Walk-On’s Sports Bistreaux Franchise Cost, Revenue & Review 2026
- Investment
- $1.6M – $7.0M
- Disclosed sales
- $4.4M
- gross sales, not profit
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Walk-On's Sports Bistreaux is a sports-bar-and-restaurant franchise serving Louisiana-inspired food and cocktails in a game-day atmosphere. Franchisees run large full-service restaurants managing kitchen, bar, and a big staff.
FranchiseVerdict summary · 2026
A Walk-On’s Sports Bistreaux franchise requires a total initial investment of $1.6M – $7.0M, including a $60K franchise fee and an ongoing 5.0% royalty[2]. Per the 2025 FDD, average unit revenue was $4.4M[2]. FranchiseVerdict grade: B (Above 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: medium - issued 12 to 24 months ago; a newer filing is likely on file
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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $1.6M – $7.0M
- 37th pct Service Resta…
- Avg gross sales
- $4.4M
- 14th pct Service Resta…
- Royalty
- 5.0%
- 8th pct Service Resta…
- Units
- 78
- 29th 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 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 $1.6M – $7.0M including a $60K franchise fee, 5.0% ongoing royalty.
- RETURNSAverage unit revenue of $4.4M/year (median $4.5M).
- RISKVerdict B (Above average), verdict score 64/100 (higher is better).
- GROWTHNegative: net -1 franchised outlets in the latest year (4 opened, 5 closed) (Item 20).
- GROWTHSystem growing at 32.7% CAGR over 3 years with 78 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Walk-On's Enterprises Franchising, L.L.C.
- Parent company
- Walk-On's Enterprises Holdings, LLC
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- Walk-On's Holdings DE, LLC
- FDD Item 1, page 8 of the 2025 FDD
- CEO title
- Chief Executive Officer, Founder, Chairman of the Board of Directors, and Owner
- Brandon P. Landry
- Incorporated in
- Georgia
- HQ
- 2 Ravinia Drive NE, 5th Floor, Atlanta, Georgia 30346
- Auditor
- Bourgeois Bennett
- Audited financials
- Franchisor revenue
- $15.5M
- vs $15.7M prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- Brandon P. Landry
- Headquarters
- GA
- Founded
- 2014
- FDD year
- 2025
- States available
- 14
Can you afford it, and what does the money buy?
Entry cost runs 532% above the typical full-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown21 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $60K | $60K | |
| Initial Training Program Expenses | $20K | $30K | |
| Opening Support Fee | $40K | $40K | |
| Management Salary Expense | $120K | $130K | |
| Hiring Trailer | $5K | $8K | |
| Leased Real Property | $110K | $280K | |
| Construction and Leasehold Improvements | $0 | $4.0M | |
| Equipment | $500K | $1.1M | |
| Furniture and Fixtures | $85K | $300K | |
| Hand Wares, Small Appliances and Uniforms | $71K | $102K | |
| Computer, Television Audio and Point of Sale Systems | $250K | $310K | |
| Initial Inventory | $35K | $50K | |
| Security deposits, utility deposits, business licenses, and other prepaid expenses | $1K | $8K | |
| Liquor License | $50K | $250K | |
| Professional Fees | $8K | $19K | |
| Signs | $30K | $90K | |
| Architect and Engineering Fees | $50K | $120K | |
| Grand Opening Charitable Donation | $5K | $5K | |
| Grand Opening Marketing Funds | $20K | $20K | |
| Pre-Opening Labor | $45K | $45K | |
| Total initial investment | $1.6M | $7.0M |
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
- $1.6M – $7.0M
- Top 40% of category vs category
- Liquid capital req'd
- $50K – $50K
- Top 40% of category vs category
- Franchise fee
- $60K – $60K
- Top 40% of category vs category
- Royalty
- 5.0%
- typical 6–8%
- Ad fund
- 3.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 3.0% of gross sales |
| Technology fee | $500 |
| Training fee | $5K |
| Transfer fee | $30K |
| Renewal fee | $15K |
| Inventory (initial) | $35K – $50K |
| Total fee load | 8.0% of rev |
What do units actually make?
Average unit sales run 177% above the full-service restaurants norm.
