Verified — real FDD extraction
Not found in the SBA Franchise Directory under this name — though SBA loans to its franchisees exist; verify eligibility with your lender
Green Mill Restaurants, LLC
Food & Dining · independent · est. —
Green Mill is a Midwestern casual-dining restaurant chain known for its pizza, pasta, and full bar in a sit-down setting. A franchisee operates a full-service restaurant, managing kitchen, servers, bar, and dine-in guests.
Green Mill Restaurants, LLC net unit count declined -26.1% from 2019–2022 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
Too new to judge
Distress
23 franchised units over 4 disclosed years is not a track record — systems this early have realized only a fraction of their eventual failures. Judge the disclosures, not a verdict.
Exit rate · latest year
5.6%
vs 8.6% across 137 food & dining systems
Cost to open
$1.7M–$2.5M
Item 7 total investment range
SBA loan defaults
Too few resolved
9 loans exist; too few resolved to rate
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
2019–2022
Survival record
FDD Item 20 · outlet status by year
In fiscal 2022, 1 of 18 franchised outlets left the system — a 5.6% annualized exit rate, vs 8.6% across 137 food & dining systems. Not every exit is a failure — but this is the measurable floor.
Show the outlet tables ↓Hide the evidence ↑
| Status (FTC) | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|
| Outlets at start | 24 | 23 | 23 | 18 |
| Opened | 0 | 0 | 0 | 0 |
| Transfers | 2 | 1 | 0 | 0 |
| Terminations | 0 | 2 | 1 | 1 |
| Non-renewals | 1 | 2 | 0 | 0 |
| Reacquired by franchisor | 0 | 0 | 0 | 0 |
| Ceased — other reasons | 0 | 0 | 0 | 0 |
| Outlets at end | 23 | 19 | 19 | 17 |
| Net change | -1 | -4 | -4 | -1 |
The lender's view
SBA 7(a)/504 loan performance · FY1991–present
Banks have made 9 SBA-backed loans to Green Mill Restaurants, LLC franchisees since 2007. Most are still open, so there is not yet a resolved cohort large enough to rate.
—
7 resolved · too thin to rate
—
avg. charged-off $ ÷ approved $
—
default rate × loss severity
$274,366
what recent franchisees borrowed
—
approval → charge-off, defaulted loans
0 vs 1
distinct banks — pulling back
Charge-off rate by loan approval year (%)
Loan performance by state
SOURCE: SBA 7(a)/504 FOIA LOAN DATA (DATA.SBA.GOV), FY1991–PRESENT · MATCHED TO GREEN MILL RESTAURANTS, LLC BY FRANCHISE NAME · RESOLVED = CHARGED-OFF + PAID-IN-FULL
What it costs — and what it drags
FDD Items 5–7 · fees, investment, royalty
Buying in means a $45K franchise fee (Item 5) and a total investment of $1.7M–$2.5M (Item 7). The franchisor publishes no earnings claim (Item 19) — ask current and former franchisees for real numbers.
To open (Item 7)
$1.7M–$2.5M
all-in investment range
Franchise fee (Item 5)
$45K
upfront, one-time
Royalty (Item 6)
4%
of sales, ongoing
Your figure — this brand discloses no Item 19 earnings; validate with current & former owners.
Royalty you'd pay / yr
$40K
4% of sales, before profit
Over a 10-yr term
$400K
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 Green Mill Restaurants, LLC with an independent CPAModeled risk
FDD Risk Score · modeled from the public record
The public record puts this brand toward the middle of the systems we score — but the evidence is thin, so treat it as a range, not a number.
Risk percentile (range)
54–78 / 100
Directional
Modeled SBA charge-off
15.0%
Observed SBA charge-off
0.0%
Top drivers: System size (log units) (raises) · Investment ceiling (log) (lowers) · Net unit growth (raises) · Royalty rate (raises). Thin loan history — treat this as a range, not a number. 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 Green Mill Restaurants, LLC. 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 Green Mill Restaurants, LLC's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →Green Mill Restaurants, LLC franchise questions, answered from the filings
What percentage of Green Mill Restaurants, LLC franchises closed last year?
In Green Mill Restaurants, LLC's latest FDD Item 20 (fiscal 2022), 1 of 18 franchised outlets left the system — an annualized exit rate of 5.6% — compared with 8.6% across 137 food & dining systems tracked here. 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 Green Mill Restaurants, LLC franchise cost?
Per Green Mill Restaurants, LLC's 2023 FDD, buying in requires an initial franchise fee of $45K (Item 5) and a total initial investment of $1.7M–$2.5M (Item 7).
What royalty does Green Mill Restaurants, LLC charge?
Green Mill Restaurants, LLC charges an ongoing royalty of 4.0% of gross sales, per Item 6 of its 2023 FDD.
Does Green Mill Restaurants, LLC disclose earnings (Item 19)?
No — Green Mill Restaurants, LLC's 2023 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.