Fox’s Pizza Den Franchise Cost, Revenue & Review 2026
- Investment
- $137K – $425K
- Disclosed sales
- not disclosed
- SBA charge-off
- 24.4%
- on 155 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Fox's Pizza Den is a quick-service pizza franchise serving pizzas, its signature Wedgie sandwiches, and more for dine-in, carryout, and delivery. Franchisees run neighborhood shops managing food prep, delivery, and staffing.
FranchiseVerdict summary · 2026
A Fox’s Pizza Den franchise requires a total initial investment of $137K – $425K, including a $20K franchise fee. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. SBA 7(a) loans show a 24.4% charge-off rate across 155 loans[1]. 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 scored4 of 4 headline figures on this page cite a page of the filing.
Overview
- Investment
- $137K – $425K
- 9th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- Flat fee
- Units
- 198
- 83rd pct Service Resta…
- SBA charge-off
- 24.4%
- % of SBA 7(a) loans not repaid · median varies by category
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 $137K – $425K including a $20K franchise fee.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 56/100 (higher is better). SBA loan charge-off rate of 24.4% across 155 loans (well above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +5 franchised outlets in the latest year (8 opened, 3 closed); 3 signed but not yet open (Item 20).
- DATAThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Fox's Pizza Den, Inc.
- CEO title
- President
- James R. Fox III
- Incorporated in
- PA
- HQ
- 4425 William Penn Highway, Murrysville, PA 15668
- Auditor
- Myers, Patsy & Associates, LLC
- Audited financials
- Franchisor revenue
- $1.4M
- vs $1.2M prior year
Overview
About
- CEO
- James R. Fox III
- Headquarters
- PA
- Founded
- 1974
- FDD year
- 2025
- States available
- 19
Can you afford it, and what does the money buy?
Entry cost runs 42% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown14 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $20K | $20K | |
| Initial New Store Grand Opening feenot refundable | $8K | $8K | |
| Site Consulting/Project Management Fee | $8K | $8K | |
| Lease & Utilities deposits | $1K | $7K | |
| Leasehold Improvements, Construction and/or Remodeling | $25K | $150K | |
| Furniture, Fixtures and Equipment | $40K | $135K | |
| Real Estate/Rent | $2K | $7K | |
| Signage | $4K | $15K | |
| Business Licenses and Permits | $3K | $15K | |
| Initial Inventory | $11K | $25K | |
| Advertising | $2K | $5K | |
| Computer System | $850 | $2K | |
| Insurance | $3K | $4K | |
| Additional Funds - 3 months | $10K | $25K | |
| Total initial investment | $137K | $425K |
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
- $137K – $425K
- Top 40% of category vs category
- Liquid capital req'd
- $10K – $25K
- Top 40% of category vs category
- Franchise fee
- $20K – $20K
- Top 40% of category vs category
- Royalty
- $500 per month (increases to $600/month upon renewal); se…
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 1.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | $500 per month for initial term; $600 per month upon renewal |
| Marketing / ad fund | 0.0% of gross sales |
| Technology fee | $0 |
| Training fee | $8K |
| Transfer fee | $3K |
| Renewal fee | $0 |
| Inventory (initial) | $11K – $25K |
| Total fee load | 1.5% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Fox’s Pizza Den makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Fox’s Pizza Den 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 annual revenue, royalty rate, 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.
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
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 1.5% — below the Quick-Service Restaurants median of 7.5%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System roughly stable (+1.5% 3-year CAGR) with 198 units.
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 Fox’s Pizza Den 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 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 198
- Opened
- 8
- Last reporting year
- Closed
- 3
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 1.5%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +1.5%
- Net unit change over 3 years
- 3-yr CAGR
- +1.5%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Not renewed
- 0
- Transferred
- 9
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 3
- 0.02 per open outlet · Item 20 Table 5
- Projected new
- 1
- Franchisor's next-year forecast
- Ceased ops
- 3.6%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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
100 current owners across 14 states.
- PA 42
- OH 10
- MS 9
- LA 7
- GA 6
- MD 6
- MI 6
- AL 3
- AR 3
- NC 3
- DE 2
- CO 1
- +2 more states
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
- 155
- Loan volume
- $15.6M
- Median loan
- $74K
- 50th percentile
- Charge-off rate
- 24.4%
- on 155 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)
- 75.6%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 67
- Defaults
- 33
- Typical loan rate
- 7.0%
- avg rate to borrowers
- vs industry
- N/A
- NAICS 7222
- Jobs supported
- 1,359
- 8.7 per loan
- Lender concentration
- 19%
- top lender's share
Borrower mix: 38% went to startups / new businesses, 62% to established operators
Vintage analysis
Fox’s Pizza Den charge-off rate by loan vintage
Top lenders financing Fox’s Pizza Den franchisees
Showing 3 of 67 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 Fox’s Pizza Den from SBA 7(a) FOIA data.
