II
IHOP International House of Pancakes
Franchise research report · reviewed 2026 disclosure data
Researching IHOP International House of Pancakes franchise opportunities? Every figure below is cited to the FDD.
Reviewed sources
IHOP is a restaurant brand serving pancakes and other breakfast, lunch and dinner items throughout the day. Its menu includes individual meals and family-style packages available for takeout or delivery.
Headline figures
Quick facts
- How much does it cost to open an IHOP International House of Pancakes franchise?
- The IHOP International House of Pancakes Franchise Disclosure Document reports separate estimated initial investments by format: $559,732–$1,090,645 for total (30) fastcasual low (2026 FDD, Item 7, PDF p. 25); $784,382–$1,090,645 for total (30) fullservice low (2026 FDD, Item 7, PDF p. 25); $436,482–$1,090,645 for total (30) quickserve low (2026 FDD, Item 7, PDF p. 25); $616,682–$1,090,645 for total (30) dualbranded low (2026 FDD, Item 7, PDF p. 25). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
- What ongoing fees does IHOP International House of Pancakes charge?
- The disclosed ongoing royalty is 3) The National Advertising Fee will range from — 1% (2026 FDD, Item 6, PDF p. 21). The brand or advertising fund contribution is $4 (2026 FDD, Item 6, PDF p. 21). Other recurring fees are listed in Item 6. Details
- Does IHOP International House of Pancakes disclose financial performance (Item 19)?
- Yes. The IHOP International House of Pancakes FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 54). Figures apply only to the locations and period each one covers. Details
- How many IHOP International House of Pancakes locations are there?
- The FDD reports 3,386 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 55). 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: $559,732 – $1,090,645 (TOTAL (30) FastCasual low); $784,382 – $1,090,645 (TOTAL (30) FullService low); $436,482 – $1,090,645 (TOTAL (30) QuickServe low); $616,682 – $1,090,645 (TOTAL (30) DualBranded low); several initial fee options apply.
- 2Item 19 covers 8 separate groups: revenue and other measures for 6 Franchised locations; revenue and other measures for 4 Franchised locations; other measures and revenue for 20 Franchised locations; revenue and other measures for 10 Franchised locations; other measures and revenue for 1 Franchised locations; other measures and revenue for 24 Franchised locations; other measures and revenue for 8 Franchised locations; revenue and other measures for 4 Franchised locations. They are not combined.
- 3Outlets declined by 20 in 2025, to 3,386 (Systemwide, 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 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 (30) QuickServe lowPDF p. 25$436,482 – $1,090,645
- TOTAL (30) FastCasual lowPDF p. 25$559,732 – $1,090,645
- TOTAL (30) DualBranded lowPDF p. 25$616,682 – $1,090,645
- TOTAL (30) FullService lowPDF p. 25$784,382 – $1,090,645
Ongoing Fees — Item 6
Selected recurring charges; payment bases and conditions remain attached to each fee.
- ing Royalty in other circumstances.Main ongoing fee
44 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?
8 separate populations, shown apart. Revenue is not owner income.
Locations counted: not stated in the reviewed record
Revenue and other measures · 6 locations
- Who is counted
- Nontraditional Northeast
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 4 locations
- Who is counted
- Nontraditional West
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 20 locations
- Who is counted
- Nontraditional South
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 10 locations
- Who is counted
- Nontraditional Midwest
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 1 locations
- Who is counted
- Nontraditional West
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 24 locations
- Who is counted
- Nontraditional South
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 8 locations
- Who is counted
- Nontraditional Midwest
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
Locations counted: not stated in the reviewed record
Revenue and other measures · 4 locations
- Who is counted
- Nontraditional Northeast
- Excluded
- Traditional anddualbranded excluded;4restaurantsopened2025included
- Method
- Unaudited royaltyreports;sourceannualized;grosssalesexcludesrefundsallowances,taxes,leasedvending/phonegross(commissionincluded)
These groups are never combined.
