Trailer Birds Hot Chicken Franchise Cost, Revenue & Review 2026
- Investment
- $273K – $464K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Trailer Birds Hot Chicken is a quick-service franchise serving Nashville-style hot chicken and crispy menu items. Franchisees run the restaurants, managing food prep, staffing, and counter service.
FranchiseVerdict summary · 2026
A Trailer Birds Hot Chicken franchise requires a total initial investment of $273K – $464K, including a $20K franchise fee and an ongoing 6.0% 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: D (Below 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 scored5 of 5 headline figures on this page cite a page of the filing.
Overview
- Investment
- $273K – $464K
- 42nd pct Service Resta…
- Avg gross sales
- N/A
- 0 outlets
- Royalty
- 6.0%
- 48th pct Service Resta…
- Units
- 0
- 0th 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 $273K – $464K including a $20K franchise fee, 6.0% 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 D (Below average), verdict score 30/100 (higher is better).
- GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 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
- Virtual Brands, Inc.
- Parent company
- Dickey's Capital Group, Inc.
- FDD Item 1, page 10 of the 2021 FDD
- CEO title
- Chief Executive Officer
- Laura Rea Dickey
- Incorporated in
- Texas
- HQ
- 18583 N. Dallas Parkway, Suite 120, Dallas, Texas 75287
- Auditor
- Carr, Riggs & Ingram, LLC
- Audited financials
- Franchisor revenue
- $63.3M
- vs $54.6M prior year
Same owner · FDD Item 1, page 10
1 other brand on this site name Dickey's Capital Group, Inc. as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2021 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
- Laura Rea Dickey
- Headquarters
- TX
- Founded
- 2020
- FDD year
- 2021
- States available
- 0
Can you afford it, and what does the money buy?
Entry cost runs 24% below the typical quick-service restaurants franchise.
Source: FDD 2021 · Items 5–7
Full Item 7 breakdown25 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Franchise Fee | $20K | $20K | |
| Architectural Plans | $0 | $15K | |
| Permits | $0 | $20K | |
| Leasehold Improvements | $142K | $205K | |
| Furniture, Fixtures, and Equipment | $70K | $104K | |
| Graphics | $4K | $8K | |
| Digital Menu Boards | $3K | $3K | |
| Signage | $2K | $8K | |
| POS Computer and Technology in A Box | $5K | $7K | |
| Lease Deposits | $0 | $10K | |
| Training | $2K | $3K | |
| ServSafe Training | $0 | $185 | |
| Training Enrollment Fee | $297 | $297 | |
| Opening Inventory and Services | $7K | $7K | |
| Insurance | $0 | $8K | |
| Restaurant Opening Fee | $8K | $8K | |
| Professional Fees | $0 | $2K | |
| Closing and Finance Costs | $0 | $15K | |
| Smoke Stack Sales Reporting System Software Fee | $200 | $200 | |
| Spark Online Ordering Fee | $596 | $596 | |
| Total initial investment | $273K | $464K |
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
- $273K – $464K
- Middle of category vs category
- Liquid capital req'd
- $7K – $15K
- Top 40% of category vs category
- Franchise fee
- $20K – $20K
- Top 40% of category vs category
- Royalty
- 6.0%
- typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of net sales |
| Marketing / ad fund | 3.0% of net sales |
| Technology fee | $340 |
| Transfer fee | $15K |
| Renewal fee | $15K |
| Inventory (initial) | $7K – $7K |
| Total fee load | 9.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Trailer Birds Hot Chicken 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 Trailer Birds Hot Chicken 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: 2021 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 9.0% — above the Quick-Service Restaurants median of 7.5%.
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.
Multi-unit rate
Only 7% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Trailer Birds Hot Chicken 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 2021 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 0
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Company-owned
- 0
- Corporate units in the system
- Multi-unit owners
- 6.7%
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
- Item 20 Table 5
- Projected new
- 55
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Where the owners are · Item 20 owner list
2 current owners across 1 state.
- TX 2
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.
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
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
Three putative class action lawsuits pending against DBRI and DCG related to data security incident (April 2019-October 2020) affecting payment card information at some Dickey's Barbecue Pit locations. Cases filed in Southern District of California and Northern District of Texas. Claims include negligence, privacy violations, breach of contract, unjust enrichment, CCPA violations, FTC Act violations, and state consumer protection violations. No franchisees named as defendants. Settlement agreement reached in August 2021 in Adams case and two other actions, awaiting court approval.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Carr, Riggs & Ingram, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Financials are for parent Dickey's Capital Group, Inc. (consolidated), which guarantees the Franchisor's obligations; Virtual Brands, Inc. itself does not file separate audited financials.
ⓘ 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: No
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 30 / 100 verdict
- 01MINORfinancials_are_parent_level; parent net loss -$7,012,809 but net worth $13.2M
- 02HIGHLitigation is parent Dickey's data-breach class actions, not brand-specific
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 2021 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 30 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Arbitration location | Texas |
| Jury trial waiver | Yes |
| Governing law | Texas |
| Litigation count | 3 |
View Item 3 litigation summary
Three putative class action lawsuits pending against DBRI and DCG related to data security incident (April 2019-October 2020) affecting payment card information at some Dickey's Barbecue Pit locations. Cases filed in Southern District of California and Northern District of Texas. Claims include negligence, privacy violations, breach of contract, unjust enrichment, CCPA violations, FTC Act violations, and state consumer protection violations. No franchisees named as defendants. Settlement agreement reached in August 2021 in Adams case and two other actions, awaiting court approval.
Items 10, 11
Training & Operations
- Classroom training
- 50 hrs
- On-the-job training
- 90 hrs
- Training location
- On-site and off-site
- Ongoing training
- Required
- Site selection
- Franchisee, subject to franchisor acceptance
- Franchisor financing
- Not offered
- Item 10
- POS system
- Spark Point-of-Sale system
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Spark Point-of-Sale system
Item 20 · call current owners
Franchisee Contacts
2 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 Trailer Birds Hot Chicken franchise?
The total investment to open a Trailer Birds Hot Chicken franchise ranges from $273K – $464K, with an initial franchise fee of $20K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Trailer Birds Hot Chicken franchise owners earn?
Trailer Birds Hot Chicken 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 Trailer Birds Hot Chicken?
Trailer Birds Hot Chicken is franchised by Virtual Brands, Inc.. Its parent company is Dickey's Capital Group, Inc.. Source: FDD Item 1, 2021 filing.
What is Item 19 in the Trailer Birds Hot Chicken 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 Trailer Birds Hot Chicken FDD and qualifies whose outlets they describe.
What is Trailer Birds Hot Chicken's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Trailer Birds Hot Chicken (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.
Is Trailer Birds Hot Chicken a good franchise to buy?
FranchiseVerdict rates Trailer Birds Hot Chicken as a D-grade franchise with a verdict score of 30 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.