Franopolis

    Buffalo Wild Wings

    Franchise research report · reviewed 2026 disclosure data

    Reviewed sources
    Franchising since
    1992
    Source: franchise.org
    Headquarters
    Minneapolis, MN United States
    Source: franchise.org

    Buffalo Wild Wings serves chicken wings and other restaurant menu items. Its Buffalo Wild Wings GO format focuses on takeout and delivery, with orders placed online or through the brand's app.

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    Headline figures

    Buffalo Wild Wings quick facts

    Is Buffalo Wild Wings a franchise?
    Yes. Buffalo Wild Wings offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 743 franchised and 654 company-owned outlets (2026 FDD, Item 20, PDF p. 81).
    How much does it cost to open a Buffalo Wild Wings franchise?
    The Buffalo Wild Wings Franchise Disclosure Document reports separate estimated initial investments by format: $2,669,745–$3,400,020 for new freestanding or nontraditional — as incurred as incurred approved suppliers total building/construction/ equipment (2026 FDD, Item 7, PDF p. 39); $2,224,745–$3,400,020 for conversion only (nonfreestanding or existing freestanding conversion — as incurred as incurred approved suppliers total building/construction/ equipment) (2026 FDD, Item 7, PDF p. 39); $213,000–$916,500 for conversion only (nonfreestanding or existing freestanding conversion — as arranged as arranged your attorneys, financial advisors, accountants and other professionals total pre-opening / operating deposits) (2026 FDD, Item 7, PDF p. 40); $2,896,445–$4,500,320 for new freestanding or nontraditional — total estimated initial investment (16)(17) (2026 FDD, Item 7, PDF p. 40); $2,463,945–$4,500,320 for conversion only (nonfreestanding or existing freestanding conversion — total estimated initial investment (16)(17)) (2026 FDD, Item 7, PDF p. 40); $31,200–$76,000 for totalsiteapprovalfranchisefees (2026 FDD, Item 7, PDF p. 37); $254,245–$919,500 for totalbuildingconstructionequipment (2026 FDD, Item 7, PDF p. 38); $90,400–$919,500 for preopeningoperatingdepositstotal (2026 FDD, Item 7, PDF p. 38); $375,845 for totaldevelopmentplusfirstrestaurantinvestment (2026 FDD, Item 7, PDF p. 39); $375,845–$919,500 for totalinitialinvestment (2026 FDD, Item 7, PDF p. 38). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Buffalo Wild Wings charge?
    The disclosed ongoing royalty is 5% (2026 FDD, Item 6, PDF p. 31). The brand or advertising fund contribution is $15,000 (2026 FDD, Item 6, PDF p. 29). Other recurring fees are listed in Item 6. Details
    Does Buffalo Wild Wings disclose financial performance (Item 19)?
    Yes. The Buffalo Wild Wings FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 79). Figures apply only to the locations and period each one covers. Details
    How many Buffalo Wild Wings locations are there?
    The FDD reports 219 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 81). Existing locations do not indicate territory availability. Details
    Is Buffalo Wild Wings a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: Item 19 includes financial performance figures; check which locations and period they cover; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1The 2026 FDD (Item 7) estimates opening costs separately by format: $2,669,745 – $3,400,020 (New freestanding or nontraditional — As incurred As incurred Approved suppliers Total Building/Construction/ Equipment); $2,224,745 – $3,400,020 (Nonfreestanding or existing freestanding conversion — As incurred As incurred Approved suppliers Total Building/Construction/ Equipment); $213,000 – $916,500 (Nonfreestanding or existing freestanding conversion — As arranged As arranged Your attorneys, financial advisors, accountants and other professionals Total Pre-Opening / Operating Deposits); $2,896,445 – $4,500,320 (New freestanding or nontraditional — Total Estimated Initial Investment (16)(17)); $2,463,945 – $4,500,320 (Nonfreestanding or existing freestanding conversion — Total Estimated Initial Investment (16)(17)); $31,200 – $76,000 (Totalsiteapprovalfranchisefees); $254,245 – $919,500 (Totalbuildingconstructionequipment); $90,400 – $919,500 (Preopeningoperatingdepositstotal); $375,845 (Totaldevelopmentplusfirstrestaurantinvestment); $375,845 – $919,500 (Totalinitialinvestment); several initial fee options apply.
    2. 2Item 19 covers 12 separate groups: other measures for 133 Franchised locations; other measures for 133 Franchised locations; other measures for 133 Franchised locations; other measures for 133 Franchised locations; other measures for 532 Franchised locations; other measures for 532 Franchised locations; other measures for 19 Franchised locations; other measures for 23 Franchised locations; other measures for 22 Franchised locations; other measures for 24 Franchised locations; other measures for 88 Franchised locations; other measures for 88 Franchised locations. They are not combined.
    3. 3Outlets grew by 74 in 2025, to 1,397 (United States, as labeled in the FDD, Item 20).

