; adjusted operating results for 8 Franchised locations; other measures for 14 Franchised locations; adjusted operating results for 9 Franchised locations; other measures for 15 Franchised locations; other measures for 44 Franchised locations; other measures for 44 Franchised locations; other measures for 2 Company owned locations; other measures for 44 Franchise Owned locations; other measures for 46 Total locations. They are not combined.
- 3Outlets grew by 2 in 2025, to 49 (United States, as labeled in the FDD, Item 20).
From reviewed FDD figures only. Not a recommendation or projection.
Costs · Items 5–7
What does it cost to open?
Estimated opening costs and the fees payable to the franchisor.
Startup Investment — Item 7
Total estimated initial investment
2026 FDD · Item 7 · PDF p. 24
Ongoing Fees — Item 6
Selected recurring charges; payment bases and conditions remain attached to each fee.
- Minimum Monthly Royalty annual increase condition — market penetration less than 80% of national averageMain ongoing fee
52 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.
Financial Performance — Item 19
What results are disclosed—and for which locations?
13 separate populations, shown apart. Revenue is not owner income.
Locations counted: not stated in the reviewed record
Other measures · 2 locations
- Who is counted
- Company Owned full-year locations
- Method
- Gross revenue category /total for each location; reported means/medians.
Locations counted: not stated in the reviewed record
Adjusted operating results · 26 locations
Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.
- Who is counted
- 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4multiple territories
- Period
- percent meeting/exceeding average
- Excluded
- Five joined2024 ineligible; three insufficient reports; voluntary study for >=12monthoperators.
- Method
- Unaudited unreviewed voluntary income statements, not GAAP. Gross revenue accrual deliveries/services excludes remitted taxes/security refunds/authorized exclusions. Costs as source defined; royalties hypothetical under current FDD. Auto excludes insurance/depreciation; labor excludes benefits/unemployment; overhead may include owner comp.
Locations counted: not stated in the reviewed record
Adjusted operating results · 9 locations
Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.
- Who is counted
- 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4multiple territories; Top Third for this specific cost/margin measure
- Period
- Count
- Excluded
- Five joined2024 ineligible; three insufficient reports; voluntary study for >=12monthoperators.
- Method
- Unaudited unreviewed voluntary income statements, not GAAP. Gross revenue accrual deliveries/services excludes remitted taxes/security refunds/authorized exclusions. Costs as source defined; royalties hypothetical under current FDD. Auto excludes insurance/depreciation; labor excludes benefits/unemployment; overhead may include owner comp.
Locations counted: not stated in the reviewed record
Other measures · 15 locations
- Who is counted
- Top Third full-year franchises
- Period
- Above average percent
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Adjusted operating results · 8 locations
Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.
- Who is counted
- 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4multiple territories; Middle Third for this specific cost/margin measure
- Period
- Count
- Excluded
- Five joined2024 ineligible; three insufficient reports; voluntary study for >=12monthoperators.
- Method
- Unaudited unreviewed voluntary income statements, not GAAP. Gross revenue accrual deliveries/services excludes remitted taxes/security refunds/authorized exclusions. Costs as source defined; royalties hypothetical under current FDD. Auto excludes insurance/depreciation; labor excludes benefits/unemployment; overhead may include owner comp.
Locations counted: not stated in the reviewed record
Other measures · 14 locations
- Who is counted
- Middle Third full-year franchises
- Period
- Count
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Adjusted operating results · 9 locations
Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.
- Who is counted
- 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4multiple territories; Bottom Third for this specific cost/margin measure
- Period
- Count
- Excluded
- Five joined2024 ineligible; three insufficient reports; voluntary study for >=12monthoperators.
- Method
- Unaudited unreviewed voluntary income statements, not GAAP. Gross revenue accrual deliveries/services excludes remitted taxes/security refunds/authorized exclusions. Costs as source defined; royalties hypothetical under current FDD. Auto excludes insurance/depreciation; labor excludes benefits/unemployment; overhead may include owner comp.
