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    Franchise opportunities compared

    Culver Franchising System 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.

    Culver Franchising System2026 FDDFive Guys2026 FDD

    Initial investment · Item 7

    Culver Franchising System

    $3,406,350 – $10,294,100

    2026 FDD · Item 7 · PDF p. 15

    Five Guys

    $52,100 – $927,850

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Culver Franchising System

    Not available

    Five Guys

    $25,000

    2026 FDD · Item 5 · PDF p. 15

    Royalty · Item 6

    Culver Franchising System

    Not available

    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 Culver Franchising System has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    Culver Franchising System

    $3,406,350 – $10,294,100
    Totals
    2026 FDD · Item 7 · PDF p. 15

    Five Guys

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

    Culver Franchising System

    Not available
    No single standard fee identified

    Five Guys

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

    Culver Franchising System

    Not available
    No reviewed royalty record

    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)

    Culver Franchising System

    2.5%
    Advertising Fee — 2.5%
    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)

    Culver Franchising System

    1,041
    Outlets at end of 2025
    2025 FDD · Item 20 · PDF p. 46

    Five Guys

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

    Culver Franchising System

    +149
    Calculated: 892 at end of 2022 → 1,041 at end of 2025

    Five Guys

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

    Culver Franchising System

    Not available
    No complete exit records for a year

    Five Guys

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

    Culver Franchising System

    Not available
    Not in reviewed records

    Five Guys

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

    Culver Franchising System

    Not available
    Not in reviewed records

    Five Guys

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Culver Franchising System
    Locations counted not stated in the reviewed record — Franchised Culver’s Restaurants open for the entire 12-month period ended Decem…
    $1,103,114
    other Lowest sales
    2026 FDD · Item 19 · PDF p. 37
    Locations counted not stated in the reviewed record — Seven company-owned Culver’s Restaurants open for the full 12-month period ende…
    $7,801,703
    other Food cost
    2026 FDD · Item 19 · PDF p. 38
    Locations counted not stated in the reviewed record — Franchised Culver’s Restaurants included in Part 2 and open for the entire 12-m…
    $9,030,702
    other Highest sales
    2026 FDD · Item 19 · PDF p. 41
    +42 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.

    Culver Franchising System vs Five Guys: common questions

    Which costs less to open, Culver Franchising System or Five Guys?
    Culver Franchising System: $3,406,350 – $10,294,100 (2026 FDD · Item 7 · PDF p. 15); 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.
    Which has more locations, Culver Franchising System or Five Guys?
    Culver Franchising System: 1,041 (2025 FDD · Item 20 · PDF p. 46); 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 Culver Franchising System and Five Guys disclose financial performance (Item 19)?
    Culver Franchising System has reviewed Item 19 figures for 45 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 Culver Franchising System 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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