Franopolis

    Jersey Mikes

    Franchise research report · reviewed 2026 disclosure data

    Researching Jersey Mikes franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources
    Headquarters
    1 CommVault Way Suite 300, Tinton Falls, NJ 07724, US
    Source: investors.jerseymikes.com

    Jersey Mike's franchise specializes in authentic submarine sandwiches made with premium meats and cheeses sliced fresh to order, operating hundreds of locations

    Headline figures

    Quick facts

    How much does it cost to open a Jersey Mikes franchise?
    The Jersey Mikes Franchise Disclosure Document reports an estimated initial investment of $436,176–$1,162,228 (2026 FDD, Item 7, PDF p. 24). This is the franchisor's disclosed estimate, not a quote. Details
    What is the Jersey Mikes initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $20,000 (2026 FDD, Item 5, PDF p. 15). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does Jersey Mikes charge?
    The disclosed ongoing royalty is $7 (2026 FDD, Item 6, PDF p. 16). The brand or advertising fund contribution is $6 (2026 FDD, Item 6, PDF p. 16). Other recurring fees are listed in Item 6. Details
    Does Jersey Mikes disclose financial performance (Item 19)?
    Yes. The Jersey Mikes FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 58). Figures apply only to the locations and period each one covers. Details

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1Opening costs are estimated at $436,176 – $1,162,228 in the 2026 FDD (Item 7); several initial fee options apply.
    2. 2Item 19 reports other measures for 2,606 Third-party franchisee-operated locations.

    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

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 15
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    Continuing royalty rateMain ongoing fee

    39 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?

    One reported population. Revenue is not owner income.

    Locations counted: not stated in the reviewed record

    Other measures · 2,606 locations

    Who is counted
    Traditional Franchised Restaurants
    Method
    Company obtained data by polling its designated POS System

    Outlet Changes — Item 20

    How has the outlet count changed?

    Coverage not stated in the reviewed record · counts as of year end of each year.

    2026 FDD · Item 20 ·

    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 ($436,176 – $1,162,228) 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?

    • 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. [1]Estimated initial investment — Item 7 · PDF p. 24
    2. [2]Standard initial franchise fee — Item 5 · PDF p. 15
    3. [3]Item 19 — Locations counted not stated in the reviewed record · PDF p. 58

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page.

    Territory & operations

    No territory or operating requirements have been reviewed yet.