Locations counted: not stated in the reviewed record
Other measures · 15 locations
- Who is counted
- Bottom Third full-year franchises
- Period
- Count
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Other measures · 44 locations
- Who is counted
- 42US and2Canada full-year franchises
- Period
- Count
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Other measures · 44 locations
- Who is counted
- Franchised full-year locations
- Period
- National account gross revenue
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Other measures · 2 locations
- Who is counted
- Company owned full-year locations
- Period
- National account gross revenue
- Method
- Franchisee-reported gross revenues; national account % each franchise national-account revenue divided by total; no recomputation.
Locations counted: not stated in the reviewed record
Other measures · 44 locations
- Who is counted
- Franchise Owned full-year locations
- Method
- Gross revenue category /total for each location; reported means/medians.
Locations counted: not stated in the reviewed record
Other measures · 46 locations
- Who is counted
- Total full-year locations
- Method
- Gross revenue category /total for each location; reported means/medians.
These groups are never combined. Adjusted company-owned operating results cannot be divided by franchised revenue to calculate a franchisee profit margin.
Outlet Changes — Item 20
How has the outlet count changed?
United States, as labeled in the FDD · counts as of September 30, 2025 of each year.
2026 FDD · Item 20 · PDF p. 65
Net +0 outlets, 2023–2025
Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.
Questions to investigate
Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.
For the franchisor
Which line items in the 2026 Item 7 estimate ($138,875 – $553,500) vary most by market, and why?
Which initial fee option would apply to my situation, and what conditions or discounts affect it?
Which locations are included in the Item 19 figures, and which were excluded?
Reported units went from 47 to 49 in 2025. How many new units opened, closed or changed hands?
Is a territory available in my area, and how is it defined in my agreement?
For current and former owners
How did your actual startup costs and timeline compare with the Item 7 estimate?
How many hours a week do you work in the business, and in what role?
How do your results compare with the Item 19 figures, and what explains the difference?
What support from the franchisor has been most and least useful?
For your advisors
Ask a franchise attorney to review the territory, renewal, transfer and termination terms.
Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.
Sources & vintage history
Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.
Citations (2026 FDD)
- [1]Estimated initial investment — Item 7 · PDF p. 24
- [2]Item 19 — Locations counted not stated in the reviewed record — Company Owned full-year locations · PDF p. 63
- [3]Item 19 — Locations counted not stated in the reviewed record — 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4mul… · PDF p. 57; PDF p. 58
- [4]Item 19 — Locations counted not stated in the reviewed record — 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4mul… · PDF p. 59; PDF p. 60; PDF p. 61; PDF p. 62
- [5]Item 19 — Locations counted not stated in the reviewed record — Top Third full-year franchises · PDF p. 63
- [6]Item 19 — Locations counted not stated in the reviewed record — 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4mul… · PDF p. 59; PDF p. 60; PDF p. 61; PDF p. 62
- [7]Item 19 — Locations counted not stated in the reviewed record — Middle Third full-year franchises · PDF p. 63
- [8]Item 19 — Locations counted not stated in the reviewed record — 26 voluntary Reporting Franchisees operating31of36territories;24US/2Canada;4mul… · PDF p. 59; PDF p. 60; PDF p. 61; PDF p. 62
- [9]Item 19 — Locations counted not stated in the reviewed record — Bottom Third full-year franchises · PDF p. 63
- [10]Item 19 — Locations counted not stated in the reviewed record — 42US and2Canada full-year franchises · PDF p. 63
- [11]Item 19 — Locations counted not stated in the reviewed record — Franchised full-year locations · PDF p. 63
- [12]Item 19 — Locations counted not stated in the reviewed record — Company owned full-year locations · PDF p. 63
- [13]Item 19 — Locations counted not stated in the reviewed record — Franchise Owned full-year locations · PDF p. 63
- [14]Item 19 — Locations counted not stated in the reviewed record — Total full-year locations · PDF p. 63
- [15]Outlet counts — Item 20, Table 1 · PDF p. 65
"PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD
Territory & operations
41 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.
These are contract disclosures, not confirmation that any territory is currently available.
