From the filed FDD — automated extraction, check the source
2026 FDD
SBA-eligible · directory code S7703 since 2022
Pearce Bespoke
Retail & Products · parent company: not identified
Pearce Bespoke is a custom clothing brand offering made-to-measure suits, shirts, and menswear. A franchisee operates a low-overhead showroom or appointment-based business, measuring clients, guiding fabric and style selections, and ordering garments for professionals and wedding parties.
Pearce Bespoke net unit count grew 62.5% over 2023–2025 per its FDD Item 20.
New to franchising? Start here
A franchise is a business where you (the franchisee) pay a company (the franchisor) for the right to open and run a location using their brand and system — think a local Anytime Fitness or Taco John's owned by a small-business owner, not the corporation.
Before you can buy in, U.S. law requires the franchisor to give you a Franchise Disclosure Document (FDD) — a long legal filing covering its fees, finances, and history. Most numbers on this page come from that document; others come from federal SBA loan records and labor and census data, each labelled with its source:
- Franchise fee — the one-time cost to buy in.
- Royalty — the ongoing cut of your sales you pay the franchisor.
- Item 20 — how many locations opened, transferred and left the system, the main basis for our verdict, which rates how strong the disclosed record is, or says when the system is too new, the filing too old, or the disclosure too thin to judge.
Our rating · opinion
Too new to judge
This system grew to 65 franchised units from 1 at the start of its disclosed record — most units have not been open long enough to show how they perform over a loan term (median SBA time to default is about five years). The fiscal 2025 exit rate was 16.3%, well above the 6.5% median across 23 comparable systems (retail & products). Judge the disclosures, not a verdict.
Exit rate · fiscal 2025
16.3%
vs 6.5% median across 23 comparable systems (retail & products)
Cost to open
$75K–$129K
Item 7 total investment range
SBA loan losses
Too few to rate
0 seasoned resolved loans; 30 needed
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Data as of 2026-10-29. Figures come from Pearce Bespoke's public FDD filings (latest: MN 2026, extracted 2026-07-22) and SBA FOIA loan records (through FY2026), extracted by us and possibly containing errors. The rating is our opinion, not investment, legal, or tax advice. Franchisor or owner and see something wrong? Report a correction — we review every request.
What each source says
FDD record · SBA loans · model · auditor
The Item 20 record is too short or too small to rate; the loan record and model are context, not a verdict.
FDD record · Item 20
Too little history
Units grew 63% (2023–2025: 40 → 65); exit rate 16.3% (fiscal 2025) vs 6.5% median.
SBA loans · vs same-year loans
Too few seasoned loans
0 resolved loans approved by FY2020; 30 needed.
Modeled risk
Not scored
Too little evidence for the model.
Auditor opinion · Item 21
Clean opinion
Unqualified audit, 2026 FDD. Says nothing about franchisee results.
Behind the verdict
the record, factor by factor · Item 20
latest consecutive years · Item 20 Table 1
terminations + ceased-ops vs. all exits · Table 3
transfers vs. base · Table 3
actual vs. projected openings · Table 5
Item 19 disclosure + completeness · shown, not counted in the verdict
Systemwide units
2023–2025
Survival record
FDD Item 20 · outlet status by year
In fiscal 2025, 8 of 49 franchised outlets left the system — an exit rate of 16.3% (fiscal 2025), vs a 6.5% median across 23 comparable systems (retail & products). An exit is not a failure: this counts terminations, non-renewals and "ceased — other reasons" as reported, and excludes transfers to new owners.
Show the outlet tables ↓Hide the evidence ↑
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 3 | 40 | 51 |
| Opened | 37 | 11 | 24 |
| Transfers | 0 | 0 | 1 |
| Terminations | 0 | 0 | 3 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 5 |
| Outlets at end | 40 | 51 | 65 |
| Net change | +37 | +11 | +14 |
The franchisor's own finances
FDD ITEM 21 · AUDITED STATEMENTS · 2026 FDD
Kezos & Dunlavy (Certified Public Accountants & Business Advisors), St. George, Utah gave an unmodified (clean) opinion on the statements in the 2026 FDD; revenue rose 108% from FY2023 to FY2024 and it reported a net loss in every year shown (FY2023–FY2024).
This is the company selling the franchise, not any franchisee. A clean opinion means the statements are fairly presented — not that the business is healthy.
Audit opinion
Unmodified (clean) opinion
Kezos & Dunlavy (Certified Public Accountants & Business Advisors), St. George, Utah · p. 50
Revenue · FY2024
$1.2M
extracted · not cross-checked
Net income · FY2024
−$22K
extracted · not cross-checked
Where FY2024 revenue came from
8% royalties
initial-fee share not extracted
Show the statement figures ↓Hide the evidence ↑
| Fiscal year | FY2023 | FY2024 |
|---|---|---|
| Total revenue | $573Kextracted · not cross-checked | $1.2Mextracted · not cross-checked |
| Royalty revenue | $47Kp. 53 · matched to statement | $98Kp. 53 · matched to statement |
| Net income (loss) | −$480Kextracted · not cross-checked | −$22Kextracted · not cross-checked |
The lender's view
SBA 7(a)/504 loan outcomes · compared with franchise loans of the same years
Banks have made 3 SBA-backed loans to Pearce Bespoke franchisees since 2024. Only 0 of its loans approved by FY2020 have resolved — fewer than the 30 we need to compare it fairly with other franchise loans, so we don't rate it.
All-time, 0 of 0 resolved loans charged off (—). That raw figure mixes every approval year since 2024 — loans made in 2006–08 failed at several times the rate of loans made in 2010–13 across all franchises — so it is shown as evidence, not as the score. 100% of the brand's loans have not resolved yet.