    1,044 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 yearMeasureReported value
    2025a sub above, llc accounts receivable$2,412
    2025a sub above, llc trade name$5,710,000
    2025a sub above, llc cash and cash equivalents$11,557
    2025a sub above, llc total liabilities and members' equity$7,438,097
    2025a sub above, llc interest incomeMore than one value recorded for this year — open the FDD source before comparing-$2
    2025a sub above, llc income before income tax expenseMore than one value recorded for this year — open the FDD source before comparing$10,145
    2025a sub above, llc accounts receivable changeMore than one value recorded for this year — open the FDD source before comparing-$2,274
    2025a sub above, llc total other expenses, netMore than one value recorded for this year — open the FDD source before comparing$132
    2025a sub above, llc amortization expenseMore than one value recorded for this year — open the FDD source before comparing$93,698
    2025a sub above, llc royalties, franchisee fees and other revenueMore than one value recorded for this year — open the FDD source before comparing$298,454
    2025a sub above, llc member's distributions, netMore than one value recorded for this year — open the FDD source before comparing-$268,393
    2025a sub above, llc net cash used in financing activitiesMore than one value recorded for this year — open the FDD source before comparing-$268,049
    2025a sub above, llc accounts receivable changeMore than one value recorded for this year — open the FDD source before comparing$6,597
    2025a sub above, llc accounts payable/accrued expenses changeMore than one value recorded for this year — open the FDD source before comparing-$1,876
    2025a sub above, llc cash at beginning of yearMore than one value recorded for this year — open the FDD source before comparing$13,392
    2025holdco consolidated trade name$5,710
    2025a sub above, llc net decrease/increase in cashMore than one value recorded for this year — open the FDD source before comparing$4,523
    2025a sub above, llc cash at end of periodMore than one value recorded for this year — open the FDD source before comparing$11,557
    2025holdco consolidated total assets$8,181
    2025a sub above, llc balance at jan 15 2025$14,732
    2025holdco consolidated prepaid expenses and other current assets$18
    2025holdco consolidated total revenuesMore than one value recorded for this year — open the FDD source before comparing$28
    2025holdco consolidated advertising expensesMore than one value recorded for this year — open the FDD source before comparing$207
    2025holdco consolidated current portion of long-term debt$22
    2025holdco consolidated selling/general/administrative expenseMore than one value recorded for this year — open the FDD source before comparing$214
    2025holdco consolidated other non-current liabilities$65
    2025holdco consolidated share capital$6,318
    2025holdco consolidated total members' equity$5,903
    2025holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$96
    2025holdco consolidated total operating expensesMore than one value recorded for this year — open the FDD source before comparing$28
    2025holdco consolidated company-owned stores salesMore than one value recorded for this year — open the FDD source before comparing$36
    2025holdco consolidated company-owned stores expenseMore than one value recorded for this year — open the FDD source before comparing$1
    2025holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing-$4
    2025holdco consolidated total operating expensesMore than one value recorded for this year — open the FDD source before comparing$545
    2025holdco consolidated balance at jan 16 2025$6,317
    2025holdco consolidated incomeMore than one value recorded for this year — open the FDD source before comparing$60
    2025holdco consolidated income tax expense$1
    2025holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$59
    2025holdco consolidated payments on long-term debt-$17
    2025holdco consolidated accounts payable/accrued expenses/other liabilities changeMore than one value recorded for this year — open the FDD source before comparing$16
    2025holdco consolidated acquisition of intangible assets-$6
    2025holdco consolidated repayment/issuance notes receivableMore than one value recorded for this year — open the FDD source before comparing$5
    2025holdco consolidated net cash from financing activitiesMore than one value recorded for this year — open the FDD source before comparing-$107
    2025holdco consolidated net loss jan 2025-$4
    2025holdco consolidated net cash from investing activitiesMore than one value recorded for this year — open the FDD source before comparing$5
    2025holdco consolidated net increase in cash and restricted cashMore than one value recorded for this year — open the FDD source before comparing-$326
    2025a sub above, llc total equity$7,418,892
    2025holdco consolidated cash and cash equivalents$215
    2025holdco consolidated restricted cash$31
    2025holdco consolidated accounts receivable, net$41
    2025a sub above, llc total current assets$13,969
    2025a sub above, llc services due from manager$2,941
    2025a sub above, llc franchise agreements, net$1,665,833
    2025a sub above, llc other intangible assets, net$45,354