Legal & agreement
Franchisor financial statements
| Fiscal year | Measure | Reported value |
|---|---|---|
| 2025 | accounts receivable, netMore than one value recorded for this year — open the FDD source before comparing | $11,322,303 |
| 2025 | insurance receivable, current portion | $1,000,000 |
| 2025 | rebates receivable | $2,491,384 |
| 2025 | inventory | $2,608,655 |
| 2025 | prepaid expenses | $3,022,274 |
| 2025 | current assets from discontinued operations | $999,736 |
| 2025 | total current assets | $36,950,401 |
| 2025 | property and equipment, net | $4,266,504 |
| 2025 | intangibles, netMore than one value recorded for this year — open the FDD source before comparing | $398,585,220 |
| 2025 | notes receivable, net of current portion and allowance for doubtful accounts | $1,975,915 |
| 2025 | insurance receivable, net of current portion | $5,542,162 |
| 2025 | operating cash flow change in funds held on behalf of others | $685,910 |
| 2025 | net cash provided by operating activities | $183,219 |
| 2025 | capitalization of internally developed software | -$2,427,672 |
| 2025 | purchases of property and equipment | -$1,018,487 |
| 2025 | net cash required by investing activities from continuing operations | -$3,446,159 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $245,799 |
| 2025 | payment of earnout provision | -$509,229 |
| 2025 | net proceeds from financing arrangements - revolving credit facility | $3,750,000 |
| 2025 | principal payments on financing arrangements | -$2,948,278 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $292,493 |
| 2025 | net increase | -$2,724,648 |
| 2025 | cash, beginning of period | $4,639,535 |
| 2025 | cash, end of period | $1,914,887 |
| 2025 | cash from continuing operations | $1,771,153 |
| 2025 | cash from discontinued operations | $143,734 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | -$6,807,086 |
| 2025 | cash paid during the year for income taxes | $4,309,000 |
| 2025 | net loss before noncontrolling interest | -$84,702,543 |
| 2025 | loss before taxes | -$13,967,282 |
| 2025 | total revenueMore than one value recorded for this year — open the FDD source before comparing | $62,799,728 |
| 2025 | total revenueMore than one value recorded for this year — open the FDD source before comparing | $257,840,537 |
| 2025 | direct payrollMore than one value recorded for this year — open the FDD source before comparing | $1,876,959 |
| 2025 | direct non-payrollMore than one value recorded for this year — open the FDD source before comparing | $27,088,407 |
| 2025 | direct non-payrollMore than one value recorded for this year — open the FDD source before comparing | $109,211,649 |
| 2025 | total direct costMore than one value recorded for this year — open the FDD source before comparing | $28,965,366 |
| 2025 | gross marginMore than one value recorded for this year — open the FDD source before comparing | $33,834,362 |
| 2025 | gross marginMore than one value recorded for this year — open the FDD source before comparing | $139,858,393 |
| 2025 | sg&a payrollMore than one value recorded for this year — open the FDD source before comparing | $9,456,691 |
| 2025 | sg&a payrollMore than one value recorded for this year — open the FDD source before comparing | $37,934,603 |
| 2025 | sg&a non-payrollMore than one value recorded for this year — open the FDD source before comparing | $9,711,114 |
| 2025 | total sg&aMore than one value recorded for this year — open the FDD source before comparing | $19,167,806 |
| 2025 | total sg&aMore than one value recorded for this year — open the FDD source before comparing | $80,880,582 |
| 2025 | ebitdaMore than one value recorded for this year — open the FDD source before comparing | $14,666,557 |
| 2025 | ebitdaMore than one value recorded for this year — open the FDD source before comparing | $58,977,810 |
| 2025 | amortization & depreciationMore than one value recorded for this year — open the FDD source before comparing | $5,520,401 |
| 2025 | operating incomeMore than one value recorded for this year — open the FDD source before comparing | $9,146,156 |
| 2025 | total other income/(expense)More than one value recorded for this year — open the FDD source before comparing | -$15,953,241 |
