Franopolis
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    Nathan S Famous Systems

    Franchise research report · reviewed 2026 disclosure data

    Researching Nathan S Famous Systems franchise opportunities? Every figure below is cited to the FDD.

    Reviewed sources

    Nathan’s Famous restaurants serve hot dogs, fries, burgers, sandwiches, chicken, and other menu items to walk-in customers. Locations operate in several formats, including standalone restaurants, food court outlets, and other venues.

    Headline figures

    Quick facts

    How much does it cost to open a Nathan S Famous Systems franchise?
    The Nathan S Famous Systems Franchise Disclosure Document reports separate estimated initial investments by format: $56,510–$202,180 for total initial investment (nathan's bmp operation): $56,510–$202,180 (2026 FDD, Item 7, PDF p. 16); $45,970–$122,245 for total initial investment (arthur treacher's bmp operation): $45,970–$122,245 (2026 FDD, Item 7, PDF p. 17). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    Does Nathan S Famous Systems disclose financial performance (Item 19)?
    No. The reviewed Nathan S Famous Systems FDD states that it does not make a financial performance representation in Item 19. Details
    How many Nathan S Famous Systems locations are there?
    The FDD reports 184 outlets at the end of 2026 (2026 FDD, Item 20, PDF p. 32). 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: $56,510 – $202,180 (Total Initial Investment (Nathan's BMP Operation): $56,510–$202,180); $45,970 – $122,245 (Total Initial Investment (Arthur Treacher's BMP Operation): $45,970–$122,245); several initial fee options apply.
    2. 2The franchisor makes no financial performance representation in Item 19.
    3. 3Outlets declined by 14 in 2026, to 184 (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.

    • Total Initial Investment (Arthur Treacher's BMP Operation): $45,970–$122,245PDF p. 17$45,970 – $122,245
    • Total Initial Investment (Nathan's BMP Operation): $56,510–$202,180PDF p. 16$56,510 – $202,180

    Ongoing Fees — Item 6

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

    5 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?

    No financial performance representation in Item 19

    The reviewed 2026 FDD for Nathan S Famous Systems has no Item 19 figures on record. Franopolis does not estimate revenue or earnings in their place; ask the franchisor and current owners what unit-level information they can share.

    Outlet Changes — Item 20

    How has the outlet count changed?

    United States, as labeled in the FDD · counts as of 2026 of each year.

    2026 FDD · Item 20 · PDF p. 32

    Net −20 outlets, 2024–2026

    0204202419820251842026−6−14

    Year-end counts reported in Item 20. The scale starts at zero, so the line looks nearly flat; the labels between the dots show each year's change. Openings and closures for 2026 haven't been pulled from the Item 20 tables yet, so no turnover or churn is shown.

    Questions to investigate

    Prompts based on what this brand's reviewed disclosures do and don't show — not conclusions. Join free as a member to save questions to your research.

    For the franchisor

    • Which line items in the 2026 Item 7 estimate ($45,970 – $202,180) vary most by market, and why?

    • Which initial fee option would apply to my situation, and what conditions or discounts affect it?

    • Nathan S Famous Systems reports no financial performance figures in Item 19. What information can you share about unit-level results?

    • Reported units decreased from 198 to 184 in 2026. What drove the change?

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

    For current and former owners

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

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

    • 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]Outlet counts — Item 20, Table 1 · PDF p. 32

