TFS Burger Works Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
TFS Burger Works is a quick-service franchise serving burgers, fries, and shakes. Franchisees run the restaurants, managing food prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A TFS Burger Works franchise requires a total initial investment of $265K – $389K, including a $50K franchise fee and an ongoing 7.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $265K – $389K
- 41st pct Service Resta…
- Avg gross sales
- N/A
- Company-owned onlyn=2
- Royalty
- 7.0%
- 86th pct Service Resta…
- Units
- 2
- 9th 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 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 $265K – $389K including a $50K franchise fee, 7.0% ongoing royalty.
- RETURNSFigures from the audited financial statements of TFS Franchise Works, LLC (the franchisor), a New York LLC formed Dec 1, 2023; Statements of Operations for year ended Dec 31, 2024 (yr1) and the period Dec 1, 2023 to Dec 31, 2023 (yr2). Total Revenues were $0 in both periods (the entity was a startup with no operating revenue); net losses were $(43,339) in 2024 and $(16,436) in 2023. Balance sheet at Dec 31, 2024 reconciles: Total Assets $10,000 = Total Liabilities $0 + Total Members' Equity $10,000. Not in thousands; whole US dollars.
- RISKVerdict D (Below average), verdict score 33/100 (higher is better).
- DATAItem 19 reports company owned only rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- TFS Franchise Works LLC
- CEO title
- Founder
- Nick Hill
- Incorporated in
- NY
- HQ
- 243 RT 9W, Palisades, NY 10964
- Auditor
- Metwally CPA PLLC
- Audited financials
- Franchisor revenue
- $0
- vs $0 prior year
Overview
About
- CEO
- Nick Hill
- Headquarters
- NY
- Founded
- 2023
- FDD year
- 2025
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 50% below 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 | $50K | $50K |
| Working capital (3–6 mo) | $30K | $50K |
| Equipment, build-out, other | $185K | $289K |
| Total initial investment | $265K | $389K |
Source: TFS Burger Works 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
- $265K – $389K
- Middle of category vs category
- Liquid capital req'd
- $30K – $50K
- Middle of category vs category
- Franchise fee
- $50K – $50K
- Bottom third — review vs category
- Royalty
- 7.0%
- percentage · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $3K |
| Training fee | $2K |
| Transfer fee | $5K |
| Renewal fee | $25K |
| Inventory (initial) | $3K – $5K |
| Total fee load | 9.0% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
TFS Burger Works 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 TFS Burger Works unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
27%
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
Figures from the audited financial statements of TFS Franchise Works, LLC (the franchisor), a New York LLC formed Dec 1, 2023; Statements of Operations for year ended Dec 31, 2024 (yr1) and the period Dec 1, 2023 to Dec 31, 2023 (yr2). Total Revenues were $0 in both periods (the entity was a startup with no operating revenue); net losses were $(43,339) in 2024 and $(16,436) in 2023. Balance sheet at Dec 31, 2024 reconciles: Total Assets $10,000 = Total Liabilities $0 + Total Members' Equity $10,000. Not in thousands; whole US dollars.
Company-owned outlets only - not franchisee performance
Based on a sample of only 2
- Item 19 type
- company owned only
- Sample size
- 2
- vs category median 20 · small
- Source filing
- FDD 2025
- The FDD edition these figures were read from
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 782 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 9.0% (near the Quick-Service Restaurants average).
Disclosure
Item 19 reports company owned only rather than annual gross sales, so unit revenue is not directly comparable.
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 averages
How TFS Burger Works Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 2
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state 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.
1
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.
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
Extremely early-stage burger concept with only 2 operating units, hidden profitability data, and unproven growth model presents significant venture risk despite protected territory.
Litigation (Item 3)
No litigation is required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Metwally CPA PLLC
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Restricted to system-approved products: Yes
Score breakdown · what drove the 33 / 100 verdict
- 01MEDOnly 2 existing units with unknown growth trajectory indicates extremely limited system track record and validation
- 02MEDNet income deliberately not disclosed in FDD Item 19 prevents realistic ROI analysis on $265k-$389k investment
- 03MINOR7% royalty rate on $833k average revenue ($58k annual) is heavy burden when profitability metrics are hidden
- 04MINORTiny franchisee base (2 units) creates high risk of system collapse and insufficient peer support network
- 05MEDNo disclosed litigation but micro-scale prevents meaningful legal pattern analysis
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% 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 | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 10 mi |
| Territory population | 250,000 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Arbitration location | Rockland, New York |
| Jury trial waiver | Yes |
| Governing law | NY |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation is required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 16 hrs
- On-the-job training
- 160 hrs
- Training location
- Rockland County, New York and the Franchised Business Site
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- POS system
- Toast, SpotOn, or Margin Edge Inventory
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast, SpotOn, or Margin Edge Inventory
Item 20 · call current owners
Franchisee Contacts
1 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
TFS Burger Works · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a TFS Burger Works franchise?
The total investment to open a TFS Burger Works franchise ranges from $265K – $389K, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do TFS Burger Works franchise owners earn?
TFS Burger Works 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 TFS Burger Works 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 TFS Burger Works FDD and qualifies whose outlets they describe.
What is TFS Burger Works's franchise failure rate?
SBA 7(a) loan charge-off data is not available for TFS Burger Works (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 TFS Burger Works franchise locations are there?
As of their most recent FDD filing, TFS Burger Works has 2 total units in the United States, including 0 franchised units and 2 company-owned units.
Is TFS Burger Works a good franchise to buy?
FranchiseVerdict rates TFS Burger Works as a D-grade franchise with a verdict score of 33 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
Are you the franchisor?
If you represent TFS Burger Works, you can request corrections or provide updated information.
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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.