| 2025 | total other income/(expense)More than one value recorded for this year — open the FDD source before comparing | -$68,707,364 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | -$6,807,086 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | -$32,807,716 |
| 2025 | adfund adjustmentMore than one value recorded for this year — open the FDD source before comparing | $19,147 |
| 2025 | adfund adjustmentMore than one value recorded for this year — open the FDD source before comparing | $275,955 |
| 2025 | qofe adjustmentMore than one value recorded for this year — open the FDD source before comparing | $635,750 |
| 2025 | run rate/other adjustmentMore than one value recorded for this year — open the FDD source before comparing | $425,159 |
| 2025 | run rate/other adjustmentMore than one value recorded for this year — open the FDD source before comparing | $2,533,861 |
| 2025 | total adjustmentsMore than one value recorded for this year — open the FDD source before comparing | $604,804 |
| 2025 | total adjustmentsMore than one value recorded for this year — open the FDD source before comparing | $3,445,566 |
| 2025 | cash and cash equivalents | $3,910,350 |
| 2025 | other current assets | $17,263,999 |
| 2025 | property, plant, equipment, net | $5,735,204 |
| 2025 | intangibles, netMore than one value recorded for this year — open the FDD source before comparing | $422,418,278 |
| 2025 | other non-current assets | $9,763,838 |
| 2025 | non-current assets | $437,917,320 |
| 2025 | total assets | $485,371,580 |
| 2025 | accounts payable/accrued expenses | $18,936,856 |
| 2025 | deferred revenue | $3,350,418 |
| 2025 | other current liabilities | $5,868,943 |
| 2025 | current liabilities | $28,156,217 |
| 2025 | debt issuance costs | -$2,138,670 |
| 2025 | other long term liabilities | $56,659,078 |
| 2025 | long term liabilities | $392,874,826 |
| 2025 | gross margin percentMore than one value recorded for this year — open the FDD source before comparing | $54 |
| 2025 | gross margin percentMore than one value recorded for this year — open the FDD source before comparing | $54 |
| 2025 | ebitda percentMore than one value recorded for this year — open the FDD source before comparing | $23 |
| 2025 | ebitda percentMore than one value recorded for this year — open the FDD source before comparing | $23 |
| 2025 | operating income percentMore than one value recorded for this year — open the FDD source before comparing | $14 |
| 2025 | net income percentMore than one value recorded for this year — open the FDD source before comparing | -$11 |
| 2025 | net income percentMore than one value recorded for this year — open the FDD source before comparing | -$13 |
| 2025 | adjusted ebitda percentMore than one value recorded for this year — open the FDD source before comparing | $24 |
| 2025 | adjusted ebitda percentMore than one value recorded for this year — open the FDD source before comparing | $24 |
| 2025 | income taxes receivable | $3,019,836 |
| 2025 | cash | $1,771,153 |
| 2025 | royalties receivable | $8,100,249 |
| 2025 | long-term assets from discontinued operations | $6,291,323 |
| 2025 | earnout provision | $1,329,256 |
| 2025 | notes receivable, current portion | $2,614,811 |
| 2025 | right-of-use assets | $4,355,736 |
| 2025 | franchise fees | $8,442,620 |
| 2025 | total stockholders' equity | $125,199,326 |
| 2025 | provisionMore than one value recorded for this year — open the FDD source before comparing | $998,286 |
| 2025 | provisionMore than one value recorded for this year — open the FDD source before comparing | -$1,560,156 |
| 2025 | current portion of operating lease liabilities | $1,345,200 |
| 2025 | long-term liabilities from discontinued operations | $4,301,178 |
| 2025 | other assets | $110,266 |
| 2025 | accounts payable and accrued expenses | $12,746,433 |
| 2025 | deferred revenue on franchise sales | $1,188,972 |
| 2025 | deferred revenues from customer deposits | $1,077,732 |
| 2025 | funds held on behalf of others | $1,236,952 |
| 2025 | current portion of long-term debt | $2,948,278 |
| 2025 | total current liabilities | $24,561,344 |
| 2025 | operating lease liabilities | $4,215,670 |
| 2025 | long-term debt, net | $282,628,518 |
| 2025 | deferred income taxes | $17,821,075 |
