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    Franchise opportunities compared

    Donatos Pizza vs Smashburger

    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.

    Donatos Pizza2026 FDDSmashburger2026 FDD

    Initial investment · Item 7

    Donatos Pizza

    $546,637 – $1,090,537

    2026 FDD · Item 7

    Smashburger

    $1,239,500

    2026 FDD · Item 7 · PDF p. 19

    Initial franchise fee · Item 5

    Donatos Pizza

    Not available

    Smashburger

    Not available

    Royalty · Item 6

    Donatos Pizza

    Not available

    Smashburger

    5.5%

    2026 FDD · Item 6 · PDF p. 14

    Before you compare

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

    Financial commitment

    Estimated initial investment (Item 7)

    Donatos Pizza

    $546,637 – $1,090,537
    2026 FDD · Item 7

    Smashburger

    $1,239,500
    Restaurant total range low excludes extensive exterior renovation debtservice
    2026 FDD · Item 7 · PDF p. 19
    Standard initial franchise fee (Item 5)

    Donatos Pizza

    Not available
    No single standard fee identified

    Smashburger

    Not available
    No single standard fee identified
    Royalty (Item 6)

    Donatos Pizza

    Not available
    No reviewed royalty record

    Smashburger

    5.5%
    Royalty weekly gross sales
    2026 FDD · Item 6 · PDF p. 14
    Brand / advertising fund (Item 6)

    Donatos Pizza

    1%
    Nationalmarketingcurrent NetSales — 1%
    2026 FDD · Item 6 · PDF p. 18

    Smashburger

    2.25%
    Marketing fund weekly current — 2.25%
    2026 FDD · Item 6 · PDF p. 14

    System scale & health

    Total outlets (Item 20)

    Donatos Pizza

    179
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 79

    Smashburger

    172
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 49
    Net outlet change (Item 20)

    Donatos Pizza

    +52
    Calculated: 127 at end of 2023 → 179 at end of 2025

    Smashburger

    −39
    Calculated: 211 at end of 2023 → 172 at end of 2025
    Outlet exits (Item 20)

    Donatos Pizza

    Not available
    No complete exit records for a year

    Smashburger

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

    Donatos Pizza

    1991
    From a verified franchisor listing

    Smashburger

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

    Donatos Pizza

    Not available
    Not in reviewed records

    Smashburger

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Donatos Pizza
    Locations counted not stated in the reviewed record — All covered
    $2,492,132
    other All covered High
    2026 FDD · Item 19 · PDF p. 73
    Locations counted not stated in the reviewed record — Company-owned
    $2,384,141
    other Company-owned High
    2026 FDD · Item 19 · PDF p. 73
    Locations counted not stated in the reviewed record — Franchise-owned
    $2,476,922
    other Franchise-owned High
    2026 FDD · Item 19 · PDF p. 74
    +8 more groups in the full report
    Smashburger

    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.

    Donatos Pizza vs Smashburger: common questions

    Which costs less to open, Donatos Pizza or Smashburger?
    Donatos Pizza: $546,637 – $1,090,537 (2026 FDD · Item 7); Smashburger: $1,239,500 (2026 FDD · Item 7 · PDF p. 19). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Donatos Pizza. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    Which has more locations, Donatos Pizza or Smashburger?
    Donatos Pizza: 179 (2026 FDD · Item 20 · PDF p. 79); Smashburger: 172 (2026 FDD · Item 20 · PDF p. 49). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Donatos Pizza and Smashburger disclose financial performance (Item 19)?
    Donatos Pizza has reviewed Item 19 figures for 11 location groups; Smashburger 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 Donatos Pizza report

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

    Full Smashburger report

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

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