# Batteries Plus

- Brand slug: batteries-plus
- Legal name: Batteries Plus, L.L.C.
- Industry: Retail Services
- FDD year: 2026 (MN)
- Source: https://www.cards.commerce.state.mn.us/CARDS/
- FranchiseDepth page: https://franchisedepth.com/franchise/batteries-plus/
- Hand-checked against the FDD: yes

## Fees and investment (Items 5-7)
- initial_fee_low_usd: 15,000
- initial_fee_high_usd: 49,500
- royalty_pct: 5
- royalty_min_monthly_usd: not disclosed
- marketing_fee_pct: 1
- marketing_min_monthly_usd: not disclosed
- tech_fee_monthly_usd: 1,098
- total_investment_low_usd: 284,786
- total_investment_high_usd: 536,636
- liquid_capital_usd: 100,000
- net_worth_usd: not disclosed

## Fee notes
Single-unit Initial Franchise Fee is $49,500. Under a Multiple Unit Franchise Agreement, fees are $49,500 for the 1st store, $44,500 for the 2nd, $39,500 for the 3rd, and $34,500 for the 4th and subsequent stores. A $15,000 Multiple Unit Territory Fee per store is credited against future Initial Franchise Fees. A $10,000 discount is available for qualifying veterans, active/retired firefighters, police officers, EMT/paramedics, nurses, and teachers off the first store fee. Existing franchisees in good standing for 36+ months may open one additional store at a discounted Initial Franchise Fee of $15,000 (lowest possible value). All fees are non-refundable. Monthly technology fees total $1,098: Software Support $509, Omni-Channel Maintenance $200, Avalara Avatax $27, Payment Gateway $22, Salesforce.com CRM $80, Managed Security Services (PCI) $200 and RepairQ $60. The Minimum Store Promotion Requirement is a pro rata $20,000 in the first calendar year, then the greater of 4% of prior-year Net Revenues or $20,000 per year; a shortfall must be deposited with the franchisor. $20,000 is paid to the franchisor at store opening and applied to the Digital Marketing Contribution, which will not exceed the greater of 3% of Net Revenues or the Minimum Store Promotion Requirement.

## Outlets, closure rate, growth and all-in fee
- total_outlets: 734
- franchised_outlets: 601
- company_outlets: 133
- states_count: 50
- closure_rate_pct: 4.2
- closures: 77
- closures_not_itemized: 0
- reacquired: 21
- franchised_outlet_years: 1819
- closure_year_from: 2023
- closure_year_to: 2025
- closure_ranking_eligible: yes
- growth_pct: 1.7
- growth_outlets_from: 722
- growth_outlets_to: 734
- growth_year_from: 2023
- growth_year_to: 2025
- growth_ranking_eligible: yes
- all_in_fee_pct: 6
- all_in_basis: royalty + marketing fund

## Comparable revenue
- annual_revenue_usd: 833,660
- basis: median, All Franchised Same Stores (490) - Table A-2 (490 outlets)