| 2025 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $333,527,785 |
| 2025 | stockholders' equity common stock | $10 |
| 2025 | additional paid in capital | $320,076,462 |
| 2025 | accumulated deficit | -$194,877,146 |
| 2025 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $421,031,043 |
| 2025 | residential and commercial roofing | $5,198,132 |
| 2025 | product sales | $10,599,822 |
| 2025 | ancillary | $11,676,149 |
| 2025 | cost of fence and rail, residential and commercial roofing, w indow and door installation, and product sales | $26,429,517 |
| 2025 | operating expenses | $73,598,691 |
| 2025 | other income | $1,593,787 |
| 2025 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | -$20,059,470 |
| 2025 | interest expense | -$33,006,788 |
| 2025 | apic/retained earnings | $71,147,623 |
| 2025 | noncontrolling deficit | -$649,584 |
| 2025 | current liabilities from discontinued operations | $2,688,521 |
| 2025 | franchise royalties and advertising fund contributions | $76,153,472 |
| 2025 | interest income | $217,369 |
| 2025 | operating cash flow change in rebates receivable | -$602,224 |
| 2025 | net loss continuing operations | -$14,965,568 |
| 2025 | loss attributable to noncontrolling interest | $353,071 |
| 2025 | operating cash flow change in notes receivable | -$1,489,840 |
| 2025 | fence and rail revenues | $20,139,626 |
| 2025 | window and door installation | $5,106,207 |
| 2025 | net loss attributable to midocean b cat holdings, inc. and subsidiaries | -$84,349,472 |
| 2025 | operating cash flow change in other assets | $35,070 |
| 2025 | income from operations | $37,287,820 |
| 2025 | net cash provided by operating activities from continuing operations | $3,916,689 |
| 2025 | operating cash flow change in accounts receivable | $475,937 |
| 2025 | sg&a non-payrollMore than one value recorded for this year — open the FDD source before comparing | $42,945,979 |
| 2025 | operating incomeMore than one value recorded for this year — open the FDD source before comparing | $35,899,648 |
| 2025 | adjusted ebitdaMore than one value recorded for this year — open the FDD source before comparing | $62,423,376 |
| 2025 | current assets | $47,454,260 |
| 2025 | total liabilities & equity | $485,371,580 |
| 2025 | operating cash flow change in deferred revenues | -$673,544 |
| 2025 | net cash required by operating activities from discontinued operations | -$3,733,470 |
| 2025 | cash paid during the year for interest | $31,372,640 |
| 2025 | direct payrollMore than one value recorded for this year — open the FDD source before comparing | $8,770,495 |
| 2025 | total direct costMore than one value recorded for this year — open the FDD source before comparing | $117,982,144 |
| 2025 | adjusted ebitdaMore than one value recorded for this year — open the FDD source before comparing | $15,271,360 |
| 2025 | amortization & depreciationMore than one value recorded for this year — open the FDD source before comparing | $23,078,163 |
| 2025 | accounts receivable, netMore than one value recorded for this year — open the FDD source before comparing | $26,279,912 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$3,200,360 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $292,493 |
| 2025 | qofe adjustmentMore than one value recorded for this year — open the FDD source before comparing | $160,498 |
| 2025 | operating income percentMore than one value recorded for this year — open the FDD source before comparing | $15 |
| 2025 | debt | $338,354,418 |
| 2025 | total shareholder equity | $64,340,537 |
| 2025 | amortization of debt issuance costs | $1,604,288 |
| 2025 | net loss from continuing operations | -$14,965,568 |
| 2025 | bad debt expense | $1,604,821 |
| 2025 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | $20,059,470 |
| 2025 | self-insurance income | -$1,353,228 |
| 2025 | operating lease expense | $1,470,711 |
| 2025 | operating lease payments | -$1,478,052 |
| 2025 | stock-based compensation | $1,198,257 |
| 2025 | operating cash flow change in insurance receivable | $1,000,000 |
| 2025 | operating cash flow change in royalties receivable | -$767,432 |
| 2025 | operating cash flow change in inventory | $852,691 |
| 2025 | operating cash flow change in prepaid expenses | -$880,906 |
