Outback Steakhouse Franchise Cost, Revenue & Review 2026
- Investment
- $4.3M – $8.4M
- Disclosed sales
- not disclosed
- SBA charge-off
- Under 10 loans (2)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Outback Steakhouse is a casual-dining franchise serving Australian-themed steaks, ribs, and its signature Bloomin' Onion, with a full bar. Franchisees operate full-service restaurants managing a large kitchen, bar, and service team.
FranchiseVerdict summary · 2026
A Outback Steakhouse franchise requires a total initial investment of $4.3M – $8.4M, including a $40K 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: high - issued more than two years ago
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 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $4.3M – $8.4M
- 40th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 8th pct Service Resta…
- Units
- 688
- 37th pct Service Resta…
- SBA charge-off
- N/A
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 $4.3M – $8.4M including a $40K 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 65/100 (higher is better).
- GROWTHNegative: net -1 franchised outlets in the latest year (0 opened, 1 closed) (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
- Outback Steakhouse of Florida, LLC
- Parent company
- OSI Restaurant Partners, LLC
- FDD Item 1, page 13 of the 2024 FDD
- Ultimate parent
- Bloomin' Brands, Inc.
- FDD Item 1, page 13 of the 2024 FDD
- CEO title
- Executive Vice President, President of Outback Steakhouse
- Brett Patterson
- Incorporated in
- FL
- HQ
- 2202 North West Shore Boulevard, 5th Floor, Tampa, Florida 33607
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $4.7B
- vs $4.4B prior year
Same owner · FDD Item 1, page 13
1 other brand on this site name Bloomin' Brands, Inc. as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2024 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
- Brett Patterson
- Headquarters
- FL
- Founded
- 1987
- FDD year
- 2024
- States available
- 18
Can you afford it, and what does the money buy?
Entry cost runs 839% above the typical full-service restaurants franchise.
Source: FDD 2024 · Items 5–7
Full Item 7 breakdown19 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $40K | $40K | |
| Building Constructionnot refundable | $2.0M | $2.7M | |
| Site Constructionnot refundable | $50K | $1.0M | |
| Design & Site Developmentnot refundable | $41K | $337K | |
| Furniture, Fixtures, and Equipmentnot refundable | $950K | $1.1M | |
| Signagenot refundable | $80K | $250K | |
| Inventory - First 3 Monthsnot refundable | $397K | $583K | |
| Liquor Licensenot refundable | $1K | $815K | |
| Utilities - First 3 Monthsnot refundable | $27K | $52K | |
| Opening Crewnot refundable | $64K | $138K | |
| Pre-Opening Food and Beverage Costs for Trainingnot refundable | $11K | $37K | |
| Pre-Opening Suppliesnot refundable | $10K | $15K | |
| Pre-Opening Labor and Training Expensesnot refundable | $42K | $88K | |
| Other Miscellaneous Opening Expensesnot refundable | $14K | $64K | |
| Insurance Costsnot refundable | $75K | $125K | |
| Staffing & Employment Costs - First 3 Monthsnot refundable | $399K | $715K | |
| Legal Costsnot refundable | $15K | $70K | |
| Rent - First 3 Months | $10K | $137K | |
| Additional Funds - First 3 Monthsnot refundable | $77K | $153K | |
| Total initial investment | $4.3M | $8.4M |
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
- $4.3M – $8.4M
- Middle of category vs category
- Liquid capital req'd
- $77K – $153K
- Top 40% of category vs category
- Franchise fee
- $40K – $40K
- Top 40% of category vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 2.5%
- typical 3–5%
- Total fee load
- 7.7%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of net sales |
| Marketing / ad fund | 2.5% of net sales |
| Technology fee | $75 |
| Transfer fee | $1K |
| Renewal fee | $20K |
| Inventory (initial) | $397K – $583K |
| Total fee load | 7.7% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Outback Steakhouse 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 Outback Steakhouse 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: 2024 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 7.7% (near the Full-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
System contracting at -3.1% 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 Outback Steakhouse 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 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 688
- Opened
- 0
- Last reporting year
- Closed
- 1
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 9.5%
- Company-owned
- 562
- Corporate units in the system
- % franchised
- 18%
- vs corporate-owned
- Net growth (3-yr)
- -3.1%
- Net unit change over 3 years
- 3-yr CAGR
- -3.1%
- Compounded over last 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
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 18 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
125 current owners across 18 states; 1 former (terminated, transferred or not renewed) listed separately.
