SB

    Streamline Brands

    Franchise research report · reviewed 2025 disclosure data

    Researching Streamline Brands franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources

    SafeSplash Swim School franchises provide swimming instruction and aquatic education. Franchisees operate swim schools offering lessons and programs.

    Headline figures

    Streamline Brands quick facts

    Is Streamline Brands a franchise?
    Yes. Streamline Brands offers franchises through a Franchise Disclosure Document. At the end of 2024, it reported 90 franchised and 0 company-owned outlets (2025 FDD, Item 20, PDF p. 76).
    How much does it cost to open a Streamline Brands franchise?
    The Streamline Brands Franchise Disclosure Document reports separate estimated initial investments by format: $944,950–$1,327,700 for dedicated location — total estimated initial investment (2025 FDD, Item 7, PDF p. 32); $1,054,950–$1,487,700 for dedicated location with swimlabs package — total estimated initial investment (2025 FDD, Item 7, PDF p. 32); $73,500–$306,000 for conversion only (conversion dedicated location — total estimated initial investment) (2025 FDD, Item 7, PDF p. 33); $57,500–$81,000 for hosted location — total estimated initial investment (2025 FDD, Item 7, PDF p. 34); $24,250–$57,250 for conversion only (conversion hosted location — total estimated initial investment) (2025 FDD, Item 7, PDF p. 34). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Streamline Brands charge?
    The disclosed ongoing royalty is 6% · non-conversion): 6% of Gross Revenues (2025 FDD, Item 6, PDF p. 26). The brand or advertising fund contribution is 2% (2025 FDD, Item 6, PDF p. 27). Other recurring fees are listed in Item 6. Details
    Does Streamline Brands disclose financial performance (Item 19)?
    Yes. The Streamline Brands FDD includes an Item 19 financial performance representation (2025 FDD, Item 19, PDF p. 69). Figures apply only to the locations and period each one covers. Details
    How many Streamline Brands locations are there?
    The FDD reports 90 outlets at the end of 2024 (2025 FDD, Item 20, PDF p. 76). Existing locations do not indicate territory availability. Details
    Is Streamline Brands a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

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

    What the disclosures show

    1. 1The 2025 FDD (Item 7) estimates opening costs separately by format: $944,950 – $1,327,700 (Dedicated Location — Total Estimated Initial Investment); $1,054,950 – $1,487,700 (Dedicated Location with SwimLabs Package — Total Estimated Initial Investment); $73,500 – $306,000 (Conversion Dedicated Location — Total Estimated Initial Investment); $57,500 – $81,000 (Hosted Location — Total Estimated Initial Investment); $24,250 – $57,250 (Conversion Hosted Location — Total Estimated Initial Investment); several initial fee options apply.
    2. 2Item 19 covers 18 separate groups: revenue and other measures and EBITDA for 12 locations; revenue for 12 locations; revenue and other measures for 9 locations; other measures and revenue for 14 locations; revenue for 16 locations; revenue and other measures and EBITDA for 11 locations; revenue and other measures and EBITDA for 4 locations; revenue and other measures for 12 locations; revenue and EBITDA for 12 locations; other measures and revenue for 4 locations; revenue for 4 locations; other measures and revenue for 5 locations; other measures and revenue for 11 locations; other measures and revenue for 23 locations; other measures for 16 locations; other measures and revenue for 4 locations; revenue and other measures for 7 locations; other measures and EBITDA and revenue for 7 locations. They are not combined.
    3. 3Outlets declined by 13 in 2024, to 90 (Systemwide, as labeled in the FDD, Item 20).

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

    Streamline Brands head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 5 single-unit formats

    2025 FDD · Item 7

    Formats disclosed in Item 7 (5)

    Each format has its own total. The total depends on the format you choose.

    • Conversion Hosted LocationPDF p. 34$24,250 – $57,250
    • Hosted LocationPDF p. 34$57,500 – $81,000
    • Conversion Dedicated LocationPDF p. 33$73,500 – $306,000
    • Dedicated LocationPDF p. 32$944,950 – $1,327,700
    • Dedicated Location with SwimLabs PackagePDF p. 32$1,054,950 – $1,487,700

    Ongoing Fees — Item 6

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

    Royalty — Dedicated and Hosted LocationsMain ongoing fee

    48 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?

    18 separate populations, shown apart. Revenue is not owner income.

