Franopolis
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    Toppers Pizza

    Franchise research report · reviewed 2026 disclosure data

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

    Reviewed sources

    Toppers Pizza franchise specializes in late-night pizza delivery and takeout, catering to college towns and urban markets with unique specialty pizzas and exten

    Headline figures

    Toppers Pizza quick facts

    Is Toppers Pizza a franchise?
    Yes. Toppers Pizza offers franchises through a Franchise Disclosure Document. At the end of 2025, it reported 108 franchised and 28 company-owned outlets (2026 FDD, Item 20, PDF p. 61).
    How much does it cost to open a Toppers Pizza franchise?
    The Toppers Pizza Franchise Disclosure Document reports separate estimated initial investments by format: $420,700 for total — new restaurant — $420700 (2026 FDD, Item 7, PDF p. 25); $124,100 for total — $124100 (2026 FDD, Item 7, PDF p. 26). These formats are not combined. Each is the franchisor's disclosed estimate, not a quote. Details
    What ongoing fees does Toppers Pizza charge?
    The disclosed ongoing royalty is 5.5% (2026 FDD, Item 6, PDF p. 15). The brand or advertising fund contribution is 3% (2026 FDD, Item 6, PDF p. 16). Other recurring fees are listed in Item 6. Details
    How many Toppers Pizza locations are there?
    The FDD reports 136 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 61). Existing locations do not indicate territory availability. Details
    Is Toppers Pizza a good franchise to buy?
    Franopolis does not rate or recommend franchises. From the reviewed FDD: no reviewed Item 19 figures are on file here, so check the FDD's Item 19 directly; Item 20 lists outlet openings, closures and transfers; Item 6 includes a brand or advertising fund contribution on top of royalty; Item 20 also lists current and former franchisees you can contact. Review the full FDD with a franchise attorney and accountant before deciding.

    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: $420,700 (TOTAL — new restaurant — $420700); $124,100 (TOTAL — $124100); several initial fee options apply.
    2. 2Item 19 has not been reviewed yet.
    3. 3Outlets declined by 6 in 2025, to 136 (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.

    • $124100PDF p. 26$124,100
    • new restaurant — $420700PDF p. 25$420,700

    Ongoing Fees — Item 6

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

    Continuing Royalty — 5.5%Main ongoing fee

    51 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 Toppers Pizza 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 December28 2025 of each year.

    2026 FDD · Item 20 · PDF p. 61

    Net +82 outlets, 2023–2025

    05420233220241362025−22+104

    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 ($124,100 – $420,700) vary most by market, and why?

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

    • Does the current FDD include an Item 19 financial performance representation?

    • Reported units decreased from 142 to 136 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]Outlet counts — Item 20, Table 1 · PDF p. 61

