Franopolis

    Culver Franchising System

    Franchise research report · reviewed 2026 disclosure data

    Reviewed sources

    Culver’s restaurants serve burgers, sandwiches, salads, dinners, frozen custard desserts and beverages in a quick-service casual dining setting. Franchisees provide drive-thru, carryout and on-site dining using the brand’s recipes, service standards and restaurant design.

    Save Territory check Compare Website

    Headline figures

    Culver Franchising System quick facts

    Is Culver Franchising System a franchise?
    Yes. Culver Franchising System offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 1,034 franchised and 7 company-owned outlets (2026 FDD, Item 20, PDF p. 49).
    How much does it cost to open a Culver Franchising System franchise?
    The Culver Franchising System Franchise Disclosure Document reports separate estimated initial investments by format: $3,406,350–$10,294,100 for totals (2026 FDD, Item 7, PDF p. 15); $2,642,500–$8,573,000 for totals (see note 13) (2025 FDD, Item 7, PDF p. 16). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    Does Culver Franchising System disclose financial performance (Item 19)?
    Yes. The Culver Franchising System FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 41). Figures apply only to the locations and period each one covers. Details
    How many Culver Franchising System locations are there?
    The FDD reports 1,041 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 49). Existing locations do not indicate territory availability. Details
    Is Culver Franchising System 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. 1Opening costs are estimated at $3,406,350 – $10,294,100 in the 2026 FDD (Item 7); several initial fee options apply.
    2. 2Item 19 covers 45 separate groups: revenue for 988 locations; costs and profit and other measures for 7 locations; revenue for 975 locations; revenue for 151 locations; revenue for 118 locations; revenue for 73 locations; revenue for 206 locations; revenue for 139 locations; revenue for 121 locations; revenue for 53 locations; revenue for 20 locations; revenue for 87 locations; revenue for 64 locations; revenue for 712 locations; revenue for 35 locations; revenue for 82 locations; revenue for 975 locations; revenue for 263 locations; revenue for 104 locations; revenue for 177 locations; revenue for 7 locations; revenue for 145 locations; revenue for 99 locations; revenue for 221 locations; revenue for 64 locations; revenue for 102 locations; revenue for 27 locations; revenue for 18 locations; revenue for 114 locations; revenue for 41 locations; revenue for 48 locations; revenue for 110 locations; revenue for 84 locations; revenue for 92 locations; revenue for 123 locations; revenue for 87 locations; revenue for 257 locations; revenue for 15 locations; revenue for 17 locations; revenue for 84 locations; revenue for 151 locations; revenue for 71 locations; revenue for 199 locations; revenue for 199 locations; revenue for 102 locations. They are not combined.
    3. 3Outlets grew by 44 in 2025, to 1,041 (Systemwide, as labeled in the FDD, Item 20).

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

    Compare outlet trendsPut Item 20 counts side by side with up to 3 other brands.

    Culver Franchising System head-to-head

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

    Culver Franchising SystemVSSubway
    Compare head-to-head
    Culver Franchising SystemVSLittle Caesars
    Compare head-to-head
    Culver Franchising SystemVSWingstop
    Compare head-to-head
    Culver Franchising SystemVSSonic Drive-In
    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

    Total estimated initial investment

    2026 FDD · Item 7 · PDF p. 15

    Ongoing Fees — Item 6

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

    27 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?

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

    988 locations

    Revenue · 988 locations

    Who is counted
    Franchised Culver’s Restaurants open for the entire 12-month period ended December 31, 2025
    Period
    franchised restaurants, 2025
    Excluded
    The FDD excludes 45 franchised restaurants opened in 2025, one temporarily closed for relocation, and one location closed in 2025. Non-typical locations are included in this Part 1 disclosure.
    Method
    Annual performance; information not audited; franchised data not independently verified.

    These groups are never combined.

    Outlet Changes — Item 20

    How has the outlet count changed?

    Systemwide, as labeled in the FDD · counts as of Year-end of each year.

