Franchise opportunities compared
Southern Steer vs Spice Tea Exchange
Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.
Before you compare
- Both sets of figures come from 2026 FDDs.
- Item 19 figures cover the location groups each FDD names (Southern Steer: 8, Spice Tea Exchange: 1). Different groups are not directly comparable.
| Disclosure |  Southern Steer |  Spice Tea Exchange |
|---|---|---|
| Financial commitment | ||
| Estimated initial investment (Item 7) | $376,223 ,000 $50,000 As Incurred As Incurred Landlord, Suppliers and Utilities Total ( 1 8 ) — 376223 2026 FDD · Item 7 · PDF p. 17 | $312,900 Total initial investment excluding real-estate/building purchase 2026 FDD · Item 7 · PDF p. 19 |
| Standard initial franchise fee (Item 5) | $59,500 2026 FDD · Item 5 · PDF p. 10 | Not available No single standard fee identified |
| Royalty (Item 6) | 1 3 ) — 250 on to the Royalty Fee and Brand Fund Contribution, if any. Liquidated Damages 2026 FDD · Item 6 · PDF p. 14 | 7% Royalty — gross sales monthly or minimum 2026 FDD · Item 6 · PDF p. 12 |
| Brand / advertising fund (Item 6) | 2% of 3) — 2% on each individual Southern Steer Business You operate . Brand Fund Contribution 2026 FDD · Item 6 · PDF p. 11 | Not available No reviewed brand or advertising fund fee |
| System scale & health | ||
| Total outlets (Item 20) | 18 Outlets at end of 2025 2026 FDD · Item 20 · PDF p. 57 | 196 Outlets at end of 2025 2026 FDD · Item 20 · PDF p. 59 |
| Net outlet change (Item 20) | +10 Calculated: 8 at end of 2023 → 18 at end of 2025 | +16 Calculated: 180 at end of 2023 → 196 at end of 2025 |
| Outlet exits (Item 20) | Not available No complete exit records for a year | Not available No complete exit records for a year |
| Franchising since (Item 1) | Not available Not in reviewed records | Not available Not in reviewed records |
| Franchisor founded (Item 1) | Not available Not in reviewed records | Not available Not in reviewed records |
| Performance (Item 19) | ||
| Financial performance (Item 19), by location group | Locations counted not stated in the reviewed record — St. Petersburg 0.7 percent other St. Petersburg · 2026 FDD · Item 19 · PDF p. 53 Locations counted not stated in the reviewed record — Clearwater Florida 44 percent other Clearwater · 2026 FDD · Item 19 · PDF p. 50 Locations counted not stated in the reviewed record — Ocoee $13,452 other Ocoee · 2026 FDD · Item 19 · PDF p. 53 +5 more groups in the full report | Locations counted not stated in the reviewed record 8.7 percent other company · 2026 FDD · Item 19 · PDF p. 56 |
Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.
Southern Steer vs Spice Tea Exchange: common questions
- Which costs less to open, Southern Steer or Spice Tea Exchange?
- Southern Steer: $376,223 (2026 FDD · Item 7 · PDF p. 17); Spice Tea Exchange: $312,900 (2026 FDD · Item 7 · PDF p. 19). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Spice Tea Exchange. Estimates are not quotes, and the FDD years may differ.
- How do Southern Steer and Spice Tea Exchange royalties compare?
- Southern Steer: 1 3 ) — 250 (2026 FDD · Item 6 · PDF p. 14); Spice Tea Exchange: 7% (2026 FDD · Item 6 · PDF p. 12). Royalties as disclosed in Item 6; other recurring fees are listed separately.
- Which has more locations, Southern Steer or Spice Tea Exchange?
- Southern Steer: 18 (2026 FDD · Item 20 · PDF p. 57); Spice Tea Exchange: 196 (2026 FDD · Item 20 · PDF p. 59). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
- Do Southern Steer and Spice Tea Exchange disclose financial performance (Item 19)?
- Southern Steer has reviewed Item 19 figures for 8 location groups; Spice Tea Exchange has reviewed Item 19 figures for 1 location group. Different location groups are not directly comparable, and revenue is not profit.
Answers restate the reviewed figures above. Not a ranking or recommendation.