Hardee’s
Franchise research report · reviewed 2026 disclosure data
Researching Hardee’s franchise opportunities? Every figure below is cited to the FDD.
Hardee’s franchises quick-service restaurants serving breakfast, lunch and dinner items, including charbroiled burgers, chicken tenders and biscuits. The format covered by this disclosure document operates from freestanding, single-tenant restaurant buildings.
Headline figures
Hardee’s quick facts
- Is Hardee’s a franchise?
- Yes. Hardee’s offers franchises through a Franchise Disclosure Document. At the end of 2026, it reported 1,287 franchised and 198 company-owned outlets (2026 FDD, Item 20, PDF p. 77).
- How much does it cost to open a Hardee’s franchise?
- The Hardee’s Franchise Disclosure Document reports separate estimated initial investments by format: $57,000–$97,000 for total fees to hr (2026 FDD, Item 7, PDF p. 39); $1,130,000–$2,207,395 for total build-out costs (2026 FDD, Item 7, PDF p. 39); $198,000–$333,000 for total preliminary operating expenses (2026 FDD, Item 7, PDF p. 39); $1,385,000–$2,637,395 for total estimated initial investment (2026 FDD, Item 7, PDF p. 39). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
- What is the Hardee’s initial franchise fee?
- The disclosed initial franchise fee for a standard single unit is $25,000 (2026 FDD, Item 5, PDF p. 28). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
- What ongoing fees does Hardee’s charge?
- The disclosed ongoing royalty is 3.5% (2026 FDD, Item 6, PDF p. 29). The brand or advertising fund contribution is 7% (2026 FDD, Item 6, PDF p. 31). Other recurring fees are listed in Item 6. Details
- Does Hardee’s disclose financial performance (Item 19)?
- Yes. The Hardee’s FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 75). Figures apply only to the locations and period each one covers. Details
- How many Hardee’s locations are there?
- The FDD reports 1,485 outlets at the end of 2026 (2026 FDD, Item 20, PDF p. 77). Existing locations do not indicate territory availability. Details
- Is Hardee’s 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
- 1The 2026 FDD (Item 7) estimates opening costs separately by format: $57,000 – $97,000 (Total Fees to HR); $1,130,000 – $2,207,395 (Total Build-Out Costs); $198,000 – $333,000 (Total Preliminary Operating Expenses); $1,385,000 – $2,637,395 (Total Estimated Initial Investment); several initial fee options apply.
- 2Item 19 covers 2 separate groups: other measures for 194 locations; other measures for 975 locations. They are not combined.
- 3Outlets declined by 86 in 2026, to 1,485 (System-wide Hardee’s restaurants, as labeled in the FDD, Item 20).
From reviewed FDD figures only. Not a recommendation or projection.
Hardee’s head-to-head
Closest peers in the same subcategory, side by side from reviewed FDD figures. Not a ranking or recommendation.
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 4 single-unit formats
2026 FDD · Item 7
Formats disclosed in Item 7 (4)
Each format has its own total. The total depends on the format you choose.
- Total Fees to HRPDF p. 39$57,000 – $97,000
- Total Preliminary Operating ExpensesPDF p. 39$198,000 – $333,000
- Total Build-Out CostsPDF p. 39$1,130,000 – $2,207,395
- Total Estimated Initial InvestmentPDF p. 39$1,385,000 – $2,637,395
Standard single-unit franchise fee
2026 FDD · Item 5 · PDF p. 28
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.
- Royalty — newly-developed restaurants, first 5 yearsMain ongoing fee
38 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?
Two separate populations, not a revenue-and-profit comparison. Revenue is not owner income.
194 locations
Other measures · 194 locations
- Who is counted
- Company-operated freestanding Hardee's restaurants in the United States during the FY26 Period, January 28, 2025 to January 26, 2026.
- Period
- Median revenue
- Excluded
- Excludes non-freestanding restaurants, Dual Concept restaurants, restaurants outside the United States, and restaurants without complete FY26 revenue data.
- Method
- Average and median revenue presented in the franchisor's FY26 table.
975 locations
Other measures · 975 locations
- Who is counted
- Franchised freestanding Hardee’s Restaurants
- Period
- Median revenue
- Excluded
- Non-freestanding restaurants, Dual Concept restaurants, and restaurants without complete revenue data for the entire FY26 period.
