Original data analysis · Published October 16, 2026
49 of 78 SBA 7(a) loans recorded under Experimac/Experimax were charged off in our historical comparison—62.8%. Window Genie followed at 26 of 58 loans, or 44.8%. Across the comparison, the differences are large enough to deserve a closer look before buying a franchise.
This scorecard follows loans approved in fiscal 2015–2019 through June 30, 2026. It covers 105 brands with at least 50 disbursed loans each. A charge-off is a recorded loan outcome; it does not establish that a location closed, that the brand caused the loss, or that today’s borrower will have the same outcome.
Highest observed charge-off shares
Read the numerator and denominator together. A 30% share based on 60 loans describes a different amount of evidence from 30% based on 600. The figures below refer to loan records, not unique owners or franchise locations.
| Recorded brand | Loans | Charged off | Share | Gross balance charged off |
|---|---|---|---|---|
| Experimac / Experimax | 78 | 49 | 62.8% | $5,909,938 |
| Window Genie | 58 | 26 | 44.8% | $3,040,749 |
| DICKEY'S BARBECUE PIT | 135 | 48 | 35.6% | $11,465,999 |
| TUTOR DOCTOR | 58 | 19 | 32.8% | $1,862,246 |
| FANTASTIC SAMS | 83 | 27 | 32.5% | $4,361,755 |
| SIGNARAMA | 78 | 23 | 29.5% | $6,424,750 |
| Mr. Appliance | 59 | 17 | 28.8% | $2,006,345 |
| ILOVEKICKBOXING.COM | 105 | 29 | 27.6% | $5,081,301 |
| Burgerim | 97 | 25 | 25.8% | $6,483,885 |
| The Grounds Guys | 70 | 18 | 25.7% | $2,045,904 |
| WHICH WICH | 105 | 25 | 23.8% | $5,653,600 |
| Floor Coverings International | 62 | 14 | 22.6% | $1,635,857 |
| ZOUP! | 51 | 11 | 21.6% | $2,228,978 |
| MEINEKE | 65 | 14 | 21.5% | $2,874,868 |
| 9ROUND | 53 | 11 | 20.8% | $1,022,956 |
Does the loan year change the picture?
Fiscal 2015 loans have roughly four more years of observation than fiscal 2019 loans. Here are the approval-year counts for the six brands at the top of the table. Each cell shows charged-off loans divided by eligible loans; a dash means that brand has no eligible loans in that fiscal year.
| Brand | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 |
|---|---|---|---|---|---|
| Experimac / Experimax | — | 19 / 31 | 20 / 29 | 7 / 14 | 3 / 4 |
| Window Genie | 4 / 10 | 5 / 11 | 3 / 7 | 6 / 13 | 8 / 17 |
| DICKEY'S BARBECUE PIT | 9 / 26 | 9 / 35 | 14 / 39 | 11 / 19 | 5 / 16 |
| TUTOR DOCTOR | 1 / 5 | 4 / 11 | 5 / 18 | 7 / 12 | 2 / 12 |
| FANTASTIC SAMS | 1 / 8 | 4 / 19 | 14 / 26 | 6 / 20 | 2 / 10 |
| SIGNARAMA | 5 / 15 | 2 / 12 | 5 / 18 | 8 / 25 | 3 / 8 |
The five-year window makes exposure more comparable than mixing recent loans with decades-old loans, but it does not fully age-standardize the results. Loan size, term, lender, borrower, geography and economic conditions also differ. This is a descriptive screen for due diligence, not a causal ranking or a forecast.
Search all 105 brands in the comparison
The table includes paid-in-full and EXEMPT statuses so the denominator stays visible. In this SBA file, EXEMPT means a disbursed loan that is not classified as cancelled, paid in full or charged off; its detailed status is exempt from disclosure. We do not label every EXEMPT loan healthy or still paying.
