Wahoo's Fish TacoFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Wahoo's Fish Taco franchise requires a total initial investment of $547K – $793K, including a $40K franchise fee and an ongoing 5.0% royalty[2]. The 2024 FDD does not disclose unit-level revenue (no Item 19). Verdict grade: F. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2024 FDD issuance
Overview
- Investment
- $547K – $793K
- 35th pct Service Resta…
- Avg gross sales
- N/A
- 28th pct Service Resta…
- Royalty
- 5.0%
- 7th pct Service Resta…
- Units
- 42
- 35th pct Service Resta…
- SBA default
- 0.0%
- system-wide median varies by category
Quick verdict · Full-Service Restaurants · color = vs category peers
Green = >15% above Full-Service Restaurants 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 1998. Systems this mature have refined operations and brand recognition.
Franchised units fell from 27 to 23 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $547K – $793K including a $40K franchise fee, 5.0% ongoing royalty.
- No Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- Verdict F (Bottom Quintile) with a risk score of 100/100.
- Bankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- WAHOO'S FISH TACO, LLC
- Ultimate parent
- Lamkone Restaurants, Inc.
- CEO title
- President
- Renato Lee
- CEO experience
- 1988 yrs
- Years in role or industry
- Incorporated in
- CA
- HQ
- 1185 Warner Avenue, Tustin, California 92780
- Auditor
- R.M. White & Associates
- Audited financials
- Franchisor revenue
- $1.0M
- vs $958K prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
Wahoo's Fish Taco franchisees operate quick-service seafood restaurants specializing in fish tacos, burritos, and coastal-themed Mexican cuisine. Day-to-day operations include food preparation, inventory management, customer service, staff supervision, and compliance with brand standards across a protected territorial location.
- CEO
- Renato Lee
- Headquarters
- CA
- Founded
- 1998
- FDD year
- 2024
- States available
- 4
FDD Item 7 · 2024 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $40K | $40K |
| Working capital (3–6 mo) | $60K | $100K |
| Equipment, build-out, other | $447K | $653K |
| Total initial investment | $547K | $793K |
Source: Wahoo's Fish Taco 2024 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
- $547K – $793K
- Better than avg vs category
- Liquid capital req'd
- $60K – $100K
- Near category avg vs category
- Franchise fee
- $40K – $40K
- Better than avg vs category
- Royalty
- 5.0%
- Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Transfer fee | $20K |
| Renewal fee | $5K |
| Total fee load | 6.0% of rev |
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
vs Full-Service Restaurants averages
How Wahoo's Fish Taco Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 42
- Opened
- 0
- Last reporting year
- Closed
- 3
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 1
- Term expired, not renewed (per Item 20)
- Turnover rate
- 7.1%
- Company-owned
- 19
- Corporate units in the system
- % franchised
- 55%
- vs corporate-owned
- Multi-unit owners
- 14.3%
- Net growth (yr3)
- -8.0%
- Net unit change last year
- 3-yr CAGR
- -14.8%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 0
- Projected new
- 1
- Franchisor's next-year forecast
- Continuity rate
- 92.0%
- Units that stayed open
- Termination rate
- 2.4%
- Franchisor-initiated terminations
- Ceased ops
- 4.8%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 18 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
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 2 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 2
- Loan volume
- $850K
- Median loan
- $425K
- 50th percentile
- Charge-off rate
- 0.0%
- 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)
- 100.0%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 2
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Wahoo's Fish Taco's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 2 lenders with concentration factor
- Per-state charge-off rates across 2 states
- Startup risk premium and job creation velocity
- 2-year lending trend
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Declining unit count, material litigation history, absence of financial disclosures (Item 19), and high capital requirements create a CAUTION-to-HIGH RISK profile requiring extensive due diligence before commitment.
Litigation (Item 3)
Two cases disclosed: (1) Double Overtime, LLC v. Wahoo's Fish Taco, LLC arbitration (Case No. 01-14-0000-3205 JIG) filed May 2, 2014, alleging violations of California Franchise Investment Law, negligent misrepresentation, unfair competition, breach of contract, and breach of implied covenant of good faith and fair dealing. Settled December 31, 2014 with franchise agreement termination. (2) Theodore Smith v. Wahoo's Fish Tacos et al. (Case No. A-21-845023-C, District Court, Clark County, Nevada) filed December 6, 2021, alleging negligence, negligent hiring/supervision/retention, joint venturer liability, intentional infliction of emotional distress, and battery arising from patron altercation on December 21, 2019. Settled April 12, 2023 for $90,000 with dismissal with prejudice filed May 17, 2023.
Largest disclosed settlement: $90,000
Bankruptcy (Item 4)
Disclosed in last 7 years
Bankruptcy Code; (b) obtained a discharge of its debts under the bankruptcy code; or (c) was a principal officer of a company or a general partner in a partnership that either filed as a debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code or that obtained a
Audited financials (Item 21)
Yes · R.M. White & Associates
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 100 / 100 rating
- 01MEDUnit count declined 8.0% YoY (42 units) indicating system contraction and potential market saturation or operational challenges
- 02MEDNo Item 19 financial performance disclosures (Avg Revenue and Net Income not disclosed) prevents validation of ROI claims and profitability benchmarks
- 03HIGHTwo material litigation events including 2014 California Franchise Law violation arbitration settled with franchisee termination, suggesting potential compliance or relationship management issues
- 04MEDHigh investment range ($546,500–$792,500) combined with undisclosed income creates significant downside risk without transparent earnings data
- 05MINOR2021 personal injury lawsuit (settled $90,000) raises operational/training concerns around staff conduct and customer safety protocols
- 06HIGHGoing Concern status = False is ambiguous; requires clarification on franchisor financial health and viability
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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 4 |
| Territory type | Radius |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1.5 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 1 year |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | California |
| Litigation count | 2 |
View Item 3 litigation summary
Two cases disclosed: (1) Double Overtime, LLC v. Wahoo's Fish Taco, LLC arbitration (Case No. 01-14-0000-3205 JIG) filed May 2, 2014, alleging violations of California Franchise Investment Law, negligent misrepresentation, unfair competition, breach of contract, and breach of implied covenant of good faith and fair dealing. Settled December 31, 2014 with franchise agreement termination. (2) Theodore Smith v. Wahoo's Fish Tacos et al. (Case No. A-21-845023-C, District Court, Clark County, Nevada) filed December 6, 2021, alleging negligence, negligent hiring/supervision/retention, joint venturer liability, intentional infliction of emotional distress, and battery arising from patron altercation on December 21, 2019. Settled April 12, 2023 for $90,000 with dismissal with prejudice filed May 17, 2023.
Items 10, 11
Training & Operations
- Classroom training
- 78 hrs
- On-the-job training
- 242 hrs
- Training location
- Company's headquarters or at a location Company designates
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- POS system
- Positouch
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Positouch
Item 20 · call current owners
Franchisee Contacts
42 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Wahoo's Fish Taco · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wahoo's Fish Taco franchise?
The total investment to open a Wahoo's Fish Taco franchise ranges from $547K – $793K, 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 Wahoo's Fish Taco franchise owners earn?
Wahoo's Fish Taco 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 Wahoo's Fish Taco's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Wahoo's Fish Taco (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 Wahoo's Fish Taco franchise locations are there?
As of their most recent FDD filing, Wahoo's Fish Taco has 42 total units in the United States, including 27 franchised units and 19 company-owned units.
Is Wahoo's Fish Taco a good franchise to buy?
FranchiseVerdict rates Wahoo's Fish Taco as a F-grade franchise with a risk score of 100 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.