JASON'S DELI

Item 7 lays out the steep entry: total investment spans $1,719,656 to $2,529,256, covering buildout, equipment, and initial inventory for these 5,000 sq ft spots. Upfront franchise fee hits $35,000 (Item 5), followed by 4% royalty on sales with a $2,500 monthly minimum, zero ad fund contribution, and fixed fees of $1,747-$2,347 monthly for software, tech, and insurance (Item 6). Without Item 19, you're blind on average revenues or profits—critical in a competitive field against Panera or Sweetgreen—leaving validation reliant on FDD Item 20 contacts or third-party data.

System metrics paint a maturing but stagnant picture: 73 franchised locations versus 163 corporate-owned (Item 1), with total units dipping from 78 to 74 (-5% growth in 2024). Projected openings? Just 1 new unit. Terminations and transfers remain low, but the franchise contraction suggests saturation or operational hurdles. SBA data shows only 5 loans averaging $655,280, far below investment scale, implying self-funded franchisees or lender hesitance. For investors eyeing stability over hyper-growth, this could suit experienced operators with $1M+ liquidity—but the opacity and shrinkage demand deep diligence.