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

Boutique Pilates

+7

The Boutique Pilates Inversion: Six Flinches, and the Green Flag Inside Each One

Oct 6, 2026

•

8 min read

The Boutique Pilates Inversion: Six Flinches, and the Green Flag Inside Each One

Six numbers from the boutique Pilates series, each run through the same test: not how the deal works, but how it fails, and whether the thing that scared you is what keeps it from failing. The Pro deep-dive that closes the series.

Pilates

+6

The Team That Scaled Pilates Past 1,179 Studios Left and Started This

Sep 29, 2026

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6 min read

The Team That Scaled Pilates Past 1,179 Studios Left and Started This

Pilates Addiction is young and makes no financial performance representation, which is legal and ordinary for a system this new. What it offers instead is the team that built the category, and the litigation that team carries. Go in with both. Closing the series. Part 4 of 4.

Pilates

+4

Most Franchises Show You Sales. JETSET Shows You What the Owner Keeps.

Sep 22, 2026

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7 min read

Most Franchises Show You Sales. JETSET Shows You What the Owner Keeps.

Almost no franchise filing is this open. So the question flips: not what are they hiding, but whether a number this good can hold. Part 3 of 4.

Pilates

+4

Club Pilates Has the Best Numbers in Boutique Pilates. Here's How to Read Them.

Sep 15, 2026

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7 min read

Club Pilates Has the Best Numbers in Boutique Pilates. Here's How to Read Them.

Club Pilates discloses more than anyone in boutique Pilates, down to its own weakest studio. Here's what that proves, what the fees and the ten-year term really cost, and the one disclosure point worth verifying before you sign. Part 2 of 4.

Pilates

+4

Every Other Boutique Workout Is Shrinking. Pilates Is Booming. That Still Won't Save the Wrong Studio.

Sep 8, 2026

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7 min read

Every Other Boutique Workout Is Shrinking. Pilates Is Booming. That Still Won't Save the Wrong Studio.

The category is real, and it is the trap. The 2026 filings show why the tailwind that lifts the whole category never reaches most of the owners inside it, and what actually decides which studios get paid. Part 1 of 4.

Dave's Hot Chicken

+5

The Chicken QSR Inversion: Six Flinches, and the Green Flag Inside Each One

Sep 1, 2026

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10 min read

The Chicken QSR Inversion: Six Flinches, and the Green Flag Inside Each One

Six numbers from four filings that made you flinch, and the green flag hiding inside each one. Where the obvious read breaks, who wins anyway, and the one pattern under all of it. The Pro deep-dive that closes the series.

Dan Lorenz
Dan Lorenz

Chicken Salad Chick

+3

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

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
Dan Lorenz

Franchise

+3

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
Dan Lorenz

Dave's Hot Chicken

+3

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

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
Dan Lorenz
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