Franopolis

    HoneyBaked

    Franchise research report · reviewed 2026 disclosure data

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

    Reviewed sources

    HoneyBaked franchise locations specialize in premium spiral-cut hams, turkey, and catering services, serving customers during holidays and year-round occasions.

    Headline figures

    Quick facts

    How much does it cost to open a HoneyBaked franchise?
    The HoneyBaked Franchise Disclosure Document reports separate estimated initial investments by format: $167,200–$265,600 for seasonal store — total (see note 15) (2026 FDD, Item 7, PDF p. 21); $514,200–$829,600 for honeybaked store — total (see note 15) (2026 FDD, Item 7, PDF p. 19). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does HoneyBaked charge?
    The disclosed ongoing royalty is $6 (2026 FDD, Item 6, PDF p. 12). The brand or advertising fund contribution is $3 (2026 FDD, Item 6, PDF p. 12). Other recurring fees are listed in Item 6. Details
    Does HoneyBaked disclose financial performance (Item 19)?
    Yes. The HoneyBaked FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 50). Figures apply only to the locations and period each one covers. Details
    How many HoneyBaked locations are there?
    The FDD reports 271 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 62). 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: $167,200 – $265,600 (Seasonal Store — Total (See Note 15)); $514,200 – $829,600 (HoneyBaked Store — Total (See Note 15)); several initial fee options apply.
    2. 2Item 19 covers 20 separate groups: other measures for 203 franchised locations; revenue for 65 franchised locations; revenue for 60 franchised locations; revenue for 78 franchised locations; other measures for 139 combined regular locations; other measures for 140 combined regular locations; other measures for 418 combined regular locations; other measures for 198 franchised regular locations; other measures for 66 franchised regular locations; other measures for 220 company regular locations; other measures for 74 company regular locations; other measures for 73 company regular locations; other measures for 51 combined seasonal locations; other measures for 17 combined seasonal locations; other measures for 2 franchised seasonal locations; other measures for 16 company seasonal locations; other measures for 49 company seasonal locations; other measures for 17 company seasonal locations; other measures for 139 locations; other measures for 140 locations. They are not combined.
    3. 3Outlets grew by 210 in 2025, to 271 (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.

    • Seasonal Store — Total (See Note 15)PDF p. 21$167,200 – $265,600
    • HoneyBaked Store — Total (See Note 15)PDF p. 19$514,200 – $829,600

    Ongoing Fees — Item 6

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

    Royalty monthly net salesMain ongoing fee

    53 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?

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

    Franchised locations

    Other measures · 203 locations

    Who is counted
    All203
    Period
    Net Sales - Range low
    Excluded
    4 full year Stores missing/correct-format P&L;8 new,6 closed,4 acquired by affiliate.
    Method
    Unaudited standardized franchise P&L full calendar year2024. COGS food beverages paper/packaging; hourly labor excludes management. Other operating expenses include management salary rent utilities insurance royalty ads technology. EBITDA excludes interest taxes depreciation amortization.

    Franchised locations

    Revenue · 65 locations

    Who is counted
    Net sales $700,001–$1,000,000
    Period
    Net Sales - Range low
    Excluded
    4 full year Stores missing/correct-format P&L;8 new,6 closed,4 acquired by affiliate.
    Method
    Unaudited standardized franchise P&L full calendar year2024. COGS food beverages paper/packaging; hourly labor excludes management. Other operating expenses include management salary rent utilities insurance royalty ads technology. EBITDA excludes interest taxes depreciation amortization.

    Franchised locations

    Revenue · 60 locations

    Who is counted
    Net sales below $700,000
    Period
    No. of Stores
    Excluded
    4 full year Stores missing/correct-format P&L;8 new,6 closed,4 acquired by affiliate.
    Method
    Unaudited standardized franchise P&L full calendar year2024. COGS food beverages paper/packaging; hourly labor excludes management. Other operating expenses include management salary rent utilities insurance royalty ads technology. EBITDA excludes interest taxes depreciation amortization.

    Franchised locations

    Revenue · 78 locations

    Who is counted
    Net sales >$1,000,000
    Period
    No. of Stores
    Excluded
    4 full year Stores missing/correct-format P&L;8 new,6 closed,4 acquired by affiliate.
    Method
    Unaudited standardized franchise P&L full calendar year2024. COGS food beverages paper/packaging; hourly labor excludes management. Other operating expenses include management salary rent utilities insurance royalty ads technology. EBITDA excludes interest taxes depreciation amortization.

