Franopolis
    FG

    Five Guys

    Franchise research report · reviewed 2026 disclosure data

    Researching Five Guys franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources

    FIVE GUYS franchise has built a cult following for its fresh, never-frozen beef burgers and hand-cut fries, establishing itself as a premium fast-casual dining

    Headline figures

    Quick facts

    How much does it cost to open a Five Guys franchise?
    The Five Guys Franchise Disclosure Document reports separate estimated initial investments by format: $927,850 for 3 months (14) $20,000 to $25,000 as arranged as incurred various vendors total (15) — 927850 (2026 FDD, Item 7, PDF p. 20); $52,100 for us transportation expenses (3) $2,100 as arranged as incurred various vendors total — 52100 (2026 FDD, Item 7, PDF p. 22); $127,100 for ses (3) $2,100 as arranged as incurred various vendors total $52,100 per restaurant ( — 127100 (2026 FDD, Item 7, PDF p. 22). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What is the Five Guys initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $25,000 (2026 FDD, Item 5, PDF p. 15). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does Five Guys charge?
    The disclosed ongoing royalty is $8 (2026 FDD, Item 6, PDF p. 16). The brand or advertising fund contribution is $250 (2026 FDD, Item 6, PDF p. 16). Other recurring fees are listed in Item 6. Details
    Does Five Guys disclose financial performance (Item 19)?
    No. The reviewed Five Guys FDD states that it does not make a financial performance representation in Item 19. Details
    How many Five Guys locations are there?
    The FDD reports 3,166 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 54). Existing locations do not indicate territory availability. Details

    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: $927,850 (3 months (14) $20,000 to $25,000 As Arranged As Incurred Various Vendors TOTAL (15) — 927850); $52,100 (Us Transportation Expenses (3) $2,100 As Arranged As Incurred Various Vendors TOTAL — 52100); $127,100 (ses (3) $2,100 As Arranged As Incurred Various Vendors TOTAL $52,100 per Restaurant ( — 127100); several initial fee options apply.
    2. 2The franchisor makes no financial performance representation in Item 19.
    3. 3Outlets grew by 50 in 2025, to 3,166 (UnitedStatesandCanada, as labeled in the FDD, Item 20).

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

    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 3 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (3)

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

    • Us Transportation Expenses (3) $2,100 As Arranged As Incurred Various Vendors TOTAL — 52100PDF p. 22$52,100
    • ses (3) $2,100 As Arranged As Incurred Various Vendors TOTAL $52,100 per Restaurant ( — 127100PDF p. 22$127,100
    • 3 months (14) $20,000 to $25,000 As Arranged As Incurred Various Vendors TOTAL (15) — 927850PDF p. 20$927,850

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 15
    Discounted and multi-unit options are separate; see all fees.

    Ongoing Fees — Item 6

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

    s. If the Restaurant is located in Alaska, Hawaii or Puerto Rico, the Royalty Fee is — 8%Main ongoing fee

    34 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?

    No financial performance representation in Item 19

    The reviewed 2026 FDD for Five Guys has no Item 19 figures on record. Franopolis does not estimate revenue or earnings in their place; ask the franchisor and current owners what unit-level information they can share.

    Outlet Changes — Item 20

    How has the outlet count changed?

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

    2026 FDD · Item 20 · PDF p. 54

    Net +124 outlets, 2023–2025

    03,04220233,11620243,1662025+74+50

    Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; 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 ($52,100 – $927,850) vary most by market, and why?

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

    • Five Guys reports no financial performance figures in Item 19. What information can you share about unit-level results?

    • Reported units went from 3,116 to 3,166 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?