| Brand | SBA codes | Loans | Charge-offs | Share | Paid in full | EXEMPT |
|---|---|---|---|---|---|---|
| Experimac / Experimax | 15975, S0590 | 78 | 49 | 62.8% | 22 | 7 |
| Window Genie | 14305, S1931 | 58 | 26 | 44.8% | 18 | 14 |
| DICKEY'S BARBECUE PIT | 11100, S0505 | 135 | 48 | 35.6% | 73 | 14 |
| TUTOR DOCTOR | 14059, S1820 | 58 | 19 | 32.8% | 32 | 7 |
| FANTASTIC SAMS | 11358, S0624 | 83 | 27 | 32.5% | 43 | 13 |
| SIGNARAMA | 13441, S1570 | 78 | 23 | 29.5% | 38 | 17 |
| Mr. Appliance | 12434, S1137 | 59 | 17 | 28.8% | 20 | 22 |
| ILOVEKICKBOXING.COM | 14953, S2014 | 105 | 29 | 27.6% | 66 | 10 |
| Burgerim | 15102, S0277, S5229 | 97 | 25 | 25.8% | 40 | 32 |
| The Grounds Guys | 13860, S1758 | 70 | 18 | 25.7% | 30 | 22 |
| WHICH WICH | 14273, S1917 | 105 | 25 | 23.8% | 68 | 12 |
| Floor Coverings International | 11443, S0659 | 62 | 14 | 22.6% | 35 | 13 |
| ZOUP! | 14429, S1997 | 51 | 11 | 21.6% | 36 | 4 |
| MEINEKE | 12333 | 65 | 14 | 21.5% | 44 | 7 |
| 9ROUND | 10036 | 53 | 11 | 20.8% | 37 | 5 |
| EDIBLE ARRANGEMENTS | 11233, S0568 | 114 | 21 | 18.4% | 74 | 19 |
| TITLE BOXING CLUB | 13953, S1802 | 58 | 9 | 15.5% | 41 | 8 |
| Code Ninjas | S2075, S2157 | 78 | 12 | 15.4% | 51 | 15 |
| SKYZONE | 13487, S1580 | 73 | 11 | 15.1% | 58 | 4 |
| F45 Training | 16381, S0596 | 96 | 14 | 14.6% | 58 | 24 |
| ANYTIME FITNESS | 10245, S0122 | 447 | 65 | 14.5% | 302 | 80 |
| MENCHIE'S | 12338, S1103 | 127 | 18 | 14.2% | 96 | 13 |
| ALPHAGRAPHICS | 10156, S0094 | 50 | 7 | 14.0% | 28 | 15 |
| RITA'S ICE-CUSTARD-HAPPINESS | 13198, S1435 | 64 | 8 | 12.5% | 47 | 9 |
| The Lash Lounge | 13875, S1766 | 58 | 7 | 12.1% | 27 | 24 |
| AMAZING LASH STUDIO | 14982, S0101 | 139 | 16 | 11.5% | 97 | 26 |
| PAPA MURPHY'S | 12713 | 89 | 10 | 11.2% | 72 | 7 |
| LIBERTY TAX SERVICE | 12175, S1005 | 69 | 7 | 10.1% | 51 | 11 |
| MASSAGE ENVY | 12295, S1083 | 201 | 20 | 10.0% | 156 | 25 |
| MINUTEMAN PRESS | 12375, S1117 | 51 | 5 | 9.8% | 34 | 12 |
| PAPA JOHN'S PIZZA | 12712 | 51 | 5 | 9.8% | 43 | 3 |
| SNAP FITNESS | 13513, S1592 | 82 | 8 | 9.8% | 64 | 10 |
| FASTSIGNS | 11376, S0602 | 117 | 10 | 8.5% | 85 | 22 |
| SUBWAY | 13680, S1639 | 562 | 47 | 8.4% | 433 | 82 |
| CycleBar | 16139, S0452 | 84 | 7 | 8.3% | 65 | 12 |
| LITTLE CAESAR PIZZA | 12200 | 138 | 11 | 8.0% | 124 | 3 |
| JIMMY JOHN'S | 11965, S0906 | 331 | 26 | 7.9% | 249 | 56 |
| SPORT CLIPS | 13593, S2521 | 288 | 21 | 7.3% | 242 | 25 |
| BASKIN-ROBBINS | 10398, S0195 | 55 | 4 | 7.3% | 40 | 11 |
| FIREHOUSE SUBS | 11398, S0639 | 223 | 16 | 7.2% | 168 | 39 |
| THE LEARNING EXPERIENCE | 13877, S1767 | 98 | 7 | 7.1% | 71 | 20 |
| FEDEX GROUND | 11383 | 169 | 12 | 7.1% | 144 | 13 |
| PET SUPPLIES PLUS | 12814, S1293 | 58 | 4 | 6.9% | 39 | 15 |
| ACE HARDWARE | 10077, S0067 | 169 | 11 | 6.5% | 124 | 34 |
| ALLSTATE INSURANCE | 10150 | 93 | 6 | 6.5% | 82 | 5 |
| MARCO'S PIZZA | 12278, S1079 | 210 | 11 | 5.2% | 153 | 46 |
| BUDGET BLINDS | 10611, S0266 | 98 | 5 | 5.1% | 75 | 18 |
| Urban Air Adventure Park | S1850 | 63 | 3 | 4.8% | 44 | 16 |
| Right at Home | 13192, S1431 | 65 | 3 | 4.6% | 52 | 10 |
| GOLDEN CORRAL | 11601, S0729 | 50 | 2 | 4.0% | 34 | 14 |
| PURE BARRE | 13046, S2756 | 77 | 3 | 3.9% | 57 | 17 |
| SUPERCUTS | 13709, S1648 | 190 | 7 | 3.7% | 161 | 22 |
| Comfort Inn | S0410 | 55 | 2 | 3.6% | 34 | 19 |
| Dogtopia | 11141, S0512 | 57 | 2 | 3.5% | 41 | 14 |
| SMOOTHIE KING | 13510, S1591 | 175 | 6 | 3.4% | 137 | 32 |
| Jersey Mike’s Subs; Jersey Mike’s | S0901 | 59 | 2 | 3.4% | 45 | 12 |
| Days Inn / Days Inn by Wyndham | S0488 | 96 | 3 | 3.1% | 57 | 36 |
| Quality Inn | S1373 | 135 | 4 | 3.0% | 82 | 49 |