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

    Territory & operations

    66 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
    2026supplies$7,341
    2026total current liabilities$869,248
    2026cash and cash equivalents$101,597
    2026gift card cash$9,245
    2026accounts receivable$319,710
    2026total current assets$549,265
    2026other assets right of use lease$2,450,220
    2026due from related parties$8,987,955
    2026total other assets$11,438,175
    2026current liabilities accounts payable$201,267
    2026gift fund liability$72,355
    2026deferred franchise fees$242,705
    2026deferred revenues$75,787
    2026short term lease$14,135
    2026long term debt$1,499,948
    2026total long-term liabilities$4,320,847
    2026total liabilities$5,190,094
    2026stockholder's equity additional paid-in capital$2,525,720
    2026common stock$1,000
    2026treasury stock-$14,000
    2026net incomeMore than one value recorded for this year — open the FDD source before comparing$73,026
    2026total liabilities and equity$12,284,642
    2026revenue total revenue$1,327,955
    2026expenses labor revenue share$45
    2026taxes and benefits$119,220
    2026taxes and benefits revenue share$9
    2026rent revenue share$2
    2026occupancy costs$23,843
    2026accounting and legal$150,084
    2026accounting and legal revenue share$11
    2026franchise advertising revenue share$0
    2026repairs and maintenance$2,332
    2026travel & meals$5,457
    2026travel & meals revenue share$0
    2026franchise incentives$123,898
    2026technology$87,566
    2026technology revenue share$7
    2026miscellaneous revenue share$3
    2026total expenses$1,174,305
    2026net operating income$153,650
    2026net operating income revenue share$12
    2026other income$3,172
    2026other expenses-$5,000
    2026other expenses revenue share-$0
    2026ebitda revenue share$11
    2026net incomeMore than one value recorded for this year — open the FDD source before comparing$73,025
    2026net income revenue share$6
    2026sales & use tax$142
    2026prepaid expenses$118,713
    2026long-term liabilities due to related parties$290,010
    2026total assets$12,284,642
    2026accrued payroll$92,066
    2026accrued expenses$170,791
    2026net pp&e and goodwill$297,202
    2026long term lease$2,530,889
    2026retained earnings$4,508,801
    2026total stockholder's equity$7,094,547
    2026repairs and maintenance revenue share$0
    2026franchise incentives revenue share$9
    2026revenue total revenue revenue share$100
    2026expenses labor$590,787
    2026rent$27,564
    2026supplies revenue share$1
    2026miscellaneous$34,213
    2026ebitda$151,822
    2026interest / depreciation / amortization / tax$78,797
    2026occupancy costs revenue share$2
    2026franchise advertising$2,000
    2026total expenses revenue share$88
    2026other income revenue share$0
    2026interest / depreciation / amortization / tax revenue share$6
    2025cash and cash equivalents$260,084
    2025prepaid expenses$123,481
    2025total current assets$714,198
    2025property and equipment, net$155,655
    2025other assets software development costs, net$197,925
    2025due$7,077,270
    2025total other assets$9,725,415
    2025total assets$10,595,268
    2025operating lease liabilities, current portion$14,135
    2025accrued expenses$265,942
    2025deferred revenuesMore than one value recorded for this year — open the FDD source before comparing$66,275
    2025total current liabilities$776,593
    2025operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing$2,530,889
    2025total long-term liabilities$2,768,946
    2025total liabilities$3,545,539
    2025total liabilities and member's equity$10,595,268
    2025operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$68,700
    2025operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$122,716
    2025accrued payrollMore than one value recorded for this year — open the FDD source before comparing-$46,040
    2025deferred revenuesMore than one value recorded for this year — open the FDD source before comparing-$113,453
    2025net cash flows provided by operating activities$498,129
    2025cash flows from investing activities capital expenditures-$161,834
    2025collections on notes receivable$128,020
    2025increase in due from affiliated companies-$212,307
    2025net cash flows used in investing activities-$299,022
    2025net change in cash and cash equivalents$199,107
    2025cash and cash equivalents-end of year$260,084
    2025noncash investing and financing activities right-of-use assets and operating lease liabilities recorded$1,103,727
    2025franchise revenueMore than one value recorded for this year — open the FDD source before comparing$8,060,513
    2025franchise revenueMore than one value recorded for this year — open the FDD source before comparing$100
    2025general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$3,012,039
    2025general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$37
    2025payroll relatedMore than one value recorded for this year — open the FDD source before comparing$218,206
    2025payroll relatedMore than one value recorded for this year — open the FDD source before comparing$3
    2025advertisingMore than one value recorded for this year — open the FDD source before comparing$31
    2025insuranceMore than one value recorded for this year — open the FDD source before comparing$437,685
    2025other operating expensesMore than one value recorded for this year — open the FDD source before comparing$727,534
    2025other operating expensesMore than one value recorded for this year — open the FDD source before comparing$9
    2025total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$93
    2025operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$569,393
    2025operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$7
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$207,616
    2025depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$3
    2025other incomeMore than one value recorded for this year — open the FDD source before comparing-$0
    2025interest incomeMore than one value recorded for this year — open the FDD source before comparing$45,856
    2025interest incomeMore than one value recorded for this year — open the FDD source before comparing$1
    2025net other incomeMore than one value recorded for this year — open the FDD source before comparing$38,491
    2025net other incomeMore than one value recorded for this year — open the FDD source before comparing$1
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$400,268
    2025accounts receivable, net$310,894
    2025notes receivable - current$19,739
    2025right-of-use assets$2,450,220
    2025current liabilities accounts payable$311,350
    2025member's equity$7,049,729
    2025long-term liabilities, net of current portion deferred revenues$238,057
    2025operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$125,657
    2025accrued payrollMore than one value recorded for this year — open the FDD source before comparing$118,891
    2025issuance of notes receivable-$52,901