    • 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]Standard initial franchise fee — Item 5 · PDF p. 15
    2. [2]Outlet counts — Item 20, Table 1 · PDF p. 54

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

    Territory & operations

    1,167 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
    2026accounts payableMore than one value recorded for this year — open the FDD source before comparing$19,979,162
    2026accumulated other comprehensive income-$4,471,647
    2026collections of related party advances and other$4,450,184
    2026other receivablesMore than one value recorded for this year — open the FDD source before comparing$1,782,713
    2026deferred compensation liability$163,055,934
    2026creative fund revenue$28,829,061
    2026total current liabilities$398,352,972
    2026restaurant sales$476,925,851
    2026royalty fees$59,643,033
    2026current portionMore than one value recorded for this year — open the FDD source before comparing$4,129,799
    2026total other expense-$25,034,061
    2026amortization of lease assets$31,285,533
    2026general and administrative$106,930,635
    2026accrued expenses and other current liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$3,386,093
    2026deferred compensation distributions$478,662
    2026interest expense-$27,701,469
    2026creative fund receivable$8,584,019
    2026equity method investment-$1,039,150
    2026net of current portionMore than one value recorded for this year — open the FDD source before comparing$33,751,318
    2026netMore than one value recorded for this year — open the FDD source before comparing$11,396,281
    2026goodwill$95,126,141
    2026other assetsMore than one value recorded for this year — open the FDD source before comparing$9,417,086
    2026total other assets$423,501,165
    2026total$735,796,359
    2026current portionMore than one value recorded for this year — open the FDD source before comparing$1,431,073
    2026current portionMore than one value recorded for this year — open the FDD source before comparing$63,145,625
    2026embedded derivative liability$213,807,877
    2026accrued expenses and other current liabilitiesMore than one value recorded for this year — open the FDD source before comparing$65,386,187
    2026accrued payroll and related taxesMore than one value recorded for this year — open the FDD source before comparing$30,202,323
    2026related-party payables$270,926
    2026cash and cash equivalents$72,239,104
    2026restricted cash$52,336,771
    2026netMore than one value recorded for this year — open the FDD source before comparing$16,360,017
    2026other receivablesMore than one value recorded for this year — open the FDD source before comparing$9,406,364
    2026current portion, net$9,978,777
    2026inventoryMore than one value recorded for this year — open the FDD source before comparing$5,752,337
    2026prepaid expenses and other current assetsMore than one value recorded for this year — open the FDD source before comparing$23,393,332
    2026total current assets$189,466,702
    2026netMore than one value recorded for this year — open the FDD source before comparing$122,828,492
    2026finance lease assets$6,511,946
    2026operating lease assets$247,687,788
    2026long-term investmentsMore than one value recorded for this year — open the FDD source before comparing$19,610,605
    2026net of current maturities$860,270,074
    2026net of current portionMore than one value recorded for this year — open the FDD source before comparing$16,002,010
    2026net of current portionMore than one value recorded for this year — open the FDD source before comparing$205,011,421
    2026net of current portionMore than one value recorded for this year — open the FDD source before comparing$37,267,544
    2026other liabilitiesMore than one value recorded for this year — open the FDD source before comparing$20,371,289
    2026total other liabilities$1,301,978,272
    2026additional paid-in capital$27,777,463
    2026accumulated deficit-$913,411,885
    2026total stockholders’ deficit-$964,534,885
    2026bakery sales$33,419,456
    2026development fees$1,178,299
    2026franchise fees$546,138
    2026other revenue$2,703,952
    2026total revenue$603,245,790
    2026food, beverage, and shipping$140,895,446
    2026labor$164,647,147
    2026occupancy$47,126,372
    2026other operating costs$101,966,730
    2026creative fund expense$26,473,837
    2026total operating expenses$588,040,167
    2026income from operations$15,205,623
