PickleRage

Item 7 lays out the initial investment at $797,800 to $1,783,200, covering real estate, construction for multi-court setups, FF&E, and opening inventory—think high-end venues in high-demand areas that could run $1M+ for prime spots. The $65,000 franchise fee gets you trademarks, proprietary designs, training, and ops manuals, but ongoing fees bite: 7% royalty on gross sales, 1% ad fund, plus $2,000/month local marketing (or 2% gross sales if higher), and $1,000 annual tech fee ($83/month). No Item 19 means no disclosed earnings, leaving you to model profits from industry comps—pickleball spots often hit $500K-$1M revenue if foot traffic booms, but breakeven could take 2-3 years with those fees eating 10%+.

System stats scream startup mode: just 3 corporate locations since franchising in 2023, projected 3 new units soon, and only 2 SBA loans averaging $567,500 signal banks see potential but volume's low. Zero terminations/transfers so far is clean, yet the Miami Beach HQ targets recreational hotbeds amid municipal rivals. For buyers, this means high-risk/high-reward in a $1B+ pickleball market—nail location and programming for leagues/tourneys, and margins could shine; miss, and fixed costs crush. Data points to aggressive growth bets, but verify unit-level viability yourself.