Franopolis

    Smashburger

    Franchise research report · reviewed 2026 disclosure data

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

    Reviewed sources

    Smashburger franchise specializes in "smashed" burger preparation, creating thin, crispy-edged patties that have made it a distinctive player in the competitive

    Headline figures

    Quick facts

    How much does it cost to open a Smashburger franchise?
    The Smashburger Franchise Disclosure Document reports an estimated initial investment of $1,239,500 (2026 FDD, Item 7, PDF p. 19). This is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Smashburger charge?
    The disclosed ongoing royalty is $6 (2026 FDD, Item 6, PDF p. 14). The brand or advertising fund contribution is $2 (2026 FDD, Item 6, PDF p. 14). Other recurring fees are listed in Item 6. Details
    Does Smashburger disclose financial performance (Item 19)?
    No. The reviewed Smashburger FDD states that it does not make a financial performance representation in Item 19. Details
    How many Smashburger locations are there?
    The FDD reports 172 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 49). Existing locations do not indicate territory availability. Details

    From reviewed FDD figures only. Not a recommendation or projection.

    What the disclosures show

    1. 1Opening costs are estimated at $1,239,500 in the 2026 FDD (Item 7); several initial fee options apply.
    2. 2The franchisor makes no financial performance representation in Item 19.
    3. 3Outlets declined by 22 in 2025, to 172 (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

    Total estimated initial investment

    2026 FDD · Item 7 · PDF p. 19

    Ongoing Fees — Item 6

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

    Royalty weekly gross salesMain ongoing fee

    39 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 Smashburger 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 2025 of each year.

    2026 FDD · Item 20 · PDF p. 49

    Net −39 outlets, 2023–2025

    0211202319420241722025−17−22

    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 ($1,239,500) vary most by market, and why?

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

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

    • Reported units decreased from 194 to 172 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?

    • 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]Estimated initial investment — Item 7 · PDF p. 19
    2. [2]Outlet counts — Item 20, Table 1 · PDF p. 49

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

    Territory & operations

    69 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
    2026accounts receivable, net$827
    2026accounts receivable, related partyMore than one value recorded for this year — open the FDD source before comparing$126
    2026marketing fund trustMore than one value recorded for this year — open the FDD source before comparing$72
    2026total assets$2,817
    2026marketing fund trustMore than one value recorded for this year — open the FDD source before comparing$72
    2026current$95
    2026deferred revenueMore than one value recorded for this year — open the FDD source before comparing$322
    2026total liabilities$489
    2026contributed capital$187
    2026s equity$2,328
    2026total liabilities and member's equity$2,817
    2026royalty fees$1,201
    2026affiliateMore than one value recorded for this year — open the FDD source before comparing$38
    2026credit loss expense total costs and expenses$1,236
    2026interest income$3
    2026net incomeMore than one value recorded for this year — open the FDD source before comparing$28
    2026accounts receivable$66
    2026accounts receivable, related partyMore than one value recorded for this year — open the FDD source before comparing-$76
    2026deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing$59
    2026accounts payable, related party-$32
    2026marketing fund trustMore than one value recorded for this year — open the FDD source before comparing$13
    2026repayment of notes receivable$15
    2026note receivable, related party$776
    2026total current liabilities$167
    2026total current assets$1,801
    2026retained earnings$2,141
    2026deferred franchise costsMore than one value recorded for this year — open the FDD source before comparing$1,016
    2026franchise fees$60
    2026total revenues$1,261
    2026affiliateMore than one value recorded for this year — open the FDD source before comparing$1,198
    2026net incomeMore than one value recorded for this year — open the FDD source before comparing$28
    2026marketing fund trustMore than one value recorded for this year — open the FDD source before comparing-$13
    2026deferred revenueMore than one value recorded for this year — open the FDD source before comparing-$60
    2026net cash provided byMore than one value recorded for this year — open the FDD source before comparing-$15
    2026net cash provided byMore than one value recorded for this year — open the FDD source before comparing$15
    —member contributed capital beginning$187
    —member retained earnings beginning$2,113
    —member equity beginning$2,300
    —net income total equity$28
    —member contributed capital ending$187
    —member equity ending$2,328
    —net income retained earnings$28
    —member retained earnings ending$2,141

    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.

    Advanced Fresh ConceptsAPAloha Poke CoBrixx Wood Fired PizzaDoner Shack FranchisingFat ShackFox S Pizza Den

    Head-to-head comparisons

    Smashburger vs Advanced Fresh ConceptsSmashburger vs Aloha Poke CoSmashburger vs Brixx Wood Fired Pizza
    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

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