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Walk-On’s Sports Bistreaux until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
Total invested capital · disclosed
$4.3M
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Walk-On’s Sports Bistreaux 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 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.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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
- Avg gross sales
- $4.4M
- Per unit, per year
- Median gross sales
- $4.5M
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical average/median gross revenues (franchised, affiliate-owned, systemwide)
- Sample size
- 70 outlets
- vs category median 18 · large
- Range (low → high)
- $919K→$6.7MCited, not corroborated — printed on page 58 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 7 / 10
- vs category median 3 / 10 · above
Compared against 801 Full-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $4.4M/year in gross sales. Revenue-to-investment ratio: 1.0x.
Fee burden
Total ongoing fee load of 8.0% (near the Full-Service Restaurants median).
Disclosure
Transparency score 7/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 32.7% CAGR over 3 years across 78 units — operators are staying and new ones are joining.
Multi-unit rate
Only 19% 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 Full-Service Restaurants medians
How Walk-On’s Sports Bistreaux Compares
Category median of published Full-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 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 78
- Opened
- 4
- Last reporting year
- Closed
- 5
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 6.4%
- Company-owned
- 5
- Corporate units in the system
- % franchised
- 1%
- vs corporate-owned
- Multi-unit owners
- 19.0%
- Net growth (3-yr)
- -2.9%
- Net unit change over 3 years
- 3-yr CAGR
- +32.7%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 4
- Transfer rate
- 57.1%
- Owners selling to other franchisees
- Continuity rate
- 93.6%
- Units that stayed open
- Ceased ops
- 71.4%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- New York
- North Dakota
- Rhode Island
- South Dakota
- Virginia
- Washington
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
66 current owners across 13 states; 19 former (terminated, transferred or not renewed) listed separately.
- LA 18
- TX 12
- AL 8
- FL 6
- AR 5
- MS 5
- IN 3
- GA 2
- KS 2
- TN 2
- AZ 1
- MO 1
- +1 more states
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
Walk-On's is a healthy 78-unit system with strong net worth of $13,424,994, avg gross sales of $4,441,549, and +32.7% net unit growth. No litigation, bankruptcy, or going-concern issues, audited financials and Item 19 disclosed. Clean profile.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Bourgeois Bennett
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: Yes
Score breakdown · what drove the 64 / 100 verdict
- 01MINORNet worth $13,424,994, avg gross sales $4,441,549
- 02MINORNet unit growth +32.7%, 0% turnover
- 03HIGH0 litigation, no bankruptcy, no going-concern, audited, Item 19 disclosed
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% 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 | 5 years |
| Allowed renewalsℹ | 4 |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory radius | 9 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 15 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Georgia |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 49 hrs
- On-the-job training
- 230 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Site selection
- joint
- Franchisor financing
- Offered
- Item 10
- POS system
- Toast
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Toast
Item 20 · call current owners
Franchisee Contacts
85 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 Walk-On’s Sports Bistreaux franchise?
The total investment to open a Walk-On’s Sports Bistreaux franchise ranges from $1.6M – $7.0M, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Walk-On’s Sports Bistreaux franchise owners earn?
According to Item 19 of the Walk-On’s Sports Bistreaux FDD, the average gross sales per unit is $4.4M. The median is $4.5M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Walk-On’s Sports Bistreaux?
Walk-On’s Sports Bistreaux is franchised by Walk-On's Enterprises Franchising, L.L.C.. Its parent company is Walk-On's Enterprises Holdings, LLC. The ultimate parent named in the FDD is Walk-On's Holdings DE, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Walk-On’s Sports Bistreaux 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 Walk-On’s Sports Bistreaux FDD and qualifies whose outlets they describe.
What is Walk-On’s Sports Bistreaux's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Walk-On’s Sports Bistreaux (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 Walk-On’s Sports Bistreaux franchise locations are there?
As of their most recent FDD filing, Walk-On’s Sports Bistreaux has 78 total units in the United States, including 73 franchised units and 5 company-owned units. 4 new units were opened in the latest reporting year.
Is Walk-On’s Sports Bistreaux a good franchise to buy?
FranchiseVerdict rates Walk-On’s Sports Bistreaux as a B-grade franchise with a verdict score of 64 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.