FranchiseVerdict
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FV-01328·MODERATEExcellent81

Jaggers

Food & Beverage - Full ServiceFranchising since 2020Website
Investment
$3.3M – $4.2M
99th pct Full Service
Avg revenue
57th pct Full Service
Royalty
5.0%
15th pct Full Service
Units
13
47th pct Full Service
SBA default

Bottom line

  • Total investment $3.3M – $4.2M including a $45K franchise fee, 5.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated MODERATE with a risk score of 62/100.
  • 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
Jaggers Development Corporation
Parent company
Texas Roadhouse, Inc.
Incorporated in
Kentucky
HQ
6040 Dutchmans Lane, Louisville, Kentucky 40205
Auditor
KPMG LLP
Audited financials
Franchisor revenue
$4.6M
vs $5.4M prior year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one Jaggers unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: generic
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $3.3M–$4.2M
Working capital
$
FDD reports $180K–$250K

Unlevered ROIC · per unit

3%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$124K
EBITDA margin
16.5%
Total invested
$4.0M
Payback
385 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Overview

About

Jaggers franchisees operate [BUSINESS MODEL NOT DISCLOSED IN PROVIDED DATA]. Without disclosed average unit volumes or business description, the actual day-to-day operational scope, staffing requirements, and revenue drivers remain unspecified, preventing meaningful operational due diligence.

CEO
Gerald L. Morgan
Founded
2019
FDD year
2025
States available
4

Item 7 · what it costs

The Vitals

Total investment
$3.3M – $4.2M
All-in to open one unit
Liquid capital
$180K – $250K
Cash you must have on hand
Franchise fee
$45K
Royalty
5.0%
Gross Sales · typical 6–8%
Ad fund
1.5%
typical 3–5%
Total fee load
6.5%
vs 9–13% typical

Item 19

Financial Performance

This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.

Item 20 · unit dynamics

The Growth Chart

Total units
13
Opened
2
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
9
Corporate units in the system
% franchised
31%
vs corporate-owned
Net growth (yr3)
+100.0%
Net unit change last year
2023
4+2
Franchised units
2024
2
Franchised units
2025
0
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 12 · 4 states 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.

4

states with franchisees (per FDD Item 12)

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

No SBA loan data available for this brand.

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

62
Risk · 0-100
MODERATE62 / 100

Early-stage franchise with minimal operational history, undisclosed financials, and corporate going concern issues presents substantial capital-at-risk with unvalidated return projections.

Score breakdown · what drove the 62 / 100 rating

  1. 01MINORNo Item 19 financial disclosure (average revenue and net income not provided) prevents ROI validation on $3.3M-$4.2M investment
  2. 02HIGHGoing Concern status is FALSE, indicating potential financial instability or uncertainty at corporate level
  3. 03MEDExtremely small unit count (13 total) suggests early-stage brand with limited proven scalability and network effects
  4. 04MINOR100% YoY growth from very low base (likely 6-7 units prior year) is not statistically meaningful or sustainable validation
  5. 05MEDHigh initial investment ($3.3M-$4.2M) combined with no disclosed profitability creates acute payback period risk
  6. 06MED5% royalty on undisclosed sales revenue makes it impossible to calculate true cost of ownership

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Assigned Area
Protected territory
Yes
Initial term
10 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
No
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Required
Governing law
Kentucky

Item 11

Training & Operations

Classroom training
63 hrs
On-the-job training
322 hrs
POS system
Jaggers-authorized required POS system
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

3 numbers

Locked
(512) 739-••••
TX
(214) 373-••••
TX
(919) 794-••••
NC

One-time purchase · CSV download · Validation questions included

FDD download

Jaggers · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above