Outlet Changes — Item 20
How has the outlet count changed?
Systemwide, as labeled in the FDD · counts as of 2025 of each year.
2026 FDD · Item 20 · PDF p. 55
Net −20 outlets, 2023–2025
Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2025 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.
Questions to investigate
Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.
For the franchisor
Which line items in the 2026 Item 7 estimate ($436,482 – $1,090,645) 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 3,406 to 3,386 in 2025. 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]Item 19 — Locations counted not stated in the reviewed record — Nontraditional Northeast · PDF p. 54
- [2]Item 19 — Locations counted not stated in the reviewed record — Nontraditional West · PDF p. 54
- [3]Item 19 — Locations counted not stated in the reviewed record — Nontraditional South · PDF p. 54
- [4]Item 19 — Locations counted not stated in the reviewed record — Nontraditional Midwest · PDF p. 54
- [5]Item 19 — Locations counted not stated in the reviewed record — Nontraditional West · PDF p. 54
- [6]Item 19 — Locations counted not stated in the reviewed record — Nontraditional South · PDF p. 54
- [7]Item 19 — Locations counted not stated in the reviewed record — Nontraditional Midwest · PDF p. 54
- [8]Item 19 — Locations counted not stated in the reviewed record — Nontraditional Northeast · PDF p. 54
- [9]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
52 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 year | Measure | Reported value |
|---|---|---|
| 2025 | non-cash conversion of notes receivable | $2 |
| 2025 | related party note receivable | $10,500 |
| 2025 | net change in cash, cash equivalents and restricted cashMore than one value recorded for this year — open the FDD source before comparing | $2,174 |
| 2025 | cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing | $897 |
| 2025 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | $3,063 |
| 2025 | royalties | $99,196 |
| 2025 | bad debt expense | $1,056 |
| 2025 | financing expenses | $77 |
| 2025 | other income, net | $1,551 |
| 2025 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $2,174 |
| 2025 | accounts payable and other accrued liabilities | $93 |
| 2025 | general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing | $204 |
| 2025 | other intangible assets, net | $534 |
| 2025 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $2,012 |
| 2025 | amortization of intangible assets | $12 |
| 2025 | accumulated other comprehensive loss | -$0 |
| 2025 | total franchise revenues | $666 |
| 2025 | cash flows from investing activities principal receipts from notes, equipment contracts and other long-term receivables | $8 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $17 |
| 2025 | net income available to common stockholders | $16 |
| 2025 | otherMore than one value recorded for this year — open the FDD source before comparing | -$2 |
| 2025 | deferred franchise revenue, long-term | $34 |
| 2025 | loss on extinguishment of debt | $1 |
| 2025 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | -$3 |
| 2025 | cash flows from financing activities proceeds from issuance of long-term debt, including revolving line of credit | $600 |
| 2025 | total cost of revenues | $520 |
| 2025 | proceeds from sale of property and equipment | $1 |
| 2025 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | -$1 |
| 2025 | provision for doubtful accounts | $3 |
| 2025 | non-cash stock-based compensation expense | $13 |
| 2025 | repayment of long-term debt | -$594 |
| 2025 | dividends paid on common stock | -$31 |
| 2025 | payment of debt issuance costs | -$12 |
| 2025 | repurchase of restricted stock for tax payments upon vesting | -$2 |
| 2025 | long - term deferred revenue | $19,915 |
| 2025 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $23,027 |
| 2025 | contributed capital | $35,465 |
| 2025 | retained earningsMore than one value recorded for this year — open the FDD source before comparing | $478,938 |
| 2025 | supplemental disclosures interest paid | $84 |
| 2025 | income taxes paid | $16 |
| 2025 | other current assetsMore than one value recorded for this year — open the FDD source before comparing | $218 |
