Franopolis

    Great Clips, Inc.

    Franchise research report · reviewed 2026 disclosure data

    Researching Great Clips, Inc. franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources
    Franchising since
    1983
    Source: franchise.org
    Headquarters
    Minneapolis, MN United States
    Source: franchise.org

    Great Clips operates hair salons providing haircuts for adults, children and seniors. Customers can use online check-in or the brand's app to join a salon's waiting list and view estimated wait times.

    Headline figures

    Quick facts

    How much does it cost to open a Great Clips, Inc. franchise?
    The Great Clips, Inc. Franchise Disclosure Document reports separate estimated initial investments by format: $187,800 for $ 60 ,000 (1 0 ) as incurred as incurred employees, suppliers, utilities total (11) — 187800 (2026 FDD, Item 7, PDF p. 23); $14,000–$46,000 for fee $6,000 lump sum upon signing of your first franchise agreement great clips total — 14000 (2026 FDD, Item 7, PDF p. 26). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What is the Great Clips, Inc. initial franchise fee?
    The disclosed initial franchise fee for a standard single unit is $20,000 (2026 FDD, Item 5, PDF p. 17). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
    What ongoing fees does Great Clips, Inc. charge?
    The disclosed ongoing royalty is $6 (2026 FDD, Item 6, PDF p. 20). The brand or advertising fund contribution is $40,000 (2026 FDD, Item 6, PDF p. 18). Other recurring fees are listed in Item 6. Details
    Does Great Clips, Inc. disclose financial performance (Item 19)?
    Yes. The Great Clips, Inc. FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 61). Figures apply only to the locations and period each one covers. 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: $187,800 ($ 60 ,000 (1 0 ) As incurred As incurred Employees, suppliers, utilities Total (11) — 187800); $14,000 – $46,000 (Fee $6,000 Lump Sum Upon signing of your First Franchise Agreement Great Clips Total — 14000); several initial fee options apply.
    2. 2Item 19 covers 11 separate groups: revenue for 4,158 Franchised locations; revenue for 368 Franchised locations; revenue for 250 Franchised locations; adjusted operating results for 2,376 Franchised locations; revenue for 268 Franchised locations; revenue for 333 Franchised locations; revenue for 188 Franchised locations; revenue for 354 Franchised locations; revenue for 341 Franchised locations; revenue for 274 Franchised locations; revenue for 2,376 Franchised locations. They are not combined.

    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 2 single-unit formats

    2026 FDD · Item 7

    Formats disclosed in Item 7 (2)

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

    • Fee $6,000 Lump Sum Upon signing of your First Franchise Agreement Great Clips Total — 14000PDF p. 26$14,000 – $46,000
    • $ 60 ,000 (1 0 ) As incurred As incurred Employees, suppliers, utilities Total (11) — 187800PDF p. 23$187,800

    Standard single-unit franchise fee

    2026 FDD · Item 5 · PDF p. 17
    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.

    OTHER FEES Type of Fee 1 Amount Due Date Remarks Continuing Franchise Fee 2 — 6%Main ongoing fee

    60 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?

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

    Locations counted: not stated in the reviewed record

    Revenue · 4,158 locations

    Who is counted
    All2025eligible-to-open salons
    Period
    Median
    Excluded
    283of4441notfullperiodeligibleorownershipchange;108permanentclosuresnone<12monthsexcluded.
    Method
    POSdataunaudited;Canadianconvertedbyfranchisorat0.71;eligibleentireyearnotnecessarilyopenentireyear;lowesttotal28,036salonopen6nonconsecutivemonths,closed36weeks.

    Locations counted: not stated in the reviewed record

    Revenue · 368 locations

    Who is counted
    $350 - $400thousand annualsales
    Period
    Cashflowamount
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 250 locations

    Who is counted
    $450 - $500thousand annualsales
    Period
    Cashflow%
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Adjusted operating results · 2,376 locations

    Adjusted company-owned results: the franchisor adjusted these centers' expenses to estimate franchisee costs. They are not observed franchisee results or owner take-home income.

    Who is counted
    Reporting2025salons
    Period
    Percenttotal
    Excluded
    1782nonreportingof4158;763≥reportingmedian1019below;source saysallinclusiondecreasesmedian2.8%.
    Method
    Unauditedfranchiseestatements,mostlycashbasis;Canadianfranchisorconversion0.71;someperiodsmisalignedandannualizedbysource;source-roundedfigurescopied;laborincludessalonmanagerexidentifiablegeneralmanager/franchisee;cashflowexincometax,depreciation,amortization,futurecapex;payrolltaxcreditsnotadjusted.

