Angry Chickz Franchise Cost, Revenue & Review 2026
- Investment
- $611K – $1.5M
- Disclosed sales
- $2.7M
- gross sales, not profit
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Angry Chickz is a fast-casual franchise specializing in Nashville hot chicken tenders and sandwiches with sides. Franchisees run the restaurants, managing food prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Angry Chickz franchise requires a total initial investment of $611K – $1.5M, including a $50K franchise fee and an ongoing 6.0% royalty[2]. Per the 2026 FDD, average unit revenue was $2.7M[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored7 of 7 headline figures on this page cite a page of the filing.
Overview
- Investment
- $611K – $1.5M
- 82nd pct Service Resta…
- Avg gross sales
- $2.7M
- Company-owned only
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 34
- 59th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $611K – $1.5M including a $50K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $2.7M/year (company-owned outlets only - not franchisee performance).
- RISKVerdict B (Above average), verdict score 59/100 (higher is better).
- GROWTHPositive: net +1 franchised outlets in the latest year (1 opened, 0 closed); 4 signed but not yet open (Item 20).
- FLAGItem 4 discloses a bankruptcy of an officer or of a company an officer ran, not of the franchisor. Review Item 4 for details.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Angry Chickz Franchising LLC
- Parent company
- Angry Chickz Inc.
- FDD Item 1, page 7 of the 2026 FDD
- CEO title
- Chief Executive Officer
- David Mkhitaryan
- CEO experience
- 2018 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- California
- HQ
- 15301 Ventura Boulevard, Building B Suite 250, Sherman Oaks, California 91403
- Auditor
- Moss Adams
- Audited financials
- Franchisor revenue
- $279K
- vs $210K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- David Mkhitaryan
- Headquarters
- California
- Founded
- 2023
- FDD year
- 2026
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 119% above the typical quick-service restaurants franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $50K | $50K | |
| Construction and Leasehold Improvements | $240K | $625K | |
| Architectural/ Engineering | $15K | $30K | |
| Accountant and Attorney | $3K | $4K | |
| Equipment | $80K | $260K | |
| Furniture & Fixtures | $50K | $140K | |
| Signage | $17K | $65K | |
| Opening Inventory, uniforms and Supplies | $37K | $63K | |
| Smallwares | $11K | $14K | |
| Computer Equipment & Information Systems | $9K | $20K | |
| Security System | $10K | $15K | |
| Grand Opening Support Fee & Market Introduction Program | $35K | $55K | |
| Prepaid Expenses, Licenses and Permits | $3K | $15K | |
| Wages, Travel and Living Expenses During Training | $15K | $50K | |
| Rescheduling /Training Fee | $0 | $5K | |
| Site Review Kits, Site Visit Costs | $0 | $1K | |
| Rent / Lease Deposit | $15K | $40K | |
| Insurance and Utility Deposits | $2K | $5K | |
| Additional Funds 3 Months | $20K | $55K | |
| Total initial investment | $611K | $1.5M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $611K – $1.5M
- Bottom third — review vs category
- Liquid capital req'd
- $20K – $55K
- Top 40% of category vs category
- Franchise fee
- $50K – $50K
- Bottom third — review vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $600 |
| Training fee | $5K |
| Transfer fee | $13K |
| Renewal fee | $13K |
| Inventory (initial) | $37K – $63K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 181% above the quick-service restaurants norm.
Company-owned outlets only - not franchisee performance
Source: FDD 2026 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Angry Chickz until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$1.1M
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Angry Chickz unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
Company-owned outlets only - not franchisee performance
- Avg gross sales
- $2.7M
- Per unit, per year
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical
- Sample size
- 27 outlets
- vs category median 19
- Range (low → high)
- $752K→$6.8MCited, not corroborated — printed on page 50 of the 2026 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 781 Quick-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $2.7M/year in gross sales. Revenue-to-investment ratio: 2.6x. Company-owned outlets only - not franchisee performance.
Fee burden
Total ongoing fee load of 8.0% (near the Quick-Service Restaurants median).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Quick-Service Restaurants medians
How Angry Chickz Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 34
- Opened
- 1
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 32
- Corporate units in the system
- % franchised
- 6%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 4
- 0.12 per open outlet · Item 20 Table 5
- Projected new
- 23
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 4 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
0 current owners across 0 states; 4 former (terminated, transferred or not renewed) listed separately.
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
There is no litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
Subject: an officer. An officer’s own bankruptcy or a company an officer ran, not the franchisor’s
CEO David Mkhitaryan filed Chapter 7 personal bankruptcy in US Bankruptcy Court, Central District of California (Case No. 1:19-bk-12181-vk) on August 29, 2019; discharged December 9, 2019.
Audited financials (Item 21)
Yes · Moss Adams
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 59 / 100 verdict
- 01MINOROnly 28 units with unknown growth trajectory — insufficient scale to validate unit economics or system health
- 02MEDHigh capital requirement ($603K-$1.32M) paired with undisclosed profitability creates significant downside risk
- 03MINOR6% royalty on $2.1M average revenue = $126K annual corporate take, insufficient to support franchise infrastructure if system is struggling
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 19 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | Yes |
| Arbitration location | Within 25 miles of the franchisor's principal business address, at a location chosen by the arbitrator |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 0 |
View Item 3 litigation summary
There is no litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 80 hrs
- On-the-job training
- 70 hrs
- Training location
- Angry Chickz headquarters (Sherman Oaks/Thousand Oaks, California) and designated training restaurant
- Ongoing training
- Required
- Field support
- 40 hrs/yr
- On-site visits per year
- Time to open
- 12 mo
- From signing to launch
- Site selection
- Franchisee identifies proposed site; franchisor reviews and approves/rejects under its then-current site standards
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
4 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Angry Chickz franchise?
The total investment to open a Angry Chickz franchise ranges from $611K – $1.5M, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Angry Chickz franchise owners earn?
According to Item 19 of the Angry Chickz FDD, the average gross sales per unit is $2.7M. Important context: Company-owned outlets only - not franchisee performance. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Angry Chickz?
Angry Chickz is franchised by Angry Chickz Franchising LLC. Its parent company is Angry Chickz Inc.. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Angry Chickz FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Angry Chickz FDD and qualifies whose outlets they describe.
What is Angry Chickz's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Angry Chickz (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Angry Chickz franchise locations are there?
As of their most recent FDD filing, Angry Chickz has 34 total units in the United States, including 2 franchised units and 32 company-owned units. 1 new units were opened in the latest reporting year.
Is Angry Chickz a good franchise to buy?
FranchiseVerdict rates Angry Chickz as a B-grade franchise with a verdict score of 59 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
If you represent Angry Chickz, you can request corrections or provide updated information.
Other Quick-Service Restaurants franchises
Compare similar franchise opportunities in the Quick-Service Restaurants category
Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.