    From reviewed FDD figures only. Not a recommendation or projection.

    Franchises under $50kOther brands whose disclosed Item 7 low end fits this budget.Compare outlet trendsPut Item 20 counts side by side with up to 3 other brands.

    Buffalo Wild Wings head-to-head

    Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.

    Buffalo Wild WingsVSIHOP
    Compare head-to-head
    Buffalo Wild WingsVSApplebee's Neighborhood Grill + Bar
    Compare head-to-head
    Buffalo Wild WingsVSBrinker International Payrollmpany L P
    Compare head-to-head
    Buffalo Wild WingsVSGolden Corral
    Compare head-to-head

    Costs · Items 5–7

    What does it cost to open?

    Estimated opening costs and the fees payable to the franchisor.

    Startup Investment — Item 7

    Range across 10 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (10)

    Each format has its own total. The total depends on the format you choose.

    • TotalsiteapprovalfranchisefeesPDF p. 37$31,200 – $76,000
    • PreopeningoperatingdepositstotalPDF p. 38$90,400 – $919,500
    • Nonfreestanding or existing freestanding conversion — As arranged As arranged Your attorneys, financial advisors, accountants and other professionals Total Pre-Opening / Operating DepositsPDF p. 40$213,000 – $916,500
    • TotalbuildingconstructionequipmentPDF p. 38$254,245 – $919,500
    • TotaldevelopmentplusfirstrestaurantinvestmentPDF p. 39$375,845
    • TotalinitialinvestmentPDF p. 38$375,845 – $919,500
    • Nonfreestanding or existing freestanding conversion — As incurred As incurred Approved suppliers Total Building/Construction/ EquipmentPDF p. 39$2,224,745 – $3,400,020
    • Nonfreestanding or existing freestanding conversion — Total Estimated Initial Investment (16)(17)PDF p. 40$2,463,945 – $4,500,320
    • New freestanding or nontraditional — As incurred As incurred Approved suppliers Total Building/Construction/ EquipmentPDF p. 39$2,669,745 – $3,400,020
    • New freestanding or nontraditional — Total Estimated Initial Investment (16)(17)PDF p. 40$2,896,445 – $4,500,320

    Ongoing Fees — Item 6

    Selected recurring charges; payment bases and conditions remain attached to each fee.

    Royalty grosssalesMain ongoing fee

    109 reported fees, each with its payment basis, are listed below; they haven't been sorted into recurring, initial and occasional groups yet.

    Financial Performance — Item 19

    What results are disclosed—and for which locations?

    12 separate populations, shown apart. Revenue is not owner income.

    133 locations

    Other measures · 133 locations

    Who is counted
    1st Quartile of Full-year franchised Sports Bars, including4nontraditional; no multibrand
    Period
    median AUV
    Excluded
    15new2025,2extendedclosure,4closedin2025 and allcompanyowned excluded
    Method
    AUV=annualgrosssales including offsite insuranceimputed vending license receipts, excludingtax promotions void discounts; franchiseereports/POS, unaudited; noexpenses.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of 2025 of each year.

    2026 FDD · Item 20 · PDF p. 80

    Net +133 outlets, 2023–2025

    01,26420231,32320241,3972025+59+74

    Year-end counts reported in Item 20. The scale starts at zero; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2026 Item 7 estimate ($31,200 – $4,500,320) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Which locations are included in the Item 19 figures, and which were excluded?