    Locations counted: not stated in the reviewed record

    Other measures · 139 locations

    Who is counted
    combined regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 140 locations

    Who is counted
    combined regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 418 locations

    Who is counted
    combined regular
    Period
    Average Net Sales
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 198 locations

    Who is counted
    franchised regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 66 locations

    Who is counted
    franchised regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 220 locations

    Who is counted
    company regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 74 locations

    Who is counted
    company regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 73 locations

    Who is counted
    company regular
    Period
    Range of Net Sales low
    Excluded
    18 new franchise,2 temporary closed,6 permanent closed;2 company sold to franchisee,11 company acquired,5 company new,4 company closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 51 locations

    Who is counted
    combined seasonal
    Period
    Range of Net Sales low
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 17 locations

    Who is counted
    combined seasonal
    Period
    Range of Net Sales low
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 2 locations

    Who is counted
    franchised seasonal
    Period
    Range of Net Sales low
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 16 locations

    Who is counted
    company seasonal
    Period
    Range of Net Sales low
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 49 locations

    Who is counted
    company seasonal
    Period
    Number Of Stores
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 17 locations

    Who is counted
    company seasonal
    Period
    Number Of Stores
    Excluded
    2 new franchise Seasonal,1 franchise Seasonal closed,2 franchise Seasonal acquired by affiliate;10 new company Seasonal,2 company Seasonal closed over three years.
    Method
    Unaudited CMS POS; operated all three fiscal years September 26, 2022–September 28, 2025. Net sales exclude customer discounts/refunds and remitted sales/excise taxes.

    Locations counted: not stated in the reviewed record

    Other measures · 139 locations

    Who is counted
    Combined regular stores operated three years
    Method
    Unaudited CMS POS; all-store malformed median $1.235,325 omitted.

    Locations counted: not stated in the reviewed record

    Other measures · 140 locations

    Who is counted
    Combined regular stores operated three years
    Method
    Unaudited CMS POS; all-store malformed median $1.235,325 omitted.

    These groups are never combined.

    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. 55

    Net +213 outlets, 2023–2025

    058202343920242712025+381−168

    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 ($167,200 – $829,600) 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 61 to 271 in 2025. How many new units opened, closed or changed hands?

    • Is a territory available in my area, and how is it defined in my agreement?

    For current and former owners

    • How did your actual startup costs and timeline compare with the Item 7 estimate?

    • How many hours a week do you work in the business, and in what role?

    • How do your results compare with the Item 19 figures, and what explains the difference?

    • What support from the franchisor has been most and least useful?

    For your advisors

    • Ask a franchise attorney to review the territory, renewal, transfer and termination terms.

    • Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.

    Sources & vintage history

    Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.

    Citations (2026 FDD)

    1. [1]Item 19 — Franchised (203 locations) — other measures · PDF p. 52
    2. [2]Item 19 — Franchised (65 locations) — revenue · PDF p. 52
    3. [3]Item 19 — Franchised (60 locations) — revenue · PDF p. 52
    4. [4]Item 19 — Franchised (78 locations) — revenue · PDF p. 52
    5. [5]Item 19 — Locations counted not stated in the reviewed record — combined regular · PDF p. 50
    6. [6]Item 19 — Locations counted not stated in the reviewed record — combined regular · PDF p. 50
    7. [7]Item 19 — Locations counted not stated in the reviewed record — combined regular · PDF p. 50
    8. [8]Item 19 — Locations counted not stated in the reviewed record — franchised regular · PDF p. 50
    9. [9]Item 19 — Locations counted not stated in the reviewed record — franchised regular · PDF p. 50
    10. [10]Item 19 — Locations counted not stated in the reviewed record — company regular · PDF p. 51
    11. [11]Item 19 — Locations counted not stated in the reviewed record — company regular · PDF p. 51
    12. [12]Item 19 — Locations counted not stated in the reviewed record — company regular · PDF p. 51
    13. [13]Item 19 — Locations counted not stated in the reviewed record — combined seasonal · PDF p. 53
    14. [14]Item 19 — Locations counted not stated in the reviewed record — combined seasonal · PDF p. 53
    15. [15]Item 19 — Locations counted not stated in the reviewed record — franchised seasonal · PDF p. 53
    16. [16]Item 19 — Locations counted not stated in the reviewed record — company seasonal · PDF p. 54
    17. [17]Item 19 — Locations counted not stated in the reviewed record — company seasonal · PDF p. 54
    18. [18]Item 19 — Locations counted not stated in the reviewed record — company seasonal · PDF p. 54
    19. [19]Item 19 — Locations counted not stated in the reviewed record — Combined regular stores operated three years · PDF p. 50
    20. [20]Item 19 — Locations counted not stated in the reviewed record — Combined regular stores operated three years · PDF p. 50
    21. [21]Outlet counts — Item 20, Table 1 · PDF p. 55