- CA 44
- WA 13
- CO 12
- AZ 10
- NV 10
- MS 6
- NM 5
- OR 5
- ID 4
- UT 4
- MT 3
- TN 2
- +6 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 loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- $587K
- Median loan
- $294K
- average
- Charge-off rate
- Under 10 loans (2)
- Insufficient SBA coverage: 2 loans, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (2)
- 5-yr charge-off
- Under 10 loans (2)
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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
Outback Steakhouse presents caution-level risk: high capital requirements, unit decline, absent financial transparency, and historical regulatory issues in a structurally challenged casual dining sector.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
Bonefish Grill affiliate consent order with Washington DFI for selling two franchises in WA without registration; agreed to cease and desist and pay $2,000 investigative costs
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Audited consolidated financials are those of the ultimate parent, Bloomin' Brands, Inc. (fiscal year ended December 31, 2023). Total revenues comprise Restaurant sales ($4,607,408K) and Franchise and other revenues ($64,062K). Net income attributable to Bloomin' Brands was $247,386K; consolidated net income (including noncontrolling interests) was $254,414K. Net worth shown is total stockholders' equity including $2,881K noncontrolling interests; Bloomin' Brands stockholders' equity alone was $409,122K.
ⓘ 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: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 65 / 100 verdict
- 01MINORDeclining unit count (-0.8% YoY) suggests mature/contracting system despite 688 locations
- 02HIGHHistorical litigation involving affiliate Bonefish Grill (2004–2006 unregistered franchise sales) indicates compliance gaps and reputational risk
- 03MINORHigh capital requirement ($4.3M–$8.4M) with opaque profitability creates significant financial exposure
- 04MINOR20-year term locks franchisees into potentially declining casual dining category without clear exit strategy
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.7% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 20 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| 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 | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Not applicable — disputes litigated in Florida (Tampa) |
| Jury trial waiver | No |
| Governing law | FL |
| Litigation count | 1 |
View Item 3 litigation summary
Bonefish Grill affiliate consent order with Washington DFI for selling two franchises in WA without registration; agreed to cease and desist and pay $2,000 investigative costs
Items 10, 11
Training & Operations
- Classroom training
- 56 hrs
- On-the-job training
- 498 hrs
- Training location
- An Outback Steakhouse restaurant designated by franchisor (east and southeast US)
- Ongoing training
- Required
- Time to open
- 27 mo
- From signing to launch
- Site selection
- Franchisor approval required; franchisee selects within Target Area
- Franchisor financing
- Not offered
- Item 10
- POS system
- POSitouch
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: POSitouch
Item 20 · call current owners
Franchisee Contacts
126 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 Outback Steakhouse franchise?
The total investment to open a Outback Steakhouse franchise ranges from $4.3M – $8.4M, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Outback Steakhouse franchise owners earn?
Outback Steakhouse 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 Outback Steakhouse?
Outback Steakhouse is franchised by Outback Steakhouse of Florida, LLC. Its parent company is OSI Restaurant Partners, LLC. The ultimate parent named in the FDD is Bloomin' Brands, Inc.. Source: FDD Item 1, 2024 filing.
What is Item 19 in the Outback Steakhouse 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 Outback Steakhouse FDD and qualifies whose outlets they describe.
What is Outback Steakhouse's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Outback Steakhouse (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 Outback Steakhouse franchise locations are there?
As of their most recent FDD filing, Outback Steakhouse has 688 total units in the United States, including 126 franchised units and 562 company-owned units.
Is Outback Steakhouse a good franchise to buy?
FranchiseVerdict rates Outback Steakhouse as a B-grade franchise with a verdict score of 65 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.