    2026interest income$3,076,582
    2026other expense-$409,174
    2026loss before income tax expense-$9,828,438
    2026total income tax expense$39,375
    2026net loss-$9,867,813
    2026depreciation and amortization$27,777,368
    2026amortization of debt issuance costs$2,133,649
    2026loss on property and equipment disposal$185,162
    2026equity method loss$506,437
    2026deferred compensation expense$1,094,371
    2026accounts receivable$8,715,549
    2026inventoryMore than one value recorded for this year — open the FDD source before comparing-$640,374
    2026prepaid expenses and other current assetsMore than one value recorded for this year — open the FDD source before comparing-$5,119,784
    2026other assetsMore than one value recorded for this year — open the FDD source before comparing$790,071
    2026long-term investmentsMore than one value recorded for this year — open the FDD source before comparing-$888,011
    2026operating lease liabilities-$33,071,368
    2026accounts payableMore than one value recorded for this year — open the FDD source before comparing-$1,290,122
    2026accrued payroll and related taxesMore than one value recorded for this year — open the FDD source before comparing-$3,359,522
    2026deferred revenue-$1,838,728
    2026other liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$11,115
    2026net cash provided by operating activities$23,381,942
    2026deferred compensation contributions-$289,604
    2026purchases of property and equipment-$7,296,903
    2026advances to related parties-$1,386,791
    2026net cash used in investing activities-$5,083,602
    2026repayments of finance lease liabilities-$398,667
    2026proceeds from line of credit$5,000,000
    2026repayment of long-term debt-$4,250,000
    2026purchase of treasury stock-$891,560
    2026net cash used in financing activities-$540,227
    2026net change in cash, cash equivalents, and restricted cash$17,758,113
    2026net effect of exchange rates on cash, cash equivalents, and restricted cash-$642,122
    2026beginning$107,459,884
    2026end$124,575,875
    2025addi ti ona l pa i d-i n ca pi ta l$27,778
    2025deferred compens a ti on l i a bi l i ty$163,056
    2025current porti onMore than one value recorded for this year — open the FDD source before comparing$58,733
    2025gain$125,948
    2025accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$7,489
    2025current ma turi ti es of l ong-term debt$8,348
    2025current porti onMore than one value recorded for this year — open the FDD source before comparing$4,129
    2025tota l s tockhol ders ’ defi ci t-$951,903
    2025food, beverage, and shipping$255,517
    2025total$760,768
    2025deferred revenue$4,687
    2025total revenue$1,108,523
    2025interest expense-$55,428
    2025long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing-$1,564
    2025prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing$11,459
    2025loss from operations-$52,867
    2025sa l es of property a nd equi pment$10,297
    2025other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$1,037
    2025other a s s etsMore than one value recorded for this year — open the FDD source before comparing$9,874
    2025embedded deri va ti ve l i a bi l i ty$213,808
    2025tota l current l i a bi l i ti es$407,999
    2025labor$313,602
    2025s tockhol der col l ecti ons$406
    2025res tri cted ca s h$42,134
    2025net of current porti onMore than one value recorded for this year — open the FDD source before comparing$16,750
    2025purcha s es of property a nd equi pment-$26,417
    2025accrued property a nd equi pment purcha s es$938
    2025net effect of exchange rates on cash, cash equivalents, and restricted cash-$3,034
    2025net ca s h-$786
    2025los s on exti ngui s hment of debt$67
    2025net change in cash, cash equivalents, and restricted cash-$12,054
    2025ga i n) l os s on property a nd equi pment di s pos a l-$5,293
    2025income ta xes$264
    2025opera ti ng l ea s e l i a bi l i ti es-$63,719
    2025other income$5,347
    2025total other income$81,895
    2025income$29,028
    2025ca s h a nd ca s h equi va l ents$65,326
    2025netMore than one value recorded for this year — open the FDD source before comparing$25,069
    2025other recei va bl esMore than one value recorded for this year — open the FDD source before comparing$18,819
    2025netMore than one value recorded for this year — open the FDD source before comparing$15,092
