SBA 7(a)/504 FOIA · FY1991–PRESENT · CALIFORNIA
Cold Stone Creamery franchise in California: what the public record shows
Franchisees of Cold Stone Creamery in California have taken 244 SBA loans in the FY1991–present FOIA files (average $236,821). Those approved through FY2020 defaulted at a rate not clearly different from franchise loans made in the same years nationally: 28 charge-offs among 181 resolved loans, where about 37 would be expected (0.8×). Cold Stone Creamery's national ratio is 1.4×.
Loans in CA
244
Charged off (all years)
28 of 185
Loss ratio in CA (not clear)
0.8×
Loss ratio nationally
1.4×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = CA. Loss ratio = charge-offs among loans approved through FY2020 ÷ the charge-offs expected if each had defaulted at the national rate for franchise loans approved the same year; 1.0× is the same. Only charged-off and paid-in-full loans count. A ratio is shown at 30+ such loans; “not clear” marks a ratio chance alone could produce. The all-years count mixes every era and is evidence, not a rate to compare. Borrowers are matched to the brand by name and SBA franchise code; some matches may be wrong or missing.
Businesses in this industry
79,264
statewide, all operators
Per 100k residents
201
national 179.9
Versus the country
+12%
denser
Every business in Cold Stone Creamery's industry operating in California — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across the brand-state cells in the loan data, denser markets have historically charged off less often than the thinnest (see the research page). A crowded market is usually proven demand; an empty one is often empty for a reason.
Avg weekly wage, this industry
$643
California, BLS QCEW 2025
National average
$537
same industry, all states
Versus the country
+20%
costlier to staff
What Cold Stone Creamery's industry actually pays workers in California, from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (2025), employment-weighted across counties. This cost signal is independent of the FDD: a market can look demand-rich above and still carry a margin headwind here if local wages run hot for the sector.
| System | Loans in CA | Charged off (all years) | Loss ratio in CA | Units in CA |
|---|---|---|---|---|
| Subway | 573 | 25 of 463 | 0.3× | 1,783 |
| Quiznos | 346 | 76 of 277 | 1.2×NOT CLEAR | — |
| Baskin-Robbins | 228 | 28 of 172 | 0.9×NOT CLEAR | — |
| Mountain Mike'S Pizza | 127 | 11 of 82 | 0.9×NOT CLEAR | — |
| Togo'S Eatery | 122 | 17 of 106 | 0.8×NOT CLEAR | — |
| DENNY'S | 119 | 6 of 96 | 0.4× | 327 |
| Juice It Up | 97 | 18 of 66 | 1.2×NOT CLEAR | — |
| Round Table Pizza | 97 | 2 of 60 | 0.3× | — |
| DAIRY QUEEN | 94 | 11 of 76 | 1.0×NOT CLEAR | — |
| Papa Murphy'S | 91 | 2 of 71 | 0.1× | — |
| Wienerschnitzel | 91 | 13 of 71 | 1.1×NOT CLEAR | — |
| Wetzel'S Pretzel | 80 | 5 of 53 | 0.6×NOT CLEAR | — |
Other systems in Cold Stone Creamery's sector whose franchisees borrowed in California. A loss ratio appears only where at least 30 loans approved through FY2020 have resolved; “—” means too few.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing Cold Stone Creamery’s numbers, including talking you out of a bad deal.