Hickory River Smokehouse
Franchise research report · reviewed 2026 disclosure data
Researching Hickory River Smokehouse franchise opportunities? Every figure below is cited to the FDD.
Hickory River Smokehouse is a fast-casual barbecue restaurant franchise serving dry-rubbed, hickory-smoked meats prepared in on-site smokehouses. Its menu includes brisket, ribs, pork shoulder, turkey breast, chicken, pulled pork, baby-back ribs, barbecue sauce, and sides.
Headline figures
Quick facts
- How much does it cost to open a Hickory River Smokehouse franchise?
- The Hickory River Smokehouse Franchise Disclosure Document reports separate estimated initial investments by format: $315,000–$674,500 for total — $315000 (2026 FDD, Item 7, PDF p. 10); $804,000–$1,084,500 for total initial investment — empty-space restaurant lower estimate (2026 FDD, Item 7, PDF p. 13). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
- What is the Hickory River Smokehouse initial franchise fee?
- The disclosed initial franchise fee for a standard single unit is $30,000 (2026 FDD, Item 5, PDF p. 8). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
- What ongoing fees does Hickory River Smokehouse charge?
- The disclosed ongoing royalty is $5 (2026 FDD, Item 6, PDF p. 8). The brand or advertising fund contribution is $3 (2026 FDD, Item 6, PDF p. 8). Other recurring fees are listed in Item 6. Details
- Does Hickory River Smokehouse disclose financial performance (Item 19)?
- Yes. The Hickory River Smokehouse FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 33). Figures apply only to the locations and period each one covers. Details
- How many Hickory River Smokehouse locations are there?
- The FDD reports 5 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 34). Existing locations do not indicate territory availability. Details
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: $315,000 – $674,500 (TOTAL — $315000); $804,000 – $1,084,500 (Total initial investment — empty-space restaurant lower estimate); several initial fee options apply.
- 2Item 19 reports revenue and other measures for 5 Franchised; source says no current company/affiliate locations locations.
- 3Outlets held steady in 2025, to 5 (United States, 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 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.
- $315000PDF p. 10$315,000 – $674,500
- empty-space restaurant lower estimatePDF p. 13$804,000 – $1,084,500
Standard single-unit franchise fee
2026 FDD · Item 5 · PDF p. 8
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 Fee — 5%Main ongoing fee
14 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?
One reported population. Revenue is not owner income.
Locations counted: not stated in the reviewed record
Revenue and other measures · 5 locations
- Who is counted
- Five mature franchised restaurants full-year
- Period
- 2025
- Method
- Unaudited; no auditors procedures. Revenue does not deduct sales costs,operating costs or other expenses.
Outlet Changes — Item 20
How has the outlet count changed?
United States, as labeled in the FDD · counts as of 2025 of each year.
2026 FDD · Item 20 · PDF p. 34
Net −1 outlets, 2023–2025
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 ($315,000 – $1,084,500) 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 5 to 5 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]Standard initial franchise fee — Item 5 · PDF p. 8
- [2]Item 19 — Locations counted not stated in the reviewed record · PDF p. 33
- [3]Outlet counts — Item 20, Table 1 · PDF p. 34
"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 |
|---|---|---|
| 2025 | receivables current portion of affiliate receivable | $23,937 |
| 2025 | prepaid taxesMore than one value recorded for this year — open the FDD source before comparing | $18,900 |
| 2025 | marketable securities - available for sale | $169,188 |
| 2025 | total current assets | $506,196 |
| 2025 | property and equipment equipment | $50,569 |
| 2025 | affiliate receivable, net of current portion | $0 |
| 2025 | total assets | $727,297 |
| 2025 | current liabilities current portion of installment loans | $13,184 |
| 2025 | benefit plan payableMore than one value recorded for this year — open the FDD source before comparing | $61,250 |
| 2025 | gift card liability | $6,315 |
| 2025 | income tax payable | $0 |
| 2025 | installment loans, net of current portion | $42,082 |
| 2025 | total long term liabilities | $52,002 |
| 2025 | continuing franchise fees | $311,202 |
| 2025 | marketing fees | $306,215 |
| 2025 | rebates, suppliers | $101,247 |
| 2025 | total revenue | $722,127 |
| 2025 | payroll and related expenses | $348,425 |
| 2025 | marketing and advertising | $311,187 |
| 2025 | professional services | $23,043 |
| 2025 | meals and travel | $9,055 |
| 2025 | auto expense | $13,565 |
| 2025 | insurance | $2,637 |
| 2025 | total operating expenses | $764,110 |
