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    Franchise opportunities compared

    A&W Restaurants, Inc. vs Subway

    Reviewed figures from each brand's Franchise Disclosure Document (FDD), side by side. Each figure carries its FDD year and page. This is not a ranking or recommendation, and the two FDDs may cover different years and location groups.

    A&W Restaurants, Inc.2026 FDDSubway2026 FDD

    Initial investment · Item 7

    A&W Restaurants, Inc.

    $424,130 – $1,640,034

    2026 FDD · Item 7

    Subway

    $227,000 – $458,000

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    A&W Restaurants, Inc.

    $30,000

    2026 FDD · Item 5 · PDF p. 9

    Subway

    $15,000

    2026 FDD · Item 5 · PDF p. 29

    Royalty · Item 6

    A&W Restaurants, Inc.

    Not available

    Subway

    8%

    2026 FDD · Item 6 · PDF p. 36

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • A&W Restaurants, Inc. and Subway disclose more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only A&W Restaurants, Inc. has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    A&W Restaurants, Inc.

    $424,130 – $1,640,034
    2026 FDD · Item 7

    Subway

    $227,000 – $458,000
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    A&W Restaurants, Inc.

    $30,000
    2026 FDD · Item 5 · PDF p. 9

    Subway

    $15,000
    2026 FDD · Item 5 · PDF p. 29
    Royalty (Item 6)

    A&W Restaurants, Inc.

    Not available
    No reviewed royalty record

    Subway

    8%
    Royalty fee
    2026 FDD · Item 6 · PDF p. 36
    Brand / advertising fund (Item 6)

    A&W Restaurants, Inc.

    5%
    tive agreements entered into with A&W or any affiliate. Advertising Fee 1, 2, 3 — 5 — 5%
    2026 FDD · Item 6 · PDF p. 11

    Subway

    4.5%
    Advertising fee — 4.5%
    2026 FDD · Item 6 · PDF p. 36

    System scale & health

    Total outlets (Item 20)

    A&W Restaurants, Inc.

    Not available
    No reviewed outlet counts

    Subway

    18,773
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 94
    Net outlet change (Item 20)

    A&W Restaurants, Inc.

    Not available
    Only one year reported

    Subway

    −1,360
    Calculated: 20,133 at end of 2023 → 18,773 at end of 2025
    Outlet exits (Item 20)

    A&W Restaurants, Inc.

    Not available
    No complete exit records for a year

    Subway

    Not available
    No complete exit records for a year
    Franchising since (Item 1)

    A&W Restaurants, Inc.

    1925
    From a verified franchisor listing

    Subway

    Not available
    Not in reviewed records
    Franchisor founded (Item 1)

    A&W Restaurants, Inc.

    Not available
    Not in reviewed records

    Subway

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    A&W Restaurants, Inc.
    Locations counted not stated in the reviewed record — Freestanding drive-thru Second Quartile (15 Restaurants)
    $1,537,678
    other Freestanding drive-thru Second Quartile
    2026 FDD · Item 19 · PDF p. 47
    Locations counted not stated in the reviewed record — Freestanding drive-thru All Reporting Freestanding Restaurants (59 Restaurants)
    $3,035,900
    other Freestanding drive-thru All Reporting Freestanding Restaurants
    2026 FDD · Item 19 · PDF p. 47
    Locations counted not stated in the reviewed record — Freestanding drive-thru Third Quartile (15 Restaurants)
    $1,214,671
    other Freestanding drive-thru Third Quartile
    2026 FDD · Item 19 · PDF p. 47
    +8 more groups in the full report
    Subway

    Not disclosed — no Item 19 financial performance representation

    Item 19 groups are shown separately and never combined. Revenue or sales figures are not profit. Net outlet change and turnover are Franopolis calculations from the disclosed counts; turnover is a count-based rate, not a measure of owner earnings.

    A&W Restaurants, Inc. vs Subway: common questions

    Which costs less to open, A&W Restaurants, Inc. or Subway?
    A&W Restaurants, Inc.: $424,130 – $1,640,034 (2026 FDD · Item 7); Subway: $227,000 – $458,000 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Subway. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    Do A&W Restaurants, Inc. and Subway disclose financial performance (Item 19)?
    A&W Restaurants, Inc. has reviewed Item 19 figures for 11 location groups; Subway makes no Item 19 financial performance representation. Different location groups are not directly comparable, and revenue is not profit.

    Answers restate the reviewed figures above. Not a ranking or recommendation.

    How Franopolis reviews FDD figures

    Keep researching

    Full A&W Restaurants, Inc. report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

    Full Subway report

    Every reviewed fee, Item 19 group, outlet table and territory disclosure

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