## Item 19 figures
| metric | cohort | outlets | avg | median | min | max | period | page |
|---|---|---|---|---|---|---|---|---|
| Merchandise Margin Percentage (Retail and Commercial) | 490 Same Stores (franchised-owned, open at least 308 days, January 1, 2025 through November 2, 2025) | 490 | 51 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 53 |
| Merchandise Margin Percentage - Retail | All Stores (490 franchised-owned), Retail customers | 490 | 60 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |
| Merchandise Margin Percentage - Commercial | All Stores (490 franchised-owned), Commercial customers | 490 | 38 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |
| Percentage of Net Revenue - Retail | All Stores (490 franchised-owned), Retail customers | 490 | 58 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |
| Percentage of Net Revenue - Commercial | All Stores (490 franchised-owned), Commercial customers | 490 | 42 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 54 |
| Average Net Revenue (More than 35% of Total Net Revenue is Commercial Sales) | More than 35% of Total Net Revenue is Commercial Sales (268 Same Stores) | 268 | 1,052,912 | 925,171 | 407,996 | 7,352,102 | September 1, 2024 to August 31, 2025 | 55 |
| Average Net Revenue (Less than or equal to 35% of Total Net Revenue is Commercial Sales) | Less than or equal to 35% of Total Net Revenue is Commercial Sales (222 Same Stores) | 222 | 836,173 | 741,881 | 414,143 | 3,076,869 | September 1, 2024 to August 31, 2025 | 55 |
| Average Net Revenue (More than $1.50 Average Add on Margin per Transaction) | More than $1.50 Average Add on Margin per Transaction (174 Same Stores) | 174 | 1,108,829 | 951,211 | 407,996 | 7,352,102 | September 1, 2024 to August 31, 2025 | 55 |
| Average Net Revenue (Less than or equal to $1.50 Average Add on Margin per Transaction) | Less than or equal to $1.50 Average Add on Margin per Transaction (316 Same Stores) | 316 | 869,857 | 751,166 | 414,143 | 3,566,005 | September 1, 2024 to August 31, 2025 | 55 |
| Average Retail Sales Ticket Amount | 490 Same Stores, Retail customers | 490 | 54.4 | 53.6 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |
| Average Commercial Sales Ticket Amount | 490 Same Stores, Commercial customers | 490 | 297.98 | 250.89 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |
| Average Total Sales Ticket Amount | 490 Same Stores, Retail and Commercial combined | 490 | 82.58 | 76.46 | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 55 |
| Average Net Revenue - Commercial Sales Focused Stores, Top 10% | Top 10% of 282 Franchised Commercial Sales Focused Same Stores | 28 | 2,360,651 | 2,012,819 | 1,684,040 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Top 25% | Top 25% of 282 Franchised Commercial Sales Focused Same Stores | 70 | 1,793,046 | 1,572,375 | 1,229,337 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Top 50% | Top 50% of 282 Franchised Commercial Sales Focused Same Stores | 141 | 1,424,337 | 1,217,407 | 935,549 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Top 75% | Top 75% of 282 Franchised Commercial Sales Focused Same Stores | 211 | 1,216,740 | 1,047,885 | 667,588 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Bottom 10% | Bottom 10% of 282 Franchised Commercial Sales Focused Same Stores | 28 | 486,571 | 485,664 | 407,996 | 554,257 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Bottom 25% | Bottom 25% of 282 Franchised Commercial Sales Focused Same Stores | 70 | 558,604 | 570,483 | 407,996 | 662,011 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Bottom 50% | Bottom 50% of 282 Franchised Commercial Sales Focused Same Stores | 141 | 682,408 | 667,588 | 407,996 | 931,080 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, Bottom 75% | Bottom 75% of 282 Franchised Commercial Sales Focused Same Stores | 211 | 809,141 | 825,484 | 407,996 | 1,217,407 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Commercial Sales Focused Stores, All Stores | All 282 Franchised Commercial Sales Focused Same Stores | 282 | 1,053,373 | 933,315 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 56 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 10% | Top 10% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 20 | 1,657,416 | 1,447,666 | 1,319,452 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 25% | Top 25% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 52 | 1,334,258 | 1,241,737 | 990,415 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 50% | Top 50% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 104 | 1,081,528 | 981,471 | 711,518 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Top 75% | Top 75% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 156 | 931,955 | 816,925 | 572,615 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 10% | Bottom 10% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 20 | 440,952 | 438,916 | 414,143 | 474,660 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 25% | Bottom 25% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 52 | 487,980 | 485,044 | 414,143 | 564,948 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 50% | Bottom 50% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 104 | 560,393 | 568,782 | 414,143 | 710,807 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), Bottom 75% | Bottom 75% of 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 156 | 649,862 | 627,908 | 414,143 | 972,527 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Remaining Franchised Same Stores (Not Commercial Sales Focused), All Stores | All 208 Remaining Franchised Same Stores (Not Commercial Sales Focused) | 208 | 820,961 | 711,163 | 414,143 | 3,076,869 | January 1, 2025 to December 31, 2025 | 57 |