    • Reported units went from 1,323 to 1,397 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of Full-year franchised Sports Bars, including4nontraditional; no… · PDF p. 79
    2. [2]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of Full-year franchised Sports Bars, including4nontraditional; no… · PDF p. 79
    3. [3]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of Full-year franchised Sports Bars, including4nontraditional; no… · PDF p. 79
    4. [4]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of Full-year franchised Sports Bars, including4nontraditional; no… · PDF p. 79
    5. [5]Item 19 — Locations counted not stated in the reviewed record — All Sports Bars of Full-year franchised Sports Bars, including4nontraditional;… · PDF p. 79
    6. [6]Item 19 — Locations counted not stated in the reviewed record — Full-year franchised Sports Bars, including4nontraditional; no multibrand · PDF p. 79
    7. [7]Item 19 — Locations counted not stated in the reviewed record — 1st Quartile of BWWGO2025franchised restaurants including4nontraditional, no mu… · PDF p. 79
    8. [8]Item 19 — Locations counted not stated in the reviewed record — 2nd Quartile of BWWGO2025franchised restaurants including4nontraditional, no mu… · PDF p. 79
    9. [9]Item 19 — Locations counted not stated in the reviewed record — 3rd Quartile of BWWGO2025franchised restaurants including4nontraditional, no mu… · PDF p. 79
    10. [10]Item 19 — Locations counted not stated in the reviewed record — 4th Quartile of BWWGO2025franchised restaurants including4nontraditional, no mu… · PDF p. 79
    11. [11]Item 19 — Locations counted not stated in the reviewed record — All Restaurants of BWWGO2025franchised restaurants including4nontraditional, no… · PDF p. 79
    12. [12]Item 19 — Locations counted not stated in the reviewed record — BWWGO2025franchised restaurants including4nontraditional, no multibrand · PDF p. 79
    13. [13]Outlet counts — Item 20, Table 1 · PDF p. 80

    "PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page. Source document: FDD

    Territory & operations

    767 addresses in Franopolis's imported location list. Coverage may differ from Item 20 outlet counts.

    These are contract disclosures, not confirmation that any territory is currently available.

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing$26,203
    2025accounts receivable, netMore than one value recorded for this year — open the FDD source before comparing$67,566
    2025prepaid expenses and other current assetsMore than one value recorded for this year — open the FDD source before comparing$63,787
    2025total current assetsMore than one value recorded for this year — open the FDD source before comparing$157,556
    2025property and equipment, netMore than one value recorded for this year — open the FDD source before comparing$282,132
    2025goodwillMore than one value recorded for this year — open the FDD source before comparing$520,000
    2025intangible assets, netMore than one value recorded for this year — open the FDD source before comparing$1,352,258
    2025operating lease assets, netMore than one value recorded for this year — open the FDD source before comparing$458,807
    2025other assetsMore than one value recorded for this year — open the FDD source before comparing$13,094
    2025total assetsMore than one value recorded for this year — open the FDD source before comparing$2,783,847
    2025current portion of operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing$78,876
    2025current portion of long-term debtMore than one value recorded for this year — open the FDD source before comparing$2,420

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

    Loading…

    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

    Related research

    Brands in the same subcategory first, then the wider industry, ordered by shared business format, overlapping investment range, Item 20 outlet count and search interest. This is not a ranking or recommendation.

    IHOPApplebee's Neighborhood Grill + BarBrinker International Payrollmpany L PGolden CorralHuddle HouseHome Grown Industries Of Georgia

    Head-to-head comparisons

    Buffalo Wild Wings vs IHOPBuffalo Wild Wings vs Applebee's Neighborhood Grill + BarBuffalo Wild Wings vs Brinker International Payrollmpany L PBuffalo Wild Wings vs Golden CorralBuffalo Wild Wings vs Huddle HouseBuffalo Wild Wings vs Home Grown Industries Of Georgia
    Compare reviewed facts

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2023 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2025 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2023 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2025 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2023 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2024 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2024 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2025 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2025 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2025 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2024 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2023 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2023 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2025 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2023 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2023 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2024 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2024 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2024 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2024 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2023 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2025 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2024 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2025 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2025 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2025 — netchange

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2024 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Franchised 2024 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2024 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2023 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2024 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Company-owned 2023 — netchange

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2023 — start

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 81 · 2026 FDD

      Our summary: Table1 Franchised 2025 — end

      “Franchised Outlets 2023 530 533 +3 2024 533 538 +5 2025 538 549 +11 Company- Owned 2023 659 652 - 7 2024 652 645 - 7 2025 645 629 - 1 6 Total Outlets 2023 1189 1185 - 4 2024 1185 1183 - 2 2025 1183 117 8 - 5 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2023 — end

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 80 · 2026 FDD

      Our summary: Table1 Companyowned 2025 — start

      “Franchised Outlets 2023 4 31 +27 2024 31 90 +59 2025 90 194 +104 Company- Owned 2023 37 48 +11 2024 48 50 +2 2025 50 25 -25 Total Outlets 2023 41 79 +38 2024 79 140 +61 2025 140 219 +79 ”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.

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