Quick Service Restaurant Feasibility Study in the Canton-Massillon, OH Metro Area

Small tickets, second on the local list

Canton-Massillon holds 98 of 779 among areas for limited-service restaurant loans, and limited-service restaurant holds 2 of 39 among Canton-Massillon's classes. The 36 approved loans total $10.2 million over FY2017 to FY2026. Canton-Massillon carries a location quotient of 0.80x: limited-service restaurant loans claim a lighter share there than nationally. Nothing here is labelled distinctive, so the Canton-Massillon cell is described, not ranked as unusual, and the plainest feature is how small the Canton-Massillon loans are.

The median is $115,000, just 0.37x the national median over limited-service restaurants, and $40,000 marks the lower quartile and $358,175 the upper. That is a low-ticket band; nothing printed says what the money bought. The franchise share of loans is 41.7%. The page leaves out how the Canton-Massillon loans divide between the two SBA programs in Canton-Massillon. All above describes SBA loans in Canton-Massillon; other funding for limited-service restaurant projects in Canton-Massillon sits outside these figures.

One large holder

The Huntington National Bank appears with $4.2 million spread over 20 of the 7(a) loans, which is a sizable share of the 36. That describes who holds the Canton-Massillon loans today, not who made them, and the line is silent on how the bank reviews a request.

Four years print: 6 loans worth $790,000 in FY2019, 5 loans worth $1.5 million in FY2020, 8 loans worth $1.5 million in FY2023, and FY2026 with no loans and $0. In Canton-Massillon, every year shown is a complete fiscal year, so a zero is a count. We hold back Canton-Massillon's both loss-side rates as the Canton-Massillon FY2017 to FY2021 set of loans counts under 30 loans, so in Canton-Massillon our own rule applies. A missing rate in Canton-Massillon is unknown, not nil.

Proof a study in Canton-Massillon has to supply

A quick-service unit near Canton and Massillon should be tested at the pad itself: passing traffic, visibility, and the weekly sales that cover rent, payroll and any royalty. With tickets this small, buildout and equipment must suit a loan nearer $115,000 than the top of the band, and an appraisal of any leasehold or building must not be stretched to carry the debt. The federal delineation draws Canton-Massillon; so loans from counties Canton-Massillon does not place are excluded from its totals.