| Average Net Revenue - Corporate Stores, Top Quartile | Top Quartile of 133 Corporate Stores (Table A-1) | 33 | 1,647,392 | 1,463,386 | 1,203,909 | 3,522,307 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Corporate Stores, Second Quartile | Second Quartile of 133 Corporate Stores (Table A-1) | 33 | 1,055,834 | 1,036,367 | 963,944 | 1,190,202 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Corporate Stores, Third Quartile | Third Quartile of 133 Corporate Stores (Table A-1) | 33 | 881,298 | 883,737 | 796,514 | 954,213 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Corporate Stores, Bottom Quartile | Bottom Quartile of 133 Corporate Stores (Table A-1) | 34 | 668,554 | 694,131 | 507,509 | 790,844 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - All Corporate Stores | All Corporate Stores (133) - Table A-1 | 133 | 1,060,302 | 954,213 | 507,509 | 3,522,307 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Franchised Same Stores, Top Quartile | Top Quartile of 490 Franchised Same Stores (Table A-2) | 122 | 1,614,404 | 1,418,220 | 1,125,793 | 7,352,102 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Franchised Same Stores, Second Quartile | Second Quartile of 490 Franchised Same Stores (Table A-2) | 123 | 972,577 | 967,308 | 834,301 | 1,123,571 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Franchised Same Stores, Third Quartile | Third Quartile of 490 Franchised Same Stores (Table A-2) | 123 | 712,840 | 706,111 | 613,718 | 833,020 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Franchised Same Stores, Bottom Quartile | Bottom Quartile of 490 Franchised Same Stores (Table A-2) | 122 | 520,881 | 524,436 | 407,996 | 610,504 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - All Franchised Same Stores (Table A-2) | All Franchised Same Stores (490) - Table A-2 | 490 | 833,660 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 58 |
| Average Net Revenue - Corporate and Franchised Same Stores, Top Quartile | Top Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 155 | 1,622,330 | 1,423,556 | 1,145,971 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate and Franchised Same Stores, Second Quartile | Second Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 997,576 | 995,963 | 875,976 | 1,143,246 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate and Franchised Same Stores, Third Quartile | Third Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 754,022 | 748,294 | 639,505 | 872,724 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate and Franchised Same Stores, Bottom Quartile | Bottom Quartile of 623 Combined Corporate and Franchised Same Stores (Table A-3) | 156 | 539,235 | 554,407 | 407,996 | 637,340 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - All Corporate and Franchised Stores (Table A-3) | All Corporate and Franchised Same Stores (623) - Table A-3 | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate Stores, Top Third | Top Third of 133 Corporate Stores (Table B-1) | 44 | 1,517,987 | 1,296,378 | 1,089,544 | 3,522,307 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate Stores, Middle Third | Middle Third of 133 Corporate Stores (Table B-1) | 44 | 964,630 | 959,079 | 855,823 | 1,086,020 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate Stores, Bottom Third | Bottom Third of 133 Corporate Stores (Table B-1) | 45 | 706,333 | 715,969 | 507,509 | 854,144 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - All Corporate Stores (Table B-1) | All Corporate Stores (133) - Table B-1 | 133 | 1,060,302 | 954,213 | 507,509 | 3,522,307 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Franchised Same Stores, Top Third | Top Third of 490 Franchised Same Stores (Table B-2) | 163 | 1,478,088 | 1,285,722 | 1,014,707 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Franchised Same Stores, Middle Third | Middle Third of 490 Franchised Same Stores (Table B-2) | 164 | 836,133 | 833,660 | 670,374 | 1,014,285 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Franchised Same Stores, Bottom Third | Bottom Third of 490 Franchised Same Stores (Table B-2) | 163 | 550,655 | 561,674 | 407,996 | 669,470 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - All Franchised Same Stores (Table B-2) | All Franchised Same Stores (490) - Table B-2 | 490 | 954,716 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 59 |
| Average Net Revenue - Corporate and Franchised Same Stores, Top Third (Table B-2/B-3) | Top Third of 623 Combined Corporate and Franchised Same Stores (Table B-2 Corporate and Franchised) | 207 | 1,487,888 | 1,287,770 | 1,033,513 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate and Franchised Same Stores, Middle Third | Middle Third of 623 Combined Corporate and Franchised Same Stores | 208 | 872,795 | 874,350 | 710,807 | 1,031,004 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate and Franchised Same Stores, Bottom Third | Bottom Third of 623 Combined Corporate and Franchised Same Stores | 208 | 573,542 | 579,869 | 407,996 | 710,643 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - All Corporate and Franchised Stores (Table B combined) | All Corporate and Franchised Same Stores (623) - Table B combined | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Top 10% (Table C-1) | Top 10% of 133 Corporate Stores (Table C-1) | 13 | 2,130,083 | 1,949,909 | 1,638,069 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Top 25% (Table C-1) | Top 25% of 133 Corporate Stores (Table C-1) | 33 | 1,647,392 | 1,463,386 | 1,203,909 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Top 50% (Table C-1) | Top 50% of 133 Corporate Stores (Table C-1) | 66 | 1,351,613 | 1,197,056 | 963,944 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Top 75% (Table C-1) | Top 75% of 133 Corporate Stores (Table C-1) | 99 | 1,194,842 | 1,036,367 | 796,514 | 3,522,307 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Bottom 10% (Table C-1) | Bottom 10% of 133 Corporate Stores (Table C-1) | 13 | 573,573 | 576,376 | 507,509 | 653,812 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Bottom 25% (Table C-1) | Bottom 25% of 133 Corporate Stores (Table C-1) | 33 | 664,848 | 690,051 | 507,509 | 786,155 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Bottom 50% (Table C-1) | Bottom 50% of 133 Corporate Stores (Table C-1) | 66 | 770,598 | 788,499 | 507,509 | 953,313 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Corporate Stores, Bottom 75% (Table C-1) | Bottom 75% of 133 Corporate Stores (Table C-1) | 99 | 863,293 | 883,632 | 507,509 | 1,180,945 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - All Corporate Stores (Table C-1) | All Corporate Stores (133) - Table C-1 | 133 | 1,044,609 | 938,246 | 473,903 | 3,511,841 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Franchised Stores, Top 10% (Table C-2) | Top 10% of 490 Franchised Same Stores (Table C-2) | 49 | 2,103,785 | 1,886,367 | 1,497,970 | 7,352,102 | January 1, 2025 to December 31, 2025 | 60 |