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

    Territory & operations

    222 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
    2025franchisee receivables, net$1,211
    2025accounts receivable, related parties$45,363
    2025assets current assets cash$65
    2025total current assets$46,804
    2025goodwill, net$2,506
    2025other assetsMore than one value recorded for this year — open the FDD source before comparing$114
    2025total assets$52,639
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$194
    2025accounts payable, related parties$185
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing$583
    2025total current liabilities$1,443
    2025deferred revenue, less current portion$756
    2025total liabilities$2,199
    2025member’s equity$50,440
    2025total liabilities and member’s equity$52,639
    2025royalties, advertising, and technology fees , net$18,655
    2025product sales to franchisees, net$2,862
    2025franchise fees, net$296
    2025operating expenses selling, general, and administrative$19,894
    2025amortization$561
    2025depreciation$49
    2025income from operations$1,309
    2025less other expense, net$3
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$1,306
    2025cash flows from operating activities net income$1,306
    2025provision for credit losses$30
    2025franchisee receivables$67
    2025accounts receivable and payable, related party-$2,198
    2025prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing$114
    2025deferred revenue$30
    2025net cash provided by$40
    2025cash flows from investing activities capital expenditures-$5
    2025net change in cash$35
    2025cash at beginning of year$30
    2025cash at end of year$65
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$1,306
    2025closing equity$50,440
    2025total operating expenses$20,504
    2025other intangible assets, net$3,133
    2025property and equipment, net$82
    2025net cash used in investing activities-$5
    2025deferred revenue, current portion$481
    2025total revenues$21,813
    2025accrued expensesMore than one value recorded for this year — open the FDD source before comparing$55
    2025depreciation and amortization$610
    2025prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing$165
    2025accounts payableMore than one value recorded for this year — open the FDD source before comparing$140
    2025other assetsMore than one value recorded for this year — open the FDD source before comparing-$114
    2024franchisee receivables, net$1,308
    2024accounts receivable, related parties$43,165
    2024assets current assets cash$30
    2024prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing$279
    2024total current assets$44,782
    2024property and equipment, net$126
    2024goodwill, net$2,869
    2024total assets$51,109
    2024accounts payable, related parties$185
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$529
    2024total current liabilities$1,213
    2024total liabilities$1,975
    2024member’s equity$49,134
    2024royalties, advertising, and technology fees , net$19,074
    2024product sales to franchisees, net$2,623
    2024franchise fees, net$315
    2024other$175
    2024operating expenses selling, general, and administrative$19,703
    2024depreciation$9
    2024less other expense, net$21
    2024cash flows from operating activities net income$53
    2024franchisee receivables$600
    2024prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing$7
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing-$45
    2024deferred revenue-$107
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$246
    2024net cash provided by-$510
    2024net cash used in investing activities-$134
    2024net change in cash-$644
    2024cash at beginning of year$674
    2024cash at end of year$30
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$53
    2024closing equity$49,134
    2024total liabilities and member’s equity$51,109
    2024amortization$2,401
    2024income from operations$74
    2024deferred revenue, current portion$445
    2024deferred revenue, less current portion$762
    2024total revenues$22,187
    2024accounts receivable and payable, related party-$3,869
    2024total operating expenses$22,113
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$53
    2024provision for credit losses$195
    2024other intangible assets, net$3,332
    2024depreciation and amortization$2,410
    2024cash flows from investing activities capital expenditures-$134
    2024accounts payableMore than one value recorded for this year — open the FDD source before comparing$54
    2023accrued expensesMore than one value recorded for this year — open the FDD source before comparing$284
    2023franchisee receivables, net$2,103
    2023assets current assets cash$674
    2023prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing$286
    2023total current assets$42,362
    2023property and equipment, net$1
    2023goodwill, net$5,073
    2023total assets$50,966
    2023accounts payableMore than one value recorded for this year — open the FDD source before comparing$99
    2023accounts payable, related parties$188
    2023deferred revenue, current portion$452
    2023total current liabilities$1,023
    2023deferred revenue, less current portion$862
    2023total liabilities$1,885
    2023total liabilities and member’s equity$50,966
    2023royalties, advertising, and technology fees , net$18,228
    2023franchise fees, net$320
    2023total revenues$21,329
    2023operating expenses selling, general, and administrative$16,922
    2023amortization$2,424
    2023depreciation$2
    2023income from operations$1,981
    2023less other expense, net$32
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$1,949
    2023cash flows from operating activities net income$1,949
    2023depreciation and amortization$2,426
    2023provision for credit losses$46
    2023franchisee receivables-$832
    2023accounts receivable and payable, related party-$3,503
    2023prepaid and other assetsMore than one value recorded for this year — open the FDD source before comparing-$70
    2023accounts payableMore than one value recorded for this year — open the FDD source before comparing-$251
    2023deferred revenue$218
    2023accrued expensesMore than one value recorded for this year — open the FDD source before comparing-$110
    2023net change in cash-$127
    2023cash at end of year$674
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$1,949
    2023other intangible assets, net$3,530
    2023net cash provided by-$127
    2023accounts receivable, related parties$39,299
    2023member’s equity$49,081
    2023product sales to franchisees, net$2,781
    2023total operating expenses$19,348
    2023cash at beginning of year$801
    2023member contribution$1,200
    2023closing equity$49,081
    2022opening equity$45,932

    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.

