L & L Hawaiian Barbecue Franchise Cost, Revenue & Review 2026
- Investment
- $254K – $838K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Limited · 12 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
L&L Hawaiian Barbecue is a quick-service franchise serving Hawaiian plate lunches with grilled meats, rice, and macaroni salad. Franchisees run restaurants managing food prep, dine-in and takeout service, and staffing.
FranchiseVerdict summary · 2026
A L & L Hawaiian Barbecue franchise requires a total initial investment of $254K – $838K, including a $35K franchise fee and an ongoing 4.0% royalty[2]. The 2025 FDD on file does not yield a unit-revenue figure we can publish. 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 scored4 of 4 headline figures on this page cite a page of the filing.
Overview
- Investment
- $254K – $838K
- 37th pct Service Resta…
- Avg gross sales
- N/A
- Incl. company outlets
- Royalty
- 4.0%
- 3rd pct Service Resta…
- Units
- 227
- 84th 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 $254K – $838K including a $35K franchise fee, 4.0% ongoing royalty.
- RETURNSItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
- RISKVerdict A (Strongest tier), verdict score 79/100 (higher is better).
- GROWTHPositive: net +2 franchised outlets in the latest year (8 opened, 6 closed); 16 signed but not yet open (Item 20).
- DATAItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- L & L Franchise, Inc.
- CEO title
- Chief Executive Officer and Vice Chair
- Elisia Flores
- Incorporated in
- HI
- HQ
- 2138 Algaroba Street, Honolulu, Hawaii 96826
- Auditor
- AKOAY ALE (Honolulu, Hawaii)
- Audited financials
- Franchisor revenue
- $8.8M
- vs $7.8M prior year
Affiliated brands
- have developed a dist
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Elisia Flores
- Headquarters
- HI
- Founded
- 1991
- FDD year
- 2025
- States available
- 16
Can you afford it, and what does the money buy?
Entry cost runs 12% above the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $20K | $36K |
| Equipment, build-out, other | $199K | $767K |
| Total initial investment | $254K | $838K |
Source: L & L Hawaiian Barbecue 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
- $254K – $838K
- Top 40% of category vs category
- Liquid capital req'd
- $20K – $36K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 4.0%
- Tiered by sales volume · typical 6–8%
- Ad fund
- Currently, $320 per month if your Restaurant is in Hawaii…
- Total fee load
- 3.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 4.0% of gross sales |
| Technology fee | $0 |
| Transfer fee | $8K |
| Renewal fee | $10K |
| Inventory (initial) | $10K – $12K |
| Total fee load | 3.5% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for L & L Hawaiian Barbecue is on file. 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 L & L Hawaiian Barbecue 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, ad fund 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
Includes company-owned outlets
- Item 19 type
- gross sales bands
- Sample size
- 216
- vs category median 19 · large
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
Compared against 781 Quick-Service Restaurants brands
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 3.5% — below the Quick-Service Restaurants median of 7.5%.
Disclosure
Item 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
Operator retention
System expanding at 6.8% CAGR over 3 years across 227 units — operators are staying and new ones are joining.
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 L & L Hawaiian Barbecue 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
- 227
- Opened
- 8
- Last reporting year
- Closed
- 6
- Turnover rate
- 2.6%
- Company-owned
- 7
- Corporate units in the system
- % franchised
- 97%
- vs corporate-owned
- Net growth (3-yr)
- +6.8%
- Net unit change over 3 years
- 3-yr CAGR
- +6.8%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Signed, not yet open
- 16
- 0.07 per open outlet · Item 20 Table 5
- Projected new
- 33
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 16 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.
16
states with franchisees (per FDD Item 12)
Where the owners are · Item 20 owner list
0 current owners across 0 states; 5 former (terminated, transferred or not renewed) listed separately.
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
- 12
- Loan volume
- $2.4M
- Median loan
- $195K
- 50th percentile
- Charge-off rate
- Limited · 12 loans
- Limited SBA coverage: 12 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 12 loans
- 5-yr charge-off
- Limited · 12 loans
- Loans approved 2021+
- Active lenders
- 8
- Defaults
- 1
Vintage analysis
L & L Hawaiian Barbecue charge-off rate by loan vintage
Top lenders financing L & L Hawaiian Barbecue franchisees
Showing 3 of 8 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 L & L Hawaiian Barbecue from SBA 7(a) FOIA data.