| 2025 | incomeMore than one value recorded for this year — open the FDD source before comparing | -$41,983 |
| 2025 | other income investment return | $25,011 |
| 2025 | income tax benefit | $1,500 |
| 2025 | net income | -$15,472 |
| 2025 | cash flows from operating activities net income | -$15,472 |
| 2025 | realized gain - investments | $8,559 |
| 2025 | unrealized gain | -$5,593 |
| 2025 | deferred income tax | -$1,500 |
| 2025 | prepaid taxesMore than one value recorded for this year — open the FDD source before comparing | $15,069 |
| 2025 | marketing deposit-franchisees | -$77,307 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$79,182 |
| 2025 | retained earnings | $157,791 |
| 2025 | total stockholders' equity | $257,791 |
| 2025 | total liabilities and stockholders' equity | $727,297 |
| 2025 | other | $3,463 |
| 2025 | current assets cash | $155,429 |
| 2025 | marketing deposits-franchisees | $336,755 |
| 2025 | note receivable, stock holder | $170,532 |
| 2025 | increase | -$13,422 |
| 2025 | cash flows from investing activities repayment from stockholder note receivable | $11,434 |
| 2025 | repayment from affiliate receivable | $28,027 |
| 2025 | stockholder receivable | $124,778 |
| 2025 | long term liabilities deferred income taxes | $9,920 |
| 2025 | benefit plan payableMore than one value recorded for this year — open the FDD source before comparing | -$5,750 |
| 2025 | current portion of note receivable - stockholder | $13,964 |
| 2025 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $16,234 |
| 2025 | incomeMore than one value recorded for this year — open the FDD source before comparing | -$16,972 |
| 2025 | sale of investments | $163,645 |
| 2025 | office | $19,839 |
| 2025 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $16,234 |
| 2025 | total current liabilities | $417,504 |
| 2025 | franchise support services | $20,125 |
| 2025 | purchase of investments | -$43,575 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$13,266 |
| 2025 | increase in receivable - stockholder | -$51,572 |
| 2025 | net increase | $15,511 |
| 2025 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $107,959 |
| 2025 | cash flows from financing activities installment loan payments | -$13,266 |
| 2024 | marketable securities - available for sale | $292,221 |
| 2024 | total current assets | $631,413 |
| 2024 | property and equipment equipment | $39,378 |
| 2024 | affiliate receivable, net of current portion | $20,164 |
| 2024 | note receivable, stock holder | $135,635 |
| 2024 | total assets | $826,590 |
| 2024 | current liabilities current portion of installment loans | $8,140 |
| 2024 | benefit plan payable | $67,000 |
| 2024 | gift card liability | $19,738 |
| 2024 | income tax payableMore than one value recorded for this year — open the FDD source before comparing | $0 |
| 2024 | long term liabilities deferred income taxes | $11,420 |
| 2024 | installment loans, net of current portion | $32,967 |
| 2024 | total long term liabilities | $44,387 |
| 2024 | continuing franchise fees | $342,649 |
| 2024 | marketing fees | $194,867 |
| 2024 | other | $6,496 |
| 2024 | total revenue | $648,045 |
| 2024 | payroll and related expenses | $375,290 |
| 2024 | marketing and advertising | $207,837 |
| 2024 | meals and travel | $17,716 |
| 2024 | auto expense | $13,953 |
| 2024 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $10,749 |
| 2024 | total operating expenses | $682,300 |
| 2024 | income | -$34,255 |
| 2024 | other income investment return | $40,341 |
| 2024 | income before income taxes | $6,086 |
| 2024 | net income | $5,086 |
| 2024 | cash flows from operating activities net income | $5,086 |
| 2024 | realized gain - investments | $8,401 |
| 2024 | unrealized gain - investment | $16,284 |
| 2024 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $10,749 |
| 2024 | prepaid otherMore than one value recorded for this year — open the FDD source before comparing | -$23,571 |
| 2024 | marketing deposit-franchisees | -$119,291 |
| 2024 | income tax payableMore than one value recorded for this year — open the FDD source before comparing | -$5,711 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$109,227 |
| 2024 | cash flows from investing activities repayment from stockholder note receivable | $10,299 |
| 2024 | repayment from affiliate receivable | $31,104 |
| 2024 | purchase of investments | -$87,544 |
| 2024 | sale of investments | $79,032 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$5,736 |
| 2024 | cash flows from financing activities installment loan payments | -$9,700 |
| 2024 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$9,700 |
| 2024 | net increase | -$124,663 |
| 2024 | retained earnings | $173,263 |
| 2024 | total liabilities and stockholders' equity | $826,590 |
| 2024 | current portion of note receivable - stockholder | $10,300 |