    Mainstream BoutiquePayMoreThe Red CollectionAbbey Carpet and Floor ShowroomsCornwellDSDealer Specialties

    Head-to-head comparisons

    HoneyBaked vs Mainstream BoutiqueHoneyBaked vs PayMoreHoneyBaked vs The Red Collection
    Compare reviewed facts

    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

    Reader notes on wording

    Our automated check found that these summaries may not match the FDD's exact wording. Read the FDD excerpt itself; it is the authoritative text. Core cost, fee, Item 19 and outlet figures are not affected.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 2 Texas 2025 — transfers

      “2025 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 2 TOTALS 2025 — transfers

      “2025 8”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2023 — start

      “2023 7 0 0 0 0 0 7”

      Note: Item 20 state- or ownership-specific row; only national/systemwide Total rows are eligible for verification.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2023 — opened

      “2023 7 0 0 0 0 0 7”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 66 · 2026 FDD

      Our summary: Table 9 TN 2024 — end

      “2024 2 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 2 Tennessee 2023 — transfers

      “2023 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 2 Tennessee 2024 — transfers

      “2024 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 55 · 2026 FDD

      Our summary: Table 2 Minnesota 2023 — transfers

      “2023 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 55 · 2026 FDD

      Our summary: Table 2 Georgia 2024 — transfers

      “2024 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 55 · 2026 FDD

      Our summary: Table 2 Maryland 2023 — transfers

      “2023 3”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2024 — opened

      “2024 7 0 0 0 0 0 7”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2025 — opened

      “2025 7 1 0 0 0 0 8”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2023 — reacquired

      “2023 7 0 0 0 0 0 7”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2024 — ceased other

      “2024 7 0 0 0 0 0 7”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AL 2023 — end

      “2023 7 0 0 0 0 0 7”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AR 2024 — nonrenewals

      “2024 3 1 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AR 2024 — opened

      “2024 3 1 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AR 2025 — opened

      “2025 4 0 0 0 1 0 3”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AR 2025 — ceased other

      “2025 4 0 0 0 1 0 3”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 56 · 2026 FDD

      Our summary: Table 3 AR 2024 — ceased other

      “2024 3 1 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 AZ 2024 — reacquired

      “2024 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 AZ 2024 — end

      “2024 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 AZ 2024 — opened

      “2024 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 AZ 2025 — terminations

      “2025 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CA 2023 — ceased other

      “2023 9 0 0 0 0 0 9”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CA 2025 — terminations

      “2025 9 0 0 0 0 0 9”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CA 2025 — nonrenewals

      “2025 9 0 0 0 0 0 9”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CA 2025 — opened

      “2025 9 0 0 0 0 0 9”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CA 2024 — ceased other

      “2024 9 0 0 0 0 0 9”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CO 2023 — ceased other

      “2023 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CO 2024 — start

      “2024 4 0 0 1 0 0 3”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CO 2025 — terminations

      “2025 3 0 0 0 0 0 3”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CO 2023 — terminations

      “2023 4 0 0 0 0 0 4”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CT 2025 — opened

      “2025 2 0 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CT 2025 — nonrenewals

      “2025 2 0 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2023 — opened

      “2023 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CT 2024 — start

      “2024 0 2 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CT 2025 — ceased other

      “2025 2 0 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 CT 2024 — opened

      “2024 0 2 0 0 0 0 2”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2023 — start

      “2023 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2025 — reacquired

      “2025 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2025 — opened

      “2025 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2025 — nonrenewals

      “2025 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 FL 2023 — start

      “2023 19 0 0 0 1 1 17”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 DE 2023 — ceased other

      “2023 1 0 0 0 0 0 1”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 FL 2025 — end

      “2025 16 1 0 0 0 0 17”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 FL 2025 — terminations

      “2025 16 1 0 0 0 0 17”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 FL 2024 — reacquired

      “2024 17 0 0 0 0 1 16”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 GA 2025 — opened

      “2025 20 0 0 0 0 0 20”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

    • Item 20 · PDF p. 57 · 2026 FDD

      Our summary: Table 3 GA 2023 — end

      “2023 22 0 0 0 0 0 22”

      Note: Item 20 claim is state/geography-specific or not a national/systemwide Total row; it cannot be verified under the required scope.

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