    2025a sub above, llc total assets$7,438,097
    2025a sub above, llc deferred revenue$3,433
    2025a sub above, llc total current liabilities$4,697
    2025a sub above, llc deferred revenue, non-current$14,508
    2025a sub above, llc total liabilities$19,205
    2025a sub above, llc net parent investment$7,507,398
    2025a sub above, llc other members' equity-$88,506
    2025a sub above, llc accounts payable and accrued expenses$1,264
    2025a sub above, llc royalties, franchisee fees and other revenueMore than one value recorded for this year — open the FDD source before comparing$11,389
    2025a sub above, llc selling, general and administrative expenseMore than one value recorded for this year — open the FDD source before comparing$31,479
    2025a sub above, llc selling, general and administrative expenseMore than one value recorded for this year — open the FDD source before comparing$1,112
    2025a sub above, llc operating incomeMore than one value recorded for this year — open the FDD source before comparing$266,975
    2025a sub above, llc operating incomeMore than one value recorded for this year — open the FDD source before comparing$10,277
    2025a sub above, llc interest incomeMore than one value recorded for this year — open the FDD source before comparing-$174
    2025a sub above, llc amortization expenseMore than one value recorded for this year — open the FDD source before comparing$134
    2025a sub above, llc total other expenses, netMore than one value recorded for this year — open the FDD source before comparing$93,524
    2025a sub above, llc income before income tax expenseMore than one value recorded for this year — open the FDD source before comparing$173,451
    2025a sub above, llc income tax expense$1
    2025a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$173,450
    2025a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$10,145
    2025a sub above, llc total comprehensive incomeMore than one value recorded for this year — open the FDD source before comparing$173,450
    2025a sub above, llc total comprehensive incomeMore than one value recorded for this year — open the FDD source before comparing$10,145
    2025a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$173,450
    2025a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$10,145
    2025a sub above, llc amortization of intangible assetsMore than one value recorded for this year — open the FDD source before comparing$93,698
    2025a sub above, llc amortization of intangible assetsMore than one value recorded for this year — open the FDD source before comparing$134
    2025a sub above, llc amortization of services due from manager$738
    2025a sub above, llc prepaid expenses change$17
    2025a sub above, llc accounts payable/accrued expenses changeMore than one value recorded for this year — open the FDD source before comparing-$224
    2025a sub above, llc deferred revenue changeMore than one value recorded for this year — open the FDD source before comparing$809
    2025a sub above, llc deferred revenue changeMore than one value recorded for this year — open the FDD source before comparing$100
    2025a sub above, llc net cash from operating activitiesMore than one value recorded for this year — open the FDD source before comparing$266,214
    2025a sub above, llc net cash from operating activitiesMore than one value recorded for this year — open the FDD source before comparing$15,100
    2025a sub above, llc member's contributions$344
    2025a sub above, llc member's distributions, netMore than one value recorded for this year — open the FDD source before comparing-$10,577
    2025a sub above, llc net cash used in financing activitiesMore than one value recorded for this year — open the FDD source before comparing-$10,577
    2025a sub above, llc net decrease/increase in cashMore than one value recorded for this year — open the FDD source before comparing-$1,835
    2025a sub above, llc cash at beginning of yearMore than one value recorded for this year — open the FDD source before comparing$8,869
    2025a sub above, llc cash at end of periodMore than one value recorded for this year — open the FDD source before comparing$13,392
    2025a sub above, llc members' distributions net-$10,407
    2025a sub above, llc net income jan 2025$10,145
    2025a sub above, llc balance at jan 16 2025$7,507,398
    2025a sub above, llc balance at dec 28 2025$7,418,892
    2025holdco consolidated total current assets$305
    2025holdco consolidated property and equipment, net$9
    2025holdco consolidated franchise agreements, net and other intangibles$1,719
    2025holdco consolidated goodwill$395
    2025holdco consolidated other assets$43
    2025holdco consolidated accounts payable$22
    2025holdco consolidated accrued expenses and other current liabilities$107
    2025holdco consolidated total current liabilities$151
    2025holdco consolidated long term debt, net of current portion$2,062
    2025holdco consolidated total liabilities$2,278
    2025holdco consolidated additional paid in capital$8
    2025holdco consolidated retained deficit-$423
    2025holdco consolidated total liabilities and members' equity$8,181
    2025holdco consolidated royalties and other revenuesMore than one value recorded for this year — open the FDD source before comparing$464
