Quick Service Restaurant Feasibility Study in the Akron, OH Metro Area

Second class in the metro, below-parity weight

Quick-service restaurants rank second among the 39 asset classes in Akron, yet the location quotient of 0.67x puts the class below its national weight. SBA approved 59 loans between FY2017 and FY2026 for $19.7 million, and the area is 57 of 779 for limited-service restaurant loans.

Small tickets

A midpoint of $150,000 is 0.48x the class's national midpoint, with the middle half of loans between $50,000 and $458,750. Franchise share is 50.8%, so branded and independent operators are roughly balanced. No program split is printed for this cell, since Loan Analytics withholds counts that small. The median is under half the national figure for the class.

Huntington and KeyBank

The Huntington National Bank is listed on 21 loans worth $3.4 million, with KeyBank National Association next on 12 loans at $3.7 million, an average that tops Huntington's. Summit County holds 41 loans and Portage County 18. The metro uses the 2023 definition of the area around the project county, so a site just across a county line may belong to a different metro.

Years

Counts that are printed: FY2018, 10 loans and $2.7 million; FY2021, 6 and $2.4 million; FY2022, 8 and $2.8 million; FY2023, 10 and $1.4 million; FY2024, 9 and $2.3 million. Loan Analytics withholds the other years because the counts are too small. Cancellations and charge-offs get no rate for the same reason, so this page shows no loss measure for the cell.

Testing an Akron-area quick-service project

A study of a drive-through or counter site should test the sales it can reach on local traffic, the competing brands within a short drive, and the cost of the building or conversion. Because tickets are small here, a plan far above $150,000 needs an explanation. A franchise plan should compare the franchisor's disclosed unit sales with local wages and food cost. The loan payment should be covered at sales below the plan, and the appraiser ought to split the value between the franchise right and the real estate. The $19.7 million total across 59 loans is context, a request well above the median should show why it differs, and approval is never promised.