| 2024 | increase | $2,529 |
| 2024 | current assets cash | $139,918 |
| 2024 | stockholder receivable | $123,205 |
| 2024 | rebates, suppliers | $104,033 |
| 2024 | deferred income tax | $1,000 |
| 2024 | office | $21,878 |
| 2024 | insurance | $11,306 |
| 2024 | income tax benefit | -$1,000 |
| 2024 | receivables current portion of affiliate receivable | $31,800 |
| 2024 | prepaid otherMore than one value recorded for this year — open the FDD source before comparing | $33,969 |
| 2024 | marketing deposits-franchisees | $414,062 |
| 2024 | professional services | $23,571 |
| 2024 | accounts payable | -$4,703 |
| 2024 | total current liabilities | $508,940 |
| 2024 | increase in receivable - stockholder | -$38,627 |
| 2024 | total stockholders' equity | $273,263 |
| 2023 | current portion of note receivable - stockholder | $10,100 |
| 2023 | stockholders receivable | $84,578 |
| 2023 | prepaid otherMore than one value recorded for this year — open the FDD source before comparing | $10,398 |
| 2023 | marketable securities - available for sale | $311,439 |
| 2023 | total current assets | $705,096 |
| 2023 | affiliate receivable, net of current portion | $59,068 |
| 2023 | note receivable, stock holder | $146,134 |
| 2023 | total assets | $960,425 |
| 2023 | current liabilities accounts payable | $9,703 |
| 2023 | benefit plan payable | $62,000 |
| 2023 | marketing deposits-franchisees | $533,353 |
| 2023 | total current liabilities | $640,724 |
| 2023 | long term liabilities deferred income taxes | $10,420 |
| 2023 | installment loans, net of current portion | $41,104 |
| 2023 | continuing franchise fees | $389,540 |
| 2023 | marketing fees | $136,748 |
| 2023 | rebates, suppliers | $108,889 |
| 2023 | other | $37,351 |
| 2023 | total revenue | $672,528 |
| 2023 | marketing and advertising | $147,135 |
| 2023 | professional services | $25,694 |
| 2023 | auto expense | $17,693 |
| 2023 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $10,410 |
| 2023 | insurance | $8,470 |
| 2023 | total operating expenses | $602,211 |
| 2023 | income | $70,317 |
| 2023 | income before income taxes | $100,097 |
| 2023 | income tax benefit | -$18,000 |
| 2023 | net income | $82,097 |
| 2023 | cash flows from operating activities net income | $82,097 |
| 2023 | unrealized gain - investment | $21,097 |
| 2023 | gain on sale of equipment | $16,184 |
| 2023 | prepaid otherMore than one value recorded for this year — open the FDD source before comparing | $4,582 |
| 2023 | increase | $1,351 |
| 2023 | marketing deposit-franchisees | $63,573 |
| 2023 | income tax payableMore than one value recorded for this year — open the FDD source before comparing | -$4,938 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $211,331 |
| 2023 | cash flows from investing activities repayment from stockholder note receivable | $9,899 |
| 2023 | repayment from affiliate receivable | $24,075 |
| 2023 | purchase of investments | -$171,399 |
| 2023 | purchase equipment | -$42,154 |
| 2023 | sale of investments | $1,597 |
| 2023 | net increase | -$50,551 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | -$178,246 |
| 2023 | installment loan | $53,080 |
| 2023 | net cash providedMore than one value recorded for this year — open the FDD source before comparing | $17,466 |
| 2023 | retained earnings | $168,177 |
| 2023 | total stockholders' equity | $268,177 |
| 2023 | other income investment return | $29,780 |
| 2023 | deferred income tax | $10,000 |
| 2023 | income tax payableMore than one value recorded for this year — open the FDD source before comparing | $5,711 |
| 2023 | increase in receivable - stockholders | -$38,764 |
| 2023 | property and equipment equipment | $50,127 |
| 2023 | current portion of installment loans | $7,690 |
| 2023 | office | $14,237 |
| 2023 | sale of equipment | $38,500 |
| 2023 | current assets cash | $264,581 |
| 2023 | meals and travel | $18,788 |
| 2023 | realized gain - investments | $30 |
| 2023 | cash flows from financing activities installment loan payments | -$35,614 |
| 2023 | receivables current portion of affiliate receivable | $24,000 |
| 2023 | gift card liability | $22,267 |
| 2023 | total long term liabilities | $51,524 |
| 2023 | payroll and related expenses | $359,784 |
| 2023 | depreciationMore than one value recorded for this year — open the FDD source before comparing | $10,410 |
| 2023 | accounts payable | $6,945 |
| 2023 | total liabilities and stockholders' equity | $960,425 |
These figures describe the franchisor company, not individual franchise locations.
SBA-backed loans to franchisees
Loading…
Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.
Related research
Brands in the same subcategory first, then the wider industry, ordered by shared business format and overlapping investment range. 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
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.