Zaxbys
Franchise research report · reviewed 2026 disclosure data
Researching Zaxbys franchise opportunities? Every figure below is cited to the FDD.
Zaxby’s operates fast-casual restaurants serving chicken fingers, wings, sandwiches, salads, and related sides. Customers order meals at the counter for dine-in, takeout, or delivery, with service formats varying by location.
Headline figures
Quick facts
- How much does it cost to open a Zaxbys franchise?
- The Zaxbys Franchise Disclosure Document reports an estimated initial investment of $52,500 (2026 FDD, Item 7, PDF p. 27). This is the franchisor's disclosed estimate, not a quote. Details
- What is the Zaxbys initial franchise fee?
- The disclosed initial franchise fee for a standard single unit is $35,000 (2026 FDD, Item 5, PDF p. 14). Other fee options (for example multi-unit or conversion) are listed separately in the report. Details
- What ongoing fees does Zaxbys charge?
- The disclosed ongoing royalty is $6 (2026 FDD, Item 6, PDF p. 17). The brand or advertising fund contribution is $2 (2026 FDD, Item 6, PDF p. 18). Other recurring fees are listed in Item 6. Details
- Does Zaxbys disclose financial performance (Item 19)?
- Yes. The Zaxbys FDD includes an Item 19 financial performance representation (2026 FDD, Item 19, PDF p. 53). Figures apply only to the locations and period each one covers. Details
- How many Zaxbys locations are there?
- The FDD reports 1,730 outlets at the end of 2025 (2026 FDD, Item 20, PDF p. 63). Existing locations do not indicate territory availability. Details
From reviewed FDD figures only. Not a recommendation or projection.
What the disclosures show
- 1Opening costs are estimated at $52,500 in the 2026 FDD (Item 7); several initial fee options apply.
- 2Item 19 covers 10 separate groups: other measures for 202 locations; other measures for 203 locations; other measures for 141 locations; other measures for 809 locations; other measures for 140 locations; other measures for 140 locations; other measures for 141 locations; other measures for 776 locations; other measures for 768 locations; other measures for 809 locations. They are not combined.
- 3Outlets grew by 78 in 2025, to 1,730 (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. 27
Standard single-unit franchise fee
2026 FDD · Item 5 · PDF p. 14
Discounted and multi-unit options are separate; see all fees.
Ongoing Fees — Item 6
Selected recurring charges; payment bases and conditions remain attached to each fee.
- 6 OTHER FEES Type of Fee Amount Due Date Remarks (See Notes) Royalty — 6%Main ongoing fee
85 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?
10 separate populations, shown apart. Revenue is not owner income.
Locations counted: not stated in the reviewed record
Other measures · 202 locations
- Who is counted
- Franchised Restaurants; third-party; excluding affiliate-owned
- Period
- Top Quartile
- Excluded
- 140 affiliate-owned; 9 closed over one month; 41 opened during period; 8 closed during period; 6 transferred during period
Locations counted: not stated in the reviewed record
Other measures · 203 locations
- Who is counted
- Franchised Restaurants; third-party; excluding affiliate-owned
- Period
- Bottom Quartile
- Excluded
- 140 affiliate-owned; 9 closed over one month; 41 opened during period; 8 closed during period; 6 transferred during period
Locations counted: not stated in the reviewed record
Other measures · 141 locations
- Who is counted
- Franchise Restaurants with submitted financial statements; quartile
- Period
- Third Quartile
- Method
- Average operating costs and expenses per quartile.
Locations counted: not stated in the reviewed record
Other measures · 809 locations
- Who is counted
- Franchised Restaurants; third-party; excluding affiliate-owned
- Period
- All Measured Restaurants
- Excluded
- 140 affiliate-owned; 9 closed over one month; 41 opened during period; 8 closed during period; 6 transferred during period
Locations counted: not stated in the reviewed record
Other measures · 140 locations
- Who is counted
- Franchise Restaurants with submitted financial statements; quartile
- Period
- Top Quartile
- Method
- Average operating costs and expenses per quartile.