| KIDDIE ACADEMY | 12059, S0943 | 149 | 4 | 2.7% | 111 | 34 |
| BEST WESTERN INN | 10465 | 112 | 3 | 2.7% | 86 | 23 |
| MOTEL 6 | 12424, S1133 | 158 | 4 | 2.5% | 105 | 49 |
| EUROPEAN WAX CENTER | 11299, S0585 | 240 | 6 | 2.5% | 201 | 33 |
| Super 8 by Wyndhan / Super 8 | S1645 | 80 | 2 | 2.5% | 49 | 29 |
| Tropical Smoothie Cafe | S1815 | 86 | 2 | 2.3% | 61 | 23 |
| GREAT CLIPS | 11644, S0743 | 130 | 3 | 2.3% | 118 | 9 |
| HOME INSTEAD SENIOR CARE | 11785 | 88 | 2 | 2.3% | 82 | 4 |
| DOMINO'S PIZZA | 11150, S0513 | 134 | 3 | 2.2% | 113 | 18 |
| JERSEY MIKE'S | 11958 | 93 | 2 | 2.2% | 84 | 7 |
| TROPICAL SMOOTHIE | 14030 | 99 | 2 | 2.0% | 90 | 7 |
| HOLIDAY INN | 11775 | 52 | 1 | 1.9% | 40 | 11 |
| ONCE UPON A CHILD | 12618, S1218 | 59 | 1 | 1.7% | 51 | 7 |
| ORANGE THEORY FITNESS | 12645, S1224 | 307 | 5 | 1.6% | 268 | 34 |
| HAND AND STONE | 11706 | 64 | 1 | 1.6% | 59 | 4 |
| CAMP BOW WOW | 10686, S0338 | 65 | 1 | 1.5% | 35 | 29 |
| COMFORT/ COMFORT INN & SUITES/ COMFORT SUITES | 10922 | 132 | 2 | 1.5% | 101 | 29 |
| BAYMONT INN & SUITES | 10406 | 67 | 1 | 1.5% | 52 | 14 |
| ECONO LODGE | 11228, S0566 | 144 | 2 | 1.4% | 106 | 36 |
| QUALITY INN/QUALITY SUITES, HOTEL OR RESORT | 13058 | 218 | 3 | 1.4% | 172 | 43 |
| SERVPRO | 13390, S1555 | 153 | 2 | 1.3% | 144 | 7 |
| SHELL SERVICE STATION | 13412 | 80 | 1 | 1.2% | 53 | 26 |
| DAYS INN | 11064 | 171 | 2 | 1.2% | 128 | 41 |
| CHEVRON (GAS STATION) | 10804 | 90 | 1 | 1.1% | 67 | 22 |
| THE GODDARD SCHOOL | 13853, S1753 | 211 | 2 | 0.9% | 125 | 84 |
| RED ROOF INN | 13136, S1414 | 145 | 1 | 0.7% | 103 | 41 |
| SUPER 8 | 13699 | 157 | 1 | 0.6% | 114 | 42 |
| THE UPS STORE | 13913, S1788 | 338 | 2 | 0.6% | 264 | 72 |
| AMERIPRISE FINANCIAL | 10209, S0113 | 248 | 1 | 0.4% | 225 | 22 |
| Club Pilates | 15113, S0395 | 172 | 0 | 0.0% | 151 | 21 |
| PRIMROSE SCHOOLS | 12999, S1353 | 156 | 0 | 0.0% | 112 | 44 |
| NOTHING BUNDT CAKES | 12565, S1195 | 107 | 0 | 0.0% | 92 | 15 |
| CHRISTIAN BROTHERS AUTOMOTIVE | 10839, S0375 | 102 | 0 | 0.0% | 68 | 34 |
| DAIRY QUEEN GRILL & CHILL/TEXAS DQ | 11045 | 99 | 0 | 0.0% | 76 | 23 |
| RODEWAY INN | 13214, S1444 | 96 | 0 | 0.0% | 57 | 39 |
| WINGSTOP | 14318, S1937 | 94 | 0 | 0.0% | 86 | 8 |
| CULVER'S | 11023 | 81 | 0 | 0.0% | 65 | 16 |
| COLD STONE CREAMERY | 10900, S0400 | 78 | 0 | 0.0% | 59 | 19 |
| AMERICAS BEST VALUE INN (F/K/A BEST VALUE INN | 10200 | 68 | 0 | 0.0% | 46 | 22 |
| Best Western – Best Western Plus – Best Western Premier- Executive Residency by Best Western- @Home by Best Western – GLo – Aiden – Membership Agreement | S2125 | 64 | 0 | 0.0% | 37 | 27 |
| KIDS 'R' KIDS | 12066, S0944 | 61 | 0 | 0.0% | 41 | 20 |
| GOLDFISH SWIM SCHOOL | 11609, S0731 | 60 | 0 | 0.0% | 50 | 10 |
| BIGGBY COFFEE | 10502, S0218 | 56 | 0 | 0.0% | 45 | 11 |
| PEARLE VISION | 12773, S1286 | 52 | 0 | 0.0% | 43 | 9 |
| Culver's ButterBurgers & Frozen Custard | S0449 | 51 | 0 | 0.0% | 32 | 19 |
| PLATO'S CLOSET | 12927, S1327 | 51 | 0 | 0.0% | 39 | 12 |
| KNIGHTS INN | 12084, S0952 | 50 | 0 | 0.0% | 32 | 18 |
What to ask before committing to a franchise
Loan status and outlet history answer different questions. Our Item 20 franchise turnover comparison examines reported openings, terminations and transfers; those events are not interchangeable with loan charge-offs or owner failures.
- Ask about the specific franchise system today. Ownership, operating model and brand names may have changed since these loans were approved.
- Read the current franchise disclosure document. Compare financial performance representations, outlet openings and closures, required spending and franchisee contacts with the business you plan to buy.
