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    Franchise opportunities compared

    Cousins Subs 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.

    Cousins Subs2026 FDDFive Guys2026 FDD

    Initial investment · Item 7

    Cousins Subs

    $464,700 – $1,164,500

    2026 FDD · Item 7 · PDF p. 22

    Five Guys

    $52,100 – $927,850

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Cousins Subs

    $2,500

    2026 FDD · Item 5 · PDF p. 12

    Five Guys

    $25,000

    2026 FDD · Item 5 · PDF p. 15

    Royalty · Item 6

    Cousins Subs

    6%

    2026 FDD · Item 6 · PDF p. 15

    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 Cousins Subs has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    Cousins Subs

    $464,700 – $1,164,500
    Cousins Subs shop — Total initial investment: $ 464 , 700 - $ 1,164,500
    2026 FDD · Item 7 · PDF p. 22

    Five Guys

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

    Cousins Subs

    $2,500
    2026 FDD · Item 5 · PDF p. 12

    Five Guys

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

    Cousins Subs

    6%
    Weekly continuing service fee; gross receipts definition — 6%
    2026 FDD · Item 6 · PDF p. 15

    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)

    Cousins Subs

    $25,000
    Initial, additional and development fees; deposit credit; marketing fee — $25000
    2026 FDD · Item 6 · PDF p. 13

    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)

    Cousins Subs

    92
    Outlets at end of 2025
    2025 FDD · Item 20 · PDF p. 67

    Five Guys

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

    Cousins Subs

    +0
    Calculated: 92 at end of 2022 → 92 at end of 2025

    Five Guys

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

    Cousins Subs

    Not available
    No complete exit records for a year

    Five Guys

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

    Cousins Subs

    Not available
    Not in reviewed records

    Five Guys

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

    Cousins Subs

    Not available
    Not in reviewed records

    Five Guys

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Cousins Subs
    Locations counted not stated in the reviewed record — Full fiscal year shops; includes four affiliate non-traditional shops; High thi…
    18 shops
    other Affiliate-owned 2025 High shops
    2026 FDD · Item 19 · PDF p. 53
    Locations counted not stated in the reviewed record — Full fiscal year shops; includes four affiliate non-traditional shops
    50 percent
    other Affiliate-owned 2025 Percent above system average
    2026 FDD · Item 19 · PDF p. 53
    Locations counted not stated in the reviewed record — Full fiscal year shops; includes four affiliate non-traditional shops; High thi…
    17 shops
    other Affiliate-owned 2024 High shops
    2026 FDD · Item 19 · PDF p. 53
    +25 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.

    Cousins Subs vs Five Guys: common questions

    Which costs less to open, Cousins Subs or Five Guys?
    Cousins Subs: $464,700 – $1,164,500 (2026 FDD · Item 7 · PDF p. 22); 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 Cousins Subs and Five Guys royalties compare?
    Cousins Subs: 6% (2026 FDD · Item 6 · PDF p. 15); 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, Cousins Subs or Five Guys?
    Cousins Subs: 92 (2025 FDD · Item 20 · PDF p. 67); 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 Cousins Subs and Five Guys disclose financial performance (Item 19)?
    Cousins Subs has reviewed Item 19 figures for 28 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

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    Full Cousins Subs 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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