SBA 7(a)/504 FOIA · FY1991–PRESENT · MICHIGAN
Image Sun franchise in Michigan: what the public record shows
Franchisees of Image Sun in Michigan have taken 11 SBA loans since 1991 (average $199,127)— 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 68.8% is the better guide.
Loans in MI
11
Resolved
8
Local charge-off
thin
National charge-off
68.8%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MI. 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.
Businesses in this industry
2,326
statewide, all operators
Per 100k residents
22.9
national 26.6
Versus the country
-14%
thinner
Every business in Image Sun's industry operating in Michigan — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across 198 brand-state cells in our loan data, the densest quartile charges off at 5.6% versus 18.1% in the thinnest. A crowded market is usually proven demand; an empty one is often empty for a reason.
Avg weekly wage, this industry
$567
Michigan, BLS QCEW 2025
National average
$698
same industry, all states
Versus the country
-19%
cheaper to staff
What Image Sun's industry actually pays workers in Michigan, from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (2025), employment-weighted across counties. This is a real cost signal 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 MI | Local charge-off | Units in MI |
|---|---|---|---|
| Fantastic Sams | 30 | 34.8% | — |
| GREAT CLIPS | 27 | 0.0% | — |
| European Wax Centers-Galleria | 9 | thin | — |
Same sector, same state, same public records — how Image Sun compares to the systems a buyer in Michigan 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. I'm paid by you — and the job is pressure-testing Image Sun's numbers, including talking you out of a bad deal.