    Locations counted: not stated in the reviewed record

    Revenue · 268 locations

    Who is counted
    $250 - $300thousand annualsales
    Period
    Cashflowamount
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 333 locations

    Who is counted
    $400 - $450thousand annualsales
    Period
    Labor%
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 188 locations

    Who is counted
    <$250thousand annualsales
    Period
    Cashflowamount
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 354 locations

    Who is counted
    $300 - $350thousand annualsales
    Period
    Totalexpenses%
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 341 locations

    Who is counted
    $500 - $600thousand annualsales
    Period
    Labor%
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 274 locations

    Who is counted
    >$600thousand annualsales
    Period
    Averagesales
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    Locations counted: not stated in the reviewed record

    Revenue · 2,376 locations

    Who is counted
    All Salons in Samplethousand annualsales
    Period
    Occupancy%
    Method
    Unauditedmostlycashbasis;sourceannualization/conversion0.71;cashflowexincometax,depreciation,amortization,futurecapex;samplebias1782excluded. Source-roundedvaluescopied.

    These groups are never combined. Adjusted company-owned operating results cannot be divided by franchised revenue to calculate a franchisee profit margin.

    Outlet Changes — Item 20

    How has the outlet count changed?

    Coverage not stated in the reviewed record · counts as of year end of each year.

    2026 FDD · Item 20 ·

    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 ($14,000 – $187,800) 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?

    • 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]Standard initial franchise fee — Item 5 · PDF p. 17
    2. [2]Item 19 — Locations counted not stated in the reviewed record — All2025eligible-to-open salons · PDF p. 61
    3. [3]Item 19 — Locations counted not stated in the reviewed record — $350 - $400thousand annualsales · PDF p. 63
    4. [4]Item 19 — Locations counted not stated in the reviewed record — $450 - $500thousand annualsales · PDF p. 63
    5. [5]Item 19 — Locations counted not stated in the reviewed record — Reporting2025salons · PDF p. 62
    6. [6]Item 19 — Locations counted not stated in the reviewed record — $250 - $300thousand annualsales · PDF p. 63
    7. [7]Item 19 — Locations counted not stated in the reviewed record — $400 - $450thousand annualsales · PDF p. 63
    8. [8]Item 19 — Locations counted not stated in the reviewed record — <$250thousand annualsales · PDF p. 63
    9. [9]Item 19 — Locations counted not stated in the reviewed record — $300 - $350thousand annualsales · PDF p. 63
    10. [10]Item 19 — Locations counted not stated in the reviewed record — $500 - $600thousand annualsales · PDF p. 63
    11. [11]Item 19 — Locations counted not stated in the reviewed record — >$600thousand annualsales · PDF p. 63
    12. [12]Item 19 — Locations counted not stated in the reviewed record — All Salons in Samplethousand annualsales · PDF p. 63

