Port of Subs (RD)

The track record is embryonic: Port of Subs RD began franchising in 2023, with only 2 locations active per the 2025 FDD, and 9 projected new units signaling modest ambitions. No Item 19 disclosure means no official earnings data from franchisees, a red flag for transparency in a food sector where averages matter—without it, you're blind to typical RD performance. Fees stand out favorably: $125,000 franchise fee, total investment $169,750-$578,400 covering territory rights and setup, no ongoing royalties or ad fund, just a $250/month technology fee. The RD earns 35-50% splits on recruited franchisees' initial fees/development and royalties, potentially lucrative if you hit development schedules.

System health data raises eyebrows amid the growth trajectory. Just 2 units after two years implies slow adoption, possibly due to the niche RD model demanding recruitment prowess over operations. However, 15 SBA loans on record averaging $380,527 indicate banks see viability, likely tied to parent Port of Subs' established shops. For investors eyeing passive-ish income via sub-franchising, the no-royalty structure lowers barriers, but scaling unproven territories without revenue benchmarks demands strong sales skills. Trajectory points to cautious expansion; weigh if you can outpace the system's crawl.