T-Swirl Crepe
The total investment to open a T-Swirl Crepe franchise ranges from $263,400 to $496,850.
What is the T-Swirl Crepe franchise?
T Swirl Crepe was created to bring Japanese style crepes, distinct from French crepes, to American customers. Chef entrepreneur Jerry Lin, whose given name is Jiantan, and his cousin Andy Lin founded the company in 2014. A Chinese American immigrant with a decade of experience as a hibachi chef, Jerry Lin funded the first location with $200,000 from his own and family funds. The restaurant opened in Flushing, Queens, New York, where Japanese crepes were already familiar among Asian communities. The name refers to the T shaped spreader used for the batter and the swirling motion used to prepare each crepe. T Swirl Crepe began franchising in 2015 and had 33 locations in 14 states by April 2023, including 11 company owned units and 22 franchised units. Jerry Lin projected 43 outlets by the end of 2023. A website copyrighted 2025 describes more than 50 stores nationwide, while a November 2024 article reported 30 United States locations. T Swirl Crepe operates in the Limited Service Restaurant market with a product aimed at customers seeking customizable and less familiar dining options. The global market was valued at USD 823.96 billion in 2024, was projected at USD 871.02 billion for 2025, and is expected to reach USD 1,435.98 billion by 2034, with a CAGR of around 5.7% during 2025 to 2034.
The global Limited Service Restaurant market was estimated at $871.02 billion in 2025 and is projected to reach approximately $1436 billion by 2034, with a CAGR of 5.7%. Another estimate places growth at a 5.71% CAGR from 2025 to 2035, with the market increasing from $737.31 billion in 2024 to $1214.93 billion by 2032. A separate forecast estimates roughly 5% growth during the 2023 to 2031 period. In the United States, the market is estimated at $97.85 billion in 2025 and projected to reach $133.71 billion by 2030, with a CAGR of 6.45%. The country had over 159,000 Limited Service Restaurant locations as of 2025, representing 80% of consumer spending in the United States food service sector. The Quick Service Restaurant market is projected at $330.56 billion in 2025, compared with $311.54 billion the previous year, and is expected to reach $436.07 billion by 2029 at a CAGR of 7.2%. The fast casual segment is expected to generate $84.5 billion from 2025 to 2029 at a CAGR of 13.7%. Demand is supported by quick service for busy customers, mobile ordering, healthier and more sustainable choices, customizable meals, online ordering, and third party delivery. Delivery sales in the Limited Service Restaurant sector rose over 20% in the past year. Families value affordability and convenience, while Millennials and Generation Z place greater emphasis on customization, sustainability, and digital engagement.
The estimated initial investment for a T Swirl Crepe restaurant is $263,400 to $496,850. This includes an upfront payment to the franchisor or its affiliates of $44,000 to $54,600, which likely includes the initial franchise fee. Food and Beverage franchise fees generally range from $11,549 to $16,834, while Quick Service Restaurant fees commonly range from $6,250 to $90,000. The total investment varies with the market, site size and condition, new construction or conversion, construction costs, and permitting requirements. Applicants must have at least $150,000 in liquid assets. The company does not provide direct financing, so franchisees must arrange funding through their preferred lenders or financial institutions. Specific T Swirl Crepe royalty and advertising fund rates are not provided. The company was organized as a limited liability company under New Jersey law on October 18, 2016. Its principal business address is 244 Main Street, Fort Lee, New Jersey 07024. Jerry Lin is the founder and chef entrepreneur, and the available information does not identify a parent company or a specific chief executive title.