| 2025 | total current assetsMore than one value recorded for this year — open the FDD source before comparing | $21,245 |
| 2025 | long - term restricted cash | $22,000 |
| 2025 | other non - current assets | $2,860 |
| 2025 | total assetsMore than one value recorded for this year — open the FDD source before comparing | $64,112 |
| 2025 | other accrued expensesMore than one value recorded for this year — open the FDD source before comparing | $49 |
| 2025 | total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $3,112 |
| 2025 | total member’s equity | $41,085 |
| 2025 | advertising fees | $78,332 |
| 2025 | franchise, development and other fees | $4,336 |
| 2025 | total franchise revenue s | $181,864 |
| 2025 | financing revenues | $670 |
| 2025 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $182,534 |
| 2025 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $78,332 |
| 2025 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $1,209 |
| 2025 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $80,597 |
| 2025 | general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing | $26,130 |
| 2025 | total costs and expenses | $106,804 |
| 2025 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $77,281 |
| 2025 | due from member, net | -$74,160 |
| 2025 | changes in operating assets and liabilities receivables | $625 |
| 2025 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | -$273 |
| 2025 | other accrued expensesMore than one value recorded for this year — open the FDD source before comparing | -$51 |
| 2025 | other assetsMore than one value recorded for this year — open the FDD source before comparing | -$2,304 |
| 2025 | cash , cash equivalents and restricted cash at end of year | $22,897 |
| 2025 | total stockholders' deficit | -$274 |
| 2025 | royalties, franchise fees and other | $384 |
| 2025 | advertising revenues | $282 |
| 2025 | cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing | $128 |
| 2025 | restricted cash | $52 |
| 2025 | prepaid expensesMore than one value recorded for this year — open the FDD source before comparing | $49 |
| 2025 | other current assetsMore than one value recorded for this year — open the FDD source before comparing | $4 |
| 2025 | total current assetsMore than one value recorded for this year — open the FDD source before comparing | $352 |
| 2025 | operating lease right-of-use assets | $329 |
| 2025 | goodwill | $250 |
| 2025 | property and equipment, net | $161 |
| 2025 | non-current restricted cash | $22 |
| 2025 | other non-current assets, net | $57 |
| 2025 | total assetsMore than one value recorded for this year — open the FDD source before comparing | $1,738 |
| 2025 | gift card liability | $183 |
| 2025 | current portion of operating leases obligations | $68 |
| 2025 | current portion of finance leases | $7 |
| 2025 | accrued interest payableMore than one value recorded for this year — open the FDD source before comparing | $7 |
| 2025 | dividends payable | $3 |
| 2025 | deferred franchise revenue, short-term | $6 |
| 2025 | other non-current liabilities | $35 |
| 2025 | total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $366 |
| 2025 | long-term debt, net, less current portion | $1,188 |
| 2025 | operating lease obligations, less current portion | $305 |
| 2025 | finance lease obligations, less current portion | $32 |
| 2025 | deferred income taxes, net | $51 |
| 2025 | additional paid-in-capital | $240 |
| 2025 | retained earningsMore than one value recorded for this year — open the FDD source before comparing | $175 |
| 2025 | company-owned restaurant revenues | $105 |
| 2025 | rental revenues | $109 |
| 2025 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $879 |
| 2025 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $279 |
| 2025 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $44 |
| 2025 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $323 |
| 2025 | company-owned restaurant expenses | $113 |
| 2025 | rental expenses | $84 |
| 2025 | gross profit | $359 |
| 2025 | interest expense, net | $78 |
| 2025 | closure and impairment charges | $40 |
| 2025 | income before income taxes | $25 |
| 2025 | income tax provision | -$8 |
| 2025 | total comprehensive income | $17 |
| 2025 | net income allocated to unvested restricted stock | -$1 |