    2025inventoryMore than one value recorded for this year — open the FDD source before comparing$5,112
    2025tota l current a s s ets$183,011
    2025netMore than one value recorded for this year — open the FDD source before comparing$132,013
    2025fi na nce l ea s e a s s ets$6,930
    2025opera ti ng l ea s e a s s ets$260,520
    2025long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing$18,379
    2025net of current porti onMore than one value recorded for this year — open the FDD source before comparing$32,235
    2025netMore than one value recorded for this year — open the FDD source before comparing$14,080
    2025goodwi l l$103,726
    2025tota l other a s s ets$445,744
    2025current porti onMore than one value recorded for this year — open the FDD source before comparing$758
    2025accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing$21,269
    2025accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$67,171
    2025accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing$33,563
    2025rel a ted-pa rty pa ya bl es$220
    2025net of current ma turi ti es$849,038
    2025net of current porti onMore than one value recorded for this year — open the FDD source before comparing$217,439
    2025net of current porti onMore than one value recorded for this year — open the FDD source before comparing$39,107
    2025other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$19,282
    2025tota l other l i a bi l i ti es$1,304,672
    2025accumul a ted defi ci t-$902,314
    2025accumul a ted other comprehens i ve l os s-$3,830
    2025restaurant sales$871,661
    2025bakery sales$67,075
    2025royalty fees$113,424
    2025development fees$2,537
    2025franchise fees$1,157
    2025other revenue$4,577
    2025creative fund revenue$48,092
    2025occupancy$95,709
    2025other operating costs$211,453
    2025general and administrative$240,534
    2025creative fund expense$44,575
    2025total operating expenses$1,161,390
    2025interest income$6,095
    2025loss on extinguishment of debt-$67
    2025total income tax expense$2,343
    2025net income$26,685
    2025foreign currency translation adjustment-$3,034
    2025comprehensive income$23,651
    2025depreci a ti on a nd a morti za ti on$67,976
    2025amorti za ti on of debt i s s ua nce cos ts$4,274
    2025amorti za ti on of l ea s e a s s ets$67,647
    2025impa i rment of l ong l i ved a s s ets$22,381
    2025ba d debt provi s i on-$413
    2025deferred i ncome ta x benefi t-$28,147
    2025ta x va l ua ti on a l l owa nce$28,147
    2025los s on termi na ti on of bevera ge di s pens er l ea s es$676
    2025equi ty method l os s from la s vega s joi nt venture$681
    2025ga i n) l os s on embedded deri va ti ve l i a bi l i ty-$125,948
    2025deferred compens a ti on expens e$13,053
    2025stock-ba s ed compens a ti on$387
    2025accounts recei va bl e-$6,250
    2025other recei va bl esMore than one value recorded for this year — open the FDD source before comparing-$1,611
    2025crea ti ve fund recei va bl e-$14,683
    2025inventoryMore than one value recorded for this year — open the FDD source before comparing$299
    2025prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing-$3,298
    2025other a s s etsMore than one value recorded for this year — open the FDD source before comparing$543
    2025accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing-$1,702
    2025accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing$5,813
    2025deferred compens a ti on contri buti ons-$854
    2025deferred compens a ti on di s tri buti ons$1,678
    2025equi ty method i nves tment-$3,292
    2025adva nces to rel a ted pa rti es-$7,028
    2025net ca s h us ed i n i nves ti ng a cti vi ti es-$25,616
    2025repa yments of fi na nce l ea s e l i a bi l i ti es-$877
    2025proceeds from l i ne of credi t$25,000
    2025repa yment of l ong-term debt-$8,814
    2025purcha s e of trea s ury s tock-$62
    2025pa yments rel a ted to ta x wi thhol di ng for s tock-ba s ed compens a ti on-$1,305
    2025net ca s h provi ded by$14,348
    2025begi nni ng$122,548
    2025end$107,460
    2025interes t$51,230
    2025accrued di vi dends pa ya bl e to preferred s tockhol ders$4,030
    2025accrued cons tructi on cos ts i ncurred for equi ty method i nves tment$1,371
    2024other revenue$4,702
    2024net income-$103,329
    2024opera ti ng l ea s e a s s ets$260,369
    2024total revenue$1,083,150
    2024netMore than one value recorded for this year — open the FDD source before comparing$21,881