    12 locations

    Revenue, EBITDA and other measures · 12 locations

    Who is counted
    Franchised Dedicated Locations operating throughout FY2024 (standard format, excluding SwimLabs Technology Package units)
    Period
    FY2024: 2%
    Excluded
    Table 1 includes 12 of 16 Franchised Dedicated Locations; four opened in 2024 and were excluded because they did not operate throughout FY2024. No Franchised Dedicated Locations were permanently closed. The table excludes SwimLabs Technology Package locations, affiliate-owned dedicated locations, Hosted Locations, and conversions. For management payroll, 9 of 12 locations had managers on staff; the other 3 did not incur expenses in that line.
    Method
    Actual Gross Revenues and expense data for the stated period.

    12 locations

    Revenue · 12 locations

    Who is counted
    Franchised Dedicated Locations operating throughout FY2024
    Period
    FY2024: 42%
    Excluded
    Table 1 includes 12 of 16 Franchised Dedicated Locations; four locations opened in 2024 and were excluded because they did not operate throughout FY2024. No Franchised Dedicated Locations were permanently closed.
    Method
    Actual Gross Revenues and expense data for the stated period.

    9 locations

    Revenue and other measures · 9 locations

    Who is counted
    Franchisees operating 2 to 3 Hosted Locations
    Excluded
    Item 19 states the data includes 53 of 62 Hosted Locations; it excludes six locations first opened in 2024 and three that closed for portions of FY2024 because they were not open all year, plus 19 permanently closed locations and one temporarily closed location not open as of December 31, 2024.
    Method
    Gross Revenues grouped by number of Hosted Locations operated by each franchisee.

    14 locations

    Revenue and other measures · 14 locations

    Who is counted
    Franchised Hosted Locations grouped by average operating days per week: 1 to 2 operating days during FY2024
    Excluded
    Table 3 includes 53 of 62 Hosted Locations; it excludes six locations first opened in FY2024 and three that closed for part of FY2024 because they were not open all year, plus 19 permanently closed locations and one temporarily closed at year-end.
    Method
    Gross Revenues grouped by average number of operating days per week.

    16 locations

    Revenue · 16 locations

    Who is counted
    Franchised Hosted Locations averaging 5 or more operating days per week during FY2024
    Excluded
    Table 3 includes 53 of 62 Hosted Locations; it excludes six first opened during FY2024, three closed for part of FY2024, 19 permanently closed, and one temporarily closed at year-end.
    Method
    Gross Revenues grouped by average number of operating days per week.

    11 locations

    Revenue, EBITDA and other measures · 11 locations

    Who is counted
    Affiliated Hosted Locations, all Table 4 locations
    Period
    FY2024: 0.6%
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were not included because they did not operate throughout all of Fiscal Year 2024; two Affliated Hosted Locations were permanently closed in Fiscal Year 2024. Expenses incurred by affiliates managing these locations and owner draws/distributions are excluded.
    Method
    Expense data for affiliate-owned Hosted Locations; some figures are imputed as described in Item 19.

    4 locations

    Revenue, EBITDA and other measures · 4 locations

    Who is counted
    Affiliated Hosted Locations averaging 5 to 6 operating days
    Period
    FY2024: $530,285
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were not included because they did not operate throughout all of Fiscal Year 2024; two Affiliated Hosted Locations were permanently closed in Fiscal Year 2024. The table excludes expenses incurred by affiliates in connection with managing these locations and any draw or distribution to the owner.
    Method
    Average, median and range by average operating days.

    12 locations

    Revenue and other measures · 12 locations

    Who is counted
    Franchised Dedicated Locations that operated throughout FY2024
    Period
    FY2024: $1,108,226
    Excluded
    Table 1 includes 12 of 16 Franchised Dedicated Locations; four units opened in 2024 and were excluded because they did not operate throughout Fiscal Year 2024. No Franchised Dedicated Locations were permanently closed in Fiscal Year 2024.
    Method
    Actual Gross Revenues and expense data for the stated period.

    12 locations

    Revenue and EBITDA · 12 locations

    Who is counted
    Franchised Dedicated Locations operating throughout FY2024 (standard format)
    Period
    FY2024: $932,159
    Excluded
    Table 1 includes 12 of 16 standard Franchised Dedicated Locations; four opened in 2024 and were excluded because they did not operate throughout FY2024. SwimLabs Technology Package units, affiliate-owned dedicated locations, Hosted Locations, and conversions are outside this table. No standard Franchised Dedicated Locations were permanently closed.
    Method
    Actual Gross Revenues and expense data for the stated period.