| Average Net Revenue - Franchised Stores, Top 25% (Table C-2) | Top 25% of 490 Franchised Same Stores (Table C-2) | 122 | 1,614,404 | 1,418,220 | 1,125,793 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Top 50% (Table C-2) | Top 50% of 490 Franchised Same Stores (Table C-2) | 245 | 1,292,180 | 1,123,571 | 834,301 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Top 75% (Table C-2) | Top 75% of 490 Franchised Same Stores (Table C-2) | 368 | 1,098,542 | 966,208 | 613,718 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Bottom 10% (Table C-2) | Bottom 10% of 490 Franchised Same Stores (Table C-2) | 49 | 459,483 | 463,632 | 407,996 | 501,961 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Bottom 25% (Table C-2) | Bottom 25% of 490 Franchised Same Stores (Table C-2) | 122 | 520,881 | 524,436 | 407,996 | 610,504 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Bottom 50% (Table C-2) | Bottom 50% of 490 Franchised Same Stores (Table C-2) | 245 | 617,252 | 524,436 | 407,996 | 833,020 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Franchised Stores, Bottom 75% (Table C-2) | Bottom 75% of 490 Franchised Same Stores (Table C-2) | 368 | 736,016 | 706,172 | 407,996 | 1,123,571 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - All Franchised Stores (Table C-2) | All Franchised Same Stores (490) - Table C-2 | 490 | 954,716 | 833,660 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Top 10% (Table C-3) | Top 10% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 62 | 2,111,304 | 1,923,513 | 1,512,309 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Top 25% (Table C-3) | Top 25% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 155 | 1,622,330 | 1,423,556 | 1,145,971 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Top 50% (Table C-3) | Top 50% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 311 | 1,308,949 | 1,143,246 | 875,976 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Top 75% (Table C-3) | Top 75% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 473 | 1,117,381 | 994,087 | 631,111 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Bottom 10% (Table C-3) | Bottom 10% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 62 | 470,253 | 474,728 | 407,996 | 523,213 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Bottom 25% (Table C-3) | Bottom 25% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 155 | 538,602 | 554,257 | 407,996 | 636,950 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Bottom 50% (Table C-3) | Bottom 50% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 311 | 645,901 | 637,340 | 407,996 | 870,343 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - Corporate and Franchised Stores, Bottom 75% (Table C-3) | Bottom 75% of 623 Combined Corporate and Franchised Same Stores (Table C-3) | 467 | 762,798 | 747,067 | 407,996 | 1,131,156 | January 1, 2025 to December 31, 2025 | 61 |
| Average Net Revenue - All Corporate and Franchised Stores (Table C-3) | All Corporate and Franchised Same Stores (623) - Table C-3 | 623 | 977,257 | 872,724 | 407,996 | 7,352,102 | January 1, 2025 to December 31, 2025 | 61 |
| Net Revenue - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 1,469,998 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| Gross Profit Margin - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 773,612 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| EBITDA - Company-Owned Stores, Top Third by EBITDA | Top Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 252,887 | 211,223 | 211,223 | 769,031 | January 1, 2025 to December 31, 2025 | 62 |
| Net Revenue - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 962,112 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| Gross Profit Margin - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 490,083 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| EBITDA - Company-Owned Stores, Middle Third by EBITDA | Middle Third of Company-Owned Stores by EBITDA (44 stores) | 44 | 100,468 | 102,339 | 56,696 | 128,070 | January 1, 2025 to December 31, 2025 | 62 |
| Net Revenue - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 759,408 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| Gross Profit Margin - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 367,641 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| EBITDA - Company-Owned Stores, Bottom Third by EBITDA | Bottom Third of Company-Owned Stores by EBITDA (45 stores) | 45 | 13,945 | 14,815 | -98,635 | 56,063 | January 1, 2025 to December 31, 2025 | 62 |
| Net Revenue - All Company-Owned Stores by EBITDA | All Company-Owned Stores by EBITDA (133 stores) | 133 | 1,061,550 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| Gross Profit Margin - All Company-Owned Stores | All Company-Owned Stores by EBITDA (133 stores) | 133 | 545,499 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 62 |
| EBITDA - All Company-Owned Stores | All Company-Owned Stores by EBITDA (133 stores) | 133 | 121,618 | 101,618 | -98,635 | 769,031 | January 1, 2025 to December 31, 2025 | 62 |
| Net Revenue - All Corporate Stores (Annual = sum of 2025 monthly averages) | All 133 Corporate Stores - Monthly Detail (Annual Sum) | 133 | 1,061,963 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 63 |
| EBITDA - All Corporate Stores (Annual = sum of 2025 monthly averages) | All 133 Corporate Stores - Monthly Detail (Annual Sum) | 133 | 116,078 | not disclosed | not disclosed | not disclosed | January 1, 2025 to December 31, 2025 | 63 |

## Franchised outlet turnover by year (Item 20 Table 3)
| year | start | opened | terminated | non-renewed | reacquired | ceased | transferred | end |
|---|---|---|---|---|---|---|---|---|
| 2023 | 609 | 30 | 2 | 5 | 4 | 22 | not disclosed | 606 |
| 2024 | 606 | 30 | 2 | 2 | 17 | 11 | not disclosed | 604 |
| 2025 | 604 | 30 | 0 | 1 | 0 | 32 | not disclosed | 601 |

## Revenue relative to cost (revenue is not profit)
- comparable_annual_revenue_usd: 833,660
- investment_midpoint_usd: 410,711
- revenue_to_investment: 2.03
- royalty_pct: 5
- revenue_per_royalty_point_usd: 166,732

## Rank against peers
| metric | value | rank | peers | peer median | order | peer group |
|---|---|---|---|---|---|---|
| inv_low | 284,786 | 58 | 72 | 170,207.5 | lowest first | Specialty Retail |
| fee_low | 15,000 | 11 | 71 | 29,500 | lowest first | Specialty Retail |
| royalty | 5 | 16 | 61 | 5 | lowest first | Specialty Retail |
| allin | 6 | 18 | 61 | 7 | lowest first | Specialty Retail |
| outlets | 734 | 3 | 70 | 44 | highest first | Specialty Retail |
| growth | 1.7 | 18 | 44 | -2.95 | highest first | Specialty Retail |
| closure | 4.2 | 15 | 40 | 5 | lowest first | Specialty Retail |

## Similar alternatives (closest first)
1. HobbyTown (same sub-category; investment from $281,100)
2. Del's Popcorn Shop (same sub-category; investment from $279,365)
3. Clothes Mentor (same sub-category; investment from $272,000)
4. WineStyles Tasting Station (same sub-category; investment from $298,000)
5. Jamin Leather (same sub-category; investment from $270,400)
6. Good Feet (same sub-category; investment from $255,478)
7. Carré d'artistes (same sub-category; investment from $251,300)
8. B-Land Beauty (same sub-category; investment from $318,761)
9. Scout & Molly's (same sub-category; investment from $319,000)
10. Jayasri Sweets (same sub-category; investment from $243,000)