| 2025 | basicMore than one value recorded for this year — open the FDD source before comparing | $1 |
| 2025 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $1 |
| 2025 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $14 |
| 2025 | depreciation and amortization | $43 |
| 2025 | basicMore than one value recorded for this year — open the FDD source before comparing | $14 |
| 2025 | non-cash closure and impairment charges | $40 |
| 2025 | non-cash interest expense | $4 |
| 2025 | deferred income taxes | -$4 |
| 2025 | receivables | -$10 |
| 2025 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | -$0 |
| 2025 | otherMore than one value recorded for this year — open the FDD source before comparing | -$3 |
| 2025 | prepaid expensesMore than one value recorded for this year — open the FDD source before comparing | -$10 |
| 2025 | other assetsMore than one value recorded for this year — open the FDD source before comparing | -$9 |
| 2025 | operating lease assets and liabilities | -$14 |
| 2025 | gift card receivables and payables | $5 |
| 2025 | accounts payable and other accrued expenses | $14 |
| 2025 | accrued interest payableMore than one value recorded for this year — open the FDD source before comparing | $1 |
| 2025 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $89 |
| 2025 | additions to property and equipment | -$36 |
| 2025 | additions to long-term receivables | -$5 |
| 2025 | acquisition of business, net of cash acquired | $2 |
| 2025 | cash flows used in investing activities | -$32 |
| 2025 | cash, cash equivalents and restricted cash at beginning of year | $249 |
| 2025 | repurchase of common stock | -$61 |
| 2025 | principal payments of finance lease and financing obligations | -$5 |
| 2025 | cash, cash equivalents and restricted cash at end of year | $202 |
| 2025 | cash flows used in financing activities | -$104 |
| 2025 | net change in cash, cash equivalents and restricted cashMore than one value recorded for this year — open the FDD source before comparing | -$47 |
| 2024 | non-cash balance sheet gross-up of receivables and other accrued expenses | $11 |
| 2024 | retained earningsMore than one value recorded for this year — open the FDD source before comparing | $401,657 |
| 2024 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $171,683 |
| 2024 | retained earningsMore than one value recorded for this year — open the FDD source before comparing | $184 |
| 2024 | other income, netMore than one value recorded for this year — open the FDD source before comparing | $1,570 |
| 2024 | cash, cash equivalents and restricted cash at end of year | $249 |
| 2024 | franchise, development and other fees | $4,444 |
| 2024 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $74,794 |
| 2024 | related party note receivableMore than one value recorded for this year — open the FDD source before comparing | $7,000 |
| 2024 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | $1,040 |
| 2024 | advertising revenues | $290 |
| 2024 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $451 |
| 2024 | receivables, net | $19,474 |
| 2024 | additional paid-in-capital | $255 |
| 2024 | total current assetsMore than one value recorded for this year — open the FDD source before comparing | $27,739 |
| 2024 | total current assetsMore than one value recorded for this year — open the FDD source before comparing | $386 |
| 2024 | dividends payable | $8 |
| 2024 | non-current restricted cash | $20 |
| 2024 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $76,083 |
| 2024 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $812 |
| 2024 | accounts payable and other accrued liabilities | $76 |
| 2024 | current portion of operating leases obligations | $65 |
| 2024 | current portion of long-term debt | $100 |
| 2024 | basicMore than one value recorded for this year — open the FDD source before comparing | $15 |
| 2024 | prepaid expensesMore than one value recorded for this year — open the FDD source before comparing | $39 |
| 2024 | goodwill | $249 |
| 2024 | total franchise revenues | $686 |
| 2024 | re lated party note receivable | $350 |
| 2024 | additions to property and equipment | -$14 |
| 2024 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $45 |
| 2024 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $1 |