- Principal loss rate
- 10.9%
- Avg SBA guarantee
- 72%
- Avg interest rate
- 7.00%
- Avg chargeoff amount
- $52K
- Lender concentration
- 18.7%
- Job velocity
- 8.7 per $100K
- Jobs supported
- 1,359
Top SBA lendersTop lender holds 19% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | 29 | N/A | N/A | |
| 2 | 13 | N/A | N/A | |
| 3 | 8 | N/A | N/A | |
| 4 | 7 | N/A | N/A | |
| 5 | 5 | N/A | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| PAPennsylvania | 54 | 8 | 17.8% |
| WVWest Virginia | 17 | 3 | 21.4% |
| OHOhio | 14 | 3 | 21.4% |
| GAGeorgia | 10 | 4 | 50.0% |
| MSMississippi | 10 | 1 | 12.5% |
| WIWisconsin | 6 | 2 | 40.0% |
| FLFlorida | 5 | 0 | 0.0% |
| LALouisiana | 5 | 2 | 40.0% |
| TNTennessee | 5 | 0 | 0.0% |
| TXTexas | 5 | 1 | 20.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
A 24.4% charge-off rate means roughly 1 in 4 franchisees failed to repay their SBA loan. Investigate what changed.
What could kill this investment?
SBA loans charge off at 24.4% — 53% above the 16.0% national norm, i.e. higher 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
Fox's Pizza Den shows stagnant growth, opaque financials, and a royalty structure misaligned with franchisee success, suggesting moderate-to-high execution risk without proven unit economics.
Why this reads harsher than the B grade: the grade weighs financial health, unit economics, unit growth, scale, legal, and transparency across the whole filing, while this summary lists individual flags without that weighting. The flags are worth checking with current owners; neither is investment advice.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed in Item 3
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Myers, Patsy & Associates, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Total income for FYE June 30, 2025 comprised franchise sales $103,524, franchise royalties $895,951, licensing fees $264,937, and miscellaneous income $117,880.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 56 / 100 verdict
- 01MINORDeclining unit count: 198 units represents only 2.6% YoY growth, indicating stagnation in a mature pizza market
- 02MINORNo Item 19 financial disclosure: Franchisor refuses to disclose average unit volumes or net income, preventing ROI verification
- 03MINORHigh investment-to-royalty ratio: $136,600–$424,500 startup cost against only $500/month royalty suggests weak franchisor support model and reliance on franchise fees for revenue
- 04MINORShort 5-year term: Unusually brief renewal cycle creates reinvestment uncertainty and limits long-term planning
- 05MEDMinimal disclosed litigation transparency: No lawsuits disclosed may indicate outdated FDD or inadequate disclosure practices
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 1.5% 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 | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 5 days |
| Termination groundsℹ | 2 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Franchisor's headquarters (Murrysville, PA) |
| Jury trial waiver | Yes |
| Governing law | PA |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 70 hrs
- Training location
- Franchisee's retail store
- Ongoing training
- Required
- Time to open
- 4 mo
- From signing to launch
- Site selection
- Franchisee selects site, franchisor approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- ArrowPOS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ArrowPOS
Item 20 · call current owners
Franchisee Contacts
100 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 Fox’s Pizza Den franchise?
The total investment to open a Fox’s Pizza Den franchise ranges from $137K – $425K, with an initial franchise fee of $20K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Fox’s Pizza Den franchise owners earn?
Fox’s Pizza Den makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Fox’s Pizza Den?
Fox’s Pizza Den is franchised by Fox's Pizza Den, Inc.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Fox’s Pizza Den 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 Fox’s Pizza Den FDD and qualifies whose outlets they describe.
What is Fox’s Pizza Den's franchise failure rate?
Based on SBA 7(a) loan data, Fox’s Pizza Den has a charge-off rate of 24.4% across 155 loans, meaning 24.4% 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 Fox’s Pizza Den franchise locations are there?
As of their most recent FDD filing, Fox’s Pizza Den has 198 total units in the United States, including 198 franchised units and 0 company-owned units. 8 new units were opened in the latest reporting year.
Is Fox’s Pizza Den a good franchise to buy?
FranchiseVerdict rates Fox’s Pizza Den as a B-grade franchise with a verdict score of 56 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.