Country Waffles Breakfast & LunchFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Country Waffles Breakfast & Lunch franchise requires a total initial investment of $312K – $809K, including a $35K franchise fee and an ongoing 5.0% royalty[2]. The 2023 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: C. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2023 FDD issuance
Overview
- Investment
- $312K – $809K
- 19th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 5.0%
- 7th pct Service Resta…
- Units
- 16
- 25th pct Service Resta…
- SBA default
- N/A
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Franchising since 1992. Systems this mature have refined operations and brand recognition.
Bottom line
- Total investment $312K – $809K including a $35K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict C (Average) with a risk score of 69/100.
- No Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Country Waffles, Inc.
- Incorporated in
- CA
- HQ
- 4011 Jewett Avenue, Bakersfield, California 93301
- Auditor
- Dedekian, George, Small & Markarian Accountancy Corporation
- Audited financials
- Franchisor revenue
- $423K
- vs $506K prior year
Overview
About
Franchisees operate casual breakfast and lunch restaurants serving waffles, pancakes, and related comfort food items. Day-to-day responsibilities include managing kitchen and front-of-house staff, sourcing ingredients, maintaining brand consistency, handling inventory, managing customer service, and driving local marketing to compete in the crowded breakfast/lunch segment.
- CEO
- Joe T. Ghazale
- Headquarters
- CA
- Founded
- 1987
- FDD year
- 2023
- States available
- 1
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $30K | $90K |
| Equipment, build-out, other | $247K | $684K |
| Total initial investment | $312K | $809K |
Source: Country Waffles Breakfast & Lunch 2023 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $312K – $809K
- Better than avg vs category
- Liquid capital req'd
- $30K – $90K
- Better than avg vs category
- Franchise fee
- $35K – $35K
- Better than avg vs category
- Royalty
- 5.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $0 |
| Transfer fee | $18K |
| Renewal fee | $10K |
| Total fee load | 7.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Country Waffles Breakfast & Lunch Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 16
- Opened
- 1
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (yr3)
- +6.7%
- Net unit change last year
- 3-yr CAGR
- +6.7%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
1
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Country Waffles presents CAUTION-level risk due to undisclosed unit economics, minimal system growth, and lack of performance transparency that prevents informed investment analysis.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Dedekian, George, Small & Markarian Accountancy Corporation
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 69 / 100 rating
- 01MINORNo Item 19 financial performance disclosure (revenue/net income) makes ROI validation impossible
- 02MEDMinimal system growth of 6.7% YoY with only 16 units suggests limited scalability or market validation
- 03MINORWide investment range ($311,800–$808,600) indicates inconsistent build-out costs or territory variability
- 04HIGHNo going concern statement is unusual and may indicate financial uncertainty at corporate level
- 05MINORHigh franchise fee ($35,000) relative to system size and growth rate suggests reliance on recruitment vs. franchisee success
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 15 years |
|---|---|
| Renewal term | 15 years |
| Allowed renewalsℹ | 2 |
| Territory type | protected |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 142 hrs
- Training location
- On-site and corporate
- POS system
- Approved POS System
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Approved POS System
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Country Waffles Breakfast & Lunch franchise?
The total investment to open a Country Waffles Breakfast & Lunch franchise ranges from $312K – $809K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Country Waffles Breakfast & Lunch franchise owners earn?
Country Waffles Breakfast & Lunch does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Country Waffles Breakfast & Lunch's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Country Waffles Breakfast & Lunch (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 Country Waffles Breakfast & Lunch franchise locations are there?
As of their most recent FDD filing, Country Waffles Breakfast & Lunch has 16 total units in the United States, including 15 franchised units and 0 company-owned units. 1 new units were opened in the latest reporting year.
Is Country Waffles Breakfast & Lunch a good franchise to buy?
FranchiseVerdict rates Country Waffles Breakfast & Lunch as a C-grade franchise with a risk score of 69 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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.
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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.