Franchise operations center on preparing sweet and savory Japanese style crepes and specialty teas according to brand standards. Staff handle customer service, orders, crepe preparation with the T shaped spreader and swirling method, and kitchen cleanliness. The available information does not identify drive through or kiosk formats, but locations in New York City, Philadelphia, Houston, and suburban malls indicate that inline retail spaces in high traffic areas can fit the concept. Franchisees must travel to the company headquarters in New York City for a month of kitchen training. The program covers preparation methods, product consistency, food safety, and quality control. Additional support includes store operations and staff management training, site selection, market analysis, location review, design guidance, construction or renovation assistance, grand opening support, seasonal promotions, social media asset kits, national marketing, core ingredients, a vendor network, and operating documentation. The number of units a franchisee is expected to develop depends on the region and its market potential. Prospective franchisees are asked to submit a Franchise Inquiry Form to discuss development agreements with the franchise team. The model generally favors active owner operators, while multi unit development is encouraged. Michelle Lin opened her sixth location in Houston, and Lingyan “JoJo” Ye operates three locations in Connecticut.
Michelle Lin opened her sixth franchised T Swirl Crepe location in Houston in January 2024, and Lingyan “JoJo” Ye opened her third in Berlin, Connecticut, in August 2024. The brand operates in the Limited Service Restaurant and fast casual segments. The United States fast casual segment is projected to generate $84.5 billion from 2025 to 2029 at a CAGR of 13.7%. Its specialized Japanese crepes may support premium pricing, while the fast casual format may allow simpler operations. Existing franchisees adding locations provide a qualitative signal of interest in the concept, but buyers should not treat that activity as a substitute for disclosed financial results.
After franchising began in 2015, T Swirl Crepe reached 33 locations in 14 states by April 2023, with 11 company owned units and 22 franchised units. At that time, eight locations were in New York City and thirteen were across New York State. Other reported markets included Philadelphia, Houston, New Haven, Wichita, and Fort Lee, New Jersey. In April 2023, Jerry Lin said he planned to add five company owned and five franchised locations by the end of the year, which would have brought the total to 43 outlets. A November 2024 article reported 30 United States locations, including Berlin, Middletown, New Haven, Fairfield, and the Danbury Mall. The website copyrighted 2025 states more than 50 stores nationwide. Michelle Lin opened her sixth franchised location in Houston, Texas, in January 2024. The store occupies 1400 square feet within a new 90,000 square foot development. Lingyan “JoJo” Ye opened her third location in Berlin, Connecticut, in August 2024, following a New Haven location opened in 2018 and a Middletown unit opened in 2023. The concept is differentiated by Japanese style crepes, which have a different texture and flavor profile from more common French crepes. Its first location in Flushing, Queens, connected the product with an existing Asian community customer base. The fast casual format addresses demand for convenience and distinctive food. Specific information about digital transformation, delivery integration, and sustainability initiatives was not provided, although online ordering and third party delivery are common industry responses to customer demand.
A suitable franchise candidate would bring entrepreneurial drive, organization, leadership, and a willingness to work closely with operations. Prior restaurant experience is not specifically required, but applicants must complete the month long kitchen program at the New York City headquarters and learn the crepe preparation process, product standards, staff management, and food safety procedures. The system generally favors a hands on owner operator, at least at the beginning. There is no stated multi unit requirement, although Michelle Lin's six locations and Lingyan “JoJo” Ye's three locations show that qualified operators can expand beyond one unit. The business operates in the United States, with a significant concentration in New York State, where there were thirteen locations, including eight in New York City, as of April 2023. Other named markets include Philadelphia in Pennsylvania, Houston in Texas, New Haven, Middletown, Berlin, Fairfield, and the Danbury Mall in Connecticut, Wichita in Kansas, and Fort Lee in New Jersey. The first Flushing location suggests that diverse markets with interest in international cuisine may fit the concept, while expansion across 14 states indicates broader appeal. Prospective franchisees can submit a Franchise Inquiry Form to discuss territories and development agreements based on regional potential.
