Cruisin' Tikis

Cruisin' Tikis entered franchising in 2018, growing from 95 locations in 2022 to 106 in 2023—a solid 12% bump—while projecting just 5 new units ahead. Item 7 pegs initial investment at $83,015-$123,650, including a $20,000 franchise fee, with vessels bought from an affiliate. Ongoing fees hit 6% royalties plus 2% brand fund and $25-$100 monthly tech charges; operations skew seasonal in freeze-prone areas, demanding strong summer performance. No Item 19 means no disclosed earnings, a notable gap forcing reliance on averages like 5 SBA loans at $689,600 each—suggesting franchisees borrow big to launch multiple boats.

System health shows stability with only 2 transfers, but the lack of revenue transparency is a red flag for investors eyeing recreational niches. That high average SBA loan implies serious capital for fleet expansion in tourist-heavy markets, yet modest projected growth tempers explosive potential. For waterways with year-round appeal like Florida headquarters, this could yield lifestyle income; elsewhere, winter downtime risks cash flow strains without proven AUVs to benchmark.