    2025holdco consolidated royalties and other revenuesMore than one value recorded for this year — open the FDD source before comparing$19
    2025holdco consolidated advertising feesMore than one value recorded for this year — open the FDD source before comparing$196
    2025holdco consolidated advertising feesMore than one value recorded for this year — open the FDD source before comparing$7
    2025holdco consolidated company-owned stores salesMore than one value recorded for this year — open the FDD source before comparing$2
    2025holdco consolidated total revenuesMore than one value recorded for this year — open the FDD source before comparing$696
    2025holdco consolidated selling/general/administrative expenseMore than one value recorded for this year — open the FDD source before comparing$19
    2025holdco consolidated advertising expensesMore than one value recorded for this year — open the FDD source before comparing$8
    2025holdco consolidated company-owned stores expenseMore than one value recorded for this year — open the FDD source before comparing$28
    2025holdco consolidated operating income$151
    2025holdco consolidated interest incomeMore than one value recorded for this year — open the FDD source before comparing-$9
    2025holdco consolidated interest incomeMore than one value recorded for this year — open the FDD source before comparing-$1
    2025holdco consolidated interest expenseMore than one value recorded for this year — open the FDD source before comparing$99
    2025holdco consolidated interest expenseMore than one value recorded for this year — open the FDD source before comparing$5
    2025holdco consolidated other expense, net$1
    2025holdco consolidated incomeMore than one value recorded for this year — open the FDD source before comparing-$4
    2025holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$59
    2025holdco consolidated total comprehensive incomeMore than one value recorded for this year — open the FDD source before comparing$59
    2025holdco consolidated total comprehensive incomeMore than one value recorded for this year — open the FDD source before comparing-$4
    2025holdco consolidated members' distributions jan 2025-$18
    2025holdco consolidated balance at jan 15 2025-$888
    2025holdco consolidated balance at dec 28 2025 total equity$5,903
    2025holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing-$4
    2025holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$96
    2025holdco consolidated amortization debt discount/deferred financing costs$16
    2025holdco consolidated stock-based compensation expense$8
    2025holdco consolidated accounts receivable, net changeMore than one value recorded for this year — open the FDD source before comparing$4
    2025holdco consolidated accounts receivable, net changeMore than one value recorded for this year — open the FDD source before comparing$4
    2025holdco consolidated prepaid expenses and other assets changeMore than one value recorded for this year — open the FDD source before comparing-$1
    2025holdco consolidated prepaid expenses and other assets changeMore than one value recorded for this year — open the FDD source before comparing-$3
    2025holdco consolidated accounts payable/accrued expenses/other liabilities changeMore than one value recorded for this year — open the FDD source before comparing$3
    2025holdco consolidated payment of assumed transaction bonus liability-$411
    2025holdco consolidated other, net$3
    2025holdco consolidated net cash from operating activities-$210
    2025holdco consolidated purchases of property and equipment-$5
    2025holdco consolidated repayment/issuance notes receivableMore than one value recorded for this year — open the FDD source before comparing$2
    2025holdco consolidated net cash from investing activitiesMore than one value recorded for this year — open the FDD source before comparing-$9
    2025holdco consolidated proceeds securitization debt$400
    2025holdco consolidated debt issuance costs-$9
    2025holdco consolidated capital contributed, net$1
    2025holdco consolidated members' distributions, netMore than one value recorded for this year — open the FDD source before comparing-$482
    2025holdco consolidated members' distributions, netMore than one value recorded for this year — open the FDD source before comparing$14
    2025holdco consolidated net cash from financing activitiesMore than one value recorded for this year — open the FDD source before comparing$14
    2025holdco consolidated net increase in cash and restricted cashMore than one value recorded for this year — open the FDD source before comparing$19
    2025holdco consolidated cash/restricted cash beginningMore than one value recorded for this year — open the FDD source before comparing$572
    2025holdco consolidated cash/restricted cash beginningMore than one value recorded for this year — open the FDD source before comparing$843
    2025holdco consolidated cash/restricted cash endingMore than one value recorded for this year — open the FDD source before comparing$246
    2025holdco consolidated cash/restricted cash endingMore than one value recorded for this year — open the FDD source before comparing$862
    2025holdco consolidated cash paid for interest$82
    2024a sub above, llc total current assets$15,621
    2024a sub above, llc other intangible assets, net$16,697