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

    Territory & operations

    78 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
    2026total liabilities$11,367,997
    2026accrued expenses and other current liabilities$2,452,916
    2026accounts receivable, net$19,813,292
    2026receivables from affiliates, netMore than one value recorded for this year — open the FDD source before comparing$22,296,364
    2026royalties from affiliate$500,325
    2026total current assets$20,865,236
    2026management fee from affiliate$9,708,335
    2026branded products sales$105,768,290
    2026total costs and expenses$111,576,585
    2026prepaid expenses and other current assets-$62,585
    2026receivables from affiliates, netMore than one value recorded for this year — open the FDD source before comparing-$24,834,381
    2026net cash provided by operating activities$99,237
    2026non-cash dividend distributed to affiliate$31,000,000
    2026additional paid-in capital$999,999
    2026retained earnings$31,382,810
    2026advertising fund expense$2,260,209
    2026deferred income taxes, net$426,815
    2026cash$26,087
    2026inventoriesMore than one value recorded for this year — open the FDD source before comparing$736,975
    2026prepaid expenses$288,882
    2026property and equipment, net$162,392
    2026total assets$43,750,807
    2026accounts payable$7,533,186
    2026deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing$185,330
    2026total current liabilities$10,171,432
    2026deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing$480,041
    2026other liabilitiesMore than one value recorded for this year — open the FDD source before comparing$716,524
    2026license royalties$37,417,314
    2026franchise fees and royalties$4,253,203
    2026advertising fund revenue$2,115,952
    2026total revenues$150,055,084
    2026cost of sales$99,351,863
    2026credit loss expense$125,631
    2026depreciation$130,547
    2026income before provision for income taxes$38,478,499
    2026provision for income taxes$9,704,282
    2026net income$28,774,217
    2026other liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$210,010
    2026deferred income taxes$95,249
    2026changes in operating assets and liabilities accounts receivable-$5,900,399
    2026inventoriesMore than one value recorded for this year — open the FDD source before comparing$381,900
    2026other assets, net$13,714
    2026accounts payable, accrued expenses and other current liabilities$1,884,615
    2026deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing-$299,261
    2026cash flows from investing activities purchases of equipment-$93,237
    2026net increase in cash$6,000
    2025deferred income taxes, net$522,064
    2025total costs and expenses$94,439,756
    2025other assets, netMore than one value recorded for this year — open the FDD source before comparing$13,714
    2025total revenues$135,971,505
    2025total current liabilities$8,403,471
    2025advertising fund revenue$2,137,415
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing-$446,657
    2025net cash provided by operating activities$126,671
    2025total liabilities$9,992,653
    2025additional paid-in capital$999,999
    2025retained earnings$33,608,593
    2025advertising fund expense$2,175,697
    2025other liabilitiesMore than one value recorded for this year — open the FDD source before comparing$116,096
    2025receivables from affiliates, netMore than one value recorded for this year — open the FDD source before comparing$28,461,983
    2025cash$20,087
    2025accounts receivable, net$14,038,524
    2025inventoriesMore than one value recorded for this year — open the FDD source before comparing$1,118,875
    2025prepaid expenses$226,297
    2025total current assets$15,403,783
    2025property and equipment, net$199,702
    2025total assets$44,601,246
    2025accounts payable$5,951,026
    2025accrued expenses and other current liabilities$2,150,461
    2025deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing$301,984
    2025deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing$662,648
    2025other liabilitiesMore than one value recorded for this year — open the FDD source before comparing$926,534
    2025branded products sales$91,827,691
    2025license royalties$37,418,139
    2025franchise fees and royalties$4,079,707
    2025royalties from affiliate$508,553
    2025cost of sales$82,461,775
    2025management fee from affiliate$9,382,912
    2025credit loss expense$272,986
    2025depreciation$146,386
    2025income before provision for income taxes$41,531,749
    2025provision for income taxes$10,117,717
    2025net income$31,414,032
    2025deferred income taxes-$57,936
    2025changes in operating assets and liabilities accounts receivable$393,469
    2025prepaid expenses and other current assets$17,920
    2025receivables from affiliates, netMore than one value recorded for this year — open the FDD source before comparing-$32,131,376
    2025other assets, netMore than one value recorded for this year — open the FDD source before comparing$20,571
    2025accounts payable, accrued expenses and other current liabilities$598,184
    2025deferred franchise feesMore than one value recorded for this year — open the FDD source before comparing-$217,004
    2025cash flows from investing activities purchases of equipment-$119,671
    2025net increase in cash$7,000
    2024income before provision for income taxes$38,786,900
    2024credit loss expense$156,693
    2024net income$29,236,925
    2024deferred income taxes$186,522
    2024other assets, net$20,573
    2024accounts payable, accrued expenses and other current liabilities-$650,937
    2024depreciation$144,528
    2024other liabilities$73,785
    2024cash, end of year$13,087
    2024branded products sales$86,489,134
    2024license royalties$33,580,751
    2024franchise fees and royalties$4,208,269
    2024royalties from affiliate$484,105
    2024advertising fund expense$2,058,615
    2024advertising fund revenue$2,141,680
    2024total revenues$126,903,939
    2024cost of sales$75,965,860
    2024management fee from affiliate$9,791,343
    2024total costs and expenses$88,117,039
    2024provision for income taxes$9,549,975
    2024changes in operating assets and liabilities accounts receivable-$219,807
    2024inventories-$261,971
    2024prepaid expenses and other current assets$103,125
    2024receivables from affiliates, net-$28,231,027
    2024deferred franchise fees-$376,863
    2024net cash provided by operating activities$181,546
    2024cash flows from investing activities purchases of equipment-$175,796
    2024net increase in cash$5,750
    2024cash, beginning of year$7,337

    These figures describe the franchisor company, not individual franchise locations.

    SBA-backed loans to franchisees

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    Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.

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    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

    Not reviewed

    Agreement term

    Not reviewed

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