| 2024 | cash flows used in investing activities | -$9 |
| 2024 | cash, cash equivalents and restricted cash at beginning of year | $201 |
| 2024 | other non-current liabilities | $39 |
| 2024 | respectively | $984 |
| 2024 | gift card receivables and payables | -$1 |
| 2024 | company-owned restaurant expenses | $10 |
| 2024 | financing expensesMore than one value recorded for this year — open the FDD source before comparing | $1 |
| 2024 | income before income taxes | $90 |
| 2024 | total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $3 |
| 2024 | non-cash interest expense | $3 |
| 2024 | dividends paid on common stock | -$31 |
| 2024 | other income, netMore than one value recorded for this year — open the FDD source before comparing | $157 |
| 2024 | repurchase of restricted stock for tax payments upon vesting | -$3 |
| 2024 | long - term deferred revenue | $20,295 |
| 2024 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $23,351 |
| 2024 | supplemental disclosures interest paid | $79 |
| 2024 | income taxes paid | $38 |
| 2024 | non-cash conversion of notes receivable | $3 |
| 2024 | long - term restricted cash | $19,500 |
| 2024 | cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing | $1,223 |
| 2024 | other current assetsMore than one value recorded for this year — open the FDD source before comparing | $42 |
| 2024 | total current assetsMore than one value recorded for this year — open the FDD source before comparing | $27,739 |
| 2024 | related party note receivableMore than one value recorded for this year — open the FDD source before comparing | $3,500 |
| 2024 | other non - current assets | $732 |
| 2024 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | $2,956 |
| 2024 | other accrued expensesMore than one value recorded for this year — open the FDD source before comparing | $100 |
| 2024 | total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $3,056 |
| 2024 | total member’s equity | $37,964 |
| 2024 | royalties | $92,783 |
| 2024 | advertising fees | $73,610 |
| 2024 | total franchise revenue s | $170,837 |
| 2024 | financing revenues | $846 |
| 2024 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $73,610 |
| 2024 | bad debt expenseMore than one value recorded for this year — open the FDD source before comparing | $1,457 |
| 2024 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $1,016 |
| 2024 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $76,083 |
| 2024 | financing expensesMore than one value recorded for this year — open the FDD source before comparing | $107 |
| 2024 | general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing | $22,269 |
| 2024 | total costs and expensesMore than one value recorded for this year — open the FDD source before comparing | $98,459 |
| 2024 | due from member, net | -$75,701 |
| 2024 | changes in operating assets and liabilities receivables | $308 |
| 2024 | other accrued expensesMore than one value recorded for this year — open the FDD source before comparing | -$824 |
| 2024 | other assetsMore than one value recorded for this year — open the FDD source before comparing | -$623 |
| 2024 | net change in cash, cash equivalents and restricted cashMore than one value recorded for this year — open the FDD source before comparing | $451 |
| 2024 | cash , cash equivalents and restricted cash at beginning of year | $20,272 |
| 2024 | cash , cash equivalents and restricted cash at end of year | $20,723 |
| 2024 | long-term restricted cash | $19,500 |
| 2024 | total assetsMore than one value recorded for this year — open the FDD source before comparing | $61,315 |
| 2024 | accumulated other comprehensive loss | -$0 |
| 2024 | total stockholders' deficit | -$216 |
| 2024 | royalties, franchise fees and other | $396 |
| 2024 | bad debt expenseMore than one value recorded for this year — open the FDD source before comparing | $1,457 |
| 2024 | total costs and expensesMore than one value recorded for this year — open the FDD source before comparing | $9 |
| 2024 | transfer from due from member to member’s equity | $75,701 |
| 2024 | cash and cash equivalentsMore than one value recorded for this year — open the FDD source before comparing | $187 |
| 2024 | restricted cash | $42 |
| 2024 | other current assetsMore than one value recorded for this year — open the FDD source before comparing | $2 |