Top SBA lenders
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Bank of Hope | 4 | $442K | 0.0% |
| 2 | Heritage Bank | 2 | $506K | N/A |
| 3 | Comerica Bank | 1 | $239K | 0.0% |
| 4 | Readycap Lending, LLC | 1 | $256K | 100.0% |
| 5 | California Bank of Commerce, NA | 1 | $375K | 0.0% |
| 6 | American Savings Bank FSB | 1 | $50K | 0.0% |
| 7 | JPMorgan Chase Bank, National Association | 1 | $25K | 0.0% |
| 8 | United Business Bank | 1 | $500K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| CACalifornia | 6 | 0 | 0.0% |
| WAWashington | 2 | 0 | -- |
| HIHawaii | 1 | 0 | 0.0% |
| NVNevada | 1 | 1 | 100.0% |
| NYNew York | 1 | 0 | 0.0% |
| TXTexas | 1 | 0 | 0.0% |
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
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: the franchisor is a named party (plaintiff).
Three prior arbitration actions, all filed by L & L Franchise Inc. as plaintiff against franchisees for underpayment of fees, false sales reporting, and breach of franchise agreements; awards issued in favor of franchisor in all three cases.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · AKOAY ALE (Honolulu, Hawaii)
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Audited Exhibit D statements (L & L Franchise, Inc.) cover FY2022 and FY2023; most recent audited year is the year ended December 31, 2023. FY2023 total revenues of $8,768,422 comprise royalty and advertising fees $7,609,589, rebate income $650,278, franchise fees $365,500, and other income $143,055. Item 21 cover page references FY2022/2023/2024 but the exhibit only contains FY2022 and FY2023 audited statements. (Item 8 separately cites unaudited total revenue of $9,849,619 for FY ending 12/31/2024.)
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
Score breakdown · what drove the 79 / 100 verdict
- 01MINORVirtually flat unit growth (0.9% YoY) suggests stagnant or declining system health despite 227 locations
- 02MINORThree documented arbitration actions against franchisees within recent period indicate compliance issues and potential franchisor-franchisee relationship strain
- 03MINORUnprotected territory creates direct competition risk; new franchisees could cannibalize sales from nearby units
- 04MINORWide investment range ($253,950–$838,460) indicates unclear startup costs and potential hidden expenses
- 05MINORRoyalty structure (1.5%–4%) variance suggests inconsistent deal terms or performance-based penalties that aren't transparent
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 3.5% 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 | 10 years |
| Allowed renewalsℹ | 1 |
| 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 | Optional |
| Non-compete (years)ℹ | 5 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Honolulu, Hawaii |
| Jury trial waiver | Yes |
| Governing law | HI |
| Litigation count | 3 |
View Item 3 litigation summary
Three prior arbitration actions, all filed by L & L Franchise Inc. as plaintiff against franchisees for underpayment of fees, false sales reporting, and breach of franchise agreements; awards issued in favor of franchisor in all three cases.
Items 10, 11
Training & Operations
- Classroom training
- 13 hrs
- On-the-job training
- 121 hrs
- Training location
- Home office in Honolulu, Hawaii and at designated Restaurants
- Ongoing training
- Required
- Site selection
- Franchisee selects site subject to franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Clover
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Clover
Item 20 · call current owners
Franchisee Contacts
5 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 L & L Hawaiian Barbecue franchise?
The total investment to open a L & L Hawaiian Barbecue franchise ranges from $254K – $838K, 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 L & L Hawaiian Barbecue franchise owners earn?
Item 19 of the L & L Hawaiian Barbecue FDD discloses figures for part of the system but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns L & L Hawaiian Barbecue?
L & L Hawaiian Barbecue is franchised by L & L Franchise, Inc.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the L & L Hawaiian Barbecue 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 L & L Hawaiian Barbecue FDD and qualifies whose outlets they describe.
What is L & L Hawaiian Barbecue's franchise failure rate?
SBA 7(a) loan charge-off data is not available for L & L Hawaiian Barbecue (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 L & L Hawaiian Barbecue franchise locations are there?
As of their most recent FDD filing, L & L Hawaiian Barbecue has 227 total units in the United States, including 220 franchised units and 7 company-owned units. 8 new units were opened in the latest reporting year.
Is L & L Hawaiian Barbecue a good franchise to buy?
FranchiseVerdict rates L & L Hawaiian Barbecue as a A-grade franchise with a verdict score of 79 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
Are you the franchisor?
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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.