    4 locations

    Revenue and other measures · 4 locations

    Who is counted
    Franchisees each operating one Franchised Hosted Location during FY2024
    Excluded
    Table 2 includes 53 of 62 Franchised Hosted Locations. It excludes six first opened during FY2024 and three closed for part of FY2024 because they did not operate all year; 19 permanently closed locations and one temporarily closed at year-end were also excluded.
    Method
    Gross Revenues grouped by number of Hosted Locations operated by each franchisee.

    4 locations

    Revenue · 4 locations

    Who is counted
    Four franchisees, each operating one Franchised Hosted Location during FY2024
    Excluded
    Table 2 includes 53 of 62 Hosted Locations; excludes six first opened during FY2024, three closed for part of FY2024, 19 permanently closed during FY2024, and one temporarily closed at year-end.
    Method
    Gross Revenues grouped by number of Hosted Locations operated by each franchisee.

    5 locations

    Revenue and other measures · 5 locations

    Who is counted
    Franchisees operating 4 to 10 Hosted Locations
    Excluded
    Item 19 states the data includes 53 of 62 Hosted Locations; it excludes six locations first opened in 2024 and three that closed for portions of FY2024 because they were not open all year, plus 19 permanently closed locations and one temporarily closed location not open as of December 31, 2024.
    Method
    Gross Revenues grouped by number of Hosted Locations operated by each franchisee.

    11 locations

    Revenue and other measures · 11 locations

    Who is counted
    Affiliated Hosted Locations during FY2024
    Period
    FY2024: $51,069
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were excluded because they did not operate throughout FY2024; two were permanently closed in FY2024. Table 4 excludes expenses incurred by affiliates managing these locations and owner draws/distributions.
    Method
    Expense data for affiliate-owned Hosted Locations; some figures are imputed as described in Item 19.

    23 locations

    Revenue and other measures · 23 locations

    Who is counted
    Franchised Hosted Locations grouped by average operating days per week: 3 to 4 operating days during FY2024
    Excluded
    Table 3 includes 53 of 62 Hosted Locations; it excludes six locations first opened in FY2024 and three that closed for part of FY2024 because they were not open all year, plus 19 permanently closed locations and one temporarily closed at year-end.
    Method
    Gross Revenues grouped by average number of operating days per week.

    16 locations

    Other measures · 16 locations

    Who is counted
    Franchised Hosted Locations grouped by average operating days per week: 5 or more operating days during FY2024
    Excluded
    Table 3 includes 53 of 62 Hosted Locations; it excludes six locations first opened in FY2024 and three that closed for part of FY2024 because they were not open all year, plus 19 permanently closed locations and one temporarily closed at year-end.
    Method
    Gross Revenues grouped by average number of operating days per week.

    4 locations

    Revenue and other measures · 4 locations

    Who is counted
    Affiliated Hosted Locations — 5 to 6 Average Operating Days
    Period
    FY2024: $105,427
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were excluded because they did not operate throughout the full fiscal year; two were permanently closed in Fiscal Year 2024. Table excludes expenses incurred by affiliates managing these locations and owner draws/distributions.
    Method
    Expense data for affiliate-owned Hosted Locations; some figures are imputed as described in Item 19.

    7 locations

    Revenue and other measures · 7 locations

    Who is counted
    Affiliated Hosted Locations — 2 to 4 Average Operating Days
    Period
    FY2024: $114,442
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were excluded because they did not operate throughout the full fiscal year; two were permanently closed in Fiscal Year 2024. Table excludes expenses incurred by affiliates managing these locations and owner draws/distributions.
    Method
    Expense data for affiliate-owned Hosted Locations; some figures are imputed as described in Item 19.

    7 locations

    EBITDA, revenue and other measures · 7 locations

    Who is counted
    Affiliated Hosted Locations averaging 2 to 4 operating days
    Period
    FY2024: $1,273
    Excluded
    Four of 15 Affiliated Hosted Locations opened in 2024 and were not included because they did not operate throughout all of Fiscal Year 2024; two Affliated Hosted Locations were permanently closed in Fiscal Year 2024. Expenses incurred by affiliates managing these locations and owner draws/distributions are excluded.
    Method
    Expense data for affiliate-owned Hosted Locations; some figures are imputed as described in Item 19.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    Systemwide, as labeled in the FDD · counts as of 2024 start and end of each year.

