BENJAMIN FRANKLIN PLUMBING

Item 7 lays out the startup: franchise fee $43,000 gets you into a $84,570-$204,824 total investment, covering trucks, tools, initial marketing, and six weeks of training at headquarters plus ongoing support. Ongoing fees bite at 6% royalty (minimum $1,500/month, whichever greater), tiered brand fund starting at 1.5% on first $5M revenue, and $100/month tech fee—potentially 7.5%+ total on lower earners. Item 19 shines: average gross sales $2,881,095, median $1,642,093 across existing units, meaning top performers crush it while half land above $1.6M before expenses.

System health looks solid at 353 franchise locations (plus 10 corporate), up 8% from 654 to 707 total units last year, with 41 projected new openings and just 13 terminations/non-renewals amid 15 transfers. SBA data backs viability: 46 loans averaging $355,861. Litigation centers on post-term enforcement like non-competes, not systemic red flags. For hands-on types eyeing $1M+ medians in plumbing's recession-resistant demand, this scales well if you nail dispatch and upsells—but watch that royalty floor on ramp-up.