I looked around online & there's a franchise for sale for $50,000 in Imperial Valley, CA. He claims gross revenues of $200,000 with 4 employees. They seem to take 6% of the gross plus 2% for advertising (national).
It looks like they get $16,000/year and he's left with $184,000 for 4 employee salaries, benefits, depreciation, repairs, maintenance, taxes and licenses, interest expense and possibly his own local advertising.
He claims the two vans included in the deal are worth the $50,000. If that's true he isn't placing any value on the franchise.