Curry Up Now
Initial Investment Range
$312,400 to $1,675,700
Franchise Fee
$35,950
Curry Up Now offers franchises for restaurants serving Indian-style cuisine with a twist, such as tikka masala burritos, deconstructed samosas, sexy fries (an Indian-inspired poutine), other signature dishes, appetizers, desserts and beverages.
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Curry Up Now May 1, 2024 FDD Risk Analysis
Free FDD Library AI Analysis Date: July 16, 2025
DISCLAIMER: Not Legal Advice - For Informational Purposes Only. Consult With Qualified Franchise Professionals.
Franchisor Stability Risks
Start HereDisclosure of Franchisor's Financial Instability
High Risk
Explanation
The franchisor explicitly warns that its financial condition “calls into question the franchisor's financial ability to provide services and support to you.” Financial statements in Exhibit A show a net loss of over $100,000 in 2023 and very low cash reserves. The franchisor’s financial weakness has led several states (Illinois, Maryland, Virginia) to require that it defer collecting your initial fees, which poses a significant risk to its ability to support your business long-term.
Potential Mitigations
- An experienced franchise accountant must thoroughly review the franchisor's financial statements, including all footnotes and year-over-year trends.
- Discuss the implications of the disclosed financial weakness and state-mandated fee deferrals with your franchise attorney.
- Ask your business advisor to help you assess if the franchisor has sufficient capital to fulfill its support obligations without relying on new franchise sales.
High Franchisee Turnover
High Risk
Explanation
The franchisor’s system has experienced concerning turnover. In 2022, two of the eight existing franchised outlets at the start of the year ceased operations, representing a 25% churn rate for that year. Another franchised unit was terminated in 2023. This level of turnover on a relatively small base of outlets may indicate potential issues with franchisee profitability, satisfaction, or the viability of the business model, which could present a significant risk to your investment.
Potential Mitigations
- It is critical to contact former franchisees listed in Exhibit E to understand why they left the system; your attorney can help frame appropriate questions.
- Engage an accountant to analyze the turnover data in Item 20 to calculate the effective churn rates over the last three years.
- Discuss the specific reasons for the terminations and ceased operations directly with the franchisor's management team.
Rapid System Growth
Medium Risk
Explanation
The system has been growing steadily, adding several new franchised and company-owned outlets over the last three years. While growth can be positive, when combined with the franchisor's disclosed financial weakness, there is a risk that its resources may be strained. This could potentially impact the quality and availability of essential franchisee support, training, and operational guidance as the system expands, which may affect your business's performance.
Potential Mitigations
- With your business advisor, question the franchisor about its specific plans and infrastructure for supporting continued growth.
- Inquire with a range of existing franchisees about the current quality and responsiveness of the franchisor's support systems.
- Your accountant should review the financial statements to assess whether the franchisor has allocated sufficient resources to support its expansion.
New/Unproven Franchise System
Medium Risk
Explanation
Francun Inc. (Francun) began franchising in 2017 and, as of the end of 2023, the system consisted of 11 franchised and 8 affiliate-owned outlets. While the affiliated operating history dates back to 2011, the franchise system itself is still relatively small. Investing in a smaller, less-established system carries inherent risks, including lower brand recognition and the possibility that operational systems and support structures are not yet fully mature or proven across a large number of franchisees.
Potential Mitigations
- A business advisor can help you conduct thorough due diligence on the system's track record and brand recognition in your target market.
- It is important to speak with the earliest franchisees in the system to learn about its evolution and the franchisor's performance over time.
- Your attorney might be able to negotiate more favorable terms to compensate for the higher risks associated with a smaller system.
Possible Fad Business
Low Risk
Explanation
The business concept, which combines Indian cuisine with popular casual formats like burritos and poutine, is unique. While this novelty can be a market advantage, it also carries the risk of being a trend with limited long-term consumer appeal. If the concept's popularity wanes, you would still be bound by the long-term franchise agreement, which could impact the future viability and profitability of your restaurant.
Potential Mitigations
- Engage a business advisor to research the long-term market trends for fast-casual and ethnic fusion concepts in your area.