| 2025 | operating cash flow change in income taxes receivable | -$1,753,692 |
| 2025 | operating cash flow change in accounts payable and accrued expenses | $454,176 |
| 2024 | cash | $4,471,269 |
| 2024 | accounts receivable, net | $11,926,355 |
| 2024 | royalties receivable | $8,809,523 |
| 2024 | rebates receivable | $1,889,160 |
| 2024 | inventory | $3,461,346 |
| 2024 | notes receivable, current portion | $681,334 |
| 2024 | prepaid expenses | $2,141,368 |
| 2024 | income taxes receivable | $1,266,144 |
| 2024 | current assets from discontinued operations | $5,549,088 |
| 2024 | total current assets | $41,195,587 |
| 2024 | property and equipment, net | $4,444,144 |
| 2024 | notes receivable, net of current portion and allowance for doubtful accounts | $952,497 |
| 2024 | operating cash flow change in deferred revenues | -$1,884,450 |
| 2024 | net cash required by operating activities from discontinued operations | -$2,803,278 |
| 2024 | net cash provided by operating activities | $1,893,356 |
| 2024 | purchases of property and equipment | -$1,349,471 |
| 2024 | net cash required by investing activities from continuing operations | -$630,674 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $1,004,614 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $373,940 |
| 2024 | payment of earnout provision | -$429,055 |
| 2024 | principal payments on financing arrangements | -$2,728,510 |
| 2024 | debt issuance costs | -$105,450 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$2,288,015 |
| 2024 | net increase | -$20,719 |
| 2024 | cash, beginning of period | $4,660,254 |
| 2024 | cash from continuing operations | $4,471,269 |
| 2024 | cash from discontinued operations | $168,266 |
| 2024 | income from operations | $41,519,459 |
| 2024 | net loss continuing operations | -$20,809,581 |
| 2024 | net loss before noncontrolling interest | -$35,195,654 |
| 2024 | right-of-use assets | $5,246,180 |
| 2024 | insurance receivable, current portion | $1,000,000 |
| 2024 | intangibles, net | $415,020,891 |
| 2024 | accounts payable and accrued expenses | $12,292,257 |
| 2024 | franchise fees | $13,167,953 |
| 2024 | insurance receivable, net of current portion | $5,188,934 |
| 2024 | other assets | $145,336 |
| 2024 | long-term assets from discontinued operations | $72,056,024 |
| 2024 | deferred revenue on franchise sales | $1,564,172 |
| 2024 | deferred revenues from customer deposits | $1,376,076 |
| 2024 | funds held on behalf of others | $551,042 |
| 2024 | earnout provision | $1,838,485 |
| 2024 | current portion of operating lease liabilities | $1,336,628 |
| 2024 | current portion of long-term debt | $2,948,278 |
| 2024 | current liabilities from discontinued operations | $4,960,043 |
| 2024 | total current liabilities | $26,866,981 |
| 2024 | operating lease liabilities | $5,122,027 |
| 2024 | long-term debt, net | $280,222,508 |
| 2024 | deferred income taxes | $19,381,231 |
| 2024 | long-term liabilities from discontinued operations | $4,602,818 |
| 2024 | stockholders' equity common stock | $10 |
| 2024 | additional paid in capital | $318,878,205 |
| 2024 | accumulated deficit | -$110,527,674 |
| 2024 | residential and commercial roofing | $5,849,769 |
| 2024 | window and door installation | $3,448,901 |
| 2024 | product sales | $11,624,045 |
| 2024 | ancillary | $10,613,945 |
| 2024 | cost of fence and rail, residential and commercial roofing, w indow and door installation, and product sales | $26,068,176 |
| 2024 | other income | $1,676,694 |
| 2024 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | -$19,394,802 |
| 2024 | interest income | $321,941 |
| 2024 | interest expense | -$33,554,762 |
| 2024 | provisionMore than one value recorded for this year — open the FDD source before comparing | $10,769,702 |
| 2024 | loss attributable to noncontrolling interest | $176,630 |
| 2024 | net loss attributable to midocean b cat holdings, inc. and subsidiaries | -$35,019,024 |
| 2024 | noncontrolling deficit | -$296,513 |
| 2024 | fence and rail revenues | $24,961,275 |
| 2024 | total liabilities | $336,195,565 |
| 2024 | operating cash flow change in royalties receivable | -$1,310,885 |
| 2024 | operating cash flow change in funds held on behalf of others | -$1,209,432 |
