Piggly Wiggly Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Piggly Wiggly is a supermarket franchise operating independent neighborhood grocery stores. Franchisees run a full-line grocery managing inventory, staffing, and local customers under the Piggly Wiggly banner.
FranchiseVerdict summary · 2026
A Piggly Wiggly franchise requires a total initial investment of $2.0M – $6.7M. The 2025 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 12.0% charge-off rate across 50 loans[1]. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $2.0M – $6.7M
- 12th pct Food Retail
- Avg gross sales
- N/A
- Projection
- Royalty
- N/A
- Units
- 90
- 8th pct Food Retail
- SBA charge-off
- 12.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Food Retail · color = vs category peers
Green = favorable by >10% vs Food Retail avg · 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 $2.0M – $6.7M.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict C (Average), verdict score 41/100 (higher is better). SBA loan charge-off rate of 12.0% across 50 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- FLAGAuditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- PIGGLY WIGGLY MIDWEST, LLC
- Parent company
- C&S Wholesale Grocers, LLC
- Incorporated in
- WI
- HQ
- 2215 Union Avenue, Sheboygan, WI 53081
- Auditor
- CliftonLarsonAllen LLP
- Audited financials
- Franchisor revenue
- $674.9M
- vs $585.2M prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
- CEO
- Mark McGowan
- Headquarters
- WI
- Founded
- 1911
- FDD year
- 2025
- States available
- 2
Can you afford it, and what does the money buy?
Entry cost runs 414% above the typical food retail franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Working capital (3–6 mo) | $75K | $300K |
| Equipment, build-out, other | $2.0M | $6.4M |
| Total initial investment | $2.0M | $6.7M |
Source: Piggly Wiggly 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
- $2.0M – $6.7M
- Top 40% of category vs category
- Liquid capital req'd
- $75K – $300K
- Top 40% of category vs category
- Franchise fee
- N/A
- Top 40% of category vs category
- Royalty
- Tiered: 0.375% on the first $45,000 of gross sales per fo…
- Ad fund
- -n/d
- Total fee load
- 0.4%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Total fee load | 0.4% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Piggly Wiggly did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Piggly Wiggly unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
1%
Below the 30–60% attractive-franchise band
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
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
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 0.4% — below the Food Retail average of 9.2%.
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
Operator retention
System contracting at -7.1% 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 Food Retail averages
How Piggly Wiggly Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 90
- Opened
- 0
- Last reporting year
- Closed
- 3
- Turnover rate
- 3.3%
- Company-owned
- 12
- Corporate units in the system
- % franchised
- 87%
- vs corporate-owned
- Net growth (3-yr)
- -3.7%
- Net unit change over 3 years
- 3-yr CAGR
- -7.1%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 2
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 2 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.
2
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 50
- Loan volume
- $39.0M
- Median loan
- $517K
- 50th percentile
- Charge-off rate
- 12.0%
- 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)
- 88.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 29
- Defaults
- 6
- Typical loan rate
- 5.7%
- avg rate to borrowers
- Franchised industry avg
- 19.7%
- brand beats franchise avg ↓
- Jobs supported
- 2,093
- 5.4 per loan
- Lender concentration
- 8%
- top lender's share
Borrower mix: 29% went to startups / new businesses, 71% to established operators
Franchise vs independent — in supermarkets and other grocery (except convenien, franchised businesses charge off at 19.7% vs 20.2% for independents — franchising is associated with 2% lower SBA default risk in this category.
Top lenders financing Piggly Wiggly franchisees
Showing 3 of 29 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.
Premium insight
SBA Lending Report
Deep-dive into Piggly Wiggly's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 11 states
- Startup risk premium and job creation velocity
- 30-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
What could kill this investment?
The auditor flagged going-concern doubt (Item 21) — the single biggest risk here.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Piggly Wiggly presents high risk due to systematic unit decline, negligible unit-level profitability, unprotected territories, and structural barriers to positive ROI despite moderate investment costs.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · CliftonLarsonAllen LLP⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 41 / 100 verdict
- 01MINORDeclining unit count: 90 stores with -3.7% YoY contraction indicates system shrinkage and potential franchisee struggle
- 02MINORRazor-thin profitability: $34,867 average net income on $13M revenue (0.27% net margin) is unsustainably low for grocery retail
- 03MINORNo territorial protection: Franchisees face direct competition from other Piggly Wiggly locations and zero exclusivity guarantees
- 04MINORUnprotected contract: 5-year term with no going concern safeguards; franchisor could discontinue support or rebrand
- 05MINORTiered royalty structure appears favorable on surface but royalties paid on declining sales base as unit count shrinks
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 0.4% 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 | Specific Location |
| Protected territory | No |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Not allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Wisconsin |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 0 hrs
- Training location
- On-site and at franchisor location
- POS system
- Retail Technology System (RTS)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Retail Technology System (RTS)
Item 20 · call current owners
Franchisee Contacts
1 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Piggly Wiggly · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Piggly Wiggly franchise?
The total investment to open a Piggly Wiggly franchise ranges from $2.0M – $6.7M. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Piggly Wiggly franchise owners earn?
Piggly Wiggly does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Piggly Wiggly 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 Piggly Wiggly FDD and qualifies whose outlets they describe.
What is Piggly Wiggly's franchise failure rate?
Based on SBA 7(a) loan data, Piggly Wiggly has a charge-off rate of 12.0% across 50 loans, meaning 12.0% 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 Piggly Wiggly franchise locations are there?
As of their most recent FDD filing, Piggly Wiggly has 90 total units in the United States, including 78 franchised units and 12 company-owned units.
Is Piggly Wiggly a good franchise to buy?
FranchiseVerdict rates Piggly Wiggly as a C-grade franchise with a verdict score of 41 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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.