    2024prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing$9,774
    2024addi ti ona l pa i d-i n ca pi ta l$27,391
    2024food, beverage, and shipping$244,937
    2024ta x va l ua ti on a l l owa nce$149,102
    2024embedded deri va ti ve l i a bi l i ty$339,756
    2024deferred compens a ti on contri buti ons-$1,119
    2024general and administrative$214,259
    2024comprehensive income-$104,067
    2024other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$17,175
    2024stockhol der l oa ns-$406
    2024development fees$3,104
    2024ga i n) l os s on property a nd equi pment di s pos a l$364
    2024ba d debt provi s i on-$43
    2024accounts recei va bl e$2,148
    2024other a s s etsMore than one value recorded for this year — open the FDD source before comparing$1,272
    2024net ca s h provi ded by-$3,303
    2024col l ecti ons of rel a ted pa rty a dva nces a nd other$849
    2024other income-$694
    2024total other income-$67,844
    2024income-$102,632
    2024ca s h a nd ca s h equi va l ents$86,707
    2024long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing$13,658
    2024res tri cted ca s h$35,841
    2024netMore than one value recorded for this year — open the FDD source before comparing$18,823
    2024other recei va bl esMore than one value recorded for this year — open the FDD source before comparing$2,960
    2024netMore than one value recorded for this year — open the FDD source before comparing$10,550
    2024inventoryMore than one value recorded for this year — open the FDD source before comparing$5,411
    2024tota l current a s s ets$170,066
    2024netMore than one value recorded for this year — open the FDD source before comparing$181,524
    2024fi na nce l ea s e a s s ets$11,975
    2024net of current porti onMore than one value recorded for this year — open the FDD source before comparing$29,219
    2024goodwi l l$122,964
    2024other a s s etsMore than one value recorded for this year — open the FDD source before comparing$10,708
    2024tota l other a s s ets$470,774
    2024total$822,364
    2024current ma turi ti es of l ong-term debt$9,056
    2024current porti onMore than one value recorded for this year — open the FDD source before comparing$1,036
    2024current porti onMore than one value recorded for this year — open the FDD source before comparing$58,262
    2024accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing$22,972
    2024accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$54,054
    2024accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing$29,053
    2024rel a ted-pa rty pa ya bl es$130
    2024current porti onMore than one value recorded for this year — open the FDD source before comparing$3,411
    2024deferred revenue-$1,205
    2024tota l current l i a bi l i ti es$517,730
    2024net of current ma turi ti es$837,276
    2024net of current porti onMore than one value recorded for this year — open the FDD source before comparing$20,707
    2024net of current porti onMore than one value recorded for this year — open the FDD source before comparing$215,107
    2024net of current porti onMore than one value recorded for this year — open the FDD source before comparing$35,138
    2024deferred compens a ti on l i a bi l i ty$151,486
    2024tota l other l i a bi l i ti es$1,276,889
    2024accumul a ted defi ci t-$924,969
    2024accumul a ted other comprehens i ve l os s-$796
    2024tota l s tockhol ders ’ defi ci t-$972,255
    2024restaurant sales$859,678
    2024bakery sales$65,956
    2024royalty fees$110,029
    2024franchise fees$1,268
    2024creative fund revenue$38,413
    2024labor$305,026
    2024occupancy$98,981
    2024other operating costs$209,579
    2024creative fund expense$45,156
    2024total operating expenses$1,117,938
    2024loss from operations-$34,788
    2024interest income$8,928
    2024interest expense-$55,432
    2024gain-$20,646
    2024total income tax expense$697
    2024foreign currency translation adjustment-$738
    2024depreci a ti on a nd a morti za ti on$76,662
    2024amorti za ti on of debt i s s ua nce cos ts$4,187
    2024amorti za ti on of l ea s e a s s ets$70,774
    2024impa i rment of l ong l i ved a s s ets$8,826
    2024deferred i ncome ta x benefi t-$149,102
    2024ga i n) l os s on embedded deri va ti ve l i a bi l i ty$20,646
    2024deferred compens a ti on expens e-$23,215
    2024stock-ba s ed compens a ti on$17,394
    2024other recei va bl esMore than one value recorded for this year — open the FDD source before comparing$391
    2024crea ti ve fund recei va bl e$242
    2024inventoryMore than one value recorded for this year — open the FDD source before comparing-$835
    2024prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing$2,773
    2024long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing-$1,338
    2024opera ti ng l ea s e l i a bi l i ti es-$64,931
    2024accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing$3,863
    2024accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$5,203
    2024accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing-$2,246
    2024other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing-$430
    2024net ca s h$17,173
    2024redempti on of commerci a l pa per$24,296
    2024deferred compens a ti on di s tri buti ons$233
    2024purcha s es of property a nd equi pment-$50,000
    2024adva nces to rel a ted pa rti es-$2,382
    2024net ca s h us ed i n i nves ti ng a cti vi ti es-$28,123
    2024repa yments of fi na nce l ea s e l i a bi l i ti es-$928
    2024proceeds from l i ne of credi t$10,000
    2024repa yment of l ong-term debt-$213
    2024pa yment of deferred fi na nci ng fees-$1,449
    2024s tockhol der col l ecti ons$63
    2024purcha s e of trea s ury s tock-$6,304
    2024di s tri buti ons-$4,267
    2024pa yments rel a ted to ta x wi thhol di ng for s tock-ba s ed compens a ti on-$205
    2024net change in cash, cash equivalents, and restricted cash-$14,253
    2024net effect of exchange rates on cash, cash equivalents, and restricted cash-$738
    2024begi nni ng$137,539
    2024end$122,548
    2024interes t$51,194
    2024income ta xes$872
    2024accrued property a nd equi pment purcha s es$2,278
    2023general and administrative$253,295
    2023netMore than one value recorded for this year — open the FDD source before comparing$20,867
    2023tota l other l i a bi l i ti es$1,287,742
    2023food, beverage, and shipping$244,603
    2023depreci a ti on a nd a morti za ti on$80,368
    2023netMore than one value recorded for this year — open the FDD source before comparing$188,104
    2023long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing$11,434
    2023accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$49,079
    2023current porti onMore than one value recorded for this year — open the FDD source before comparing$3,173
    2023net of current ma turi ti es$833,426
    2023bakery sales$67,854
    2023other recei va bl esMore than one value recorded for this year — open the FDD source before comparing-$1,185
    2023inventoryMore than one value recorded for this year — open the FDD source before comparing$593
    2023ca s h a nd ca s h equi va l ents$104,790
    2023netMore than one value recorded for this year — open the FDD source before comparing$11,569
    2023stockhol der l oa ns-$469
    2023corpora te hea dqua rters ca pi ta l expendi tures funded by l a ndl ord$5,642
    2023total revenue$1,097,710
    2023repa yments of fi na nce l ea s e l i a bi l i ti es-$691
    2023end$137,539
    2023ga i n) l os s on embedded deri va ti ve l i a bi l i ty-$1,121
    2023repa yment of l ong-term debt-$396,000
    2023purcha s e of trea s ury s tock-$17,798
    2023income-$78,649
    2023amorti za ti on of l ea s e a s s ets$65,971
    2023accounts recei va bl e-$3,998
    2023pa yment of deferred fi na nci ng fees-$12,832
    2023gain$1,121
    2023other income-$2,502
    2023total other income-$36,262
    2023deferred revenue-$2,949
    2023res tri cted ca s h$32,749
    2023short-term i nves tments$24,296
    2023other recei va bl esMore than one value recorded for this year — open the FDD source before comparing$3,378
    2023inventoryMore than one value recorded for this year — open the FDD source before comparing$4,576
    2023prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing$10,977
    2023tota l current a s s ets$213,202
    2023fi na nce l ea s e a s s ets$13,972
    2023opera ti ng l ea s e a s s ets$252,682
    2023net of current porti onMore than one value recorded for this year — open the FDD source before comparing$26,881
    2023netMore than one value recorded for this year — open the FDD source before comparing$32,945
    2023goodwi l l$142,440
    2023other a s s etsMore than one value recorded for this year — open the FDD source before comparing$11,028
    2023tota l other a s s ets$491,382
    2023total$892,688
    2023current ma turi ti es of l ong-term debt$381
    2023current porti onMore than one value recorded for this year — open the FDD source before comparing$860