- Stress-test the loan payment against the actual unit. Include royalties, advertising charges, rent, payroll and working capital. A familiar brand name is not a substitute for unit economics.
- Ask the lender about the proposed structure. Loan term, collateral, guarantees and equity contribution affect your exposure.
For the broader survival question, our business survival study uses establishment data. Its closure/survival measures should not be substituted for the loan charge-off measure here.
Source and reproducible method
Source: SBA 7(a)/504 FOIA loan data, the FY2010–FY2019 7(a) file with an as-of date of June 30, 2026, and its official data dictionary. Checked October 16, 2026. We select ApprovalFY 2015–2019, nonblank franchise code/name, and statuses PIF, CHGOFF or EXEMPT. Cancelled and committed-but-undisbursed records are excluded. We normalize spaces in status labels such as “P I F.”
The selected franchise population contains 28,766 loan records: 20,175 paid in full, 2,645 charged off and 5,946 EXEMPT. Sixteen included records lack a first-disbursement date; their eligible status supplies the disbursed classification. The 105-brand display is the subset with at least 50 eligible loans after name reconciliation. We count each source loan record once; repeat loans to one borrower are not treated as one business.
We combine brand names that match after removing capitalization, punctuation and spacing differences, retaining all associated SBA codes. We also combine Experimac with “Experimax f/k/a Experimac” because the SBA label explicitly identifies the former name. Other materially different names are not automatically merged. Codes in the full table make the groupings auditable. Missing or inconsistent franchise identifiers limit coverage.
Charge-off share = CHGOFF records ÷ eligible records. Gross balance charged off is the sum of GrossChargeOffAmount, which includes guaranteed and nonguaranteed portions; it is not the federal government’s net loss after recoveries. Status totals are checked against the source file. Approval years are federal fiscal years; the snapshot gives loans approximately 6¾–11¾ years of observation. There is no adjustment for lender or borrower differences, and active/unresolved loans may change status later.
These are historical recorded results, not allegations of wrongdoing, current franchise failure probabilities, or an endorsement of brands with low recorded shares. We do not infer that a missing brand has zero charge-offs.
Cite this study
StartBusinessByState.com. “The Franchise Loan Scorecard: Which Brands Have More SBA Charge-Offs.” Published October 16, 2026. https://startbusinessbystate.com/franchise-sba-loan-charge-offs/.
Our original analysis and graphic are available under CC BY 4.0. Credit this study and link to this page when reusing them. Underlying source materials retain their own terms and remain available from the original agencies. This permission applies to our original analysis and graphic, not to the source publications.
Embed the chart with a credit link
<figure><a href="https://startbusinessbystate.com/franchise-sba-loan-charge-offs/"><img src="https://startbusinessbystate.com/wp-content/uploads/2026/10/franchise-sba-loan-charge-offs.png" alt="The Franchise Loan Scorecard: Which Brands Have More SBA Charge-Offs?" style="max-width:100%;height:auto"></a><figcaption>Source: <a href="https://startbusinessbystate.com/franchise-sba-loan-charge-offs/">StartBusinessByState.com</a></figcaption></figure>