Data Verification Status: Verified Source — Incomplete Data
The FDD source for Nan Xiang Express has been verified (government filing), but core financial figures were not extracted from this filing — investment range and unit counts are not available. The filing may use non-standard disclosure formats. Request the FDD directly from the franchisor for complete figures. Extracted from 2026 FDD filed with MN CARDS (file #11580). Source: 11580-2026.pdf
Nan Xiang Express
FDD data sourced from 2026 MN CARDS filing (file #11580)
Nan Xiang Express franchise — MN CARDS FDD 2026.
Key Metrics
Total Investment
Not disclosed
Avg Revenue (Item 19)
Not Available
Not Disclosed in Reviewed Filing
Royalty Rate
—
2026 FDD
Total Units
Not disclosed
Franchise Overview
Money: What You Pay, What You Make
Investment costs, ongoing fees, and disclosed revenue — FDD Items 5, 6, 7, and 19
Diligence Scores
Computed from government-filed FDD data. Each score is 0–100. Methodology is public and citation-backed.
System Health
Based on Item 20 outlet trends
Franchisor Strength
Based on Item 21 financials + Items 3-4
Contract Burden
Based on Item 17 terms + Item 12 territory
Economics
Not Rated
Item 19 not included in FDD (voluntary per FTC)
Confidence
Data completeness + extraction quality
Scores are editorial calculations from cited government filings (2026 FDD). They are not investment advice. Missing economics data does not indicate poor economics — it means Item 19 revenue data is unavailable for scoring. See methodology for details.
Data Coverage
Gov-filed FDD · 2026
4/11
items populated
Item 19 — Financial Performance Representation
Item 19 — Economics Not Available
This franchisor chose not to include a Financial Performance Representation in their FDD. Item 19 is voluntary per FTC rules — its absence does not indicate poor economics.
Coverage status: Not Disclosed in Reviewed Filing
Item 19 Data Quality
Before comparing this revenue figure to other brands, review these data-quality flags.
No Item 19
This franchisor did not include a Financial Performance Representation in their FDD. Item 19 is voluntary per FTC rules — absence does not indicate poor economics.
Fee Structure
| Initial Franchise Fee | Not disclosed |
| Total Investment Range | Not disclosed |
| Royalty | — |
| Marketing / Ad Fund | — |
Operations: The Rules You Live By
Contract terms, territory, suppliers, training, and financing — FDD Items 8, 10, 11, 12, 17
Contract Terms at a Glance
Key franchise agreement provisions — from FDD Item 17. These define your legal relationship.
System Health: Is It Growing or Shrinking?
Unit openings, closures, transfers, and geographic spread — FDD Item 20
Unit Economics — Item 20 (Outlets & Franchisee Information)
Units Opened
+0
Units Closed
-0
Units Transferred
0
| Net Growth | -3 units |
| Turnover Rate | 0% |
Outlet Churn Anatomy — Item 20
Exit-type breakdown for the 2026 FDD reporting period. Source: government-filed FDD.
contracting System
System is shrinking — net -3 units. Closures exceed openings. Verify whether this is temporary or structural.
Opened
+0
Exited
-0
Net
-3
Franchisor Strength: Can They Support You?
Financial health, litigation history, and audited statements — FDD Items 3, 4, 21
Litigation Summary — Item 3
Active Lawsuits
46
Trend
Lawsuit Types
Franchisor Financial Strength — Item 21
Extracted from audited financial statements filed with the FDD.
Going Concern Warning
The auditor included a going concern qualification in their opinion. This means the auditor has doubts about the franchisor's ability to continue operating. This is a serious red flag — consult a franchise attorney before proceeding.
Auditor
ey
△ Qualified opinion
Financial Strength
weak
Derived from audited balance sheet
| Franchisor Financials (most recent audited year) | |
|---|---|
| Total Assets | $305,726 |
| Total Liabilities | $305,726 |
| Equity | $81,226 |
| Net Income | $36,427 |
| Cash & Equivalents | $250,000 |
Peer Benchmarks
Ranked within services franchises at a under $150K investment tier. All data from government-filed FDDs.
Percentile rank vs. comparable franchises in the same category and investment tier. For revenue and growth: higher percentile = better. For fees and investment: lower percentile = better (bar shows relative advantage).
Trends & Change Signals
Multi-factor trend detection across revenue, unit count, financials, and litigation.
Overall Trend: critical
One or more critical deterioration signals detected. Review carefully before proceeding.
Unit Count (Current Period)
System contracting
Net -3 units; turnover 0%
Franchisor Financial Health
Auditor (ey) raised going concern doubts in the 2026 FDD
Going concern warning in audited financials
Auditor Opinion
Non-clean audit opinion from ey — indicates significant accounting concerns
Qualified opinion
Buyer Prep: What to Watch For
Key risk areas, questions for existing franchisees, and community insights
Franchisee Interview Prep
Questions to ask current franchisees — generated from red flags, Item 20 exit data, and contract terms in the 2026 FDD. Prioritized: critical questions first.
The franchisor's audited financials include a going-concern warning. Ask franchisees: have you heard anything about the franchisor's financial stability? Any changes to support or services recently?
Look for: Signs of reduced headquarters staffing, delayed tech updates, or reduced field support — early indicators of a financially stressed franchisor.
The agreement requires mandatory arbitration. Ask: have you ever had a dispute with the franchisor — how was it handled? Did you feel you had recourse?
Look for: Franchisees who've been through disputes. Understand if the arbitration process felt fair or heavily stacked toward the franchisor.
Cure period is only 10 days. Ask: have you ever received a default notice? How did the franchisor handle it — were they reasonable?
Look for: A short cure period combined with aggressive enforcement is a serious risk. Look for franchisees who feel supported vs. managed by threat.
How responsive is your franchisor rep — do they actually help when you have a problem, or are they just checking boxes?
Look for: Specific stories (not just vague positives). Ask about a time they needed help urgently — response time matters.
If you decided to sell your franchise tomorrow, how easy would that be? Has the franchisor ever blocked or delayed a transfer you wanted?
Look for: Transfer fee surprises, right-of-first-refusal complications, or franchisor demanding upgrades before approving a sale.
What did your revenue look like in year 1 vs. year 2 vs. now? When did you reach breakeven?
Look for: Year 1 revenue is typically well below Item 19 averages (which often exclude ramp-up units). Expect 12-24 months to reach average.
What did the training actually cover vs. what you needed on day 1? What do you wish you'd learned before opening?
Look for: Gap between training content and operational reality. New franchisees often report the training covered theory but not real-world situations.
Knowing everything you know now, would you sign this franchise agreement again? What would you negotiate differently?
Look for: This is the single highest-signal question. Listen for hesitation. Franchisees rarely criticize their decision publicly; even mild reservations are meaningful.
Community
Not FDD dataAnonymous Owner Submissions
No owner submissions yet for Nan Xiang Express. Be the first — your data helps future buyers.
Buyer Memo
One-page printable summary: investment, revenue, flags, and questions to ask.
View Memo →Full Diligence Memo
Item 19, system health, red flags, contract terms — cited to the filed FDD.
Full Analysis →Lender Readiness Pack
SBA-ready summary: investment ranges, scenario economics, franchisor financials.
View Lender Pack →Get the Full Report
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Premium
$79
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Data sourced from the 2026 FDD filed with a state franchise regulator (MN DFI/CARDS filing). Fields not extractable from the PDF are shown as not available. Last updated 2026-04-02.
Extracted from 2026 FDD filed with MN CARDS (file #11580). Source: 11580-2026.pdf
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