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    Franchise opportunities compared

    CHARLEYS 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.

    CHARLEYS2025 FDDFive Guys2026 FDD

    Initial investment · Item 7

    CHARLEYS

    $203,736 – $984,732

    2025 FDD · Item 7

    Five Guys

    $52,100 – $927,850

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    CHARLEYS

    Not available

    Five Guys

    $25,000

    2026 FDD · Item 5 · PDF p. 15

    Royalty · Item 6

    CHARLEYS

    6%

    2025 FDD · Item 6 · PDF p. 12

    Five Guys

    8%

    2026 FDD · Item 6 · PDF p. 16

    Before you compare

    • CHARLEYS figures come from its 2025 FDD and Five Guys figures from its 2026 FDD, so the years differ.
    • CHARLEYS and Five Guys disclose more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only CHARLEYS has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    CHARLEYS

    $203,736 – $984,732
    2025 FDD · Item 7

    Five Guys

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

    CHARLEYS

    Not available
    No single standard fee identified

    Five Guys

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

    CHARLEYS

    6%
    Royalty rate
    2025 FDD · Item 6 · PDF p. 12

    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)

    CHARLEYS

    Not available
    No reviewed brand or advertising fund fee

    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)

    CHARLEYS

    813
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 49

    Five Guys

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

    CHARLEYS

    +141
    Calculated: 672 at end of 2022 → 813 at end of 2024

    Five Guys

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

    CHARLEYS

    Not available
    No complete exit records for a year

    Five Guys

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

    CHARLEYS

    Not available
    Not in reviewed records

    Five Guys

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

    CHARLEYS

    Not available
    Not in reviewed records

    Five Guys

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    CHARLEYS
    Locations counted not stated in the reviewed record
    $3,077,489
    other Gross sales range high
    2025 FDD · Item 19 · PDF p. 48
    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.

    CHARLEYS vs Five Guys: common questions

    Which costs less to open, CHARLEYS or Five Guys?
    CHARLEYS: $203,736 – $984,732 (2025 FDD · Item 7); 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 CHARLEYS and Five Guys royalties compare?
    CHARLEYS: 6% (2025 FDD · Item 6 · PDF p. 12); 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, CHARLEYS or Five Guys?
    CHARLEYS: 813 (2025 FDD · Item 20 · PDF p. 49); 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 CHARLEYS and Five Guys disclose financial performance (Item 19)?
    CHARLEYS has reviewed Item 19 figures for 1 location group; 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 CHARLEYS 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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    FDD glossary

    Plain-language meaning of each Item