    2024a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$238,772
    2024a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$238,772
    2024holdco consolidated franchise agreements, net and other intangibles$19
    2024holdco consolidated accounts payable$19
    2024a sub above, llc deferred revenue change-$780
    2024a sub above, llc operating income$245,366
    2024a sub above, llc income tax expense$1
    2024a sub above, llc total comprehensive income$238,772
    2024a sub above, llc balance at dec 31 2024$14,994
    2024holdco consolidated total current assets$902
    2024holdco consolidated accounts receivable, net$49
    2024holdco consolidated total current liabilities$134
    2024holdco consolidated long term debt, net of current portion$1,752
    2024holdco consolidated company-owned stores sales$36
    2024holdco consolidated total liabilities and members' equity$1,044
    2024holdco consolidated interest expense$43
    2024holdco consolidated net income 2024$5
    2024holdco consolidated other, net$2
    2024holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$5
    2024holdco consolidated cash/restricted cash beginning$139
    2024holdco consolidated net cash from operating activities$38
    2024holdco consolidated proceeds securitization debt$750
    2024holdco consolidated cash/restricted cash ending$843
    2024holdco consolidated cash and cash equivalents$811
    2024holdco consolidated restricted cash$32
    2024a sub above, llc accounts payable and accrued expenses$3,363
    2024a sub above, llc cash and cash equivalents$8,869
    2024a sub above, llc accounts receivable$6,735
    2024a sub above, llc prepaid expenses$17
    2024a sub above, llc services due from manager$3,679
    2024a sub above, llc total assets$35,997
    2024a sub above, llc deferred revenue$3,429
    2024a sub above, llc total current liabilities$6,792
    2024a sub above, llc total equity$14,994
    2024a sub above, llc deferred revenue, non-current$14,211
    2024a sub above, llc total liabilities$21,003
    2024a sub above, llc other members' equity$14,994
    2024a sub above, llc total liabilities and members' equity$35,997
    2024a sub above, llc royalties, franchisee fees and other revenue$280,092
    2024a sub above, llc selling, general and administrative expense$34,726
    2024a sub above, llc interest income-$315
    2024a sub above, llc amortization expense$6,908
    2024a sub above, llc total other expenses, net$6,593
    2024a sub above, llc income before income tax expense$238,773
    2024a sub above, llc amortization of intangible assets$6,908
    2024a sub above, llc amortization of services due from manager$738
    2024a sub above, llc accounts receivable change-$1,783
    2024a sub above, llc prepaid expenses change-$8
    2024a sub above, llc accounts payable/accrued expenses change$226
    2024a sub above, llc net cash from operating activities$244,073
    2024a sub above, llc member's contributions$263
    2024a sub above, llc member's distributions, net-$248,595
    2024a sub above, llc net cash used in financing activities-$248,332
    2024a sub above, llc net decrease/increase in cash-$4,259
    2024a sub above, llc cash at beginning of year$13,128
    2024a sub above, llc cash at end of period$8,869
    2024a sub above, llc members' distributions net-$241,603
    2024a sub above, llc net income 2024$238,772
    2024holdco consolidated prepaid expenses and other current assets$10
    2024holdco consolidated property and equipment, net$90
    2024holdco consolidated other assets$33
    2024holdco consolidated total assets$1,044
    2024holdco consolidated accrued expenses and other current liabilities$96
    2024holdco consolidated current portion of long-term debt$19
    2024holdco consolidated other non-current liabilities$24
    2024holdco consolidated total liabilities$1,910
    2024holdco consolidated retained deficit-$866
    2024holdco consolidated total members' equity-$866
    2024holdco consolidated royalties and other revenues$434
    2024holdco consolidated advertising fees$183
    2024holdco consolidated total revenues$653
    2024holdco consolidated selling/general/administrative expense$349
    2024holdco consolidated advertising expenses$220
    2024holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$10
    2024holdco consolidated company-owned stores expense$30
    2024holdco consolidated total operating expenses$609
    2024holdco consolidated operating income$44
    2024holdco consolidated interest income-$5
    2024holdco consolidated income$6
    2024holdco consolidated income tax expense$1
    2024holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$5
    2024holdco consolidated total comprehensive income$5
    2024holdco consolidated members' distributions 2024-$35
    2024holdco consolidated balance at dec 31 2024-$866
    2024holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$10
    2024holdco consolidated amortization debt discount/deferred financing costs$4
    2024holdco consolidated accounts receivable, net change-$7
    2024holdco consolidated prepaid expenses and other assets change$4
    2024holdco consolidated accounts payable/accrued expenses/other liabilities change$20
    2024holdco consolidated purchases of property and equipment-$47
    2024holdco consolidated acquisition of intangible assets-$8