—
0 seasoned resolved · 30 needed
—
0 of 0 resolved, every approval year
—
charged-off $ ÷ approved $, defaulted loans
$150,000
what recent franchisees borrowed
—
shown with 10+ defaults
—
distinct banks lending
Charge-off rate by loan approval year (%) · dashed line = all franchise loans that year
SOURCE: SBA 7(a)/504 FOIA LOAN DATA (DATA.SBA.GOV), FY1991–PRESENT · MATCHED TO PEARCE BESPOKE BY SBA FRANCHISE NAME/CODE · RESOLVED = CHARGED-OFF + PAID-IN-FULL · EXPECTED = SAME-YEAR RATE ACROSS ALL SBA FRANCHISE LOANS, LOANS ≥ ~6 YEARS OLD
What it costs — and what it drags
FDD Items 5–7 · fees, investment, royalty
Buying in means a $55,900 franchise fee (Item 5) and a total investment of $75K–$129K (Item 7). The franchisor publishes no earnings claim (Item 19) — ask current and former franchisees for real numbers.
To open (Item 7)
$75K–$129K
all-in investment range
Franchise fee (Item 5)
$55,900
upfront, one-time
Royalty (Item 6)
See Item 6
not a single flat % — read the fee table
This is not profit. It covers what the FDD fixes: what you put in, and the royalty you owe on sales. Your take-home depends on cost of goods, labor, rent, and the months to breakeven, none of which the FDD fixes for your unit (some Item 19s include cost data — read it).
Build a real pro-forma for Pearce Bespoke with a buyer-paid CPAPublic records
Bankruptcy, closure & federal court records · coverage is selective · dockets are not scored
We have no verified public-record signals published for Pearce Bespoke. This is not evidence that no events exist. Check PACER, the FDD's Item 3 (litigation) and Item 4 (bankruptcy), and recent news yourself.
8 questions to ask a Pearce Bespoke franchisee
Built from this brand's own disclosures · take it to your validation calls
The franchisor will give you a list of owners to call. Most buyers ask whether they like it. These questions come from what Pearce Bespoke has disclosed. Each one carries the number it came from, so you can check the answer against the record.
- 01
Pearce Bespoke’s own Item 20 shows 8 of 49 franchised outlets left the system in fiscal 2025 — about 16.3%. Do you know any of those owners, and do you know why they left?
A franchisor will call these “transitions.” An owner three doors down usually knows whether they sold at a profit or handed the keys back.
FDD Item 20 · FY2025
- 02
1 units transferred to new owners in fiscal 2025. When you look at those, were they people cashing out a good business — or getting out of a bad one?
Item 20 counts transfers as neutral, but a transfer can be a good sale or a reluctant exit — the filing does not say which.
FDD Item 20 · FY2025
- 03
Item 7 puts the cost to open at $75K–$129K, yet the average recent SBA loan to Pearce Bespoke franchisees was $150K — above the whole range. What did those loans pay for: new units, resales, real estate, several units at once? And what did you actually spend to open, all in?
A loan above the disclosed range can mean buyers routinely overspend Item 7, or that SBA money in this system funds resales, property or multi-unit deals. The filing doesn't say which; an owner can.
FDD Item 7 vs SBA approvals FY2020+
- 04
Pearce Bespoke’s FDD makes no financial performance representation at all — legally, they've told buyers nothing about earnings. What did your first 24 months actually look like, month by month?
When a franchisor won't publish numbers, existing owners are the only source. Silence in Item 19 is a choice, not a requirement.
FDD Item 19 · 2026
- 05
How many months did it take to cover your own costs, and how much cash did you burn getting there?
Ramp-to-breakeven working capital is the most underestimated line in any franchise purchase, and the most common reason otherwise-good units fail.
Not disclosed in any FDD — ask an owner
- 06
What does the franchisor charge for that you didn't expect — required tech fees, mandatory remodels, approved-supplier pricing?
Required spending appears across Items 6, 8 and 11 rather than in one place, so buyers routinely miss the total.
FDD Items 6, 8, 11
- 07
If your agreement came up for renewal tomorrow at current terms, would you sign again?
The single most predictive question you can ask. A hesitation is the answer.
Ask every owner you speak to
- 08
Who else should I call — including someone who left?
The franchisor's list is curated by definition. Former franchisees are where the unflattering truth lives, and current owners usually know how to reach them.
Ask every owner you speak to
Want this as a checklist you can take to the calls?
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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 Pearce Bespoke’s numbers, including talking you out of a bad deal.
This page is what buyers see before they call you for validation. If the record above is wrong — or right in a way the numbers can't show — say so. Franchisors: send corrections with the page reference and we will review them against the filing and update or annotate the page. Corrections are checked against the filings; nothing you write is published with your name unless you agree to it.
Pearce Bespoke franchise questions, answered from the filings
How many Pearce Bespoke franchised outlets left the system last year?
In Pearce Bespoke's latest FDD Item 20 (fiscal 2025), 8 of 49 franchised outlets left the system — an exit rate of 16.3% — compared with a 6.5% median across 23 comparable systems (retail & products) tracked here. That counts terminations, non-renewals, and "ceased operations — other reasons" as the franchisor reported them; it excludes transfers to new owners. The FDD does not say why each outlet left, and an exit is not the same as a failure.
How much does a Pearce Bespoke franchise cost?
Per Pearce Bespoke's 2026 FDD, buying in requires an initial franchise fee of $55,900 (Item 5) and a total initial investment of $75K–$129K (Item 7).
Does Pearce Bespoke disclose earnings (Item 19)?
No — Pearce Bespoke's 2026 FDD makes no financial performance representation in Item 19. That is legal and common, but it means the franchisor publishes no earnings claim; ask current franchisees for real numbers.