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    Franchise opportunities compared

    Carbones Pizza vs Five Guys

    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.

    Carbones Pizza2026 FDDFive Guys2026 FDD

    Initial investment · Item 7

    Carbones Pizza

    $328,600

    2026 FDD · Item 7 · PDF p. 10

    Five Guys

    $52,100 – $927,850

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Carbones Pizza

    Not available

    Five Guys

    $25,000

    2026 FDD · Item 5 · PDF p. 15

    Royalty · Item 6

    Carbones Pizza

    4%

    2026 FDD · Item 6 · PDF p. 8

    Five Guys

    8%

    2026 FDD · Item 6 · PDF p. 16

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Five Guys discloses more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only Carbones Pizza has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    Carbones Pizza

    $328,600
    Total estimated initial investment — $328,600–$909,250
    2026 FDD · Item 7 · PDF p. 10

    Five Guys

    $52,100 – $927,850
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Carbones Pizza

    Not available
    No single standard fee identified

    Five Guys

    $25,000
    2026 FDD · Item 5 · PDF p. 15
    Royalty (Item 6)

    Carbones Pizza

    4%
    Royalty — 4% first $1 million; 3% next $1 million; 2% above $2 million annually
    2026 FDD · Item 6 · PDF p. 8

    Five Guys

    8%
    s. If the Restaurant is located in Alaska, Hawaii or Puerto Rico, the Royalty Fee is — 8%
    2026 FDD · Item 6 · PDF p. 16
    Brand / advertising fund (Item 6)

    Carbones Pizza

    1%
    Advertising fee — 1% on annual gross sales up to $2 million — 1%
    2026 FDD · Item 6 · PDF p. 8

    Five Guys

    $250
    , depending on your advertising needs When billed Prohibited Product or Service Fine — 250
    2026 FDD · Item 6 · PDF p. 16

    System scale & health

    Total outlets (Item 20)

    Carbones Pizza

    33
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 28

    Five Guys

    1,583
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 54
    Net outlet change (Item 20)

    Carbones Pizza

    −3
    Calculated: 36 at end of 2023 → 33 at end of 2025

    Five Guys

    +62
    Calculated: 1,521 at end of 2023 → 1,583 at end of 2025
    Outlet exits (Item 20)

    Carbones Pizza

    Not available
    No complete exit records for a year

    Five Guys

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

    Carbones Pizza

    1977
    From a verified franchisor listing

    Five Guys

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

    Carbones Pizza

    Not available
    Not in reviewed records

    Five Guys

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Carbones Pizza
    Locations counted not stated in the reviewed record — Fast Casual restaurants operating for the entire 12-month period
    $582,861
    other gross sales
    2026 FDD · Item 19 · PDF p. 26
    Locations counted not stated in the reviewed record — Express restaurants operating for the entire 12-month period
    8 restaurants
    other Reporting restaurants
    2026 FDD · Item 19 · PDF p. 26
    Locations counted not stated in the reviewed record — Full-Service restaurants operating for the entire 12-month period
    17 restaurants
    other Reporting restaurants
    2026 FDD · Item 19 · PDF p. 27
    +1 more groups in the full report
    Five Guys

    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.

    Carbones Pizza vs Five Guys: common questions

    Which costs less to open, Carbones Pizza or Five Guys?
    Carbones Pizza: $328,600 (2026 FDD · Item 7 · PDF p. 10); Five Guys: $52,100 – $927,850 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Five Guys. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do Carbones Pizza and Five Guys royalties compare?
    Carbones Pizza: 4% (2026 FDD · Item 6 · PDF p. 8); Five Guys: 8% (2026 FDD · Item 6 · PDF p. 16). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, Carbones Pizza or Five Guys?
    Carbones Pizza: 33 (2026 FDD · Item 20 · PDF p. 28); Five Guys: 1,583 (2026 FDD · Item 20 · PDF p. 54). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Carbones Pizza and Five Guys disclose financial performance (Item 19)?
    Carbones Pizza has reviewed Item 19 figures for 4 location groups; Five Guys 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 Carbones Pizza report

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

    Full Five Guys report

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

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