T Swirl Crepe combines a specialized Japanese style crepe product with a fast casual operating model. The fast casual segment is projected to generate $84.5 billion from 2025 to 2029 at a CAGR of 13.7%. The initial investment is $263,400 to $496,850, and the liquid asset requirement is $150,000. The brand grew from its founding in 2014 to 33 locations across 14 states by April 2023, while Michelle Lin and Lingyan “JoJo” Ye have continued to add units. The month long training program and stated support in operations, site selection, construction, marketing, and supply chain management are relevant parts of that review. PeerSense is a commercial capital advisory firm that introduces franchise buyers to SBA and conventional lenders. It does not lend, fund, or approve loans. Its research resources include SBA lending history, a Loan Activity Score, location maps with Google ratings, FDD financial data, and comparison tools.
Loan Activity Score
51/100
SBA Default Rate
0.0%
Active Lenders
2
According to its Franchise Disclosure Document or public business records, T-Swirl Crepe has 3 locations, all owned by franchisees. Public SBA loan records show 2 lenders made 3 loans to franchisees of T-Swirl Crepe. PeerSense calculates T-Swirl Crepe's score as 51 out of 100, using public SBA loan performance and recent lending activity.
Franchising since 2014 · 3 locations
$263,400 to $496,850
3
3 franchised
Proprietary PeerSense metric
ModerateDistinct lenders in public SBA records for T-Swirl Crepe
3
Total SBA loans
$266K
Average loan size
Source: public SBA 7(a) and 504 loan records through December 31, 2025
Referral fee at closing
SBA Lending Activity for T-Swirl Crepe
Loan Activity Score Breakdown
Emerging (3 to 9 loans)
Are lenders increasingly or decreasingly funding this brand? Growing trends score highest.
Blended default rate (recent + all time) compared to NAICS sector peers.
Quality lenders actively backing this brand, with penalty for lender pullback.
FDD availability, Item 19 disclosure, and overall data completeness.
Geographic spread of SBA funded locations across states.
SBA Lending Performance
SBA Default Rate
0.0%
vs 10.3% peer avg
SBA Loans
3
Total Volume
$0.8M
Active Lenders
2
States
2
vs. SBA Sector Average
SBA loan default rate vs. all franchises in the same NAICS sector, not limited to direct competitors
Key Highlights
Franchise Financing Resources
Data Insights
Key performance metrics for T-Swirl Crepe based on SBA lending data
SBA Default Rate
0.0%
10.3% below peer avg
SBA Loan Volume
3 loans
Across 2 lenders
Lender Diversity
2 lenders
Avg 1.5 loans per lender
Investment Tier
Significant investment
$263,400 to $496,850 total
T-Swirl Crepe: Deep SBA Data
Brand specific metrics derived directly from SBA 7(a) approval records: peak lending year, leading state, average loan size, and lender concentration. PeerSense computes these per brand so capital advisors and prospective franchisees can benchmark this opportunity against the rest of the franchise universe.
Peak SBA Year
2023
2 approvals. The best year on record for T-Swirl Crepe.
Top SBA State
Louisiana
2 SBA financed T-Swirl Crepe locations, the densest operator footprint.
Average Loan Size
$266K
Median $300K. Use as a sizing anchor when modeling your own T-Swirl Crepe unit.
Lender Concentration
100%
Concentrated
Share of T-Swirl Crepe approvals captured by the top 3 SBA lenders.
T-Swirl Crepe's SBA lending pipeline peaked in 2023 (2 approvals). The last five fiscal years account for 100% of cumulative volume ($799K approved). Operator density is highest in Louisiana with 2 SBA financed locations. Average funded ticket sits at $266K, with the median at $300K. Lender mix is concentrated: the top three SBA lenders account for 100% of approvals. Credit decisions concentrate with a small group of incumbents.
Payment Estimator
Estimated Monthly Payment
$2,727
Principal & Interest only
Indicative only, as of October 1, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense sources the file. The lender sets pricing. What these terms mean.
Locations
T-Swirl Crepe, unit breakdown
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Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; it does not lend, fund, or approve loans, and 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