    2025 FDD · Item 20 · PDF p. 76

    Net −4 outlets, 2022–2024

    09420221032023902024+9−13

    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 2024 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 2025 Item 7 estimate ($24,250 – $1,487,700) 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 decreased from 103 to 90 in 2024. What drove the change?

    • 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 (2025 FDD)

    1. [1]Item 19 — Locations counted not stated in the reviewed record — Franchised Dedicated Locations operating throughout FY2024 (standard format, ex… · PDF p. 69
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Franchised Dedicated Locations operating throughout FY2024 · PDF p. 70
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Franchisees operating 2 to 3 Hosted Locations · PDF p. 72
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Franchised Hosted Locations grouped by average operating days per week: 1 to 2… · PDF p. 72
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Franchised Hosted Locations averaging 5 or more operating days per week during… · PDF p. 72
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations, all Table 4 locations · PDF p. 73; PDF p. 74
    7. [7]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations averaging 5 to 6 operating days · PDF p. 74; PDF p. 73
    8. [8]Item 19 — Locations counted not stated in the reviewed record — Franchised Dedicated Locations that operated throughout FY2024 · PDF p. 69
    9. [9]Item 19 — Locations counted not stated in the reviewed record — Franchised Dedicated Locations operating throughout FY2024 (standard format) · PDF p. 70
    10. [10]Item 19 — Locations counted not stated in the reviewed record — Franchisees each operating one Franchised Hosted Location during FY2024 · PDF p. 72
    11. [11]Item 19 — Locations counted not stated in the reviewed record — Four franchisees, each operating one Franchised Hosted Location during FY2024 · PDF p. 72
    12. [12]Item 19 — Locations counted not stated in the reviewed record — Franchisees operating 4 to 10 Hosted Locations · PDF p. 72
    13. [13]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations during FY2024 · PDF p. 73
    14. [14]Item 19 — Locations counted not stated in the reviewed record — Franchised Hosted Locations grouped by average operating days per week: 3 to 4… · PDF p. 72
    15. [15]Item 19 — Locations counted not stated in the reviewed record — Franchised Hosted Locations grouped by average operating days per week: 5 or mo… · PDF p. 72
    16. [16]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations — 5 to 6 Average Operating Days · PDF p. 73
    17. [17]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations — 2 to 4 Average Operating Days · PDF p. 73
    18. [18]Item 19 — Locations counted not stated in the reviewed record — Affiliated Hosted Locations averaging 2 to 4 operating days · PDF p. 73; PDF p. 74
    19. [19]Outlet counts — Item 20, Table 1 · PDF p. 76

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

    Territory & operations

    These are contract disclosures, not confirmation that any territory is currently available.

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025unaudited total assets$6,761,620
    2025unaudited total liabilities$3,956,855
    2025unaudited members’ equity$2,804,765
    2025unaudited total revenue$2,173,307
    2025unaudited net income$641,722
    2024audited total assets$5,905,703
    2024audited total liabilities$3,742,662
    2024audited member’s equity$2,163,041
    2024audited total revenue$8,749,381
    2024audited net income$1,954,190
    2024audited operating cash flow$1,080,072
    2024audited net cash increase$1,067,940

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

    Loading…

    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 6 · PDF p. 29 · 2025 FDD

      Our summary: Replacement trainee Academy Training fee: currently not charged; cap $1,000 per trainee

      “Currently, not charged. ... provided that the fee shall not exceed $1,000 per trainee for the program.”

      Note: The cited quote is not present in the supplied excerpt.

    • Item 6 · PDF p. 29 · 2025 FDD

      Our summary: Satellite Location Fee: 20% of then-current Initial Franchise Fee

      “An amount equal to 20% of our then-current Initial Franchise Fee for a Dedicated Location if the Satellite Location is linked to a Dedicated Location.”

      Note: The cited quote is not present in the supplied excerpt.

    • Item 6 · PDF p. 29 · 2025 FDD

      Our summary: Requested Additional Assistance: currently not charged; cap $1,000 per representative per day

      “Currently, not charged. ... provided that the fee will not exceed $1,000 per representative per day, plus their travel and living expenses.”