Locations counted: not stated in the reviewed record
Other measures · 140 locations
- Who is counted
- Table 2 Measured Restaurants; franchisees with submitted financials; quartile
- Period
- Top Quartile
Locations counted: not stated in the reviewed record
Other measures · 141 locations
- Who is counted
- Table 2 Measured Restaurants; franchisees with submitted financials; quartile
- Period
- Third Quartile
Locations counted: not stated in the reviewed record
Other measures · 776 locations
- Who is counted
- Franchised Restaurants; opened and operating during fiscal year
- Period
- 2024
Locations counted: not stated in the reviewed record
Other measures · 768 locations
- Who is counted
- Franchised Restaurants; opened and operating during fiscal year
- Period
- 2023
Locations counted: not stated in the reviewed record
Other measures · 809 locations
- Who is counted
- Franchised Restaurants; opened and operating during fiscal year
- Period
- 2025
These groups are never combined.
Outlet Changes — Item 20
How has the outlet count changed?
United States, as labeled in the FDD · counts as of 2025 of each year.
2026 FDD · Item 20 · PDF p. 63
Net −7 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 ($52,500) vary most by market, and why?
Which initial fee option would apply to my situation, and what conditions or discounts affect it?
Which locations are included in the Item 19 figures, and which were excluded?
Reported units went from 1,652 to 1,730 in 2025. How many new units opened, closed or changed hands?
Is a territory available in my area, and how is it defined in my agreement?
For current and former owners
How did your actual startup costs and timeline compare with the Item 7 estimate?
How many hours a week do you work in the business, and in what role?
How do your results compare with the Item 19 figures, and what explains the difference?
What support from the franchisor has been most and least useful?
For your advisors
Ask a franchise attorney to review the territory, renewal, transfer and termination terms.
Ask an accountant to build a cash-flow plan using your own assumptions, not the franchisor's.
Sources & vintage history
Every displayed fact is retained with its disclosure vintage, item, page, and reviewed status. Prior vintages remain on file rather than being overwritten.
Citations (2026 FDD)
- [1]Estimated initial investment — Item 7 · PDF p. 27
- [2]Standard initial franchise fee — Item 5 · PDF p. 14
- [3]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; third-party; excluding affiliate-owned · PDF p. 53
- [4]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; third-party; excluding affiliate-owned · PDF p. 53
- [5]Item 19 — Locations counted not stated in the reviewed record — Franchise Restaurants with submitted financial statements; quartile · PDF p. 53; PDF p. 54
- [6]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; third-party; excluding affiliate-owned · PDF p. 53
- [7]Item 19 — Locations counted not stated in the reviewed record — Franchise Restaurants with submitted financial statements; quartile · PDF p. 54; PDF p. 53
- [8]Item 19 — Locations counted not stated in the reviewed record — Table 2 Measured Restaurants; franchisees with submitted financials; quartile · PDF p. 55
- [9]Item 19 — Locations counted not stated in the reviewed record — Table 2 Measured Restaurants; franchisees with submitted financials; quartile · PDF p. 55
- [10]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; opened and operating during fiscal year · PDF p. 55
- [11]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; opened and operating during fiscal year · PDF p. 55
- [12]Item 19 — Locations counted not stated in the reviewed record — Franchised Restaurants; opened and operating during fiscal year · PDF p. 55
- [13]Outlet counts — Item 20, Table 1 · PDF p. 63
"PDF p." is the page in the PDF file; "printed p." is the number printed on the FDD page.
Territory & operations
1,002 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
No verified franchisor financial statement figures have been reviewed yet.
SBA-backed loans to franchisees
Loading…
Source: U.S. Small Business Administration 7(a) & 504 FOIA data. Loan volume is not a measure of franchisee success.
