Lizard Thicket vs Style Encore
Lizard Thicket vs Style Encore: Lizard Thicket costs $150K to $522K to open; Style Encore costs $33K to $328K. Lizard Thicket has 17 units, Style Encore has 18. SBA loan history: Lizard Thicket = 11 loans (0.0% default); Style Encore = 24 loans (4.2% default). The franchise with more SBA funded units, a lower SBA default rate, and a lower royalty load is the safer financing bet; see the comparison below.
Lizard Thicket vs Style Encore: Capital, Scale & Lending Analysis
Analysis based on FDD filings and SBA 7(a) loan level data. Each pairing reflects a unique combination of capital intensity, system scale, and financing path.
Capital Intensity
Style Encore requires the lower minimum capital commitment ($33K vs $150K for Lizard Thicket), a 355% spread.
System Scale & Tenure
On scale, Style Encore operates 18 units to Lizard Thicket's 17. Lizard Thicket has been operating 45 years (founded 1981) versus 13 for Style Encore (founded 2013), a 32-year tenure gap that affects unit-economics maturity and FDD revision history.
SBA Lending Profile
Style Encore has the deeper SBA lending track record, with 24 7(a) approvals compared with 11 for Lizard Thicket. Lizard Thicket's peak SBA year was 2016 (6 loans); Style Encore's peak was 2015 (11 loans). Lizard Thicket's more recent peak generally indicates fresher lender appetite. Lizard Thicket has the most SBA funded units in GA, with 7. Style Encore leads in TX, with 4. Borrowers should pick the brand whose strongest SBA state matches their own state for warmer lender introductions. Average SBA loan size on funded Lizard Thicket deals is $421K vs $196K for Style Encore, useful as a sizing anchor when modeling your own unit.
Risk Signal
SBA default rates are 0.0% for Lizard Thicket and 4.2% for Style Encore, Lizard Thicket has the cleaner SBA loss record by 4.2 points. PeerSense FPI scores come in at 46 (Fair) for Lizard Thicket and 51 (Moderate) for Style Encore, giving Style Encore the stronger composite signal across SBA performance, lender appetite, and operational consistency.
Health & Performance
FPI Score | 46/100 | 51/100 |
Health Tier | Fair | Moderate |
Confidence | N/A | N/A |
Lending Trend | Declining | Declining |
SBA Lending
SBA Loans | 11 | 24 |
SBA Volume | – | – |
Default Rate | 0.0% | 4.2% |
Peer Tier | growing | growing |
Investment & Costs
Total Investment | $150K to $522K | $33K to $328K |
Franchise Fee | N/A | $25K |
Royalty Rate | N/A | 5% |
Ad Fund | N/A | 2% |
Liquid Capital | N/A | N/A |
Net Worth Required | N/A | N/A |
Financial Performance (Item 19)
Item 19 Status | Not Disclosed | Disclosed |
System Size & Operations
Total Units | 17 | 18 |
Franchised Units | 17 | 18 |
Company Owned | – | – |
Term Length | N/A | 10 yrs |
Brand Information
Year Founded | 1981 | 2013 |
Franchising Since | N/A | 2013 |
Years Franchising | N/A | 13 yrs |
Headquarters | CUMMING, GA | AUSTIN, TX |
Category | Clothing Accessories Stores | Clothing Accessories Stores |
Website | ||
FDD Year | N/A | 2025 |
Which Is Better, Lizard Thicket or Style Encore?
Lower upfront capital required
Tie
Lizard Thicket: $150K starting · Style Encore: $33K starting
More SBA lender confidence
Style Encore
Lizard Thicket: 11 SBA loans · Style Encore: 24 SBA loans
Lower SBA default rate
Lizard Thicket
Lizard Thicket: 0.0% · Style Encore: 4.2%
Larger system & brand presence
Tie
Lizard Thicket: 17 units · Style Encore: 18 units
More lender financing options
Style Encore
Lizard Thicket: 8 unique lenders · Style Encore: 14 unique lenders
Decision matrix uses publicly disclosed FDD and SBA loan data. Not a recommendation. Your best franchise depends on capital, market, operating capacity, and risk tolerance.
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About These Franchises
Lizard Thicket vs Style Encore: Franchise Funding Comparison
Comparing Lizard Thicket and Style Encore is about more than brand preference. It's about which franchise fits your financial profile and funding strategy. Investment ranges from $33K to $522K.
Lizard Thicket has 11 SBA loans on record and Style Encore has 24. Those totals are cumulative history rather than a measure of current appetite. Recent lending activity is trending down for at least one of these brands, so current lender appetite has to be checked deal by deal rather than assumed from the totals.
SBA 7(a) loans are the most common franchise funding vehicle, offering up to $5M with as little as 10% down. PeerSense connects franchise buyers with the specific lenders who have approved loans for these brands, not generic referrals, but lenders with actual franchise lending track records.
Data sourced from SBA loan records, Franchise Disclosure Documents, and public filings. Updated regularly. Not financial advice, consult with a lending professional before making investment decisions.
Lizard Thicket vs Style Encore, Frequently Asked Questions
Which is a better franchise investment, Lizard Thicket or Style Encore?
How much does a Lizard Thicket franchise cost compared to Style Encore?
Can I finance Lizard Thicket or Style Encore with an SBA loan?
Which has a lower SBA default rate, Lizard Thicket or Style Encore?
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Page Review
Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; the capital source sets final terms.
- Edward L. Freeman founded PeerSense in January 2020.
- He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
- His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
- In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page
Last reviewed LinkedIn profileAbout Edward Freeman