Wahlburgers Franchise Cost, Revenue & Review 2026
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Wahlburgers is a casual-dining franchise serving burgers, sandwiches, and shakes, founded by the Wahlberg family. Franchisees run the restaurants, managing the kitchen, bar, and dining service.
FranchiseVerdict summary · 2026
A Wahlburgers franchise requires a total initial investment of $1.1M – $2.8M, including a $40K – $60K franchise fee and an ongoing 8.0% 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
- $1.1M – $2.8M
- 34th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 8.0%
- 35th pct Service Resta…
- Units
- 25
- 22nd 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 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 $1.1M – $2.8M including a $40K franchise fee, 8.0% ongoing royalty.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict D (Below average), verdict score 30/100 (higher is better).
- DATANo Item 19 financial performance representation. Without franchisor-disclosed revenue data, you'll need to gather unit economics directly from existing franchisees.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- NativeWahl LLC (Subfranchisor); Wahlburgers Franchising LLC (Franchisor)
- Parent company
- Native Source Restaurant Group, LLC (NativeWahl); Wahlburgers Holding Company LLC (WF)
- Ultimate parent
- Wahlburgers Holding Company LLC
- CEO title
- President and Chief Executive Officer (WF)
- Randall K. Sharpe
- Incorporated in
- Michigan (NativeWahl LLC)
- HQ
- 2608 Government Center Drive, Manistee, Michigan 49660
- Auditor
- Midwest Professionals, P.L.L.C.
- Audited financials
- Franchisor revenue
- $5.7M
- vs $5.1M prior year
Affiliated brands
- Wahlburgers Franchising International
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Randall K. Sharpe
- Headquarters
- MI
- Founded
- 2011
- FDD year
- 2025
- States available
- 12
Can you afford it, and what does the money buy?
Entry cost runs 66% above the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown30 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee (Full-Service)not refundable | $60K | $60K | |
| Grand Opening Advertising (Full-Service) | $0 | $15K | |
| Real Estate (Full-Service) | — | — | |
| Architectural Design Services (Full-Service) | $25K | $55K | |
| Construction/Leasehold Improvements (Full-Service) | $900K | $1.8M | |
| Travel and Living Expenses While Training (Full-Service) | $25K | $80K | |
| Furnishing, Fixtures, Equipment (Full-Service) | $350K | $450K | |
| Signage (Full-Service) | $25K | $35K | |
| Smallwares (Full-Service) | $20K | $50K | |
| Initial Inventory (Full-Service) | $10K | $20K | |
| Liquor Licenses (Full-Service) | — | — | |
| Business Licenses and Permits (Full-Service) | $3K | $4K | |
| Miscellaneous Opening Costs (Full-Service) | $30K | $60K | |
| Register or Point of Sale System (Full-Service) | $30K | $70K | |
| Additional Funds - 3 months (Full-Service) | $50K | $100K | |
| Initial Franchise Fee (Fast Casual)not refundable | $40K | $40K | |
| Grand Opening Advertising (Fast Casual) | $0 | $15K | |
| Real Estate (Fast Casual) | — | — | |
| Architectural Design Services (Fast Casual) | $25K | $55K | |
| Construction/Leasehold Improvements (Fast Casual) | $600K | $1.2M | |
| Total initial investment | $2.6M | $4.8M |
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
- $1.1M – $2.8M
- Top 40% of category vs category
- Liquid capital req'd
- $15K – $100K
- Top 40% of category vs category
- Franchise fee
- $40K – $60K
- Top 40% of category vs category
- Royalty
- 8.0%
- Gross Sales · typical 6–8%
- Ad fund
- 0.5%
- typical 3–5%
- Total fee load
- 8.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 0.5% of gross sales |
| Transfer fee | $5K |
| Renewal fee | $20K |
| Inventory (initial) | $10K – $20K |
| Total fee load | 8.5% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Wahlburgers 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 Wahlburgers unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
4%
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 8.5% (near the Full-Service Restaurants average).
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
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 averages
How Wahlburgers Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 25
- Opened
- 2
- Last reporting year
- Closed
- 87
- Terminated
- 2
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 82.1%
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 84%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 2
- Closed (3yr)
- 88
- Terminated (3yr)
- 2
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Projected new
- 7
- Franchisor's next-year forecast
- Continuity rate
- 19.6%
- Units that stayed open
- Termination rate
- 50.0%
- Franchisor-initiated terminations
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 22 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.
Available to sell in · Item 12
- California
- Michigan
- Minnesota
- Washington
States where the franchisor is registered to sell new franchises (FDD registration filings).
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
Wahlburgers posted a net loss of -$1,079,718 on $5,147,762 revenue with a thin net worth of $927,892, and system units fell 74.2% net. One concluded fiduciary-duty suit (Leonard v. Wahlberg, settled 2019 for $900,000) plus no Item 19 disclosure add concerns. Stacked financial weakness and sharp unit contraction drive the mid-range score.
Litigation (Item 3)
1 case reference(s): 0 pending, 1 settled.
Largest disclosed settlement: $900,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Midwest Professionals, P.L.L.C.
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 30 / 100 verdict
- 01MINORNegative net income -$1,079,718 on revenue $5,147,762
- 02MINORThin franchisor net worth $927,892
- 03MINORNet unit growth -74.2% (steep contraction)
- 04HIGHOne concluded litigation matter (settled $900k)
- 05MINORNo Item 19 disclosure
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.5% 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 | 20 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | Yes |
| Territory radius | 2 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 | 2 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 3 |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Michigan |
| Litigation count | 1 |
View Item 3 litigation summary
1 case reference(s): 0 pending, 1 settled.
Items 10, 11
Training & Operations
- Classroom training
- 5 hrs
- On-the-job training
- 79 hrs
- Training location
- On-site and off-site
- Ongoing training
- Required
- Site selection
- franchisor
- POS system
- NCR Aloha
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: NCR Aloha
Item 20 · call current owners
Franchisee Contacts
94 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Wahlburgers · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wahlburgers franchise?
The total investment to open a Wahlburgers franchise ranges from $1.1M – $2.8M, 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 Wahlburgers franchise owners earn?
Wahlburgers 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 Wahlburgers 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 Wahlburgers FDD and qualifies whose outlets they describe.
What is Wahlburgers's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Wahlburgers (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 Wahlburgers franchise locations are there?
As of their most recent FDD filing, Wahlburgers has 25 total units in the United States, including 21 franchised units and 4 company-owned units. 2 new units were opened in the latest reporting year.
Is Wahlburgers a good franchise to buy?
FranchiseVerdict rates Wahlburgers as a D-grade franchise with a verdict score of 30 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.