    2025cash and cash equivalents-beginning of year$60,977
    2025supplemental cash flow information disclosures cash paid for interest$7,956
    2025occupancy costsMore than one value recorded for this year — open the FDD source before comparing$2
    2025other incomeMore than one value recorded for this year — open the FDD source before comparing$0
    2025net incomeMore than one value recorded for this year — open the FDD source before comparing$5
    2025occupancy costsMore than one value recorded for this year — open the FDD source before comparing$145,609
    2025other incomeMore than one value recorded for this year — open the FDD source before comparing-$7,956
    2025insuranceMore than one value recorded for this year — open the FDD source before comparing$5
    2025professional feesMore than one value recorded for this year — open the FDD source before comparing$489,543
    2025professional feesMore than one value recorded for this year — open the FDD source before comparing$6
    2025operating incomeMore than one value recorded for this year — open the FDD source before comparing$5
    2025advertisingMore than one value recorded for this year — open the FDD source before comparing$2,460,504
    2025total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$7,491,120
    2025operating incomeMore than one value recorded for this year — open the FDD source before comparing$361,777
    2025other incomeMore than one value recorded for this year — open the FDD source before comparing$591
    2025operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing-$143,362
    2025amortization of right-of-use assets$145,609
    2025operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing-$18,268
    2024prepaid expenses$192,181
    2024total current assets$640,642
    2024other assets software development costs, net$207,473
    2024right-of-use assets$1,492,102
    2024due$6,864,963
    2024total other assets$8,564,538
    2024total assets$9,397,069
    2024current liabilities accounts payable$454,712
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$143,226
    2024accrued payrollMore than one value recorded for this year — open the FDD source before comparing$164,931
    2024total current liabilities$1,081,100
    2024long-term liabilities, net of current portion deferred revenues$113,256
    2024operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing$1,553,252
    2024total long-term liabilities$1,666,508
    2024total liabilities$2,747,608
    2024member's equity$6,649,461
    2024accrued expensesMore than one value recorded for this year — open the FDD source before comparing$30,065
    2024amortization of right-of-use assets$109,651
    2024note receivable written off$20,840
    2024operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing-$20,822
    2024operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$170,478
    2024deferred revenuesMore than one value recorded for this year — open the FDD source before comparing$16,768
    2024operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$89,702
    2024net cash flows provided by operating activities$1,103,049
    2024cash flows from investing activities capital expenditures-$202,606
    2024issuance of notes receivable-$78,431
    2024net cash flows used in investing activities-$1,067,425
    2024cash and cash equivalents-beginning of year$25,353
    2024cash and cash equivalents-end of year$60,977
    2024supplemental cash flow information disclosures cash paid for interest$28,693
    2024franchise revenueMore than one value recorded for this year — open the FDD source before comparing$100
    2024general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$3,427,954
    2024payroll relatedMore than one value recorded for this year — open the FDD source before comparing$3
    2024occupancy costsMore than one value recorded for this year — open the FDD source before comparing$1
    2024advertisingMore than one value recorded for this year — open the FDD source before comparing$2,744,449
    2024advertisingMore than one value recorded for this year — open the FDD source before comparing$30
    2024insuranceMore than one value recorded for this year — open the FDD source before comparing$519,435
    2024insuranceMore than one value recorded for this year — open the FDD source before comparing$6
    2024professional feesMore than one value recorded for this year — open the FDD source before comparing$724,061
    2024professional feesMore than one value recorded for this year — open the FDD source before comparing$8
    2024other operating expensesMore than one value recorded for this year — open the FDD source before comparing$466,266
    2024total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$8,240,745
    2024total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$90
    2024operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$908,509
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$3
    2024operating incomeMore than one value recorded for this year — open the FDD source before comparing$7
    2024other incomeMore than one value recorded for this year — open the FDD source before comparing-$28,693
    2024other incomeMore than one value recorded for this year — open the FDD source before comparing-$0
    2024other incomeMore than one value recorded for this year — open the FDD source before comparing$2,239
    2024net other incomeMore than one value recorded for this year — open the FDD source before comparing-$26,454
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$634,396
    2024net incomeMore than one value recorded for this year — open the FDD source before comparing$7
    2024cash and cash equivalents$60,977
    2024notes receivable - current$94,858
    2024accounts receivable, net$292,626
    2024property and equipment, net$191,889
    2024operating lease liabilities, current portion$13,702
    2024deferred revenuesMore than one value recorded for this year — open the FDD source before comparing$304,529
    2024total liabilities and member's equity$9,397,069
    2024net change in cash and cash equivalents$35,624
    2024accrued payrollMore than one value recorded for this year — open the FDD source before comparing-$130,990
    2024increase in due from affiliated companies-$786,388
    2024noncash investing and financing activities right-of-use assets and operating lease liabilities recorded$84,168
    2024franchise revenueMore than one value recorded for this year — open the FDD source before comparing$9,149,254
    2024general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$38
    2024occupancy costsMore than one value recorded for this year — open the FDD source before comparing$109,651
    2024other incomeMore than one value recorded for this year — open the FDD source before comparing$0
    2024net other incomeMore than one value recorded for this year — open the FDD source before comparing-$0
    2024payroll relatedMore than one value recorded for this year — open the FDD source before comparing$248,929
    2024other operating expensesMore than one value recorded for this year — open the FDD source before comparing$5
