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    Franchise opportunities compared

    IHOP vs Nan Xiang Xiao Long Bao

    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.

    IHOP2026 FDDNan Xiang Xiao Long Bao2026 FDD

    Initial investment · Item 7

    IHOP

    $380,550 – $4,823,457

    2026 FDD · Item 7

    Nan Xiang Xiao Long Bao

    $1,180,000 – $1,894,000

    2026 FDD · Item 7

    Initial franchise fee · Item 5

    IHOP

    $15,000

    2026 FDD · Item 5 · PDF p. 19

    Nan Xiang Xiao Long Bao

    $60,000

    2026 FDD · Item 5 · PDF p. 10

    Royalty · Item 6

    IHOP

    4.5%

    2026 FDD · Item 6 · PDF p. 21

    Nan Xiang Xiao Long Bao

    5%

    2026 FDD · Item 6 · PDF p. 11

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • IHOP and Nan Xiang Xiao Long Bao disclose more than one business format, so the investment range spans formats; the full report breaks them out.
    • Only IHOP has reviewed Item 19 figures here.

    Financial commitment

    Estimated initial investment (Item 7)

    IHOP

    $380,550 – $4,823,457
    2026 FDD · Item 7

    Nan Xiang Xiao Long Bao

    $1,180,000 – $1,894,000
    2026 FDD · Item 7
    Standard initial franchise fee (Item 5)

    IHOP

    $15,000
    2026 FDD · Item 5 · PDF p. 19

    Nan Xiang Xiao Long Bao

    $60,000
    2026 FDD · Item 5 · PDF p. 10
    Royalty (Item 6)

    IHOP

    4.5%
    Royalty rate
    2026 FDD · Item 6 · PDF p. 21

    Nan Xiang Xiao Long Bao

    5%
    Royalty rate maximum
    2026 FDD · Item 6 · PDF p. 11
    Brand / advertising fund (Item 6)

    IHOP

    3.5%
    National Advertising Fee rate — 3.5%
    2026 FDD · Item 6 · PDF p. 21

    Nan Xiang Xiao Long Bao

    $2,000
    Brand Fund Contribution — first month after opening
    2026 FDD · Item 6 · PDF p. 11

    System scale & health

    Total outlets (Item 20)

    IHOP

    5,028
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 68

    Nan Xiang Xiao Long Bao

    10
    Outlets at end of 2025
    2026 FDD · Item 20 · PDF p. 43
    Net outlet change (Item 20)

    IHOP

    −36
    Calculated: 5,064 at end of 2023 → 5,028 at end of 2025

    Nan Xiang Xiao Long Bao

    +7
    Calculated: 3 at end of 2023 → 10 at end of 2025
    Outlet exits (Item 20)

    IHOP

    Not available
    No complete exit records for a year

    Nan Xiang Xiao Long Bao

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

    IHOP

    1960
    From a verified franchisor listing

    Nan Xiang Xiao Long Bao

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

    IHOP

    Not available
    Not in reviewed records

    Nan Xiang Xiao Long Bao

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    IHOP
    Locations counted not stated in the reviewed record — Traditional franchised IHOP Restaurants in the Northeast U.S. Census Bureau reg…
    $2,176,716
    other Gross Sales
    2026 FDD · Item 19 · PDF p. 66
    Locations counted not stated in the reviewed record — Traditional franchised IHOP Restaurants in the Midwest U.S. Census Bureau region
    $1,551,817
    other Gross Sales
    2026 FDD · Item 19 · PDF p. 66
    Locations counted not stated in the reviewed record — Traditional franchised IHOP Restaurants using the freestanding prototype, 2024…
    $1,970,976
    other Gross Sales
    2026 FDD · Item 19 · PDF p. 67
    +28 more groups in the full report
    Nan Xiang Xiao Long Bao

    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.

    IHOP vs Nan Xiang Xiao Long Bao: common questions

    Which costs less to open, IHOP or Nan Xiang Xiao Long Bao?
    IHOP: $380,550 – $4,823,457 (2026 FDD · Item 7); Nan Xiang Xiao Long Bao: $1,180,000 – $1,894,000 (2026 FDD · Item 7). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for IHOP. At least one range spans several business formats. Estimates are not quotes, and the FDD years may differ.
    How do IHOP and Nan Xiang Xiao Long Bao royalties compare?
    IHOP: 4.5% (2026 FDD · Item 6 · PDF p. 21); Nan Xiang Xiao Long Bao: 5% (2026 FDD · Item 6 · PDF p. 11). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, IHOP or Nan Xiang Xiao Long Bao?
    IHOP: 5,028 (2026 FDD · Item 20 · PDF p. 68); Nan Xiang Xiao Long Bao: 10 (2026 FDD · Item 20 · PDF p. 43). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do IHOP and Nan Xiang Xiao Long Bao disclose financial performance (Item 19)?
    IHOP has reviewed Item 19 figures for 31 location groups; Nan Xiang Xiao Long Bao 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 IHOP report

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

    Full Nan Xiang Xiao Long Bao report

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

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