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    Franchise opportunities compared

    Pancheros vs Panda Express

    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.

    Pancheros2026 FDDPanda Express2026 FDD

    Initial investment · Item 7

    Pancheros

    $754,500 – $1,552,500

    2026 FDD · Item 7 · PDF p. 19

    Panda Express

    $514,500 – $3,275,500

    2026 FDD · Item 7 · PDF p. 29

    Initial franchise fee · Item 5

    Pancheros

    $30,000

    2026 FDD · Item 5 · PDF p. 11

    Panda Express

    $25,000

    2026 FDD · Item 5 · PDF p. 21

    Royalty · Item 6

    Pancheros

    5%

    2026 FDD · Item 6 · PDF p. 12

    Panda Express

    8%

    2026 FDD · Item 6 · PDF p. 22

    Before you compare

    • Both sets of figures come from 2026 FDDs.
    • Item 19 figures cover the location groups each FDD names (Pancheros: 9, Panda Express: 7). Different groups are not directly comparable.

    Financial commitment

    Estimated initial investment (Item 7)

    Pancheros

    $754,500 – $1,552,500
    Single restaurant — Total initial investment: $ 754,500 - $ 1,552,500
    2026 FDD · Item 7 · PDF p. 19

    Panda Express

    $514,500 – $3,275,500
    TOTAL estimated initial investment: $514,500 - $3,275,500
    2026 FDD · Item 7 · PDF p. 29
    Standard initial franchise fee (Item 5)

    Pancheros

    $30,000
    2026 FDD · Item 5 · PDF p. 11

    Panda Express

    $25,000
    2026 FDD · Item 5 · PDF p. 21
    Royalty (Item 6)

    Pancheros

    5%
    OTHER FEES Franchise Agreement Type of Fee 1 Amount Due Date Remarks Royalty Fee 13 — 5%
    2026 FDD · Item 6 · PDF p. 12

    Panda Express

    8%
    FEES. F EE 1 A MOUNT W HEN P AYABLE R EMARKS Royalty Each Royalty Period you pay us — 8%
    2026 FDD · Item 6 · PDF p. 22
    Brand / advertising fund (Item 6)

    Pancheros

    3%
    s Weekly See definition of Gross Revenues . 2 Advertising Fund Contribution 13 Up to — 3% — 3%
    2026 FDD · Item 6 · PDF p. 12

    Panda Express

    Not available
    No reviewed brand or advertising fund fee

    System scale & health

    Total outlets (Item 20)

    Pancheros

    73
    Outlets at end of 2025
    2025 FDD · Item 20 · PDF p. 54

    Panda Express

    2,502
    Outlets at end of 2024
    2025 FDD · Item 20 · PDF p. 81
    Net outlet change (Item 20)

    Pancheros

    −1
    Calculated: 74 at end of 2022 → 73 at end of 2025

    Panda Express

    +150
    Calculated: 2,352 at end of 2022 → 2,502 at end of 2024
    Outlet exits (Item 20)

    Pancheros

    Not available
    No complete exit records for a year

    Panda Express

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

    Pancheros

    Not available
    Not in reviewed records

    Panda Express

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

    Pancheros

    Not available
    Not in reviewed records

    Panda Express

    Not available
    Not in reviewed records

    Financial performance (Item 19), by location group

    Pancheros
    Locations counted not stated in the reviewed record — Affiliate threefullcalendar2023–25
    $1,697,628
    other Pancheros Affiliate-Owned Restaurants
    2026 FDD · Item 19 · PDF p. 52
    Locations counted not stated in the reviewed record — Affiliate full2025
    $1,687,202
    other Pancheros Affiliate-Owned Restaurants
    2026 FDD · Item 19 · PDF p. 51
    Locations counted not stated in the reviewed record — 24affiliate restaurants full2025; commonbackoffice/costcalculation
    2.9 percent
    other Pancheros Affiliate-Owned Restaurants
    2026 FDD · Item 19 · PDF p. 53
    +6 more groups in the full report
    Panda Express
    Locations counted not stated in the reviewed record — Totalcaptivevenues
    $286,558,411
    other Total Total Gross Sales
    2026 FDD · Item 19 · PDF p. 82
    Locations counted not stated in the reviewed record — Casinocaptivevenues
    $3,018,116
    other Casino Maximum Gross Sales
    2026 FDD · Item 19 · PDF p. 82
    Locations counted not stated in the reviewed record — Hospitalcaptivevenues
    $624,396
    other Hospital Average Gross Sales
    2026 FDD · Item 19 · PDF p. 82
    +4 more groups in the full report

    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.

    Pancheros vs Panda Express: common questions

    Which costs less to open, Pancheros or Panda Express?
    Pancheros: $754,500 – $1,552,500 (2026 FDD · Item 7 · PDF p. 19); Panda Express: $514,500 – $3,275,500 (2026 FDD · Item 7 · PDF p. 29). These are each franchisor's Item 7 estimated initial investment. The low end of the disclosed estimate is lower for Panda Express. Estimates are not quotes, and the FDD years may differ.
    How do Pancheros and Panda Express royalties compare?
    Pancheros: 5% (2026 FDD · Item 6 · PDF p. 12); Panda Express: 8% (2026 FDD · Item 6 · PDF p. 22). Royalties as disclosed in Item 6; other recurring fees are listed separately.
    Which has more locations, Pancheros or Panda Express?
    Pancheros: 73 (2025 FDD · Item 20 · PDF p. 54); Panda Express: 2,502 (2025 FDD · Item 20 · PDF p. 81). Total outlets from Item 20. Outlet counts do not indicate territory availability or franchisee results.
    Do Pancheros and Panda Express disclose financial performance (Item 19)?
    Pancheros has reviewed Item 19 figures for 9 location groups; Panda Express has reviewed Item 19 figures for 7 location groups. 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 Pancheros report

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

    Full Panda Express report

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

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