    2023current porti onMore than one value recorded for this year — open the FDD source before comparing$56,675
    2023accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing$19,108
    2023embedded deri va ti ve l i a bi l i ty$319,110
    2023accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing$31,506
    2023rel a ted-pa rty pa ya bl es$5,128
    2023tota l current l i a bi l i ti es$485,020
    2023net of current porti onMore than one value recorded for this year — open the FDD source before comparing$20,052
    2023net of current porti onMore than one value recorded for this year — open the FDD source before comparing$205,438
    2023net of current porti onMore than one value recorded for this year — open the FDD source before comparing$36,581
    2023deferred compens a ti on l i a bi l i ty$177,620
    2023other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$14,625
    2023addi ti ona l pa i d-i n ca pi ta l$9,997
    2023accumul a ted defi ci t-$817,373
    2023accumul a ted other comprehens i ve l os s-$58
    2023tota l s tockhol ders ’ defi ci t-$880,074
    2023restaurant sales$877,394
    2023royalty fees$106,445
    2023development fees$2,526
    2023franchise fees$1,139
    2023other revenue$5,059
    2023creative fund revenue$37,293
    2023labor$301,120
    2023occupancy$87,369
    2023other operating costs$208,277
    2023creative fund expense$45,433
    2023total operating expenses$1,140,097
    2023loss from operations-$42,387
    2023interest income$6,786
    2023interest expense-$40,482
    2023loss on extinguishment of debt-$1,185
    2023total income tax expense$1,592
    2023net income-$80,241
    2023foreign currency translation adjustment-$80
    2023comprehensive income-$80,321
    2023amorti za ti on of debt i s s ua nce cos ts$4,201
    2023los s on exti ngui s hment of debt$1,185
    2023impa i rment of l ong l i ved a s s ets$7,328
    2023ba d debt provi s i on-$1,245
    2023deferred i ncome ta x benefi t-$22,011
    2023ta x va l ua ti on a l l owa nce$22,011
    2023ga i n) l os s on property a nd equi pment di s pos a l$53
    2023deferred compens a ti on expens e$34,468
    2023crea ti ve fund recei va bl e$141
    2023prepa i d expens es a nd other current a s s etsMore than one value recorded for this year — open the FDD source before comparing$3,273
    2023other a s s etsMore than one value recorded for this year — open the FDD source before comparing$257
    2023long-term i nves tmentsMore than one value recorded for this year — open the FDD source before comparing-$1,507
    2023opera ti ng l ea s e l i a bi l i ti es-$72,127
    2023accounts pa ya bl eMore than one value recorded for this year — open the FDD source before comparing-$5,430
    2023accrued expens es a nd other current l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$8,104
    2023accrued pa yrol l a nd rel a ted ta xesMore than one value recorded for this year — open the FDD source before comparing-$3,710
    2023other l i a bi l i ti esMore than one value recorded for this year — open the FDD source before comparing$1,108
    2023net ca s h$33,537
    2023redempti on of commerci a l pa per$24,940
    2023deferred compens a ti on contri buti ons-$1,087
    2023deferred compens a ti on di s tri buti ons$490
    2023purcha s es of property a nd equi pment-$68,344
    2023hol dba ck s ettl ements rel a ted to a cqui s i ti ons-$6,100
    2023adva nces to rel a ted pa rti es-$26,351
    2023net ca s h us ed i n i nves ti ng a cti vi ti es-$76,452
    2023proceeds from l i ne of credi t$25,000
    2023repa yment of l i ne of credi t-$25,000
    2023proceeds from l ong-term debt$450,000
    2023s tockhol der a dva nces-$230
    2023di s tri buti ons-$5,673
    2023pa yments rel a ted to ta x wi thhol di ng for s tock-ba s ed compens a ti on-$97
    2023net ca s h provi ded by$16,679
    2023net change in cash, cash equivalents, and restricted cash-$26,236
    2023net effect of exchange rates on cash, cash equivalents, and restricted cash-$80
    2023begi nni ng$163,855
    2023interes t$36,264
    2023income ta xes$2,202
    2023accrued property a nd equi pment purcha s es$2,035
    2023rel a ted pa rty pa ya bl e for trea s ury s tock s ettl ed i n s ubs equent yea r$5,000

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

    SBA-backed loans to franchisees

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

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