| 2024 | total stockholders' equity | $208,350,541 |
| 2024 | franchise royalties and advertising fund contributions | $70,475,028 |
| 2024 | operating expenses | $72,553,281 |
| 2024 | cash paid during the year for income taxes | $799,000 |
| 2024 | operating cash flow change in accounts payable and accrued expenses | -$1,399,685 |
| 2024 | stockholder contributions | $975,000 |
| 2024 | operating cash flow change in insurance receivable | $1,000,000 |
| 2024 | operating cash flow change in income taxes receivable | -$1,266,144 |
| 2024 | capitalization of internally developed software | -$2,113,489 |
| 2024 | operating cash flow change in inventory | -$246,248 |
| 2024 | proceeds from sale of internally developed software | $420,000 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$2,288,015 |
| 2024 | operating cash flow change in prepaid expenses | $636,410 |
| 2024 | loss before taxes | -$10,039,879 |
| 2024 | operating cash flow change in income taxes payable | -$525,341 |
| 2024 | net cash provided by operating activities from continuing operations | $4,696,634 |
| 2024 | cash, end of period | $4,639,535 |
| 2024 | cash paid during the year for interest | $32,246,075 |
| 2024 | self-insurance income | -$1,354,380 |
| 2024 | net loss from continuing operations | -$20,809,581 |
| 2024 | bad debt expense | $471,052 |
| 2024 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | $19,394,802 |
| 2024 | amortization of debt issuance costs | $1,304,432 |
| 2024 | loss on sale of internally developed software | $23,242 |
| 2024 | loss on disposal of subsidiary | $608,409 |
| 2024 | operating lease expense | $1,290,019 |
| 2024 | operating lease payments | -$1,037,976 |
| 2024 | provisionMore than one value recorded for this year — open the FDD source before comparing | $10,769,702 |
| 2024 | stock-based compensation | $634,148 |
| 2024 | operating cash flow change in accounts receivable | -$518,831 |
| 2024 | operating cash flow change in rebates receivable | -$73,676 |
| 2024 | operating cash flow change in notes receivable | $206,849 |
| 2024 | operating cash flow change in other assets | -$5,802 |
| 2023 | cash | $3,948,316 |
| 2023 | accounts receivable, net | $11,878,576 |
| 2023 | insurance receivable, current portion | $1,000,000 |
| 2023 | rebates receivable | $1,815,484 |
| 2023 | inventory | $3,215,098 |
| 2023 | notes receivable, current portion | $145,704 |
| 2023 | prepaid expenses | $2,777,778 |
| 2023 | total current assets | $40,798,677 |
| 2023 | property and equipment, net | $3,767,088 |
| 2023 | intangibles, net | $431,651,781 |
| 2023 | right-of-use assets | $3,984,068 |
| 2023 | notes receivable, net of current portion and allowance for doubtful accounts | $394,976 |
| 2023 | operating cash flow change in accounts payable and accrued expenses | $3,693,413 |
| 2023 | net cash required by operating activities from discontinued operations | -$36,832 |
| 2023 | net cash provided by operating activities | $2,627,438 |
| 2023 | capitalization of internally developed software | -$95,392 |
| 2023 | purchases of property and equipment | -$1,928,439 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$858,915 |
| 2023 | payment of earnout provision | -$4,406,310 |
| 2023 | debt issuance costs | -$500,000 |
| 2023 | stockholder contributions | $25,000,000 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $17,642,190 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $17,642,190 |
| 2023 | net increase | $469,126 |
| 2023 | cash, beginning of period | $4,191,128 |
| 2023 | cash from continuing operations | $3,948,316 |
| 2023 | cash from discontinued operations | $711,938 |
| 2023 | income from operations | $30,974,755 |
| 2023 | net loss continuing operations | -$28,270,834 |
| 2023 | net loss before noncontrolling interest | -$61,648,718 |
| 2023 | loss before taxes | -$42,430,631 |
| 2023 | current assets from discontinued operations | $8,519,083 |
| 2023 | long-term assets from discontinued operations | $90,175,231 |
| 2023 | net loss attributable to midocean b cat holdings, inc. and subsidiaries | -$61,528,635 |
| 2023 | royalties receivable | $7,498,638 |
| 2023 | deferred revenues from customer deposits | $1,518,782 |
