Jaggers Franchise Cost, Revenue & Review 2026
- Investment
- $3.3M – $4.2M
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Jaggers is a fast-casual franchise serving burgers, chicken sandwiches, and salads with drive-thru service, from the Charley's restaurant group. Franchisees run the restaurants, managing food prep, staffing, and service.
FranchiseVerdict summary · 2026
A Jaggers franchise requires a total initial investment of $3.3M – $4.2M, including a $45K franchise fee and an ongoing 5.0% royalty[2]. 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. 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: 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 scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $3.3M – $4.2M
- 100th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 12th pct Service Resta…
- Units
- 13
- 43rd 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 $3.3M – $4.2M including a $45K franchise fee, 5.0% ongoing royalty.
- 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 59/100 (higher is better).
- GROWTHPositive: net +2 franchised outlets in the latest year (2 opened, 0 closed); 1 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
- Jaggers Development Corporation
- Parent company
- Texas Roadhouse, Inc.
- FDD Item 1, page 7 of the 2025 FDD
- CEO title
- President of JDC; CEO of Texas Roadhouse, Inc.
- Gerald L. Morgan
- CEO experience
- 27 yrs
- Years in role or industry
- Incorporated in
- KY
- HQ
- 6040 Dutchmans Lane, Louisville, Kentucky 40205
- Auditor
- Ernst & Young (implied from TXRH public filings; not explicitly named in text)
- Audited financials
- Franchisor revenue
- $5.4B
- vs $4.6B prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Same owner · FDD Item 1, page 7
1 other brand on this site name Texas Roadhouse, Inc. 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
- Gerald L. Morgan
- Headquarters
- KY
- Founded
- 2019
- FDD year
- 2025
- States available
- 4
Can you afford it, and what does the money buy?
Entry cost runs 673% above the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown20 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Franchise Feenot refundable | $45K | $45K | |
| Leasehold/Building Improvements | $1.5M | $1.7M | |
| Architectural/Engineering/Site Evaluation | $160K | $175K | |
| Builders Risk and OCP Insurance | $3K | $8K | |
| Performance Bonds | $9K | $23K | |
| Furniture, Decor & Fixtures | $70K | $130K | |
| Equipment | $680K | $750K | |
| Signs | $115K | $250K | |
| Insurance | $60K | $140K | |
| Initial Inventory | $22K | $35K | |
| Supplies | $10K | $20K | |
| Smallwares | $20K | $25K | |
| Computer Hardware/Software; POS System/Network Cabling Fees | $250K | $315K | |
| Marketing and Promotional Materials | $1K | $5K | |
| Training Costs/Opening Assistance | $60K | $150K | |
| Licenses, Permits, Incorporation | $25K | $50K | |
| Utility and Telephone Deposits | $5K | $50K | |
| Other Pre-opening Costs Not Listed Above | $60K | $116K | |
| Additional Funds (3 months) | $180K | $250K | |
| Development Fee | $10K | $10K | |
| Total initial investment | $3.3M | $4.2M |
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
- $3.3M – $4.2M
- Bottom third — review vs category
- Liquid capital req'd
- $180K – $250K
- Bottom third — review vs category
- Franchise fee
- $45K – $45K
- Bottom third — review vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 1.5%
- typical 3–5%
- Total fee load
- 6.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.5% |
| Technology fee | $2K |
| Training fee | $2K |
| Transfer fee | $4K |
| Renewal fee | $15K |
| Inventory (initial) | $22K – $35K |
| Total fee load | 6.5% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Jaggers 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 Jaggers 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, 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 6.5% (near the Quick-Service Restaurants median).
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
Net unit growth of +100.0% over 3 years (2 opened, 0 closed).
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 Jaggers 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
- 13
- Opened
- 2
- 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
- 9
- Corporate units in the system
- % franchised
- 31%
- vs corporate-owned
- Net growth (3-yr)
- +100.0%
- Net unit change over 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 1
- 0.08 per open outlet · Item 20 Table 5
- Projected new
- 2
- Franchisor's next-year forecast
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)
Where the owners are · Item 20 owner list
3 current owners across 2 states.
- TX 2
- NC 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.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
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.
No litigation required to be disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Ernst & Young (implied from TXRH public filings; not explicitly named in text)
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Financials are the audited consolidated statements of the parent, Texas Roadhouse, Inc.; JDC's financials are not separately audited but comprise an element of the parent's consolidated statements. Revenue = restaurant and other sales ($5,341,853K) plus franchise royalties and fees ($31,479K), fiscal year ended December 31, 2024.
ⓘ 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: Yes
- 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 59 / 100 verdict
- 01MINORNo Item 19 financial disclosure (average revenue and net income not provided) prevents ROI validation on $3.3M-$4.2M investment
- 02MEDExtremely small unit count (13 total) suggests early-stage brand with limited proven scalability and network effects
- 03MINOR100% YoY growth from very low base (likely 6-7 units prior year) is not statistically meaningful or sustainable validation
- 04MEDHigh initial investment ($3.3M-$4.2M) combined with no disclosed profitability creates acute payback period risk
- 05MED5% royalty on undisclosed sales revenue makes it impossible to calculate true cost of ownership
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.5% 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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Protected territory |
| Protected territory | Yes |
| 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 | 3 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Louisville, Kentucky (mediation; not arbitration) |
| Jury trial waiver | Yes |
| Governing law | KY |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 63 hrs
- On-the-job training
- 652 hrs
- Training location
- Jaggers Training Store, Louisville, Kentucky or other designated location; also company-owned restaurants
- Ongoing training
- Required
- Site selection
- Franchisee selects, franchisor approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- Jaggers-authorized required POS system
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Jaggers-authorized required POS system
Item 20 · call current owners
Franchisee Contacts
3 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 Jaggers franchise?
The total investment to open a Jaggers franchise ranges from $3.3M – $4.2M, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Jaggers franchise owners earn?
Jaggers 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 Jaggers?
Jaggers is franchised by Jaggers Development Corporation. Its parent company is Texas Roadhouse, Inc.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Jaggers 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 Jaggers FDD and qualifies whose outlets they describe.
What is Jaggers's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Jaggers (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 Jaggers franchise locations are there?
As of their most recent FDD filing, Jaggers has 13 total units in the United States, including 4 franchised units and 9 company-owned units. 2 new units were opened in the latest reporting year.
Is Jaggers a good franchise to buy?
FranchiseVerdict rates Jaggers 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
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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.