| 2024 | other intangible assets, net | $576 |
| 2024 | operating lease right-of-use assets | $324 |
| 2024 | property and equipment, net | $156 |
| 2024 | other non-current assets, net | $45 |
| 2024 | total assetsMore than one value recorded for this year — open the FDD source before comparing | $1,791 |
| 2024 | gift card liability | $178 |
| 2024 | current portion of finance leases | $6 |
| 2024 | accrued interest payableMore than one value recorded for this year — open the FDD source before comparing | $6 |
| 2024 | deferred franchise revenue, short-term | $6 |
| 2024 | total current liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $445 |
| 2024 | long-term debt, net, less current portion | $1,087 |
| 2024 | operating lease obligations, less current portion | $311 |
| 2024 | finance lease obligations, less current portion | $34 |
| 2024 | deferred income taxes, net | $55 |
| 2024 | deferred franchise revenue, long-term | $37 |
| 2024 | total liabilitiesMore than one value recorded for this year — open the FDD source before comparing | $2,007 |
| 2024 | company-owned restaurant revenues | $9 |
| 2024 | rental revenues | $117 |
| 2024 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $295 |
| 2024 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $340 |
| 2024 | rental expenses | $87 |
| 2024 | total cost of revenues | $437 |
| 2024 | gross profit | $375 |
| 2024 | general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing | $197 |
| 2024 | interest expense, net | $72 |
| 2024 | closure and impairment charges | $9 |
| 2024 | amortization of intangible assets | $11 |
| 2024 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | -$3 |
| 2024 | income tax provision | -$25 |
| 2024 | net incomeMore than one value recorded for this year — open the FDD source before comparing | $65 |
| 2024 | total comprehensive income | $65 |
| 2024 | net income allocated to unvested restricted stock | -$2 |
| 2024 | net income available to common stockholders | $63 |
| 2024 | basicMore than one value recorded for this year — open the FDD source before comparing | $4 |
| 2024 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $4 |
| 2024 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $15 |
| 2024 | depreciation and amortization | $39 |
| 2024 | non-cash stock-based compensation expense | $16 |
| 2024 | non-cash closure and impairment charges | $9 |
| 2024 | deferred income taxes | -$7 |
| 2024 | receivables | -$1 |
| 2024 | provision for doubtful accounts | $1 |
| 2024 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | -$3 |
| 2024 | otherMore than one value recorded for this year — open the FDD source before comparing | -$4 |
| 2024 | prepaid expensesMore than one value recorded for this year — open the FDD source before comparing | $8 |
| 2024 | other assetsMore than one value recorded for this year — open the FDD source before comparing | $5 |
| 2024 | operating lease assets and liabilities | -$13 |
| 2024 | accounts payable and other accrued expenses | -$7 |
| 2024 | accrued interest payableMore than one value recorded for this year — open the FDD source before comparing | -$0 |
| 2024 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | -$3 |
| 2024 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $108 |
| 2024 | cash flows from investing activities principal receipts from notes, equipment contracts and other long-term receivables | $12 |
| 2024 | proceeds from sale of property and equipment | $3 |
| 2024 | additions to long-term receivables | -$1 |
| 2024 | acquisition of business, net of cash acquired | -$9 |
| 2024 | otherMore than one value recorded for this year — open the FDD source before comparing | -$1 |
| 2024 | repurchase of common stock | -$12 |
| 2024 | principal payments of finance lease and financing obligations | -$6 |
| 2024 | cash flows used in financing activities | -$52 |
| 2024 | net change in cash, cash equivalents and restricted cashMore than one value recorded for this year — open the FDD source before comparing | $48 |
| 2023 | cash, cash equivalents and restricted cash at end of year | $201 |
| 2023 | total current assets | $21,032 |
| 2023 | financing revenues | $1,086 |
| 2023 | long-term restricted cash | $19,500 |
| 2023 | long-term receivables, net | $10,838 |
