There are 5 entities! I wouldn't touch this deal for less than $25k TBH, go for the full QoE. Email me if you'd like to understand the financial risks of buying this business redacted If you care about money care more about buying the business for the right price rather than paying for a lite QoE and over paying for the business.

I previously bought and sold a few franchise territories and would recommend completing some QofE - just because it's part of a franchise doesn't make it more reputable than an independent business. There's potentially more ways the numbers could be funny due to the franchisor relationship as I learned while looking at another franchise resale a few years ago (I couldn't reconcile their financials on my own and hired an industry expert for lite scope QofE which quickly uncovered some unique circumstances that made the deal highly unattractive).