Franchise opportunities compared
Carvel Corporation vs Smoothie King
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.
Before you compare
- Both sets of figures come from 2026 FDDs.
- Carvel Corporation and Smoothie King disclose more than one business format, so the investment range spans formats; the full report breaks them out.
- Item 19 figures cover the location groups each FDD names (Carvel Corporation: 5, Smoothie King: 40). Different groups are not directly comparable.
| Disclosure |  Carvel Corporation |  Smoothie King |
|---|---|---|
| Financial commitment | ||
| Estimated initial investment (Item 7) | $38,850 – $1,051,200 2026 FDD · Item 7 | $0.00 – $1,278,900 2026 FDD · Item 7 |
| Standard initial franchise fee (Item 5) | $3,000 2026 FDD · Item 5 · PDF p. 30 | Not available No single standard fee identified |
| Royalty (Item 6) | 6% OTHER FEES Type of Fee 1, 4 Amount Date Due Remarks Royalty Fee — 6% 2026 FDD · Item 6 · PDF p. 31 | Not available No reviewed royalty record |
| Brand / advertising fund (Item 6) | 2% Marketing Obligation Currently, each calendar quarter, you must spend not less than — 2% — 2% 2026 FDD · Item 6 · PDF p. 32 | $5,000 Development payment schedule; design/training/opening marketing fees — $5000 2026 FDD · Item 6 · PDF p. 17 |
| System scale & health | ||
| Total outlets (Item 20) | 720 Outlets at end of 2025 2026 FDD · Item 20 · PDF p. 93 | 2,484 Outlets at end of 2025 2026 FDD · Item 20 · PDF p. 68 |
| Net outlet change (Item 20) | +68 Calculated: 652 at end of 2023 → 720 at end of 2025 | +180 Calculated: 2,304 at end of 2023 → 2,484 at end of 2025 |
| Outlet exits (Item 20) | Not available No complete exit records for a year | Not available No complete exit records for a year |
| Franchising since (Item 1) | 1950 From a verified franchisor listing | 1989 From a verified franchisor listing |
| Franchisor founded (Item 1) | Not available Not in reviewed records | Not available Not in reviewed records |
| Performance (Item 19) | ||
| Financial performance (Item 19), by location group | Locations counted not stated in the reviewed record — 104eligible singlebranded full Streetside Shoppes — 2nd Quartile 26 shoppes other 2nd Quartile Sample size · 2026 FDD · Item 19 · PDF p. 92 Locations counted not stated in the reviewed record — 104eligible singlebranded full Streetside Shoppes — Top Quartile $779,624 other Top Quartile Mean net sales · 2026 FDD · Item 19 · PDF p. 92 Locations counted not stated in the reviewed record — 104eligible singlebranded full Streetside Shoppes — 3rd Quartile 26 shoppes other 3rd Quartile Sample size · 2026 FDD · Item 19 · PDF p. 92 +2 more groups in the full report | Locations counted not stated in the reviewed record — Top 50percent cumulative net-sales segment $795,063 other 2025 Top 50percent cumulative net-sales segment Median Net Sales · 2026 FDD · Item 19 · PDF p. 61 Locations counted not stated in the reviewed record — All 1087 units $662,015 other 2025 All 1087 units Average Net Sales · 2026 FDD · Item 19 · PDF p. 61 Locations counted not stated in the reviewed record — Comparable-period same-store franchised units 51 percent other 2025vs2024 At/above average percent · 2026 FDD · Item 19 · PDF p. 66 +37 more groups in the full report |
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.
Carvel Corporation vs Smoothie King: common questions
- Which costs less to open, Carvel Corporation or Smoothie King?
- Carvel Corporation: $38,850 – $1,051,200 (2026 FDD · Item 7); Smoothie King: $0.00 – $1,278,900 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Smoothie King. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
- Which has more locations, Carvel Corporation or Smoothie King?
- Carvel Corporation: 720 (2026 FDD · Item 20 · PDF p. 93); Smoothie King: 2,484 (2026 FDD · Item 20 · PDF p. 68). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
- Do Carvel Corporation and Smoothie King disclose financial performance (Item 19)?
- Carvel Corporation has reviewed Item 19 figures for 5 location groups; Smoothie King has reviewed Item 19 figures for 40 location groups. Different location groups are not directly comparable, and revenue is not profit.
Answers restate the reviewed figures above. Not a ranking or recommendation.