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

    Territory & operations

    291 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
    2025general and administrative expenses$52,234,259
    2025accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing-$1,514,731
    2025restricted cash and current assets of north american advertising fund$31,551,131
    2025total current liabilities$50,967,562
    2025initial franchise fees$3,677,747
    2025computer equipment and software$19,444,680
    2025unearned initial franchise fees, net of current portion$17,713,123
    2025total long-term obligations$31,177,873
    2025net cash provided by operating activities$19,998,781
    2025change in cash and cash equivalents and restricted cash$4,391,483
    2025income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$27,311
    2025operating lease right-of-use assets$3,012,820
    2025payments on long-term debt-$3,750,000
    2025total shareholders’ equity$58,295,245
    2025equity redemption in satisfaction of shareholder note receivable$3,000,000
    2025income tax expense$9,035,473
    2025unearned initial franchise fees$287,409
    2025trade receivables-$78,052
    2025deferred compensation payments-$1,427,394
    2025purchases of property and equipment-$2,586,374
    2025shareholder repayments$5,882,000
    2025nonvoting common stock redemption-$3,706,458
    2025initial franchise fee revenue$2,012,841
    2025other current assets$5,631,752
    2025shareholders$4,918,000
    2025total current assets$100,209,981
    2025transportation equipment$28,680,268
    2025cash and cash equivalents$47,670,132
    2025other restricted cash$302,192
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing$488,813
    2025leasehold improvements$3,541,953
    2025equipment$4,150,265
    2025less accumulated depreciation$21,899,879
    2025total property and equipment, net$33,917,287
    2025deferred tax assets$3,282,592
    2025other, primarily security deposits$18,000
    2025total other assets$6,313,412
    2025total assets$140,440,680
    2025current maturities of long-term debt$3,750,000
    2025operating lease liabilities, current$1,013,807
    2025unearned initial franchise fees, current$1,740,086
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$3,434,912
    2025accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing$31,551,131
    2025accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing$8,498,517
    2025deferred compensation, current$979,109
    2025long-term debt, net of current maturities$7,254,731
    2025operating lease liabilities, net of current portion$2,943,812
    2025deferred compensation, net of current portion$3,266,207
    2025retained earnings$58,931,934
    2025accumulated other comprehensive loss-$638,403
    2025continuing franchise fee revenue$115,505,377
    2025north american advertising fund contributions$90,092,091
    2025continuing franchise fees$31,374,431
    2025north american advertising fund expenses$90,092,091
    2025gross profit$82,466,040
    2025operating profit$30,231,781
    2025interest income$66,345
    2025other-$383,925
    2025earnings before income tax expense$29,914,201
    2025net earnings$20,878,728
    2025depreciation$3,994,898
    2025amortization of initial franchise fees-$2,012,841
    2025deferred compensation expense$1,164,282
    2025noncash change in net lease liability, net-$267,867
    2025loss$418,906
    2025deferred income taxes$1,984,604
    2025income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$137,574
    2025other current assets of north american advertising fund-$1,590,909
    2025other assets-$1,337,288
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing$175,250
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$368,205
    2025accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$1,181,993
    2025shareholder advances-$11,800,000
    2025net cash used in investing activities-$8,504,374
    2025net cash used in financing activities-$7,456,458
    2025effects of exchange rates on cash and cash equivalents and restricted cash$353,534
    2025ending$65,133,995
    2025cash paid during the year for interest$1,209,030
    2025cash paid during the year for income taxes$6,913,295
    2025restricted cash of north american advertising fund$17,161,671
    2024total current assets$89,882,851
    2024north american advertising fund contributions$87,466,324
    2024less accumulated depreciation$19,152,323
    2024deferred compensation payments-$3,622,080
    2024earnings before income tax expense$28,851,292
    2024income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$368,935
    2024deferred tax assets$5,267,196
    2024equity redemption in satisfaction of shareholder note receivable$2,500,000
    2024current maturities of long-term debt$3,250,000
    2024operating profit$28,141,242
    2024ending$60,742,512
    2024proceeds from sale of equipment$12,400,000
    2024continuing franchise fee revenue$112,771,070
    2024initial franchise fee revenue$2,470,995
    2024inventoriesMore than one value recorded for this year — open the FDD source before comparing$664,063
    2024other current assets$4,263,626
    2024shareholders$2,000,000
    2024transportation equipment$28,683,423
    2024cash and cash equivalents$39,839,742
    2024restricted cash and current assets of north american advertising fund$33,065,862
    2024other restricted cash$342,075
    2024income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$164,885
    2024computer equipment and software$17,572,814
    2024leasehold improvements$4,762,281
    2024equipment$4,000,236
    2024total property and equipment, net$35,866,431
    2024operating lease right-of-use assets$4,157,428
    2024other, primarily security deposits$48,838
    2024total other assets$9,473,462
    2024total assets$135,222,744
    2024operating lease liabilities, current$1,396,695
    2024unearned initial franchise fees, current$989,256
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$3,188,421
    2024accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing$33,065,862
    2024accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing$9,387,126
    2024deferred compensation, current$1,613,752
    2024total current liabilities$52,891,112
    2024long-term debt, net of current maturities$11,504,731
    2024operating lease liabilities, net of current portion$3,973,399
    2024unearned initial franchise fees, net of current portion$20,189,385
    2024deferred compensation, net of current portion$2,894,676
    2024total long-term obligations$38,562,191
    2024retained earnings$44,759,630
    2024accumulated other comprehensive loss-$991,937
    2024total shareholders’ equity$43,769,441
    2024continuing franchise fees$32,478,838
    2024initial franchise fees$3,809,635
    2024north american advertising fund expenses$87,466,324
    2024gross profit$78,953,592
    2024general and administrative expenses$50,812,350
    2024interest income-$260,954