- Method
- Average and median revenue presented in the franchisor's FY26 table.
These groups are never combined.
Outlet Changes — Item 20
How has the outlet count changed?
System-wide Hardee’s restaurants, as labeled in the FDD · counts as of Fiscal year 2026 of each year.
2026 FDD · Item 20 · PDF p. 77
Net −113 outlets, 2024–2026
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 2026 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 ($57,000 – $2,637,395) 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 decreased from 1,571 to 1,485 in 2026. What drove the change?
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]Standard initial franchise fee — Item 5 · PDF p. 28
- [2]Item 19 — Locations counted not stated in the reviewed record — Company-operated freestanding Hardee's restaurants in the United States during… · PDF p. 75; PDF p. 76
- [3]Item 19 — Locations counted not stated in the reviewed record — Franchised freestanding Hardee’s Restaurants · PDF p. 75
- [4]Outlet counts — Item 20, Table 1 · PDF p. 77
"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 year | Measure | Reported value |
|---|---|---|
| 2026 | cash and cash equivalents | $72,399 |
| 2026 | total assets | $2,182,417 |
| 2026 | total liabilities | $2,004,788 |
| 2026 | total equity | $177,629 |
| 2026 | total revenue | $840,239 |
| 2026 | net income | $3,979 |
| 2026 | net cash provided by operating activities | $55,966 |
| 2025 | total equityMore than one value recorded for this year — open the FDD source before comparing | $172,558 |
| 2025 | total equityMore than one value recorded for this year — open the FDD source before comparing | $172,558 |
| 2025 | total revenueMore than one value recorded for this year — open the FDD source before comparing | $849,638 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $20,791 |
| 2025 | cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing | $52,718 |
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.
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.
Head-to-head comparisons
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 12 · PDF p. 61 · 2026 FDD
Our summary: Development territory: Not exclusive; a mutually agreed territory under the Development Agreement
“You will not receive an exclusive territory under the Development Agreement. If you sign a Development Agreement, you will receive a Development Territory that will be mutually agreed upon by HR and you, taking into consideration the density of the area and the number of Franchised Restaurants you agree to develop.”
Note: Supplied quote could not be confirmed on the cited PDF page excerpt.
Item 12 · PDF p. 63 · 2026 FDD
Our summary: Territory protection: 1½-mile radius around the Franchised Location while in compliance, subject to listed exceptions
“If you comply with the Franchise Agreement, HR will not operate, or license others to operate, a Hardee’s Restaurant, a Carl’s Jr. Restaurant and/or a fast service restaurant that sells hamburgers or any food menu item that comprises at least 10% of sales at Hardee’s Restaurants operated by HR (“ Hamburger Restaurant ”) within a radius of 1½ miles of the Franchised Location (“ Protected Area ”) during the term of each agreement.”
Note: Supplied quote could not be confirmed on the cited PDF page excerpt.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Lowest revenue
“Lowest $413,015”
Note: PDF p.75 gives conflicting FY26 franchised sample counts (1,071 and 975), so the group size tied to this table cannot be determined from the page.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Highest revenue
“Highest $3,599,953”
Note: PDF p.75 gives conflicting FY26 franchised sample counts (1,071 and 975), so the group size tied to this table cannot be determined from the page.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Percent met/exceeded average
“% Met / Exceeded Average 50.1%”
Note: PDF p.75 gives conflicting FY26 franchised sample counts (1,071 and 975), so the group size tied to this table cannot be determined from the page.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Number met/exceeded average
“# Met / Exceeded Average 471”
Note: PDF p.75 gives conflicting FY26 franchised sample counts (1,071 and 975), so the group size tied to this table cannot be determined from the page.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Average revenue
“Average Revenue FY26 Franchised Hardee’s Freestanding Restaurants 1 Average Revenue 2 $1,347,436”
Note: PDF p.75 gives two different FY26 populations (1,265 total / 1,071 franchised and 1,169 total / 975 franchised) but does not clearly connect the $1,347,436 table entry to one population.
Item 19 · PDF p. 75 · 2026 FDD
Our summary: Franchised Hardee’s freestanding restaurants — Median revenue
“Median Revenue $1,294,442”
Note: PDF p.75 gives conflicting FY26 franchised sample counts (1,071 and 975), so the group size tied to this table cannot be determined from the page.
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.