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    Franchise opportunities compared

    Happys Pizza vs Subway

    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.

    Happys Pizza2025 FDDSubway2026 FDD

    Initial investment · Item 7

    Happys Pizza

    $791,100

    2025 FDD · Item 7 · PDF p. 27

    Subway

    $227,000 – $458,000

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    Happys Pizza

    Not available

    Subway

    $15,000

    2026 FDD · Item 5 · PDF p. 29

    Royalty · Item 6

    Happys Pizza

    Not available

    Subway

    8%

    2026 FDD · Item 6 · PDF p. 36

    Before you compare

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

    Financial commitment

    Estimated initial investment (Item 7)

    Happys Pizza

    $791,100
    Initial Investment – Restaurant #3 $263,700 $619,250 Varies Varies Varies Total — 791100
    2025 FDD · Item 7 · PDF p. 27

    Subway

    $227,000 – $458,000
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    Happys Pizza

    Not available
    No single standard fee identified

    Subway

    $15,000
    2026 FDD · Item 5 · PDF p. 29
    Royalty (Item 6)

    Happys Pizza

    Not available
    No reviewed royalty record

    Subway

    8%
    Royalty fee
    2026 FDD · Item 6 · PDF p. 36
    Brand / advertising fund (Item 6)

    Happys Pizza

    2%
    Though we have the right to collect an Additional Marketing Contribution up to — 2 — 2%
    2025 FDD · Item 6 · PDF p. 17

    Subway

    4.5%
    Advertising fee — 4.5%
    2026 FDD · Item 6 · PDF p. 36

    System scale & health

    Total outlets (Item 20)

    Happys Pizza

    54
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 60

    Subway

    18,773
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 94
    Net outlet change (Item 20)

    Happys Pizza

    −2
    Calculated: 56 at end of 2022 → 54 at end of 2024

    Subway

    −1,360
    Calculated: 20,133 at end of 2023 → 18,773 at end of 2025
    Outlet exits (Item 20)

    Happys Pizza

    Not available
    No complete exit records for a year

    Subway

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

    Happys Pizza

    Not available
    Not in reviewed records

    Subway

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

    Happys Pizza

    Not available
    Not in reviewed records

    Subway

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Happys Pizza
    Locations counted not stated in the reviewed record — All Standard Restaurants
    50 restaurants
    other All Standard Restaurants
    2025 FDD · Item 19 · PDF p. 58
    Locations counted not stated in the reviewed record — Bottom 25 Standard Restaurants
    60 percent
    other Bottom 25 Standard Restaurants
    2025 FDD · Item 19 · PDF p. 58
    Locations counted not stated in the reviewed record — Top 25 Standard Restaurants
    32 percent
    other Top 25 Standard Restaurants
    2025 FDD · Item 19 · PDF p. 58
    +1 more groups in the full report
    Subway

    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.

    Happys Pizza vs Subway: common questions

    Which costs less to open, Happys Pizza or Subway?
    Happys Pizza: $791,100 (2025 FDD · Item 7 · PDF p. 27); Subway: $227,000 – $458,000 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Subway. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    Which has more locations, Happys Pizza or Subway?
    Happys Pizza: 54 (2025 FDD · Item 20 · PDF p. 60); Subway: 18,773 (2026 FDD · Item 20 · PDF p. 94). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Happys Pizza and Subway disclose financial performance (Item 19)?
    Happys Pizza has reviewed Item 19 figures for 4 location groups; Subway 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 Happys Pizza report

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

    Full Subway report

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

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    FDD glossary

    Plain-language meaning of each Item