Piggly WigglyFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
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]. Verdict grade: C. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $2.0M – $6.7M
- 42nd pct Retail
- Avg gross sales
- N/A
- 21st pct Retail
- Royalty
- N/A
- Units
- 90
- 25th pct Retail
- SBA default
- 12.0%
- system-wide median varies by category
Quick verdict · Retail · color = vs category peers
Green = >15% above Retail avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Franchising since 1982. Systems this mature have refined operations and brand recognition.
Franchised units fell from 84 to 78 over 3 years. Investigate why operators are leaving.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
Bottom line
- Total investment $2.0M – $6.7M including a $0 franchise fee.
- Item 19 disclosed $13M as a "Generalized Projection" from 1 sample. Projections from a single unit are not reliable performance data.
- Verdict C (Average) with a risk score of 65/100. SBA loan charge-off rate of 12.0% across 50 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- Auditor 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
- 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
Franchisees operate independent grocery stores under the Piggly Wiggly banner, managing day-to-day retail operations including inventory procurement, staffing, customer service, and store marketing. They compete directly against national supermarket chains, regional competitors, and other Piggly Wiggly locations without territorial exclusivity or differentiated market positioning.
- CEO
- Mark McGowan
- Headquarters
- WI
- Founded
- 1911
- FDD year
- 2025
- States available
- 2
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
- Near category avg vs category
- Liquid capital req'd
- $75K – $300K
- Better than avg vs category
- Franchise fee
- N/A
- Better than avg 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 |
Financial Performance
Item 19 disclosed $13M as a "Generalized Projection" from 1 sample. Projections from a single unit are not reliable performance data.
vs Retail averages
How Piggly Wiggly Compares
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 (yr3)
- -3.7%
- Net unit change last year
- 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)
- 82.9%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 29
- Defaults
- 6
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.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
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 65 / 100 rating
- 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
- 04MINORHigh investment-to-return ratio: $2-6.6M capital requirement against <$35K average annual profit creates multi-decade payback period
- 05HIGHUnprotected contract: 5-year term with no going concern safeguards; franchisor could discontinue support or rebrand
- 06MINORTiered 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
FDD Items 5, 6, 12, 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 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 84 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 risk score of 65 out of 100, 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.
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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.