SBA 7(a)/504 FOIA · FY1991–PRESENT · VIRGINIA
HOTWORX franchise in Virginia: what the public record shows
Franchisees of HOTWORX in Virginia have taken 12 SBA loans since 1991 (average $414,608)— too few resolved loans in-state to publish a local failure rate (we require a resolved cohort, never extrapolate), so the brand's national rate of 1.5% is the better guide. Its latest FDD Item 20 state table reports 13 franchised outlets in Virginia (fiscal 2025) — about 0.15 per 100k residents.
Loans in VA
12
Resolved
0
Local charge-off
thin
National charge-off
1.5%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = VA. Charge-off rate = charged-off ÷ (charged-off + paid-in-full); open loans excluded. A local rate is published only when the resolved cohort clears our floor of 30 loans.
| Fiscal year | Franchised | Company-owned |
|---|---|---|
| 2023 | 7 | — |
| 2024 | 10 | — |
| 2025 | 13 | — |
| System | Loans in VA | Local charge-off | Units in VA |
|---|---|---|---|
| Subway | 90 | 0.0% | 547 |
| DAIRY QUEEN | 38 | 24.0% | — |
| Firehouse Subs | 31 | 5.3% | 57 |
| Fastsigns | 17 | 15.4% | — |
| CERTA PROPAINTERS | 14 | thin | 17 |
| EDIBLE ARRANGEMENTS | 14 | 30.0% | 26 |
| MASSAGE ENVY | 14 | 10.0% | 37 |
| Rainbow Restoration | 14 | thin | — |
| Matco Tools | 12 | 10.0% | — |
| Plato'S Closet | 12 | thin | — |
| Home Instead | 11 | thin | 15 |
| SERVICEMASTER RESTORE | 11 | thin | 50 |
Same sector, same state, same public records — how HOTWORX compares to the systems a buyer in Virginia would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing HOTWORX's numbers, including talking you out of a bad deal.
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