| 2023 | restricted cash | $83 |
| 2023 | total assets | $62,006 |
| 2023 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $43 |
| 2023 | repayments of revolving credit facility | -$30 |
| 2023 | long-term deferred revenue | $19,269 |
| 2023 | related party note receivable, non-current | $10,500 |
| 2023 | financing expenses | $135 |
| 2023 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $161,778 |
| 2023 | other franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $2,079 |
| 2023 | other income, net | $1,541 |
| 2023 | cash and restricted cash at beginning of year | $20,259 |
| 2023 | company-owned restaurant revenues | $2 |
| 2023 | gross profit | $397 |
| 2023 | proceeds from stock options exercised | $4 |
| 2023 | interest expense, net | $70 |
| 2023 | receivables | $2 |
| 2023 | accounts payable and other accrued expenses | -$29 |
| 2023 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $301 |
| 2023 | depreciation and amortization | $36 |
| 2023 | cash, cash equivalents and restricted cash at beginning of year | $325 |
| 2023 | repayment of long-term debt | -$652 |
| 2023 | other assets | $9 |
| 2023 | payment of debt issuance costs | -$8 |
| 2023 | dividends paid on common stock | -$32 |
| 2023 | contributed capital | $35,465 |
| 2023 | supplemental disclosures interest paid | $74 |
| 2023 | income taxes paid | $28 |
| 2023 | non-cash conversion of notes receivable | $1 |
| 2023 | cash | $689 |
| 2023 | receivables, net | $20,245 |
| 2023 | other current assets | $15 |
| 2023 | total current liabilities | $3,866 |
| 2023 | other non - current assets | $136 |
| 2023 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | $2,942 |
| 2023 | other accrued expenses | $924 |
| 2023 | total liabilities | $23,135 |
| 2023 | royalties, franchise fees and other | $406 |
| 2023 | advertising revenues | $301 |
| 2023 | franchise revenues | $160,692 |
| 2023 | advertising expensesMore than one value recorded for this year — open the FDD source before comparing | $69,010 |
| 2023 | retained earnings | $1 |
| 2023 | total member’s equity | $7 |
| 2023 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $73,330 |
| 2023 | total costs and expenses | $96,318 |
| 2023 | bad debt expense | $2,241 |
| 2023 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $3,513 |
| 2023 | net change in cash and restricted cash | $13 |
| 2023 | transfer from due from member to member’s equity | $59,416 |
| 2023 | total franchise revenues | $706 |
| 2023 | rental revenues | $123 |
| 2023 | total revenuesMore than one value recorded for this year — open the FDD source before comparing | $831 |
| 2023 | total franchise expensesMore than one value recorded for this year — open the FDD source before comparing | $344 |
| 2023 | company-owned restaurant expenses | $2 |
| 2023 | rental expenses | $88 |
| 2023 | total cost of revenues | $434 |
| 2023 | general and administrative expenses | $198 |
| 2023 | closure and impairment charges | $4 |
| 2023 | amortization of intangible assets | $11 |
| 2023 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | $2 |
| 2023 | income before income taxes | $112 |
| 2023 | income tax provision | -$15 |
| 2023 | net income | $97 |
| 2023 | total comprehensive income | $97 |
| 2023 | net income allocated to unvested restricted stock | -$2 |
| 2023 | net income available to common stockholders | $95 |
| 2023 | basicMore than one value recorded for this year — open the FDD source before comparing | $6 |
| 2023 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $6 |
| 2023 | basicMore than one value recorded for this year — open the FDD source before comparing | $15 |
| 2023 | dilutedMore than one value recorded for this year — open the FDD source before comparing | $15 |
| 2023 | non-cash stock-based compensation expense | $12 |
| 2023 | non-cash closure and impairment charges | $4 |
| 2023 | non-cash interest expense | $4 |
| 2023 | deferred income taxes | -$14 |
| 2023 | gain) loss on disposition of assetsMore than one value recorded for this year — open the FDD source before comparing | $2 |
| 2023 | otherMore than one value recorded for this year — open the FDD source before comparing | -$4 |
| 2023 | prepaid expenses | $3 |
| 2023 | operating lease assets and liabilities | $7 |
