Red Wheel Pizza Fundraising vs The Alternative Board
Red Wheel Pizza Fundraising vs The Alternative Board: Red Wheel Pizza Fundraising costs $22K to $940K to open; The Alternative Board costs $41K to $103K. Red Wheel Pizza Fundraising has 4 units, The Alternative Board has 13. SBA loan history: Red Wheel Pizza Fundraising = 7 loans (0.0% default); The Alternative Board = 13 loans (23.1% 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.
Red Wheel Pizza Fundraising vs The Alternative Board: 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
Red Wheel Pizza Fundraising requires the lower minimum capital commitment ($22K vs $41K for The Alternative Board), a 45% spread.
System Scale & Tenure
On scale, The Alternative Board operates 13 units to Red Wheel Pizza Fundraising's 4, roughly 3× the system size. Red Wheel Pizza Fundraising has been operating 44 years (founded 1982) versus 17 for The Alternative Board (founded 2009), a 27-year tenure gap that affects unit-economics maturity and FDD revision history.
SBA Lending Profile
The Alternative Board has the deeper SBA lending track record, with 13 7(a) approvals compared with 7 for Red Wheel Pizza Fundraising. Red Wheel Pizza Fundraising's peak SBA year was 2009 (2 loans); The Alternative Board's peak was 2021 (3 loans). The Alternative Board's more recent peak generally indicates fresher lender appetite. Red Wheel Pizza Fundraising has the most SBA funded units in IA, with 4. The Alternative Board leads in CO, with 2. Borrowers should pick the brand whose strongest SBA state matches their own state for warmer lender introductions. Average SBA loan size on funded Red Wheel Pizza Fundraising deals is $401K vs $114K for The Alternative Board, useful as a sizing anchor when modeling your own unit.
Risk Signal
SBA default rates are 0.0% for Red Wheel Pizza Fundraising and 23.1% for The Alternative Board, Red Wheel Pizza Fundraising has the cleaner SBA loss record by 23.1 points. PeerSense FPI scores come in at 50 (Moderate) for Red Wheel Pizza Fundraising and 38 (Fair) for The Alternative Board, giving Red Wheel Pizza Fundraising the stronger composite signal across SBA performance, lender appetite, and operational consistency.
Health & Performance
FPI Score | 50/100 | 38/100 |
Health Tier | Moderate | Fair |
Confidence | N/A | N/A |
Lending Trend | N/A | Declining |
SBA Lending
SBA Loans | 7 | 13 |
SBA Volume | – | – |
Default Rate | 0.0% | 23.1% |
Peer Tier | emerging | growing |
Investment & Costs
Total Investment | $22K to $940K | $41K to $103K |
Franchise Fee | N/A | $20K |
Royalty Rate | N/A | 20% |
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 | 4 | 13 |
Franchised Units | 4 | 13 |
Company Owned | – | – |
Term Length | N/A | 5 yrs |
Brand Information
Year Founded | 1982 | 2009 |
Franchising Since | N/A | 2008 |
Years Franchising | N/A | 18 yrs |
Headquarters | COUNCIL BLUFFS, IA | Westminster, CO |
Category | All Other Business Support Services | All Other Business Support Services |
Website | ||
FDD Year | N/A | 2026 |
Which Is Better, Red Wheel Pizza Fundraising or The Alternative Board?
Lower upfront capital required
Tie
Red Wheel Pizza Fundraising: $22K starting · The Alternative Board: $41K starting
More SBA lender confidence
The Alternative Board
Red Wheel Pizza Fundraising: 7 SBA loans · The Alternative Board: 13 SBA loans
Lower SBA default rate
Red Wheel Pizza Fundraising
Red Wheel Pizza Fundraising: 0.0% · The Alternative Board: 23.1%
Larger system & brand presence
Tie
Red Wheel Pizza Fundraising: 4 units · The Alternative Board: 13 units
More lender financing options
The Alternative Board
Red Wheel Pizza Fundraising: 5 unique lenders · The Alternative Board: 9 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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Red Wheel Pizza Fundraising vs The Alternative Board: Franchise Funding Comparison
Comparing Red Wheel Pizza Fundraising and The Alternative Board is about more than brand preference. It's about which franchise fits your financial profile and funding strategy. Investment ranges from $22K to $940K.
Red Wheel Pizza Fundraising has 7 SBA loans on record and The Alternative Board has 13. 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.
Red Wheel Pizza Fundraising vs The Alternative Board, Frequently Asked Questions
Which is a better franchise investment, Red Wheel Pizza Fundraising or The Alternative Board?
How much does a Red Wheel Pizza Fundraising franchise cost compared to The Alternative Board?
Can I finance Red Wheel Pizza Fundraising or The Alternative Board with an SBA loan?
Which has a lower SBA default rate, Red Wheel Pizza Fundraising or The Alternative Board?
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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