Archive

Every franchise we've decoded. One filing at a time.

Chicken Salad Chick

Aug 25, 2026

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6 min read

Chicken Salad Chick: The Franchise That Shows You Its Whole P&L

The one filing in the category that shows its full P&L, with zero litigation and the lightest fee load of the three. The rare document that answers the question instead of dodging it. Part 4 of 4.

Dan Lorenz

Franchise

Church's Texas Chicken: New Private Money, an 885-Store System, and a $1.1M Question

Aug 18, 2026

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6 min read

Church's Texas Chicken: New Private Money, an 885-Store System, and a $1.1M Question

A forty-year-old value brand with fresh capital behind it, a ten-cents-off-the-top fee stack, and an average store that sells $1,115,007. More than half of them sell less. Part 3 of 4.

Dan Lorenz

Dave's Hot Chicken

Aug 11, 2026

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5 min read

Dave's Hot Chicken: The Loudest Numbers in Franchising, and the One It Doesn't Print

An $823,800 to $4.1 million build, eleven cents of every dollar off the top, and 358 units in five years. On what a store actually earns, the filing is silent. Part 2 of 4.

Dan Lorenz

Franchise

The Three Hottest Chicken Brands of 2026. Only One Shows You the Money.

Aug 4, 2026

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6 min read

The Three Hottest Chicken Brands of 2026. Only One Shows You the Money.

All three just filed their latest numbers. One prints a full P&L, one prints a single figure, one prints nothing at all, and you'll still probably buy it. Part 1 of 4.

Dan Lorenz

Franchise

The Boutique HIIT Inversion: Six Flinches, and Which Ones Were Right

Jul 28, 2026

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8 min read

The Boutique HIIT Inversion: Six Flinches, and Which Ones Were Right

The shrinking maps, the fixed fees, the six-figure loss, the missing territory. Every number that made you flinch this month, run backward. Pro deep-dive.

Dan Lorenz

Franchise

F45: When Things Get Tight, Whose Side Is the Math On?

Jul 21, 2026

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7 min read

F45: When Things Get Tight, Whose Side Is the Math On?

The fees don't fall when sales do. The franchisor terminated 54 agreements last year, and the filing runs nine lawsuits deep. Part 4 of 4.

Dan Lorenz

Franchise

Jul 14, 2026

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6 min read

Same Brand, Same Year: One Studio Keeps 31%, the Next Loses Six Figures

It's the only brand in the series that shows you why: a full profit-and-loss that lays out how the winners win and why the losers lose, so you can tell which one you'd be before you sign. Part 3 of 4.

Dan Lorenz

Franchise

Jul 7, 2026

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6 min read

The Best Sales in Boutique Fitness Belong to a Shrinking Brand

$802,145 a studio on average, a $2.87M ceiling, 95 closed last year. The name carries you to the front desk. It doesn't fill the room. Part 2 of 4.

Dan Lorenz

Franchise

Boutique Fitness: Why One Studio Rings Up $1.2M and the Next Goes Dark

Jun 30, 2026

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6 min read

Boutique Fitness: Why One Studio Rings Up $1.2M and the Next Goes Dark

The franchise is identical. The outcomes are not. The reason isn't the brand, and it isn't luck. It's sitting in a filing most investors never finish. Part 1 of 4.

Dan Lorenz

Archive

Every franchise we've decoded. One filing at a time.

Chicken Salad Chick: The Franchise That Shows You Its Whole P&L

Church's Texas Chicken: New Private Money, an 885-Store System, and a $1.1M Question

Dave's Hot Chicken: The Loudest Numbers in Franchising, and the One It Doesn't Print

The Three Hottest Chicken Brands of 2026. Only One Shows You the Money.

The Boutique HIIT Inversion: Six Flinches, and Which Ones Were Right

F45: When Things Get Tight, Whose Side Is the Math On?

Same Brand, Same Year: One Studio Keeps 31%, the Next Loses Six Figures

The Best Sales in Boutique Fitness Belong to a Shrinking Brand

Boutique Fitness: Why One Studio Rings Up $1.2M and the Next Goes Dark

The Zorzee Report