    2024operating incomeMore than one value recorded for this year — open the FDD source before comparing$660,850
    2024operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$10
    2024depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$247,659
    2024operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$114,706
    2023prepaid expenses$306,887
    2023property and equipment, net$230,915
    2023right-of-use assets$1,517,585
    2023due$6,078,575
    2023total assets$8,681,886
    2023current liabilities accounts payable$284,234
    2023operating lease liabilities, current portion$13,299
    2023accrued expensesMore than one value recorded for this year — open the FDD source before comparing$113,161
    2023deferred revenuesMore than one value recorded for this year — open the FDD source before comparing$336,063
    2023total current liabilities$1,042,678
    2023long-term liabilities, net of current portion deferred revenues$64,954
    2023total liabilities$2,666,821
    2023member's equity$6,015,065
    2023total liabilities and member's equity$8,681,886
    2023amortization of right-of-use assets$111,651
    2023operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing-$103,689
    2023accrued payrollMore than one value recorded for this year — open the FDD source before comparing-$65,919
    2023deferred revenuesMore than one value recorded for this year — open the FDD source before comparing-$175,472
    2023operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing-$85,699
    2023issuance of notes receivable-$27,122
    2023increase in due from affiliated companies-$966,286
    2023net cash flows used in investing activities-$1,205,313
    2023member distributions-$419,815
    2023net cash flows used in financing activities-$517,699
    2023net change in cash and cash equivalents$1,399
    2023cash and cash equivalents-beginning of year$23,954
    2023cash and cash equivalents-end of year$25,353
    2023supplemental cash flow information disclosures cash paid for interest$15,504
    2023general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$3,807,058
    2023general and administrative expenses salares and wagesMore than one value recorded for this year — open the FDD source before comparing$38
    2023payroll relatedMore than one value recorded for this year — open the FDD source before comparing$281,827
    2023payroll relatedMore than one value recorded for this year — open the FDD source before comparing$3
    2023occupancy costsMore than one value recorded for this year — open the FDD source before comparing$111,651
    2023advertisingMore than one value recorded for this year — open the FDD source before comparing$3,196,753
    2023advertisingMore than one value recorded for this year — open the FDD source before comparing$32
    2023insuranceMore than one value recorded for this year — open the FDD source before comparing$243,581
    2023professional feesMore than one value recorded for this year — open the FDD source before comparing$498,436
    2023other operating expensesMore than one value recorded for this year — open the FDD source before comparing$380,402
    2023other operating expensesMore than one value recorded for this year — open the FDD source before comparing$4
    2023operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$1,553,271
    2023operating income before depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$15
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$255,578
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$3
    2023operating incomeMore than one value recorded for this year — open the FDD source before comparing$1,297,693
    2023operating incomeMore than one value recorded for this year — open the FDD source before comparing$13
    2023other incomeMore than one value recorded for this year — open the FDD source before comparing-$0
    2023other incomeMore than one value recorded for this year — open the FDD source before comparing-$58,923
    2023net other incomeMore than one value recorded for this year — open the FDD source before comparing-$74,427
    2023net other incomeMore than one value recorded for this year — open the FDD source before comparing-$1
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$1,223,266
    2023opening member equity january1 2023$5,211,614
    2023accounts receivable, net$271,804
    2023notes receivable - current$37,267
    2023total current assets$641,311
    2023cash and cash equivalents$25,353
    2023other assets software development costs, net$213,500
    2023accrued payrollMore than one value recorded for this year — open the FDD source before comparing$295,921
    2023total other assets$7,809,660
    2023total long-term liabilities$1,624,143
    2023operating lease liabilitiesMore than one value recorded for this year — open the FDD source before comparing$1,559,189
    2023accrued expensesMore than one value recorded for this year — open the FDD source before comparing$28,937
    2023net cash flows provided by operating activities$1,724,411
    2023cash flows from investing activities capital expenditures-$211,905
    2023cash flows from financing activities bank overdraft-$97,884
    2023franchise revenueMore than one value recorded for this year — open the FDD source before comparing$10,072,979
    2023noncash investing and financing activities right-of-use assets and operating lease liabilities recorded$89,888
    2023franchise revenueMore than one value recorded for this year — open the FDD source before comparing$100
    2023occupancy costsMore than one value recorded for this year — open the FDD source before comparing$1
    2023professional feesMore than one value recorded for this year — open the FDD source before comparing$5
    2023total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$8,519,708
    2023other incomeMore than one value recorded for this year — open the FDD source before comparing-$1
    2023insuranceMore than one value recorded for this year — open the FDD source before comparing$2
    2023other incomeMore than one value recorded for this year — open the FDD source before comparing-$15,504
    2023total general and administrative expensesMore than one value recorded for this year — open the FDD source before comparing$84
    2023net incomeMore than one value recorded for this year — open the FDD source before comparing$12
    2023depreciation and amortizationMore than one value recorded for this year — open the FDD source before comparing$255,578
    2023operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$8,031
    2023operating cash-flow changeMore than one value recorded for this year — open the FDD source before comparing$527,727

    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

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    At a glance

    Business history

    Not reviewed

    Owner participation

    Not reviewed

    Territory language

    Litigation disclosure

    Not reviewed

    Bankruptcy disclosure

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    Agreement term

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