- Inquire with the franchisor about its strategies and research and development plans for future menu innovation and concept evolution.
- Speaking with long-standing franchisees can provide insight into the sustainability of customer demand over time.
Inexperienced Management
Low Risk
Explanation
This specific risk was not identified in the FDD package. Item 2 indicates that the key executives have been involved with the concept and its affiliate operations since 2009, suggesting relevant industry experience. However, a lack of management experience in franchising can be a significant risk, as it may lead to underdeveloped support systems and strategic errors that negatively affect franchisees.
Potential Mitigations
- Investigating the specific franchise-related experience of the key management team members with a business advisor is always a prudent step.
- It is beneficial to ask existing franchisees about their perception of management's competence and the quality of system leadership.
- Your attorney can help you understand the protections you have if the franchisor fails to provide adequate support.
Private Equity Ownership
Low Risk
Explanation
The FDD does not indicate that the franchisor is owned or controlled by a private equity firm. This type of ownership can present unique risks, as PE firms often have specific investment timelines and return expectations that may lead to strategies focused on short-term gains, such as rapid expansion or cost-cutting in franchisee support, potentially at the expense of the system's long-term health.
Potential Mitigations
- As a general practice, your attorney should always verify the ownership structure disclosed in Item 1 of the FDD.
- If PE ownership is a factor, a business advisor can help research the firm's history with other franchise brands.
- It is wise to ask franchisees of any PE-owned system about changes in culture or support since the acquisition.
Non-Disclosure of Parent Company
Medium Risk
Explanation
The FDD discloses a parent company and affiliate, and the franchisor's balance sheet shows a very large receivable of nearly $800,000 due from a related party. Despite this significant financial interdependence, the parent company's financial statements are not provided. Given the franchisor's own disclosed financial weakness, the inability to assess the financial health of this related party, which owes it a substantial amount of money, presents a considerable risk regarding the overall stability of the enterprise supporting your franchise.
Potential Mitigations
- Your accountant should analyze the large related-party receivable and its potential impact on the franchisor's solvency.
- Consult with your attorney about the potential risks stemming from the lack of financial transparency of the parent and affiliated companies.
- Requesting financial statements for the parent company from the franchisor could provide a more complete financial picture.
Predecessor History Issues
Low Risk
Explanation
This risk was not identified, as Item 1 of the FDD states that the franchisor has no predecessors. When a franchisor has predecessors, it is important to review their history for issues such as litigation, bankruptcy, or high franchisee turnover. These historical problems can sometimes be inherited by the new franchisor entity and may indicate underlying, persistent issues with the franchise system or its business model.
Potential Mitigations
- Your attorney should always confirm the accuracy of the predecessor information disclosed in Item 1.
- If a predecessor exists, researching their public records for litigation or bankruptcy history is a crucial due diligence step for your attorney.
- Asking long-term franchisees about their experiences under any previous ownership can provide valuable context.
Pattern of Litigation
Low Risk
Explanation
Item 3 of the FDD does not disclose any litigation that would indicate a pattern of franchisee disputes or fraud claims against the franchisor. Such a pattern can be a major red flag, potentially signaling systemic problems in the franchisor's operations, sales practices, or relationship with its franchisees. The absence of this risk is a positive indicator, but it does not eliminate the need for thorough due diligence.
Potential Mitigations
- A franchise attorney can conduct independent searches for litigation that may not have been required to be disclosed in Item 3.
- Discussing any past or current disputes with a range of existing and former franchisees is a valuable part of due diligence.
- Always have your attorney review the dispute resolution clauses in the franchise agreement to understand your rights if a conflict arises.
Disclosure & Representation Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
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Financial & Fee Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Legal & Contract Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Territory & Competition Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Regulatory & Compliance Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Franchisor Support Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Operational Control Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Term & Exit Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
Miscellaneous Risks
Example Risk: Franchisee Financial Obligations
Blue Risk
Explanation
This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.
Potential Mitigations
- Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
- Conduct regular risk assessments
- Implement monitoring and reporting systems
Unlock Full Risk Analysis
Purchase the complete risk review to see all 102 risks across all 10 categories.
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