Verified — real FDD extraction
SBA-eligible · directory code S1525 since 2017
SANDLER
Other · independent · est. —
Sandler is a sales training and performance company that licenses its selling methodology, training programs, and coaching materials. A franchisee operates a local training practice, delivering ongoing sales and leadership training to business owners, sales teams, and professionals, typically from an office or training room.
SANDLER net unit count grew +7.3% from 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. The numbers on this page come straight from that document:
- 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 and closed, the basis for our verdict (from Proven & strong down to Distressed — or Too new to judge).
The verdict
Proven & steady
Distress
A real track record with an unremarkable region of the ledger: neither the growth nor the exits stand out, for better or worse. The main concern in the record: too many owners are failing outright rather than selling.
Exit rate · latest year
7.2%
fiscal 2025, per Item 20
Cost to open
$84K–$108K
Item 7 total investment range
SBA loan defaults
4.3%
23 loans resolved — directional only
Behind the verdict
the record, factor by factor · Item 20
3-yr trend · 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
Systemwide units
2023–2025
Survival record
FDD Item 20 · outlet status by year
In fiscal 2025, 10 of 138 franchised outlets left the system — a 7.2% annualized exit rate. Not every exit is a failure — but this is the measurable floor.
Show the outlet tables ↓Hide the evidence ↑
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 140 | 137 | 138 |
| Opened | 10 | 10 | 19 |
| Transfers | 2 | 1 | 4 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 1 | 1 | 3 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 12 | 8 | 7 |
| Outlets at end | 137 | 138 | 147 |
| Net change | -3 | +1 | +9 |
The lender's view
SBA 7(a)/504 loan performance · FY1991–present
Banks have made 36 SBA-backed loans to SANDLER franchisees since 1994. Only 23 have resolved so far — too thin for a reliable default rate, but 1 of them charged off.
—
23 resolved · too thin to rate
—
avg. charged-off $ ÷ approved $
—
default rate × loss severity
$337,033
what recent franchisees borrowed
46 mo
approval → charge-off, defaulted loans
6 vs 9
distinct banks still lending
Charge-off rate by loan approval year (%)
SOURCE: SBA 7(a)/504 FOIA LOAN DATA (DATA.SBA.GOV), FY1991–PRESENT · MATCHED TO SANDLER BY FRANCHISE NAME · RESOLVED = CHARGED-OFF + PAID-IN-FULL
The owner's side of the deal
FDD × federal loan record
A typical SANDLER buyer since 2020 borrowed $337K through SBA — about $51K a year in debt service. Against the brand's own disclosed median unit revenue of $413K, that is 12.3% of every dollar the store takes in — before rent, payroll, food, or royalty.
Who finances it
the Huntington National Bank
8.6% of this brand's loans
That lender charges off 10.1% of its loans to other franchise brands, vs 14.8% nationally.
Who buys it
72.4%
first-time franchise owners
The rest already owned at least one other franchise. Across the corpus, brands bought mostly by repeat operators charge off at roughly 10% versus 17% for brands sold mostly to newcomers.
Does experience help here?
Not enough resolved loans to split
Computed from 36 SBA 7(a)/504 loans to SANDLER franchisees joined to the brand's own FDD. Debt service assumes level amortization at the average disclosed term and rate. A lender's rate excludes its loans to this brand, so it reads the lender, not the brand.
What it costs — and what it drags
FDD Items 5–7 · fees, investment, royalty
Buying in means a $65K franchise fee (Item 5) and a total investment of $84K–$108K (Item 7). The franchisor publishes an earnings claim (Item 19) — read its methodology closely.
To open (Item 7)
$84K–$108K
all-in investment range
Franchise fee (Item 5)
$65K
upfront, one-time
Royalty (Item 6)
8%
of sales, ongoing
Your figure — cross-check against this brand's Item 19 and current-owner validation.
Royalty you'd pay / yr
$80K
8% of sales, before profit
Over a 10-yr term
$800K
royalties alone, excl. ad fund
This is not profit. It's the only money the FDD actually pins down — what you put in, and the royalty you owe on every dollar of sales. Your real take-home depends on labor, rent, food cost, and ramp-to-breakeven, none of which any FDD discloses.
Build a real pro-forma for SANDLER with an independent CPAModeled risk
FDD Risk Score · modeled from the public record
Modeled from the public record, this brand looks riskier than 75% of systems we score.
Risk percentile
75 / 100
Loan-corroborated
Modeled SBA charge-off
16.4%
Observed SBA charge-off
4.3%
Top drivers: Investment ceiling (log) (raises) · Single-lender dependence (raises) · Share financed by high-loss lenders (lowers) · System size (log units) (raises). 15+ resolved loans stand behind this estimate. A linear scorecard built from this brand's own disclosure figures plus the federal loan record behind its franchisees; full spec and cross-validated accuracy on the methodology page. A score is context, not a verdict.
Distress signals
news-sourced · bankruptcies, closures, lawsuits
No recent closures, bankruptcies, or major lawsuits found in the news for SANDLER. That's a good sign — but it reflects news coverage, not a guarantee.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing SANDLER's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →SANDLER franchise questions, answered from the filings
What percentage of SANDLER franchises closed last year?
In SANDLER's latest FDD Item 20 (fiscal 2025), 10 of 138 franchised outlets left the system — an annualized exit rate of 7.2%. That counts terminations, non-renewals, and "ceased operations — other reasons." There is no official failure rate, and not every exit is a failure, but this is the measurable floor.
How much does a SANDLER franchise cost?
Per SANDLER's 2026 FDD, buying in requires an initial franchise fee of $65K (Item 5) and a total initial investment of $84K–$108K (Item 7).
What royalty does SANDLER charge?
SANDLER charges an ongoing royalty of 8.0% of gross sales, per Item 6 of its 2026 FDD.
Does SANDLER disclose earnings (Item 19)?
Yes — SANDLER makes a financial performance representation in Item 19 of its 2026 FDD, reporting a median unit volume of $413K. Read it closely: franchisors choose which units and which metrics to include.