Quick N Split Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$130,600 - $260,500
Franchise Fee
$35,000
Business Summary
Quick N Split operates a restaurant serving a variety of food items including burgers, tacos, burritos, loaded fries, and ice cream.
Corporate History
Quick N Split Franchise LLC was formed in Texas on October 26, 2022. The company began offering franchises in 2023. Prior to the franchisor's formation, its principals and other individuals operated several Quick N Split affiliate locations in California from 1973 to 2020. Quick N Split also has an affiliate, Quick 'N Split Since 1973 LLC, formed in May 2019, which distributes licensed merchandise, seasonings, and ice cream to restaurant locations. The franchisor also had a license agreement with We Cupcake, LLC from July 2022 until June 2027 to sell Quick 'N Split products, but no longer offers such license agreements.
Financial Overview
Investment Range
$130,600 - $260,500
Franchise Fee (Low)
$35,000
Franchise Fee (High)
$35,000
Royalty %
6%
Marketing %
2%
Equipment Costs (Low)
$25,000
Equipment Costs (High)
$85,000
Working Capital
$37,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Going concern qualification
Financial Health Notes
The franchisor's financial condition, as shown in its financial statements in Item 21, raises questions about Quick N Split's ability to provide services and support to its franchisees.
Financing Details
Quick N Split does not offer any direct or indirect financing to its franchisees and does not guarantee any franchisee's notes, leases, or other financial obligations.
Performance Metrics
Total US Locations
0
Franchised Units
0
Corporate Units
0
Franchising Since
2023
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Quick N Split has no litigation to report in Item 3 of its Franchise Disclosure Document. The company states there is no litigation required to be disclosed in this item.
Bankruptcy History
Quick N Split has no bankruptcy history to report. The company states there is no bankruptcy information required to be disclosed in Item 4 of its Franchise Disclosure Document.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, Quick N Split franchisees must have fully complied with all provisions of the agreement, made necessary capital expenditures to maintain uniformity with the System, satisfied all monetary obligations owed to Quick N Split or its affiliates, and not be in default of any agreement. Franchisees must also provide timely written notice of their intent to renew, sign Quick N Split's then-current franchise agreement (which may have different terms), comply with current qualifications and training requirements, sign a general release (subject to state law), and pay a $10,000 renewal fee.
Training & Support Program
Franchisor Assistance
Before opening, Quick N Split provides initial training, opening assistance and guidance, a loan of or access to an electronic Operations Manual, assistance with establishing product and service prices, and help with obtaining equipment, signs, fixtures, initial inventory, and supplies. They also offer limited assistance with conforming premises to local codes and obtaining permits, and guidance on employee hiring. After opening, Quick N Split offers advice, discusses problems, provides general guidance via phone/electronic correspondence, makes ongoing training available, and provides modifications to the Operations Manual.
Initial Training Hours
147
Training Location
Licensee location in Inglewood, CA or another franchisor training center
Ongoing Support
Quick N Split provides ongoing training as deemed necessary, offers advice, discusses problems, and gives general guidance by telephone and/or electronic correspondence regarding planning and operating the franchised business. The franchisor also provides franchisees with modifications to the Operations Manual as they become available. Franchisees may be required to attend ongoing training programs, seminars, or webinars up to two sessions per calendar year at their own expense ($250 per person per day, plus travel and lodging if training is at the franchisee's location).
Franchise Requirements
Ideal Candidate Profile
Quick N Split does not specify an ideal candidate profile in Item 1 of its Franchise Disclosure Document, beyond stating that they base qualifications for area developers on financial resources, industry experience, business experience, and marketing and sales plans.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Retail
Owner Participation
Full-Time
Territory Type
Exclusive
Territory Size Requirements
Quick N Split defines territories as a specific geographic region by radius, zip codes, or natural/political boundaries, as outlined in the Franchise Agreement. A territory will normally include a radius of 26,000 feet, subject to negotiation.
Staffing Notes
Quick N Split does not provide specific staffing notes, such as typical employee counts or specific roles, in Item 11 of the FDD. The franchisor states it provides assistance in the type and number of employees that should be hired, but the franchisee is solely responsible for hiring, firing, compensating, and day-to-day supervision of their employees.