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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
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 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Third Quartile — Average gross revenue
“AVERAGE GROSS REVENUE $4,045,705 100.0% $3,094,238 100.0% $2,557,665 100.0% $1,891,062 100.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the same section describes 563 Franchise Restaurants with franchisee financials. Ownership basis for the quartile figures is contradictory.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — 4 Wall EBITDAR
“4 Wall EBITDAR $1,006,142 24.9% $713,604 23.1% $520,782 20.4% $301,696 16.0%”
Note: Table 2 heading on PDF p.59 calls these Affiliate Restaurants, while the same section says the 563 measured restaurants are Franchise Restaurants. The ownership group is contradictory; cannot verify group-specific performance.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Other operating expenses
“Other Operating Expenses $508,522 12.6% $417,129 13.5% $369,056 14.4% $321,716 17.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Advertising expenses as % of gross revenues
“Advertising Expenses $146,214 3.6% $111,652 3.6% $91,828 3.6% $70,647 3.7%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Total other operating expenses
“TOTAL OTHER OPERATING EXPENSES $887,469 21.9% $704,817 22.8% $604,285 23.6% $492,921 26.1%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Location expense
“Location Expense $187,543 4.6% $180,306 5.8% $172,894 6.8% $160,672 8.5%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Royalties as % of gross revenues
“Royalties $232,733 5.8% $176,036 5.7% $143,401 5.6% $100,558 5.3%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Top Quartile — Average EBITDA from operations
“Top Quartile 140 $818,599 61 43.6% $773,586”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Location expense
“Location Expense $187,543 4.6% $180,306 5.8% $172,894 6.8% $160,672 8.5%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — 4 Wall EBITDA as % of gross revenues
“4 Wall EBITDA $818,599 20.2% $533,297 17.2% $347,887 16.0% $141,024 7.5%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — 4 Wall EBITDAR as % of gross revenues
“4 Wall EBITDAR $1,006,142 24.9% $713,604 23.1% $520,782 20.4% $301,696 16.0%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — 4 Wall EBITDA
“4 Wall EBITDA $818,599 20.2% $533,297 17.2% $347,887 16.0% $141,024 7.5%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Advertising expenses
“Advertising Expenses $146,214 3.6% $111,652 3.6% $91,828 3.6% $70,647 3.7%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Advertising expenses as % of gross revenues
“Advertising Expenses $146,214 3.6% $111,652 3.6% $91,828 3.6% $70,647 3.7%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — 4 Wall EBITDAR as % of gross revenues
“4 Wall EBITDAR $1,006,142 24.9% $713,604 23.1% $520,782 20.4% $301,696 16.0%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Third Quartile — Restaurant count
“Third Quartile 141 $347,887 67 47.5% $345,469”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Restaurant count
“Bottom Quartile 141 $141,024 70 49.6% $138,808”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Third Quartile — Average EBITDA from operations
“Third Quartile 141 $347,887 67 47.5% $345,469”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — 4 Wall EBITDAR as % of gross revenues
“4 Wall EBITDAR $1,006,142 24.9% $713,604 23.1% $520,782 20.4% $301,696 16.0%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Advertising expenses as % of gross revenues
“Advertising Expenses $146,214 3.6% $111,652 3.6% $91,828 3.6% $70,647 3.7%”
Note: Table 2 heading on PDF p.59 calls these Affiliate Restaurants, while the same section says the 563 measured restaurants are Franchise Restaurants. The ownership group is contradictory; cannot verify group-specific performance.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Royalties as % of gross revenues
“Royalties $232,733 5.8% $176,036 5.7% $143,401 5.6% $100,558 5.3%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Cost of goods sold
“COST OF GOODS SOLD $1,221,641 30.2% $927,988 30.0% $780,762 30.5% $582,927 30.8%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Restaurants above average EBITDA
“Bottom Quartile 141 $141,024 70 49.6% $138,808”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Third Quartile — Total cost of labor
“TOTAL COST OF LABOR $930,452 23.0% $747,830 24.2% $651,836 25.5% $513,517 27.2%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Royalties as % of gross revenues
“Royalties $232,733 5.8% $176,036 5.7% $143,401 5.6% $100,558 5.3%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Third Quartile — Other operating expenses as % of gross revenues
“Other Operating Expenses $508,522 12.6% $417,129 13.5% $369,056 14.4% $321,716 17.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Second Quartile — Percent above average EBITDA
“Second Quartile 141 $533,297 68 48.2% $526,552”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Location expense as % of gross revenues
“Location Expense $187,543 4.6% $180,306 5.8% $172,894 6.8% $160,672 8.5%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Second Quartile — Restaurants above average EBITDA
“Second Quartile 141 $533,297 68 48.2% $526,552”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Second Quartile — Royalties
“Royalties $232,733 5.8% $176,036 5.7% $143,401 5.6% $100,558 5.3%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Third Quartile — Percent above average EBITDA
