FULLY PROMOTED

Item 7 outlines initial investment from $134,578 to $354,509, covering build-out for embroidery, printing, and promo product operations, plus $49,500 franchise fee. Ongoing fees hit hard: 6% royalty (minimum $500/month, tiered), 1% ad fund (minimum $650/month), plus $199/month BMS software, $149/month tech, $75-150/month online sourcing, and $100-250/month lead gen—potentially 8-10% of sales in total outflows. Item 19 shines with average gross revenue of $576,721 but median just $361,631 across units, implying top 50% drive the average while half lag far behind; no explicit profits disclosed, but after fees and ops, mid-tier owners might net $50K-$100K if expenses align tightly. SBA stats show 20 loans averaging $245,495 but 15% default rate, double the typical benchmark, suggesting capital strain for some.

System health mixes promise and pressure: 305 total locations grew modestly from 168 in 2024 to 174 in 2025 (+4%), with 26 projected new units signaling controlled expansion after 25 years. Yet 13 terminations and 14 transfers in the latest FDD year point to moderate churn, not crisis but not booming either. This trajectory means stable but unspectacular scaling in a fragmented industry—viable for marketing pros with sales chops, riskier for novices facing wide revenue variance and fee stack-up that could squeeze thin margins.