    2024holdco consolidated repayment/issuance notes receivable-$6
    2024holdco consolidated net cash from investing activities-$61
    2024holdco consolidated borrowings notes payable$31
    2024holdco consolidated payments on long-term debt-$3
    2024holdco consolidated debt issuance costs-$19
    2024holdco consolidated members' distributions, net-$32
    2024holdco consolidated net cash from financing activities$727
    2024holdco consolidated net increase in cash and restricted cash$704
    2024holdco consolidated cash paid for interest$37
    2023a sub above, llc cash at end of period$13,128
    2023holdco consolidated royalties and other revenues$371
    2023a sub above, llc royalties, franchisee fees and other revenue$246,599
    2023a sub above, llc selling, general and administrative expense$33,751
    2023a sub above, llc deferred revenue change$1,201
    2023a sub above, llc amortization expense$7,060
    2023a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$206,098
    2023a sub above, llc amortization of intangible assets$7,060
    2023a sub above, llc net cash from operating activities$214,780
    2023a sub above, llc balance at dec 31 2023$17,825
    2023holdco consolidated total operating expenses$504
    2023holdco consolidated balance at dec 31 2023-$836
    2023holdco consolidated total comprehensive income$21
    2023holdco consolidated operating income$57
    2023holdco consolidated interest income-$6
    2023holdco consolidated net cash from investing activities-$13
    2023holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$21
    2023holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$10
    2023holdco consolidated accounts receivable, net change$5
    2023holdco consolidated borrowings notes payable-$3
    2023holdco consolidated accounts payable/accrued expenses/other liabilities change$26
    2023holdco consolidated amortization debt discount/deferred financing costs$4
    2023a sub above, llc operating income$212,848
    2023a sub above, llc interest income-$311
    2023a sub above, llc total other expenses, net$6,749
    2023a sub above, llc income before income tax expense$206,099
    2023a sub above, llc income tax expense$1
    2023a sub above, llc net incomeMore than one value recorded for this year — open the FDD source before comparing$206,098
    2023a sub above, llc total comprehensive income$206,098
    2023a sub above, llc amortization of services due from manager$799
    2023a sub above, llc accounts receivable change-$653
    2023a sub above, llc prepaid expenses change-$8
    2023a sub above, llc accounts payable/accrued expenses change$283
    2023a sub above, llc member's contributions$2,357
    2023a sub above, llc member's distributions, net-$215,277
    2023a sub above, llc net cash used in financing activities-$212,920
    2023a sub above, llc net decrease/increase in cash$1,860
    2023a sub above, llc cash at beginning of year$11,268
    2023a sub above, llc balance at jan 1 2023$19,166
    2023a sub above, llc members' distributions net-$207,439
    2023a sub above, llc net income 2023$206,098
    2023holdco consolidated advertising fees$160
    2023holdco consolidated company-owned stores sales$30
    2023holdco consolidated total revenues$561
    2023holdco consolidated selling/general/administrative expense$262
    2023holdco consolidated advertising expenses$208
    2023holdco consolidated depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$10
    2023holdco consolidated company-owned stores expense$24
    2023holdco consolidated interest expense$41
    2023holdco consolidated income$22
    2023holdco consolidated income tax expense$1
    2023holdco consolidated members' distributions 2023-$18
    2023holdco consolidated net income 2023$21
    2023holdco consolidated net incomeMore than one value recorded for this year — open the FDD source before comparing$21
    2023holdco consolidated other, net$1
    2023holdco consolidated net cash from operating activities$67
    2023holdco consolidated purchases of property and equipment-$3
    2023holdco consolidated acquisition of intangible assets-$5
    2023holdco consolidated repayment/issuance notes receivable-$5
    2023holdco consolidated members' distributions, net-$18
    2023holdco consolidated net cash from financing activities-$21
    2023holdco consolidated net increase in cash and restricted cash$33
    2023holdco consolidated cash/restricted cash beginning$106
    2023holdco consolidated cash/restricted cash ending$139
    2023holdco consolidated cash paid for interest$37
    2022holdco consolidated balance at dec 31 2022More than one value recorded for this year — open the FDD source before comparing-$839
    2022holdco consolidated balance at dec 31 2022More than one value recorded for this year — open the FDD source before comparing-$839
    —a sub above, llc members' distributions net-$261,956
    —holdco consolidated net income successor$59
    —a sub above, llc net income successor$173,450
    —holdco consolidated equity-based compensation$8
    —holdco consolidated members' distributions successor-$482
    —holdco consolidated capital contributed net$1

    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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    At a glance

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    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.