OFFICIAL FILING · MN · 2026
REF FDD (Franchise Disclosure Document) — 2026
The FDD is the 23-item legal disclosure every U.S. franchisor must hand you at least 14 days before you sign or pay anything (FTC Franchise Rule, 16 CFR 436). REF's most recent FDD tracked here was filed in 2026 with the Minnesota Department of Commerce (public CARDS portal) — and because registration-state filings are public records, you can read it free, without giving a broker your phone number.
THE SAME DOCUMENT SITES SELL OR GATE BEHIND LEAD FORMS. FILED 2026 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $58K |
| ITEM 6 | Ongoing royalty | 20.0% of gross sales |
| ITEM 7 | Total initial investment | $67K–$84K |
| ITEM 3 | Disclosed litigation matters | 1 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $258K (As of December 31, 2025, there were 14 Franchise Units in the United States which had been open and operating for all of calendar year 2025. Table 1 represents the actual average 2025 Gross Received Revenues of these 14 Franchise Units (the "Covered Units"). Gross Received Revenues reflect payments received for services rendered to members and not revenues billed or invoiced to members, which are generally higher. We calculated the figures for the Covered Units in these tables using information extracted from the actual accounting records for receipts of funds during 2024. — Table 1 "All Covered Units": Average Gross Received Revenues $314,113; Percentage and Number of units in category that exceed Average 35.71% or 5 of 14 units; Median $258,477; Range $722,531 to $85,854. The information contained in these tables has not been audited.) |
| ITEM 20 | Outlets (fiscal 2025) | 14 franchised at year end · 1 exits (6.7% annualized) |
| ITEM 21 | Franchisor financial statements | clean (unqualified) audit opinion — DA Advisory Group PLLC |
Citation discipline: every figure above is extracted from the 2026 REF FDD as filed and links back to that document. Fields the filing did not state are omitted — nothing here is estimated, surveyed, or filled in from marketing material. FDDs are reissued annually; verify against the current issuance before relying on any number.
REF FDD questions, answered
Where can I download the REF FDD for free?
REF's 2026 Franchise Disclosure Document is a public record, filed with the Minnesota Department of Commerce (public CARDS portal). It can be downloaded free from the source link on this page — no broker form, no email signup required.
What year is REF's most recent FDD on file?
The most recent REF FDD tracked here was filed in 2026 with the Minnesota Department of Commerce (public CARDS portal). Franchisors must update their FDD annually, so confirm you are reading the current issuance before signing.
Does REF's FDD disclose earnings (Item 19)?
Yes — REF makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $258K. Read the basis fine print: franchisors choose which units and metrics to include.
What does REF's FDD Item 20 show?
In fiscal 2025, REF ended with 14 franchised outlets; 1 of 15 open at the start of the year left the system — an annualized exit rate of 6.7% (terminations, non-renewals, and "ceased operations — other reasons").
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing REF's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →