Denny's Franchise Cost, Revenue & Review 2026
- Investment
- $1.6M – $3.1M
- Disclosed sales
- $1.9M
- gross sales, not profit
- SBA charge-off
- 7.5%
- on 283 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Denny's is a full-service, family-style diner franchise serving moderately priced American classics around the clock. Franchisees operate individual restaurants in the flagship Diner 2.0 format or the smaller, non-traditional The Den concept.
FranchiseVerdict summary · 2026
A Denny's franchise requires a total initial investment of $1.6M – $3.1M, including a $30K franchise fee and an ongoing 4.5% royalty[2]. Per the 2025 FDD, average unit revenue was $1.9M[2]. SBA 7(a) loans show a 7.5% charge-off rate across 283 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $1.6M – $3.1M
- 37th pct Service Resta…
- Avg gross sales
- $1.9M
- 9th pct Service Resta…
- Royalty
- 4.5%
- 6th pct Service Resta…
- Units
- 1,334
- 37th pct Service Resta…
- SBA charge-off
- 7.5%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Full-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 $1.6M – $3.1M including a $30K franchise fee, 4.5% ongoing royalty.
- RETURNSAverage unit revenue of $1.9M/year (median $1.8M).
- RISKVerdict A (Strongest tier), verdict score 73/100 (higher is better). SBA loan charge-off rate of 7.5% across 283 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHNegative: net -69 franchised outlets in the latest year (12 opened, 68 closed); 2 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
- DFO, LLC
- Parent company
- Denny's, Inc.
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- Sparkle Topco Corp.
- FDD Item 1, page 9 of the 2025 FDD
- Predecessor
- Denny's, Inc.
- Prior franchisor entity
- CEO title
- President and Chief Executive Officer
- Chris Bode
- Incorporated in
- Delaware
- HQ
- 203 East Main Street, Spartanburg, SC 29319
- Auditor
- KPMG LLP
- Audited financials
- Franchisor revenue
- $196.3M
- vs $200.4M prior year
Same owner · FDD Item 1, page 9
1 other brand on this site name Sparkle Topco Corp. as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2025 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Chris Bode
- Headquarters
- SC
- Founded
- 1994
- FDD year
- 2025
- States available
- 49
Can you afford it, and what does the money buy?
Entry cost runs 245% above the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $30K | $30K |
| Working capital (3–6 mo) | $50K | $150K |
| Equipment, build-out, other | $1.5M | $2.9M |
| Total initial investment | $1.6M | $3.1M |
Source: Denny's 2025 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
- $1.6M – $3.1M
- Top 40% of category vs category
- Liquid capital req'd
- $50K – $150K
- Top 40% of category vs category
- Franchise fee
- $30K – $30K
- Top 40% of category vs category
- Royalty
- 4.5%
- Tiered by sales volume · typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 7.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 4.5% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $55 |
| Transfer fee | $5K |
| Renewal fee | $10K |
| Inventory (initial) | $20K – $30K |
| Total fee load | 7.5% of rev |
What do units actually make?
Average unit sales run 20% above the full-service restaurants norm.
Source: FDD 2025 · 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 Denny's 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
$2.4M
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 Denny's 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: 2025 FDD
Financial Performance
- Avg gross sales
- $1.9M
- Per unit, per year
- Median gross sales
- $1.8M
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
- 1,237 outlets
- vs category median 18 · large
- Range (low → high)
- $611K→$4.6MCited, not corroborated — printed on page 80 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 9 / 10
- vs category median 3 / 10 · above
Compared against 801 Full-Service Restaurants brands
Revenue is only 0.8x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
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 $1.9M/year in gross sales. Revenue-to-investment ratio: 0.8x.
Fee burden
Total ongoing fee load of 7.5% (near the Full-Service Restaurants median).
Disclosure
Transparency score 9/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System contracting at -7.7% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
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 Full-Service Restaurants medians
How Denny's Compares
Category median of published Full-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 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1,334
- Opened
- 12
- Last reporting year
- Closed
- 68
- Terminated
- 4
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 6.5%
- Company-owned
- 61
- Corporate units in the system
- % franchised
- 95%
- vs corporate-owned
- Net growth (3-yr)
- -7.7%
- Net unit change over 3 years
- 3-yr CAGR
- -7.7%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 4
- Not renewed
- 0
- Transferred
- 18
- Reacquired
- 1
- Franchisor bought back
- Signed, not yet open
- 2
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 18
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 8 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
15 current owners across 8 states.
- FL 4
- CA 2
- MI 2
- NY 2
- OH 2
- NV 1
- SC 1
- WA 1
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.
- Total loans
- 283
- Loan volume
- $204.8M
- Median loan
- $700K
- 50th percentile
- Charge-off rate
- 7.5%
- on 283 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 92.5%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 72
- Defaults
- 16
- Typical loan rate
- 6.1%
- avg rate to borrowers
- Franchised industry avg
- 13.2%
- brand beats franchise avg ↓
- Jobs supported
- 2,769
- 6.2 per loan
- Lender concentration
- 12%
- top lender's share
Borrower mix: 6% went to startups / new businesses, 94% to established operators
Franchise vs independent — in full-service restaurants, franchised businesses charge off at 13.2% vs 9.7% for independents — franchising is associated with 36% higher SBA default risk in this category.
Vintage analysis
Denny's charge-off rate by loan vintage
Top lenders financing Denny's franchisees
Showing 3 of 72 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Denny's from SBA 7(a) FOIA data.
- Principal loss rate
- 1.0%
- Avg SBA guarantee
- 74%
- Avg interest rate
- 6.13%
- Avg chargeoff amount
- $432K
- Lender concentration
- 12.2%
- Job velocity
- 6.2 per $100K
- NAICS benchmark
- 7.4%
- NAICS 722511
- Jobs supported
- 2,769
Top SBA lendersTop lender holds 12% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Simmons Bank | 6 | $5.1M | 0.0% |
| 2 | US Metro Bank | 5 | $2.6M | 0.0% |
| 3 | Columbia Bank | 4 | $3.0M | 0.0% |
| 4 | KeyBank National Association | 4 | $2.1M | 0.0% |
| 5 | Northwest Bank | 3 | $2.5M | 0.0% |
| 6 | Celtic Bank Corporation | 2 | $2.3M | 0.0% |
| 7 | First Interstate Bank | 2 | $4.3M | 0.0% |
| 8 | TD Bank, National Association | 2 | $1.8M | 0.0% |
| 9 | iTHINK Financial CU | 2 | $1.7M | 0.0% |
| 10 | Evolve Bank and Trust | 1 | $1.3M | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| CACalifornia | 12 | 0 | 0.0% |
| WAWashington | 8 | 0 | 0.0% |
| FLFlorida | 7 | 0 | 0.0% |
| OROregon | 3 | 0 | 0.0% |
| TXTexas | 3 | 0 | 0.0% |
| ILIllinois | 2 | 0 | 0.0% |
| MOMissouri | 2 | 0 | 0.0% |
| AKAlaska | 1 | 0 | 0.0% |
| COColorado | 1 | 0 | 0.0% |
| NCNorth Carolina | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
SBA loans charge off at 7.5% — 53% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Denny's presents caution-level risk due to a shrinking franchise system, unresolved litigation over fee disputes, unprotected territories, and lack of earnings transparency.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Three disclosed cases: (1) 50 East Thousand Oaks, LLC v. Denny's, Inc. - breach of contract/misrepresentation over a landlord franchise agreement, settled for $115,000; (2) Rogers Family Foods, LLC v. DFO, LLC - dispute over royalty/brand building fees under an expired franchise agreement, resolved via successor agreement, dismissed with prejudice; (3) RWDT Foods, Inc. v. DFO, LLC and Denny's, Inc. - ongoing breach of contract/fraud/interference litigation, discovery ongoing as of the disclosure date.
Largest disclosed settlement: $115,000
Bankruptcy (Item 4)
Subject: an officer. An officer’s own bankruptcy or a company an officer ran, not the franchisor’s
One proceeding was filed in the US Bankruptcy Court for the District of Arizona under Chapter 13 of the Bankruptcy Code naming Balbair Pal as joint debtor. An order of discharge was granted on June 12, 2020, discharging most debts (Case No. 2-15-bk-13711BKM).
Audited financials (Item 21)
Yes · KPMG LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 73 / 100 verdict
- 01MINORSystem declining 5.1% YoY (1,334 units) indicates contraction and potential market saturation
- 02HIGHActive litigation involving breach of contract and royalty disputes suggests franchisor relationship issues
- 03MINORUnprotected territory creates direct competition risk from other Denny's franchisees in same area
- 04MINORWide investment range ($255K-$3M+) and royalty spread (4.5%-7%) lacks transparency on cost drivers
- 05MINORHigh royalty burden (up to 7%) against modest net income ($845K avg) pressures unit profitability
Severity inferred from the FDD text · not a regulatory classification
Litigation case detail3 matters · Item 3
Litigation cases
The franchisor
Pending (1)
RWDT FOODS, INC. v DFO, LLC AND DENNY’S, INC.
pendingThird-party plaintiff · filed 2022-08-30 · Court of Common Pleas for Charleston County, South Carolina · 2022-CP-1004030
“RWDT FOODS, INC. v DFO, LLC AND DENNY’S, INC.; (Court of Common Pleas for Charleston County, South Carolina, Case No. 2022-CP-1004030) On August 30, 2022, RWDT, Inc. filed a complaint against DFO, LLC and Denny’s, Inc. (collec- tively, “Denny’s”)”Page 15 of the 2025 FDD, Item 3
Concluded (1)
Rogers Family Foods, LLC v DFO, LLC
dismissedBrought by a franchisee · filed 2019-06-05 · United States District Court, District of Minnesota · 19-CV-1476
“Case No. 19-CV-1476) On June 5, 2019, Rogers Family Foods, LLC (Plaintiff) filed a complaint against DFO, LLC (De- fendant) in the United States District Court, District of Minnesota alleging continued royalty and brand building fees under Plaintiff’s expired franchise agreement instead of the increased rates under a new successor franchise agreement.”Page 15 of the 2025 FDD, Item 3
Outcome:“The parties reached an agreement, and a successor franchise agreement was signed on January 20, 2021. Each party assumed its own costs, expenses, disbursements, and attorneys’ fees pursuant to the Stipulation for Dismissal with Prejudice filed January 21, 2021. Order for Dismissal with Prejudice granted January 22, 2021.”
Parent, affiliates and predecessor
Concluded (1)
50 East Thousand Oaks, LLC v Denny’s, Inc.
settledThird-party plaintiff · Denny’s, Inc. (DI) · filed 2014-10-24 · Superior Court of California, County of Ventura · 56-2014-00456852-CU-CO-VTA
“50 East Thousand Oaks, LLC v Denny’s, Inc. (Superior Court of California, County of Ventura, Case No. 56-2014-00456852-CU-CO-VTA) On October 24, 2014, 50 East Thousand Oaks, LLC (Plaintiff), filed a complaint against Denny’s, Inc. in the Ventura County Superior Court alleging breach of contract and intentional and negligent misrepresentation.”Page 15 of the 2025 FDD, Item 3
Outcome:“The Plaintiff, as owner of property underlying a company restaurant that has since closed, was the successor in interest to an agreement with our affiliate DI, which would allow the landlord to operate a Denny's franchise at the location under certain conditions.”
Item 3 lists the litigation the franchisor must disclose; a matter against a parent, an affiliate or a named officer is not a matter against the franchisor, and pending claims are allegations, not findings.
What are you signing up for?
Ongoing fees run about 7.5% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 0 |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| 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 | 15 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 17 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | South Carolina |
| Litigation count | 3 |
View Item 3 litigation summary
Three disclosed cases: (1) 50 East Thousand Oaks, LLC v. Denny's, Inc. - breach of contract/misrepresentation over a landlord franchise agreement, settled for $115,000; (2) Rogers Family Foods, LLC v. DFO, LLC - dispute over royalty/brand building fees under an expired franchise agreement, resolved via successor agreement, dismissed with prejudice; (3) RWDT Foods, Inc. v. DFO, LLC and Denny's, Inc. - ongoing breach of contract/fraud/interference litigation, discovery ongoing as of the disclosure date.
Items 10, 11
Training & Operations
- Classroom training
- 8 hrs
- On-the-job training
- 400 hrs
- Training location
- Approved STAR Training Restaurants
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Standard Enterprise Technology Platform
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Standard Enterprise Technology Platform
Item 20 · call current owners
Franchisee Contacts
15 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 Denny's franchise?
The total investment to open a Denny's franchise ranges from $1.6M – $3.1M, with an initial franchise fee of $30K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Denny's franchise owners earn?
According to Item 19 of the Denny's FDD, the average gross sales per unit is $1.9M. The median is $1.8M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Denny's?
Denny's is franchised by DFO, LLC. Its parent company is Denny's, Inc.. The ultimate parent named in the FDD is Sparkle Topco Corp.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Denny's 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 Denny's FDD and qualifies whose outlets they describe.
What is Denny's's franchise failure rate?
Based on SBA 7(a) loan data, Denny's has a charge-off rate of 7.5% across 283 loans, meaning 7.5% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Denny's franchise locations are there?
As of their most recent FDD filing, Denny's has 1,334 total units in the United States, including 1,273 franchised units and 61 company-owned units. 12 new units were opened in the latest reporting year.
Is Denny's a good franchise to buy?
FranchiseVerdict rates Denny's as a A-grade franchise with a verdict score of 73 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
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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.