    2026 FDD · Item 20 · PDF p. 49

    Net +149 outlets, 2022–2025

    089220221,88820231,99420241,0412025+996+106−953

    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 ($3,406,350 – $10,294,100) 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 997 to 1,041 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]Estimated initial investment — Item 7 · PDF p. 15
    2. [2]Item 19 — Locations counted not stated in the reviewed record — Franchised Culver’s Restaurants open for the entire 12-month period ended Decem… · PDF p. 37
    3. [3]Item 19 — Locations counted not stated in the reviewed record — Seven company-owned Culver’s Restaurants open for the full 12-month period ende… · PDF p. 38
    4. [4]Item 19 — Locations counted not stated in the reviewed record — Franchised Culver’s Restaurants included in Part 2 and open for the entire 12-m… · PDF p. 41
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Franchised restaurants with a population of Average sales — population within 3… · PDF p. 42
    6. [6]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 40,000 to 49,999 people within a 3-mile radius · PDF p. 42
    7. [7]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 60,000 to 69,999 people within a 3-mile radius · PDF p. 42
    8. [8]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $60,000–$69,999 within a 3-… · PDF p. 44
    9. [9]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $80,000–$89,999 within a 3-… · PDF p. 44
    10. [10]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 30,000–39,999 employees within a 3-mile radius duri… · PDF p. 47
    11. [11]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 50,000–59,999 employees within a 3-mile radius duri… · PDF p. 47
    12. [12]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 80,000 or more employees within a 3-mile radius dur… · PDF p. 47
    13. [13]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 35 to 39 eating places within a 1-mile radius durin… · PDF p. 48
    14. [14]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 40 to 44 eating places within a 1-mile radius durin… · PDF p. 48
    15. [15]Item 19 — Locations counted not stated in the reviewed record — Franchised Culver’s restaurants not within 1/2 mile of an interstate entrance o… · PDF p. 41
    16. [16]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 80,000 to 89,999 people within a 3-mile radius · PDF p. 42
    17. [17]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 5 to 9 eating places within a 1-mile radius during… · PDF p. 48
    18. [18]Item 19 — Locations counted not stated in the reviewed record — Franchised Culver’s Restaurants open during the entire 12-month period ending D… · PDF p. 41
    19. [19]Item 19 — Locations counted not stated in the reviewed record — Franchised Culver’s restaurants within 1/2 mile of an interstate entrance or ex… · PDF p. 41
    20. [20]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $50,000–$59,999 within a 3-… · PDF p. 44
    21. [21]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $70,000–$79,999 within a 3-… · PDF p. 44
    22. [22]Item 19 — Locations counted not stated in the reviewed record — Seven company-owned Culver’s Restaurants listed in Table 2, open for the entire… · PDF p. 38
    23. [23]Item 19 — Locations counted not stated in the reviewed record — Franchised restaurants with a population of Average sales — population within 3… · PDF p. 42
    24. [24]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 10 to 14 eating places within a 1-mile radius durin… · PDF p. 48
    25. [25]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with fewer than 10,000 employees within a 3-mile radius… · PDF p. 47
    26. [26]Item 19 — Locations counted not stated in the reviewed record — Franchised restaurants with a population of 10,000 people within a 3-mile radius · PDF p. 42
    27. [27]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 50,000 to 59,999 people within a 3-mile radius · PDF p. 42
    28. [28]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income under $50,000 within a 3-mi… · PDF p. 44
    29. [29]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 60,000–69,999 employees within a 3-mile radius duri… · PDF p. 47
    30. [30]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with under 10,000 people within a 3-mile radius · PDF p. 42
    31. [31]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 90,000 to 99,999 people within a 3-mile radius · PDF p. 42
    32. [32]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 70,000 to 79,999 people within a 3-mile radius · PDF p. 42
    33. [33]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 15 to 19 eating places within a 1-mile radius durin… · PDF p. 48
    34. [34]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 100,000 or more people within a 3-mile radius · PDF p. 42
    35. [35]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 30 to 34 eating places within a 1-mile radius durin… · PDF p. 48
    36. [36]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 20 to 24 eating places within a 1-mile radius durin… · PDF p. 48
    37. [37]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $90,000–$99,999 within a 3-… · PDF p. 44
    38. [38]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 10,000–19,999 employees within a 3-mile radius duri… · PDF p. 47
    39. [39]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 70,000–79,999 employees within a 3-mile radius duri… · PDF p. 47
    40. [40]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with fewer than 5 eating places within a 1-mile radius d… · PDF p. 48
    41. [41]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $100,000–$109,999 within a… · PDF p. 44
    42. [42]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with median household income $110,000 or more within a 3… · PDF p. 44
    43. [43]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 40,000–49,999 employees within a 3-mile radius duri… · PDF p. 47
    44. [44]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 20,000–29,999 employees within a 3-mile radius duri… · PDF p. 47
    45. [45]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 45 or more eating places within a 1-mile radius dur… · PDF p. 48
    46. [46]Item 19 — Locations counted not stated in the reviewed record — franchised restaurants with 25 to 29 eating places within a 1-mile radius durin… · PDF p. 48
    47. [47]Outlet counts — Item 20, Table 1 · PDF p. 49

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

    Territory & operations

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

    Legal & agreement

    Franchisor financial statements

    Fiscal yearMeasureReported value
    2025total current assets$154,474,338
    2025total current liabilities$57,764,999
    2025franchise revenue$305,625,185
    2025cash and cash equivalents, ending$115,296,047
    2025total assets$174,874,784
    2025total liabilities$91,692,608
    2025company restaurant sales$32,080,396
    2025advertising$125,189,936
    2025net cash flows from operating activities$133,855,243
    2025net cash flows from investing activities-$2,632,669
    2025net change in cash and cash equivalents$39,222,574
    2025member's equity$83,182,176

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

    What changed from 2025 to 2026

    • Estimated initial investment: $2,642,500 – $8,573,000 → $3,406,350 – $10,294,100
    • Franchise fee: $45,000 → $65,000
    • System size: 1,994 → 1,041 units

    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.

    SubwayLittle CaesarsWingstopSonic Drive-InFive GuysDomino's Pizza

    Head-to-head comparisons

    Culver Franchising System vs SubwayCulver Franchising System vs Little CaesarsCulver Franchising System vs WingstopCulver Franchising System vs Sonic Drive-InCulver Franchising System vs Five GuysCulver Franchising System vs Domino's Pizza
    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. 46 · 2025 FDD

      Our summary: Company-Owned 2024: 7 → 7

      “Company-Owned 2024 7 7”

      Note: The cited page/source did not unambiguously support the extracted figure; no correction was made without a definitive exact quote.

    • Item 20 · PDF p. 46 · 2025 FDD

      Our summary: Franchised 2023: 886 → 937

      “Franchised 2023 886 937”

      Note: The cited page/source did not unambiguously support the extracted figure; no correction was made without a definitive exact quote.

    • Item 20 · PDF p. 46 · 2025 FDD

      Our summary: Company-Owned 2023: 6 → 7

      “Company-Owned 2023 6 7”

      Note: The cited page/source did not unambiguously support the extracted figure; no correction was made without a definitive exact quote.

    • Item 20 · PDF p. 46 · 2025 FDD

      Our summary: Franchised 2024: 937 → 990

      “Franchised 2024 937 990”

      Note: The cited page/source did not unambiguously support the extracted figure; no correction was made without a definitive exact quote.

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

    Compare Culver Franchising System with…

    VS