“Third Quartile 141 $347,887 67 47.5% $345,469”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Average gross revenue
“AVERAGE GROSS REVENUE $4,045,705 100.0% $3,094,238 100.0% $2,557,665 100.0% $1,891,062 100.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the same section describes 563 Franchise Restaurants with franchisee financials. Ownership basis for the quartile figures is contradictory.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Third Quartile — 4 Wall EBITDA
“4 Wall EBITDA $818,599 20.2% $533,297 17.2% $347,887 16.0% $141,024 7.5%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Third Quartile — Average gross revenue as % of gross revenues
“AVERAGE GROSS REVENUE $4,045,705 100.0% $3,094,238 100.0% $2,557,665 100.0% $1,891,062 100.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the same section describes 563 Franchise Restaurants with franchisee financials. Ownership basis for the quartile figures is contradictory.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — 4 Wall EBITDAR
“4 Wall EBITDAR $1,006,142 24.9% $713,604 23.1% $520,782 20.4% $301,696 16.0%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 55 · 2026 FDD
Our summary: Table 2 — Third Quartile — Median EBITDA from operations
“Third Quartile 141 $347,887 67 47.5% $345,469”
Note: These Table 2 figures are described for franchisee-submitted restaurants, but Table 2 is titled Affiliate Restaurants on PDF p.59. The disclosure does not reconcile whether the figures represent affiliates or franchises.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Second Quartile — Total cost of labor as % of gross revenues
“TOTAL COST OF LABOR $930,452 23.0% $747,830 24.2% $651,836 25.5% $513,517 27.2%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Third Quartile — Total other operating expenses as % of gross revenues
“TOTAL OTHER OPERATING EXPENSES $887,469 21.9% $704,817 22.8% $604,285 23.6% $492,921 26.1%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Third Quartile — Total other operating expenses
“TOTAL OTHER OPERATING EXPENSES $887,469 21.9% $704,817 22.8% $604,285 23.6% $492,921 26.1%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Top Quartile — Total cost of labor
“TOTAL COST OF LABOR $930,452 23.0% $747,830 24.2% $651,836 25.5% $513,517 27.2%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Top Quartile — Average gross revenue as % of gross revenues
“AVERAGE GROSS REVENUE $4,045,705 100.0% $3,094,238 100.0% $2,557,665 100.0% $1,891,062 100.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the same section describes 563 Franchise Restaurants with franchisee financials. Ownership basis for the quartile figures is contradictory.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Third Quartile — Location expense as % of gross revenues
“Location Expense $187,543 4.6% $180,306 5.8% $172,894 6.8% $160,672 8.5%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Other operating expenses as % of gross revenues
“Other Operating Expenses $508,522 12.6% $417,129 13.5% $369,056 14.4% $321,716 17.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Total cost of labor as % of gross revenues
“TOTAL COST OF LABOR $930,452 23.0% $747,830 24.2% $651,836 25.5% $513,517 27.2%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its descriptive paragraph identifies 563 Franchise Restaurants. The source does not reconcile this ownership-group conflict.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Top Quartile — Total other operating expenses as % of gross revenues
“TOTAL OTHER OPERATING EXPENSES $887,469 21.9% $704,817 22.8% $604,285 23.6% $492,921 26.1%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says the 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Top Quartile — Total cost of labor as % of gross revenues
“TOTAL COST OF LABOR $930,452 23.0% $747,830 24.2% $651,836 25.5% $513,517 27.2%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — Total other operating expenses
“TOTAL OTHER OPERATING EXPENSES $887,469 21.9% $704,817 22.8% $604,285 23.6% $492,921 26.1%”
Note: Table 2 is titled Affiliate Restaurants on PDF p.59, while its descriptive paragraph calls the 563 outlets Franchise Restaurants. The source does not resolve which ownership group these quartile figures cover.
Item 19 · PDF p. 54 · 2026 FDD
Our summary: Table 2 — Bottom Quartile — 4 Wall EBITDA as % of gross revenues
“4 Wall EBITDA $818,599 20.2% $533,297 17.2% $347,887 13.6% $141,024 7.5%”
Note: Table 2 is headed Affiliate Restaurants on PDF p.59, while its description identifies franchise restaurants. The ownership group is unresolved; the claimed 4 Wall EBITDA percentage also conflicts between cited text and table extraction.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Third Quartile — Cost of goods sold as % of gross revenues
“COST OF GOODS SOLD $1,221,641 30.2% $927,988 30.0% $780,762 30.5% $582,927 30.8%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the accompanying description says its 563 measured restaurants are Franchise Restaurants. This unresolved ownership-group conflict prevents verification.
Item 19 · PDF p. 53 · 2026 FDD
Our summary: Table 2 — Second Quartile — Average gross revenue
“AVERAGE GROSS REVENUE $4,045,705 100.0% $3,094,238 100.0% $2,557,665 100.0% $1,891,062 100.0%”
Note: Table 2 heading on PDF p.59 identifies Affiliate Restaurants, but the same section describes 563 Franchise Restaurants with franchisee financials. Ownership basis for the quartile figures is contradictory.
Independent analysis of franchisor-provided data. Not investment advice. Franopolis does not distribute FDDs.