    2024other$971,004
    2024income tax expense$6,542,895
    2024net earnings$22,308,397
    2024depreciation$3,915,763
    2024amortization of goodwill$484,790
    2024amortization of initial franchise fees-$2,470,995
    2024deferred compensation expense$815,390
    2024noncash change in net lease liability, net-$348,960
    2024loss-$792,451
    2024deferred income taxes-$2,076,015
    2024trade receivables-$1,040,264
    2024other current assets of north american advertising fund-$77,285
    2024other assets-$417,853
    2024inventoriesMore than one value recorded for this year — open the FDD source before comparing-$243,974
    2024unearned initial franchise fees$1,034,939
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$238,670
    2024accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing-$966,681
    2024accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$7,587
    2024net cash provided by operating activities$17,102,739
    2024purchases of property and equipment-$30,077,468
    2024shareholder advances-$4,000,000
    2024shareholder repayments$2,000,000
    2024net cash used in investing activities-$19,677,468
    2024advances on revolving line of credit$5,000,000
    2024payments on revolving line of credit-$5,000,000
    2024payments on long-term debt-$4,552,159
    2024nonvoting common stock redemption-$87,350
    2024net cash used in financing activities-$4,639,509
    2024effects of exchange rates on cash and cash equivalents and restricted cash-$516,113
    2024change in cash and cash equivalents and restricted cash-$7,730,351
    2024cash paid during the year for interest$1,559,879
    2024cash paid during the year for income taxes$8,249,975
    2024property and equipment additions in accounts payable$121,714
    2024restricted cash of north american advertising fund$20,560,695
    2023other restricted cash$424,172
    2023total assets$127,196,785
    2023income tax expense$6,726,231
    2023accounts payableMore than one value recorded for this year — open the FDD source before comparing$2,835,846
    2023initial franchise fee revenue$3,148,996
    2023operating lease liabilities, net of current portion$5,369,839
    2023cash and cash equivalents$46,038,335
    2023operating lease liabilities, current$2,168,327
    2023retained earnings$25,038,568
    2023other current assets of north american advertising fund-$2,136,588
    2023leasehold improvements$6,368,135
    2023total property and equipment, net$21,198,370
    2023change in cash and cash equivalents and restricted cash-$471,869
    2023transportation equipment$20,345,555
    2023deferred compensation expense$2,487,940
    2023amortization of goodwill$453,024
    2023net cash used in investing activities-$8,726,459
    2023other, primarily security deposits$102,121
    2023long-term debt, net of current maturities$15,879,731
    2023amortization of initial franchise fees-$3,148,996
    2023accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing$34,032,543
    2023accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing$8,989,018
    2023cash paid during the year for interest$1,527,156
    2023north american advertising fund expenses$83,593,010
    2023deferred income taxes$109,423
    2023interest income-$1,265,274
    2023unearned initial franchise fees$1,689,158
    2023inventoriesMore than one value recorded for this year — open the FDD source before comparing-$358,754
    2023net cash used in financing activities-$12,435,204
    2023property and equipment additions in accounts payable$7,809
    2023continuing franchise fee revenue$106,824,630
    2023inventoriesMore than one value recorded for this year — open the FDD source before comparing$420,089
    2023other current assets$3,792,490
    2023shareholders$2,500,000
    2023total current assets$96,243,783
    2023restricted cash and current assets of north american advertising fund$34,032,543
    2023income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$533,820
    2023computer equipment and software$19,572,044
    2023equipment$3,233,760
    2023less accumulated depreciation$28,321,124
    2023gross profit$74,569,420
    2023operating lease right-of-use assets$5,976,540
    2023goodwill, net$484,790
    2023deferred tax assets$3,191,181
    2023total other assets$9,754,632
    2023current maturities of long-term debt$3,427,159
    2023unearned initial franchise fees, current$2,056,002
    2023deferred compensation, current$3,661,590
    2023total current liabilities$57,170,485
    2023unearned initial franchise fees, net of current portion$20,558,695
    2023deferred compensation, net of current portion$3,653,528
    2023total long-term obligations$45,461,793
    2023accumulated other comprehensive loss-$475,824
    2023total shareholders’ equity$24,564,507
    2023north american advertising fund contributions$83,593,010
    2023continuing franchise fees$32,042,900
    2023initial franchise fees$3,361,306
    2023general and administrative expenses$46,328,283
    2023operating profit$28,241,137
    2023other-$327,176
    2023earnings before income tax expense$26,648,687
    2023net earnings$19,922,456
    2023depreciation$3,298,193
    2023deferred compensation payments-$2,076,172
    2023noncash change in net lease liability, net-$391,592
    2023loss$327,176
    2023trade receivables$983,128
    2023income taxes receivableMore than one value recorded for this year — open the FDD source before comparing$694,572
    2023other assets-$1,105,108
    2023accounts payableMore than one value recorded for this year — open the FDD source before comparing$158,201
    2023accrued advertising expenses of north american advertising fundMore than one value recorded for this year — open the FDD source before comparing$1,621,051
    2023accrued liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$1,858,383
    2023net cash provided by operating activities$20,668,729
    2023purchases of property and equipment-$6,227,516
    2023proceeds from sale of equipment$1,057
    2023shareholder advances-$2,500,000
    2023payments on long-term debt-$7,322,754
    2023nonvoting common stock redemption-$5,112,450
    2023effects of exchange rates on cash and cash equivalents and restricted cash$21,065
    2023beginning$68,944,732
    2023ending$68,472,863
    2023cash paid during the year for income taxes$5,922,236
    2023restricted cash of north american advertising fund$22,010,356

    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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    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 19 · PDF p. 62 · 2026 FDD

      Our summary: Table2 Total Sales — Average

      “Total Sales Median Annual Sales”

      Note: The attached quote omitted the average, and the available p.62 text extraction prints it as “$4 22,283,” so the exact figure 422,283 is not verifiable by verbatim quote validation. I did not use a separate group’s table to support it.

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