      Note: The cited quote is not present in the supplied excerpt.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: average Gross Revenues: $612,000

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: low Gross Revenues: $112,865

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: share meeting or exceeding average Gross Revenues: 33%

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: average Hosted Locations per franchisee: 5.8

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: share meeting or exceeding average Gross Revenues: 40%

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: median Gross Revenues: $564,948

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Payroll - Wet — FY2024: $105,427

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Wet $51,069 19.2% $105,427 $20,008”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Gross Revenue — FY2024: $530,285

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Gross Revenue $265,658 $530,285 $114,442”

      Note: PDF p.73 provides the sample count for all 11 affiliate-owned Hosted Locations but not the location count for the 5-to-6-operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Gross Revenue — FY2024: $114,442

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Gross Revenue $265,658 $530,285 $114,442”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Payroll - Other — FY2024: $27,373

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Other $14,744 5.5% $27,373 $7,527”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Payroll - Other — FY2024: $7,527

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Other $14,744 5.5% $27,373 $7,527”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Rent — FY2024: $95,158

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Rent $46,391 17.5% $95,158 $18,525”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Marketing — FY2024: $4,578

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Marketing $10,626 4.0% $21,211 $4,578”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: high Gross Revenues: $1,752,378

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: number of franchisees: 5

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Supplies — FY2024: $665

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Supplies $1,211 0.5% $2,167 $665”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Merchant/CC Fees — FY2024: $3,653

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Merchant/CC Fees $8,688 3.3% $17,498 $3,653”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Payroll - Dry - Staff — FY2024: $16,961

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Dry - Staff $20,993 7.9% $28,050 $16,961”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Supplies — FY2024: $2,167

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Supplies $1,211 0.5% $2,167 $665”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Marketing — FY2024: $21,211

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Marketing $10,626 4.0% $21,211 $4,578”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Merchant/CC Fees — FY2024: $17,498

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Merchant/CC Fees $8,688 3.3% $17,498 $3,653”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: franchisees meeting or exceeding average Gross Revenues: 2

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: average Gross Revenues: $1,010,901

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Payroll - Wet — FY2024: $20,008

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Wet $51,069 19.2% $105,427 $20,008”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: low Gross Revenues: $258,662

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: franchisees meeting or exceeding average Gross Revenues: 3

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: average Hosted Locations per franchisee: 2.2

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 2 to 3 Hosted Locations: median Gross Revenues: $518,092

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 2 to 3 9 2.2 $612,000 3 of 9 (33%) $518,092 $112,865 $1,752,378”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 2 to 4 Average Operating Days average Rent — FY2024: $18,525

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Rent $46,391 17.5% $95,158 $18,525”

      Note: PDF p.73 identifies the overall sample of 11 affiliated Hosted Locations, but not the count in this operating-days subgroup. The subgroup sample cannot be verified without inference.

    • Item 19 · PDF p. 73 · 2025 FDD

      Our summary: Table 4 5 to 6 Average Operating Days average Payroll - Dry - Staff — FY2024: $28,050

      “The figures in Table 4 present actual Gross Revenues and expenses experienced by 11 Affiliated Hosted Locations during Fiscal Year 2024. Payroll - Dry - Staff $20,993 7.9% $28,050 $16,961”

      Note: PDF p.73 gives the overall sample of 11 affiliated hosted locations but not the sample count for this operating-days subgroup. The subgroup location count cannot be verified without inference.

    • Item 19 · PDF p. 72 · 2025 FDD

      Our summary: Table 2 4 to 10 Hosted Locations: high Gross Revenues: $2,595,645

      “The figures in Table 2 present actual Gross Revenues experienced by 18 franchisees who owned and operated 53 Franchised Hosted Locations during Fiscal Year 2024. 4 to 10 5 5.8 $1,010,901 2 of 5 (40%) $564,948 $258,662 $2,595,645”

      Note: PDF p.72 reports franchisee counts and a range of locations per franchisee for this subgroup, but not its exact whole-location sample count. I cannot verify the required sample context without calculation or inference.

    • Item 20 · PDF p. 76 · 2025 FDD

      Our summary: Franchised 2022: 85 → 94

      “Franchised 2022 85 94 +9”

      Note: The supplied excerpt does not establish a matching Table 1 systemwide start/end row.

    • Item 20 · PDF p. 76 · 2025 FDD

      Our summary: Franchised 2023: 94 → 103

      “Franchised 2023 94 103 +9”

      Note: The supplied excerpt does not establish a matching Table 1 systemwide start/end row.

    • Item 20 · PDF p. 76 · 2025 FDD

      Our summary: Franchised 2024: 103 → 90

      “Franchised 2024 103 90 -13”

      Note: The supplied excerpt does not establish a matching Table 1 systemwide start/end row.

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

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