| 2023 | gift card receivables and payables | $5 |
| 2023 | accrued interest payable | $1 |
| 2023 | deferred revenueMore than one value recorded for this year — open the FDD source before comparing | -$4 |
| 2023 | cash flows provided by operating activitiesMore than one value recorded for this year — open the FDD source before comparing | $131 |
| 2023 | cash flows from investing activities principal receipts from notes, equipment contracts and other long-term receivables | $9 |
| 2023 | additions to property and equipment | -$37 |
| 2023 | additions to long-term receivables | -$1 |
| 2023 | acquisition of business, net of cash acquired | -$0 |
| 2023 | otherMore than one value recorded for this year — open the FDD source before comparing | -$1 |
| 2023 | cash flows used in investing activities | -$30 |
| 2023 | cash flows from financing activities proceeds from issuance of long-term debt, including revolving line of credit | $530 |
| 2023 | net change in cash, cash equivalents and restricted cash | -$124 |
| 2023 | repurchase of common stock | -$26 |
| 2023 | principal payments of finance lease and financing obligations | -$6 |
| 2023 | non-cash balance sheet gross-up of receivables and other accrued expenses | -$11 |
| 2023 | repurchase of restricted stock for tax payments upon vesting | -$4 |
| 2023 | tax payments for share settlement of restricted stock units | -$1 |
| 2023 | cash flows used in financing activities | -$225 |
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 and overlapping investment range. This is not a ranking or recommendation.
Eggs Up Grill
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Benihana National CorpBBBonchon Business and Restaurant
The Melting Pot Restaurants, Inc.
7 BREWHead-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 21 · PDF p. 136 · 2026 FDD
Our summary: Re lated party note receivable — 2024
“Re lated party note receivable 3,50 0”
Note: The PDF text layer splits or truncates the amount, and the submission tool rejected a correction because a complete verbatim figure could not be quoted from the extracted page. I cannot verify the full amount from the available page text.
Item 21 · PDF p. 137 · 2026 FDD
Our summary: Other franchise expenses — 2024
“Other franchise expenses 1, 0”
Note: The page text extraction separates digits within the amount, and the correction tool rejected a complete-value quote as not verbatim or as lacking the full numeric string. The exact value cannot be verified from the accessible text layer.
Item 21 · PDF p. 136 · 2026 FDD
Our summary: respectively — 2024
“respectively 9,84 4”
Note: The PDF text layer splits or truncates the amount, and the submission tool rejected a correction because a complete verbatim figure could not be quoted from the extracted page. I cannot verify the full amount from the available page text.
Item 21 · PDF p. 137 · 2026 FDD
Our summary: Financing expenses — 2024
“Financing expenses 1 0”
Note: The page text extraction separates digits within the amount, and the correction tool rejected a complete-value quote as not verbatim or as lacking the full numeric string. The exact value cannot be verified from the accessible text layer.
Item 21 · PDF p. 136 · 2026 FDD
Our summary: Total current liabilities — 2024
“Total current liabilities 3, 0”
Note: The PDF text layer splits or truncates the amount, and the submission tool rejected a correction because a complete verbatim figure could not be quoted from the extracted page. I cannot verify the full amount from the available page text.
Item 21 · PDF p. 137 · 2026 FDD
Our summary: Other income, net — 2024
“Other income, net 1,57 0”
Note: The page text extraction separates digits within the amount, and the correction tool rejected a complete-value quote as not verbatim or as lacking the full numeric string. The exact value cannot be verified from the accessible text layer.
Item 21 · PDF p. 137 · 2026 FDD
Our summary: Total costs and expenses — 2024
“Total costs and expenses 9 8”
Note: The page text extraction separates digits within the amount, and the correction tool rejected a complete-value quote as not verbatim or as lacking the full numeric string. The exact value cannot be verified from the accessible text layer.
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.