| 2023 | insurance receivable, net of current portion | $4,834,554 |
| 2023 | total current liabilities | $63,741,883 |
| 2023 | total liabilities | $334,105,375 |
| 2023 | operating lease expense | $1,316,339 |
| 2023 | net cash required by investing activities from continuing operations | -$18,941,587 |
| 2023 | other assets | $139,534 |
| 2023 | accounts payable and accrued expenses | $13,691,942 |
| 2023 | deferred revenue on franchise sales | $3,305,916 |
| 2023 | funds held on behalf of others | $1,760,474 |
| 2023 | income taxes payable | $525,341 |
| 2023 | earnout provision | $2,267,540 |
| 2023 | current portion of operating lease liabilities | $1,009,942 |
| 2023 | current portion of long-term debt | $2,639,000 |
| 2023 | current liabilities from discontinued operations | $7,022,946 |
| 2023 | long-term debt, net | $252,061,314 |
| 2023 | deferred income taxes | $8,611,529 |
| 2023 | long-term liabilities from discontinued operations | $5,756,091 |
| 2023 | noncontrolling deficit | -$119,883 |
| 2023 | stockholders' equity common stock | $10 |
| 2023 | additional paid in capital | $317,269,057 |
| 2023 | accumulated deficit | -$75,508,650 |
| 2023 | fence and rail revenues | $23,390,797 |
| 2023 | window and door installation | $4,131,506 |
| 2023 | product sales | $1,058,329 |
| 2023 | cost of fence and rail, residential and commercial roofing, w indow and door installation, and product sales | $24,051,826 |
| 2023 | other income | $1,782,111 |
| 2023 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | -$16,871,795 |
| 2023 | interest income | $101,896 |
| 2023 | interest expense | -$28,417,598 |
| 2023 | provisionMore than one value recorded for this year — open the FDD source before comparing | -$14,159,797 |
| 2023 | loss attributable to noncontrolling interest | $120,083 |
| 2023 | operating cash flow change in insurance receivable | $1,390,788 |
| 2023 | operating cash flow change in notes receivable | $197,099 |
| 2023 | operating lease liabilities | $3,934,558 |
| 2023 | operating cash flow change in other assets | $8,451 |
| 2023 | total stockholders' equity | $241,760,417 |
| 2023 | franchise fees | $11,526,937 |
| 2023 | ancillary | $8,493,363 |
| 2023 | franchise royalties and advertising fund contributions | $58,340,329 |
| 2023 | residential and commercial roofing | $9,875,832 |
| 2023 | operating expenses | $61,790,512 |
| 2023 | operating cash flow change in deferred revenues | -$294,431 |
| 2023 | net cash provided by operating activities from continuing operations | $2,664,270 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$19,800,502 |
| 2023 | principal payments on financing arrangements | -$2,451,500 |
| 2023 | bad debt expense | -$141,317 |
| 2023 | operating cash flow change in prepaid expenses | $361,203 |
| 2023 | operating cash flow change in accounts receivable | -$2,763,094 |
| 2023 | cash, end of period | $4,660,254 |
| 2023 | operating cash flow change in funds held on behalf of others | $3,819 |
| 2023 | operating cash flow change in income taxes payable | $525,341 |
| 2023 | operating cash flow change in rebates receivable | -$1,815,484 |
| 2023 | cash paid during the year for interest | $27,294,513 |
| 2023 | cash paid during the year for income taxes | $2,139,000 |
| 2023 | net loss from continuing operations | -$28,270,834 |
| 2023 | depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing | $16,871,795 |
| 2023 | amortization of debt issuance costs | $1,123,085 |
| 2023 | self-insurance income | -$1,349,837 |
| 2023 | operating lease payments | -$1,304,443 |
| 2023 | provisionMore than one value recorded for this year — open the FDD source before comparing | -$16,617,683 |
| 2023 | stock-based compensation | $1,394,132 |
| 2023 | operating cash flow change in royalties receivable | -$1,092,455 |
| 2023 | operating cash flow change in inventory | -$1,043,705 |
| 2023 | operating cash flow change in income taxes receivable | $1,065,778 |
These figures describe the franchisor company, not individual franchise locations.
SBA-backed loans to franchisees
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Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.
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Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.